granules Archives

Covid-19 vaccine 90% effective in Phase-3 trial: Pfizer

Pfizer, the US-based pharmaceutical firm, has stated that its vaccine was 90% effective in preventing Covid-19 infections in ongoing Phase-3 trials. The vaccine candidate is jointly developed by Pfizer and BioNTech. Pfizer has also stated that it expects to supply up to 50 million vaccine doses globally in 2020.

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RBI lifts restrictions on Equitas Small Finance Bank after listing of shares

Equitas Holdings Ltd. has stated that the Reserve Bank of India has lifted the restrictions that were imposed on Equitas Small Finance Bank (ESFB) in September 2019. RBI had restricted ESFB from opening new branches and froze the remuneration of its MD & CEO. The restrictions were removed after ESFB got listed on the stock exchanges earlier this month.

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Balkrishna Industries Q2 Results: Net Profit rises 16% YoY to Rs 339 crore

Balkrishna Industries Ltd. reported a 16.7% year-on-year (YoY) increase in net profit to Rs 339.5 crore, for the quarter ended September (Q2). The company posted a 36% YoY increase in sales volume to 61,224 million tonnes, during the same period. The board has declared an interim dividend of Rs 4 per share.

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Happiest Minds partners with AutonomIQ to create connected ecosystem

Happiest Minds Technologies has partnered with AutonomIQ, a cloud platform that uses AI and machine learning for testing solutions. The partnership will be aimed at accelerating the enterprise digital transformation journey using autonomous testing capabilities. The companies will also help to create pre-built solutions to help customers generate value in really short periods.

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L&T Finance Holdings gets approval to raise Rs 3,000 crore via rights issue

The Board of Directors of L&T Finance Holdings has approved a plan to raise Rs 3,000 crore through a rights issue. A rights issue is a method used by a company to raise additional capital, by offering more of its shares to the current shareholders. The company has stated that the details of the rights issue, including price and entitlement ratio, will be determined in due course.

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Blue Star receives Rs 128 crore order from Wistron Infocomm

Blue Star, on Monday, announced that it has bagged a Rs 128 crore order from Wistron Infocomm. The order is to create a mechanical electrical and plumbing (MEP) structure for Wistron’s factory expansion project. Wistron Infocomm is a Taiwan-based contract manufacturer of electronic goods for companies such as Apple.

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Board of Granules India approves incorporation of subsidiary in Hyderabad

The Board of Directors of Granules India has approved to incorporate a wholly-owned subsidiary of the company in Hyderabad. The company has plans to build a green field facility for its formulations business. The share price of Granules India Ltd. saw a rise of 4.24%, and closed at Rs 387 on the NSE today.

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Jindal Saw Q2 Results: Net Profit falls 74% YoY to Rs 78 crore

Jindal Saw Ltd. reported a 74% year-on-year (YoY) decline in net profit to Rs 78.2 crore, for the quarter ended September (Q2). The company’s revenue declined by 11.5% YoY to Rs 2,374.32 crore, during the same period. Jindal Saw has stated that its sales have seen a sharp rebound, after the steel business was negatively impacted due to Covid-19.

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Parag Milk Foods Q2 Results: Profit declines 44% YoY to Rs 16 crore

Parag Milk Foods Ltd. reported a 44.19% year-on-year (YoY) decline in profit after tax to Rs 15.9 crore, for the quarter ended September (Q2). Its revenue declined by 22.16% YoY to Rs 498.23 crore, during the same period. The company has stated that revenues had fallen due to a slowdown in its Hotel, Restaurants, and Catering segment.

Lumax Industries Q2 Results: Net Profit falls 63% YoY to Rs 7 crore

Lumax Industries Ltd. reported a 63.99% year-on-year (YoY) decline in net profit to Rs 7.23 crore, for the quarter ended September (Q2). The company’s revenue declined by 7.39% YoY to Rs 397.35 crore, during the same period. Lumax is a leading manufacturer and supplier of automotive components and systems in India.

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NLC India Q2 Results: Net Profit jumps 400% YoY to Rs 43 crore

NLC India Limited reported a 400% year-on-year (YoY) increase in net profit to Rs 43 crore, for the quarter ended September (Q2). The company’s revenue increased by 78% YoY to Rs 396 crore, during the same period. The board has declared an interim dividend of Rs 1.5 per share. NLC India is a Government-owned company in the fossil fuel mining sector.

One sector which is getting most of the attention during the pandemic is the Pharma sector. The investors are keeping a track of which companies are moving in the direction of developing a COVID 19 vaccine. It is highly expected that the stocks of Pharma companies may provide good returns to the investor in the foreseeable future.

Granules India released their Q1 results for this financial year. The bottom line (net profit) increased by 34% to take the net profits at Rs 111.44 crore for the quarter which ended on 30th June 2020. Consolidated revenue worth Rs 735.59 crore was registered as compared to Rs 595.27 crore for the same period a year ago.

EBITDA or earnings before interest, taxes, depreciation, and amortization tells about the operating profitability and is one of the important financial measures for any company. This measure grew by more than 50% in this quarter.

Their results were welcomed positively by the market as their share price went up by 8%. Also, Granules have declared its first interim dividend of 25 paise per share which will boost earnings of shareholders, both in the form of a rise in share price and the dividend offered.

About Granules India

Hyderabad based drug firm, Granules India, is a vertically integrated pharmaceutical manufacturing company which has the vision to become a global leader in its domain. It was set up in 1984 and took only three years to become the second Indian company to export pharmaceutical products to the U.S.

They manufacture products across Active Pharmaceutical Ingredient (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs). Few of the core products which the company manufactures are Paracetamol, Guaifenesin, Metformin and Ibuprofen.

What led to strong Q1 results?

Granules India was able to register this growth due to the robust increase in production and demand. The resumption of Paracetamol exports has boosted revenue growth in the last quarter. This quarter Granules Pharmaceutical Inc (GPI) launched two products: Colchicine tablets and Butalbital APAP caffeine tablets. These new products have been well received by the consumer. Also, the expansion of the market share of the existing products has contributed to higher revenues for the manufacturing company this quarter.

“This is the result of operational excellence and a vigilant watch over our margins through optimisation of the product mix and by increased capacities and optimal capacity utilisation.” – Granules India Chairman and MD Krishna Prasad Chigurupati

The street will be eagerly waiting for the results of other pharma companies who has seen a surge in demand in recent times.