Granules India Limited · NSE:GRANULES
Granules India — Q4 FY25 Earnings Presentation
34 slides from Granules India's earnings presentation, May 28, 2025
Slide 1: Presentation to Analysts/Investors cover letter
GS GRANULES Date: May 28, 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 audited financial results for the fourth quarter and financial year ended on March 31, 2025, submitted to y
Slide 2: Earnings Presentation FY25 and Q4FY25
Granules India Limited Earnings Presentation FY25 and Q4FY25 28th May 2025 Embracing Change. Shaping Tomorrow. 1
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: Key business updates for Q4 FY25
Key business updates for Q4 FY 25 ▪ Gross Margins: Maintained strong margins for the quarter, were driven by formulations sales and product mix. ▪ Formulation Growth: Sustained increase in formulations' share despite slow down in productivity of Gagillapur facility with ongoing US FDA remediation ac
Slide 5: Quarterly Performance
Quarterly Performance Q4 FY 25 Earnings Presentation – FY25 and Q4 FY25 4
Slide 6: Q4FY25 P&L: Y-o-Y Performance
Q4FY25 P&L: Y-o-Y Performance (In ₹ Mn) Q4 FY25 Q4 FY24 Y-o-Y Gr% Remarks on Y-o-Y performance Revenue 11,974 11,758 2% YoY growth in FD has been offset by the continued decline in API/PFI due to persistent price erosion Gross Margin 7,591 7,061 Achieved better margins by selling higher margin 7% 63
Slide 7: Q4FY25 P&L: Q-o-Q Performance
Q4FY25 P&L: Q-o-Q Performance (In ₹ Mn) Q4 FY25 Q3 FY25 Q-o-Q Gr% Remarks on Q-o-Q performance Increase in FD and API sales led to higher revenue Revenue 11,974 11,377 5% though price erosion partially offset the overall sales growth Gross Margin 7,591 7,020 Achieved better margins by selling higher
Slide 8: Q4FY25: Revenue split by Segments and Market
Q4FY25 : Revenue spilt by Segments and Market (In ₹ Mn) Division wise share Region wise share Q4 FY25 5% 3% 3% Q4 FY24 Q3 FY25 5% 5% 5% 3% 6% 5% 9% 8% 17% ROW 13% 12% 10% LATAM 12% India 14% 12% Europe 77% 79% North America 70% 73% 76% 77% FD API PFI FD API PFI FD API PFI Q4 FY24 Q3 FY25 Q4 FY25 Q4
Slide 9: Q4FY25 Cashflow and Ratios: Q-o-Q
Q4FY25 Cashflow and Ratios : Q-o-Q (In ₹ Mn) Q4 Q3 Q4 Q3 Q4 Q3 FY25 FY25 FY25 FY25 FY25 FY25 Fixed Net debt/ ROCE% 16.6% 16.4% asset turn 1.54 1.56 EBITDA 0.75x 0.90x Slight increase in ROCE% due to increase in Capital expenditure increased due to ongoing EBITDA margin and CCC days improvement EBIT
Slide 10: Historical Performance
Historical Performance Earnings Presentation – FY25 and Q4 FY25 9
Slide 11: Sales and profitability: Last 6 quarters historical performance
Sales and profitability : Last 6 quarters historical performance (In ₹ Mn) Sales Gross Margin and GM% 11,974 7,591 11,556 11,758 11,799 11,377 7,062 6,954 7,020 6,583 9,666 5,994 62.0% 61.7% 63.4% 60.1% 58.9% 57.0% Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 E
Slide 12: 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 9,285 1.78 1.77 8,421 1.74 7,941 7,973 8,289 19.6% 7,061 16.5% 16.9% 16.4% 16.6% 1.56 1.56 15.3% 1.54 0.98 1.16 0.90 0.86 0.77 0.75 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q3FY24 Q4
Slide 13: Yearly Performance
Yearly Performance FY 25 Earnings Presentation – FY25 and Q4 FY25 12
Slide 14: FY25 P&L: Y-o-Y Performance
FY25 P&L: Y-o-Y Performance (In ₹ Mn) FY25 FY24 Y-o-Y Gr% Remarks on Y-o-Y performance Formulations sales grew by 18% despite a voluntary pause of Revenue production in Sep’24 at the Gagillapur facility in response to US- 44,816 45,064 -1% FDA observations and with remediation efforts, slow down of
Slide 15: FY25: Revenue split by Segments and Market
FY25 : Revenue spilt by Segments and Market (In ₹ Mn) Division wise share Region wise share FY24 FY25 5% 4% 5% 5% 5% 5% 10% 20% ROW 14% 10% LATAM 14% India 22% Europe 77% North America 65% 66% 77% FD API PFI FY24 FY25 FD API PFI FY24 FY25 Y-o-Y Gr% FY24 FY25 Y-o-Y Gr% North America 29,867 34,535 16%
Slide 16: FY25 Cashflow and Ratios: Y-o-Y
FY25 Cashflow and Ratios : Y-o-Y (In ₹ Mn) FY25 FY24 FY25 FY24 FY25 FY24 Fixed Net debt/ ROCE% 16.6% 16.5% asset turn 1.54 1.77 EBITDA 0.75x 0.98x Slight increase in ROCE% due to increase in Revenue remained flat year-over-year, while Better EBITDA helped in significantly EBIT capital expenditure in
