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Last Updated: April 2, 2026, 2:59 am
Author: Getaka|Social: XLinkedIn

Granules India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹511.86Overvalued by 18.49%vs CMP ₹628.00

P/E (28.0) × ROE (13.9%) × BV (₹164.00) × DY (0.24%)

₹329.41Overvalued by 47.55%vs CMP ₹628.00
MoS: -90.6% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹543.6022%Over (-13.4%)
Graham NumberEarnings₹288.0116%Over (-54.1%)
Earnings PowerEarnings₹93.2213%Over (-85.2%)
DCFCash Flow₹245.3213%Over (-60.9%)
Net Asset ValueAssets₹164.117%Over (-73.9%)
EV/EBITDAEnterprise₹409.269%Over (-34.8%)
Earnings YieldEarnings₹224.807%Over (-64.2%)
ROCE CapitalReturns₹571.759%Fair (-9%)
Revenue MultipleRevenue₹184.675%Over (-70.6%)
Consensus (9 models)₹329.41100%Overvalued
Key Drivers: Wide model spread (₹93–₹572) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.2%

*Investments are subject to market risks

Investment Snapshot

63
Granules India Ltd scores 63/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health76/100 · Strong
ROCE 15.1% GoodROE 13.9% GoodD/E 0.38 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.55% (6mo) Slight increaseDII holding down 5.01% MF sellingPromoter holding at 38.0% Stable
Earnings Quality50/100 · Moderate
OPM stable around 20% Steady
Quarterly Momentum68/100 · Strong
Revenue (4Q): +14% YoY GrowingProfit (4Q): +14% YoY Positive
Industry Rank60/100 · Moderate
P/E 28.0 vs industry 53.8 Cheaper than peersROCE 15.1% vs industry 16.4% Average3Y sales CAGR: 6% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:59 am

Market Cap 15,242 Cr.
Current Price 628
Intrinsic Value₹329.41
High / Low 640/412
Stock P/E28.0
Book Value 164
Dividend Yield0.24 %
ROCE15.1 %
ROE13.9 %
Face Value 1.00
PEG Ratio4.52

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Granules India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Granules India Ltd 15,242 Cr. 628 640/41228.0 1640.24 %15.1 %13.9 % 1.00
Neuland Laboratories Ltd 16,182 Cr. 12,613 19,748/10,06090.3 1,2630.10 %18.7 %14.8 % 10.0
Alembic Pharmaceuticals Ltd 13,308 Cr. 677 1,108/63520.1 2711.62 %13.0 %11.4 % 2.00
Jubilant Pharmova Ltd 13,008 Cr. 817 1,250/78428.2 4140.61 %9.54 %9.55 % 1.00
Natco Pharma Ltd 17,945 Cr. 1,002 1,060/66011.5 4830.60 %32.8 %28.0 % 2.00
Industry Average19,815.15 Cr1,053.8453.84201.200.39%16.35%15.16%6.10

All Competitor Stocks of Granules India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,1461,1969861,1891,1561,1761,1809671,1381,1971,2101,2971,388
Expenses 9159678499779059209217639079459631,0191,080
Operating Profit 231228137213250256259203230252247278308
OPM % 20%19%14%18%22%22%22%21%20%21%20%21%22%
Other Income 13021223633-10-1-4
Interest 17192226292927262724242929
Depreciation 48494953525353535764697274
Profit before tax 16716465136170176181128153198145176202
Tax % 26%27%27%25%26%26%26%24%23%23%22%26%26%
Net Profit 1241204810212613013597118152113131150
EPS in Rs 5.144.941.984.215.185.355.564.014.856.274.645.386.19

Last Updated: February 5, 2026, 8:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 6:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,0841,2921,3571,4111,6852,2792,5993,2383,7654,5124,5064,4825,092
Expenses 9251,0821,0811,1121,4061,8952,0732,3823,0383,5973,6483,5344,007
Operating Profit 1592102762992783845268567279158589481,085
OPM % 15%16%20%21%17%17%20%26%19%20%19%21%21%
Other Income 4353527759026131224118
Interest 20323732332827262356106103106
Depreciation 3053587276105137151159184207226278
Profit before tax 112128186230196326451704558687547660720
Tax % 33%29%33%28%32%27%26%22%26%25%26%24%
Net Profit 7591123165133236335549413517405502545
EPS in Rs 3.714.455.687.195.229.3013.1922.1816.6421.3416.7220.6822.48
Dividend Payout % 9%11%11%13%19%11%8%7%9%7%9%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)21.33%35.16%34.15%-19.39%77.44%41.95%63.88%-24.77%25.18%-21.66%23.95%
Change in YoY Net Profit Growth (%)0.00%13.83%-1.02%-53.54%96.84%-35.49%21.93%-88.65%49.95%-46.85%45.61%

