Interim report
Page 1
Date: November 02, 2026 To, National Stock Exchange of India Limited & BSE Limited . Scrip Code: NSE- GRANULES; BSE-532482. Sub: Outcome of the Board meeting dated November 02, 2026. Ref: Regulations 30 & 33 of the Listing Regulations. Dear Sir/Mam, . GRANULES The Board of Directors of the Company, at their meeting, has inter alia approved the unaudited financial results (Standalone & Consolidated) for the second quarter and half year ended on September 30, 2026 prepared under Indian Accounting Standards (Ind-AS). Pursuant to regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we are enclosing the unaudited financial results (Standalone and Consolidated) of the Company for the second quarter and half year ended on September 30, 2026. We are also enclosing the Limited Review Report of the Statutory Auditors of the Company , as required under Regulation 33 of the Listing Regulations. The meeting of the Board of Directors of the Company commenced at 03.00 P.M and concluded at 04.40 P.M. We request you take the above information on record . Thanking You. For GRANULES INDIA LIMITED CHAITANYA TUMMALA (COMPANY SECRETARY & COMPLIANCE OFFICER) Encl: As above REGISTERED OFFICE Granules India Limited CIN : L24110TG1991PLC012471 15t h Floor, Granules Tower, Botanical Garden Road, Kondapur, Hyderabad - 500084, Telangana, India Contact Us: Tel: +9140 69043500 I Fax: +91-40-23115145 I mail@granulesindia .com www.granulesindia .com
Page 2
S.R. BATL/801 & ASSOCIATES LLP Chartered Accountants THE SKYVIEW 20 2nd Floor, Unit No: 201 & 202 Left Wing, Survey No. 83/1 Hyderabad - 500 032 India Tel: +91 40 6141 6000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of Granules India Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Granules India Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Granules India Limited (the "Company ") for the quarter and half year ended September 30, 2026 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial [nformation Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in [ndia, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 J per Navneet Rai Ka bra Partner Membership No.: 102328 UDIN: 2-6 IO 2-32-6" V ~ /n/Y) ~~ Place: Hyderabad Date: November 2, 2026 S.R. Batliboi & Associ~tes LLP, a Limited Liabilit y Partnership with LLP Identit y No. AAB-4295 Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016
Page 3
I GRANULES GRANULES INDIA LIMITED Regd Office : 15th Floor, Granules Tower, Botanica l Garden Road Kondapur, Hyderabad 500 084 CIN:L24 1 I 0TGl991 PLC0l2471 Rs in millions Statement of Un-Audited Standa lone Financ ial Results for the auarter and half year ended Seot ember 30, 2026 Quarter ended Half year ended Year ended SI No. Particulars 30-Seo-26 30-Jun-26 30-Seo-25 30-Seo-26 30-Seo -25 31-Mar-26 Un-Audited Un-Audited Un-Audited Un-A udited Un-A udited Aud ited Income 1 Revenue from operations (a) Sale of products 9,187.09 7,788.83 8,774.09 16,975.92 16,746.21 33,918.51 (b) Other ooerating revenue 291.12 229.94 142.04 521.06 272.00 82 1.0Q Total reven ue from operat ions 9,478.21 8,0 18.77 8,916.1 3 17,496 .98 17,018.21 34,739.6 0 2 Other income 209 .11 137.84 78.85 346 .95 210.37 498.03 3 Tota l income (1+2 ) 9,687.32 8,156 .61 8,994 .98 17,843.93 17,228.58 35,237.6 3 4 Expenses (a) Cost of materials consumed 4,674 .33 3,771.24 3,5 I 1.07 8,445.57 7,214 .75 I 5,052.72 (b) Changes in inventories of work in progress and finished goods (422.86) (233.65) 217.28 (656.51) 79.25 76.81 (c) Emolovee benefits expense 1,205.21 1,13 1.76 1,043.47 2,336.97 2, I 02.29 4,231.30 (d) Finance costs 77.96 96.14 166.53 174.10 303.26 614.38 (e) Depreciation and amortisation expense 413.68 390.61 407.41 804.29 802.48 1,644.73 (f) Other expenses 2,278.47 2,034.87 2,030. I 6 4,313.34 4,07 1.42 8,137.95 Total expe nses 8,226.79 7,190.97 7,375.92 15,417.76 14,573.45 29,757.89 5 Profit before exceptional items and tax (3-4) 1,460.53 965.64 1,619. 