Alembic
Alembic
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Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.10 times its book value
- Company has been maintaining a healthy dividend payout of 20.7%
Weaknesses
2- Company has a low return on equity of 13.1% over last 3 years.
- Earnings include an other income of Rs.75.3 Cr.
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 37 | 32 | 39 | 49 | 51 | 53 | 58 | 60 | 50 | 56 | 74 | 60 | 49 |
| Expenses | 26 | 22 | 28 | 25 | 30 | 33 | 32 | 33 | 30 | 33 | 47 | 40 | 33 |
| Operating Profit | 11 | 10 | 12 | 24 | 20 | 20 | 26 | 27 | 20 | 23 | 27 | 20 | 15 |
| OPM % | 30% | 31% | 30% | 49% | 40% | 37% | 46% | 45% | 39% | 42% | 37% | 34% | 32% |
| Other Income | 3 | 48 | 2 | 2 | 2 | 66 | 4 | 3 | 4 | 65 | 2 | 2 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 3 | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| PBT | 12 | 56 | 11 | 24 | 19 | 82 | 27 | 27 | 20 | 85 | 26 | 18 | 17 |
| Tax % | 14% | 8% | 9% | 12% | 10% | 6% | 5% | 12% | 10% | 10% | 13% | 48% | 9% |
| Net Profit | 44 | 91 | 61 | 72 | 56 | 121 | 65 | 68 | 62 | 128 | 60 | 67 | 65 |
| EPS in Rs | 1.73 | 3.53 | 2.39 | 2.81 | 2.17 | 4.71 | 2.55 | 2.67 | 2.4 | 5 | 2.34 | 2.61 | 2.53 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 144 | 134 | 147 | 125 | 124 | 74 | 74 | 78 | 127 | 157 | 222 | 240 | 239 |
| Expenses | 134 | 128 | 140 | 114 | 106 | 71 | 62 | 64 | 87 | 101 | 128 | 150 | 153 |
| Operating Profit | 10 | 6 | 7 | 11 | 18 | 3 | 11 | 14 | 40 | 57 | 94 | 90 | 86 |
| OPM % | 7% | 4.6% | 4.6% | 9% | 15% | 4.4% | 15% | 18% | 32% | 36% | 42% | 38% | 36% |
| Other Income | 21 | 25 | 25 | 37 | 29 | 93 | 10 | 89 | 54 | 55 | 75 | 73 | 75 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 |
| Depreciation | 6 | 6 | 5 | 4 | 3 | 3 | 4 | 5 | 7 | 8 | 11 | 12 | 13 |
| PBT | 23 | 25 | 27 | 44 | 45 | 93 | 17 | 98 | 87 | 103 | 156 | 149 | 146 |
| Tax % | -3% | 2% | -3% | 5% | 8% | 0% | 19% | 12% | 7% | 10% | 7% | 15% | — |
| Net Profit | 107 | 235 | 145 | 163 | 213 | 329 | 343 | 222 | 191 | 269 | 311 | 317 | 321 |
| EPS in Rs | 3.99 | 8.78 | 5.45 | 6.1 | 8.3 | 12.82 | 13.35 | 8.65 | 7.42 | 10.46 | 12.1 | 12.36 | 12.48 |
| Div. Payout % | 4% | 2% | 4% | 3% | 2% | 5% | 2% | 21% | 30% | 23% | 20% | 19% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 53 | 53 | 53 | 53 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 |
| Reserves | 474 | 750 | 858 | 1,032 | 1,157 | 1,367 | 2,246 | 2,445 | 2,027 | 2,134 | 2,287 | 2,394 |
| Borrowings | 0 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 14 | 11 |
| Other Liabilities | 91 | 64 | 81 | 73 | 57 | 53 | 112 | 135 | 127 | 134 | 150 | 134 |
| Total Liabilities | 619 | 875 | 992 | 1,159 | 1,266 | 1,471 | 2,409 | 2,632 | 2,205 | 2,329 | 2,503 | 2,590 |
| Fixed Assets | 169 | 146 | 171 | 179 | 209 | 225 | 265 | 297 | 321 | 369 | 409 | 472 |
| CWIP | 2 | 0 | 0 | 0 | 0 | 3 | 6 | 0 | 0 | 1 | 0 | 2 |
| Investments | 299 | 605 | 732 | 913 | 1,001 | 1,133 | 2,047 | 2,208 | 1,754 | 1,786 | 1,900 | 1,974 |
| Other Assets | 149 | 124 | 89 | 67 | 55 | 110 | 91 | 127 | 130 | 173 | 194 | 142 |
| Total Assets | 619 | 875 | 992 | 1,159 | 1,266 | 1,471 | 2,409 | 2,632 | 2,205 | 2,329 | 2,503 | 2,590 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 22 | 10 | 52 | 24 | 22 | 7 | -2 | -18 | 39 | 23 | 86 | 120 |
| Investing | 5 | -5 | -47 | -22 | 68 | 57 | -35 | 19 | 7 | 26 | -27 | -54 |
| Financing | -25 | -5 | -5 | -3 | -89 | -6 | -15 | -6 | -46 | -48 | -58 | -68 |
| Net Cash Flow | 2 | 0 | 0 | -1 | 1 | 57 | -52 | -5 | 0 | 0 | 1 | -1 |
| Free Cash Flow | 22 | 11 | 38 | 14 | -1 | -15 | -49 | -51 | 14 | -33 | 36 | 43 |
| CFO/OP | 222 | 172 | 771 | 245 | 145 | 246 | 0 | -63 | 112 | 39 | 109 | 154 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 122 | 76 | 54 | 74 | 40 | 44 | 69 | 71 | 67 | 46 | 49 | 49 |
| Inventory Days | 880 | 659 | 438 | 247 | 289 | 411 | 2,112 | 2,885 | — | 3,694 | — | 1,161 |
| Days Payable | 200 | 144 | 128 | 125 | 202 | 151 | 693 | 640 | — | 1,237 | — | 530 |
| Cash Conversion Cycle | 801 | 591 | 364 | 195 | 126 | 305 | 1,488 | 2,316 | 67 | 2,502 | 49 | 679 |
| Working Capital Days | 235 | 172 | 39 | 20 | 13 | 22 | 97 | 223 | 118 | 77 | 57 | -6 |
| ROCE % | — | 4% | 4% | 4% | 4% | 7% | 1% | 4% | 4% | 5% | 7% | 6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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61 extracted metrics + investor summaries across FY12–FY26.
Documents
Frequently Asked Questions about Alembic
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Company Information
Alembic Limited is engaged in the businesses of Pharmaceuticals, Real Estate, and Power Assets. The company was started in 1907 as the flagship company of the Alembic Group. In 2010, the company demerged its core pharmaceutical business (formulations) into a wholly-owned subsidiary, Alembic Pharma Ltd and after the demerger, APL became the flagship company of the Alembic Group. With its registered office in Vadodra, Alembic Ltd currently holds a 28.41% stake in Alembic Pharma Ltd and a 19.01% stake in another group entity Paushak Limited.[1]
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