Financials Alkem Laboratories Limited

Equities

ALKEM

INE540L01014

Pharmaceuticals

Delayed NSE India S.E. Other stock markets 01:02:38 2024-09-17 am EDT			5-day change	1st Jan Change
6,277.60 ^INR	-1.26%		+0.16%	+20.68%

Sep. 13	Alkem Reportedly Joins $3 Billion Race for JB Chem as Torrent Pauses Talks	CI
Sep. 02	Alkem Laboratories Limited Receives Orders Passed by Statutory Authority Under the Goods and Services Tax Act, 2017	CI

Projected Income Statement: Alkem Laboratories Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	83,444	88,650	106,342	115,993	126,676	137,893	152,243	166,658
Change	-	6.24%	19.96%	9.08%	9.21%	8.85%	10.41%	9.47%
EBITDA ¹	14,734	19,424	20,529	16,094	22,455	26,130	30,103	34,760
Change	-	31.83%	5.69%	-21.6%	39.52%	16.37%	15.21%	15.47%
EBIT ¹	12,206	16,678	17,490	12,990	19,462	22,938	26,617	30,797
Change	-	36.64%	4.87%	-25.73%	49.82%	17.86%	16.04%	15.71%
Interest Paid ¹	-650.6	-589.2	-523.7	-1,074	-1,124	-1,045	-887.1	-848
Earnings before Tax (EBT) ¹	12,598	18,421	18,443	13,048	20,231	25,483	29,671	34,609
Change	-	46.22%	0.12%	-29.25%	55.06%	25.96%	16.43%	16.64%
Net income ¹	11,271	15,850	16,456	9,842	17,958	22,166	25,533	27,689
Change	-	40.63%	3.82%	-40.19%	82.47%	23.43%	15.19%	8.44%
Announcement Date	6/5/20	5/25/21	5/13/22	5/19/23	5/29/24	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	18,495	22,640	21,818	20,490	20,035	23,628	23,180	21,922	27,314	28,000	26,190	24,839	25,764	30,794	30,409	29,026	29,677	34,402	33,239	29,358	30,318	36,856	36,277	32,478
Change	-	22.41%	-3.63%	-6.09%	-2.22%	17.93%	-1.89%	-5.43%	24.6%	2.51%	-6.46%	-5.16%	3.72%	19.52%	-1.25%	-4.55%	2.24%	15.92%	-3.38%	-11.67%	3.27%	16.08%	-1.57%	-10.47%
EBITDA ¹	2,645	4,526	4,533	3,030	5,332	6,005	5,291	2,911	5,929	6,244	4,985	3,372	2,032	4,539	5,990	3,532	3,892	7,467	7,076	4,020	6,086	8,786	8,634	5,974
Change	-	71.11%	0.15%	-33.15%	75.95%	12.63%	-11.89%	-44.98%	103.66%	5.32%	-20.16%	-32.35%	-39.73%	123.34%	31.98%	-41.03%	10.17%	91.87%	-5.24%	-43.19%	51.41%	72.64%	-1.72%	-30.81%
EBIT ¹	-	-	3,938	2,220	4,664	5,302	4,601	2,226	5,223	5,516	4,210	2,541	1,270	3,765	5,206	2,749	3,168	6,728	6,380	3,186	5,282	7,920	7,782	5,110
Change	-	-	-	-43.63%	110.09%	13.7%	-13.23%	-51.62%	134.66%	5.59%	-23.67%	-39.64%	-50.03%	196.51%	38.27%	-47.19%	15.22%	112.4%	-5.17%	-50.07%	65.8%	80.61%	-1.75%	-34.33%
Charge d'intérêts ¹	-	-177.5	-170.4	-141.5	-171	-180.4	-130.7	-107.1	-128.6	-119.7	-105.7	-169.7	-265	-248.5	-270.5	-289.6	-297.7	-303.2	-254.6	-268.6	-291.1	-200.5	-185.5	-171.5
Earnings before Tax (EBT) ¹	2,100	4,099	4,046	2,353	4,928	5,478	5,434	2,582	5,561	5,815	4,639	2,427	1,519	4,023	5,389	2,117	3,528	6,480	6,549	3,673	6,194	8,385	8,276	5,582
Change	-	95.15%	-1.28%	-41.85%	109.41%	11.16%	-0.79%	-52.5%	115.42%	4.57%	-20.22%	-47.69%	-37.41%	164.88%	33.94%	-60.72%	66.71%	83.66%	1.06%	-43.91%	68.61%	82.28%	-1.29%	-32.56%
