# Granules share price today (Granules India Ltd, NSE: GRANULES)

> Granules share price today: ₹797.60 at the NSE close on 3 November 2026, up 41.0% in a year. Granules India (NSE: GRANULES) is worth ₹21,751 crore, trades at a P/E of 33.4 and has closed between ₹544.20 and ₹909.30 over the past 52 weeks. > Granules India Ltd's results are improving, and its P/E is near the top of its own history, higher than 98% of past readings. GRANULES · Pharma - API & CRAMS · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/granules-india-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹797.60 (+41.0% in a year)
- P/E: 33.4× (higher than 98% of the last 11 years)
- Revenue (Jun 2026): ₹1,477 Cr (+22.1% on a year ago)
- Profit (Jun 2026): ₹180 Cr (+59.3% on a year ago)
- Operating margin: 23.0% (+3.0 points on a year ago)
- ROCE: 16%, FY26
- ROIC: 13.0%, against a 12.0% cost of capital: +1.0 points

The main question: results are strong, and the P/E is higher than 98% of its own history. ## What is the Granules share price today? Granules India Ltd's share price was ₹797.60 at the close on 3 November 2026. It has been rising for 55 weeks. That is 5.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹544 and ₹909, and at that close it sat 69% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 4 weeks in a row. Over the last 11 years the share price moved +650% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Granules this quarter? Three changes stood out: foreign funds (FIIs) raised their stake for 4 quarters in a row, indian funds and insurers (DIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 6 quarters in a row. 1. Foreign funds (FIIs) raised their stake for 4 quarters in a row From 13.6% to 20.3% of the company by the September 2026 quarter. 2. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 18.5% to 15.3% of the company by the September 2026 quarter. 3. Revenue up on a year earlier for 6 quarters in a row In the June 2026 quarter revenue was ₹1,477 crore, +22.1% on a year earlier. Why: Revenue rose because the company sold more controlled substance medicines, mainly ADHD drugs in the US, where it gained share and launched products. Next results: check whether new amphetamine and methylphenidate products start adding sales and whether the company gets more quota. From the earnings call on 29 Sep 2026. ## What are Granules' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Granules reported revenue of ₹1,477 crore, up 22.1% from ₹1,210 crore a year earlier, and a profit of ₹180 crore, up 59.3% from ₹113 crore. ### Granules results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,477 crore | ₹1,210 crore | +22.1% |
| Profit | ₹180 crore | ₹113 crore | +59.3% |
| Earnings per share | ₹7.26 | ₹4.64 | +56.5% |
| Operating margin | 23.0% | 20.0% | +3.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Granules' management discussed these results on a call held on 29 September 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Granules share price history? Granules closed at ₹797.60 on 3 November 2026, up 41.0% from ₹565.60 a year earlier (31 October 2025) and up 148.2% over five years. Its highest weekly close since February 2016 was ₹909.30 on 11 September 2026. ### Granules share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹794.75 | +0.4% |
| 1 month ago · 1 Oct 2026 | ₹821.75 | −2.9% |
| 6 months ago · 30 Apr 2026 | ₹699.70 | +14.0% |
| 1 year ago · 31 Oct 2025 | ₹565.60 | +41.0% |
| 3 years ago · 3 Nov 2023 | ₹351.85 | +126.7% |
| 5 years ago · 4 Nov 2021 | ₹321.40 | +148.2% |
| 10 years ago · 4 Nov 2016 | ₹111.90 | +612.8% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹106.30 | +650.3% |
| Highest weekly close since February 2016, also the 52-week high · 11 Sep 2026 | ₹909.30 | −12.3% |
| Lowest weekly close since February 2016 · 1 Jun 2018 | ₹76.60 | +941.3% |
| 52-week low (weekly close) · 21 Nov 2025 | ₹544.20 | +46.6% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (566 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on Granules? 3 Nov 2026: Granules closed at ₹797.60, up 0.4% on the week and down 2.9% on the month. 29 Sep 2026: Granules held its results call for April to June 2026. Management guided: Organic capital spending of about ₹2,000 crore over the next 3 to 4 years, weighted toward peptide CDMO, complex generics and oncology. ### Earlier

