Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Alembic Pharmaceuticals Ltd

APLLTD
Pharma - Formulators

Alembic Pharmaceuticals Ltd's earnings have outrun its stock. EPS grew +15.7% in a year against a −14.3% price move.

The sharpest disagreement: annual EPS moved +15.7% against a −14.3% price move — the market has not yet caught up with the delivery.

The price is building a base (6 weeks in) while the P/E sits at the 44th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +11.7% year on year, and 90% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Turning around
fundamental trajectory, 12 quarters
Price
₹811
−14.3% 1Y
P/E
21.4×
44th pctile
of its own 11-year range
Revenue (Jun 26)
₹2,150 Cr
+25.7% YoY
Profit (Jun 26)
₹172 Cr
+11.7% YoY
Operating margin
15.0%
−1.0 pp YoY
ROCE
13%
FY26
ROIC
11.3%
vs WACC 12.0% → −0.7 pp
Cash conversion
90%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Alembic Pharmaceuticals Ltd trades at ₹811, building a base and 6 weeks into that stage. That is +0.0% against its own 200-day average. It sits at 55% of a 52-week range of ₹674 to ₹925. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks.

Today the stock is building a base — week 6 of stage 1. At ₹811 it trades +0.0% versus its 200-day average and sits at 55% of its 52-week range (₹674–₹925).

Sep 26: ₹811 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+0.0% versus the 200-day line, week 6 of stage 1
Price50-day avg200-day avg
S2S4S4₹1,293₹1,119₹945₹770₹596₹811₹811Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4S4₹1,293₹1,119₹945₹770₹596₹811₹811Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (554 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +32% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 14 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Alembic Pharmaceuticals Ltd trades at 21.4× P/E, mid-range by its own standards (44th percentile). Its long-run median P/E is 23.6×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 21.4× is mid-range by its own standards (44th percentile), against a long-run median of 23.6× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 21.4× vs a 23.6× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.6-year window; loss-period spikes above 46× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (44th percentile)
P/EMedianEPS (TTM) (quarterly)
49.0×₹65.239.5×₹48.929.9×₹32.620.3×₹16.310.8×₹0.0×21.40×₹38Feb 16Oct 18Jun 21Mar 24Sep 26
49.0×₹65.239.5×₹48.929.9×₹32.620.3×₹16.310.8×₹0.0×21.40×₹38Feb 16Jun 21Sep 26
PEG 0.66 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 20 quarters; values above 6 pinned at the top.
below 1.0, the growth looks cheap against the multiple
PEGPEG = 1.0
6.4×4.9×3.3×1.8×0.2××0.66×Q1 FY22Q1 FY23Q2 FY24Q3 FY25Q4 FY26
6.4×4.9×3.3×1.8×0.2××0.66×Q1 FY22Q2 FY24Q4 FY26
P/E
21.4×
44th percentile of 11y
PEG
1.29
as reported

Why the multiple sits where it does: over the past year annual EPS moved +15.7% against a −14.3% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +1.2%/yr price move, ~−6.4%/yr came from earnings growth and ~+7.6 pp from the multiple (expanding); over 10y, of the +2.5%/yr price move, ~−0.5%/yr came from earnings growth and ~+3.0 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Alembic Pharmaceuticals Ltd was paying for profit growth of about 13.7% a year. Profit itself has compounded −0.7% a year over the past 10 years. Today the market pays 21.4× P/E, the 44th percentile of its own 11-year range.

What the two numbers say together. The multiple is unremarkable against its own past, and the growth the price is paying for is above what this company has actually delivered.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Turning around

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Alembic Pharmaceuticals Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −4.4% at the trough to +14.6% off a 4-quarter-old trough, ROCE holding at 13.7%. The read is built from 12 quarters across 4 curves, on full evidence.

Growth, year by year: revenue +10.1% in FY26, profit +15.3% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
58%171%42%111%26%50%9.8%−11%−6.4%−71%%%10.1%15.3%FY16FY21FY26
58%171%42%111%26%50%9.8%−11%−6.4%−71%%%10.1%15.3%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit accelerating
RevenueProfitEPS
15%212%12%153%9.5%95%6.8%37%4.2%−21%%%14.1%14.6%15%Sep 23Dec 24Jun 26
15%212%12%153%9.5%95%6.8%37%4.2%−21%%%14.1%14.6%15%Sep 23Dec 24Jun 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
17%15%14%13%12%%13.7%Sep 23Mar 24Dec 24Sep 25Jun 26
17%15%14%13%12%%13.7%Sep 23Dec 24Jun 26
Revenue growth
Steady high
latest +14.1% · span +4.9% to +14.1%
Profit growth
Rising
latest +14.6% · span −5.4% to +195.5%
EPS growth
Rising
latest +15.0% · span −5.3% to +195.2%
ROCE
Stuck low
latest 13.7% · span 12.0%–16.4%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+10.1%+9.1%+6.4%+8.8%
Profit+15.3%+25.2%−10.2%−0.7%
EPS+15.7%+25.4%−10.1%−1.1%
Share price−14.3%+2.0%+1.2%+2.5%
Revenue YoY (Jun 26)
+25.7%
latest quarter vs a year ago
Profit YoY (Jun 26)
+11.7%
latest quarter vs a year ago
Revenue 10y
8.8%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

43.7/100 — rank 28 of 44 in Pharma - Formulators · 94% evidence confidence

Alembic Pharmaceuticals Ltd scores 43.7 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 28. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 16.4 + 8.4 + 12.5 + 6.4 = 43.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Alembic Pharmaceuticals Ltd reported ₹2,150 Cr of revenue in the Jun 26 quarter, +25.7% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 8.8% a year. The last full year, FY26, came in at ₹7,345 Cr. The last four reported quarters add to ₹7,784 Cr.