06 2,426.17 2,655 .13 5,479.74 6 Exceptional items (refer note 5) (12 1.60) (121.60) 7 Profit before tax (5+6) 1,460.53 965.64 1,619.06 2,426 .1 7 2,533.53 5,358.14 8 Tax expe nse (a) Current tax 401.72 265.60 431.18 667.32 661. 10 1,351.55 (b) Deferred tax (26 35) (17.42) (18 25) (43.77) (28.55) (008) Tota l tnx expense 375 .37 248.18 412.93 623.55 632 .55 1,351. 47 9 Profit for the period /year (7-8) 1,085.16 717.46 1,206.13 1,802.62 1,900.98 4,006 .67 IO Other comprehensive income (net of tax) (a) (i) items that will not be reclassified to orofit or loss - 21.24 (ii) income tax on (i) above - (5.35) (b) (i) items that w ill be reclassified to profit or loss 233.74 3 19.43 (123.06) 553. 17 (134.15) (497.54) (ii) income tax on (i) above (58.83) (80.39) 30.96 (139 22) 33 .75 125.23 Total oth er comprehensive income, net of tax 174.91 239.04 (92.10) 413.95 (100.40) (356.42) II Total comprehensive income (9+10) 1,260.07 956.50 1,114.03 2,216.57 1,800 .58 3,650.25 12 Paid-up equity share capital (Face value of Rs. I/- per share) 272.78 247.80 242.67 272.78 242.67 247.80 13 Other equity 43,743.36 14 Earnings oer share (Face value Rs. I/- each) (a) Basic (in Rs.) 4.3 1 2.90 4.97 7.21 7.84 16.48 (b) Diluted (in Rs.) 4.21 2.84 4.97 7.05 7.84 16.47 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Annua lised)
Page 4
Standa lone statement of Assets and Liabilities: Rs in millions SI. Asat As at No. Particulars September 30, 2026 March 31, 2026 Un-Aud ited Audited I ASSETS Non-current assets a) Property, plant and equipment 13,196.91 13,410.02 b) Capital work-in-progress 2,044.16 1,174.70 c) Other intangible assets 228. 10 263.80 d) Intangible assets under development 8.49 1.71 e) Right-of-use assets 809.89 854.37 f) Financial assets i) Investments 20,390.61 20,298 .22 ii) Other financial assets 167.14 171.15 g) Income tax assets (net) 92.10 9038 h) Other non-current assets 450.41 592.49 Tota l non-current assets 37,387.81 36,856.84 Current assets a) Inventories 7,731.80 6,262.13 b) Financial assets i) Trade receivables 11,322.00 12,470.22 ii) Cash and cash equiva lents 6,908.70 2,100.93 iii) Bank balances other than cash and cash equivalents above 5,572.22 660.51 iv) Other financial assets 16.34 65.09 c) Other current assets 1,678.83 1,397.07 Total current assets 33,229.89 22,955.95 TOTAL ASSETS 70,617.70 59,8 12.79 II EQUITY AND LIABILITIES Equity a) Equity share capital 272.78 247.80 b) Other equity 56,462.56 43,743.36 Total equity 56,735.34 43,991.16 Liabi lities Non-current liab ilities a) Financial liabilities i) Lease liabilities 879.88 881.73 b) Provisions 289.57 226.11 c) Deferred tax liabilities (net) 279.78 184.33 Total non-current liabil ities 1,449.23 1,292.17 C urre nt liab ilities a) Financial liabilities i) Borrow ings 3,817.34 7,336.80 ii) Lease liabilities 43.32 62.46 iii) Trade payables (a) Total outstanding dues of micro enterprises and small enterprises 108.20 107.06 (b) Tota l outstanding dues of creditors other than micro enterprises and small enterpr ises 6,586.46 4,801.60 iv) Other financia l liabilities 1,081.39 1,593.74 b) Other current liabilities 11 1.40 108.22 c) Provisions 520.67 487.08 d) Income tax liabilities (net) 164.35 32.50 Total current liab ilities 12,433.13 14,529.46 Total liab ilities 13,882.36 15,821.63 TOTAL EQUITY AND LIABILITIES 70,617.70 59,812.79
Page 5
