Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 30 Oct - Alembic gets USFDA final approval for Venetoclax tablets; may qualify for 180-day exclusivity.
Source: Bse
Alembic Pharmaceuticals Limited (APLLTD)
Mid CapPharma stocks · Mid cap · NSE
Alembic Pharmaceuticals Limited is an Indian multinational pharmaceutical company engaged in the research, development, manufacturing, and marketing of pharmaceutical products, active pharmaceutical ingredients (APIs), and formulations across domestic and international markets including the US and Europe.
Data qualityFresh enough for analysisQuote updated 07 Nov, 04:48 am ISTDetails
Quote07 Nov, 04:48 am IST
Base fundamentals01 Nov 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result04 Nov, 02:27 pm IST
Score07 Nov, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 32.0 (n=183)
Technical timing lens
Trend score and candlestick chart
68BullishSMA20 -3.0% / mo · RSI overbought · MACD + · near 52W high · sector +6.3pp vs Nifty 500 (3M)
Stock trend: 51
Sector RS: 94
Sector 3M: +5.3% vs Nifty 500 -1.1%
Pharma FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
APLLTDW candles · FIT view-8.5%Latest close ₹965.15 on 2026-11-02
Bar
+20.5%
RSI
69
MACD hist
6.84
52W pos
91%
2026-11-02O ₹801.10H ₹985.00L ₹786.50C ₹965.15Vol 86.5L 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
- +15.7%
- Nifty 500
- -1.1%
- Nifty Pharma
- +5.2%
- Vs Nifty 500
- +16.8 pp
Chart stats
6 Nov 2026- From 52W high
- -3.3%
- 52W range position
- 91%
- ATR (14)
- 3.8%
- Volume vs 20D
- 5.93x
- Avg traded value
- ₹45.7 Cr
- 20D price channel
- ₹748.3 - ₹985
₹998
₹635.8 - ₹998
₹36.9
Latest completed session
20-session average
53.1% 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 · WATCHLIST32
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +36.3% · PAT +81.5% YoY
Technical
Bullish68
Price trend and sector-relative-strength timing.
Valuation
Legacy model-459.2%
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 Sept 2026
Excellent · 100/100Rev +36% YoY · PAT +81% YoY · margin expansion · +21% QoQ · operating leverage
Filed 04 Nov 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,603.5 Cr | +36.3% | +21.1% |
| EBITDA | ₹563.3 Cr | +78.2% | +69.7% |
| Operating margin | 21.6% | +463 bps | +619 bps |
| PAT | ₹333.9 Cr | +81.5% | +93.7% |
| PAT margin | 12.8% | +320 bps | +481 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 21.22
- P/B
- 2.76
- EV/EBITDA
- 11.34
- Market Cap
- 17821.19Cr
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
- 42.73
Shareholding
- Promoter Hold
- 69.87%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 45%
Financial History
Updated 7/11/2026
Revenue
₹ CrLatest: 8,477+15.4% vs prev
Net Profit
₹ CrLatest: 671+15.3% vs prev
Return on Equity
%Latest: 11.8+5.4% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Weekly technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 69.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~2.0% over last month) — short-term momentum positive.
- RSI(14) at 69 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 3% off 52W high · 52% 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
78
RS percentile
Stage 2 UptrendNew S2
1M return
+20.6%
3M return
+15.7%
6M return
+22.3%
1Y return
+6.8%
RS 1D
+8
RS 20D
+23
Sector rank
#2
Industry rank
#4
Stage evidence
- Price is 21.4% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.3%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
04 Nov 2026
S2 age
3 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
264 observations
06 Nov 2026Value 104.15+6.95%
RS vs Nifty 500104
Valuation & peers
U-Score 32 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 32 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation4/30
Growth3/25
Quality3/20
Balance Sheet12/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
32
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
32/100 · 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 -459.2%.
- Growth is weaker at 3/25; verify the latest quarterly trend.
- Valuation is weaker at 4/30; 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
21.2
PB
2.8
EV/EBITDA
11.3
ROE
13.4%
ROCE
12.6%
FCF Yield
1.8%
Debt/Equity
0.3
MoS
-459.2%
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: 07 Nov 2026
v4.3-runtime-valuation
Final score
32
Previous: 33 (-1)
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-459.2%
Previous: -417.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
07 Nov 2026
v4.3-runtime-valuation
34
34
34
34
34
34
34
34
33
33
33
33
Factor attribution
Valuation
4-1
was 5
Modelled fair value
Graham Number
₹527.12
-83.1% MoS
Growth-justified P/E
4.0
Growth-justified Value
₹172.63
-459.2% 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 164
43
88.5
23.3%
-99%
WATCHLIST
ALIVUS
Large
Alivus Life Sciences Limited
Pharmaceuticals
match 161
36
25.6
—
+40%
WATCHLIST
PFIZER
Large
Pfizer Limited
Pharmaceuticals
match 161
39
19.4
19.8%
-327%
WATCHLIST
CAPLIPOINT
Large
Caplin Point Laboratories Limited
Pharmaceuticals
match 160
59
26.6
20.9%
+40%
FAIR VALUE
BLISSGVS
Small
Bliss GVS Pharma Limited
Pharmaceuticals
match 159
41
42.4
11.8%
+10%
WATCHLIST
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 2026-11-04T10:10:24.552Z
Management commentary snapshot
Q2 FY27 revenue grew 36% YoY to INR 26.03 bn, driven by a 77% surge in the US business and strong broad-based double-digit growth across all segments, with EBITDA margin expanding 520 bps YoY to 22%.