Slide 17: Historical Performance
Historical Performance Earnings Presentation – FY25 and Q4 FY25 16
Slide 18: Sales and profitability: Last 5 years historical performance
Sales and profitability : Last 5 years historical performance (In ₹ Mn) Sales Gross Margin and GM% 27,559 45,119 45,064 44,816 24,851 22,046 37,649 18,463 18,813 61.5% 32,375 55.1% 50.0% 48.9% 57.0% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 EBITDA and EBITDA % PAT and PAT % 9,138 9,452 8,552
Slide 19: Cashflow and Ratios: Last 5 years historical performance
Cashflow and Ratios: Last 5 years historical performance (In ₹ Mn) ROCE% Asset turns Net debt and Net debt/EBITDA 28.6% 1.98 2.02 2.06 8,421 7,671 7,061 21.1% 1.77 6,966 19.3% 1.54 5,752 16.5% 16.6% 0.97 0.84 0.98 0.67 0.75 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 N
Slide 20: Granules at a glance
Granules at a glance Earnings Presentation – FY25 and Q4 FY25 19
Slide 21: Granules Purpose, Vision & Values
Granules Purpose, Vision & Values Earnings Presentation – FY25 and Q4 FY25 20
Slide 22: 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 23: 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 Senn, Gagillapur Virginia, USA GPAK, USA Genome Valley Switzerland FD: 26.8 Bn 2 O
Slide 24: Business Strategy Update
Business Strategy Update Earnings Presentation – FY25 and Q4 FY25 23
Slide 25: Moving up the value-chain and Product Diversification
Business Strategy : Moving up the value-chain and Product Diversification Moving up with the Value Chain Product Diversification Revenue Share By Business Segment Revenue Share By Product Segment FD API+PFI Legacy 5 Products Non-Legacy 90% 4% 12% 14% 14% 14% 17% 15% 16% 16% 80% 77% 19% 25% 68% 68% 3
Slide 26: Strengthening Business in North America
Business Strategy : Strengthening Business in North America North America Growth Trajectory (INR Mn) Unique Manufacturing Platform of Optimizing “Make in India” (GIL) and “Make in America” (GPI , GPAK) 34,535 Market leadership in CNS/ADHD (GPI operations), adding to the leadership position in large
Slide 27: Expanding Reach Through Commercial Excellence
Business Strategy : Expanding Reach Through Commercial Excellence Replicate commercial success of North America in other key markets Strengthening Teams | Building Commercial Excellence Processes ▪ Revamped and augmented Commercial leadership team ▪ Formulation Driven Growth in Europe through key pa
Slide 28: Building R&D Capability and Product Pipeline
Business Strategy: Building R&D Capability and Product Pipeline R&D Expenditure (INR Mn) R&D Exp % to Sales Integrated Product Development 2,500 7.0% # Scientists Genome Valley – MN Park ~405 Across API & FD R&D R&D facility for Integrated Product Development 6.0% 2,000 5.3% ▪ Fast tracking product
Slide 29: Portfolio Expansion: Focused R&D Investments
Portfolio Expansion: On Strength Of Focused R&D Future Portfolio Investments & Leveraging Our Core Capabilities Current Portfolio Innovation/ Tech based products (Enzyme/ Cont. Peptides manufacturing) Our Legacy and our core portfolio Core Products New Core Products C II Products C II New Controlled
Slide 30: ANDA/Dossier filing status
ANDA/Dossier filing status ANDA/Dossier filed - Therapeutic area Tentatively Filing Status Approved Filed Total Products Approved CNS 26 Analgesic 20 GPI IP USA 31 0 3 34 Others areas 18 USA 37 1 13 51 Anti-diabetic 13 Europe 8 0 10 18 Anti Ulcer 13 Cardiovascular 11 GIL IP Canada 7 0 0 7 Anti-Infla
Slide 31: 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 32: Sustainability at Granules: Supply Chain Decarbonization
Sustainability at Granules : Pioneering Innovation for Complete Supply Chain Decarbonization of Pharmaceuticals 23 % Scope1 and Scope2 Intensity* Near-term, Long-term, and Net Zero targets (2050 or sooner), aligned *Over base year to 1.5°C pathway, have been validated and approved by SBTi 32 % B Sco
Slide 33: Social Impact Initiative: Pharma Pathshala
Social Impact Initiative : Pharma Pathshala at Swarna Bharat Trust Granules initiative to train a rural workforce through the Swarna Bharat Trust 1,450+ Students trained through Pharma Pathshala Earnings Presentation – FY25 and Q4 FY25 32
Slide 34: Investor relations contact
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