Statement of standalone cash flows : Cash flow from operating activities Profit before tax Adjustments/or: Depreciation and amortisation expense Impainnent losses on financial instruments Allowance for doubtful advances and deposits Loss on sale/disposal of property, plant and equipment (net) Gain on tennination of leases Changes in fair value of cashflo w hedges Net loss/(gain) on foreign exchange fluctuations (unrealised) Finance costs Interest income Operating profit before working cap ital changes Moveme11ts i11 working capital: Decrease in trade receivables (Increase) /decrease in inventories (lncrease) /decrease in other assets lncrease /(decrease) in trade payables, other liabilities and provisions Cash generated from operations Direct taxes paid (net of refunds) Net cash generated from operating activities Cash flow used in investing activities Purchase of property , plant and equipment , intangible assets including capital work-in-progress , intangible assets under development , capital advances and payables for capital goods Proceeds from sale of property, plant and equipment Movement in other bank balances Investment in subsidiaries Investment in equity shares Interest received Net cash used in investing activities Cash flow from financing activities Proceeds from issuance of equity shares and Share Warrants Repayment of non-current borrowings Proceeds / (repayment) of current borrowings (net) Repayment of lease liabilities (including related interest) Finance cost paid Dividend paid on equity shares Net cash generated from financing activities Net increase in cash and cash equivalents Effect of exchange differences on translation of foreign currency cash and cash equivalents Cash and cash equivalents at the beginning of the period/ year Cash and cash e uivalents at the end of the er iod/ ear (A) (B) (C) (A+B+C) Note : The above Statement of Cash flows has been re ared under the 'Indirect Method' as set out in Ind AS 7, 'Statement of Cash Flows' Notes: For the half year ended September 30, 2026 Un-Audited 2,426.17 804.29 40.00 9.95 177.53 174.10 (29.39) 3,602.65 684.35 (1 ,469.67) (235.51) 1,620.47 4,202.29 (537.19) 3,665.10 (930. 76) 4.64 (4,898.90) (50.00) (42.39) 23.28 (5,894.13) I 0,961.25 (3,268.65) (62.90) (132.11 ) (433.65) 7,063.94 4,834.91 (27. 14) 2, I 00.93 6,908.70 Rs in millions For the half year ended For the year ended September 30, 2025 March 31, 2026 Un-Audited Audited 2,533.53 5,358.14 802.48 1,644.73 (0.04) 8.09 4.00 16.25 8.20 0.84 (1.31) 115.21 115.21 50.40 (98.05) 303.26 614.38 (5.34) (27.58) 3,811.70 7,630.70 1,139.48 1,021.36 192.92 222.72 43.46 266.88 44.47 (1 , 188.78) 5,232.03 7,952.88 (559 34) (1 ,51969) 4,672.69 6,433.19 (1 ,463.20) (2,520.56) 87.71 125.77 101.20 (481.75) (2,650.00) (7,482.92) 6.45 27.66 (3,917.84) (10,331.80) 18.53 6,674.78 (557.86) (557.86) 1,381.81 (649.46) (58.80) (12154) (255.37) (538.66) (363.97) (363.97) 164.35 4,443.29 919.20 544.68 8.45 32.85 1,523.40 1,523.40 2,451.05 2,100.93 I The above un-audited Standalo ne financial results of Granules India Limited ("the Company") for t~e quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 02, 2026. 2 The un-audited Standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder ("Ind AS") and other accounting principles generally accepted in India and in tenns of Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements) Regu lations, 2015. 3 The Auditors of the Company have carried out Limited Review of the Standalone fi nancia l results for the quarter and half year ended September 30, 2026 . 4 The Company operates in one reportable business segment of Phannaceutica l products including ingredients and intennediaries. 5 Exceptional item for the half year ended September 30, 2025 and year ended March 31 , 2026, is transaction costs incurred in relation to the acquisition of Senn Chemicals AG amounting to Rs. 121.60 million . 