History

Granules India Limited was founded on March 18th, 1991. It commenced its operations as a merchant exporter of bulk drugs like paracetamol, guaifenesin and chloropheniramine maleate. Since 1992, GIL concentrated on the export of paracetamol powder. In 1993, Granules established its first PFI facility at Jeedimetla. In 1995, Granules became a listed company, after having initial public offerings at the Hyderabad Stock Exchange. In 2001, Triton Laboratories merged with Granules. Two years later, the company set up a new large-volume PFI facility in Gagillapur and a wholly owned subsidiary - Granules USA for marketing in the US. In 2005, A new Paracetamol plant was built in Bonthapally, Hyderabad. In 2008, Granules entered into the Finished Dosage segment. Granules received US FDA approval for its first Abbreviated New Drug Application (ANDA) in 2020. In 2013, the company established an API R&D facility in Pragathi Nagar, Hyderabad further to strengthen its vision of being an integrated player. It entered the Over-the-Counter business in the US in 2015, through its own label Granules Consumer Healthcare for OTC products to control the value chain. Next year, Granules laid down the foundation for its Oncology OSD Plant in Visakhapatnam. In 2016, Granules launched the Self Directed Team (SDT) program in manufacturing units to nurture skill development. In 2020, Granules laid the foundation for the largest single manufacturing site for the multi-unit pellet system facility, which was completed in 2022. The company launched a new greenfield packaging facility in Virginia, USA in 2022-23. The company established Granules CZRO, a wholly-owned subsidiary of Granules India Limited in 2023. Over the years, the company has created a leadership position in the off-patent drugs segment, while ensuring a strong presence in certain first line of defence products, such as Paracetamol, Ibuprofen, Metformin and Guaifenesin. The company has a global presence across over 80 countries, servicing over 300 clients. In FY 2022-23, approximately 20% of the total energy consumed at the Formulation unit located at Gagillapur, Hyderabad was from Solar Energy.

Business Segments

1. Active Pharmaceutical Ingredient (API)

Granules is a manufacturer of APIs, i.e. biologically active ingredients used for medical solutions. It operates manufacturing facilities with DCS (Distributed Control systems) to ensure minimal human intervention while maximising productivity and quality. It is a global leader in the production of Paracetamol, Metformin, Guaifenesin, and Methocarbamol.

2. Pharmaceutical Formulation Intermediate (PFI)

PFIs are a blend of active and inert ingredients. Granules India pioneered the concept of commercialising PFIs or Pre formulation Intermediates, in order to reduce the cost of products. It is the largest PFI producer in India.

3. Finished Dosage (FD)

The company is also an integrated manufacturer of Rx and OTC products, including multi-particulate pellet system-based products. It develops and manufactures tablets, capsules, press fits, oral solutions, suspensions and powder for oral solutions. It exports these, with a focus on North America, Europe and South Africa amongst others. Subsidiaries It has the following subsidiary companies, all of which are wholly owned subsidiaries:

1. Granules USA, Inc.
2. Granules Pharmaceuticals, Inc.
3. Granules Europe Limited
4. Granules Consumer Health
5. Granules Life Sciences Private Limited
6. Granules CZRO Private Limited

Of these, Granules Consumer Health is a wholly owned step down subsidiary.

Key Personnel

Dr. Krishna Prasad Chigurupati, Chairman and MD Dr. Chigurupati’s pharmaceutical journey started in 1984 with the manufacturing of high-quality Paracetamol for global markets. He pioneered many innovations in pharmaceutical manufacturing, such as commercialising Pharmaceutical Formulation Intermediates as a cost-effective input for global finished dosage manufacturers. To date, he has filed 33 patents, out of which 5 patents have been granted so far. He expanded the company by setting up facilities across the continents in countries such as China and the US.

Corporate Actions

The company conducted the following corporate actions: Buyback of Shares The company conducted buyback of shares, once with a record date of August 23, 2022, and then with a record date of March 20, 2020. Stock Split Granules has split its stock once with a record date of March 24, 2015, from a face value of ₹10 to ₹1 per share. Mergers and Acquisitions

• In 2014, Granules acquired Auctus Pharma, an API manufacturing facility with regulatory approvals.