Alembic Pharmaceuticals Ltd(APLLTD)

NSE: APLLTDBSE: 533573

₹ 766.65+1.04%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 15,070 crWebsite: www.alembicpharmaceuticals.comUpdated: 24 Oct 2026

About

Alembic Pharmaceuticals is an Indian pharmaceutical company operating across branded generics in India, US generics, ex-US generics, and active pharmaceutical ingredients (API). In FY26 the company reported consolidated revenue of Rs 7,344.9 crores. Its India branded business ranks 21st in the Indian Pharmaceutical Market with a 1.2% market share.^[1]

Business segments

FY25 revenue: Formulations Rs 5,539.20 Cr (vs Rs 4,982.41 Cr in FY24) and API Rs 1,132.88 Cr (vs Rs 1,246.22 Cr in FY24).^[2]
FY25 formulations split: India Branded Rs 2,339.25 Cr (vs Rs 2,200.26 Cr in FY24); International Rs 3,199.95 Cr (vs Rs 2,782.15 Cr).^[2]
India Branded Business grew 7% YoY to INR 6.42 billion in Q1 FY27; includes specialties and animal health, which grew 24% in Q1 FY27.^[3]
US Generics grew 49% YoY in INR terms in Q1 FY27, driven by 180-day exclusivity on Bosutinib; ex-Bosutinib growth was approximately 25%.^[3]
Ex-US Generics grew 17% YoY to INR 3.83 billion in Q1 FY27.^[3]
API business grew 33% YoY to INR 3.46 billion in Q1 FY27, volume-led despite pricing pressure; grew 5% for full-year FY26.^[3]
US Branded (Alembic Therapeutics): Pivya launched February 2026; breakeven targeted by end of FY27.^[3]

Products and portfolio

Pivya is a first-line oral antibiotic for uncomplicated urinary tract infections in women; two additional women's health products (including Nuvessa) added to the US franchise in Q1 FY27.^[3]
Animal health is a market leader in haematinics and antibiotics in India; 27% growth in Q4 FY26.^[4]
Peptide pipeline of approximately 5 - 6 molecules, 2 filed with the USFDA as of Q4 FY26.^[4]
India branded portfolio covers gynecology, gastrology and ophthalmology, alongside acute and anti-diabetic segments.^[4]

ANDA, DMF and R&D

Cumulative ANDA filings stood at 279 with 244 cumulative approvals as of Q1 FY27; 4 filings and 10 approvals in Q1 FY27.^[3]
7 US products launched in Q1 FY27; 15+ more US launches planned for the remaining 9 months of FY27.^[3]
Cumulative DMF filings reached 149 as of Q4 FY26; 3 US DMFs filed in Q1 FY27.^[4]
R&D was 9% of revenue in Q1 FY27; FY27 R&D budget guided at INR 750 - 800 crores.^[3]

Manufacturing and USFDA status

F3 Karkhadi facility received an Establishment Inspection Report on 13 May 2026.^[3]
Pithampur formulation plant was commissioned on 26 April 2025.^[2]
F3 ophthalmic line at full capacity as of Q4 FY26 with expansion underway; other F3 lines at approximately 40 - 60% utilisation.^[4]
Injectable and oncology plants ran below anticipated utilisation as of Q2 FY26; OSD and API plants at optimal utilisation.^[5]
A peptide API block was scheduled to start operations in FY26, per the FY25 annual report.^[2]

Customers and distribution

India branded business ranks 21st in the Indian Pharmaceutical Market with a 1.2% market share as of FY26.^[4]
Ex-US generics growth in Q3 FY26 led by Australia (+65%), Canada (+32%) and Europe & ROW (+28%).^[6]
Subsidiaries in Thailand, the Philippines and Germany; a Canada joint venture set up and a Saudi Arabia joint venture underway as of Q1 FY27.^[3]

Expansion and capex

FY27 capex guided at INR 300 - 350 crores, mainly maintenance, debottlenecking and replacement; major capex cycle stated as complete.^[4]
US women's health franchise being expanded beyond Pivya via in-licensed products.^[3]

Recent developments

Subsidiary Alembic Global Holding SA incorporated Alvesta Pharmaceuticals FZCO in Dubai on 1 September 2026, 100% owned, subscribing AED 100,000.^[7]
Bosutinib (100mg and 500mg) launched in the US in June 2026 under 180-day exclusivity.^[3]
Chirayu Amin to step down as CEO and continue as Executive Chairman from 1 April 2026.^[2]
Ramesh Juneja appointed Sales and Marketing Head for the India branded business in FY27.^[3]
Utility Therapeutics acquired in Q2 FY26 for about $4 million upfront plus up to $12 million in milestones, giving US marketing exclusivity for Pivya.^[5]

Market Cap

₹15,070 Cr

High / Low

₹998 / 635

Stock P/E

21.5

Price / Book

2.6

Book Value

₹289

EPS

₹34.3

No. of Shares

19.66 Cr

ROCE

12.7%

ROE

12.4%

OPM

11.6%

Debt / Equity

0.24

Sales

₹7,345 Cr

Net Profit

₹671 Cr

Promoter holding

69.9%

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