6 The Gagi llapur facility received a USFDA (US Food and Drug Administration) warning letter in February 2025 following an inspection conducted during August-September 2024. Subsequently in October 2026 USFDA inspected and concluded with issuance ofa Form FDA 483. None of the observat ions in Fonn FDA 483 relate to data integrity or cross-contamination. The Company is in the process of responding to the USFDA within the stipulated time lines and believes there is no impact on manufacturing or distribution from the facility. 7 During the previous year, the Company issued 25,000,000 warrants , each convertible into fully paid-up Equity Shares of the Compan y, on preferential basis to the Promoter group and Non-Promoter investor category of the Company , at an issue price ofRs.585 /- per Warrants and the Company received an aggregate consideration of Rs. 3,656.25 million towards minimum 25% of the total consideration of the Warrants. Each Warrant will be convertible into One Equity Share of the Company and the rights attached to Warrants can be exercised in one or more tranches at any time within a period of 18 months from the date o allotment of Warrants. During the quarter and half-year ended September 30, 2026, the holders of 24,982,906 warrants exercised the right to convert such warrants into equity shares and paid the balance subscription amount o Rs. 10,961.25 million. Consequently , the Company allotted 24,982,906 equity shares of the Company with a face value of Rs. 1/- each, at a premium of Rs. 584/- per share, on conversion of these warrants . 8 The Company incorporated two wholly owned subsidiaries, namely "TRITON F AR.MACEUTICA DO BRASIL L TOA" in Brazil on September 30, 2026 and "TRJTON F AR.MACEUTICA, S.A. de C.V" in Mexico on October 22, 2026. Place: Hyderabad Date: November 02, 2026 hairman and Managing Director DIN: 00020180
Page 6
S.R. BATL/80/ & ASSOCIATES LLP THE SKYVIEW 20 2nd Floor, Unit No: 201 & 202 Left Wing, Survey No. 83/1 Hyderabad - 500 032 India Chartered Accountants Tel: +91 40 6141 6000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of Granules India Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Granules India Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Granules India Limited and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter and half year ended September 30, 2026 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations . The Statement has been approved by the Holding Company's Board of Directors. Our responsibil ity is to express a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review oflnterim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries , primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. S.R. Batlibo i & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office: 22. Camac Street, Block '8'. 3rd Floor, Kolkala-700 016
Page 7
S.R. BATl.1801 & ASSOCIATES~ LLP Chartered Accountants 4. The Statement includes the results of the following entities: Holding Company Granules India Limited Subsidiaries: Granules Pharmaceuticals Inc. Granules Consumer Health LLC Granules Life Sciences Private Limited Granules CZRO Private Limited Senn Tides India Private Limited (formerly known as Ascelis Peptides Private Limited and prior to that, Granules Peptides Private Limited) Senn Chemicals AG (w.e.f. April 10, 2025) Granules Pharmaceuticals GMBH (formerly known as Optus 1039 GmbH, Gennany) (w.e.f November 20, 2025) Granules Pharmaceuticals Canada, Inc. (w.e.f November 26, 2025) Triton Farmaceutica Do Brasil LTDA (w.e.f September 30, 2026) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of 2 subsidiaries, whose interim financial results and other financial information reflect total revenues of Rs. Nil, total net loss after tax of Rs. 0.04 Mn and total comprehensive loss of Rs. 0.02 Mn for the quarter and half year ended September 30, 2026. The unaudited interim financial results and other unaudited financial information of these subsidiaries have not been audited/reviewed by any auditor and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.
