Alembic Pharma reported muted nos, with sales growing by 8% and EPS largely being flat. They have started launching injectable, onco and derma products in US. Their non-US market is doing very well. Concall notes below.
FY24Q2
- 12MW solar plant commissioned in October 2023, ROI of 18-20%
- Animal health business has now scaled to 98 cr. quarterly run rate (32% growth). Business has grown at 18% CAGR in last 5 years. Established a new division with 350 people. Margins are a tad lower than corporate level profitability
- New facilities contributed 60-70 cr. to quarterly expenses
- Have seen very good pickup in oncology product in US, injectable product has also seen good market share gains without much price erosion
- Out of 20 planned US launched, 10-12 will be OSDs and remaining will be ophthalmic injectable and derma products
- US filing rate has reduced from 20-25 products to 15 now (will reduce R&D spends)
- Will launch 10+ products in US in H2
Disclosure: Invested (position size here, bought shares in last-30 days)