After the company agreed to a partnership with Greenko ZeroC to enable carbon-free energy and green molecule solutions, Granules India rose 2.61% to Rs 328.70. 

Applications in the pharmaceutical sector to establish leadership in sustainability and circular economy initiatives and lead the industry. Also, the company will have its first collaboration in Kakinada, Andhra Pradesh, to promote and develop a Generic Green Pharma Zone (GPZ). The 100-acre facility will open in phases. The project cost is expected to be Rs 2,000 crore over five years.

Greenko ZeroC will supply Carbon Free Energy and enable Green Hydrogen and its various chemical derivatives. Granules will manufacture energy-intensive fermentation-based products at this facility using Carbon-Free Energy. This collaboration will allow the utilisation of fungible carbon offset instruments across Granules’ global manufacturing locations.

Hyderabad-based Granules India is a vertically integrated fast, growing Indian pharma company which represents the manufacturer of the entire pharmaceutical value chain from Pharmaceutical Formulation Intermediates (PFIs), Active Pharmaceutical Ingredients (APIs) and Finished Dosages (FDs).

On a consolidated basis, the net profit rose 79.8% to Rs 145.10 crore on a 29.5% rise in net sales to Rs 1,150.73 crore in July-September quarter FY23 over July-September quarter FY22.