Page 8
S.R. BATI.IBOl&ASSOCIATES-LLP Chartered Accountants Our conclusion on the Statement in respect of matters stated in para 6 is not modified with respect to the financial results/ financial information certified by the Management. For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 ~ cJ- ~\ ---- 1 per Navneet Rai Kabra Partner Membership No.: 102328 UDIN: 26/ tJ 1.~2-ff'SK/JJ/l...lw'/7 Place: Hyderabad Date: November 2, 2026
Page 9
~GRANULES GRANULES INDIA LIMITED Regd Office : 15th Floor, Granules Tower, Botanical Garden Road Kondapur, Hyderabad 500 084 CIN:L241 IOTG1991PLC012471 Rs in millions Statement of Un-Audited Consolidated Financial Results for the ouar1er and half vear ended September 30, 2026 SI oua 11er ended Half year ended Year ended Particulars 30-Seo-26 30-Jun-26 30-Seo -25 30-Seo -26 30-Se o-25 31-Mar-26 No. Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited Income I Revenue from ooerations (a) Sale of oroducts 15.382.28 14.649.73 12.946.74 30.032.0 1 25,034.66 53.389. 17 (b) Other ooeratine revenue 217.46 118.0 1 23. 14 335.47 36.28 267.25 Total revenue from ooerations 15,599.74 14,767.74 12.969.88 30,367.48 25,070.94 53,656 .42 2 Other income 106.85 22.67 (11.49) 129.52 151.96 203.29 3 Total income (1+2) 15,706.59 14,790.41 12,958.39 30,497 .00 25,222.90 53,859.7 1 4 Exnenses (a) Cost of materia1s consumed 6.131.52 4.958.41 4.977.99 I 1.089.93 9.263. 12 20,997.82 (b) Changes in inventories of work in nrogress and finished _goods (570.56) 119.75 (528.40) (450.81) (562.88) (2.240.82) l(c) Emolovee benefits expense 2.581.35 2.545.66 2.192.01 5.127 .0 1 4.219.54 8.883.59 I (d) Finance costs 209.74 2 11.22 291.93 420.96 529.70 1.143.54 (e) Depreciation and amortisation expense 838.65 796.49 720.21 1.635.14 1.408.68 2.96 1.42 Im Other exoenses 4.081.66 3.754.84 3.546.00 7.836.50 6.901.73 14.164.39 Total exoenses 13,272.36 12,386.37 11,199.74 25 658.73 21 759.89 45,909.94 5 Profit before exceotional item and tax (3-4) 2,434.23 2,404.04 1,758.65 4,838.27 3,463.0 1 7.949.77 6 Exceotional items (net) (refer note 5) (259. 11) (99.96) 7 Profit before tax (5+6) 2,434 .23 2 404.04 1,758.65 4,838.27 3,203.90 7,849.81 8 Tax exoense I (a) Current tax 6 13.44 645.80 508.37 1.259.24 889.61 1.961.48 (b) Deferred tax 2.42 (41.39) (55 78) (38.97) (118.13 (61.88) Total tax exnense 615 .86 604.41 452.59 1,220.27 771.48 1,899.60 9 Profi t for the oeriod/vear <7-8) 1,818.37 1,799.63 1.306.06 3,618.00 2,432.42 5,950.21 IO Other comnrehensive income <net of taxl (a) (i) items that will not be reclassified to profit or loss 103.14 (ii) income tax on (i) above (20.951 (b) (i) items that will be reclassil'ied to profit or loss 428.50 381.00 363.69 809.50 55 1.18 1.225.72 (ii) income tax on (i) above (58.83) (80.39 30.97 (139.22) 33.76 125.23 Total other comprehensive income net of tax 369.67 300.61 394.66 670.28 584.94 1,433.14 I I Total comorehensive income (9+ 10) 2,188,04 2,100.24 1,700.72 4,288.28 3,017.36 7,383.35 12 Paid-uo eauity share caoital (Face value of Rs. I/- oer share) 272.78 247.80 242.67 272.78 242.67 247.80 13 Other eauity 50.602. 15 14 Eamin2s oer share (Face value Rs. 1/- each) (a) Basic (in Rs.) 7.22 7.26 5.38 14.48 10.03 24.47 bl Diluted /in Rs.) 7.03 7.12 5.38 14. 15 10 03 24.46 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Annualised)
Page 10
Consolidated Statement of Assets and Liabilities : Rs in millions Asat Asat SI.No . Particulars Seotem her 30, 2026 March 31, 2026 Un-Aud ited Aud ited I ASSETS Non-current assets a) Property, plant and equipment 29,182.03 28,603.26 b) Capital work-in-progress • 4,338.64 4,064.90 c) Goodwill 135.53 116.55 d) O1her intangible assets 1,672.66 1,870.50 e) Intangible assets under developmen t 206.77 30.50 f) Right-of-use assets 4,852.22 1,9 10.89 g) Financial assets i) Investments 60.10 8.38 ii) Other financial assets 241.40 2 19.34 h) Deferred tax assets (net) 520.55 638.49 i) Income tax assets (net) 230.93 351.38 j) Other non-current assets 1.753.51 1.708.85 Total non-cun-ent assets 43,194,34 39,523,04 Current assets a) Inventories 18,609.75 16,730.25 