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View Risks →Alkem Laboratories Limited — Q1 FY26
Alkem Laboratories reported a strong Q1 FY26 with revenue of ₹3,371 crore (+11.2% YoY) and EBITDA of ₹739 crore (+21.4% YoY), driven by robust domestic growth (12% YoY) and improved gross margins from lower API costs and favorable mix.
bullish
high
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2-Minute Summary
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Alkem Laboratories reported a strong Q1 FY26 with revenue of ₹3,371 crore (+11.2% YoY) and EBITDA of ₹739 crore (+21.4% YoY), driven by robust domestic growth (12% YoY) and improved gross margins from lower API costs and favorable mix. US business grew 8.8% YoY despite 3-4% price erosion, aided by supply chain recovery. Management maintained FY26 guidance (EBITDA margin ~19.5%) citing potential headwinds from R&D phasing (4.5-5% of sales) and new initiatives (CDMO, medtech) incurring ~₹50-60 crore quarterly opex in H2. Key risk: US tariff uncertainty could pressure margins if implemented.
एल्केम लैबोरेटरीज ने वित्त वर्ष 2026 की पहली तिमाही में मजबूत प्रदर्शन किया। कंपनी की कमाई ₹3,371 करोड़ रही, जो पिछले साल से 11.2% ज्यादा है। मुनाफा (EBITDA) ₹739 करोड़ रहा, जो 21.4% बढ़ा। भारत में बिक्री 12% बढ़ी और कच्चे माल की कम लागत से मुनाफा बेहतर हुआ। अमेरिका में बिक्री 8.8% बढ़ी, भले ही कीमतों में 3-4% गिरावट आई। कंपनी ने पूरे साल के लिए मुनाफा मार्जिन 19.5% रहने का अनुमान लगाया है। लेकिन नई परियोजनाओं (जैसे CDMO और मेडटेक) पर खर्च बढ़ेगा, जो दूसरी छमाही में ₹50-60 करोड़ प्रति तिमाही हो सकता है। अमेरिकी टैरिफ अनिश्चितता से मुनाफा प्रभावित हो सकता है।
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Read Transcript →Quarter Snapshot
India Business Growth
12%
+12% YoY
India sales grew 12% YoY to ₹2,266 crore, outperforming IPM growth of 8.5% by 120 bps.
US Business Growth
8.8%
+8.8% YoY
US sales grew 8.8% YoY to ₹698 crore, driven by supply chain recovery and new launches.
Volume Growth vs IPM
2.9%
+140 bps vs IPM
Alkem's volume growth of 2.9% outpaced IPM volume growth of 1.5% by 140 bps.
Medtech Revenue (Q1)
₹2.5 crore
New initiative
Medtech business generated ₹2.5 crore in Q1; management targets ₹20 crore for FY26.
Fast read
Guidance and risk preview
Management reiterated EBITDA margin guidance of 19-20% for FY26, despite strong Q1, citing potential H2 opex from CDMO and medtech ramp-up.
Potential US tariffs on pharmaceutical imports could impact margins; management called it 'hypothetical' and declined to provide specific mitigatio...
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