PROJECT

Projects

Summary of Investment Information

Project Number

38095

Company Name

GRANULES INDIA LIMITED

Date SPI Disclosed

Feb 17, 2017

Country

India

Region

South Asia

Projected Board Date

Mar 21, 2017

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Oct 16, 2025

Department

Regional Industry - MAS Asia & Pac

Industry

Health, Education and Life Sciences

Previous Events

Approved : Mar 29, 2017
Signed : Mar 31, 2017
Invested : Apr 13, 2017

Sector

Pharmaceuticals and Medicine

Project Description

Granules India Limited (“Granules” or the “Company”) – an existing IFC client - is an Indian pharmaceutical company engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs) of a variety of drugs, including over-the-counter ones. The Company sells its products mainly in the US, Europe, Latin America and India.

Granules has wholly-owned manufacturing plants near Hyderabad in India (Jeedimetla, Bonthapally, and Gagillapur) and in Vishakhapatnam, India along with a R&D and manufacturing facility in Virginia, USA Further, through its joint ventures, it   has one plant in China and yet another manufacturing plant in Vishakhapatnam, India. .

The Company is undertaking an investment program directed towards setting up new capacity, expanding existing capacities and investing in R&D to improve its product mix in favor of higher value-added products. A large part of the investment program is in the form of capital expenditures in India (the “Project”), which is estimated to cost about US$84 million. The Project includes building a greenfield API manufacturing facility in Vishakhapatnam, India, expanding existing API and PFI capacities, investment in R&D, quality assurance ("QA”), and quality control("QC”), investment  in other general capital expenditures at existing facilities,  and additional warehouse capacity. 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation