Mumbai, February 5th, 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% |