ALFA Finder
The call ran from 4:31 PM to 5:23 PM IST (52 min).
Key takeaways
Q2 FY27 revenue ₹4,520 Cr (+13.8%) and EBITDA margin 22.5%, but PAT fell 11.7%. US constant-currency sales contracted 3% on price erosion.
| Revenue growth | 13.8% YoY; partly inorganic via Oclutech consolidation. |
|---|---|
| Margins | EBITDA 22.5%; FY27 likely near FY26's 20.4%; Oclutech ~80bps drag. |
| Demand visibility | India growth in line with IPM; Chronic 22.4% vs 16% industry. |
| Management confidence | Balanced; declined margin guidance raise, cut US outlook to mid-single digit. |
Growth
Revenue +13.8% includes Oclutech consolidation from mid-July. Chronic +22.4% vs IPM 16%; acute in line with market.
Outlook
FY27 US growth mid-single-digit in constant currency; margin near FY26's 20.4%. Enzene ₹300–350 Cr, MedTech ~₹400 Cr capex over 3–4 years.
Risks
Daman OAI status delays ~8 products due in 6–12 months. Denosumab biosimilar BLA setback, trade-generic price pressure, and PAT decline.
Last quarter's promises, checked
Delivered
- Tolvaptan US launch in Q2 → launched Sept (= BEAT)
Missed
- US FY27 growth high-single to mid CC → cut to mid-single; Q2 US CC −3% (= MISS)
- Daman OAI no FY27 business impact, recovery in 6–12 mo → ~8 products delayed 6–12 mo (= MISS)
- US price erosion 'close to flattish, bottomed out' → ~16% erosion (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Alkem Laboratories Q2 FY27 Results: Net Profit ₹667.1 Cr, Down 14.4% YoY
Alkem Laboratories Ltd reported revenue from operations of ₹4,552 Cr (+13.8% YoY) and net profit of ₹667.1 Cr (-14.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹667.1 Cr · -14.4% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targets 100-150 bps outperformance over Indian Pharma Market growth. FY27 EBITDA margins guided between 20-21%.
Growth they described
Q4 revenue grew 14.6% YoY to INR 36,033m. FY26 revenue at INR 147,123m (up 13.5%) with 20.4% EBITDA margins.
Call details
| Company | Alkem Laboratories Ltd |
|---|---|
| NSE symbol | ALKEM |
| ISIN | INE540L01014 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 12 November 2026 |
| Time | 4:30 PM IST |
| Length | 52 min |
| Audio | Our stream on YouTube ↗ |
Alkem Laboratories Ltd: key numbers
- Share price
- ₹5,114.00
- Market cap
- ₹61,146 Cr
- Revenue (annual)
- ₹14,712 Cr
- Net profit (annual)
- ₹2,302 Cr
- P/E (TTM)
- 29.6×Sector 43.7×
- Promoter holding
- 49.70%+0.00% QoQ
- FII holding
- 10.32%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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