- 30 Jul 2026: ex-date for a dividend of ₹1.75 a share. - Results for April to June 2026: Revenue up 22.1% and profit up 59.3% on a year earlier. ## What dividend does Granules pay? Granules paid ₹1.75 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.22% at the ₹797.60 close on 3 November 2026. The last was a dividend of ₹1.75 a share, ex-date 30 July 2026. ### Granules dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 30 Jul 2026 | ₹1.75 | Dividend | same day |
| 31 Jul 2025 | ₹1.50 | Dividend | same day |
| 30 Jul 2024 | ₹1.50 | Dividend | n/a |
| 3 Aug 2023 | ₹1.50 | Dividend | same day |
| 19 Jul 2022 | ₹0.75 | Dividend | n/a |
| 17 Feb 2022 | ₹0.25 | Interim | 18 Feb 2022 |
| 24 Nov 2021 | ₹0.25 | Interim | 25 Nov 2021 |
| 5 Aug 2021 | ₹0.25 | Interim | 6 Aug 2021 |
| 28 Jul 2021 | ₹0.75 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Granules India Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Granules management say on the latest results call? On the call for April to June 2026, held on 29 September 2026, Granules' management guided: Organic capital spending of about ₹2,000 crore over the next 3 to 4 years, weighted toward peptide CDMO, complex generics and oncology. > “Our objective over the next 3 to 4 years is straightforward: to translate these investments into a substantially larger business, with earnings growing faster as our portfolio becomes more differentiated and operating leverage develops.”
> CMD, on the call for April to June 2026

### What management guided

- Peptide CDMO to become profitable in FY27. - Peptide CDMO annual revenue run rate of approximately $50 million in 3 years and at least $100 million in 5 years. - R&D plan: 10-15 US submissions annually; 2 sole FTF ANDAs address more than $350 million, with potential 180-day exclusivity, and 4-5 further FTFs commercialize between FY30 and FY34. - First US specialty and institutional product expected in FY29, with Canada B2C launching next year and meaningful Latin America and other international presence by FY30. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4458-29-Sep-2026.pdf). (From the call for April to June 2026, 29 September 2026.)

