Alembic Pharmaceuticals: Revenues Outperform on shortage of Valsartan and Strong performance in non-regulated markets.
Revenues Outperform on shortage of Valsartan and Strong performance in non-regulated markets: In Q2FY19, total revenues of Alembic Pharma increased by 43% YoY to Rs 11.3bn (above our estimates Rs 9.7 bn). The Company's operating margins increased from 22.7% to 26.8% YoY (our estimates 19.3%). Its net profit increased by 65% YoY to Rs 2001 mn in Q2FY18 vis--vis our estimates of Rs 1225 mn.