Granules India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:12%
3 Years:6%
TTM:-4%
Compounded Profit Growth
10 Years:18%
5 Years:9%
3 Years:5%
TTM:-3%
Stock Price CAGR
10 Years:16%
5 Years:8%
3 Years:19%
1 Year:-27%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:15%
Last Year:14%

Last Updated: September 5, 2025, 5:15 am

Balance Sheet

Last Updated: December 4, 2025, 1:18 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 20202223252525252524242424
Reserves 3364116408811,2791,5041,8182,1492,5622,8113,2013,6913,959
Borrowings 4424826416569789918928491,1061,1361,3151,4551,807
Other Liabilities 1942892603193884584876908199329571,0511,154
Total Liabilities 9921,2031,5631,8792,6702,9793,2233,7134,5124,9035,4986,2216,944
Fixed Assets 4826175606447779441,2041,3321,5411,9112,0962,4262,816
CWIP 1256277267515496294239356239272440702
Investments 00701081572101919202122221
Other Assets 3855248568591,2221,3281,7062,1232,5942,7323,1093,3333,425
Total Assets 9921,2031,5631,8792,6702,9793,2233,7134,5124,9035,4986,2216,944

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 108150151188-1262476432332739439867
Cash from Investing Activity + -255-146-162-326-462-270-160-277-379-192-358-689
Cash from Financing Activity + 147198656529-17-213-299190-4408-93
Net Cash Flow 02475-8266-25103-1441431079085
Free Cash Flow -1573-10-127-447-17292161-6532861297
CFO/OP 83%87%72%83%21%91%113%73%66%100%73%107%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-283.00-272.00-365.00-357.00-700.00-607.00-366.007.00726.00914.00857.00947.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 3739101108136108938690778077
Inventory Days 99110128145114112125205190182235284
Days Payable 77929111611294102142124124135154
Cash Conversion Cycle 5957138137138126116150156135179207
Working Capital Days 1469-24248636244363542
ROCE %20%19%20%18%12%15%17%25%17%19%15%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Feb 2026
Promoters 42.02%41.97%41.97%41.96%38.87%38.87%38.85%38.83%38.82%38.81%38.81%38.02%
FIIs 21.35%21.48%18.78%19.57%20.39%19.49%15.87%15.14%13.24%14.09%13.55%13.79%
DIIs 6.68%7.06%10.16%10.70%14.11%14.85%19.57%22.45%23.52%17.91%17.47%18.51%
Public 29.95%29.51%29.10%27.77%26.61%26.80%25.71%23.56%24.41%29.17%30.15%29.68%
No. of Shareholders 2,01,0542,07,0551,90,6911,82,1421,79,8702,02,1981,77,5541,69,8021,69,7001,65,5421,63,1841,63,818

