Alembic Pharmaceuticals Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for APLLTD, BSE:533573 Alembic Pharmaceuticals Ltd.

Alembic Pharmaceuticals Ltd.

24 Oct 2018

959.00

0.17%

Alembic Pharmaceuticals: Revenues Outperform on shortage of Valsartan and Strong performance in non-regulated markets.

Hold: Alembic Pharmaceuticals Ltd.

Recommendation Target

Karvy

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.

Alembic Pharmaceuticals Ltd. is trading below its 50 day SMA of 973.6

Alembic Pharmaceuticals Ltd.

23 Oct 2018

959.00

0.17%

Alembic Pharma (2QFY19): In investment mode. Maintain NEUTRAL

Neutral: Alembic Pharmaceuticals Ltd.

Target

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 its 200 day SMA of 949.1

Alembic Pharmaceuticals Ltd.

23 Oct 2018

959.00

0.17%

Alembic Pharmaceuticals

Hold: Alembic Pharmaceuticals Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Alembic Pharma's Q2FY19 results were way above expectations on all front mainly due to one-off Valsartan (cardiovascular) opportunity in the US and 133% growth in the ex-US business to | 168 crore. This new ex-US base is likely to be sustainable, as per the management. Even ex one-off, US business grew 20%+ led by volume growth and price hike in select products Domestic formulations were flat owing to high base of re-stocking...

Alembic Pharmaceuticals Ltd. is trading below its 50 day SMA of 973.6

Alembic Pharmaceuticals Ltd.

22 Oct 2018

959.00

0.17%

One-time US sales drive better-than-expected performance

Neutral: Alembic Pharmaceuticals Ltd.

Target

Motilal Oswal

22 October 2018 2QFY19, primarily led by US business. Gross margin expanded 290bp YoY (+550bp QoQ) on account of a superior product mix. EBITDA margin expanded ~410bp YoY to 26.8%, primarily due to a higher gross margin and lower employee expenses (-400bp as % of sales), partially offset by higher INR1.6b), mainly led by strong revenue growth and margin expansion. Interest expense stood at INR58m v/s INR4m in the year-ago period. PAT sales/EBITDA/PAT grew 38%/62%/54% YoY to INR19.9b/ INR4.5b/INR2.9b. We expect 2HFY19 to be relatively soft as the base effect comes into play. International sales (52% of overall sales) grew robustly by ~124% YoY to INR5.9b, led by both non-US (+133% YoY) and US (+121% YoY, led one-time sales of Valsartan due to shortage) segments. API business grew ~9% YoY to INR1.6b.

Alembic Pharmaceutic.. has an average target of 1001.00 from 4 brokers.

Alembic Pharmaceuticals Ltd.

30 Jul 2018

959.00

0.17%

Result Review of Alembic Pharmaceuticals

Accumulate: Alembic Pharmaceuticals Ltd.

Target

IDBI Capital

Alembic Pharma's (Alembic) Q1FY19 results were below our expectation. Though, Revenue were in-line with our estimates (driven by strong growth in India (up 40.1% YoY) and Non-US (up 78.7% YoY), EBITDA margin slipped from 20.3% in Q4FY18 to 17.5% in the Q1FY19 given the increased expenses. EBITDA at Rs1.5bn was up 48.8% YoY however, down 12.8% QoQ. PAT was at Rs905mn (up 35.6% YoY; 27.1% below our est). Given higher operating costs post commissioning of new facilities, we have revised...

Alembic Pharmaceuticals Ltd. is trading below its 50 day SMA of 973.6

Alembic Pharmaceuticals Ltd.

30 Jul 2018

959.00

0.17%

Alembic Pharmaceuticals

Hold: Alembic Pharmaceuticals Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Revenues grew 33% YoY to | 863 crore (I-direct estimate: | 817 crore) on account of 40% YoY growth in domestic formulations to | 331 crore (I-direct estimate: | 327 crore), up 79% YoY in international (ex-US) business to | 126 crore (I-direct estimate: | 69 crore) and 38.5% YoY growth in API segment to | 180 crore EBITDA margins improved 186 bps YoY to 17.5% but came in lowerthan I-direct estimate of 20.0% mainly due higher other expenditure. EBITDA grew 48.8% YoY to | 151 crore...

Alembic Pharmaceuticals Ltd. is trading above its 200 day SMA of 949.1

Alembic Pharmaceuticals Ltd.

30 Jul 2018

959.00

0.17%

Alembic Pharmaceuticals: Margins Falter despite strong reven...

Sell: Alembic Pharmaceuticals Ltd.

Recommendation Target

Karvy

Margins Falter despite strong revenue growth: In Q1FY19, total revenues of Alembic Pharma increased by 33% YoY to Rs 8.6 bn (above our estimates Rs 8.0 bn). The Company's operating marginsincreased from 15.7% to 17.5% YoY (our estimates 20%).

Number of FII/FPI investors decreased from 198 to 192 in Jun 2025 qtr

Alembic Pharmaceuticals Ltd.

28 Jul 2018

959.00

0.17%

Alembic Pharma (1QFY19): Status Quo. Maintain NEUTRAL

Neutral: Alembic Pharmaceuticals Ltd.

Target

HDFC Securities

Maintain NEUTRAL with a TP of Rs 560 (18x FY20E EPS). Alembic Pharma (ALPM) reported better numbers in their 1QFY19 result with revenue at Rs 8.6bn, up 34.6%YoY on account of a favourable low base. US revenues declined sequentially even after adjusting for one-off payment received in 4QFY18. Gross margin at 70.4% increased 130bpsQoQ due to a seasonally strong quarter.

Alembic Pharmaceuticals Ltd. is trading above its 200 day SMA of 949.1

Alembic Pharmaceuticals Ltd.

28 Jul 2018

959.00

0.17%

Pick-up seen in non-US international, domestic business; low base helps

Neutral: Alembic Pharmaceuticals Ltd.

Motilal Oswal

28 July 2018 ALPMs 1QFY19 revenue increased significantly by ~33% YoY to INR8.6b (in-line), primarily driven by the non-US international and domestic businesses. Gross margin shrank 154bp YoY due to a change in product mix. However, EBITDA margin improved ~190bp YoY to 17.5% (est. of 20.9%), led by a decline in employee expense by ~530bp (as % of sales). This, however, was somewhat offset by higher other expense (+190bp). EBITDA grew ~49% YoY to INR1.5b (est. Higher depreciation and tax rate led to PAT growth of ~36% YoY to INR905m (below est.

Alembic Pharmaceuticals Ltd. is trading above its 200 day SMA of 949.1

Alembic Pharmaceuticals Ltd.

18 May 2018

959.00

0.17%

Alembic Pharmaceuticals: Gross margins under Stress

Hold: Alembic Pharmaceuticals Ltd.

Recommendation Target

Karvy

In Q4FY18, total revenues of Alembic Pharma increased by 15% YoY to Rs8.5 bn (above our estimates Rs. 8.2 bn). The Company's operating marginsincreased from 18.2% to 20.3% YoY (our estimates 22%).

Alembic Pharmaceuticals Ltd. is trading below its 50 day SMA of 973.6

Is Alembic Pharmaceuticals Ltd. worth buying?

239 Votes:

Buy 84.1%

Sell 7.95%

Hold 7.95%

RESEARCH REPORTS

Accumulate SEE REPORTS >

pdf

Hold SEE REPORTS >

pdf