Granules eyes 25% growth in topline this fiscal

HYDERABAD: Pharmaceutical ingredients maker Granules India expects to post a growth of nearly 25% in revenues this fiscal thanks to fresh capacities that are available from Rs 115 crore expansion program.

While some fresh capacities from the expansion program were made available during June quarter, the company expects availability of full capacities during December quarter.

Chief financial officer VVS Murthy told ET, “We are expecting Rs 950 crore of turnover for FY14 compared to Rs 764 crore in the previous fiscal as we are going to utilize the full capacities from October onwards.”

Managing director Krishna Prasad described the June quarter results as harbinger to full year. During June quarter, the company reported 134% growth in consolidated net profit at Rs 15 crore, while revenues saw 21% growth at Rs 228 crore compared to corresponding quarter last year.

“The fiscal year, particularly the second half, will be exciting for us as we continue to shift our sales to formulations as our production ramps up,” said Krishna Prasad in a statement.