b) Financial assets i) Trade receivables 9,463.54 9,093.66 ii) Cash and cash equivalents 9,448.70 8,802.38 iii Bank balances other than cash and cash equi val en ts above 5,577.37 688.2 1 iv) Other financial assets 44.69 44.75 c) Other current assets 2.378.22 2,317.2 1 Total current assets 45,522.27 37,676.46 TOTAL ASSETS 88,716,61 77,199,50 II EQUITY AND LIABILITIES Equity a) Equity share capital 272.78 247.80 b) Other equity 65.393.06 50.602.15 Tota l equity 65,665.84 50,849.95 Liabi lities Non-cun-ent liabilit ies a) Financial liabilities i) Borrowings 2,971.51 ii) Lease liabilities 4,674.14 1,609.50 b) Provisions 541.84 477.85 c) Deferred tax liabilities (net) 35503 370.38 Total non-cun-ent liabilities 5,571.01 5,429.24 Cur'l-ent liabilities a) Financial liabilities i) Borrowings 6,187.78 10,409.82 ii) Lease liabilit ies 144.17 129.58 iii) Trade payables (a) Total outstanding dues of micro enterprises and small enterprises 114.14 125.70 (b) Total outs tanding dues of creditors other than micro enterprises and small enterp rises 8,025.69 6,602.34 iv) Other fi nancial liabilities 1,816.42 2,658.60 b) Other current liabilities 445.10 416.14 c) Provisions 582. 10 545.63 d) Income tax liabilities (net) 164.36 32.50 Total cun-ent liabilities 17,479.76 20,920.31 Tota l liabilities 23,050.77 26,349.55 TOTAL EOUITY AND LIABILITIES 88,716.61 77,199.50
Page 11
Statement of Consolidated cash nows : Cash now from operating activities Profit before tax Atljushmmt sfor Depreciation and amortisation expense Bad debts writ1en off Impairment losses on financial instruments Allowance for doubtful advances and deposits Loss on sale/d isposal or property, plant and equipmen t (net) Changes in fair value or cash flow hedges Gain from sale or investments Gain on termination orieases Net loss/(gain) on foreign exchange nuctuations (unrealised) Finance costs Interest income Operating profit before working capital changes Mm,emeuts iu worki111: capit al: (Increase)/ decrease in trade receivables lncrease in inventories (Increase)/ decrease in other assets Increase/ (decrease) in trade payables, other liabilities and provisions Cas h generated from operations Direct taxes paid (net or refunds) Net cash generated from operating activi ties Cash flow used in investing activities Purchase of property, plant and equipm ent, intangible assets including capital work-in progress, intangible assets under development , capital advances and payables for capital goods Proceeds from sale/disposal of property , plant and equipment Proceeds from sale or investments lnvestment in equity shares Payments towards business combination Payments towards acquisition or subsidiary Settlement or pre-existing debt obligation in business combina tion Movement in other bank ba1ances lnterest received Net cash used in investing activities Cash now from financin g activities Proceeds from issuance of equity shares and Share Warrants Proceeds from non-current borrowings Repayment or non-current borrowings Proceeds/ (repayment) of current borro,,~ngs (net) Repayment orl ease liabilities (includin g related interest) Finance cost paid Dividend paid on equity shares Net cash generated from financing activities Net increa se in cash and cash equivalents Effect or exchange differences on translation or foreign currency cash and cash equi valents Cash and cash equivalents pursuant to business combination Cash and cash equiva1ents at the beginning of the period/year Cash and cash eouivalents at the end of the oeriod/vear I (A) (B) (C) (A+B+C) Note: The above Statement of cash nows has been oreoared under the 'Indirect Method' as set out in Ind AS 7. 'Statement of Cash Flows' Notes: For the half year ended September 30, 2026 Un-Audited 4,838.27 1,635. 14 41.75 9.34 2 10.83 420.96 (44.84) 7,111.45 (832.29) (1 ,687. 17) (I 12.71) 1.046.31 5,525.59 (1.001.16) 4,524.43 (2,196.43) 2.35 (5 1. 