Alkem Laboratories Limited (ALKEM)

Mid Cap

Alkem Laboratories is a leading Indian pharmaceutical company with over 50 years of operations, ranking #3 in prescriptions and #6 by value in the Indian Pharmaceutical Market (IPM). It has a strong presence in domestic formulations, US generics, and non-US international markets, supported by significant R&D and a large field force.

₹5,004

-46.00 · -0.91%

Market cap ₹59,830 Cr

IndicesNifty 500

ThemesPharma Healthcare & Hospitals

Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am IST

Details

Quote21 Oct, 04:45 am IST

Base fundamentals20 Oct 2026 · screener

Latest result14 Aug, 01:53 pm IST

Score21 Oct, 04:30 am IST · v4.3-runtime-valuation

Tags02 May 2026

Coverage14/14 · 100%

Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)

Technical timing lens

Trend score and candlestick chart

53Neutral

full bear SMA stack · MACD − · near 52W low · sector +3.8pp vs Nifty 500 (3M)

Stock trend: 22

Sector RS: 98

Sector 3M: -1.8% vs Nifty 500 -5.6%

Pharma FPI tailwindFlow only

FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence

Compare peers →

Technical chart

ALKEMD candles · FIT view-4.4%

Latest close ₹5004.00 on 2026-10-19

Bar

-0.8%

RSI

MACD hist

-21.32

52W pos

2026-10-19O ₹5042.50H ₹5099.50L ₹4975.50C ₹5004.00Vol 95,218 sh

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

ALKEMNifty PharmaNifty 500

ALKEM: -11.5%
Nifty 500: -5.6%
Nifty Pharma: -1.5%
Vs Nifty 500: -5.9 pp

Chart stats

19 Oct 2026

From 52W high: -15.7%
52W range position: 3%
ATR (14): 2.4%
Volume vs 20D: 0.64x
Avg traded value: ₹71.6 Cr
20D price channel: ₹4,975.5 - ₹5,447

Quarter ended 30 Jun 2026

Bad · 0

PAT -22% YoY · margin compression · Rev +11% YoY

Revenue: ₹3,740 Cr; YoY +10.9%
PAT: ₹521 Cr; YoY -22.0%
Operating margin: 20.0%; QoQ +600 bps
PAT margin: 13.9%; QoQ +696 bps

Filed 14 Aug 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 4 Downtrend

Current trend context ranked against the Nifty 500. It describes the chart; it is not a buy or sell signal.

RS percentile: 46; -2 ranks over 20D
Stage 2 entry: Not in Stage 2; Current classification: Stage 4 Downtrend
Sector rotation: #1; leading · 48 stocks
Industry rotation: #3; leading · 23 stocks

Trend structure

Below 20-DMABelow 50-DMABelow 200-DMA

RSI (14)

Weak momentum

MACD

Below signal

Histogram -21.32

Volume participation

0.6x average

Versus 20-session average

20-session position

6% of range

₹4,975.5 low · ₹5,447 high

Relative performance

vs Nifty 500

1M: -5.0 pp; stock -8.5%
3M: -5.9 pp; stock -11.5%
6M: -7.7 pp; stock -11.3%
1Y: -2.9 pp; stock -10.0%

From 52W high

-15.7%

High ₹5,933.5

52W range position

₹4,975.5 - ₹5,933.5

ATR (14)

2.4%

₹119.52

Avg traded value

₹71.6 Cr

20-session average

Current setup

No confirmed setup attached

Review the chart and detailed technical evidence before drawing a conclusion.

Open detailed technicals →

Research snapshot

What the evidence says now

Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.

Suggested next step

Research, do not rush

The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.

