Alembic Ltd

Alembic Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Alembic Ltd

₹ 88.2 4.17%
15 Apr - close price
alembiclimited.com BSE: 506235 NSE: ALEMBICLTD
About

Alembic Limited is engaged in the businesses of Pharmaceuticals, Real Estate, and Power Assets. The company was started in 1907 as the flagship company of the Alembic Group. In 2010, the company demerged its core pharmaceutical business (formulations) into a wholly-owned subsidiary, Alembic Pharma Ltd and after the demerger, APL became the flagship company of the Alembic Group.
With its registered office in Vadodra, Alembic Ltd currently holds a 28.41% stake in Alembic Pharma Ltd and a 19.01% stake in another group entity Paushak Limited.[1]

Key Points

Business Segments
A) Real Estate (~80% in FY24 vs 59% in FY22): [1] [2] The company is involved in the construction of residential & commercial real estate projects. It also leases commercial properties. [3] Real Estate business experienced strong growth between FY23-FY24 bolstered by strong demand and higher property prices. [4]

Website BSE NSE
  • Market Cap ₹ 2,264 Cr.
  • Current Price ₹ 88.2
  • High / Low ₹ 126 / 70.5
  • Stock P/E 16.4
  • Book Value ₹ 98.8
  • Dividend Yield 2.72 %
  • ROCE 18.1 %
  • ROE 17.0 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.89 times its book value
  • Market value of investments Rs.5,490 Cr. is more than the Market Cap Rs.2,264 Cr.
  • Company has been maintaining a healthy dividend payout of 60.4%
  • Company's working capital requirements have reduced from 86.7 days to 58.4 days

Cons

  • Tax rate seems low
  • Company has a low return on equity of 12.4% over last 3 years.
  • Earnings include an other income of Rs.73.1 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Realty Realty Residential, Commercial Projects

Part of BSE Allcap BSE Consumer Discretionary BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
30 36 36 31 38 48 49 51 56 58 48 54 72
20 23 26 22 25 24 30 33 30 32 29 32 45
Operating Profit 10 13 10 10 13 23 19 18 26 26 19 23 27
OPM % 33% 35% 28% 31% 35% 49% 40% 36% 46% 45% 39% 42% 37%
2 -9 3 48 2 2 2 66 4 3 3 65 2
Interest 0 0 0 0 0 0 0 1 1 0 0 0 0
Depreciation 2 2 2 2 3 1 2 3 3 3 3 3 3
Profit before tax 11 2 11 56 13 24 19 81 27 26 19 84 25
Tax % 1% -72% 13% 8% 10% 12% 9% 5% 4% 11% 10% 10% 12%
10 4 9 51 11 21 17 77 26 23 17 76 22
EPS in Rs 0.41 0.17 0.37 2.00 0.44 0.81 0.66 2.98 1.00 0.89 0.67 2.95 0.87
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
154 144 134 147 125 124 74 72 76 123 152 214 232
126 134 128 140 114 106 70 62 63 85 96 125 138
Operating Profit 28 10 6 7 11 18 4 11 13 38 56 90 94
OPM % 18% 7% 5% 5% 9% 15% 5% 15% 17% 31% 37% 42% 41%
18 21 25 25 37 29 93 10 89 54 55 75 73
Interest 4 1 0 0 0 0 0 0 0 0 1 2 2
Depreciation 8 6 6 5 4 3 3 4 4 6 7 10 11
Profit before tax 33 23 25 27 44 45 94 17 97 85 103 152 154
Tax % 12% -3% 2% -3% 5% 8% 0% 19% 12% 7% 10% 7%
30 24 25 27 42 41 94 13 86 79 93 142 138
EPS in Rs 1.11 0.90 0.93 1.03 1.56 1.60 3.64 0.52 3.34 3.09 3.62 5.53 5.38
Dividend Payout % 14% 17% 16% 19% 13% 12% 16% 38% 54% 71% 66% 43%
Compounded Sales Growth
10 Years: 4%
5 Years: 24%
3 Years: 41%
TTM: 14%
Compounded Profit Growth
10 Years: 19%
5 Years: 9%
3 Years: 20%
TTM: -1%
Stock Price CAGR
10 Years: 11%
5 Years: -3%
3 Years: 13%
1 Year: -15%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 12%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 53 53 53 53 53 51 51 51 51 51 51 51 51
Reserves 177 211 295 314 395 361 432 775 962 778 757 802 2,484
22 0 9 0 0 0 0 0 0 0 9 14 13
104 91 64 81 73 57 51 109 130 119 128 142 179
Total Liabilities 356 356 421 449 522 470 534 936 1,144 948 946 1,010 2,727
178 169 146 171 179 209 225 261 294 318 366 406 426
CWIP 2 2 0 0 0 0 3 6 0 0 1 0 0
Investments 21 35 150 189 276 205 197 581 726 503 411 414 2,115
155 149 124 89 67 55 109 88 124 127 168 190 185
Total Assets 356 356 421 449 522 470 534 936 1,144 948 946 1,010 2,727

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-10 22 10 52 24 22 5 -1 -22 35 25 81
18 5 -5 -47 -23 68 57 -35 23 11 23 -22
-8 -25 -5 -5 -3 -89 -6 -15 -6 -46 -48 -58
Net Cash Flow -0 2 -0 -0 -2 1 56 -52 -5 -0 0 2
Free Cash Flow -11 22 11 38 14 -1 -16 -44 -55 10 -31 30
CFO/OP -25% 222% 172% 771% 246% 145% 187% 8% -102% 108% 42% 107%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 66 122 76 54 74 40 44 66 72 67 42 47
Inventory Days 1,924 880 659 438 247 289 411 2,112 2,885 5,118 3,694
Days Payable 659 200 144 128 125 202 151 675 635 993 1,213
Cash Conversion Cycle 1,330 801 591 364 195 126 304 1,504 2,322 4,191 2,523 47
Working Capital Days 149 235 172 39 20 13 28 96 231 127 75 58
ROCE % 16% 9% 8% 8% 10% 10% 21% 2% 10% 10% 12% 18%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Investment Stake in Alembic Pharmaceuticals Ltd (APL)
%

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Number of Equity Shares held in Paushak Ltd
Number
API Production Capacity (Erythromycin Estolate)
MT/Month
Power Generation - Co-generation Plant
Lakh Units
Power Generation - Windmills
Lakh Units
API Production Volume (Erythromycin Estolate - Peak Month)
MT
Commercial Leasable Area (New Office Building) Pre-leased
%
Power Generation - Co-generation Plant and Windmills
Lakh Units
Project Sales Progress - The Garden
%
Project Sales Progress - The Villa
%
Project Sales Progress - Townhouse 24
%
Renewable Power Consumption (API Operations)
GJ
R&D Expenditure (Percentage of Turnover)
%

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
70.88% 70.88% 70.88% 70.88% 70.88% 70.88% 70.88% 70.88% 70.88% 70.88% 70.88% 70.88%
0.72% 0.85% 0.89% 1.07% 1.42% 1.97% 1.78% 1.65% 1.50% 1.38% 1.29% 1.25%
3.93% 3.40% 0.04% 0.04% 0.04% 0.08% 0.06% 0.05% 0.05% 0.05% 0.05% 0.05%
24.46% 24.87% 28.17% 28.02% 27.66% 27.07% 27.27% 27.41% 27.57% 27.68% 27.78% 27.81%
No. of Shareholders 81,73282,94794,01299,13098,4781,02,2491,07,4231,06,7321,07,5101,06,4701,04,1031,02,008

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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