Results on expected lines
Granules_result.pdf (562.8 KB)
Granules achieved the growth on back of inherent stability of the molecules in their portfolio combined with their relentless focus on efficient manufacturing. The primary Revenue growth driver for this quarter was US formulation business, which complimented in overall improvement in profitability margins compared with same quarter of the previous financial year.
Owing to the policy offiscal prudence that they adopted, this year witnessed improvement in Debt profile, Working Capital cycle, and culmination of major capex implementation phase. They are geared up to leverage these assets to create value for stakeholders in long term. During the year under review, Granules along with US subsidiary filed 12 ANDAs, 2 DIV/F5 and 2 CEPs which are important indicators of their constant resolve towards accelerated product filling. The other turning point of the year was the launch of their own label product through US subsidiary marking an important landmark in their corporate journey.
Note from results is “Approved the resignation of Mr. K. Ganesh, Chief Financial Officer of the Company with effect from the closing working hours of May 14, 2019 and the Company is in the process of filling the vacancy.”
CFO leaving at this juncture is messy… we need to wait for concall to get more clarity