FY26 revenue came in at ₹7,345 Cr (+10.1% on the year), capping 10 years at 8.8% compound. The latest quarter (Jun 26) printed ₹2,150 Cr, +25.7% year on year — the 12th consecutive quarter of year-over-year growth.

FY26 revenue ₹7,345 Cr (+10.1% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
8.8% a year over 10 years
RevenueYoY growth
7.9k58%5.9k42%4.0k26%2.0k9.8%0−6.4%₹ Cr%₹7,34510.1%FY16FY21FY26
7.9k58%5.9k42%4.0k26%2.0k9.8%0−6.4%₹ Cr%₹7,34510.1%FY16FY21FY26
Jun 26: ₹2,150 Cr (+25.7% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
12th straight quarter of growth
Revenue (quarterly)YoY growth
2.3k27%1.7k21%1.2k14%5818.0%01.5%₹ Cr%₹2,15025.7%Sep 23Dec 24Jun 26
2.3k27%1.7k21%1.2k14%5818.0%01.5%₹ Cr%₹2,15025.7%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +14.2% growth against the decade's 8.8% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +14.1% over the last 4 quarters against +11.1%/yr over the last 8 — stabilising; TTM profit +14.6% vs +4.7%/yr — accelerating.

07 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Alembic Pharmaceuticals Ltd's operating margin is 15.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0% to 32.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 15.0%, −1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0%–32.0%.

🚨 Why the margin moved: operating margin went −1.0 pp year on year while gross margin went −5.0 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 15.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 12.0–32.0% band over 13 years
operating marginYoY change (pp)
34%14%28%7.0%22%0.0%16%−7.0%10%−14%%%15%0%FY14FY20FY26
34%14%28%7.0%22%0.0%16%−7.0%10%−14%%%15%0%FY14FY20FY26
Jun 26: 15.0% operating margin (−1.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
17%3.5%16%1.7%15%0.0%13%−1.7%12%−3.5%%%15%−1%Sep 23Dec 24Jun 26
17%3.5%16%1.7%15%0.0%13%−1.7%12%−3.5%%%15%−1%Sep 23Dec 24Jun 26
08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Alembic Pharmaceuticals Ltd earned ₹172 Cr of net profit in the Jun 26 quarter, +11.7% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹671 Cr. The 10-year compound rate is −0.7%. That is 8.0% of the quarter's revenue. The same quarter a year earlier earned ₹154 Cr.

Jun 26 profit was ₹172 Cr, +11.7% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹671 Cr (+15.3%), and the 10-year compound rate is −0.7%.

FY26 profit ₹671 Cr (+15.3% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
−0.7% a year over 10 years
Net profitYoY growth
1.2k171%928111%61950%309−11%0−71%₹ Cr%₹67115.3%FY16FY21FY26
1.2k171%928111%61950%309−11%0−71%₹ Cr%₹67115.3%FY16FY21FY26
Jun 26: ₹172 Cr (+11.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
2nd straight quarter of growth
Net profit (quarterly)YoY growth
21853%16433%10912%55−8.4%0−29%₹ Cr%₹17211.7%Sep 23Dec 24Jun 26
21853%16433%10912%55−8.4%0−29%₹ Cr%₹17211.7%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +25.7% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +14.1% vs revenue +14.2%. Profit and revenue are moving roughly in step.

09 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 90% of Alembic Pharmaceuticals Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹783 Cr of operating cash against ₹671 Cr of profit. After ₹722 Cr of capital spending, ₹61.0 Cr was left as free cash.

FY26: operating cash of ₹783 Cr against reported profit of ₹671 Cr, leaving free cash of ₹61.0 Cr after ₹722 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 90% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹783 Cr vs profit ₹671 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
90% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1.7k1.1k476−149−773₹ Cr₹783₹671₹61FY16FY21FY26
1.7k1.1k476−149−773₹ Cr₹783₹671₹61FY16FY21FY26
FY26: CFO = 117% of profit (three-year rate 90%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
228%171%114%56%0.0%%117%FY16FY21FY26
228%171%114%56%0.0%%117%FY16FY21FY26

Why conversion sits at 90%: the cash cycle stretched 120 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 1.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

10 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Alembic Pharmaceuticals Ltd's cash conversion cycle runs 381 days in FY26, up from 261 days in FY21. Capital spending ran ₹1,636 Cr over the last 3 years. At FY26 sales of ₹7,345 Cr each day of that cycle holds about ₹20.1 Cr, so roughly ₹7,667 Cr sits inside the business at any moment.

FY26: debtors at 73 days, inventory at 462 days — roughly 15.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 381 days, looser than FY21's 261.

The full loop: cash goes out to suppliers and production on day 0; stock waits 462 days to sell; customers pay about 73 days after that; and suppliers themselves are paid at 154 days — netting out to the 381-day cycle.

In money terms: at FY26 sales of ₹7,345 Cr, each day of the cycle holds about ₹20.1 Cr — so the 381-day loop keeps roughly ₹7,667 Cr sitting inside the business at any moment.