## What to watch in Granules' next results? When Granules reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Gagillapur FDA reinspection - check whether the expected inspection occurs and the site status advances. - What to check (from the call)
- Gagillapur FDA reinspection - check whether the expected inspection occurs and the site status advances. - Controlled-substance launches and quota conversion - check new amphetamine and methylphenidate products translating into sales and incremental quota. - Peptide CDMO earnings trajectory - check movement from current operating profit loss toward profitability and renewed development-account conversion. - KSM/API pricing mechanisms - check whether customer pass-through catches up with input-cost pressure. ## Which stock lists is Granules on? Granules is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Pharma stocks. - [Momentum stocks Market cap cr: 22387.34730574576](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 328](https://www.sectoralpha.in/small-cap-stocks-india)
- [Pharma stocks Market value (₹ crore): 22387.34730574576](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Granules profitable? Granules India Ltd earned ₹180 Cr of net profit in the Jun 2026 quarter, +59.3% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹595 Cr. Over 10 years profit has grown 17.1% a year on average. That is 12.2% of the quarter's revenue. The same quarter a year earlier earned ₹113 Cr. For the full year, FY26 profit was ₹595 Cr (+18.5% on the year before). Why profit moved: revenue changed +22.1% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +38.6% and revenue +25.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Granules make, and is it growing? Granules India Ltd reported ₹1,477 Cr of revenue in the Jun 2026 quarter, +22.1% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 14.7% a year on average. The last full year, FY26, came in at ₹5,366 Cr. The last four reported quarters add to ₹5,633 Cr. FY26 revenue was ₹5,366 Cr, +19.7% on the year before. Recent pace: the last four quarters grew +25.3% on average, against 14.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +24.8%, against +9.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +38.1%, against +16.0% a year (accelerating). ## How much of every ₹100 of sales does Granules keep? Granules India Ltd's operating margin was 23.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 15.0% and 26.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +2.6 percentage points on the year while gross margin changed +0.7 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Granules' profit turning into cash? Over the last 3 years, 140% of Granules India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹793 Cr of operating cash against ₹595 Cr of profit. After ₹1,090 Cr of spending on assets, free cash was −₹297 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 140% of profit came in as cash: the cash cycle got 106 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.1× depreciation over three years. The next section checks what that spending is building. ## Where does Granules' cash go? Granules India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 256 days in FY26, up from 150 days in FY21. It spent ₹2,239 Cr on assets over the last 3 years. Customers take 62 days to pay, and stock sits for 326 days on average. At FY26 sales of ₹5,366 Cr, each day of that cycle ties up about ₹14.7 Cr, so roughly ₹3,764 Cr is tied up in the business at any time. FY26: customers took 62 days to pay and stock sat for 326 days, about 10.7 months of sales sitting as stock, for a full cycle of 256 days, longer than FY21's 150. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 326 days. Customers pay about 62 days after that. Suppliers are paid at 131 days. Together that makes the 256-day cycle. Spending on assets: ₹2,239 Cr over the last 3 years, against ₹729 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹410 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Granules' P/E ratio, and how does it compare with its own history? Granules India Ltd's P/E is 33.4×, about the highest it has ever been. Its usual P/E (the middle reading) is 18.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹26.96. Why the multiple is where it is: over the past year earnings per share moved +16.1% while the price moved +41.0%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +19.9% a year; about +1.2% a year came from earnings growth and about +18.7 percentage points from the multiple (the market paying more); over 10 years the price moved +21.7% a year; about +13.8% a year came from earnings growth and about +7.9 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Granules business getting better or worse? Granules India Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE steady at 20.1%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does Granules earn on its capital? Granules India Ltd earned a ROCE of 16% in FY26. That is up from a low of 12% in FY18. Its return on capital used (ROIC) is 1.0 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 11.1% net margin and 0.70× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 11.1% net margin × 0.70× asset turnover × 1.51× leverage (assets divided by equity) ≈ 11.7% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 13.0% − 12.0% = +1.0 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Granules have too much debt? Granules India Ltd has total debt of ₹1,512 Cr against shareholder equity of ₹5,085 Cr as of Jun 2026, so its debt is 0.30× its equity, which is very little. Year by year, that ratio went from 0.43 in FY22 to 0.30 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Granules shareholding pattern? Foreign institutions raised their stake in Granules India Ltd by 4.4 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 20.3% of the company. Domestic institutions moved −4.2 points over the same period, to 15.