Granules India FY26 Revenue Surges 20% to ₹53,656 Mn; PAT Grows 19% to ₹5,950 Mn
Granules India reported FY26 revenue of ₹53,656 Mn, up 20% YoY, and PAT of ₹5,950 Mn, up 19% YoY. Q4FY26 revenue increased 23% YoY to ₹14,706 Mn, with PAT up 33% YoY to ₹2,016 Mn. The company achieved record gross margins of 65.0% for FY26 and 22.1% EBITDA margin. Strategic focus on Complex Gx and CDMO business contributed to growth.
The announcement details robust financial performance with significant growth across key metrics for both the full year and the quarter. The strategic shift towards higher-margin products like Complex Generics and the emergence of CDMO as a new revenue stream are substantial positive developments that are likely to significantly impact the company's future growth trajectory and profitability.
The company reported strong year-on-year growth in revenue, EBITDA, and PAT for both the full fiscal year and the fourth quarter. Key financial metrics like gross margin and EBITDA margin showed significant improvement, indicating operational efficiency and a favorable product mix. Reduction in Net Debt/EBITDA and improved ROCE further strengthen the positive outlook.
Granules India Limited announced its audited financial results for the fourth quarter and financial year ended March 31, 2026. For the full fiscal year 2026, the company reported a significant 20% year-on-year increase in revenue, reaching ₹53,656 Million (approximately ₹5,365.6 crore), surpassing the ₹50,000 Million milestone.
Profit After Tax (PAT) for FY26 grew by 19% year-on-year to ₹5,950 Million (approximately ₹595 crore). EBITDA also saw a substantial increase of 25% year-on-year to ₹11,851 Million (approximately ₹1,185.1 crore), with EBITDA margins improving by 100 basis points to 22.1%. The company achieved its highest-ever gross margin of 65.0%, marking a 355 basis points increase year-on-year. ROCE improved to 17.6% from 16.6% in FY25, and Net Debt/EBITDA reduced to 0.34x from 0.75x in FY25.
In the fourth quarter of FY26, revenue grew by 23% year-on-year to ₹14,706 Million (approximately ₹1,470.6 crore). PAT for the quarter increased by 33% year-on-year to ₹2,016 Million (approximately ₹201.6 crore), with EBITDA growing by 40% year-on-year to ₹3,521 Million (approximately ₹352.1 crore). Gross margin for Q4FY26 stood at 65.7%, up 233 basis points year-on-year.
The company highlighted a strategic shift towards a value-driven business model with a focus on Complex Generics, which now constitute 43% of the Finished Dosage (FD) portfolio. The CDMO business emerged as a new revenue vertical, contributing ₹1,593 Million in FY26. Geographic diversification saw strong momentum in North America and Europe, with Europe showing a near doubling in performance. Granules India also made significant capital expenditures, investing ₹5,547 Million in FY26, funded through cash flows from operations, towards facilities like the Genome Valley 10 Bn dosages facility and the MUPS facility in the USA.
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Granules India Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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