Angel Broking neutral on Alembic Pharma

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26 Aug, 2025 12:21

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Angel Broking`s research report on Alembic Pharma“Alembic Pharmaceuticals has announced its 1QFY2015 results, which are mostly in line with our expectations. For the quarter, the company posted sales of Rs492cr (V/s an expected Rs506cr), ie a yoy growth of 15.6%. Domestic sales stood at Rs278cr, posting a yoy growth of 15.4%, while exports grew by 16.1% yoy. On the operating front, the OPM came in at 19.5% (V/s an expected18.5%) V/s 16.7% in 1QFY2014, ie an expansion of 280bp yoy. The expansion in the OPM was on the back of an expansion in GPM, which came in at 64.0% V/s 59.5% in 1QFY2014. Thus, the PAT came in at Rs64.6cr (V/s an expected Rs65.4cr), registering a yoy growth of 38.6%. We remain Neutral on the stock.” “For the quarter, the company posted sales of Rs492cr (V/s an expected Rs506cr), ie a yoy growth of 15.6%. Domestic sales stood at Rs278cr, posting a yoy growth of 15.4%, while exports grew by 16.1% yoy. On the operating front, the OPM came in at 19.5% (V/s an expected18.5%) V/s 16.7% in 1QFY2014, ie an expansion of 280bp yoy. The expansion in the OPM was on the back of an expansion in GPM, which came in at 64.0% V/s 59.5% in 1QFY2014. Thus, the PAT came in at Rs64.6cr (V/s an expected Rs65.4cr), registering a yoy growth of 38.6%. Alembic Pharmaceuticals’ growth and profitability profile has improved post the restructuring carried out by the Management. Over FY2014-16, we expect the company to post a CAGR of 16.1% and 18.3% in sales and net profit, respectively. We recommend a Neutral rating on the stock,” says Angel Broking research report.   

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