Alembic India branded revenue rises 14% on specialty growth

Alembic Pharmaceuticals Ltd.’s India branded business grew 14% year on year to Rs 725 crore in Q2 FY27, as specialty revenue reached Rs 379 crore and animal health rose 23% to Rs 169 crore, while acute revenue was broadly unchanged at Rs 177 crore. The quarter’s growth came primarily from specialty and animal health rather than acute products.

How did Alembic’s India branded segments perform in Q2 FY27?

Alembic’s India branded revenue increased by Rs 86 crore from Rs 639 crore in Q2 FY26 to Rs 725 crore in Q2 FY27, with specialty and animal health providing the increase. Specialty sales rose by Rs 56 crore to Rs 379 crore, while animal-health sales added Rs 31 crore to Rs 169 crore. Acute revenue declined by Rs 1 crore to Rs 177 crore.

Specialty was the largest disclosed segment at Rs 379 crore, representing more than half of India branded revenue in Q2 FY27. Alembic reported that its Human Health portfolio, covering specialty and acute businesses, grew 11% year on year. Management also said specialty grew by about 17%, outperformed the market and narrowed the Human Health portfolio’s growth gap versus the market, without quantifying that gap.

The Q2 FY27 sales mix included anti-infective at 17%, gynecology at 14%, cardiology at 13%, gastroenterology at 10% and anti-diabetic products at 6%. Cough and cold accounted for 8%, other categories for 9%, and animal health for 23%. This mix places the 23% animal-health contribution ahead of each individual human-health therapeutic category listed in the presentation.

What does Alembic’s India revenue trend show over five years?

Alembic’s India branded revenue increased from Rs 1,926 crore in FY22 to Rs 2,458 crore in FY26, a stated compound annual growth rate, or CAGR, of 6%. Revenue rose in each fiscal year shown, reaching Rs 2,063 crore in FY23, Rs 2,200 crore in FY24 and Rs 2,339 crore in FY25 before the FY26 result.

The annual increase was Rs 139 crore between FY24 and FY25, then Rs 119 crore between FY25 and FY26. By comparison, Q2 FY27 revenue was Rs 86 crore above Q2 FY26. The 14% quarterly rate is therefore higher than the historical 6% CAGR disclosed for FY22 through FY26, although the source does not provide a full-year FY27 domestic target.

India branded business accounted for 28% of Alembic’s total Q2 FY27 revenue of Rs 2,603 crore. Total revenue grew 36% year on year, compared with 77% growth in US revenue, 39% in active pharmaceutical ingredients, or APIs, and 12% in Ex-US revenue. India’s growth was below the company-wide rate, but it was the second-largest business share after US formulations at 39%.

Which brands and prescriptions support Alembic’s India business?

Alembic ranked 20th in the Indian Pharmaceutical Market with a 1.1% share in the moving annual total, or MAT, to September 2026 cited in the presentation. It also reported six flagship brands with annual sales above Rs 100 crore and a sales operation of more than 5,800 medical representatives.

The presentation listed seven brands ranked first in their respective molecule groups in Q2 FY27. These were Azithral with 31.0% market share, Althrocin with 88.2%, Crina-NCR with 32.9%, Roxid with 95.4%, Deltone with 50.6%, Gerijoint with 35.0% and Elata with 56.4%. Among the number-two ranked brands, Cetanil held 6.9%, Gestofit SR 19.4%, Lactonic 20.6% and Estroplus 36.5%.

Prescription volume rose to 137.6 million in MAT September 2026 from 133.2 million in September 2025, an increase of 4.4 million. The number of prescribers increased from 0.244 million to 0.249 million over the same period, and Alembic ranked 17th by prescription volume. These measures show that prescription activity rose even as the company held a 1.1% Indian Pharmaceutical Market share.

What is animal health contributing to Alembic’s growth mix?

Animal health generated Rs 169 crore in Q2 FY27, up from Rs 138 crore in Q2 FY26, and was the fastest-growing disclosed domestic segment at 23%. Its Rs 31 crore increase accounted for about 36% of the India branded business’s Rs 86 crore year-on-year revenue increase, while acute revenue fell slightly.

Animal-health revenue rose from Rs 232 crore in FY22 to Rs 519 crore in FY26, representing a stated 22% CAGR. The business recorded Rs 281 crore in FY23, Rs 355 crore in FY24 and Rs 431 crore in FY25. This FY22-to-FY26 increase of Rs 287 crore preceded the 23% growth disclosed for Q2 FY27.

Antibiotics represented 38% of Q2 FY27 animal-health sales and feed supplements represented 33%, followed by tonic and supportive therapy at 11% each and antiparasitic products at 7%. Alembic operates in livestock, poultry and companion-animal segments, and identified Sharkferolol, Moxel, Xceft and Mcft among brands supporting its haematinics and antibiotics positions.

Alembic reported six animal-health brands with annual sales above Rs 30 crore, three with sales of Rs 20 crore to Rs 30 crore, and five with sales of Rs 10 crore to Rs 20 crore. The portfolio structure aligns with the segment’s Rs 169 crore quarterly revenue and 23% share of India branded sales in Q2 FY27. The presentation does not disclose sales for individual animal-health brands.

Conclusion

Alembic’s Q2 FY27 India branded result reflects a changing growth mix: specialty sales increased by Rs 56 crore and animal health by Rs 31 crore, while acute sales were Rs 1 crore lower year on year. Together, those movements lifted domestic revenue 14% to Rs 725 crore, alongside 137.6 million prescriptions in MAT September 2026.

The next disclosures will indicate whether specialty maintains management’s reported growth of about 17% and whether animal health sustains its 23% expansion. Management also said the Human Health portfolio’s growth gap against the market was narrowing, but did not quantify the gap or provide a FY27 India branded revenue target.