Shareholding Pattern Chart

No. of Shareholders

Granules India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Aditya Birla Sun Life Value Fund 2,409,608 2.2 137.492,441,2582026-02-23 00:33:13-1.3%
Edelweiss Balanced Advantage Fund 2,179,353 0.95 124.352,209,6682026-02-23 00:33:13-1.37%
Old Bridge Focused Fund 1,582,000 3.73 90.27N/AN/AN/A
Aditya Birla Sun Life Small Cap Fund 1,106,670 1.32 63.15N/AN/AN/A
Tata Aggressive Hybrid Fund 1,092,055 1.55 62.311,100,0002026-02-23 00:33:13-0.72%
Aditya Birla Sun Life Multi-Cap Fund 1,038,748 0.91 59.27N/AN/AN/A
Tata Mid Cap Fund 1,000,767 1.07 57.1N/AN/AN/A
Tata Large Cap Fund 533,136 1.1 30.42N/AN/AN/A
Aditya Birla Sun Life Dividend Yield Fund 250,000 0.94 14.27N/AN/AN/A
Edelweiss Aggressive Hybrid Fund 167,977 0.28 9.58335,0002026-02-23 00:33:13-49.86%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 20.6916.7321.0516.6622.05
Diluted EPS (Rs.) 20.6816.7221.0016.6021.95
Cash EPS (Rs.) 29.9825.2828.9723.0428.30
Book Value[Excl.RevalReserv]/Share (Rs.) 153.19133.08117.13104.3287.75
Book Value[Incl.RevalReserv]/Share (Rs.) 153.19133.08117.13104.3287.75
Revenue From Operations / Share (Rs.) 184.78185.93186.41151.81130.72
PBDIT / Share (Rs.) 39.5135.5038.3229.8335.62
PBIT / Share (Rs.) 30.2126.9430.7023.4429.50
PBT / Share (Rs.) 27.2222.5828.3922.5028.44
Net Profit / Share (Rs.) 20.6816.7221.3416.6422.18
NP After MI And SOA / Share (Rs.) 20.6816.7221.3416.6422.18
PBDIT Margin (%) 21.3719.0920.5519.6527.24
PBIT Margin (%) 16.3414.4916.4615.4322.56
PBT Margin (%) 14.7312.1415.2314.8221.75
Net Profit Margin (%) 11.198.9911.4410.9616.97
NP After MI And SOA Margin (%) 11.198.9911.4410.9616.97
Return on Networth / Equity (%) 13.4912.5618.2215.9525.28
Return on Capital Employeed (%) 17.2418.9924.0420.2428.76
Return On Assets (%) 8.027.3410.539.1414.79
Long Term Debt / Equity (X) 0.080.020.050.090.15
Total Debt / Equity (X) 0.340.370.370.420.38
Asset Turnover Ratio (%) 0.760.860.870.800.90
Current Ratio (X) 1.561.401.421.531.70
Quick Ratio (X) 0.880.770.780.921.04
Inventory Turnover Ratio (X) 3.391.802.672.723.34
Dividend Payout Ratio (NP) (%) 7.248.953.609.004.50
Dividend Payout Ratio (CP) (%) 5.005.922.656.503.53
Earning Retention Ratio (%) 92.7691.0596.4091.0095.50
Cash Earning Retention Ratio (%) 95.0094.0897.3593.5096.47
Interest Coverage Ratio (X) 9.288.1316.5831.8733.56
Interest Coverage Ratio (Post Tax) (X) 5.564.8310.2418.7821.90
Enterprise Value (Cr.) 12503.5311257.547783.158280.288079.39
EV / Net Operating Revenue (X) 2.792.501.732.202.50
EV / EBITDA (X) 13.0513.088.3911.199.16
MarketCap / Net Operating Revenue (X) 2.642.311.562.022.32
Retention Ratios (%) 92.7591.0496.3990.9995.49
Price / BV (X) 3.183.232.482.943.46
Price / Net Operating Revenue (X) 2.642.311.562.022.32
EarningsYield 0.040.030.070.050.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Granules India Ltd. is a Public Limited Listed company incorporated on 18/03/1991 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L24110TG1991PLC012471 and registration number is 012471. Currently Company is involved in the business activities of Manufacture of allopathic pharmaceutical preparations. Company's Total Operating Revenue is Rs. 3030.16 Cr. and Equity Capital is Rs. 24.25 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Pharmaceuticals15th Floor, Granules Tower, Botanical Garden Road, Hyderabad Telangana 500084Contact not found
Management
NamePosition Held
Dr. Krishna Prasad ChigurupatiChairman & Managing Director
Dr. K V S Ram RaoJoint Managing Director & CEO
Mr. Harsha ChigurupatiNon Ind.& Exe.Director
Mrs. Uma Devi ChigurupatiNon Ind.& Exe.Director
Mr. Kolli Basava Sankar RaoNon Exe.Non Ind.Director
Dr. Saumen ChakrabortyInd. Non-Executive Director
Mrs. Sucharita Rao PalepuInd. Non-Executive Director
Dr. Sethurathnam RaviInd. Non-Executive Director
Mr. Arun SawhneyInd. Non-Executive Director
Mr. Kapil Kumar MehanInd. Non-Executive Director
Mrs. Priyanka ChigurupatiNon Ind.& Exe.Director
Mr. Rajiv Pritidas KakodkarInd. Non-Executive Director

FAQ

What is the intrinsic value of Granules India Ltd and is it undervalued?

As of 12 April 2026, Granules India Ltd's intrinsic value is ₹329.41, which is 47.55% lower than the current market price of ₹628.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.9 %), book value (₹164), dividend yield (0.24 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Granules India Ltd?

Granules India Ltd is trading at ₹628.00 as of 12 April 2026, with a FY2026-2027 high of ₹640 and low of ₹412. The stock is currently near its 52-week high. Market cap stands at ₹15,242 Cr..

How does Granules India Ltd's P/E ratio compare to its industry?

Granules India Ltd has a P/E ratio of 28.0, which is below the industry average of 53.84. This is broadly in line with or below the industry average.

Is Granules India Ltd financially healthy?

Key indicators for Granules India Ltd: ROCE of 15.1 % indicates efficient capital utilization. Dividend yield is 0.24 %.

Is Granules India Ltd profitable and how is the profit trend?

Granules India Ltd reported a net profit of ₹502 Cr in Mar 2025 on revenue of ₹4,482 Cr. Compared to ₹413 Cr in Mar 2022, the net profit shows an improving trend.

Does Granules India Ltd pay dividends?

Granules India Ltd has a dividend yield of 0.24 % at the current price of ₹628.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Granules India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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