Granules India gains after paracetamol unit passes US FDA inspection

Granules India rose 2.47% to Rs 406 at 15:13 IST on BSE after the company said that its paracetamol facility completed US drug regulator's inspection.

The company made the announcement during trading hours today, 16 June 2014.

Meanwhile, the BSE Sensex was down 41.02 points, or 0.16%, to 25,187.15.

On BSE, so far 54,000 shares were traded in the counter, compared with an average volume of 76,302 shares in the past one quarter.

The stock hit a high of Rs 416.45 and a low of Rs 380 so far during the day. The stock hit a record high of Rs 435.30 on 11 June 2014. The stock hit a 52-week low of Rs 103.70 on 26 June 2013.

The stock had outperformed the market over the past one month till 13 June 2014, rising 5.84% compared with 5.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 45.69% as against Sensex's 15.86% rise.

The small-cap pharmaceutical manufacturing company has an equity capital of Rs 20.34 crore. Face value per share is Rs 10.

Granules India announced its paracetamol facility successfully passed a US Food and Drug Administration (USFDA) inspection without any violation of USFDA's requirements. The facility has the world's largest single active pharmaceutical ingredient (API) production line by volume.

Granules' four API facilities have successfully passed USFDA inspections in the past 12 months. All of Granules' facilities including its finished dosage and PFI facility are approved by leading regulatory agencies including the USFDA, EDAM, Health Canada and Korean FDA.

Granules India's consolidated net profit surged 90.33% to Rs 23.62 crore on 55.33% growth in total income from operations to Rs 317.47 crore in Q4 March 2014 over Q4 March 2013.

Granules India is a fast growing pharmaceutical manufacturing company with world class facilities and is committed to manufacturing excellence, quality and customer service. The company produces finished dosages (FDs), pharmaceutical formulation intermediates (PFIs) and active pharmaceutical ingredients (APIs) for quality conscious customers in the regulated and semi-regulated markets. The company's global presence extends to over 300 customers in 60 countries through offices in India, US, UK, China and Colombia. Granules offer all three components of the pharmaceutical value chain which gives the customers flexibility and choice.

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