Alembic Pharma shares fall by 9%
Alembic Pharmaceuticals share price today
Shares of Gujarat-based pharmaceutical company Alembic Pharma fell over 9 per cent to an intraday low of ₹710.70 on the National Stock Exchange (NSE) after it reported lower-than-expected numbers for the March 2026 quarter (Q4FY26).
Around 02:45 pm, the stock was trading at ₹720, down 8.15 per cent from the previous session’s closing level of ₹784.10. In comparison, the benchmark NSE Nifty 50 was trading at 23,593.20, down 50.30 points or 0.21 per cent.
On a year-to-date (YTD) basis, the stock has declined marginally by about 7 per cent, compared to a 9.5 per cent decline in the Nifty 50. The market capitalization of Alembic Pharma stood at ₹14,142. Its 52-week high was ₹1,107.90, and its 52-week low was ₹635.80.
Alembic Pharma Q4 results highlights
In the March 2026 quarter, Alembic Pharmaceuticals reported 29 per cent year-on-year growth in consolidated net profit at ₹202 crore compared to ₹157 crore in the year-ago period.
Revenue for the quarter rose 4.4 per cent to ₹1,848 crore, compared with ₹1,770 crore in the year-ago period.
The company’s earnings before interest, taxes, depreciation and amortization (Ebitda) declined 16.2 per cent year-on-year to ₹228 crore from ₹272 crore. Ebitda margin declined to ₹12.3 per cent from ₹15.4 per cent in Q4FY25.
Its India-branded business grew 4 per cent year-on-year to ₹568 crore during the quarter. The company’s gynecology, gastrology, ophthalmology and animal healthcare segments witnessed encouraging performance. It launched two new products in the domestic market during the quarter.
Alembic’s international business grew 11 per cent year-on-year to ₹564 crore, led by the US formulations segment. During the quarter under review, the company launched six products in the US market. Revenue from pre-US generics business stood at ₹369 crore, while the company received four ANDA approvals during the quarter.
Its API business during the quarter registered 2 per cent year-on-year growth to ₹347 crore.
The company’s board of directors also recommended a final dividend of ₹12 on each equity share of face value ₹2 to the shareholders.
MOFSL on Alembic Pharmaceuticals
According to Motilal Oswal Financial Services (MOFSL), Alembic Pharmaceuticals posted weaker-than-expected results in Q4FY26, with revenue, Ebitda and PAT falling 2 per cent, 29 per cent and 43 per cent below estimates, respectively. The brokerage attributed the weak performance to weak traction in acute therapies within the domestic formulations business, slower growth in non-US markets and increased R&D expenses during the quarter.
It said the company’s US business recorded a marginal growth of 7 per cent year-on-year in FY26 in constant currency terms despite a good pace of product launches. Acute therapies remained largely stable for the fourth consecutive year, while the specialty segment faced pressure through FY26. On the other hand, animal health and non-US businesses maintained strong growth momentum, partially offsetting weakness in other areas.
MOFSL also said that the company is focusing on growing the business of its branded products in the US market. However, given the recent launch, it awaits further clarity on increasing and expanding the doctor’s reach.
The brokerage has cut its FY27 and FY28 earnings estimates by 12 per cent and 6 per cent, respectively, citing slow growth in branded generics, higher product development expenses and weak operating leverage in the domestic formulations segment. It values the stock at 14x 12-month forward earnings and has a target price of ₹725 while maintaining a ‘neutral’ rating.
It expects Ebitda and PAT to achieve CAGR of 21 per cent and 26 per cent respectively during FY26-28, supported by massive growth in US business, increased product launches, growth in branded products in the US and continued momentum in non-US and API segments. However, he believes current valuations already factor in considerable potential upside. ========================
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