Granules India Limited · NSE:GRANULES
Granules India — Q2 FY2026 Earnings Presentation
24 slides from Granules India's earnings presentation, Nov 13, 2025
Slide 1: Cover letter to stock exchanges
GS GRANULES Date: November 13, 2025 To, . National Stock Exchange of India Limited BSE Limited Symbol: NSE: GRANULES: BSE: 532482 Dear Sir, Sub: Presentation to the Analysts/Investors We refer to the unaudited financial results for the second quarter and half year ended on September 30, 2025, submit
Slide 2: Granules India Limited Earnings Presentation Q2FY26
Granules India Limited Earnings Presentation Q2FY26 13th November 2025 Embracing Change. Shaping Tomorrow.
Slide 3: Safe Harbour Statement
Safe Harbour Statement The Presentation is to provide the general background information about the Company’s activities as at the date of the Presentation. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendatio
Slide 4: Q2FY26: Table of Contents
Q2FY26: Table of Contents 1 Q2 Quarterly Performance 5 Portfolio Expansion 2 Historical Performance 6 Business Strategy 3 R&D Capability 7 Granules sustainability 4 Granules at Glance 8 CSR Initiatives Earnings Presentation – Q2FY26
Slide 5: Quarterly Performance
Quarterly Performance Q2 FY 26 Earnings Presentation – Q2FY26
Slide 6: Q2FY26: Executive Summary
Q2FY26: Executive Summary ▪ Sales: YoY growth was primarily driven by the formulations business in North America and Europe. Financial ▪ EBITDA: EBITDA increase is primarily because of sales growth and margin expansion, despite Overview EBITDA loss of ₹200 Mn from Ascelis Peptides. Ratio’s, Cashflow
Slide 7: Q2FY26: Financial Overview
Q2FY26: Financial Overview (In ₹ Mn) Particular Q2 FY26 Q1 FY26 Q-o-Q Q2 FY25 Y-o-Y Revenue 12,970 12,101 7% 9,666 34% Gross Margin 8,520 7,850 9% 5,994 42% % of Gross Margin 65.7% 64.9% 82 bps 62.0% 368 bps Manpower Cost 2,192 2,028 8% 1,594 37% R&D 705 678 4% 524 35% Other Expenses 2,841 2,678 6%
Slide 8: Q2FY26: Key Financials
Q2FY26: Key Financials (In ₹ Mn) Revenue Gross Margin Revenue 12,970 8,520 12,101 7,850 Revenue growth in formulation in North America and 9,666 65.7% 5,994 Europe and API/PFI in ROW markets. 64.9% In Q2FY25, the Company had voluntarily paused production in the Gagillapur plant to reassess the poten
Slide 9: Q2FY26: Revenue split by Segments and Market
Q2FY26 : Revenue spilt by Segments and Market (In ₹ Mn) Division wise share Region wise share Q2FY26 Q2FY25 Q1FY26 12% 12% 9% 2% 2% 12% 10% 13% 13% 15% 13% ROW 10% 8% 10% Europe 79% 77% North America 76% 74% 77% 74% Q2FY26 Q2FY25 Q1FY26 API PFI FD Peptide/CDMO API PFI FD API PFI FD Peptide/CDMO Q2 F
Slide 10: Q2FY26: Cashflow and Ratios
Q2FY26: Cashflow and Ratios (In ₹ Mn) ROCE % Fixed Asset Turn Net Debt and Net Debt/ EBITDA 1.56 10,241 16.9% 9,480 1.43 1.46 7,973 16.2% 16.0% 0.86 0.96 0.98 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 CCC Cash Flow from CAPEX Operations 2,806 2,112 213 205 204 2,007 1,9
Slide 11: Historical Performance
Historical Performance Earnings Presentation – Q2FY26
Slide 12: Sales and Profitability: Last 6 quarters historical performance
Sales and Profitability: Last 6 quarters historical performance (In ₹ Mn) Revenue Gross Margin and % 8,520 11,799 9,666 11,377 11,974 12,101 12,970 7,591 7,850 2% 2% 6,954 7,020 5,994 65% 66% 76% 77% 76% 77% 74% 74% 63% 62% 62% 59% 8% 8% 12% 10% 10% 10% 16% 15% 12% 12% 13% 13% Q1FY25 Q2FY25 Q3FY25 Q
Slide 13: Cashflow and Ratios: Last 6 quarters historical performance
