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	91.0 .	n/a	n/a
Number of ANDA's Filed in USA	102.0 .	n/a	n/a
Number of ANDA's Filed	99.0 .	n/a	n/a
Number of ANDA's Approved	83.0 .	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	3.47	1.31	1.45
P/E	26.06	0.0	13.43
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 Clopidogrel 0 Paracetamol 0 MCB 0 API 0 Metformin 0 Chemicals 0 Pantaprazole 0 Ibuprofen 0 Ethyl Acetate 0 Active Pharmaceutical Ingredient (API) 100.0 GGF 0	Product Wise Break-Up Clopidogrel 0 Paracetamol 0 MCB 0 API 21.0 Metformin 0 Chemicals 40.0 Pantaprazole 0 Ibuprofen 39.0 Ethyl Acetate 0 Active Pharmaceutical Ingredients (API) 0 GGF 0
Segment Break-Up	Segment Break-Up Formulations 66.0 Active Pharmaceutical Ingredient (API) 19.0 PFI 15.0 0 Pharmaceuticals 0	-	Segment Break-Up Pharmaceutical 55.19 Chemicals 44.81 Active Pharmaceutical Ingredient (API) 0 PFI 0 Formulations 0
Location Wise Break-Up	Location Wise Break-Up USA 63.0 Europe 20.0 India 6.0 Latin America 5.0 Canada 3.0 Rest of the World 3.0 AMEA 0 South America 0 North America 0 Asia Pacific 0	Location Wise Break-Up Europe 22.85 South America 2.58 Canada 0 Latin America 0 AMEA 0 USA 0 India 0 Asia Pacific 58.6 North America 4.99 Rest of the World 0 Others 10.98	Location Wise Break-Up Europe 0 South America 0 Canada 0 Latin America 0 AMEA 0 USA 0 India 69.06 Asia Pacific 0 North America 0 Rest of the World 30.94