
Granules India vs Ipca Laboratories: Which Stock Should You Track
Granules India MCap Rs 20,796 Cr, PE 31.40x, ROE 11.70%, D/E 0.30. Ipca Laboratories MCap Rs 43,720 Cr, PE 36.93x, ROE 14.15%, D/E 0.10.
Updated: 5 Aug 2026 • 9:55 am
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Granules India vs Ipca Laboratories is a comparison mid-cap pharma investors look up when evaluating two value-chain different pharmaceutical companies. Granules India manufactures bulk APIs (paracetamol, metformin, ibuprofen), formulations and finished dosages for domestic and export markets, while Ipca Laboratories is a broader pharma company making branded formulations for India and exports, plus APIs for global regulated markets.
This Granules India vs Ipca Laboratories article covers reach and market position, key products, latest declared results and stock valuation. The Granules India vs Ipca Laboratories data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.
Granules India vs Ipca Laboratories: Reach and Market Position
On the Granules India side of the Granules India vs Ipca Laboratories comparison, Granules India exports APIs and formulations to the USA, Europe and other regulated markets. Paracetamol, ibuprofen and metformin are its core API molecules. Market capitalisation is Rs 20,796 Cr.
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On the Ipca Laboratories side of the Granules India vs Ipca Laboratories comparison, Ipca Laboratories sells branded prescriptions for malaria, pain, cardiac and anti-infective through its Indian domestic field force, and exports APIs and finished dosage to regulated markets. Market capitalisation is Rs 43,720 Cr.
Granules India vs Ipca Laboratories: Key Products and Business Mix
In the Granules India vs Ipca Laboratories product comparison, Granules India offers: Granules India makes paracetamol, metformin, ibuprofen APIs plus finished dosages. P/E is 31.40x, ROE 11.70 percent, debt to equity 0.30.
For Ipca Laboratories in this Granules India vs Ipca Laboratories breakdown: Ipca Laboratories makes anti-malarial drugs (Lariago, Falcigo), anti-pain drugs, cardiovascular and antibiotic APIs and branded formulations. P/E is 36.93x, ROE 14.15 percent, debt to equity 0.10.
Granules India vs Ipca Laboratories: Latest Results
The Granules India vs Ipca Laboratories results for Granules India: Granules India has a market cap of Rs 20,796 Cr and P/E of 31.40x. ROE is 11.70 percent. EPS is Rs 26.73.
The Granules India vs Ipca Laboratories results for Ipca Laboratories: Ipca Laboratories has a market cap of Rs 43,720 Cr and P/E of 36.93x. ROE is 14.15 percent with low debt at 0.10. EPS is Rs 46.66.
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Granules India vs Ipca Laboratories: Stock and Valuation
The Granules India vs Ipca Laboratories stock comparison uses the latest available market data from Groww. Investors tracking Granules India vs Ipca Laboratories should verify current prices on NSE or BSE before trading.
Granules India trades at a market cap of Rs 20,796 Cr and P/E of 31.40x with ROE of 11.70 percent. Ipca Laboratories trades at Rs 43,720 Cr market cap and P/E of 36.93x with a higher ROE of 14.15 percent and minimal debt. Ipca is twice Granules's market cap and delivers higher capital returns.
Granules India vs Ipca Laboratories: Quick Comparison Table
The Granules India vs Ipca Laboratories comparison table below summarises the key metrics covered in this article side by side.
| Parameter | Granules India | Ipca Laboratories |
|---|---|---|
| Sector | Pharma: API and formulations | Pharma: branded domestic and export APIs |
| Market Cap | Rs 20,796 Cr | Rs 43,720 Cr |
| P/E Ratio | 31.40x | 36.93x |
| ROE | 11.70% | 14.15% |
| Debt to Equity | 0.30 | 0.10 |
| Key molecules | Paracetamol, metformin, ibuprofen | Anti-malarial, cardiovascular, anti-infective |
| Revenue split | USA and EU exports dominant | India domestic branded plus regulated exports |
Conclusion
The Granules India vs Ipca Laboratories comparison above covers the key data points on reach, products, results and valuation. Granules India vs Ipca Laboratories are two mid-cap pharma companies with different product strategies. Ipca is larger with a higher ROE and a well-established domestic branded prescription business, while Granules India is a focused API and bulk formulation player with regulated market exposure. Investors should review USFDA status and export pipeline and consult a SEBI-registered advisor before investing.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the main difference between Granules India and Ipca Laboratories?
Ans. Granules India is primarily an API and bulk formulation manufacturer for paracetamol, metformin and ibuprofen. Ipca Laboratories has a larger branded domestic prescription business for anti-malarial and pain drugs plus API exports.
Which company has the higher ROE?
Ans. Ipca Laboratories has an ROE of 14.15 percent, above Granules India at 11.70 percent.
Which stock trades at a lower P/E?
Ans. Granules India trades at 31.40x trailing earnings, lower than Ipca Laboratories at 36.93x.
Does Ipca Laboratories export to regulated markets?
Ans. Yes. Ipca Laboratories exports APIs and finished dosages to the USA, Europe and other regulated markets alongside its large Indian domestic branded pharma business.
What is paracetamol's importance to Granules India?
Ans. Paracetamol is one of Granules India's core API molecules. The company is one of the world's largest paracetamol manufacturers by capacity.
What risks apply to pharma companies?
Ans. Both companies face risk from US FDA observations at manufacturing sites, pricing pressure in generic APIs, API pricing competition from China and domestic formulation market dynamics.
Should I invest in Granules India or Ipca Laboratories?
Ans. Ipca offers a higher ROE and a domestic branded prescription business, while Granules offers API manufacturing exposure. Review regulatory track records and consult a SEBI-registered advisor before investing.
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