Granules not considering stake sale; says looking at inorganic growth
Granules not looking at any stake sale, Priyanka Chigurupati, executive director of the company informed CNBC-TV18.
Granules not looking at any stake sale, Priyanka Chigurupati, executive director of the company informed CNBC-TV18.
The pharmaceutical company reported earnings for the June-ended quarter with growth led by fixed dosages and pharma formulation intermediates.
“We are not doing anything. We are 100 percent committed to this business and we will stay this way going forward,” Chigurupati said.
On fund raising, she said, “I do not think we will be needing any additional funding in the near-term to get into complex molecules.”
“Our net debt went up because of working capital requirements, but we are certainly looking at inorganic growth and I do not think it will be over and above what we afford to do at this point. Therefore, it is important to note that any strategic tie-up that we have will fall within the existing realm of our current strategy,” said Chigurupati.
For the entire management interview, watch the video
(Edited by : Anshul Majumdar)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM