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Granules India

BSE:532482
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
532482
BSE
₹26B
Market Cap
  1. Home
  2. IN
  3. Pharmaceuticals & Biotech
Company description

Granules India Limited manufactures and sells active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates, and finished dosages (FDs) in India and internationally. The last earnings update was 19 days ago. More info.


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532482 Share Price and Events
7 Day Returns
-4.8%
BSE:532482
-3.1%
IN Pharmaceuticals
0.1%
IN Market
1 Year Returns
-18.5%
BSE:532482
4.2%
IN Pharmaceuticals
3.2%
IN Market
532482 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Granules India (532482) -4.8% 6.4% -9.6% -18.5% -32.9% 507.8%
IN Pharmaceuticals -3.1% -2.7% -6.2% 4.2% 2.4% 164.3%
IN Market 0.1% 2.9% -7.3% 3.2% 71.1% 216.5%
1 Year Return vs Industry and Market
  • 532482 underperformed the Pharmaceuticals industry which returned 4.2% over the past year.
  • 532482 underperformed the Market in India which returned 3.2% over the past year.
Price Volatility
532482
Industry
5yr Volatility vs Market

Value

 Is Granules India undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Granules India to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Granules India.

BSE:532482 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:532482
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.7%
Equity Risk Premium S&P Global 7.3%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.41
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.414 (1 + (1- 35%) (42.58%))
0.529
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.73% + (0.8 * 7.27%)
13.55%

Discounted Cash Flow Calculation for BSE:532482 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Granules India is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:532482 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 423.00 1,650.33 1,422.00 1,573.20 1,740.48
Source Analyst x2 Analyst x3 Analyst x2 Est @ 10.63% Est @ 10.63%
Present Value
Discounted (@ 13.55%)
372.54 1,280.05 971.37 946.45 922.17
Present value of next 5 years cash flows $4,492.57
BSE:532482 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $1,740.48 × (1 + 7.73%) ÷ (13.55% – 7.73%)
$32,238.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $32,238.91 ÷ (1 + 13.55%)5
$17,081.31
BSE:532482 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $4,492.57 + $17,081.31
$21,573.88
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $21,573.88 / 254.25
$84.85
BSE:532482 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹84.85
Current discount Discount to share price of ₹100.20
= -1 x (₹100.20 - ₹84.85) / ₹84.85
-18.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Granules India is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Granules India's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Granules India's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:532482 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $6.60
BSE:532482 Share Price ** BSE (2018-11-16) in INR ₹100.2
India Pharmaceuticals Industry PE Ratio Median Figure of 111 Publicly-Listed Pharmaceuticals Companies 21.38x
India Market PE Ratio Median Figure of 2,719 Publicly-Listed Companies 17.48x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Granules India.

BSE:532482 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:532482 Share Price ÷ EPS (both in USD)

= 100.2 ÷ 6.60

15.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Granules India is good value based on earnings compared to the IN Pharmaceuticals industry average.
  • Granules India is good value based on earnings compared to the India market.
Price based on expected Growth
Does Granules India's expected growth come at a high price?
Raw Data
BSE:532482 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
25.5%per year
India Pharmaceuticals Industry PEG Ratio Median Figure of 34 Publicly-Listed Pharmaceuticals Companies 1.32x
India Market PEG Ratio Median Figure of 650 Publicly-Listed Companies 1.13x

*Line of best fit is calculated by linear regression .

