Alkem Laboratories
Leading India acute company (top anti-infective franchise — Clavam, Pan) diversifying into chronic and a profitable US generics business.
A full research profile for one company — what it does, how its financials have trended, how the market values it, and a balanced bull/bear/base investment memo.
Scan the top row for the headline numbers, read the charts for trends, check the three gauge scores, then read the auto-generated memo at the bottom. Sources for every figure are linked at the very bottom.
- EBITDA
- — Earnings before interest, tax, depreciation & amortisation — a proxy for operating cash profit.
- PAT
- — Profit After Tax — the bottom-line net profit.
- FCF
- — Free Cash Flow — cash left after running the business and capital spending.
- ANDA
- — Abbreviated New Drug Application — the US FDA filing to sell a generic drug.
Revenue
₹ crore · FY
EBITDA
₹ crore · FY
Margins
EBITDA & PAT margin %
R&D Spend
₹ crore · FY
Free Cash Flow
₹ crore · FY
Revenue Mix
By geography / segment
Quality Score
Growth Score
Regulatory Risk
Snapshot
Business Model
How the company makes money
India #1 in anti-infectives/acute, growing chronic + US generics; specialty/CDMO optionality.
India chronic shift + US gross-margin recovery
Acute seasonality & US price erosion
Peer Group
Click to compare
| Peer | Rev CAGR | EBITDA% | ROCE | P/E |
|---|---|---|---|---|
| Alkem Laboratories | 11% | 19% | 21.2% | 26x |
| Mankind Pharma | 0% | 25% | 13.5% | 49x |
| Torrent Pharmaceuticals | 25% | 32% | 27% | 68x |
| Cipla | 7% | 26% | 23% | 29x |
| J.B. Chemicals & Pharmaceuticals | 23% | 26% | 26% | 49x |
Investment Memo
Auto-generated from the data layer — illustrative, not advice
- • India chronic shift + US gross-margin recovery underpins a 11% 5Y revenue CAGR.
- • Operating leverage as scale builds toward higher margins (currently 19% EBITDA).
- • Clean balance sheet (D/E 0.11) funds growth internally.
- • Acute seasonality & US price erosion.
- • Pricing/NLEM exposure on the domestic book can cap realisation.
- • Re-rating depends on proving R&D/return discipline.
Alkem Laboratories screens as a high-quality domestic formulations franchise. With revenue of ₹13.0K Cr growing ~11% and 19% EBITDA margins, the base case is steady compounding driven by india chronic shift + us gross-margin recovery, while watching acute seasonality & us price erosion.
Trades at 26x P/E, 18.0x EV/EBITDA and 4.6x P/B. Reasonable versus growth — re-rating optionality if execution improves.
- 1 India IPM outperformance & chronic mix
- 2 Gross-margin trajectory & new-launch contribution
- 3 R&D productivity (filings/approvals per ₹ of R&D)
- 4 Capital allocation — capex payback & M&A discipline
ANDA cumulative (Dec-2024): 179 filed / 154 approved (incl. tentative). 17 India + 1 US facility.