GRANULES Q1 FY27 Guidance vs Delivery (GRANULES Management Mirror)

Q1 FY27 EBITDA Margin at 22.9%, Reaffirming the 22%-23% Range Outlook

In Q1 FY27, Granules India reported an EBITDA of INR 3,389 million with a margin of 22.9%, up 256 bps YoY. Management reaffirmed the expectation for EBITDA margins to remain in the 22% to 23% range going forward, maintaining the structural profitability outlook. Going into the rest of the fiscal year, working capital is planned to be managed efficiently despite potential slight increases in receivable days as non-US and US growth scales, while sustained cost inflation in raw materials and freight will be mitigated through calibrated pricing actions and cost pass-through mechanisms with customers.