Fri. Mar 1st, 2024

Bengaluru, February 6th, 2024: Alembic Pharmaceuticals Limited reported its consolidated financial results for the third quarter and nine months period ended 31st December, 2023.

Financial Highlights

  • Net Sales grew 8% to Rs.1631 Crores for the quarter.
  • Net Profit up 48% to Rs.180 Crores from Rs.122 Crores
  • EBITDA up 14% to Rs. 269 Crores.

Mr. Shaunak Amin, MD, Alembic Pharmaceuticals Limited said “The India Branded Business was underpinned by a continued incremental improvement in core operations. The Specialty and Animal health segments continued its strong outperformance; whereas the acute performance was relatively satisfactory despite challenging market conditions. The Ex US generics grew 32% in the quarter, whereas the US returned to a 9% growth on the back of 11 launches and 7 approvals.”

Operational Highlights

India Branded Business

  • India Branded Business at Rs. 596 Crores witnessed growth of 9% for the quarter.
  • Gynecology, Gastrointestinal, Anti Diabetic and Ophthalmology therapies outpaced market growth.
  • Relative degree of performance continue to be better than the market in Antibiotic and Respiratory segments on high base of previous year.
  • Animal Health business recorded growth of 32% YoY basis. Basket of strong brands continue to drive outperformance.

International Business

  • US Generics grew 9% to Rs. 474 Crores for the quarter.
  • Ex-US International Formulations grew 32% to Rs. 272 Crores for the quarter.
  • 7 ANDA approvals received during the quarter; 196 Cumulative ANDA approvals.

API Business

  • API business at Rs. 289 Crores for the quarter.

The summary of Total Revenue is as under:                                                   (Rs in Crores)

Particulars Q3 FY24 Q3 FY23 % Change 9M  FY24 9M  FY23 % Change
Formulation            
  India                             596 545 9% 1697 1573 8%
  USA

  Ex- US

474

272

432

206

9%

32%

1308

790

1218

602

7%

31%

API 289 326 (11%) 916 853 7%
Total 1631 1509 8% 4712 4246 11%

By team

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