Granules is a bulk drug and formulation company. It strength lies in economically sized bulk drug manufacturing units which provide a cost advantage to its finished dosage offering. The focus is on molecules of mass consumption viz. Paracetamol, Ibuprofen, Guaifenesin and Metformin in which it has decent global market share. Over the next 2 years, the company will benefit from commissioning of expanded capacities particularly for oncology products. Steep fall in end product prices, US FDA inspection and high debt are key risks. We rate the stock as overweight due to strong growth prospects and reasonable valuations – 17-07-2020 Price: 263.80 Rating: Over Weight Recommendation: Buy
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