Alembic Pharmaceuticals Ltd Research Report - 31st Jan 2017

Pharmaceutical | Published on Jan 31st 2017


Alembic Pharma posted lower than expected numbers for 3QFY2017. In sales, the company posted revenues of Rs770cr (Rs872cr expected) v/s Rs921cr in 3QFY2016, dip of 16.4% yoy. The dip in sales was mainly on the back of the International sales, which came in at Rs303cr v/s Rs521cr in 3QFY2016, a dip of 41.8%. The Indian branded sales came in at Rs294cr v/s Rs288cr, a yoy growth of 2.1%. On EBITDA front, the company posted an EBITDA of 18.8% (20.6% expected) v/s 41.7% in 3QFY2016. Consequently, PAT came in at Rs87cr (lower than expectations) v/s Rs270cr in 3QFY2016, de-growth of 67.8% yoy. We maintain our Neutral rating.

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CMP 575
Target Price
Investment Period12 Months

Stock Info

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Shareholding Pattern (%)

Public & Others12.0
Grand Total100.0

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