BSE:532482 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.19x ÷ 25.5%

0.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Granules India is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Granules India's assets?
Raw Data
BSE:532482 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $55.65
BSE:532482 Share Price * BSE (2018-11-16) in INR ₹100.2
India Pharmaceuticals Industry PB Ratio Median Figure of 129 Publicly-Listed Pharmaceuticals Companies 2.06x
India Market PB Ratio Median Figure of 3,496 Publicly-Listed Companies 1.22x
BSE:532482 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:532482 Share Price ÷ Book Value per Share (both in USD)

= 100.2 ÷ 55.65

1.8x

* Primary Listing of Granules India.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Granules India is good value based on assets compared to the IN Pharmaceuticals industry average.
X
Value checks
We assess Granules India's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Granules India has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Granules India expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
25.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Granules India expected to grow at an attractive rate?
  • Granules India's earnings growth is expected to exceed the low risk savings rate of 7.7%.
Growth vs Market Checks
  • Granules India's earnings growth is expected to exceed the India market average.
  • Granules India's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:532482 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:532482 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 25.5%
BSE:532482 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 15%
India Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 21.7%
India Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 12.9%
India Market Earnings Growth Rate Market Cap Weighted Average 18.3%
India Market Revenue Growth Rate Market Cap Weighted Average 11.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:532482 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:532482 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 28,385 2,702 3,345 2
2020-03-31 23,580 2,731 2,522 9
2019-03-31 20,672 2,609 2,011 6
BSE:532482 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 19,487 1,675
2018-06-30 17,603 1,476
2018-03-31 16,846 -7 1,326
2017-12-31 15,361 1,578
2017-09-30 14,785 1,619
2017-06-30 14,456 1,624
2017-03-31 14,106 1,882 1,645
2016-12-31 14,971 1,473
2016-09-30 14,626 1,374
2016-06-30 14,524 1,289
2016-03-31 13,572 1,514 1,230
2015-12-31 14,147 1,077

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Granules India's earnings are expected to grow significantly at over 20% yearly.
  • Granules India's revenue is expected to grow by 15% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:532482 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Granules India Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:532482 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 13.20 13.20 13.20 2.00
2020-03-31 9.92 12.00 7.30 10.00
2019-03-31 7.93 8.90 7.60 8.00
BSE:532482 Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 6.60
2018-06-30 5.95
2018-03-31 5.49
2017-12-31 6.76
2017-09-30 7.19
2017-06-30 7.32
2017-03-31 7.52
2016-12-31 6.82
2016-09-30 6.46
2016-06-30 6.14
2016-03-31 5.95
2015-12-31 5.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Granules India is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Granules India's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Granules India has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Granules India performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Granules India's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Granules India's year on year earnings growth rate has been positive over the past 5 years.
  • Granules India's 1-year earnings growth is less than its 5-year average (3.5% vs 18.7%)
  • Granules India's earnings growth has not exceeded the IN Pharmaceuticals industry average in the past year (3.5% vs 20.7%).
Earnings and Revenue History
Granules India's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Granules India Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:532482 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 19,486.55 1,675.09 2,036.63
2018-06-30 17,603.48 1,475.85 1,764.24
2018-03-31 16,846.22 1,325.91 1,801.06
2017-12-31 15,360.56 1,578.27 1,692.18
2017-09-30 14,785.00 1,618.73 1,637.90
2017-06-30 14,455.67 1,623.61 1,453.33
2017-03-31 14,105.65 1,645.19 1,503.72
2016-12-31 14,971.28 1,472.99 1,614.19 84.54
2016-09-30 14,626.48 1,374.42 1,479.31 62.91
2016-06-30 14,523.56 1,288.92 1,422.91 27.89
2016-03-31 13,571.75 1,230.01 1,282.95
2015-12-31 14,147.34 1,076.79 2,376.72 187.26
2015-09-30 13,895.20 1,040.88 2,366.30 159.89
2015-06-30 13,307.12 951.91 2,317.09 134.36
2015-03-31 12,936.82 909.08 1,154.61
2014-12-31 12,572.71 921.36 2,260.99 51.09
2014-09-30 12,216.51 903.77 2,188.43 56.88
2014-06-30 11,785.92 834.05 1,471.92 63.59
2014-03-31 10,973.42 752.31 2,051.36 93.76
2013-12-31 9,836.54 640.19 1,656.12 48.83
2013-09-30 8,948.23 480.19 1,569.22 50.57
2013-06-30 8,033.96 409.87 1,104.62 48.45
2013-03-31 7,652.52 325.67 1,426.09 54.61
2012-12-31 7,487.51 365.33 1,297.23 46.09
2012-09-30 7,392.53 387.14 1,247.06 40.90
2012-06-30 7,251.51 330.96 1,151.56 31.32
2012-03-31 6,546.57 299.53 1,098.57 27.14
2011-12-31 5,856.43 223.93 795.05 32.08

