Manufactures and sells generic pharmaceutical formulations and active pharmaceutical ingredients (APIs) across US, ex-US international, India and API markets, with a recently added US branded arm. The US generics franchise is built on 245 cumulative ANDA approvals from USFDA (225 final approvals as of late July 2026), with 6 new ANDA launches in Q4 FY26 alone; FY27 growth in this segment is guided at 10-15% in INR terms. India formulations delivered 5% FY26 growth, with specialty therapies (gynaecology, gastrology, ophthalmology) and animal healthcare outperforming the base business. Ex-US international generics grew 20% in FY26, and the API business delivered modest Q4 growth from volumes against pricing headwinds. The company entered US branded through Alembic Therapeutics with the February 2026 launch of Pivya, which produced a 100-150 bps EBITDA drag and is expected to stop weighing on margins by end-FY27. Manufacturing sits at F2/F3 facilities (ophthalmic line at full capacity, other lines at 40-60% utilisation) plus a fully operational Indore API plant; FY27 capex is guided at INR300-350 crore. Other operating expenses (34.2% of revenue), materials (23.8%) and employee costs (23.6%) are the largest cost lines, with R&D spiked to 11% of revenue in Q4 from peptide development and guided to INR750-800 crore (~8-9% of revenue) for FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. US Generics, Ex-US International Generics, India Formulations, API (Active Pharmaceutical Ingredients), US Branded (Alembic Therapeutics). Diversified global generics manufacturer with US, India and ex-US formulation businesses plus an API arm; asset-heavy formulation manufacturing with high R&D intensity and ongoing investment in specialty, peptides and US branded.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,306 | 5,653 | 6,229 | 6,672 | 7,345 |
| EBITDA (ex other income) | 874 | 708 | 933 | 1,021 | 1,051 |
| margin % | 16.5 | 12.5 | 15.0 | 15.3 | 14.3 |
| Owners' profit | 546 | 342 | 616 | 583 | 671 |
| EPS, as reported (₹) | 27.76 | 17.40 | 31.33 | 29.68 | 34.33 |
| ROE % · ROCE % | 9.9 · 11.8 | 7.8 · 9.6 | 12.8 · 13.8 | 11.2 · 14.6 | 11.8 · 12.8 |
| Debt / equity (x) | 0.12 | 0.15 | 0.09 | 0.23 | 0.24 |
| Cash from operations | 552 | 724 | 803 | 88 | 783 |
| Capex | (426) | (443) | (327) | (564) | (435) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,648 | 1,693 | 1,770 | 1,711 | 1,910 | 1,876 | 1,848 | 2,150 |
| Profit before tax | 180 | 177 | 193 | 191 | 222 | 163 | 118 | 221 |
| Net profit | 153 | 138 | 157 | 154 | 184 | 132 | 202 | 172 |
| EPS (₹) | 7.79 | 7.01 | 7.98 | 7.85 | 9.40 | 6.76 | 10.31 | 8.80 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 | 18.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · USFDA inspection at Vadodara facility completed with no observations | regulatory legal | high | — | — |
| 7 Sept 2026 · Alembic Pharma sets up wholly owned subsidiary in Dubai for global pharma push | strategic transactions | medium | — | — |
| 27 Aug 2026 · Alembic Pharma schedules investor meetings on Sep 1-2, 2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Alembic Pharma to hold investor meetings on Sept 1-2 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Newspaper notice for lost share certificates and IEPF claim | compliance | minimal | — | — |
| 20 Aug 2026 · Alembic Pharma appoints new Company Secretary and Compliance Officer | management changes | medium | — | — |
| 11 Aug 2026 · Special window opened for transfer and demat of physical shares | compliance | minimal | — | — |
| 10 Aug 2026 · Company Secretary Manisha Saraf resigns from Alembic Pharmaceuticals | management changes | high | — | — |
| 10 Aug 2026 · Company Secretary Manisha Saraf resigns from Alembic Pharma | management changes | high | — | — |
| 10 Aug 2026 · Q1 FY27 earnings call transcript: revenue up 26%, raises growth guidance | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 12.4 |
| 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.9 | 28.9 | 68 of 169 | 60% |
| P/B | 2.8 | 3.3 | 72 of 163 | 56% |
| ROCE | 11.3 | 10.8 | 88 of 183 | 52% |
| ROE | 11.8 | 10.4 | 69 of 171 | 60% |
| Debt / Equity | 0.2 | 0.1 | 106 of 171 | 38% |
| EBITDA margin | 16.1 | 17.5 | 87 of 165 | 48% |
| Revenue growth | 25.7 | 16.3 | 57 of 161 | 65% |
| Profit growth | 12.2 | 30.9 | 101 of 158 | 36% |
| Market cap | 15862 | 839 | 36 of 182 | 81% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