U-Score

Legacy · FAIR VALUE

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 30 Jun 2026

Bad · 0/100

PAT -22% YoY · margin compression · Rev +11% YoY

Filed 14 Aug 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹3,740 Cr	+10.9%	+3.8%
EBITDA	₹766 Cr	+3.7%	+48.2%
Operating margin	20.0%	-200 bps	+600 bps
PAT	₹521 Cr	-22.0%	+107.6%
PAT margin	13.9%	-589 bps	+696 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: 26.30
P/B: 4.33
EV/EBITDA: 17.86
Market Cap: 59830.00Cr

Profitability

ROE: 18.90%
ROCE: 21.20%
ROA: 10.57%
Dividend Y: 1.02%

Growth (CAGR)

Revenue 5Y: 11.00%
EPS 5Y: 9.00%
Revenue 3Y: 8.00%
EPS 3Y: 32.00%

Balance Sheet

Debt/Equity: 0.10
Interest Coverage: 17.03×
Altman Z: 7.47
Book Value: 1156.00

Cash Flow

FCF Yield: 3.01%
FCF Positive Y: 6/5
OCF: 1682.00 Cr
EPS TTM: 180.45

Shareholding

Promoter Hold: 49.70%
Promoter Pledge: 0.00%
Momentum 52W: 3%

Financial History

Updated 20/10/2026

Revenue

₹ Cr

Latest: 14.7k+13.5% vs prev

Net Profit

₹ Cr

Latest: 2,351+6.1% vs prev

Return on Equity

Latest: 17.0-8.0% vs prev

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Bearish setup

Trend is weak — long-term trend down. RSI 36.

Price < SMA20 < SMA50 < SMA200 — full bearish stack.
SMA20 roughly flat — short-term momentum stalled.
RSI(14) at 36 — falling, no extreme reading.
MACD below signal, histogram expanding negatively — bearish momentum building.
Within 5% of 52-week low — testing support.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 4 Downtrend

1M return

-8.5%

3M return

-11.5%

6M return

-11.1%

1Y return

-7.9%

RS 1D

RS 20D

-2

Sector rank

Industry rank

Stage evidence

Price is 7.5% below the 30-week proxy.
The 50-DMA is below the 30-week proxy and its slope is falling -0.6%.
Both 3-month and 6-month returns are negative.

50-DMA

price below

200-DMA

price below

Sector

leading

Industry

leading

Relative-strength line vs Nifty 500 (base 100)

261 observations

19 Oct 2026Value 95.44+0.12%

RS vs Nifty 50095

Valuation & peers

U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies

Financial Turnaround

Fundamental score breakdown

U band · FAIR VALUE

Valuation2/30

Growth13/25

Quality13/20

Balance Sheet11/15

Cash Flow6/10

Piotroski

8/9 (+5)

Penalties

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

51/100 · legacy band FAIR VALUE

Positive drivers

FCF yield is supportive at 3.0%.
Piotroski is strong at 8/9.
Balance sheet contributes 11/15 to the score.

Main drags

Fair-value margin of safety is negative at -15.1%.
Valuation is weaker at 2/30; verify the latest quarterly trend.
Growth is weaker at 13/25; verify the latest quarterly trend.

Sector valuation model

Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks

Healthcare valuation needs both earnings quality and regulatory/pipeline context.

Pharma PE/EVEBITDA

Primary lens

PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.

Secondary checks

USFDA risk, launch pipeline, margin trend, domestic vs export mix.

Main risk check

Regulatory setbacks or one-off product cycles can distort valuation.

26.3

4.3

EV/EBITDA

17.9

ROE

18.9%

ROCE

21.2%

FCF Yield

3.0%

Debt/Equity

0.1

MoS

-15.1%

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 51

Legacy U-Score band

FAIR VALUE

Previous: FAIR VALUE

Margin of safety

-15.1%

Previous: -15.1%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026

v4.3-runtime-valuation

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number

₹2,166.45

-131.0% MoS

Growth-justified P/E

24.1

Growth-justified Value

₹4,348.85

-15.1% MoS

PEG

1.83

Comparable companies

Peers

Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

GLENMARK

Mid

Glenmark Pharmaceuticals Limited

Alembic Pharmaceuticals Limited

GlaxoSmithKline Pharmaceuticals Limited

Ajanta Pharma Limited

Emcure Pharmaceuticals Limited

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis intactReviewed 2026-07-16T05:42:20.590Z

Management commentary snapshot

Alkem reported robust Q4 FY26 revenue growth of 14.6% YoY to ₹36,033 Mn and EBITDA growth of 32.2% YoY to ₹5,174 Mn. However, PAT declined 22.7% YoY to ₹2,365 Mn due to ₹1,350 Mn in exceptional items, including gratuity liability and real estate impairment. FY26 saw 13.5% YoY revenue growth and 6.3% YoY PAT growth.

