Q3 2026 Alembic Pharmaceuticals Ltd Earnings Call Transcript
Key Points
- Revenue for the quarter grew by 11% year-over-year to INR 1,876 crores, driven by volume expansion, new product launches, and increased traction in ex-U.S. markets.
- EBITDA before R&D expenses and exceptional items stood at INR 464 crores, representing 25% of revenue, reflecting improved operating leverage and prudent management of discretionary spending.
- Profit before tax for the quarter grew by 15% year-on-year to INR 205 crores, indicating underlying revenue growth and margin improvement.
- The U.S. business grew by 6%, supported by higher volumes and new launches, despite pricing challenges.
- Alembic Pharmaceuticals Ltd (BOM:533573) received 7 approvals in the U.S. and launched 2 approved products during the quarter, with plans to launch 4 to 5 more products in the fourth quarter.
- Gross margin decreased to 72% from 74% in the previous year, primarily due to changes in product mix and pricing challenges.
- Pricing pressure in international generics, particularly in the U.S. and API business, persisted during the quarter.
- The India Branded Business growth was 6% year-on-year, which is below the market growth rate.
- A one-time provision of INR 42 crores was recognized towards employee benefits due to changes under the new labor code, impacting reported profit after tax.
- The launch of the branded product Pivya in the U.S. is expected to impact near-term profitability due to initial operational expenses.
Ladies and gentlemen, good day, and welcome to Q3 FY '26 earnings conference call of Alembic Pharmaceuticals Limited. We have with us today, Mr. Pranav Amin, Managing Director; Mr. Shaunak Amin, Managing Director; Mr. R.K.
Baheti, Executive Director; Mr. G. Krishnan, CFO; Mr. Ajay Kumar Desai, Senior VP, Finance. As a reminder, this conference call is for analysts, institutional investors.
[Operator Instructions] Please note that this conference is being recorded.
I now hand the conference over to Mr. G. Krishnan. Thank you, and over to you, sir.
Thank you. Good evening, everyone. Thank you for joining the conference call to discuss the financial results for third quarter and 9 months ended December 2025. Let me briefly take you through the numbers for the period before handing it over to Shaunak. So moving on, we continued the momentum that we had in the first half of the financial year into the third quarter.
Revenue for the quarter grew by 11% year-over
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