Alembic Pharma Q4 net up 12% to Rs 251 cr on strong API, global businesses

Net sales rise 6% to Rs 1,280 cr; API business expands by as much as 38%

Alembic Pharmaceuticals Limited (APL) has posted a 12 per cent growth in net profit for the quarter ended March 31, to Rs 251 crore, from Rs 225 crore during the corresponding period last year. The company's net sales were up six per cent to Rs 1,280 crore, from Rs 1,207 crore. 

On a full-year basis, the company's net profit rose 42 per cent to Rs 1,178 crore for FY21, from Rs 829 crore in FY20, while net sales were up 17 per cent to Rs 5,393 crore (Rs 4,606 crore).

Commenting on the results, Alembic Pharmaceuticals Limited managing director Pranav Amin said the fiscal was an "outstanding year", with the company recording its highest-ever sales and profit. "This was led by strong growth in the API and international businesses. The operating teams worked tirelessly through the pandemic to ensure critical supplies were uninterrupted," Amin added.

In terms of business segments, Alembic's growth was led by its active pharmaceutical ingredients (API) sales which grew by 38 per cent to Rs 214 crore in Q4 of FY21 and 35 per cent to Rs 955 crore for the full fiscal year 2020-21. The company filed two drug master files (DMFs) during Q4 of FY21 taking cumulative DMF filings for the year to 117.

On the other hand, Alembic's US generics grew by 9 per cent to Rs 2,163 crore for FY21 while its ex-US international formulations business grew by 57 per cent to Rs 779 crore for the fiscal. On the other hand, its India branded formulations business grew by five per cent to Rs 1,497 crore for FY21.

The company filed 13 abbreviated new drug applications (ANDAs) during the fourth quarter and total 29 during the full fiscal year 2020-21. Alembic's R&D spend stood at 12 per cent of revenue at Rs 670 crore for the year.