FY26: a 381-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+120 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
501373245117−11days381d462d73d154dFY14FY17FY20FY23FY26
501373245117−11days381d462d73d154dFY14FY20FY26

On the investment side: capital spending of ₹1,636 Cr over the last 3 fiscal years against ₹871 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹683 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹722 Cr, work-in-progress ₹683 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
2.6k1.6k738−170−1.1k₹ Cr₹722₹683FY16FY18FY21FY23FY26
2.6k1.6k738−170−1.1k₹ Cr₹722₹683FY16FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

11 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Alembic Pharmaceuticals Ltd earns a ROCE of 13% in FY26. That is up from a trough of 7% in FY23. Return on invested capital clears the cost of that capital by −0.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 9.1% net margin on 0.84× asset turns.

FY26 ROCE is 13%, recovered from a FY23 trough of 7% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 9.1% net margin × 0.84× asset turns × 1.54× balance-sheet leverage ≈ 11.8% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 11.3% − 12.0% = a −0.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 13% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY23's 7%
ROCEROIC (annual)WACC
71%54%37%19%2.3%%13%11.6%FY14FY20FY26
71%54%37%19%2.3%%13%11.6%FY14FY20FY26
Q4 FY26: ROCE 12.9% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
15%13%11%8.4%6.1%%12.9%10.9%Q1 FY24Q2 FY25Q4 FY26
15%13%11%8.4%6.1%%12.9%10.9%Q1 FY24Q2 FY25Q4 FY26
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Alembic Pharmaceuticals Ltd carries total debt of ₹1,430 Cr against shareholder equity of ₹5,669 Cr as of Mar 26, a debt-to-equity of 0.25 — effectively unlevered. On the annual view that ratio went from 0.14 in FY22 to 0.25 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹1,430 Cr against shareholder equity of ₹5,669 Cr — a debt-to-equity of 0.25. On the annual view, debt-to-equity went from 0.14 (FY22) to 0.25 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹1,430 Cr at 0.25× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1.5k0.26×1.2k0.22×7720.18×3860.14×00.10×₹ Cr×₹1,4300.25×FY22FY24FY26
1.5k0.26×1.2k0.22×7720.18×3860.14×00.10×₹ Cr×₹1,4300.25×FY22FY24FY26
Mar 26: debt ₹1,430 Cr, debt-to-equity 0.25 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1.6k0.29×1.2k0.24×8040.20×4020.15×00.10×₹ Cr×₹1,4300.25×Jun 23Sep 24Mar 26
1.6k0.29×1.2k0.24×8040.20×4020.15×00.10×₹ Cr×₹1,4300.25×Jun 23Sep 24Mar 26
13 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Alembic Pharmaceuticals Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.3 points over the same window, to 69.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +0.5 points over 8 quarters to 15.9%; Promoters: +0.3 points over 8 quarters to 69.9%; Foreign institutions: −0.2 points over 8 quarters to 4.2%.

