Hyderabad, September 6, 2016.
Few of our investors brought to the notice of the Company that, for last few days an online investment forum is discussing about the Company’s fundamentals and ethics by connecting a part of the content of the report issued by a Singapore based investment Company in the month of May 2016. Shareholders informed us that, the said report talks about a suspected accounting fraud carried out over the financial years 2012-15 in an Indian listed pharmaceutical Company. However, name of the Company was not mentioned in the said report and the figures quoted in the report are also not matching with audited annual accounts of our Company.
We wish to inform all the stakeholders of the Company that, the pointers indicated in the said report are not related to the Company. We would also like to inform that, the accounts are prepared in as per applicable accounting standards and audited by experienced Chartered Accountant firm.
About Granules India Ltd.
(BSE: 532482, NSE: GRANULES)
Granules is a fast growing pharmaceutical manufacturing company with world class facilities and is committed to manufacturing excellence, quality and customer service. The Company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs) for quality conscious customers in the regulated and semi-regulated markets. Granules support customers with unique value, extensive product range, proactive solutions and a global network of associates. The Company’s global presence extends to over 300 customers in 75 countries through offices in India, U.S., U.K., China and Colombia. Granules offer all three components of the pharmaceutical value chain which gives the customers flexibility and choice.
The Company has its own ANDAs and dossiers which enable customers to quickly enter a market instead of filing their own applications. Granules has a highly skilled regulatory affairs department that can offer customers support and can help them navigate through regulatory issues.