Granules India said has entered into an agreement with S.A. Ajinomoto Omnichem N.V., joint venture partner, for sale of 4.28 crore equity shares held by the company in Granules OmniChem for a consideration of Rs 109.85 crore. Conclusion of this transaction is subject to fulfillment of certain closing conditions as well as customary government approvals.

Meanwhile, the S&P BSE Sensex was down 272 points or 0.73% to 37,113.16.

On the BSE, 20150 shares were traded in the counter so far compared with average daily volumes of 43526 shares in the past one quarter. The stock hit a high of Rs 104.3 and a low of Rs 101.4 so far during the day.

The stock hit a 52-week high of Rs 121.25 on 18 Sep 2018. The stock hit a 52-week low of Rs 79 on 10 Dec 2018.

On a consolidated basis, the company's net profit rose 60.7% to Rs 83.24 crore on a 31.3% increase in net sales to Rs 595.27 crore in Q1 June 2019 over Q1 June 2018.

Granules India is a pharmaceutical manufacturing company.

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Granules India announced that the USFDA has issued Establishment Inspection Report (EIR) forCompany's Bonthapally facility located at Hyderabad, Telangana, India.

This facility was inspected by USFDA in July 2019 and there was one (1) observation duringthe inspection. Bonthapally facility is one of the world's largest single site Paracetamol APImanufacturing plant by volume. Along with Paracetamol APIs, the Company has establishedMetformin and Guaifenesin API manufacturing plants in the same facility.

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The Board of Granules India at its meeting held on 29 August 2019 has approved -

1. Approved to divest the entire stake of the Company in Granules OmniChem, an Indian Joint Venture Company. This transaction is subject to approval of the relevant regulatory authorities.

2. Approved the appointment of Harsha Chigurupati as Executive Director of the Company for a term of 5 (five) consecutive years with effect from 29 August 2019. Thisappointment is subject to approval of the Members and the Central Government.

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Granules India announced its intention to divest its entire equityshareholding in Granules OmniChem (GOC) by selling its stake to its joint venture partner. GOC is an equal joint venture between Granules lndia and S.A. Ajinomoto Omnichem N.V. (now doing business as Ajinomoto Bio—Pharma Services), an integrated contract development and manufacturing organization. The manufacturing facility of this joint venture entity is located in Visakhapatnam, India. Conclusion of this transaction is subject to fulfilment of certain closing conditions as well as customary government approvals.

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