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Granules not considering stake sale; says looking at inorganic growth

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Granules not considering stake sale; says looking at inorganic growth

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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
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