{"id":9653,"date":"2016-08-11T17:17:56","date_gmt":"2016-08-11T11:47:56","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=9653"},"modified":"2016-08-11T17:17:56","modified_gmt":"2016-08-11T11:47:56","slug":"granules-india-ltd","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/granules-india-ltd\/9653","title":{"rendered":"Granules India Ltd"},"content":{"rendered":"<p style=\"text-align: justify;\">Granules India (Granules) is an integrated Indian pharmaceutical company. It\u00a0manufactures Finished Dosages (FDs), Pharmaceutical Formulation\u00a0Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs). It caters to\u00a0more than 300 clients (including some of the prominent branded and generic\u00a0players) across 75 nations.<\/p>\n<p>View and Valuation<\/p>\n<p style=\"text-align: justify;\">We expect revenue and PAT to grow at a CAGR of 20.8% &amp; 39.8%\u00a0respectively over FY16-18E. Further, EBITDA margins are expected to improve\u00a0by 270bps on account of ramp up in PFIs production and limited competition\u00a0launches. Hence, we initiate Granules with a BUY rating with a TP of Rs.166\u00a0based on 15.5x FY18E EPS.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2016\/08\/Research-Report-Granules-India-Ltd.pdf\">Research Report Granules India Ltd<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Granules India (Granules) is an integrated Indian pharmaceutical company. It\u00a0manufactures Finished Dosages (FDs), Pharmaceutical Formulation\u00a0Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs). It caters to\u00a0more than 300 clients (including some of the prominent branded and generic\u00a0players) across 75 nations. View and Valuation We expect revenue and PAT to grow at a CAGR of 20.8% &amp; 39.8%\u00a0respectively [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Granules India Ltd<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Granules India Ltd. 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