Management is successfully executing across multiple geographies, led by an exceptional 77% YoY surge in the US business and 14% growth in the domestic branded portfolio. Margin profile has materially improved due to base portfolio optimization and operating leverage, though continued execution in complex US generics and specialty drug pipelines remains key.
Current business mix
Revenue by business segment Q2 FY27
Latest issuer-disclosed distribution across 4 reported categories.
US Formulation39.0%
India Branded Business28.0%
Ex-US Formulation17.0%
API16.0%
Growth engines
US Generics and Specialty Expansion
ActiveUS business delivered a 77% YoY revenue growth supported by 10 new product launches in H1 FY27 and commercial traction in Alembic Therapeutics.
India Specialty Portfolio Outperformance
ActiveIndia Branded human health specialty portfolio grew ~17% YoY, outperforming the market and narrowing the growth gap vs market.
Animal Health Segment Momentum
ActiveAnimal Health business sustained momentum with 23% YoY growth to INR 1.69 bn in Q2 FY27.
Capacity and execution
Indore Facility Commissioning
CompletedIndore facility was commissioned and received WHO-GMP certification in April 2026 for oral solids and liquids.
Tailwinds
Strong Chronic Portfolio Momentum in India
FavorableGrowth in specialty portfolio (~17%) and prescription volume increase to 137.6 million prescriptions (MAT Sep 2026).
Healthy Customer Demand in API
FavorableVolume-led growth in the API business underpinned by healthy customer demand globally.
Risk radar
Regulatory and Compliance Risks
MonitoredSubject to strict USFDA and global regulatory audits, manufacturing risks, and potential inspection observations across multiple facilities.
Pricing Pressure in Regulated Markets
MonitoredInherent risks associated with generic price erosion and managed care cost containment in the US and international markets.
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
Year-over-year comparison is most appropriate given the comprehensive financial metrics, quarterly trend reviews, and annual seasonality patterns typically evaluated in pharmaceutical operations.
Sector KPIs management disclosed
Domestic Formulations Growth
PositiveIndia Branded Business grew 14% YoY to INR 7.25 bn in Q2 FY27.
US / Export Growth
PositiveUS Formulation revenue grew 77% YoY to INR 10.03 bn; Ex-US Formulation grew 12% YoY to INR 4.40 bn.
Launch Pipeline & Approvals
Positive10 products launched in H1 FY27 in the US with cumulative 245 approvals and 188 products commercialized.
R&D Spend
StableR&D spend stood at 8% of revenue in Q2 FY27, amounting to INR 2.07 bn (INR 4.07 bn in H1 FY27).
Management forward view
Focus on Complex Platforms and Specialty
OngoingSharper focus on ramping up presence in complex platforms and specialty segments in the US alongside building a specialty drug pipeline for India.
Cost Efficiency Initiatives
OngoingContinued focus on cost efficiency in the API business and across operations to remain competitive.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| USANDA Filings and Approvals | 283 ANDA filings and 245 approvals cumulative as of Sep 30, 2026 | Continuation of filing momentum and regulatory approval conversion rates |
| EBITDA Margin Sustainability | 22% in Q2 FY27 | Ability to sustain margin expansion amidst rising employee and other operational expenses |
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 89th 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
89th percentile
overall median 67 · Pharma: 83rd pctile, median 70 · Mid: 72nd pctile, median 75
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)-Newspaper Publication 28 Oct
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Oct - Alembic receives USFDA final approval for Ciprofloxacin-Dexamethasone Otic Suspension; estimated US market size $110 million.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Oct - Please find attached herewith the copy of Newspaper Publication.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 27 Aug
Source: Bse
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
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 1 Jul - CRISIL reaffirmed AA+/Stable on ₹1,100 crore bank loans and A1+ on ₹1,100 crore commercial paper.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 26 Jun - Alembic received USFDA final approval for Oseltamivir oral suspension 6 mg/mL; estimated US$27 million market.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.