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Manufactures generic APIs and formulations, exporting to the US and other regulated markets alongside domestic branded generics.
Manufactures generic APIs and formulations, exporting to the US and other regulated markets alongside domestic branded generics.
Sells generics in the US through wholesalers and pharmacy chains, where new approvals and price pressure on older products decide the direction, alongside branded drugs sold to Indian doctors and active ingredients sold to other drugmakers. It was demerged from Alembic Limited in 2010, and the Amin family still leads it.
In one line: A mid-sized Indian generics/API exporter.
Moat: narrow (regulatory licence, brand). US FDA-approved plants plus a century-old domestic brand support a dual regulated/branded business.
Headquarters: Vadodara, India · Founded: 1907 · Employees: 20,149
Size Alembic Pharmaceuticals (APLLTD.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $2.01B, the 369th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹965.15 on 6 Nov 2026.
Performance Over six months the shares gained 24.3%, against -4.8% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 19.7% over the last twelve months (peer median +7.8%); the operating margin is 12.4% (peer median 18.9%).
Valuation It trades at 24.4× forward earnings against a peer median of 21.2× (9th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.9 points below its cost of capital (13.8% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹84.8B | ₹72.2B | ₹65.5B | ₹61.2B | ₹55.7B |
| Revenue growth | — | +10% | +7% | +10% | — |
| Gross profit | ₹38.9B | ₹25.6B | ₹23.2B | ₹21.6B | ₹19.0B |
| EBITDA | ₹14.2B | ₹10.1B | ₹9.04B | ₹8.48B | ₹6.64B |
| Net income | ₹8.44B | ₹6.75B | ₹5.83B | ₹6.16B | ₹3.42B |
| Free cash flow | n/a | ₹2.61B | -₹5.49B | ₹4.30B | ₹2.32B |
| Capital expenditure | n/a | ₹4.95B | ₹5.64B | ₹3.27B | ₹4.43B |
| Total debt | ₹15.5B | ₹14.3B | ₹12.6B | ₹5.13B | ₹7.22B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Alembic Pharmaceuticals APLLTD.NS | $2.01B | +24% | +20% | 12% | 24.4× | 25.0% |
| Aurobindo Pharma AUROPHARMA.NS | $10.9B | +22% | +14% | 15% | 22.4× | 21.0% |
| Lupin LUPIN.NS | $9.65B | -19% | +24% | 24% | 20.9× | 8.8% |
| Cipla CIPLA.NS | $12.1B | +4% | -1% | 13% | 29.0× | 28.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | APLLTD.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.8% | -2.8% | 3rd highest of 21 |
| 6-month return | +24.3% | -4.8% | 6th highest of 21 |
| Distance from 52-week high | -3.3% | -28.6% | 2nd highest of 21 |
| Revenue growth (TTM) | +19.7% | +7.8% | 5th highest of 21 |
| Operating margin | 12.4% | 18.9% | 9th lowest of 21 |
| Forward P/E | 24.4× | 21.2× | 9th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 25.0% | 6.0% | 4th most demanding of 18 |
| Growth delivered (Del g) | +6.5% | +8.2% | 7th lowest of 18 |
| Hurdle (Req g minus delivered) | +18.6 pp | -3.1 pp | 5th most demanding of 18 |
| ROIC minus cost of capital | -2.9 pp | +0.4 pp | 7th lowest of 21 |
| EV / EBITDA | 14.3× | 12.4× | 5th most expensive of 10 |
| Net debt / EBITDA | 0.9× | 1.3× | 5th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Alembic Pharmaceuticals APLLTD.NS | India | $2.01B | +24% | +20% | 12% | 24.4× | 25.0% | +6.5% |
| Anhui Anke Biotechnology (Group) 300009.SZ | China | $2.01B | -9% | -9% | 30% | 19.3× | 9.1% | +9.3% |
| Grand Pharmaceutical 0512.HK | Hong Kong | $2.01B | -27% | +7% | 13% | 9.8× | 1.2% | +14.1% |
| BrightGene Bio-Medical Technology 688166.SS | China | $2.00B | -51% | +14% | 7% | 87.6× | 38.5% | +9.2% |
| Qingdao Baheal Medical 301015.SZ | China | $2.02B | +4% | -6% | 8% | 23.5× | 11.9% | +5.0% |
| United Laboratories International 3933.HK | Hong Kong | $2.00B | -19% | -13% | 5% | 14.5× | 3.7% | +7.8% |
| Henan Lingrui Pharmaceutial 600285.SS | China | $2.02B | +7% | +5% | 22% | 15.9× | -4.8% | +10.6% |
| ApicHope Pharmaceutical 300723.SZ | China | $1.99B | -28% | -28% | -50% | 25.7× | 14.0% | -11.0% |
| Prestige Consumer Healthcare PBH | United States | $2.04B | -18% | -1% | 26% | 9.3× | -0.2% | +2.9% |
| Sino Biological 301047.SZ | China | $1.98B | +50% | +20% | 17% | 63.8× | 36.8% | -15.1% |
| Jinyu Bio-Technology 600201.SS | China | $2.04B | -15% | +22% | 10% | 62.4× | 24.4% | -2.4% |
| Shilpa Medicare SHILPAMED.NS | India | $1.95B | +113% | +28% | 21% | 62.1× | n/a | n/a |
| Tibet Rhodiola Pharmaceutical 600211.SS | China | $1.95B | 0% | +13% | 27% | 13.0× | -0.5% | +16.7% |
| OneSource Specialty Pharma ONESOURCE.NS | India | $1.94B | -12% | +11% | 6% | 45.0× | n/a | n/a |
| Harmony Biosciences HRMY | United States | $1.93B | +7% | +20% | 22% | 8.6× | -10.9% | +40.3% |
| Harbin Pharmaceutical 600664.SS | China | $2.10B | +55% | +2% | 5% | 23.1× | -2.9% | +8.2% |
| Alivus Life Sciences ALIVUS.NS | India | $1.92B | +32% | +8% | 31% | 24.4× | 20.4% | +6.2% |
| Zymeworks ZYME | United States | $2.10B | +24% | -70% | -419% | 12.0× | n/a | n/a |
| Caplin Point Laboratories CAPLIPOINT.NS | India | $1.92B | +28% | +15% | 31% | 24.6× | 29.3% | +15.7% |
| Dermapharm DMP.DE | Germany | $2.11B | -25% | 0% | 22% | 14.5× | -3.8% | +8.0% |
| Shenyang Xingqi Pharmaceutical 300573.SZ | China | $1.91B | -25% | +17% | 33% | 13.7× | 6.0% | +29.1% |