Granules India Ltd; a leading pharmaceutical formulation intermediates company with complete vertical integration, today announced a 13% per cent rise in net turnover at Rs.50.21 crore for the second quarter ended December 31, 2006 compared to Rs.44.44 crore in the corresponding quarter last year. Net profit during the quarter grew 37% per cent at Rs.3.05 crore compared to Rs.2.22 crore in the corresponding quarter ended December 31st 2005.

For the six months ended period, i.e. H1FY07, Granules has reported revenues of Rs. 95.60 crore, a surge of 13% as compared to H1FY06. Net profit grew by 21% to Rs.5.08 crore..

Highlighting the company’s performance, Mr.c.Krishna Prasad, Managing Director, Granules India, said, “Our additional investments towards the international markets are paying off. Revenues from the EU registered a 122 per cent Q-o-Q growth and those from the Asia-Pacific region grew at 153 per cent during this period.”.

Mr.Prasad also added, “Metformin API and PFI’s have contributed to a large extent for the growth. We expect the remainder of the year to showcase even better performance in sales.”.

During the quarter, Granules signed a Memorandum of Understanding with Hubei Biocause Heilen Pharmaceutical Company (Biocause) of China. Granules acquired a 50 per cent stake in the company to manufacture and sell Active Pharmaceutical Intermediates (APIs), starting with Ibuprofen. Biocause is one of the biggest Ibuprofen manufacturers and exporters in the world. .

In December 2006, PharmaMatch B.V. and Granules India signed a Memorandum of Understanding to develop, manufacture and market formulations in the European Market jointly. This arrangement kicked-off with the transfer of existing marketing authorizations by PharmaMatch to Granules for products like Paracetamol where Granules has the basic and the necessary skill sets to deliver the same..

The company is also venturing into contracts for product development with various partner companies. In January 2007, Granules India signed its first Master Services Agreement with GlaxoSmithKline Consumer Healthcare R&D (GSK CH R&D) for product development..

About Granules India Ltd
(BSE: 532482, NSE: GRANULES, Reuters: GRAN.BO)
Granules India Ltd. is a fully integrated pharmaceutical formulations manufacturer with the world's largest 'granulation' capacity. The company manufactures several strategic Active Pharmaceutical Ingredients (APIs) and multiple Pharmaceutical Formulation Intermediates (PFIs), which are distributed in 35 countries. It is foraying into manufacturing of tablets with a capacity of 6 billion tablets per annum. This facility will strengthen its presence in the pharma outsourcing space as it will have capabilities of offering a wide range of products beginning from APIs to finished dosages (coated/uncoated).

For further details please contact:

Granules India
Mrs.N.Madhavi
Cell: 91 98663 20405

Adfactors PR Pvt. Ltd; Mumbai
Rakesh Sharma/ Shalaka Parab
Phone: 022- 22813565
Email: rakesh@adfactorspr.com / shalaka@adfactorspr.com