Strong revenue and EBITDA growth across all segments, particularly US and Non-US, indicates healthy underlying business momentum. Domestic outperformance against IPM in key therapies is encouraging. However, the significant impact of exceptional items on Q4 PAT and the Form 483 for Daman facility warrant close monitoring.

Current business mix

Revenue by Geography (Q4 FY26)

Latest issuer-disclosed distribution across 3 reported categories.

Domestic Business65.5%

US Business21.7%

Non-US Business12.8%

Growth engines

Domestic Market Outperformance

Outperformed IPM in six key focus therapies in Q4 FY26 and seven in FY26, with 15+ years of leadership in Anti-Infectives.

New US Launches & Volume

Strong growth traction in new launches and volume increase drove US business revenue growth of 26.2% YoY in Q4 FY26 and 20.3% YoY in FY26.

Strong Brand Families

20 brand families with ₹1000 Mn+ sales in FY26. PAN is the #2 brand in the IPM Top 300. 15 brands rank among the top 3 in their covered market.

Non-US Market Expansion

Non-US business revenue grew 24.1% YoY in Q4 FY26 and 26.7% YoY in FY26, driven by strong growth across all markets.

Tailwinds

Domestic Market Growth

Indian Pharmaceutical Market (IPM) grew by 10.1% YoY in Q4 FY26 and 9.0% YoY in FY26, providing a favorable operating environment.

New Product Traction

Continued growth traction from new launches in the US market contributed to strong US business performance.

Headwinds

Exceptional Items

Q4 FY26 PAT was significantly impacted by ₹1,350 Mn in exceptional items, including gratuity liability and real estate impairment.

Risk radar

Regulatory Compliance

Daman (Formulations) facility received a Form 483 in April 2026, indicating observations from the USFDA inspection, with audit response under submission.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare BOTH

YoY comparison assesses annual growth and seasonality. QoQ is vital for sequential momentum, especially for profitability, which saw a significant Q4 FY26 decline due to exceptional items.

Sector KPIs management disclosed

Domestic Formulations Growth

Q4 FY26 domestic revenue grew 8.8% YoY to ₹23,245 Mn, outperforming IPM by 100 bps. FY26 domestic revenue grew 9.7% YoY to ₹98,514 Mn, outperforming IPM by 20 bps.

US/Export Growth

Q4 FY26 US business revenue grew 26.2% YoY to ₹7,681 Mn. FY26 US business revenue grew 20.3% YoY to ₹29,845 Mn. Non-US business grew 24.1% YoY in Q4 FY26 and 26.7% YoY in FY26.

Launch Pipeline/Approvals

In Q4 FY26, 5 ANDAs were filed and 4 ANDAs approved. For FY26, 8 ANDAs and 1 BLA were filed, with 17 ANDAs approved. Total 192 ANDAs filed, 167 approved as of Mar 31, 2026.

USFDA Observations

Daman (Formulations) received Form 483 in Apr-26; audit response is under submission. Baddi (Formulations) received EIR in June 2024. Taloja R&D, Ankleshwar, Mandva, California facilities have no observations or EIR received.

Management forward view

Focus on Brand Building

Management emphasizes building robust brand franchises and consistently scaling them, with 20 brand families exceeding ₹1000 Mn in FY26.

Strategic Initiatives

Recent strategic moves include the acquisition of Adroit and Bombay Ortho, and the carve-out of the trade generics business into Alkem Wellness.

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
Daman Facility Regulatory Status	Form 483 received, response under submission.	Resolution of Form 483 and receipt of EIR.
US ANDA Approvals/Launches	4 ANDAs approved in Q4 FY26, 17 in FY26.	Continued pace of ANDA approvals and successful new product launches.
Domestic Market Outperformance	100 bps vs IPM in Q4 FY26, 20 bps in FY26.	Sustained outperformance against the Indian Pharmaceutical Market in key therapies.
EBITDA Margin	14.4% in Q4 FY26, 20.4% in FY26.	Stability and improvement in core operating margins, especially post exceptional items.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score

79Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 83rd percentile within Pharma. No major sub-score weakness stands out.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 21 Oct 2026

management-trust-v1

173 docs text-extracted · 65 concalls text-extracted

Score band

Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank

88th percentile

overall median 67 · Pharma: 83rd pctile, median 70 · Mid: 67th pctile, median 76

Evidence depth

Financial-only

173 documents have extracted text, but claim history is not strong enough yet.