Cashflow and Ratios: Last 6 quarters historical performance (In ₹ Mn) ROCE% Asset turns Net debt and Net debt/EBITDA 19.6% 10,241 1.74 9,480 16.9% 16.4% 16.6% 8,289 16.0% 16.2% 7,941 7,973 0.96 0.98 1.56 1.56 7,061 1.54 0.90 1.43 1.46 0.86 0.75 0.77 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q1FY25 Q
Slide 14: R&D Capability
R&D Capability Earnings Presentation – Q2FY26
Slide 15: R&D Product pipeline and capability building
R&D Product pipeline and capability building (In ₹ Mn) Integrated Product ✓ Total of ~427 scientist across API, FD R&D and Peptides CDMO Development Peptides Genome Valley – MN Park Senn Chemical AG, ✓ Received 91 approvals till Q2FY26 R&D facility for Integrated Product Switzerland Development ✓ Ro
Slide 16: Granules at a glance
Granules at a glance Earnings Presentation – Q2FY26
Slide 17: Granules Purpose, Vision & Values
Granules Purpose, Vision & Values Earnings Presentation – Q2FY26
Slide 18: An Illustrious Journey Spanning Four Decades
An Illustrious Journey Spanning Four Decades Building A World Class, Vertically Integrated Pharmaceutical Manufacturing Platform From being a paracetamol API manufacturing facility to a multi-faceted global pharmaceutical company, we have consistently achieved manufacturing success, set new standard
Slide 19: Manufacturing Network & Capacity
Manufacturing Network & Capacity Bonthapally Jeedimetla Bonthapally II Vizag (Unit 4) Vizag (Unit 5) API: 4,800 TPA API (Intermediate): API: 15 KL PA API: 34,560 TPA API: 380 KL PA PFI: 1,440 TPA 61.5 KL PA FD: 1.1 Bn Gagillapur Virginia, USA GPAK, USA Genome Valley Senn Chemicals AG, Switzerland FD
Slide 20: Portfolio Expansion: On Strength Of Focused R&D Investments
Portfolio Expansion: On Strength Of Focused R&D Investments & Leveraging Our Core Capabilities Future Portfolio Current Portfolio Innovation/ Tech based products (Enzyme/ Cont. Peptides/ manufacturing) CDMO Our Legacy and our core portfolio Core Products New Core Products C II Products C II New Cont
Slide 21: Business Strategy: Building & Sustaining Key Product Leadership
Business Strategy: Building & Sustaining Key Product Leadership Key Operations and R&D Initiatives to Strengthen and Sustain Our Cost and Market Leadership Backward Integration Process Improvement Formulation Technologies Bio Catalysis + Cont. Mfg. Minimizing Carbon Footprint Earnings Presentation –
Slide 22: Sustainability at Granules: Pioneering Decarbonization of Pharmaceuticals
Sustainability at Granules : Pioneering Innovation for Complete Supply Chain Decarbonization of Pharmaceuticals 23 % Scope1 and Scope2 Near-term, Long-term, and Net Zero targets (2050 or sooner), aligned to 1.5°C pathway, have been validated and approved by SBTi Intensity* *Over base year B 32 % A M
Slide 23: Our CSR Journey: Empowering Communities, Enriching Lives
Our CSR Journey : Empowering Communities, Enriching Lives OUR GOAL OUR PROGRESS Touch 1 Million 1,00,000 + Lives by 2030 Lives Positively Impacted FOCUS AREAS Skill Development 1500 + trained through Pharma Pathashala since inception in 2017 with 250+ in current year Health 10000 + Benefitted from h
Slide 24: Corporate address and investor relations contacts
For investor relation – Granules IR desk Email: investorrelations@granulesindia.com www.granulesindia.com Ms. Payal Dave payal.dave@linkintime.co.in Mr. Irfan Raeen +91 97737 78669 532482 Irfan.raeen@linkintime.co.in GRANULES www.orientcap.com GRAN:IN GRAN:NS Corporate address: 15th Floor, Granules