Granules India's second quarter earnings were more or less inline or a tad bit lower than what the street was working with but their overall performance has been largely in-line.
Granules India‘s Gagillapur Plant gets an all-clear certificate from Portuguese Regulator INFARMED post re-inspection done from January 31 to Feb 2.
Granules India is looking at expanding its business to new geographies. The company is targeting 30-40 percent bottomline growth in FY18, C Krishna Prasad, MD of company said.
Granules India gets US FDA approval for orange-coloured 200 mg version of ibuprofen. Speaking to CNBC-TV18, C Krishna Prasad said that the market for orange-coloured tablet is around USD 49 million.
In an interview with CNBC-TV18, C Krishna Prasad, MD of Granules India said that four domestic plants were inspected by USFDA and one plant is due for inspection soon.
C Krishna Prasad, MD of Granules India expects a 15 percent revenue growth in Q4 and 15-20 percent rise in FY17.
C Krishna Prasad, MD, Granules India says margins in contract research and manufacturing services (CRAMS) business is relatively high and expects 30-35 percent of capacity utilization in the same.
C Krishna Prasad, Managing Director (MD) of Granules India said with only three to four main competitors in the US market, the company‘s topline and bottomline will benefit from the drug.
C Krishna Prasad, MD, Granules India says the company has secured businesses from Wal-Mart and CVS and incremental benefits will come going forward.
Revenue growth for the global pharmaceutical company stands at 15 percent for FY15 and 25 percent for FY16. Going ahead, the company awaits FDA approval for their new plant, C Krishna Prasad adds.
Speaking to CNBC-TV18 on the acquisition of the Rs 100 crore company, C Krishna Prasad, managing director, Granules India, says the deal has been funded by a mix of accruals and debt.
"We have expanded significantly over the last two years, our assets are yielding right now a lot of the profit is because of growth in revenue," Granules India executive director Harsha Chigurupati said elaborating reasons for strong growth.
Harsha Chigurupati, director, Granules India, says that last year the company reported a major increase in profit due to forex gains of around Rs 8 crore. This year too, the company performed better than previous year. There has been improvement in revenues and the company expects revenues to grow at 30 percent in FY14.
C Krishna Prasad, MD, Granules India, spoke to CNBC-TV 18 about the company's performance and what to expect in the days to come.