Alembic Pharma soars after stellar Q4 results

Alembic Pharmaceuticals jumped 8.85% to Rs 690 after the drug maker announced stellar Q4 March 2020 result during market hours today.

On a consolidated basis, the drug maker's net profit jumped 81.4% to Rs 224.93 crore in Q4 March 2020 as against Rs 124 crore reported in Q4 March 2019. Revenue from operations surged 30.1% to Rs 1206.83 crore in Q4 March 2019 as compared to Rs 926.95 posted in the same period last year.

EBITDA for Q4 March 2020 stood at Rs 339 crore, rising 95% year on year (YoY) from Rs 174 crore posted in the corresponding period last year. The company's EBITDA margin also grew to 28% in Q4 March 2020 from 19% reported in Q4 March 2019.

Alembic Pharmaceutical's net profit soared 42% to Rs 829 crore on a 17% increase in revenue from operations to Rs 4605.75 crore in the year ended March 2020 (FY20) over the the year ended March 2019 (FY19). The pharmaceutical company has declared a dividend of Rs 10 per equity share.

India formulations business grew by 13% for the quarter to Rs 342 crore as against Rs 302 crores last year. International Formulations grew 80% to Rs 710 crore in the quarter.

The company said it filed for 10 ANDAs during the quarter and 25 ANDAs for FY20. Cumulative ANDA filings at 183.

Commenting on company's Q4 performance, Pranav Amin, Managing Director, Alembic Pharmaceuticals said, "It was a remarkable year for the company where we recorded our highest revenue and profit ever. This was led by strong growth in the US generics business. During the fourth quarter we saw our India and ROW business also getting back to a robust growth."

Alembic Pharmaceuticals is engaged developing formulations and active pharmaceutical ingredients (API).

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