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Motilal Oswal Report
Alembic Pharmaceuticals Ltd. delivered a beat on earnings for Q2 FY21, led by strong traction in the Non-U.S./active pharmaceutical ingredient segment and a superior product mix.
India Domestic Formulations (DF) is back on the growth trajectory. The company also remains on track to start filing oncology injectables for the U.S. market in H2 FY21.
We raise our profit after tax estimate by 18% for FY21, factoring in superior performance in the Non-U.S./API segment and better margins.
We factor in increased opex for new facilities and hence maintain our profit after tax estimate for FY22.
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