All monetary figures are in Rs million (mn). Granules India reported results for the fourth quarter and fiscal year ended 31 March 2026. Fourth quarter revenue from operations was Rs 14,706 mn, up 23 per cent year on year, with earnings before interest, tax, depreciation and amortisation of Rs 3,521 mn, up 40 per cent, and profit before tax before exceptional items at Rs 2,464 mn, up 48 per cent; net profit was Rs 2,016 mn, up 33 per cent.\n\nNorth America accounted for 72 per cent of fourth quarter revenue and Europe for 17 per cent. Finished dosages contributed 73 per cent, active pharmaceutical ingredients 13 per cent, pharmaceutical formulation intermediates 9 per cent and Peptides CDMO 5 per cent. Return on capital employed rose to 17.6 per cent in FY26 from 16.6 per cent, and net debt declined to Rs 4,021 mn, down Rs 3,040 mn year on year, leaving net debt to EBITDA at 0.34 times.\n\nOn a yearly basis, consolidated revenue was Rs 53,656 mn, up 20 per cent, with EBITDA of Rs 11,851 mn, up 25 per cent and an EBITDA margin of 22 per cent. Reported net profit for FY26 was Rs 5,950 mn, up 19 per cent year on year, and profit before tax before exceptional items was Rs 7,950 mn.\n\nThe chairman and managing director attributed the results to portfolio expansion, disciplined execution and progress on regulatory, compliance and sustainability initiatives, and noted improved earnings quality alongside advancement in complex generics and the Peptides CDMO platform. Granules India is a vertically integrated pharmaceutical company operating across active pharmaceutical ingredients, pharmaceutical formulation intermediates, finished dosages and Peptides CDMO, and serves more than 300 customers in over 80 countries. The group operates 10 manufacturing facilities, including 7 in India, 2 in the United States and 1 in Switzerland, and holds approvals from multiple regulators.