Alembic Pharmaceuticals LTD. (NSE: APLLTD): Q3 FY23 Results Out; Total Income Rises 18% YoY

Alembic Pharmaceuticals Ltd. (NSE:APLLTD) is an Indian pharmaceutical company that was founded in 1907. It is headquartered in Vadodara, Gujarat, and operates globally. The company specializes in the manufacturing of a wide range of pharmaceutical products, including active pharmaceutical ingredients, formulations, and nutraceuticals. Alembic Pharmaceuticals is known for its high-quality and cost-effective generic drugs and has a significant presence in the Indian market as well as international markets such as the US, Europe, and the Middle East. The company has a strong commitment to research and development, and has several state-of-the-art manufacturing facilities that adhere to international quality standards.

Alembic Pharmaceuticals has reported its financial results for the third quarter of FY23 (Q3FY23). The company reported net sales of Rs 1,509 crores for the quarter, an increase of 19% compared to the same period in the previous year. The company’s net profit for the quarter was Rs 122 crores.

For the 9-month period ending December 31, 2022 (9MFY23), Alembic Pharmaceuticals reported net sales of Rs 4,246 crore, an increase of 9% compared to the same period in the previous year. The net profit for 9MFY23 was Rs 189 crore. Alembic’s India Formulations Business grew by 12% to Rs 545 crore in the quarter, which was better than the industry growth rate. The company’s specialty segment grew by 14%, compared to the industry specialty growth rate of 10% (as per IQVIA).

Alembic’s US Generics business grew by 10% to Rs 432 crore in the quarter, while its ex-US International Formulations business grew by 7% to Rs 206 crore in the quarter. The company received 9 ANDA approvals and 4 ANDA filings during the quarter, bringing the cumulative ANDA approvals to 178 and cumulative ANDA writings to 246.

Alembic Pharmaceuticals has reported strong financial results for Q3FY23 and 9MFY23, with growth in both net sales and net profit. The company’s India Formulations Business and US Generics business performed well in the quarter, reflecting positive performance in the pharmaceutical industry.