ALKEMs flourishing Indian acute business (65% of rev.) and growing US segment (24% CAGR) provide a strong foundation for another compounding story to unfold from Indian generics. In India, ALKEM has 15 acute brands in top 300 and is the 4th fastest growing company in the last five years. With US revenues likely to grow at a fast clip, ALKEM?s top line (18% CAGR) and profitability improvement ( 280bps) will drive 24% EPS CAGR over FY16-19E.