Buy Granules India ltd for the Target Rs.640 by Choice Broking Ltd
FD Set to Recover, Peptides to Strengthen Growth Outlook
In the Finished Dosages (FD) segment, the company has a robust product pipeline, including six launch-ready products in Europe and several large-volume prescription products in the US. Many of these represent first-to-file (FTF) opportunities, with CNS therapy leading the charge. We expect FD to sustain double-digit growth. In addition, the CDMO/Peptides segment, strengthened through the acquisition of Senn Chemicals, has begun contributing to revenue. This division will focus on high-value peptide therapies, supported by the commissioning of a dedicated R&D centre by October 2025 and a commercial-scale plant by the end of FY27. We anticipate strong growth in this segment, driven by the scale-up of GLP-1 and oncology products.
Outlook:
We maintain our positive stance on the company, supported by its ability to scale up operations following the expected Gagillapur clearance by Q3FY26 and the ramp-up of its Genome Valley facility. These developments should ease additional remediation and scale-up cost, driving margin expansion from FY27E. Furthermore, the CDMO/Peptides segment via Senn Chemicals is expected to contribute meaningfully to growth
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SEBI Registration no.: INZ 000160131