Fiscal-year ends: promoters +0.1 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
75%56%37%18%−1.3%%69.7%4.3%16.2%9.8%Mar 24Mar 25Mar 26
75%56%37%18%−1.3%%69.7%4.3%16.2%9.8%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
75%56%37%18%−1.3%%69.9%4.2%15.9%10%Jun 23Dec 24Jun 26
75%56%37%18%−1.3%%69.9%4.2%15.9%10%Jun 23Dec 24Jun 26
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Alembic Pharmaceuticals Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · Pharma - Formulators
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Kwality Pharmaceuticals Ltd539997 73.7/100Favorable setup82% evidence LEADER 31.1/35 Revenue 37.9% · PAT 88.4% · OPM change 3 pp 95% evidence 17.8/25 ROCE 24.1% · OPM 25% 76% evidence 6.2/20 P/E 46.3× · PEG — 50% evidence 18.6/20 RS sector 72.7% · RS bench 113.3% · 1Y 288.3%12 of 12 weeks ahead 100% evidence
Exact sum: 31.1 + 17.8 + 6.2 + 18.6 = 73.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Glenmark Pharmaceuticals LtdGLENMARK 71.1/100Favorable setup100% evidence TURNING 30.8/35 Revenue 32.9% · PAT 100% · OPM change 2 pp 100% evidence 18.2/25 ROCE 39.8% · OPM 20% 100% evidence 12.4/20 P/E 21.9× · PEG 1.43 100% evidence 9.7/20 RS sector -11.1% · RS bench 15.2% · 1Y 17.9%3 of 12 weeks ahead 100% evidence
Exact sum: 30.8 + 18.2 + 12.4 + 9.7 = 71.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Bliss GVS Pharma LtdBLISSGVS 69.5/100Favorable setup82% evidence LEADER 29.0/35 Revenue 20.6% · PAT 25.7% · OPM change 7 pp 95% evidence 14.8/25 ROCE 16.9% · OPM 27% 76% evidence 6.0/20 P/E 55.7× · PEG — 50% evidence 19.7/20 RS sector 102.4% · RS bench 147.9% · 1Y 362.4%12 of 12 weeks ahead 100% evidence
Exact sum: 29 + 14.8 + 6 + 19.7 = 69.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Ipca Laboratories LtdIPCALAB 67.9/100Favorable setup82% evidence BREAKING OUT 26.3/35 Revenue 10.6% · PAT 68% · OPM change 6 pp 95% evidence 15.8/25 ROCE 17% · OPM 24% 76% evidence 11.0/20 P/E 36.4× · PEG — 50% evidence 14.8/20 RS sector -0.6% · RS bench 28.3% · 1Y 47.5%10 of 12 weeks ahead 100% evidence
Exact sum: 26.3 + 15.8 + 11 + 14.8 = 67.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Lupin LtdLUPIN 66.8/100Favorable setup93% evidence ASLEEP 29.6/35 Revenue 28.2% · PAT 49.2% · OPM change 2 pp 100% evidence 19.3/25 ROCE 29.9% · OPM 30% 100% evidence 16.3/20 P/E 16.1× · PEG 0.54 65% evidence 1.6/20 RS sector -26.2% · RS bench -4% · 1Y 7.8%0 of 12 weeks ahead 100% evidence
Exact sum: 29.6 + 19.3 + 16.3 + 1.6 = 66.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -26.2% and the one-year return is 7.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
6Emcure Pharmaceuticals LtdEMCURE 66.3/100Favorable setup75% evidence LEADER 27.3/35 Revenue 18.4% · PAT 32.2% · OPM change 1 pp 95% evidence 18.2/25 ROCE 24% · OPM 21% 76% evidence 9.9/20 P/E 36.4× · PEG — 15% evidence 10.9/20 RS sector -2.5% · RS bench 25.5% · 1Y 44.2%10 of 12 weeks ahead 100% evidence
Exact sum: 27.3 + 18.2 + 9.9 + 10.9 = 66.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Corona Remedies LtdCORONA 65.2/100Favorable setup73% evidence BREAKING OUT 23.0/35 Revenue 18% · PAT 19.3% · OPM change 2 pp 100% evidence 20.4/25 ROCE 33.3% · OPM 22% 100% evidence 11.8/20 P/E 64.4× · PEG 1.18 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence
Exact sum: 23 + 20.4 + 11.8 + 10 = 65.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Fredun Pharmaceuticals LtdFREDUN 64.9/100Mixed-positive evidence74% evidence 26.7/35 Revenue 91.5% · PAT 100% · OPM change 0 pp 95% evidence 13.0/25 ROCE 21.3% · OPM 14% 95% evidence 9.3/20 P/E 53.3× · PEG — 15% evidence 15.9/20 RS sector 24.1% · RS bench 96.2% · 1Y 9.2%4 of 12 weeks ahead 70% evidence
Exact sum: 26.7 + 13 + 9.3 + 15.9 = 64.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Accent Microcell LtdACCENTMIC 64.5/100Mixed-positive evidence63% evidence LEADER 17.5/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 18.9/25 ROCE 24.9% · OPM 16% 95% evidence 8.7/20 P/E 39.7× · PEG — 50% evidence 19.4/20 RS sector 44.8% · RS bench 83.4% · 1Y 160.1%12 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 18.9 + 8.7 + 19.4 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Caplin Point Laboratories LtdCAPLIPOINT 61.8/100Mixed-positive evidence100% evidence LEADER 19.0/35 Revenue 15% · PAT 19.6% · OPM change 0 pp 100% evidence 17.7/25 ROCE 24.2% · OPM 35% 100% evidence 9.4/20 P/E 31.5× · PEG 1.52 100% evidence 15.7/20 RS sector 5.8% · RS bench 36.1% · 1Y 28.8%12 of 12 weeks ahead 100% evidence