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Granules India has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Granules India used its assets less efficiently than the IN Pharmaceuticals industry average last year based on Return on Assets.
  • Granules India's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Granules India's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Granules India has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Granules India's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Granules India's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Granules India is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Granules India's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Granules India's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Granules India Company Filings, last reported 1 month ago.

BSE:532482 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 14,150.35 10,978.26 1,127.53
2018-06-30 13,041.76 9,582.30 1,170.67
2018-03-31 13,041.76 9,784.41 1,080.33
2017-12-31 12,609.28 7,630.44 1,473.02
2017-09-30 12,609.28 7,630.44 1,473.02
2017-06-30 9,035.95 5,980.75 522.74
2017-03-31 9,035.95 6,565.02 423.70
2016-12-31 7,323.79 5,573.01 351.20
2016-09-30 7,323.79 5,573.01 351.20
2016-06-30 6,660.39 4,741.43 1,418.84
2016-03-31 6,616.00 6,413.95 1,302.90
2015-12-31 5,372.75 3,932.96 957.74
2015-09-30 5,372.75 3,932.96 957.74
2015-06-30 4,311.64 4,871.74 653.07
2015-03-31 4,311.64 4,822.29 653.07
2014-12-31 4,021.52 4,447.73 465.95
2014-09-30 4,021.52 4,447.73 465.95
2014-06-30 3,559.62 4,101.53 417.47
2014-03-31 3,559.62 4,417.28 417.47
2013-12-31 3,054.22 3,318.00 684.71
2013-09-30 3,054.22 3,318.00 684.71
2013-06-30 2,748.51 2,609.55 511.65
2013-03-31 2,748.51 2,704.77 511.65
2012-12-31 2,598.79 2,038.35 199.44
2012-09-30 2,598.79 2,038.35 199.44
2012-06-30 2,450.89 2,151.59 319.82
2012-03-31 2,450.89 2,036.15 319.82
2011-12-31 2,253.89 1,574.26 194.09
  • Granules India's level of debt (77.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (108.6% vs 77.6% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 11.2x coverage).
X
Financial health checks
We assess Granules India's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Granules India has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Granules India's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1%
Current annual income from Granules India dividends. Estimated to be 1.44% next year.
If you bought ₹2,000 of Granules India shares you are expected to receive ₹20 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Granules India's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • Granules India's dividend is below the markets top 25% of dividend payers in India (1.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:532482 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
India Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 0.7%
India Market Average Dividend Yield Market Cap Weighted Average of 1390 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.2%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:532482 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 1.40 2.00
2020-03-31 1.57 6.00
2019-03-31 1.33 6.00
BSE:532482 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-10-29 1.000 0.981
2018-07-23 1.000 0.970
2018-05-24 1.000 1.198
2018-02-08 1.000 0.938
2017-11-09 1.000 0.768
2017-08-14 1.000 0.777
2017-05-11 1.000 0.728
2017-01-30 1.000 0.745
2016-10-25 0.800 0.725
2016-08-11 0.800 0.647
2016-04-28 0.800 0.583
2016-01-28 0.600 0.511
2015-11-02 0.600 0.422
2015-07-28 0.600 0.470
2015-07-20 0.500 0.478
2015-04-27 0.500 0.592
2014-08-04 0.350 0.438
2014-04-25 0.350 0.796
2013-09-16 0.200 0.998
2012-07-02 0.200 1.450
2011-07-28 0.150 2.019
2011-04-29 0.150 1.709
2010-07-26 0.125 1.324
2009-05-04 0.125 1.534
2008-11-18 0.125 3.337

