Financials Alkem Laboratories Limited

Equities

ALKEM

INE540L01014

Pharmaceuticals

Market Closed - NSE India S.E. Other stock markets 06:49:44 2026-01-22 am EST			5-day change	1st Jan Change
5,758.50 ^INR	+1.80%		-1.23%	+4.58%

04:46am	Alkem Labs gets tax demand and penalty for 23.5 million rupees each	RE
Jan. 13	Alkem Labs gets tax demand of 38.3 million rupees, tax penalty of 3.8 million rupees	RE

Projected Income Statement: Alkem Laboratories Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	88,650	106,342	115,993	126,676	129,645	145,507	160,830	176,487
Change	-	19.96%	9.08%	9.21%	2.34%	12.24%	10.53%	9.74%
EBITDA ¹	19,424	20,529	16,094	22,455	25,122	29,256	33,736	38,335
Change	-	5.69%	-21.6%	39.52%	11.88%	16.46%	15.31%	13.63%
EBIT ¹	16,678	17,490	12,990	19,462	21,550	25,422	29,549	34,024
Change	-	4.87%	-25.73%	49.82%	10.73%	17.97%	16.23%	15.14%
Interest Paid ¹	-589.2	-523.7	-1,074	-1,124	-1,217	-1,174	-1,026	-923
Earnings before Tax (EBT) ¹	18,421	18,443	13,048	20,231	25,270	28,841	33,674	39,034
Change	-	0.12%	-29.25%	55.06%	24.91%	14.13%	16.76%	15.92%
Net income ¹	15,850	16,456	9,842	17,958	21,655	24,645	22,615	26,492
Change	-	3.82%	-40.19%	82.47%	20.59%	13.81%	-8.24%	17.14%
Announcement Date	5/25/21	5/13/22	5/19/23	5/29/24	5/29/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	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	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	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	34,147	33,743	31,438	33,711	37,616	37,607	34,564
Change	-	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%	12.63%	-1.18%	-6.83%	7.23%	11.58%	-0.02%	-8.09%
EBITDA ¹	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	7,528	7,594	3,913	7,408	8,345	8,001	5,725
Change	-	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%	23.69%	0.87%	-48.47%	89.34%	12.64%	-4.12%	-28.44%
EBIT ¹	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	6,739	6,741	2,788	6,532	7,382	6,734	4,749
Change	-	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%	27.6%	0.03%	-58.64%	134.28%	13.02%	-8.78%	-29.47%
Charge d'intérêts ¹	-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	-281.4	-360.3	-284.2	-297.8	-280	-236	-241
Earnings before Tax (EBT) ¹	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	7,803	7,311	3,963	7,710	8,312	6,978	5,349
Change	-	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%	25.98%	-6.3%	-45.79%	94.53%	7.81%	-16.05%	-23.34%
Net income ¹	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	7,020	6,258	3,059	6,643	7,252	6,496	4,449
Change	-	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%	28.76%	-10.85%	-51.13%	117.18%	9.17%	-10.42%	-31.52%
Announcement Date	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	11/13/24	2/7/25	5/29/25	8/12/25	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: Alkem Laboratories Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-2,569	896	-12,202	-3,654	-5,003	-27,668	-40,503	-56,722
Change	-	134.88%	-1,461.83%	70.05%	-36.92%	-453.04%	-46.39%	-40.04%
Announcement Date	5/25/21	5/13/22	5/19/23	5/29/24	5/29/25	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Alkem Laboratories Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	1,844	3,280	2,297	2,593	6,756	7,982	4,936	4,926
Change	-	77.82%	-29.96%	12.88%	160.57%	18.14%	-38.16%	-0.2%
Free Cash Flow (FCF) ¹	10,804	7,830	14,528	17,613	12,781	13,039	17,521	21,016
Change	-	-27.53%	85.53%	21.23%	-27.43%	2.02%	34.37%	19.95%
Announcement Date	5/25/21	5/13/22	5/19/23	5/29/24	5/29/25	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Alkem Laboratories Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	21.91%	19.3%	13.88%	17.73%	19.38%	20.11%	20.98%	21.72%
EBIT Margin (%)	18.81%	16.45%	11.2%	15.36%	16.62%	17.47%	18.37%	19.28%
EBT Margin (%)	20.78%	17.34%	11.25%	15.97%	19.49%	19.82%	20.94%	22.12%
Net margin (%)	17.88%	15.47%	8.48%	14.18%	16.7%	16.94%	14.06%	15.01%
FCF margin (%)	12.19%	7.36%	12.52%	13.9%	9.86%	8.96%	10.89%	11.91%
FCF / Net Income (%)	68.17%	47.58%	147.62%	98.08%	59.02%	52.91%	77.47%	79.33%
Profitability
ROA	14.77%	12.97%	10.12%	12.24%	13.02%	13.49%	13.04%	17.24%
ROE	23.42%	20.72%	15.92%	18.55%	19.42%	18.99%	15.5%	15.92%
Financial Health
Leverage (Debt/EBITDA)	-	0.04x	-	-	-	-	-	-
Debt / Free cash flow	-	0.11x	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.08%	3.08%	1.98%	2.05%	5.21%	5.49%	3.07%	2.79%
CAPEX / EBITDA (%)	9.5%	15.98%	14.27%	11.55%	26.89%	27.28%	14.63%	12.85%
CAPEX / FCF (%)	17.07%	41.89%	15.81%	14.72%	52.86%	61.22%	28.17%	23.44%
Items per share
Cash flow per share ¹	105.8	92.92	140.7	162.9	160	163.7	147	179.4
Change	-	-12.17%	51.44%	15.78%	-1.81%	2.31%	-10.21%	22.06%
Dividend per Share ¹	28	34	25	40	45	54.18	53.79	61.11
Change	-	21.43%	-26.47%	60%	12.5%	20.41%	-0.73%	13.61%
Book Value Per Share ¹	617	722.5	756.5	862.6	1,002	1,143	1,280	1,440
Change	-	17.1%	4.7%	14.02%	16.22%	14.06%	11.92%	12.52%
EPS ¹	132.6	137.6	82.31	150.2	181.1	205.7	189.7	218.3
Change	-	3.82%	-40.19%	82.47%	20.59%	13.55%	-7.75%	15.06%
Nbr of stocks (in thousands)	119,565	119,565	119,565	119,565	119,565	119,565	119,565	119,565
Announcement Date	5/25/21	5/13/22	5/19/23	5/29/24	5/29/25	-	-	-