Exact sum: 19 + 17.7 + 9.4 + 15.7 = 61.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Rubicon Research LtdRUBICON 57.6/100Mixed-positive evidence73% evidence BREAKING OUT 24.1/35 Revenue 46.8% · PAT 91.4% · OPM change 2 pp 100% evidence 17.9/25 ROCE 28.4% · OPM 24% 100% evidence 5.6/20 P/E 105× · PEG 2.63 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence
Exact sum: 24.1 + 17.9 + 5.6 + 10 = 57.6 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
12Marksans Pharma LtdMARKSANS 57.4/100Mixed-positive evidence87% evidence BREAKING OUT 25.8/35 Revenue 19.6% · PAT 48% · OPM change 9 pp 100% evidence 15.8/25 ROCE 18.8% · OPM 25% 100% evidence 6.3/20 P/E 28.9× · PEG 2.85 65% evidence 9.5/20 RS sector -18.1% · RS bench 58.3% · 1Y 95%11 of 11 weeks ahead 70% evidence
Exact sum: 25.8 + 15.8 + 6.3 + 9.5 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Ajanta Pharma LtdAJANTPHARM 56.3/100Mixed-positive evidence100% evidence BREAKING OUT 21.3/35 Revenue 20.2% · PAT 22.2% · OPM change -1 pp 100% evidence 19.6/25 ROCE 34.5% · OPM 26% 100% evidence 5.5/20 P/E 38.9× · PEG 2.31 100% evidence 9.9/20 RS sector -5.3% · RS bench 22.1% · 1Y 35.2%11 of 12 weeks ahead 100% evidence
Exact sum: 21.3 + 19.6 + 5.5 + 9.9 = 56.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
14Strides Pharma Science LtdSTAR 55.9/100Mixed-positive evidence75% evidence TURNING 20.6/35 Revenue 8.1% · PAT 79.1% · OPM change -1 pp 95% evidence 13.3/25 ROCE 18.3% · OPM 18% 76% evidence 11.2/20 P/E 18.8× · PEG — 15% evidence 10.8/20 RS sector -4.1% · RS bench 24% · 1Y 32.9%4 of 12 weeks ahead 100% evidence
Exact sum: 20.6 + 13.3 + 11.2 + 10.8 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Wockhardt LtdWOCKPHARMA 54.3/100Mixed-positive evidence74% evidence TURNING 24.9/35 Revenue 18.4% · PAT 100% · OPM change 11 pp 74% evidence 5.3/25 ROCE 7.5% · OPM 21% 100% evidence 8.8/20 P/E 88.8× · PEG — 15% evidence 15.3/20 RS sector 10.9% · RS bench 42% · 1Y 47.4%11 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 5.3 + 8.8 + 15.3 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16RPG Life Sciences LtdRPGLIFE 52.6/100Mixed-positive evidence93% evidence LEADER 11.9/35 Revenue 11.9% · PAT -34.1% · OPM change 1 pp 100% evidence 17.5/25 ROCE 25.7% · OPM 22% 100% evidence 11.1/20 P/E 38.2× · PEG 1.43 65% evidence 12.1/20 RS sector -8.1% · RS bench 19.1% · 1Y 13.5%11 of 12 weeks ahead 100% evidence
Exact sum: 11.9 + 17.5 + 11.1 + 12.1 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17ERIS Lifesciences LtdERIS 52.6/100Mixed-positive evidence76% evidence BASING 20.4/35 Revenue 9.6% · PAT 62.2% · OPM change -2 pp 95% evidence 14.3/25 ROCE 14.1% · OPM 34% 76% evidence 11.9/20 P/E 28.6× · PEG — 50% evidence 6.0/20 RS sector -13.8% · RS bench -5% · 1Y -21.6%0 of 10 weeks ahead 70% evidence
Exact sum: 20.4 + 14.3 + 11.9 + 6 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Akums Drugs & Pharmaceuticals LtdAKUMS 51.3/100Mixed-positive evidence75% evidence LEADER 13.2/35 Revenue 9.2% · PAT -15.8% · OPM change 2 pp 95% evidence 10.9/25 ROCE 14.9% · OPM 15% 76% evidence 9.6/20 P/E 40× · PEG — 15% evidence 17.6/20 RS sector 15.9% · RS bench 48% · 1Y 68.7%12 of 12 weeks ahead 100% evidence
Exact sum: 13.2 + 10.9 + 9.6 + 17.6 = 51.3 · Decision use: Price leads the evidence: RS versus the benchmark is 48%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
19Suven Life Sciences LtdSUVEN 51.0/100Mixed-positive evidence67% evidence LEADER 19.8/35 Revenue 25% · PAT -80% · OPM change -997 pp 74% evidence 2.2/25 ROCE -79.5% · OPM — 84% evidence 10.0/20 P/E — · PEG — 0% evidence 19.0/20 RS sector 29.3% · RS bench 63% · 1Y 60%12 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 2.2 + 10 + 19 = 51 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Zydus Lifesciences LtdZYDUSLIFE 49.3/100Mixed-negative evidence100% evidence FADING 11.9/35 Revenue 21.1% · PAT -2.5% · OPM change -8 pp 100% evidence 16.7/25 ROCE 21.1% · OPM 24% 100% evidence 13.7/20 P/E 22.9× · PEG 1.23 100% evidence 7.0/20 RS sector -11.7% · RS bench 14.3% · 1Y 10.4%9 of 12 weeks ahead 100% evidence
Exact sum: 11.9 + 16.7 + 13.7 + 7 = 49.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
21J B Chemicals & Pharmaceuticals LtdJBCHEPHARM 47.1/100Mixed-negative evidence96% evidence 10.6/35 Revenue 5.9% · PAT 7.4% · OPM change -2 pp 88% evidence 20.6/25 ROCE 25.4% · OPM 22% 100% evidence 3.9/20 P/E 53.8× · PEG 2.34 100% evidence 12.0/20 RS sector -0.3% · RS bench 23.5% · 1Y 40.2%3 of 4 weeks ahead to 2026-07-19 100% evidence
Exact sum: 10.6 + 20.6 + 3.9 + 12 = 47.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
22Lincoln Pharmaceuticals LtdLINCOLN 46.8/100Mixed-negative evidence87% evidence ASLEEP 15.1/35 Revenue 10% · PAT 11.5% · OPM change 0 pp 95% evidence 15.3/25 ROCE 16.3% · OPM 15% 95% evidence 10.8/20 P/E 13× · PEG — 50% evidence 5.6/20 RS sector -15.1% · RS bench 9.9% · 1Y 11.6%0 of 12 weeks ahead 100% evidence