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Granules India's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (7.7x coverage).
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Income/ dividend checks
We assess Granules India's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Granules India afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Granules India has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Granules India's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Krishna Chigurupati
COMPENSATION $112,113,000
AGE 64
TENURE AS CEO 9.2 years
CEO Bio

Mr. Krishna Prasad Chigurupati, B.Sc. has been Managing Director of Granules India Limited since September 1, 2009. Mr. Chigurupati serves as Chairman of Granules India Limited and has been its Non-Independent Executive Director since August 31, 1994. He serves as a Director of GIL Lifesciences Private Limited. Mr. Chigurupati is a technocrat with 30 years of experience in the pharmaceutical industry. In 1984, he established triton laboratories limited, one of the largest manufacturers of Paracetamol in the world. Mr. Chigurupati pioneered the concept of commercialising Pharmaceutical Formulation intermediates (PFi) and established Granules India to promote PFis. with his leadership, Granules is among the premier pharmaceutical companies in the world and has a footprint in over 50 countries. Mr. Chigurupati has won various awards and is the first Indian to run a marathon on seven continents and the North Pole.

CEO Compensation
  • Krishna's compensation has been consistent with company performance over the past year.
  • Krishna's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Granules India management team in years:

4.3
Average Tenure
48
Average Age
  • The tenure for the Granules India management team is about average.
Management Team

Krishna Chigurupati

TITLE
Chairman & MD
COMPENSATION
$112M
AGE
64
TENURE
9.2 yrs

Karuppannan Ganesh

TITLE
Chief Financial Officer
COMPENSATION
$15M
TENURE
1.5 yrs

Sreekanth Muttineni

TITLE
Chief Operating Officer

V. Raju

TITLE
Chief Scienific & Strategy Officer and Whole Time Director
COMPENSATION
$22M
AGE
44

Chaitanya Tummala

TITLE
Company Secretary & Compliance Officer
COMPENSATION
$3M
TENURE
4.3 yrs

Stefan Corredor

TITLE
Chief Marketing Officer

Sumanta Bajpayee

TITLE
Assistant General Manager of Corporate Finance & Investor Relations

P. S. Murthy

TITLE
Senior Vice President of Human Resources

Atul Dhavle

TITLE
Chief Human Resources Officer & Head of Operational Excellence
AGE
48

Desireddy Reddy

TITLE
Senior Vice President of GPI
Board of Directors Tenure

Average tenure and age of the Granules India board of directors in years:

8.5
Average Tenure
63
Average Age
  • The tenure for the Granules India board of directors is about average.
Board of Directors

V. Raju

TITLE
Chief Scienific & Strategy Officer and Whole Time Director
COMPENSATION
$22M
AGE
44
TENURE
1.8 yrs

Comandur Parthasarathy

TITLE
Lead Independent Director
COMPENSATION
$740K
AGE
63

Krishna Chigurupati

TITLE
Chairman & MD
COMPENSATION
$112M
AGE
64

Arun Akinepally

TITLE
Independent Non-Executive Director
COMPENSATION
$1M
AGE
61
TENURE
8.6 yrs

Uma Chigurupati

TITLE
Non-Independent Executive Director
COMPENSATION
$90M
AGE
59
TENURE
6.5 yrs

Kolli Basava Rao

TITLE
Non-Executive Non-Independent Director
COMPENSATION
$800K
AGE
64
TENURE
5.8 yrs

Arrattukulam Kurian

TITLE
Independent Non-Executive Director
COMPENSATION
$210K
AGE
84
TENURE
15.4 yrs

Lakkavajjala Sarma

TITLE
Independent Non-Executive Director
COMPENSATION
$870K
AGE
90
TENURE
18.8 yrs

