| P/E TTM | 23.7Sector PE 41.3 |
|---|---|
| Market Cap | ₹16,437 CrMid-range Performer |
| RSI | 51.4Neutral Zone |
| Promoter Holding | 69.87%No change QoQ |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 2,604 | 2,150 | 1,910 |
| Other Income | 15.1 | 14.9 | 6.9 |
| Total Income | 2,619 | 2,165 | 1,917 |
| Profit Before Tax | 438 | 222 | 224 |
| Net Profit | 335 | 173 | 185 |
| Operating Margin | 16.7% | 10.3% | 11.7% |
| Net Profit QoQ | +93.6% | ||
| Net Profit YoY | +81.5% | ||
| Adj. Profit QoQ | +104.3% | ||
| Adj. Profit YoY | +95.0% | ||
Key highlights
- Revenue from operations grew to ₹2,604 crore from ₹1,910 crore in the same period last year
- Consolidated net profit surged 93.6% on a sequential basis to ₹335 crore
- Operating margin expanded to 16.7% compared to 11.7% in the previous year's second quarter
- Total income for the quarter stood at ₹2,619 crore including other income of ₹15.1 crore
- P/E TTM stands at 23.7, significantly lower than the pharmaceutical sector average of 41.34
Revenue Growth and Sequential Profitability Gain
Alembic Pharmaceuticals recorded a robust 36% year-on-year growth in revenue from operations, reaching ₹2,604 crore for the quarter ended September 2026. Profitability saw an even steeper climb, with net profit jumping 81.5% from ₹185 crore in the year-ago quarter to ₹335 crore. On a quarter-on-quarter basis, the company demonstrated a 93.6% increase in bottom-line performance.
This growth is backed by a total income of ₹2,619 crore, which was further bolstered by other income rising to ₹15.1 crore from ₹6.9 crore in the corresponding period of the previous year. The company's core operations drove a profit before tax of ₹438 crore.
Cost Structures and Margin Improvement
- Operating margins expanded to 16.7% from 11.7% year-on-year, reflecting improved efficiency
- Cost of materials consumed for the quarter stood at ₹600 crore
- Employee benefits expense was managed at ₹504 crore, representing roughly 19.3% of revenue
- Depreciation and amortization expenses increased to ₹101 crore from ₹76 crore in Q2-26
- Other expenses for the period rose to ₹851 crore as operations scaled up
- The company reported a standalone net profit of ₹409 crore for the same period
Regulatory Milestones and Product Approvals
The company's expansion in highly regulated markets remains a key growth lever. In late October 2026, Alembic received final approval from the USFDA for Valganciclovir for Oral Solution, used in the treatment of cytomegalovirus retinitis. This milestone took the company's cumulative USFDA approval count to 247, consisting of 227 final and 20 tentative approvals.
These developments align with earlier management guidance targeting an EBITDA margin of 18–20% and a planned capital expenditure of ₹400 crore to strengthen manufacturing and R&D capabilities. The stock current trades at a P/E of 23.7, reflecting a valuation lower than the broader industry peers.
Segmental Reporting
The Company is engaged In Pharmaceuticals business only and therefore, there is only one reportable segment.
| Date | Announcement | Amount |
|---|---|---|
| 04 Aug 2026 | Q1 FY27 Consolidated Revenue from OperationsSource: lemonn.co.in | ₹2,149.77 Cr |
| 15 May 2026 | Q4 FY26 Consolidated Revenue from OperationsSource: sahi.com | ₹1,847.72 Cr |
| 04 Nov 2025 | Q2 FY26 Consolidated Revenue from OperationsSource: hdfcsky.com | ₹1,910.15 Cr |
| 05 Aug 2025 | Q1 FY26 Consolidated Revenue from OperationsSource: swcapital.in | ₹1,710.72 Cr |
| 06 May 2025 | Q4 FY25 Consolidated Revenue from OperationsSource: dbonline.in | ₹1,769.64 Cr |
What to watch next
- Commercialization of Valganciclovir for Oral Solution in the US market following October approval
- Utilization of the ₹400 crore planned capital expenditure for facility upgrades
- Third-quarter results announcement expected in early February 2027
| Share price | ₹836.2 |
|---|---|
| Market capitalisation | ₹16,436.61 Cr |
| Revenue (annual) | ₹7,344.90 Cr |
| Net profit (annual) | ₹674.77 Cr |
| Revenue (latest quarter) | ₹2,149.77 Cr+16.35% vs previous quarter |
| Net profit (latest quarter) | ₹173.07 Cr-14.62% vs previous quarter |
| P/E (TTM) | 23.7×Sector 41.34× |
| Promoter holding | 69.87%0.00% QoQ |
| FII holding | 4.55%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Alembic Pharmaceuticals Limited announcing unaudited consolidated and standalone financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
