ALKEM · Healthcare
Alkem Laboratories Ltd. reported revenue of ₹3,415 cr for July to September 2024, −0.7% on the year and +12.6% on the quarter.
Operating profit (EBITDA) was ₹753 cr, a margin of 22.0%, +33 bps on the year and +196 bps on the quarter. It is the widest margin of the last 6 quarters (range 13.1% to 22.0%). Operating costs grew −1.2%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹702 cr, +14.1% on the year and +27.6% on the quarter, with earnings per share of ₹57.60. Profit before other income, one-offs and tax grew 0.6%, so 14 points of the headline growth came from outside the core business. The tax rate of 10% is in line with its recent average.
On earnings per share of ₹177.51 over the last four quarters, the stock at ₹5,302.00 trades at 29.9 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,440 cr | ₹3,324 cr | ₹2,936 cr | ₹3,032 cr | ₹3,415 cr | ₹3,374 cr | ₹3,144 cr | ₹3,371 cr | ₹4,001 cr | ₹3,737 cr | ₹3,603 cr | ₹3,740 cr |
| YoY | — | — | — | +2% | −1% | +2% | +7% | +11% | +17% | +11% | +15% | +11% |
| EBITDA margin | 21.7% | 21.3% | 13.7% | 20.1% | 22.0% | 22.5% | 12.4% | 21.9% | 23.0% | 22.2% | 14.3% | 20.5% |
| Other income, % of PBT | 1% | 6% | 21% | 19% | 17% | 13% | 37% | 19% | 12% | 12% | 15% | 20% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 5% | 8% | 17% | 11% | 10% | 12% | 18% | 13% | 13% | 16% | 40% | 32% |
| Net profit | ₹615 cr | ₹604 cr | ₹304 cr | ₹550 cr | ₹702 cr | ₹641 cr | ₹322 cr | ₹668 cr | ₹779 cr | ₹653 cr | ₹251 cr | ₹521 cr |
| YoY | — | — | — | +91% | +14% | +6% | +6% | +21% | +11% | +2% | −22% | −22% |
| Core profit YoY | — | — | — | +74% | +1% | +4% | −14% | +25% | +23% | +8% | +43% | −0% |
| EPS | ₹51.90 | ₹49.76 | ₹24.55 | ₹45.60 | ₹57.60 | ₹52.34 | ₹25.58 | ₹55.56 | ₹63.99 | ₹53.19 | ₹19.78 | ₹43.49 |
| Flags | · | · | · | 1 | ✓ | ✓ | 2 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Alkem Laboratories Ltd. reported revenue of ₹3,415 cr (−0.7% on the year) and net profit of ₹702 cr (+14.1% on the year) for July to September 2024.
Profit before other income, exceptional items and tax moved +0.6% on the year, against +14.1% for reported profit.
None of the 7 checks that could run raised a question.
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