Alkem Laboratories Limited reported a consolidated net profit of ₹23,018 million for the financial year ended March 31, 2026, representing a 6.3% increase from the prior year. The company achieved its highest ever EBITDA of ₹30,052 million, an increase of 19.6% year-on-year, with an EBITDA margin of 20.4%. Revenue from operations for FY26 stood at ₹147,123 million, growing 13.5% compared to FY25. The board has recommended a final dividend of ₹10 per equity share, pending shareholder approval.

For the quarter ended March 31, 2026, the company recorded a consolidated net profit of ₹2,365 million, a decline of 22.7% from ₹3,059 million in the corresponding quarter of the previous year. Revenue from operations for Q4FY26 was ₹36,033 million, up 14.6% year-on-year. The decline in quarterly profit was attributed to exceptional items totaling ₹1,350 million, including a ₹747 million impairment of real estate investments and an incremental liability of ₹602.7 million towards gratuity and leave encashment costs following the finalisation of Central Rules under the Labour Codes. The Audit Committee reviewed the results on May 27, 2026, and the Board approved them on May 28, 2026.

Analyst View: Nomura Maintains Buy

Nomura Holdings has maintained its Buy rating on Alkem Laboratories with a target price of ₹6,890. The brokerage noted that Q4 revenue was in line with estimates, while EBITDA beat expectations by 11%, driven by strong gross margin expansion to 65.4% (+606bps YoY). However, PAT was impacted by one-off exceptional losses of ₹1.35bn related to real estate impairment and labour code changes, along with a higher tax rate. Nomura noted that FY27 guidance was in line to ahead of expectations. The stock currently trades at 23.6x/19.7x FY27F/FY28F adjusted EPS.

Consolidated Financial Results for FY26

The following table presents the consolidated financial performance for the full year:

Standalone Financial Results for FY26

On a standalone basis, the company's financial results for the full year are as follows:

Operational Highlights

Domestic business revenue grew 9.7% year-on-year to ₹98,514 million, while international business revenue increased 22.5% to ₹46,810 million. The US business reported sales of ₹29,845 million, a growth of 20.3%, driven by new launches and volume increases. The company filed 192 ANDAs, 2 NDAs, and 1 BLA with the USFDA as of March 31, 2026, and received approvals for 167 ANDAs and 2 NDAs. The board fixed August 7, 2026, as the record date for the payment of the final dividend, with the 52nd Annual General Meeting scheduled for August 27, 2026. The auditors, Deloitte Haskins & Sells LLP, issued an unmodified opinion on the financial results.

Pipeline and Product Updates

Alkem Labs anticipates the U.S. launch of Tolvaptan by September or October, targeting the second half of the fiscal year in a market characterised by limited competition. On the domestic front, the company launched Semaglutide injectables in March 2026, achieving an 11% market share, with expectations for further growth. Clinical trials for Semaglutide tablets are currently underway, with the company aiming for regulatory approval and a defined market release strategy. Additionally, Alkem Labs plans to transition to the new tax regime by April 2026, revising its tax rate guidance downward to 27%-29% from the earlier range of 35%-38%.

FY27 Outlook

Looking ahead, Alkem Labs expects strong growth across its key markets. The company anticipates high-single-digit growth in the US market, with additional gains expected from currency tailwinds and new product launches. Rest of World (ROW) markets are anticipated to deliver high-teens growth. For FY27, the EBITDA margin is projected to be in the range of 20% to 21%, subject to geopolitical factors and cost clarity. On the domestic front, Alkem Labs aims for business growth to be 1 to 1.5 percentage points higher than the market, indicating double-digit growth, with Semaglutide identified as a key driver for sustaining momentum.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE540L01014/79e16f1f0bb84b2b.pdf

Alkem Laboratories Limited’s Board has approved the re-appointment of Mrs. Madhurima Singh as an Executive Director for a term of five years, effective from December 20, 2026. The decision, taken at the Board meeting held on May 28, 2026, is based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee. The re-appointment is subject to the approval of shareholders at the ensuing Annual General Meeting.

The appointment extends Mrs. Singh’s tenure until December 19, 2031. The disclosure was made to the exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Re-appointment

The following table outlines the key details of the re-appointment:

The company has informed BSE Limited and the National Stock Exchange of India Limited regarding this development. Manish Narang, President - Legal, Company Secretary & Compliance Officer, signed the disclosure.