Exact sum: 15.1 + 15.3 + 10.8 + 5.6 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Alkem Laboratories LtdALKEM 45.1/100Mixed-negative evidence82% evidence ASLEEP 14.6/35 Revenue 13.4% · PAT -5.5% · OPM change -2 pp 95% evidence 17.4/25 ROCE 21.2% · OPM 20% 76% evidence 11.6/20 P/E 26.8× · PEG — 50% evidence 1.5/20 RS sector -28.5% · RS bench -6.5% · 1Y -4.6%1 of 12 weeks ahead 100% evidence
Exact sum: 14.6 + 17.4 + 11.6 + 1.5 = 45.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Aurobindo Pharma LtdAUROPHARMA 44.8/100Mixed-negative evidence100% evidence LEADER 16.5/35 Revenue 9.1% · PAT 9.5% · OPM change 1 pp 100% evidence 12.3/25 ROCE 12.9% · OPM 21% 100% evidence 4.8/20 P/E 25.6× · PEG 2.67 100% evidence 11.2/20 RS sector -1.3% · RS bench 26.9% · 1Y 60.9%10 of 12 weeks ahead 100% evidence
Exact sum: 16.5 + 12.3 + 4.8 + 11.2 = 44.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25Sun Pharmaceutical Industries LtdSUNPHARMA 44.2/100Mixed-negative evidence100% evidence TURNING 16.9/35 Revenue 11.4% · PAT 16.5% · OPM change -2 pp 100% evidence 17.3/25 ROCE 20.5% · OPM 29% 100% evidence 4.3/20 P/E 35× · PEG 3.8 100% evidence 5.7/20 RS sector -19.4% · RS bench 4.7% · 1Y 15.5%6 of 12 weeks ahead 100% evidence
Exact sum: 16.9 + 17.3 + 4.3 + 5.7 = 44.2 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
26Kilitch Drugs (India) LtdKILITCH 44.1/100Mixed-negative evidence87% evidence FADING 13.9/35 Revenue 14% · PAT 9.3% · OPM change -1 pp 95% evidence 9.2/25 ROCE 13.4% · OPM 6.5% 95% evidence 14.2/20 P/E 21.6× · PEG — 50% evidence 6.8/20 RS sector -15.6% · RS bench 10% · 1Y 0.6%8 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 9.2 + 14.2 + 6.8 = 44.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
27Gufic BioSciences LtdGUFICBIO 44.0/100Mixed-negative evidence94% evidence BREAKING OUT 23.1/35 Revenue 16.6% · PAT 17.7% · OPM change 3 pp 100% evidence 9.8/25 ROCE 12.3% · OPM 18% 100% evidence 2.3/20 P/E 58× · PEG 4.78 100% evidence 8.8/20 RS sector -18.4% · RS bench 26.1% · 1Y 19.2%11 of 11 weeks ahead 70% evidence
Exact sum: 23.1 + 9.8 + 2.3 + 8.8 = 44 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
28Alembic Pharmaceuticals Ltdthis pageAPLLTD 43.7/100Mixed-negative evidence94% evidence BREAKING OUT 16.4/35 Revenue 14.1% · PAT 14.6% · OPM change -1 pp 100% evidence 8.4/25 ROCE 12.6% · OPM 15% 100% evidence 12.5/20 P/E 21.4× · PEG 1.74 100% evidence 6.4/20 RS sector -24.1% · RS bench 1.5% · 1Y -14.3%4 of 11 weeks ahead 70% evidence
Exact sum: 16.4 + 8.4 + 12.5 + 6.4 = 43.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Amrutanjan Health Care LtdAMRUTANJAN 43.2/100Mixed-negative evidence87% evidence BASING 13.2/35 Revenue 10.7% · PAT -1.1% · OPM change -2.9 pp 95% evidence 14.9/25 ROCE 24.8% · OPM 6.1% 95% evidence 14.3/20 P/E 22.8× · PEG — 50% evidence 0.8/20 RS sector -37.2% · RS bench -17% · 1Y -36.1%0 of 12 weeks ahead 100% evidence
Exact sum: 13.2 + 14.9 + 14.3 + 0.8 = 43.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
30Mankind Pharma LtdMANKIND 42.9/100Mixed-negative evidence100% evidence BASING 16.8/35 Revenue 14.2% · PAT 8% · OPM change 2 pp 100% evidence 13.8/25 ROCE 13.5% · OPM 26% 100% evidence 8.2/20 P/E 44.2× · PEG 2.81 100% evidence 4.1/20 RS sector -22.9% · RS bench 0.4% · 1Y -10.6%6 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 13.8 + 8.2 + 4.1 = 42.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
31FDC LtdFDC 41.9/100Mixed-negative evidence94% evidence ASLEEP 12.8/35 Revenue 3.5% · PAT 8.2% · OPM change -1 pp 100% evidence 12.9/25 ROCE 15.4% · OPM 21% 100% evidence 11.9/20 P/E 18× · PEG 2 100% evidence 4.3/20 RS sector -25.1% · RS bench -11.7% · 1Y -27.5%4 of 10 weeks ahead 70% evidence
Exact sum: 12.8 + 12.9 + 11.9 + 4.3 = 41.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Indoco Remedies LtdINDOCO 40.7/100Thin evidence · provisional58% evidence TURNING 20.2/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 71% evidence 4.4/25 ROCE 1% · OPM 9% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 6.1/20 RS sector -32.2% · RS bench 14.2% · 1Y -3.8%7 of 10 weeks ahead 70% evidence
Exact sum: 20.2 + 4.4 + 10 + 6.1 = 40.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
33Zim Laboratories LtdZIMLAB 39.9/100Mixed-negative evidence79% evidence LEADER 9.6/35 Revenue 7.5% · PAT -60.6% · OPM change -3.3 pp 71% evidence 6.1/25 ROCE 4.8% · OPM 2.6% 95% evidence 5.8/20 P/E 202× · PEG — 50% evidence 18.4/20 RS sector 25.7% · RS bench 59.5% · 1Y 87.3%11 of 12 weeks ahead 100% evidence
