KIRA Research · Pharma · Pharmaceuticals (India formulations + US)
Alkem Laboratories Limited
Research: READYConfidence: HIGHKIRA Score: Not yet scoredMidFigures: INR crore; basis shown per row
KIRA view
Solid domestic franchise with US optionality; Q4 exceptionals handled as extraordinary items (validated). Major strength: India franchise. Major risk: pricing regulation. ANALYSIS
Pillar 1 — Business Quality & Moat
Revenue drivers
- Domestic branded/trade generics ANALYSIS
- US ANDA portfolio ANALYSIS
Competitive position — peers
- Sun Pharma (domestic) ANALYSIS
- Cipla ANALYSIS
- Mankind ANALYSIS
- Torrent Pharma ANALYSIS
Pillar 2 — Growth Quality
| Metric | Period | Value | Basis | Provenance | Source |
|---|---|---|---|---|---|
| Revenue | FY26 | ₹14,712.3 cr | Consol. | SOURCED | S12, S10 |
| Revenue growth (YoY) | FY26 | 13.5% | Consol. | SOURCED | S12, S10 |
| EBITDA | FY26 | ₹3,005.2 cr | Consol. | SOURCED | S12 |
| Net profit (PAT) | FY26 | ₹2,301.8 cr | Consol. | SOURCED | S12 |
| PAT growth (YoY) | FY26 | 6.3% | Consol. | SOURCED | S12 |
| PAT growth (YoY) | Q4FY26 | -22.7% | Consol. | SOURCED | S12 |
| Revenue | Q4FY26 | ₹3,603.3 cr | Consol. | SOURCED | S10 |
| PBT after exceptional | FY26 | ₹2,870.9 cr | Consol. | SOURCED | S10 |
| india sales | FY26 | ₹9,851.4 cr | Consol. | SOURCED | S10 |
Notes
- Q4FY26 exceptional items: ₹60.27 crore incremental gratuity liability under the new labour codes and ₹74.7 crore impairment of real-estate investments (S10). SOURCED S10
Growth drivers
- India formulations +9.7% ANALYSIS
- US growth +20.3% ANALYSIS
- Trade-generics leadership ANALYSIS
Recent developments
- 1 Jun 2026 — Q4/FY26 earnings call transcript filed with exchanges; FY26 revenue ₹14,712.3 crore (+13.5%), PBT after exceptional items ₹2,870.9 crore (S10). SOURCED S10
Pillar 3 — Profitability & Return Ratios
| Metric | Period | Value | Basis | Provenance | Source |
|---|---|---|---|---|---|
| EBITDA margin | FY26 | 20.4% | Consol. | SOURCED | S12, S10 |
Pillar 4 — Balance Sheet Strength
Notes
- note: Detail from AR pending ANALYSIS
Pillar 5 — Cash Flow & Earnings Quality
Notes
- note: Detail pending ANALYSIS
Pillar 6 — Governance & Shareholding
NOT VERIFIED — no verified data for this pillar yet.
Pillar 7 — Valuation Comfort
NOT VERIFIED — no verified data for this pillar yet.
Pillar 8 — Technical Confirmation
No sourced technical data. This pillar is informational only and never carries entry levels, targets, stop-losses or buy/sell/hold calls.
Material risks
- Domestic price regulation (NLEM) ANALYSIS
- US ANDA competition ANALYSIS
- Exceptional-item recurrence watch ANALYSIS
Key questions to monitor
None recorded yet.
Sources
| ID | Document | Publisher | Type | Date | Authority |
|---|---|---|---|---|---|
| S10 | Q4 & FY26 earnings call transcript — intimation to BSE/NSE dated 01-Jun-2026 | Alkem Laboratories Limited | earnings call transcript (exchange filing) | 2026-06-01 | PRIMARY |
| S11 | EQUITY_L.csv — securities available for equity segment (row ALKEM, INE540L01014) | National Stock Exchange of India | exchange master list | 2026-09-28 | PRIMARY |
| S12 | Q4 & FY26 Results Press Release and Results Presentation | Alkem Laboratories Limited | results press release and presentation | 2026-05-28 | PRIMARY |
Research status
- Status
- READY
- Confidence
- HIGH
- Data as of
- 2026-09-26
- KIRA Score
- Not yet scored — no verified KIRA Score registry match
- Method
- Primary filings first; aggregators for cross-check only. SOURCED = from a cited document; ANALYSIS = KIRA interpretation; UNVERIFIED = not yet checked against a primary source.
- Withheld
- 7 item(s) not yet verified are not shown.
Data conflicts
- Resolved · financials.EBITDA.FY26
Concall transcript (S10) prints FY26 EBITDA 'INR3,052 million'; Kimi 3,005.
S10, S12