Embracing Change. Shaping Tomorrow.
Granules India Limited Annual Report 2023-24
Embracing Change. Shaping Tomorrow.
FY 23-24 was a pivotal year that tested our adaptability and resilience in various ways. Our strategic emphasis on formulations helped maintain a steady turnover and increased our value-added percentage, despite cyber incidents, declining Paracetamol API volumes, and market price erosion.
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Limited at a Glance
Over the past four decades, Granules India has emerged as a high-growth, vertically integrated pharmaceutical company with consistent performance and a growing global footprint.
We have carved a distinct position in the global pharmaceutical sector by delivering superior quality API, PFI and FD through manufacturing excellence, process innovation and proven regulatory expertise.
Business Segments
Embracing Change.
Shaping Tomorrow.
At Granules, we take pride in our diverse portfolio across Active Pharmaceutical Ingredients (API), Pharmaceutical Formulations Intermediates (PFI), and Finished Dosage (FD). These segments showcase our commitment to pioneering solutions in pharmaceutical manufacturing, enhancing efficiency, and meeting global healthcare needs with cutting-edge innovation.
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64%
Share of revenues from our FD business on FY 23-24
22%
Share of revenues from our API business on FY 23-24
14%
Share of revenues from our PFI business on FY 23-24
Business Strategy
Our strategic framework revolves around strengthening our core, driving R&D and innovation, and advancing sustainability.
STRENGTHENING OUR CORE
Fortifying Our Leadership
Our strategic focus lies in improving API and formulations manufacturing productivity, optimizing sourcing and logistics, and implementing a commercial excellence program to strengthen our market presence and expand customer share.
R&D AND INNOVATION
Catalyzing Growth through Product Portfolio Expansion
Aligned with our strategic vision of transforming into an R&D-driven organization, we are actively augmenting our product development capabilities. Through these advancements, we aim to broaden our overall capabilities, elevate the quality of our portfolio, and significantly increase the number of regulatory filings.
SUSTAINABILITY
Charting a Sustainable Future
Sustainability is a guiding principle in our strategic vision and decision-making process, integrating environmental and social considerations with our business objectives.
Message from the Chairman and Managing Director
Demonstrating Resilience, Emerging Stronger
The pharmaceutical industry has a dual responsibility: to heal lives and to heal the planet. Through innovative strategies and sustainable practices, we can drive our industry towards decarbonization and contribute significantly to a carbon-neutral future.
DR. KRISHNA PRASAD CHIGURUPATIChairman and Managing Director
Key Performance Indicators
Progressing with Purpose
22%
Absolute reduction in GHG emissions (Scope 1 and 2)
47%
Of electricity consumption from renewable sources (PPA, rooftop solar, and I-RECs)
~40%
Of our waste water is recycled
88%
Hazardous waste sent for reused (co-processing)
80%
Of vendors engaged to determine product carbon footprint and climate commitment
6,525+
Employees
11.7%
Female employees
31%
Increase in female employees
100%
Return-to-work rate
1200+
Students trained through Pharma Pathshala
Zero
Confirmed cases of discrimination
25%
Women on the Board
Sustainability Vision
Sustainability as an Opportunity to Innovate, Transform, and Lead with Resilience
Download SectionWe developed a comprehensive strategy in FY 23-24 to realize our sustainability vision, setting in motion specific targets and initiatives across three identified pillars:
Environmental stewardship beyond limits
Breaking barriers
Integrity in action
The Board is responsible for overseeing the implementation, reviewing progress, and recommending course corrections where needed.
Responsible Actions for a Sustainable Tomorrow
We strive to balance our operational needs with our commitment to minimizing environmental footprint. To deliver a measurable positive impact across emission reduction, optimal resource use, water and waste management, we have defined time-bound targets and continuously monitor our progress against those goals.
Social – People
Nurturing Talent, Shaping the Future
At Granules, we prioritize creating a conducive environment where people thrive through continuous learning, personal growth, and a strong focus on safety. Our dedication to diversity, inclusion, and employee well-being ensures everyone feels valued and empowered.
Social – Communities
Impacting Lives for a Better Society
We are committed to shaping a better society through impactful healthcare, education, and community development initiatives. From empowering rural youth, supporting critical healthcare services, promoting education, and fostering sports excellence, our efforts aim to uplift communities and contribute to a brighter future.
Effective Leadership and Ethical Governance
At Granules, we seek to foster a robust system of governance founded on the principles of integrity, transparency, and accountability. Our Board and senior management ensure that our governance framework aligns with our core values and principles.
Board Oversight and Leadership
Our Board of Directors is pivotal in overseeing and guiding our governance practices. Comprising experienced professionals from diverse backgrounds, the Board sets the strategic direction and monitors compliance with regulatory requirements and ethical standards. Their leadership ensures that Granules operates with the highest integrity and ethical conduct.
Board Composition
Risk Management
Managing Risks with Prudence
At Granules, we recognize the importance of a robust risk management system that aligns business decisions with identified and emerging risks. Our risk management policy and framework provides a comprehensive view of our risk exposures and facilitates proactive mitigation.
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Awards and Recognitions
Celebrating Excellence
We take pride in the prestigious awards and recognitions that Granules India Limited has received over the past year. These accolades honor our relentless pursuit of quality and innovation and highlight our commitment to sustainability, leadership excellence, and future readiness.
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