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +4.4 points over 8 quarters, to 20.3%; Domestic institutions: −4.2 points over 8 quarters, to 15.3%; Promoters: −1.5 points over 8 quarters, to 37.4%. Why the owners changed: foreign institutions moved +4.4 points and domestic institutions −4.2 points over 8 quarters, while promoters moved −1.5 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Granules from balance-sheet trouble? For Granules India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Granules rank in its industry? 57.4 out of 100, rank 9 of 24 in Pharma - API & CRAMS, with 96% of the evidence available. Granules India Ltd scores 57.4 out of 100 against the 24 companies it is compared with in Pharma - API & CRAMS, ranking 9. Earnings are strong; relative strength in its sector is -5.2% and the one-year return is 48.5%. The four parts add up to the total exactly: 24.3 + 16.2 + 10.2 + 6.7 = 57.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Granules compared with? Granules ranks 9 of 24 Pharma - API & CRAMS companies on the 4-Factor Sector Score, with 57.4 out of 100. 1. [Neuland Laboratories Ltd](https://www.sectoralpha.in/stocks/neuland-laboratories-ltd) NEULANDLAB · leader · Most evidence points up · 96% evidence 76.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.3/35 · Revenue 78.3% · Profit 100% · Operating margin change 23 points · 88% evidence Capital efficiency 22.9/25 · ROCE 26.5% · Operating margin 35% · 100% evidence Valuation 14.1/20 · P/E 50.8× · PEG 1.04 · 100% evidence Relative strength 6.7/20 · Lead over its industry -7.8% · Lead over NIFTY 500 20.3% · 1 year 19.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 32.3 + 22.9 + 14.1 + 6.7 = 76 · What this means: Earnings are strong; relative strength in its sector is -7.8% and the one-year return is 19.6%. 2. [Acutaas Chemicals Ltd](https://www.sectoralpha.in/stocks/acutaas-chemicals-ltd) ACUTAAS · turning · Most evidence points up · 67% evidence 73.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.3/35 · Revenue 45.4% · Profit 95.5% · Operating margin change 9 points · 95% evidence Capital efficiency 20.3/25 · ROCE 31.6% · Operating margin 40% · 76% evidence Valuation 10.2/20 · P/E 74.6× · PEG n/a · 50% evidence Relative strength 12.1/20 · Lead over its industry n/a · Lead over NIFTY 500 59.6% · 1 year 131.7% · 25% evidence · 2 of 9 weeks ahead Exact sum: 31.3 + 20.3 + 10.2 + 12.1 = 73.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Laurus Labs Ltd](https://www.sectoralpha.in/stocks/laurus-labs-ltd) LAURUSLABS · leader · Most evidence points up · 93% evidence 71.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.9/35 · Revenue 23% · Profit 95.3% · Operating margin change 10 points · 100% evidence Capital efficiency 17.3/25 · ROCE 17.8% · Operating margin 34% · 100% evidence Valuation 5.8/20 · P/E 97× · PEG 2.98 · 65% evidence Relative strength 17.0/20 · Lead over its industry 42.3% · Lead over NIFTY 500 82.8% · 1 year 152.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.9 + 17.3 + 5.8 + 17 = 71 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Gland Pharma Ltd](https://www.sectoralpha.in/stocks/gland-pharma-ltd) GLAND · leader · Most evidence points up · 96% evidence 69.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 17.6% · Profit 46.4% · Operating margin change 3 points · 88% evidence Capital efficiency 16.0/25 · ROCE 15.1% · Operating margin 27% · 100% evidence Valuation 12.1/20 · P/E 44.6× · PEG 1.45 · 100% evidence Relative strength 16.8/20 · Lead over its industry 15.1% · Lead over NIFTY 500 49.3% · 1 year 60.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 25 + 16 + 12.1 + 16.8 = 69.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [IOL Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/iol-chemicals-pharmaceuticals-ltd) IOLCP · leader · Most evidence points up · 100% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 26.7% · Profit 75% · Operating margin change 4 points · 100% evidence Capital efficiency 12.8/25 · ROCE 11.3% · Operating margin 14% · 100% evidence Valuation 13.9/20 · P/E 24.6× · PEG 0.66 · 100% evidence Relative strength 13.9/20 · Lead over its industry 21.6% · Lead over NIFTY 500 53.8% · 1 year 92.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.1 + 12.8 + 13.9 + 13.9 = 69.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Shilpa Medicare Ltd](https://www.sectoralpha.in/stocks/shilpa-medicare-ltd) SHILPAMED · leader · Most evidence points up · 89% evidence 67.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.4/35 · Revenue 28% · Profit 100% · Operating margin change 1 points · 88% evidence Capital efficiency 10.8/25 · ROCE 10.9% · Operating margin 29% · 100% evidence Valuation 9.9/20 · P/E 65.7× · PEG 1.73 · 65% evidence Relative strength 19.9/20 · Lead over its industry 47.2% · Lead over NIFTY 500 84.2% · 1 year 170.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.4 + 10.8 + 9.9 + 19.9 = 67 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Morepen Laboratories Ltd](https://www.sectoralpha.in/stocks/morepen-laboratories-ltd) MOREPENLAB · leader · Evidence leans up · 85% evidence 62.