Harsha Chigurupati

TITLE
Non-Executive Non-Independent Director
COMPENSATION
$240K
AGE
35
TENURE
8.3 yrs

Krishna Ella

TITLE
Independent Non-Executive Director
COMPENSATION
$80K
AGE
63
TENURE
9.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Granules India insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
05. Nov 18 Buy Krishna Chigurupati Individual 02. Nov 18 02. Nov 18 3,875 ₹103.74 ₹401,999
13. Aug 18 Buy Priyanka Chigurupati Individual 02. Aug 18 02. Aug 18 3,700 ₹81.08 ₹300,000
12. Jun 18 Buy J. Sathyanarayana Individual 07. Jun 18 07. Jun 18 15,000 ₹7.77 ₹116,500
03. May 18 Sell Raghavaiah Gottipati Individual 30. Apr 18 30. Apr 18 -22,200 ₹108.07 ₹-2,399,048
04. Dec 17 Sell Stefan Corredor Individual 01. Dec 17 04. Dec 17 -20,000 ₹128.00 ₹-2,559,999
29. Nov 17 Buy Uma Chigurupati Individual 24. Nov 17 27. Nov 17 15,200 ₹125.39 ₹1,905,999
29. Nov 17 Buy Tyche Technologies Pvt. Ltd. Company 24. Nov 17 27. Nov 17 53,500 ₹126.11 ₹6,746,999
29. Nov 17 Buy Krishna Chigurupati Individual 24. Nov 17 27. Nov 17 143,463 ₹125.50 ₹18,003,997
X
Management checks
We assess Granules India's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Granules India has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

How Did Granules India Limited's (BOM:532482) 10.17% ROE Fare Against The Industry?

and want a simplistic look at the return on Granules India Limited (BOM:532482) stock. … Granules India Limited (BOM:532482) delivered an ROE of 10.17% over the past 12 months, which is relatively in-line with its industry average of 10.68% during the same period. … Return on Equity (ROE) is a measure of Granules India’s profit relative to its shareholders’ equity.

Simply Wall St -

Top Growth Stocks This Week

BSE:532482 Future Profit Jan 30th 18 Indian Bank (BSE:532814) Indian Bank provides various banking product and services in India and internationally. … BSE:532814 Future Profit Jan 30th 18 Vijaya Bank (BSE:532401) Vijaya Bank provides various banking products and services primarily in India. … BSE:532401 Future Profit Jan 30th 18 For more financially robust companies with high growth potential to enhance your portfolio, use our free platform to explore our interactive list of these stocks.

Simply Wall St -

Company Info

Map
Description

Granules India Limited manufactures and sells active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates, and finished dosages (FDs) in India and internationally. The company's APIs in various therapeutic categories include anti-retrovirals, anti-hypertensives, anti-histamines, anti-infectives, analgesics, anti-coagulants, anti-fibriotics, and platelet inhibitors. It also offers various FDs, such as tablets, caplets, and press-fit capsules in bulk, blister packs, and bottles; and other specialty products for oncology. Granules India Limited was founded in 1984 and is headquartered in Hyderabad, India.

Details
Name: Granules India Limited
532482
Exchange: BSE
Founded: 1984
₹25,780,702,786
254,247,562
Website: http://www.granulesindia.com
Address: Granules India Limited
My Home Hub,
2nd Floor,
Hyderabad,
Andhra Pradesh, 500081,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 532482 Equity Shares Mumbai Stock Exchange IN INR 07. Feb 2003
NSEI GRANULES Equity Shares National Stock Exchange of India IN INR 07. Feb 2003
Number of employees
Current staff
Staff numbers
2,602
Granules India employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/17 11:40
End of day share price update: 2018/11/16 00:00
Last estimates confirmation: 2018/11/05
Last earnings filing: 2018/10/29
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.