1002.3000 1.60 (0.16%)
NSE Jul 07, 2025 15:31 PM
Volume: 135.2K
 

1002.30
0.16%
HDFC Securities
Maintain NEUTRAL with a TP of Rs 610 (18x SEP20E EPS). Alembic Pharma (ALPM) reported buoyant numbers with revenue at Rs 11.3bn (+43% YoY), EBITDA margin at 26.8% (+413bps YoY) and PAT jumping to Rs 2bn (+65% YoY) in 2QFY19. This was largely driven by one-off Valsartan opportunity in the US market during this quarter. Adjusting for Valsartan, we believe revenues were up 16-18% YoY with Ex-US international business growing ~114% YoY and EBITDA margin was at 17-18%, affected by increased SG&A; cost and heightened R&D; in 2QFY19.
Alembic Pharmaceuticals Ltd. is trading above all available SMAs
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