Alembic Pharmaceuticals Limited – Q4 FY26 Results

key financial highlights

• Revenue from Operations:
  • Revenue (Q4 FY26): ₹1,847.72 Crores
    • QoQ Change: -1.52%
    • YoY Change: +4.41%
  • Previous Quarter (Q3 FY26): ₹1,876.31 Crores
  • Previous Year (Q4 FY25): ₹1,769.64 Crores
• Profit After Tax (PAT):
  • PAT (Q4 FY26): ₹202.70 Crores
    • QoQ Change: +52.45%
    • YoY Change:+29.19%
  • Previous Quarter (Q3 FY26): ₹132.97 Crores
  • Previous Year (Q4 FY25): ₹156.89 Crores
• QoQ Performance:
  • Revenue Trend: Revenue remained largely stable sequentially with marginal decline.
    
  • Profit Trend: Net profit improved significantly QoQ driven by operational recovery and lower exceptional drag.

Margin Analysis

Drivers:

• Higher employee benefit expenses impacted margins.
• Other operating expenses remained elevated.
• Inventory movement supported operational efficiency.
• Finance costs remained under control.
• Exceptional item losses impacted profitability.

Insight:

• The company demonstrated resilient profitability despite ongoing margin pressures in the pharmaceutical sector.

Earning quality check

Key Drivers:

• Operating cash flow improved sharply during FY26.
• Working capital management improved significantly versus last year.
• Cash generation remained healthy despite higher inventory levels.
• Finance costs remained manageable.
• Core operating profitability supported earnings.

Interpretations:

• Earnings quality remains healthy with profitability supported by operating cash flows and stable pharmaceutical operations.

balance sheet Analysis

• Total Assets: ₹8,762.59 Crores
• Total Liabilities: ₹3,093.61 Crores

Insight:

• The company maintained a strong balance sheet with healthy equity base, manageable borrowings, and improved cash position during FY26.

key risks

• Pricing pressure in US generics market.
• Regulatory compliance risks.
• Margin pressure from raw material costs.
• Currency fluctuation risks.
• Competition in domestic formulations.
• Elevated operating expenditure.

management strategy signals

Focus Area:

• Expansion in specialty and regulated markets.
• Product pipeline enhancement.
• Improving operational efficiencies.
• Strengthening domestic branded portfolio.
• Controlled capex and R&D investments.

Financial metrics table

Quarterly Performance Context