Granules India Q3FY26 Revenue Jumps 22% YoY to ₹13,879 Mn; EBITDA Up 34%
Granules India reported Q3FY26 revenue of ₹13,879 million, up 22% YoY. EBITDA rose 34% to ₹3,081 million with a margin of 22.2%. PAT increased 28% to ₹1,502 million. Key updates include Brazil GMP certification and a CDP climate change rating upgrade to 'A'.
The significant financial performance improvement and positive regulatory developments are material for investors and indicate strong business momentum.
The company reported strong year-on-year growth in revenue, EBITDA, and PAT, along with margin improvements. Positive regulatory updates and credit rating upgrades further support the positive sentiment.
Granules India Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. The company reported a significant year-on-year revenue growth of 22%, reaching ₹13,879 million (₹1387.9 crore) in Q3FY26, compared to ₹11,377 million (₹1137.7 crore) in Q3FY25. Quarter-on-quarter, revenue increased by 7%.
EBITDA saw a substantial YoY increase of 34%, rising to ₹3,081 million (₹308.1 crore) from ₹2,303 million (₹230.3 crore) in the previous year. The EBITDA margin improved to 22.2% from 20.2% YoY, despite an EBITDA loss of ₹248 million from Ascelis Peptides. QoQ, EBITDA increased by 11% with a margin improvement of 75 basis points.
Profit After Tax (PAT) grew by 28% YoY to ₹1,502 million (₹150.2 crore) from ₹1,176 million (₹117.6 crore), with the PAT margin increasing to 10.8% from 10.3% YoY.
The company highlighted several key updates, including ANVISA Brazil GMP certification for its Gagillapur site, achieving the highest 'A' rating in climate change from CDP, and an upgrade in credit rating by ICRA from AA- to AA. Additionally, Granules India's Packaging Facility in the US successfully completed an FDA inspection with zero observations.
Revenue growth was primarily driven by the Finished Dosage (FD) segment in North America and Europe. The share of Finished Dosages in the company's portfolio continues to grow, reaching 76% in Q3FY26. R&D expenses were maintained at ₹689 million (5.0% of sales), aligning with long-term strategic growth. The company also received a tentative approval for Amphetamine ER (Adzenys) ANDA in Q3FY26.
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