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.8/35 · Revenue 30.1% · Profit 90.9% · Operating margin change 9 points · 100% evidence Capital efficiency 9.3/25 · ROCE 8.1% · Operating margin 16% · 100% evidence Valuation 8.5/20 · P/E 32.9× · PEG 2.14 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 94.5% · 1 year 139% · 25% evidence · 12 of 12 weeks ahead Exact sum: 31.8 + 9.3 + 8.5 + 12.5 = 62.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Divis Laboratories Ltd](https://www.sectoralpha.in/stocks/divis-laboratories-ltd) DIVISLAB · leader · Evidence leans up · 96% evidence 61.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 16.4% · Profit 26.8% · Operating margin change 11 points · 88% evidence Capital efficiency 18.6/25 · ROCE 22% · Operating margin 41% · 100% evidence Valuation 2.6/20 · P/E 87.1× · PEG 3.45 · 100% evidence Relative strength 15.5/20 · Lead over its industry 9.2% · Lead over NIFTY 500 43.1% · 1 year 45.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.7 + 18.6 + 2.6 + 15.5 = 61.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 9. Granules India Ltd this page GRANULES · turning · Evidence leans up · 96% evidence 57.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 24.8% · Profit 38.1% · Operating margin change 3 points · 88% evidence Capital efficiency 16.2/25 · ROCE 15.5% · Operating margin 23% · 100% evidence Valuation 10.2/20 · P/E 35.2× · PEG 1.29 · 100% evidence Relative strength 6.7/20 · Lead over its industry -5.2% · Lead over NIFTY 500 24.2% · 1 year 48.5% · 100% evidence · 7 of 12 weeks ahead Exact sum: 24.3 + 16.2 + 10.2 + 6.7 = 57.4 · What this means: Earnings are strong; relative strength in its sector is -5.2% and the one-year return is 48.5%. 10. [Sai Life Sciences Ltd](https://www.sectoralpha.in/stocks/sai-life-sciences-ltd) SAILIFE · leader · Evidence leans up · 89% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.7/35 · Revenue 17.6% · Profit 48% · Operating margin change 3 points · 88% evidence Capital efficiency 17.0/25 · ROCE 19.6% · Operating margin 27% · 100% evidence Valuation 4.8/20 · P/E 90× · PEG 3.63 · 65% evidence Relative strength 13.8/20 · Lead over its industry 9.9% · Lead over NIFTY 500 42.9% · 1 year 69.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.7 + 17 + 4.8 + 13.8 = 57.3 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 11. [SMS Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/sms-pharmaceuticals-ltd) SMSPHARMA · breaking out · Evidence leans up · 96% evidence 55.8 out of 100 Growth Capital Valuation Relative
12. [Blue Jet Healthcare Ltd](https://www.sectoralpha.in/stocks/blue-jet-healthcare-ltd) BLUEJET · quiet · Evidence leans up · 81% evidence 52.7 out of 100 Growth Capital Valuation Relative
13. [Solara Active Pharma Sciences Ltd](https://www.sectoralpha.in/stocks/solara-active-pharma-sciences-ltd) SOLARA · breaking out · Evidence leans down · 74% evidence 49.5 out of 100 Growth Capital Valuation Relative
14. [Windlas Biotech Ltd](https://www.sectoralpha.in/stocks/windlas-biotech-ltd) WINDLAS · leader · Evidence leans down · 81% evidence 47.6 out of 100 Growth Capital Valuation Relative
15. [Anthem Biosciences Ltd](https://www.sectoralpha.in/stocks/anthem-biosciences-ltd) ANTHEM · leader · Evidence leans down · 89% evidence 46.7 out of 100 Growth Capital Valuation Relative
16. [Piramal Pharma Ltd](https://www.sectoralpha.in/stocks/piramal-pharma-ltd) PPLPHARMA · leader · Evidence leans down · 71% evidence 44.6 out of 100 Growth Capital Valuation Relative
17. [Supriya Lifescience Ltd](https://www.sectoralpha.in/stocks/supriya-lifescience-ltd) SUPRIYA · breaking out · Evidence leans down · 96% evidence 43.7 out of 100 Growth Capital Valuation Relative
18. [Concord Biotech Ltd](https://www.sectoralpha.in/stocks/concord-biotech-ltd) CONCORDBIO · quiet · Evidence leans down · 85% evidence 40.8 out of 100 Growth Capital Valuation Relative
19. [Jubilant Pharmova Ltd](https://www.sectoralpha.in/stocks/jubilant-pharmova-ltd) JUBLPHARMA · turning · Most evidence points down · 86% evidence 30.3 out of 100 Growth Capital Valuation Relative
20. [Hikal Ltd](https://www.sectoralpha.in/stocks/hikal-ltd) HIKAL · turning · Most evidence points down · 78% evidence 29.7 out of 100 Growth Capital Valuation Relative
21. [OneSource Specialty Pharma Ltd](https://www.sectoralpha.in/stocks/onesource-specialty-pharma-ltd) ONESOURCE · turning · Most evidence points down · 83% evidence 29.2 out of 100 Growth Capital Valuation Relative
22. [Syngene International Ltd](https://www.sectoralpha.in/stocks/syngene-international-ltd) SYNGENE · turning · Most evidence points down · 100% evidence 27.8 out of 100 Growth Capital Valuation Relative
23. [Cohance Lifesciences Ltd](https://www.sectoralpha.in/stocks/cohance-lifesciences-ltd) COHANCE · breaking out · Most evidence points down · 78% evidence 27.1 out of 100 Growth Capital Valuation Relative
24. [Dishman Carbogen Amcis Ltd](https://www.sectoralpha.in/stocks/dishman-carbogen-amcis-ltd) DCAL · basing · Most evidence points down · 64% evidence 27.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Pharma - API & CRAMS](https://www.sectoralpha.in/sectors/pharma-api-crams), all 24 compared on one page. ## Which companies are close to Granules in size? Granules is the 9th largest of 24 Pharma - API & CRAMS companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Acutaas Chemicals, Piramal Pharma and Neuland Laboratories. Just below it: Shilpa Medicare, OneSource Specialty Pharma and Cohance Lifesciences. ### Pharma - API & CRAMS companies close in size