72) (4,879.69) 57.60 (7,067.89) I 0,961.25 (3,127.91) (3,757.05) (I 16.27) (342.02) (433.65 3,184.35 640.89 5.43 8.802.38 9,448.70 Rs in millions For the half yea r ended For the year ended September 30, 2025 March 31, 2026 Un-Audited Audited 3,203.90 7,849.81 1,408.68 2,961.42 37.06 28.46 48.99 4.00 16.25 9.43 30.62 115.21 11 5.21 (104.24) (263.40) (1.3 1) (42.73) (I 16.70) 529.70 1,143.54 (19.41) (70.44) 5,133 .00 11,751.05 1,812.50 1,445.98 (91 1.10) (1 ,393.53) 17.28 187.92 1419 05) 11.656.92) 5,632.63 10,334.50 (889.84) 12.402.00) 4,742.79 7,932.50 (3,253.04) (5,582. 10) 3.60 35.23 316.99 316.99 (1,980.30) (1 ,980.30) (2.92) (1 ,286.24) (1 ,286.24) 1,192.06 711.68 15.94 55.55 (4,990.99) (7,732.1 t) 18.53 6,674.78 6.47 (557.86) (557.86) 3,169.4 1 (550.7 1) (124.65) (2 12.00) (552.52) (1 ,203.84) (363.97 (363.97) 1,588.94 3,792.87 1,340.74 3,993.26 63.04 123.93 2 1.1 3 24.05 4.66 1.14 4.661. 14 6,086.05 8,802.38 I The above un-audited Consolidated financial results of Granules India Limited ("the Company") and its subsid iaries (together referred to as "the Group") for the quarter and half year ended September 30, 2026 have been re,1iewed by the Audit Committee and approved by the Board or Directors at their meeting held on Novembe r 02, 2026. 2 The un-audited Consolidated financial results of the Group have been prepared in accordance with the Indian Account ing Standards prescribed under section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder ("Ind AS") and other acco unting principles generally accepted in India and in tenns or Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 15. 3 The Auditors of the Company have carried out Limited Re,•iew of the Consolidated financial results for the quarter and half year ended Septembe r 30, 2026. 4 The Group operates in one reportable business segment of Phannaceutical products including ingredients and intermediaries. 5 i) Exceptional items (net) for the half year ended September 30, 2025 and year ended March 3 I, 2026 comprise: (a) Transaction costs incurred in relation to the acquisition of Senn Chemicals AG amounting to Rs. 121.60 million; (b) Seltlement of certain litigations of Granules Phannaceuticals Inc. ("GPI"); and ii) The gain on disposal of US Pharma Ltd recognized during the previous year of Rs. 263.39 million comprised Rs. 104.25 million during the half year ended September 30, 2025 and Rs. 159.15 million in the quarter ended March 3 1, 2026. 6 The Gagillapur facility received a USFDA (US Food and Drug Administration) warning letter in February 2025 following an inspection conduc ted during August-September 2024. Subsequently in October 2026 USFDA inspected and concluded with issuance or a Fonn FDA 483. None of the obsen1ations in Fonn FDA 483 relate to data integrity or cross-contamination . The Group is in the process or responding to the USFDA within the stipulated timelines and believes there is no impact on manufacturing or distribution from the facility. 7 During the previous year, the Company issued 25,000,000 warrants, each convertible into fully paid-up Equity Shares of the Company, on preferential basis to the Promoter group and Non-Promoter investor category of the Company, at an issue price of Rs.585/- per Warrants and the Company received an aggregate consideration or Rs. 3,656.25 million towards minimum 25% or the total consideration of the Warrants. Each Warrant ,,111 be convertible into One Equity Share of the Company and the rights attached to Warrants can be exercised in one or more tranches at any time within a period or 18 months from the date of al lotment of Warrants. During the quarter and half-year ended September 30, 2026 , the holders or 24,982,906 warrants exercised the right to convert such warrants into equity shares and paid the baJance subscription amount or Rs. I 0,96 1.25 million . Consequently, the Company allotted 24,982,906 equ ity shares of the Company \\1th a face value or Rs. 1/- each, at a premium or Rs. 584/- per share, on conversion of these warrants. 8 The Company incorpora ted two wholly 0\\11ed subsidiaries, namely ''TRITON FARMACEUTICA DO BRAS LL LTDA" in Brazil on Septe mber 30, 2026 and "TRITON FARMACEUTICA, S.A. de C.V" in Mexico on October 22, 2026. Place : Hyderabad Date : November 02, 2026