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Motilal Oswal Report
Granules India Ltd. delivered a better-than-expected Q1 FY22 performance, led by better off-take in the pharmaceutical formulation intermediates and finished dosage segments.
The impact of the sharp rise in key starting materials for paracetamol was offset by controlled opex, driving better-than expected profitability during the quarter.
The improved availability of KSMs and new launches would further enhance Granules India's performance going forward.
We marginally tweak our earnings per share estimate for FY22/FY23E, factoring in-
the easing of the supply situation for KSMs and
higher logistic costs.
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