Exact sum: 9.6 + 6.1 + 5.8 + 18.4 = 39.9 · Decision use: Price leads the evidence: RS versus the benchmark is 59.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
34Torrent Pharmaceuticals LtdTORNTPHARM 39.8/100Mixed-negative evidence100% evidence BREAKING OUT 16.6/35 Revenue 32.9% · PAT 7.7% · OPM change 2 pp 100% evidence 14.2/25 ROCE 15.2% · OPM 34% 100% evidence 0.8/20 P/E 84.6× · PEG 5.11 100% evidence 8.2/20 RS sector -7.4% · RS bench 19.5% · 1Y 39%10 of 12 weeks ahead 100% evidence
Exact sum: 16.6 + 14.2 + 0.8 + 8.2 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
35Bafna Pharmaceuticals LtdBAFNAPH 39.8/100Mixed-negative evidence60% evidence TURNING 11.5/35 Revenue -3.1% · PAT -5.8% · OPM change -11.3 pp 95% evidence 7.3/25 ROCE 11.9% · OPM 3.4% 76% evidence 8.7/20 P/E 91.5× · PEG — 15% evidence 12.3/20 RS sector — · RS bench 84.4% · 1Y —3 of 3 weeks ahead 25% evidence
Exact sum: 11.5 + 7.3 + 8.7 + 12.3 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
36Bajaj Healthcare LtdBAJAJHCARE 37.8/100Mixed-negative evidence87% evidence BREAKING OUT 9.8/35 Revenue 12.3% · PAT -59.1% · OPM change 1 pp 95% evidence 10.3/25 ROCE 11.5% · OPM 17% 95% evidence 11.9/20 P/E 20× · PEG — 50% evidence 5.8/20 RS sector -29.8% · RS bench -7.1% · 1Y -22.5%5 of 12 weeks ahead 100% evidence
Exact sum: 9.8 + 10.3 + 11.9 + 5.8 = 37.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Natco Pharma LtdNATCOPHARM 37.3/100Mixed-negative evidence100% evidence ASLEEP 3.0/35 Revenue -20.8% · PAT -32.5% · OPM change -18 pp 100% evidence 14.1/25 ROCE 17.4% · OPM 25% 100% evidence 19.1/20 P/E 12.8× · PEG 0.76 100% evidence 1.1/20 RS sector -31.6% · RS bench -10.9% · 1Y -4.4%0 of 12 weeks ahead 100% evidence
Exact sum: 3 + 14.1 + 19.1 + 1.1 = 37.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
38Biocon LtdBIOCON 36.2/100Mixed-negative evidence100% evidence ASLEEP 13.3/35 Revenue 9.8% · PAT -36.4% · OPM change 1 pp 100% evidence 7.7/25 ROCE 3.6% · OPM 20% 100% evidence 11.5/20 P/E 87.5× · PEG 0.82 100% evidence 3.7/20 RS sector -22.1% · RS bench 1.3% · 1Y 7.4%6 of 12 weeks ahead 100% evidence
Exact sum: 13.3 + 7.7 + 11.5 + 3.7 = 36.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
39Bharat Parenterals LtdBPLPHARMA 35.8/100Thin evidence · provisional58% evidence 12.3/35 Revenue -11.2% · PAT 16% · OPM change -2.8 pp 71% evidence 4.1/25 ROCE -1.9% · OPM 9.1% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 9.4/20 RS sector -12.8% · RS bench 24.2% · 1Y 10.6%1 of 12 weeks ahead 70% evidence
Exact sum: 12.3 + 4.1 + 10 + 9.4 = 35.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
40Cipla LtdCIPLA 32.6/100Adverse evidence100% evidence BASING 4.6/35 Revenue 1.8% · PAT -37.7% · OPM change -9 pp 100% evidence 12.3/25 ROCE 15.5% · OPM 17% 100% evidence 12.0/20 P/E 30.8× · PEG 1.25 100% evidence 3.7/20 RS sector -25.3% · RS bench -2.3% · 1Y -12.1%5 of 12 weeks ahead 100% evidence
Exact sum: 4.6 + 12.3 + 12 + 3.7 = 32.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
41Dr Reddys Laboratories LtdDRREDDY 30.1/100Adverse evidence100% evidence BASING 3.7/35 Revenue -0.9% · PAT -44.6% · OPM change -14 pp 100% evidence 11.7/25 ROCE 13% · OPM 11% 100% evidence 13.3/20 P/E 30.2× · PEG 1.15 100% evidence 1.4/20 RS sector -28% · RS bench -5.9% · 1Y -8.1%1 of 12 weeks ahead 100% evidence
Exact sum: 3.7 + 11.7 + 13.3 + 1.4 = 30.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
42Influx Healthtech LtdINFLUX 59.8/100Thin evidence · provisional50% evidence TURNING 19.3/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 20.8/25 ROCE 40% · OPM 19% 95% evidence 10.3/20 P/E 30.5× · PEG — 15% evidence 9.4/20 RS sector -9.8% · RS bench 16% · 1Y 43.4%10 of 12 weeks ahead 70% evidence
Exact sum: 19.3 + 20.8 + 10.3 + 9.4 = 59.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43Syncom Healthcare LtdSYNCOM 49.7/100Thin evidence · provisional31% evidence 17.1/35 Revenue -69.4% · PAT 63.5% · OPM change — 16% evidence 6.9/25 ROCE -20.2% · OPM -225.7% 46% evidence 10.0/20 P/E — · PEG — 0% evidence 15.7/20 RS sector 29.1% · RS bench 45.7% · 1Y —9 of 12 weeks ahead to 2021-06-30 70% evidence
Exact sum: 17.1 + 6.9 + 10 + 15.7 = 49.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
44Sai Parenterals LtdSAIPARENT 37.4/100Thin evidence · provisional38% evidence ASLEEP 13.7/35 Revenue — · PAT — · OPM change -1 pp 32% evidence 5.1/25 ROCE 5.3% · OPM 13.2% 95% evidence 8.6/20 P/E 111× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —6 of 9 weeks ahead 0% evidence
Exact sum: 13.7 + 5.1 + 8.6 + 10 = 37.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Alembic Pharmaceuticals Ltd's share price today?

