Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 27 Aug
Source: Bse
Alembic Pharmaceuticals Limited (APLLTD)
Mid CapPharma stocks · Mid cap · NSE
Alembic Pharmaceuticals Limited is an Indian pharmaceutical company with a diversified business across India branded formulations, International Generics (US and ex-US), and Active Pharmaceutical Ingredients (API). The company focuses on building a robust chronic portfolio in India and expanding its US branded specialty business.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result04 Aug, 07:40 pm IST
Score20 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
71BullishMACD − · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 53
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
Technical chart
APLLTDD candles · FIT view+5.2%Latest close ₹790.35 on 2026-10-19
Bar
+0.0%
RSI
39
MACD hist
-4.76
52W pos
43%
2026-10-19O ₹790.05H ₹799.00L ₹779.00C ₹790.35Vol 1.4L 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
APLLTDNifty PharmaNifty 500
- APLLTD
- -6.2%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- -0.6 pp
Chart stats
19 Oct 2026- From 52W high
- -20.8%
- 52W range position
- 43%
- ATR (14)
- 2.9%
- Volume vs 20D
- 0.62x
- Avg traded value
- ₹16.4 Cr
- 20D price channel
- ₹771 - ₹876.4
₹998
₹635.8 - ₹998
₹23.1
Latest completed session
20-session average
25.4% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST35
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average52
Revenue +25.7% · PAT +11.7% YoY
Technical
Bullish71
Price trend and sector-relative-strength timing.
Valuation
Legacy model-454.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence79
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +26% YoY · PAT +12% YoY · +16% QoQ
Filed 04 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,150 Cr | +25.7% | +16.3% |
| EBITDA | ₹332 Cr | +18.1% | +45.6% |
| Operating margin | 15.0% | -100 bps | +300 bps |
| PAT | ₹172 Cr | +11.7% | -14.8% |
| PAT margin | 8.0% | -100 bps | -293 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 21.00
- P/B
- 2.76
- EV/EBITDA
- 11.34
- Market Cap
- 15683.00Cr
Profitability
- ROE
- 13.40%
- ROCE
- 12.60%
- ROA
- 7.87%
- Dividend Y
- 1.50%
Growth (CAGR)
- Revenue 5Y
- 6.00%
- EPS 5Y
- -9.00%
- Revenue 3Y
- 9.00%
- EPS 3Y
- 28.00%
Balance Sheet
- Debt/Equity
- 0.25
- Interest Coverage
- 11.91×
- Altman Z
- 5.51
- Book Value
- 289.00
Cash Flow
- FCF Yield
- 1.77%
- FCF Positive Y
- 7/5
- OCF
- 783.00 Cr
- EPS TTM
- 35.27
Shareholding
- Promoter Hold
- 69.87%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 45%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 7,025+5.6% vs prev
Net Profit
₹ CrLatest: 640+27.2% vs prev
Return on Equity
%Latest: 11.4+17.8% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
NeutralTrend is undirectional — long-term uptrend intact. RSI 39.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 39 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 21% off 52W high · 24% above 52W low.
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
53
RS percentile
Stage 1 Base / Transition
1M return
-6.6%
3M return
-6.2%
6M return
+3.4%
1Y return
-12.7%
RS 1D
+3
RS 20D
-6
Sector rank
#1
Industry rank
#11
Stage evidence
- Price is within 1.0% of the 30-week proxy.
- The 30-week proxy changed +2.0% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 89.51+1.15%
RS vs Nifty 50090
Valuation & peers
U-Score 35 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 35 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation6/30
Growth4/25
Quality3/20
Balance Sheet12/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
35
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
35/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 12/15 to the score.
- Cash flow contributes 5/10 to the score.
Main drags
- Fair-value margin of safety is negative at -454.7%.
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Growth is weaker at 4/25; 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.
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.
PE
21.0
PB
2.8
EV/EBITDA
11.3
ROE
13.4%
ROCE
12.6%
FCF Yield
1.8%
Debt/Equity
0.3
MoS
-454.7%
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: 20 Oct 2026
v4.3-runtime-valuation
Final score
35
Previous: 34 (+1)
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-454.7%
Previous: -454.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
34
34
34
34
34
34
34
34
34
34
34
34
Factor attribution
Valuation
6+1
was 5
Modelled fair value
Graham Number
₹478.9
-65.0% MoS
Growth-justified P/E
4.0
Growth-justified Value
₹142.49
-454.7% MoS
PEG
—
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ASTRAZEN
Small
AstraZeneca Pharma India Limited
Pharmaceuticals
match 165
43
85.2
23.3%
-98%
WATCHLIST
ALIVUS
Large
Alivus Life Sciences Limited
Pharmaceuticals
match 161
29
47.0
—
+14%
OVERVALUED
PFIZER
Large
Pfizer Limited
Pharmaceuticals
match 160
33
117.0
19.8%
-738%
WATCHLIST
BLISSGVS
Small
Bliss GVS Pharma Limited
Pharmaceuticals
match 160
39
51.4
11.8%
-8%
WATCHLIST
ERIS
Large
Eris Lifesciences Limited
Pharmaceuticals
match 160
55
24.5
18.7%
+47%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
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 2026-10-11T14:11:00.290Z
Management commentary snapshot
Q1 FY27 revenue grew 26% YoY, driven by strong International Generics (37%) and API (33%) growth. US Generics surged 49% YoY, supported by new launches and Bosutinib exclusivity. EBITDA grew 21% YoY, but PAT growth was limited to 12% due to a higher effective tax rate.