Net income ¹	1,855	3,708	3,820	1,888	4,220	4,721	4,510	2,400	4,681	5,443	5,257	1,076	1,276	3,308	4,547	709.8	2,867	6,205	5,950	2,936	5,452	7,421	7,236	4,863
Change	-	99.95%	3%	-50.58%	123.56%	11.86%	-4.47%	-46.78%	95.06%	16.27%	-3.42%	-79.53%	18.65%	159.2%	37.44%	-84.39%	303.96%	116.41%	-4.12%	-50.66%	85.71%	84.48%	-2.49%	-32.79%
Announcement Date	8/12/19	11/11/19	2/7/20	6/5/20	8/7/20	11/6/20	2/5/21	5/25/21	8/6/21	11/12/21	2/4/22	5/13/22	8/5/22	11/11/22	2/10/23	5/19/23	8/10/23	11/7/23	2/9/24	5/29/24	8/9/24	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: Alkem Laboratories Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	5,705	-2,569	896	-12,202	-3,654	-23,636	-34,489	-46,691
Change	-	-145.03%	-65.12%	-1,461.83%	-129.95%	-746.89%	-245.92%	-235.38%
Announcement Date	6/5/20	5/25/21	5/13/22	5/19/23	5/29/24	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Alkem Laboratories Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	3,476	1,844	3,280	2,297	2,593	6,192	4,002	4,181
Change	-	-46.94%	77.82%	-29.96%	12.88%	138.82%	-35.37%	4.45%
Free Cash Flow (FCF) ¹	2,374	10,804	7,830	14,528	17,613	13,804	16,794	20,412
Change	-	355.04%	-27.53%	85.53%	21.23%	-21.62%	21.66%	21.54%
Announcement Date	6/5/20	5/25/21	5/13/22	5/19/23	5/29/24	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Alkem Laboratories Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	17.66%	21.91%	19.3%	13.88%	17.73%	18.95%	19.77%	20.86%
EBIT Margin (%)	14.63%	18.81%	16.45%	11.2%	15.36%	16.63%	17.48%	18.48%
EBT Margin (%)	15.1%	20.78%	17.34%	11.25%	15.97%	18.48%	19.49%	20.77%
Net margin (%)	13.51%	17.88%	15.47%	8.48%	14.18%	16.07%	16.77%	16.61%
FCF margin (%)	2.85%	12.19%	7.36%	12.52%	13.9%	10.01%	11.03%	12.25%
FCF / Net Income (%)	21.07%	68.17%	47.58%	147.62%	98.08%	62.28%	65.77%	73.72%
Profitability
ROA	12.42%	14.77%	12.97%	10.12%	12.24%	13.59%	14%	13.77%
ROE	19.43%	23.42%	20.72%	15.92%	18.55%	19.38%	19.38%	17.83%
Financial Health
Leverage (Debt/EBITDA)	0.39x	-	0.04x	-	-	-	-	-
Debt / Free cash flow	2.4x	-	0.11x	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	4.17%	2.08%	3.08%	1.98%	2.05%	4.49%	2.63%	2.51%
CAPEX / EBITDA (%)	23.59%	9.5%	15.98%	14.27%	11.55%	23.7%	13.3%	12.03%
CAPEX / FCF (%)	146.41%	17.07%	41.89%	15.81%	14.72%	44.86%	23.83%	20.48%
Items per share
Cash flow per share ¹	48.93	105.8	92.92	140.7	162.9	145.7	179.8	183.4
Change	-	116.22%	-12.17%	51.44%	15.78%	-10.57%	23.39%	2.02%
Dividend per Share ¹	25	28	34	25	40	48.38	54.05	57.47
Change	-	12%	21.43%	-26.47%	60%	20.95%	11.72%	6.33%
Book Value Per Share ¹	515.3	617	722.5	756.5	862.6	1,001	1,143	1,313
Change	-	19.74%	17.1%	4.7%	14.02%	16.04%	14.15%	14.91%
EPS ¹	94.26	132.6	137.6	82.31	150.2	184.9	213.1	229.9
Change	-	40.64%	3.82%	-40.19%	82.47%	23.11%	15.25%	7.91%
Nbr of stocks (in thousands)	119,565	119,565	119,565	119,565	119,565	119,565	119,565	119,565
Announcement Date	6/5/20	5/25/21	5/13/22	5/19/23	5/29/24	-	-	-