Granules India Ltd.

Financial

	Granules India	Solara Active Pharma	IOL Chem & Pharma
Operational Metrics
API Sector
US DMF Filings	37.0 .	230.0 .	n/a
Europe DMF Filings	5.0 .	n/a	n/a
Manufacturing Capacity - Metformin	2000.0 MTPA	n/a	11200.0 MTPA
Manufacturing Capacity - Ibuprofen	4800.0 MTPA	5000.0 MTPA	12000.0 MTPA
Total reactor capacity	456.5 kL	n/a	n/a
Pharmaceutical Sector
Manufacturing Capacity - Paracetamol	34560.0 MTPA	n/a	3600.0 MTPA
Number of ANDA's Approved By USFDA	64.0 .	n/a	n/a
Number of ANDA's Filed in USA	77.0 .	n/a	n/a
Number of ANDA's Filed	105.0 .	n/a	n/a
Number of ANDA's Approved	85.0 .	n/a	n/a
R&D as a % of Total Sales	1.17 %	n/a	0.97 %
Financials
5 yr Average ROE	18.62 %	5.09 %	18.85 %
5yr average Equity Multiplier	1.78	1.89	1.4
5yr Average Asset Turnover Ratio	0.84	0.58	1.09
5yr Avg Net Profit Margin	12.53 %	4.11 %	12.19 %
Price to Book	3.69	3.01	1.56
P/E	29.36	0.0	18.66
5yr Avg Cash Conversion Cycle	49.48 Days	138.45 Days	55.45 Days
Inventory Days	66.04 Days	90.89 Days	57.94 Days
Days Receivable	75.78 Days	129.77 Days	80.26 Days
Days Payable	105.66 Days	142.99 Days	83.28 Days
5yr Average Interest Coverage Ratio	19.25	1.64	46.53
5yr Avg ROCE	21.19 %	8.8 %	24.63 %
5yr Avg Operating Profit Margin	21.42 %	16.58 %	18.65 %
5 yr average Debt to Equity	0.46	0.59	0.03
5yr CAGR Net Profit	16.92 %	n/a	-20.73 %
5yr Average Return on Assets	10.57 %	2.82 %	13.46 %
Shareholdings
Promoter Holding	41.96 %	30.49 %	48.19 %
Share Pledged by Promoters	4.03 %	47.99 %	0.0
Change in Promoter Holding (3 Yrs)	-0.08 %	-13.62 %	4.5 %
Change in Mutual Fund Holding (3 Yrs)	5.8 %	-1.9 %	0.04 %

Business

	Granules India	Solara Active Pharma	IOL Chem & Pharma
Product Wise Break-Up	Product Wise Break-Up Paracetamol 46.0 Metformin 22.0 Ibuprofen 10.0 GGF 4.0 MCB 3.0 Ibuprofen 0 Active Pharmaceutical Ingredients (API) 0 API 0 Chemicals 0 Ethyl Acetate 0 Pantaprazole 0 Clopidogrel 0 Metformin 0 Others 15.0	Product Wise Break-Up Ibuprofen 0 Ethyl Acetate 0 API 0 Metformin 0 GGF 0 MCB 0 Active Pharmaceutical Ingredient (API) 100.0 Clopidogrel 0 Pantaprazole 0 Chemicals 0 Paracetamol 0	Product Wise Break-Up Ibuprofen 39.0 Ethyl Acetate 0 API 20.0 Metformin 0 GGF 0 MCB 0 Active Pharmaceutical Ingredients (API) 0 Clopidogrel 0 Pantaprazole 0 Chemicals 41.0 Paracetamol 0
Segment Break-Up	Segment Break-Up Formulations 64.0 Active Pharmaceutical Ingredient (API) 22.0 PFI 14.0 0 Pharmaceuticals 0	-	Segment Break-Up Formulations 0 PFI 0 Pharmaceutical 58.76 Chemicals 41.24 Active Pharmaceutical Ingredient (API) 0
Location Wise Break-Up	Location Wise Break-Up USA 66.0 Europe 19.0 Rest of the World 5.0 Latin America 5.0 India 5.0 Canada 0 AMEA 0 South America 0 North America 0 Asia Pacific 0	Location Wise Break-Up Asia Pacific 58.6 Europe 22.85 AMEA 0 Canada 0 South America 2.58 India 0 USA 0 Latin America 0 North America 4.99 Rest of the World 0 Others 10.98	Location Wise Break-Up Asia Pacific 0 Europe 0 AMEA 0 Canada 0 South America 0 India 68.17 USA 0 Latin America 0 North America 0 Rest of the World 31.83