Alembic Pharma delivered broad-based growth in Q1 FY27, with US Generics and API segments showing significant momentum. Management raised FY27 growth outlook for US business and the overall company, indicating confidence in execution and pipeline. Continued investments in R&D and the US branded platform are expected to dilute near-term margins but contribute positively from next fiscal year. India branded business growth lags, but management expects improvement in coming quarters.
Growth engines
US Generics New Launches
Launched 7 products in Q1 FY27, with 15 more expected for the rest of the year, strengthening the launch platform for future growth.
Bosutinib Exclusivity
180-day marketing exclusivity on 100mg and 500mg strengths of Bosutinib, launched in June, contributing to US revenue.
Animal Health Division
Delivered a particularly strong quarter with 24% growth, driven by portfolio expansion and field force productivity.
US Branded Specialty Business
Soft launch of Pivya and addition of new products to strengthen the women's health franchise, expected to contribute positively to profit next FY.
Capacity and execution
Ophthalmic Facility Debottlenecking
A preventive debottlenecking maintenance upgrade in the Ophthalmic facility expanded capacity without incremental capex investment.
Manufacturing Capabilities Investment
Continued investments in manufacturing capabilities, debottlenecking initiatives, and capacity enhancement programs to support future growth.
Tailwinds
Volume-Driven Growth in US Generics
Growth in the US Generics business during the quarter was predominantly volume driven, despite ongoing pricing pressure.
Improving Manufacturing Utilization
Better utilization of manufacturing assets contributed to improved profitability and operating leverage.
INR Depreciation
INR depreciation is expected to help in supporting pricing for export-oriented businesses.
Headwinds
Competitive External Environment
The external environment continues to remain competitive with pricing pressure, regulatory expectations, and geopolitical uncertainties.
Solvent Price Increases
Middle East issues led to increased solvent prices, which had a bit of impact on gross margins.
US Branded Platform Investment Impact
Investments in the US branded platform have a near-term impact on profitability, causing about 150 basis points of margin dilution for FY27.
Risk radar
US Generics Pricing Pressure
Pricing pressure remains in the US Generics environment, which could impact future revenue and profitability.
Bosutinib Exclusivity Expiry
Sustainability of Bosutinib revenue is uncertain beyond the November exclusivity period, with potential for drastic impact if competition enters.
India Human Health Underperformance
Few acute and some other divisions are dragging down the India Human Health business, underperforming market growth.
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 YOY
The company explicitly reported all key financial and segment growth figures on a year-on-year basis. This comparison is suitable for assessing performance trends across business cycles and seasonal variations.
Sector KPIs management disclosed
Consolidated Revenue Growth
Consolidated revenue grew by 26% year-on-year to INR 2,150 crores.
International Generics Growth
International Generics grew 37% year-on-year.
US Generics Revenue Growth
U.S. revenues grew 49% year-on-year (37-38% constant currency), supported by volume growth and new launches.
API Business Growth
The API business grew 33% year-on-year, driven by strong volume-led growth.
Management forward view
Revised FY27 US Business Growth Outlook
Management now expects the US business to grow mid to high teens in FY27, up from the earlier low to mid-teens guidance.
Revised FY27 Overall Company Growth Outlook
The overall growth outlook for the company is improved to closer to the mid-teen range for FY27, from the earlier low double-digit range.
US Branded Specialty Profitability Timeline
The US Branded Specialty business is expected to start contributing positively to profit from next financial year onwards.
India Human Health Business Improvement
Management expects to see some positive trends in the India Human Health business in another quarter or two, following leadership changes.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| US Generics Launch Momentum | 7 products launched in Q1 FY27, 15 more expected for the rest of the year. | Continued strong pipeline execution and market share gains from new product launches to offset pricing erosion. |
| US Branded Specialty (Pivya) Ramp-up | Soft launch in Q1 FY27, with investments causing margin dilution. | Sales scale-up and reduction in margin drag, aiming for breakeven by end of FY27 and positive contribution in FY28. |
| India Human Health Turnaround | Underperforming market growth, new Sales & Marketing Head appointed. | Improved field productivity, sharper commercial execution, and acceleration towards market-level growth in acute/specialty segments. |
| Debt Reduction | Gross debt at INR 1,600 crores as of June, higher than March levels due to receivables. | Working capital optimization and reduction of debt levels to March levels and further towards 1x EBITDA in subsequent quarters. |
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 05 Sept 2026
management-trust-v1
96 docs text-extracted · 39 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
96 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 confidenceWhat 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
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 69.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.7%.
- ▸7 years of positive FCF.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Alembic Pharmaceuticals Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 27 Aug - Alembic Pharmaceuticals scheduled one-to-one investor meetings on September 1-2, 2026 in Mumbai and virtually.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 18 Jul - NATCO received USFDA tentative approval for Olaparib tablets; Alembic will distribute in U.S.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.