Claim delivery

Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence

What it measures

Reliability of management and financial delivery, using financial behaviour only.

Confidence

Treat this as an early read until more concalls and outcomes are matched.

Investor use

Can support position sizing if valuation and trend also agree.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter

acceptable · holding, pledge, alignment

Cash flow

strong · profit to cash conversion

Balance sheet

strong · leverage and solvency

Discipline

strong · capital discipline

Results

acceptable · quarterly consistency

Trust positives

▸Promoter pledge is zero.
▸FCF yield is positive at 3%.
▸6 years of positive FCF.
▸Debt/equity is 0.10.

Trust risks

▸Promoter holding fell 1.5%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Compare Pharma stocks Browse Indian stocks starting with A Explore fundamental stock screeners Browse Indian investment themes

Related companies

Glenmark Pharmaceuticals Limited (GLENMARK)Alembic Pharmaceuticals Limited (APLLTD)GlaxoSmithKline Pharmaceuticals Limited (GLAXO)Ajanta Pharma Limited (AJANTPHARM)Emcure Pharmaceuticals Limited (EMCURE)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

Source: Bse

Open source ↗

Verify on:NSE India ↗

All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.

Alkem Laboratories Limited (ALKEM)

Trend score and candlestick chart

Technical chart

Relative performance and chart statistics

What the evidence says now

Financials

Quarter ended 30 Jun 2026

Fundamentals

Valuation

Profitability

Growth (CAGR)

Balance Sheet

Cash Flow

Shareholding

Revenue

Net Profit

Return on Equity

Technicals

Daily technical trend read

Relative Strength & Trend Stage

Valuation & peers

Fundamental score breakdown

Why this score?

Positive drivers

Main drags

Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks

Stored run vs live recompute

Score history

Factor attribution

Modelled fair value

Comparable companies

Business, management & trust

Where growth can come from, and what can break the case

Revenue by Geography (Q4 FY26)

Domestic Market Outperformance

New US Launches & Volume

Strong Brand Families

Non-US Market Expansion

Domestic Market Growth

New Product Traction

Exceptional Items

Regulatory Compliance

What management said, and what results must prove

Domestic Formulations Growth

US/Export Growth

Launch Pipeline/Approvals

USFDA Observations

Focus on Brand Building

Strategic Initiatives

Numbers and claims to verify in the next filings

How to read this Trust Score

Forensic breakdown

Trust positives

Trust risks

Continue researching Alkem Laboratories Limited

Important announcements & filings

Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 15 Sep - Dr. Shubhadeep Sinha appointed senior management effective 15 September 2026.

Announcement under Regulation 30 (LODR)-Press Release / Media Release 16 Sep - Alkem launches NeuCeno (cenobamate) in India for partial-onset seizures in adults.

Announcement under Regulation 30 (LODR)-Press Release / Media Release 8 Sep - Alkem launches Renocia Exo, India’s first patented Ginsenoside exosome-based hair growth serum.

Aug 2026 · Transcript

Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Aug - Please find attached herewith intimation for a copy of newspaper publication

Announcement Under Reg 30 (LODR) 14 Aug - Board approves new Baddi manufacturing block with up to ₹75 crore investment.

Announcement under Regulation 30 (LODR)-Updates on Acquisition 17 Jul - Alkem Medtech completed acquisition of 51%-55% stake in Occlutech, making it a step-down subsidiary.

Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Jul - Please find attached herewith Newspaper Publication.

Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Jul - Please find attached herewith the copy of Newspaper Publication.

Announcement under Regulation 30 (LODR)-Newspaper Publication 30 Jun - Please find attached herewith Copy of Newspaper Publication.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 29 Jun - Please find attached herewith Analyst / Investor Meet - Intimation.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Jun - Please find attached herewith Analyst / Investor Meet - Intimation.