Alembic Pharmaceuticals Ltd trades at ₹811, −14.3% over the past year. The company is valued at ₹15,940 Cr. The stock sits at 55% of its 52-week range of ₹674–₹925, +0.0% versus its 200-day average. On the tape, the price is building a base, 6 weeks in. — as of 11 September 2026.

What were Alembic Pharmaceuticals Ltd's latest quarterly results?

Alembic Pharmaceuticals Ltd reported revenue of ₹2,150 Cr and net profit of ₹172 Cr for the Jun 26 quarter. Revenue rose 25.7% and profit rose 11.7% year on year. Earnings per share were ₹8.80. The operating margin was 15.0%, 1.0 pp lower than a year earlier. — as of 11 September 2026.

What is Alembic Pharmaceuticals Ltd's revenue?

Alembic Pharmaceuticals Ltd reported revenue of ₹2,150 Cr in the Jun 26 quarter, +25.7% year on year. For the full FY26 fiscal year, revenue was ₹7,345 Cr (+10.1%). Over the last 10 years revenue compounded at 8.8% a year. — as of 11 September 2026.

What is Alembic Pharmaceuticals Ltd's profit?

Alembic Pharmaceuticals Ltd earned ₹172 Cr of net profit in the Jun 26 quarter, +11.7% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹671 Cr. The operating margin ran 15.0% in the latest quarter. — as of 11 September 2026.

What is Alembic Pharmaceuticals Ltd's market cap?

Alembic Pharmaceuticals Ltd's market capitalisation is ₹15,940 Cr at a share price of ₹811. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Alembic Pharmaceuticals Ltd's P/E ratio?

Alembic Pharmaceuticals Ltd trades at a P/E of 21.4×, at the 44th percentile of its own 11-year range, against a long-run median of 23.6×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Alembic Pharmaceuticals Ltd pay a dividend?

Yes — Alembic Pharmaceuticals Ltd's dividend payout was 35% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Alembic Pharmaceuticals Ltd overvalued?

On its own history, Alembic Pharmaceuticals Ltd looks mid-range: its P/E of 21.4× sits at the 44th percentile of its 11-year range (long-run median 23.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is Alembic Pharmaceuticals Ltd growing?

Yes — Alembic Pharmaceuticals Ltd is growing: latest-quarter revenue +25.7% year on year, profit +11.7%, and the margin −1.0 pp at 15.0%. The 10-year compound rates are 8.8% (revenue) and −0.7% (profit). The earnings engine currently reads: improving — as of 11 September 2026.

How is Alembic Pharmaceuticals Ltd performing?

Alembic Pharmaceuticals Ltd is building a base, 6 weeks in. Its latest quarter's revenue rose 25.7% and profit rose 11.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 14 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Alembic Pharmaceuticals Ltd in?

Turning around — profit growth swung from −4.4% at the trough to +14.6% off a 4-quarter-old trough, ROCE holding at 13.7%. The read comes from the last 12 quarters of growth (revenue growth +14.1% latest, profit growth +14.6% latest, eps growth +15.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Alembic Pharmaceuticals Ltd in an uptrend?

No — the price is building a base (week 6 of stage 1), trading +0.0% versus its 200-day average and at 55% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Alembic Pharmaceuticals Ltd beating the market?

On recent form, yes — Alembic Pharmaceuticals Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +32% against the NIFTY 500's +267% — behind the index over the full window. — as of 11 September 2026.

Will Alembic Pharmaceuticals Ltd's share price go up?

This page publishes no price forecast for Alembic Pharmaceuticals Ltd. What it measures instead: the share price is ₹811, the price is building a base 6 weeks in. Its P/E of 21.4× sits at the 44th percentile of its own 11-year range. — as of 11 September 2026.

Who owns Alembic Pharmaceuticals Ltd?

Promoters hold 69.9% of Alembic Pharmaceuticals Ltd, foreign institutions 4.2%, domestic institutions 15.9% and the public 10.0% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.

Does Alembic Pharmaceuticals Ltd have too much debt?

No — Alembic Pharmaceuticals Ltd's debt-to-equity is 0.25, and operating profit covers the interest bill 12×. FY26 borrowings were ₹1,430 Cr against equity of ₹5,675 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.

What is Alembic Pharmaceuticals Ltd's capex?

Alembic Pharmaceuticals Ltd spent ₹1,636 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹722 Cr, with ₹683 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Alembic Pharmaceuticals Ltd's cash flow?

Alembic Pharmaceuticals Ltd generated ₹783 Cr of operating cash flow in FY26 and ₹61.0 Cr of free cash flow after ₹722 Cr of capital spending. Reported profit that year was ₹671 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Alembic Pharmaceuticals Ltd's profit real cash?

Yes — over the last 3 fiscal years, 90% of Alembic Pharmaceuticals Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹783 Cr against reported profit of ₹671 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.

Where is Alembic Pharmaceuticals Ltd in its business cycle?

Alembic Pharmaceuticals Ltd's FY26 operating margin was 15.0%, against a 13-year band of 12.0%–32.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 15.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does Alembic Pharmaceuticals Ltd's price assume?

At its price on 13 June 2026, Alembic Pharmaceuticals Ltd was priced for profit growth of about 13.7% a year. Profit itself has compounded −0.7% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the Alembic Pharmaceuticals Ltd story?

The sharpest disagreement: annual EPS moved +15.7% against a −14.3% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Alembic Pharmaceuticals Ltd a stock worth studying right now?

This is not investment advice. The machine read: Alembic Pharmaceuticals Ltd's earnings have outrun its stock. EPS grew +15.7% in a year against a −14.3% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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