Granules India gains on appointing Mukesh Surana as CFO

Granules India rallied 4% to Rs 340.45 after the company's board approved appointment of Mukesh Surana as chief financial officer (CFO) with effect from 30 December 2022.

Mukesh Surana is a chartered accountant with an all-India rank. He has over two decades of global experience in the fields of finance, accounts, financial planning and analysis, and taxation. He is currently with Garware Technical Fibres as President & CFO. He was associated at a leadership level with reputed organizations such as Kalpataru Power Transmission and Asian Paints.

Meanhwhile, the Granules India board also approved incorporating a wholly owned Indian subsidiary for setting up a greenfield facility for manufacturing of green chemicals.

Granules India is primarily involved in the manufacturing and selling of active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs).

The company's consolidated net profit rose 79.8% to Rs 145.10 crore on 29.5% rise in net sales to Rs 1150.73 crore in Q2 FY23 over Q2 FY22.

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