Key Financial Metrics - Q2FY27

Revenue Performance:

  • Total Revenue from Operations: ₹45,520 million, representing 13.8% YoY growth
  • India sales: ₹30,275 million, with 9.5% YoY growth
  • International sales: ₹14,540 million, with 22.3% YoY growth
  • Biotech sales: ₹704 million, showing 35% YoY degrowth
  • MedTech sales: ₹1,331 million (including Occlutech acquisition integrated from Q2FY27)

Profitability Metrics:

  • EBITDA: ₹10,252 million, resulting in EBITDA margin of 22.5% (11.3% YoY growth)
  • Profit before tax (before exceptional item): ₹9,646 million, with 7.7% YoY growth
  • Net Profit (after Non-Controlling interest): ₹6,753 million, showing 11.7% YoY de-growth
  • R&D expenses: ₹1,953 million (4.3% of total revenue), increased from ₹1,302 million (3.3% of revenue) in Q2FY26

Balance Sheet Position:

  • Net Cash: ₹49,054 million as of 30 September 2026

Operational Highlights - Q2FY27

Domestic Business:

  • Contribution to total sales: 68% vs. 70% in Q2FY26
  • According to IQVIA (SSA) data, company grew 13.8% YoY at par with Indian Pharmaceutical Market (IPM) growth of 13.8%
  • Acute segment reported growth of 12.1% vs IPM growth of 12.3%
  • Chronic segment reported growth of 22.4% vs IPM growth of 16%, representing +640 bps outperformance
  • Outperformed IPM in eight key focused therapies: VMN (~1.2x), Pain (~1.5x), Anti-Diabetic (~1.5x), Cardiac (1.1x), Urology (1.1x), Respiratory (~1.6x), Neuro/CNS (1.1x), and Derma (~1.6x)

International Business:

  • US sales: ₹7,830 million, with 2.4% YoY growth
  • US business contribution: 17% of total sales vs. 19% in Q2FY26
  • Non-US sales: ₹6,710 million, with 58% YoY growth
  • Excluding Occlutech, Non-US sales grew 28.6% YoY
  • Non-US business contribution: 15% of total sales vs. 11% in Q2FY26

H1FY27 Financial Performance

Cumulative Results:

  • Total Revenue from Operations: ₹82,921 million, with 12.5% YoY growth
  • Gross Profit (ex-Other income): ₹55,961 million (67.5% of revenue), with 16.6% YoY growth
  • EBITDA: ₹17,912 million (21.6% of revenue), with 7.9% YoY growth
  • Profit before tax (before exceptional items): ₹17,366 million (20.9% of revenue), with 5.0% YoY growth
  • Net Profit: ₹11,953 million (14.4% of revenue), with 16.4% YoY de-growth
  • EPS: ₹100 vs. ₹120 in H1FY26

Facility Regulatory Status

Current Regulatory Status of Manufacturing Facilities:

  • Baddi (India) Formulations: Received EIR in June 2024, Official Action Indicated (OAI) in August 2026, response submitted, remediation in progress
  • Daman (India) Formulations Bioequivalence Centre: EIR Received in June 2026
  • Taloja R&D (India): No current inspection data
  • Ankleshwar (India) API: EIR Received in July 2023
  • Mandva (India) API: Successful inspection by US FDA in October 2026 with zero observations
  • California (USA) API: EIR Received in October 2025

Management Commentary

Mr. Sandeep Singh, Managing Director, commented: "Our Q2FY27 performance reflects continued momentum in the India business, supported by focused execution across our acute and chronic portfolios. The international business delivered steady progress despite continued pricing pressure in the US, with volume growth providing support. During the quarter, we also expanded our MedTech presence through the addition of Occlutech, while improving execution and operating performance at Enzene remains a key priority. We will continue to focus on strengthening our core business, improving productivity and deploying capital prudently to build sustainable growth across pharmaceuticals, biotech and MedTech."

Corporate Developments

Leadership Changes:

  • Dr. Amrut Naik appointed as Chief Executive Officer

Business Integration:

  • Occlutech MedTech business integrated from Q2FY27 onwards

Market Position & Ownership

Market Standing:

  • Sixth-largest pharmaceutical company in Indian market
  • 50+ years legacy in pharmaceuticals
  • Leading position in anti-infectives, gastrointestinal disorders, pain management, and supplements
  • Growing portfolio in chronic therapies including diabetes, neurology, dermatology, and urology

Ownership Structure (as of 30 September 2026):

  • Promoter & Promoter Group: 49.7%
  • Institutions: 33.2% (Mutual funds: 19.7%, Insurance: 3.2%)
  • FIIs: 10.3%
  • Non-institutions: 17.2%

Market Snapshot:

  • Shares outstanding: ~120 million
  • Market capitalization: ₹617.4 billion
  • Free-float market cap: ₹310.5 billion
  • Share price: ₹5,163.5 on NSE as of 30th September 2026

Operational Scale

Infrastructure:

  • 20+ state-of-the-art manufacturing facilities
  • Cutting-edge R&D centres for generic formulations, APIs, and biosimilars
  • Presence in US, Latin America, Australia, Europe, and several Asian countries

Sales Force:

  • Total field force: 14,500+ medical representatives

Product Launches:

  • Launched 26 products in H1FY27 across various therapy areas

Conference Call Details

Scheduled Event: Q2FY27 & H1FY27 Conference Call at 4:30 pm IST on November 12, 2026

Company Representatives:

  • Mr. Sandeep Singh – Managing Director
  • Dr. Amrut Naik – Chief Executive Officer
  • Mr. Dishant Hitesh Doshi – Deputy Chief Financial Officer

Host: Motilal Oswal Securities Ltd.

Contact Information:

  • Investor Relations: Smeett Jain (+91 91522 29327, smeett.jain@alkem.com)
  • Media: Richa K. Sinari (+91 98201 84988, alkemcorpcomm@alkem.com)

Awards & Recognition

The company received multiple awards including Pharma Company of the Year at Financial Express Pharma Awards 2026, ranked #26 among India's 100 Best Companies to Work For 2026, and #1 pharmaceutical company on the list. Additional recognitions were received for patient safety, biologics pipeline, digital health, CSR initiatives, and brand leadership.