1. [Acutaas Chemicals Ltd](https://www.sectoralpha.in/stocks/acutaas-chemicals-ltd) ₹32,778 crore
2. [Piramal Pharma Ltd](https://www.sectoralpha.in/stocks/piramal-pharma-ltd) ₹31,807 crore
3. [Neuland Laboratories Ltd](https://www.sectoralpha.in/stocks/neuland-laboratories-ltd) ₹25,275 crore
4. Granules India Ltd ₹22,907 crore
5. [Shilpa Medicare Ltd](https://www.sectoralpha.in/stocks/shilpa-medicare-ltd) ₹18,690 crore
6. [OneSource Specialty Pharma Ltd](https://www.sectoralpha.in/stocks/onesource-specialty-pharma-ltd) ₹17,924 crore
7. [Cohance Lifesciences Ltd](https://www.sectoralpha.in/stocks/cohance-lifesciences-ltd) ₹16,999 crore

[All 24 Pharma - API & CRAMS companies, largest first](https://www.sectoralpha.in/sectors/pharma-api-crams#all-companies)

### Companies close in size in other industries

1. [Gillette India Ltd](https://www.sectoralpha.in/stocks/gillette-india-ltd) ₹23,064 crore · FMCG - Personal Care
2. [TD Power Systems Ltd](https://www.sectoralpha.in/stocks/td-power-systems-ltd) ₹22,948 crore · Capital Goods - Gensets/Turbines
3. Granules India Ltd ₹22,907 crore
4. [Force Motors Ltd](https://www.sectoralpha.in/stocks/force-motors-ltd) ₹22,867 crore · Auto - Bus/LCVs
5. [Kalpataru Projects International Ltd](https://www.sectoralpha.in/stocks/kalpataru-projects-international-ltd) ₹22,844 crore · Infra - Power - Generation/Distribution

## What else do people ask about Granules? ### What is Granules's share price today? Granules India Ltd's share price is ₹797.60, +41.0% over the past year. The whole company is worth ₹21,751 Cr on the market. In the last 52 weeks it traded between ₹544 to ₹909; today it is 69% of the way up from the low, 5.4% above its 200-day average (as of 3 November 2026). ### What were Granules's latest quarterly results? Granules India Ltd reported revenue of ₹1,477 Cr and net profit of ₹180 Cr for the Jun 2026 quarter. Revenue rose 22.1% and profit rose 59.3% compared with a year earlier. Earnings per share were ₹7.26. The operating margin was 23.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Granules's market cap? Granules India Ltd's market capitalisation is ₹21,751 Cr at a share price of ₹797.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Granules performing? Granules India Ltd's share price has been rising for 55 weeks. In its latest quarter, revenue rose 22.1% and profit rose 59.3% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 4 weeks running (as of 3 November 2026). ### Will Granules's share price go up? This page does not forecast Granules India Ltd's share price. What it shows instead: the share price is ₹797.60, and it has been rising for 55 weeks. Its P/E of 33.4× is higher than 98% of its own last 11 years (as of 3 November 2026). ### Who owns Granules? Promoters own 37.4% of Granules India Ltd, foreign institutions 20.3%, domestic institutions 15.3% and the public 27.0% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 4.4 percentage points over 8 quarters (as of 3 November 2026). ### Where is Granules in its business cycle? Granules India Ltd's FY26 operating margin was 22.0%, against a 13-year range of 15.0% to 26.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 23.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Granules story? The main question: results are strong, and the P/E is higher than 98% of its own history. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Granules a stock worth studying right now? What the numbers show: Granules India Ltd's results are improving, and its P/E is near the top of its own history, higher than 98% of past readings. The main open question: whether earnings grow enough to match the multiple. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Granules share price forecast for 2026? What management itself guided: Organic capital spending of about ₹2,000 crore over the next 3 to 4 years, weighted toward peptide CDMO, complex generics and oncology. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

This is research, not advice. We’re not SEBI-registered.