Alembic Pharmaceuticals Q4 FY25: Revenue +17%, dividend ₹11

What Alembic reported for Q4 FY25

Alembic Pharmaceuticals Limited reported consolidated financial results for the quarter ended March 31, 2025 (Q4 FY25), showing double-digit growth in revenue but pressure on profit growth. Consolidated revenue from operations rose 17% year-on-year to ₹1,770 crore, supported by growth in India branded formulations and international businesses. EBITDA increased 9% to ₹286 crore, keeping the EBITDA margin steady at 16% of sales. Profit before tax (PBT) rose 5% to ₹192 crore. Net profit for the quarter was reported at ₹157 crore, with management attributing the outcome to higher tax provision.

Separate reporting in the same set of materials also referred to a 12.1% year-on-year decline in net profit to around ₹156 crore to ₹157 crore, despite the revenue increase. Another disclosure cited total revenue of ₹1,783 crore for the quarter, which is higher than revenue from operations and typically reflects other income components.

Q4 FY25 financial snapshot

The quarter was characterised by operating profitability holding up while bottom-line growth lagged revenue growth. EBITDA at ₹286 crore translated to a 16% margin, consistent with management’s commentary. PBT at ₹192 crore grew at a slower pace than EBITDA, and net profit was stated at ₹157 crore due to a higher tax provision.

Earnings per share (EPS) for the quarter stood at ₹7.98, compared with ₹9.07 in the corresponding quarter of the previous year. The company also referenced the role of other income and deferred tax in year-on-year comparisons.

FY25 performance: revenue up 7%, net profit ₹583 crore

For the full year FY25, Alembic reported total revenue of ₹6,672 crore, up 7% from the previous year. Full-year EBITDA was ₹1,053 crore, also at 16% of sales, and grew 10% year-on-year. PBT for FY25 increased 10% to ₹676 crore. Net profit for the year was ₹583 crore.

Full-year EPS for FY25 was ₹29.68 per share versus ₹31.33 per share in the previous corresponding year, with management linking the comparison to other income and deferred tax.

Segment performance: India, US, Ex-US and APIs

The India branded business grew 8% year-on-year in Q4 FY25, with topline of ₹545 crore. The company commentary described improved performance backed by specialty therapies. A published table in the same material showed India revenue at ₹2,339 crore for FY25 versus ₹2,200 crore for FY24, a 6% increase.

In the international portfolio, the US generics business grew 20% year-on-year to ₹508 crore in Q4 FY25 and rose 13% to ₹1,957 crore for FY25. The Ex-US generics (RoW) business grew sharply, up 43% year-on-year to ₹375 crore in the quarter, and increased 18% to ₹1,243 crore for FY25.

The API business grew 4% in Q4 FY25 to ₹342 crore. For the full year, the API business was stated to have declined 9% to ₹1,133 crore.

Product and portfolio updates mentioned on the call

Management highlighted that the company made four launches in Q4 FY25 and 14 launches in total during FY25 within the India branded business. It also called out animal health as a “bright spot” over multiple quarters, with the animal health business growing 19% in Q4 and 21% for the year.

While these points were discussed alongside quarterly performance, the disclosures did not quantify the revenue contribution from launches or from the animal health portfolio within the consolidated segment totals.

Dividend announcement: ₹11 per share

At the board meeting referenced in the materials, the company announced a dividend of ₹11 per equity share for the financial year, described as 550%. The announcement came alongside the Q4 and annual results for the year ended March 2025.

R&D spending: FY25 actuals and guidance context

On the earnings call, the company discussed R&D in the context of project timing and filings. It said the guidance at the start of the year was about ₹550 crore for R&D, while R&D spend for FY25 was mentioned at about ₹522 crore. Another call remark indicated budgeting in the range of ₹400 crore to ₹450 crore, without specifying a detailed split by program in the excerpted text.

Outlook commentary: US mid-teens, India aims for double digit

Management said it expects the US business to grow in the mid to high teens, citing visibility around launches and the uncertainty of price erosion. It added that around 15% growth would be a “good” outcome based on what it was seeing.

For the India business, commentary suggested a return to 8% to 10% growth, while also noting potential ongoing softness in the anti-infective or antibiotic segment that could keep growth to single digits at times. In the same discussion, management said it was positive about achieving double-digit growth for the full year, with possible quarter-to-quarter variability due to factors such as the onset of monsoon.

Key numbers at a glance

Market impact: what these results signal

The results point to a quarter where Alembic’s topline growth outpaced profit growth, even as EBITDA margin stayed at 16%. The segment disclosures show that US generics and Ex-US generics delivered strong year-on-year momentum in Q4 FY25, while the API business grew modestly in the quarter but was stated to have declined for the full year. For investors tracking the domestic franchise, the India branded business continued to grow in Q4 and FY25, supported by launches and specialty therapy performance as described by management.

The dividend of ₹11 per share provides an additional data point on shareholder payouts following the annual board meeting announcement. Management’s stated expectations of mid-teens growth in the US and double-digit ambition in India, with monsoon-linked variability, set the near-term narrative around execution rather than new financial guidance in the provided excerpt.

Conclusion

Alembic Pharmaceuticals closed Q4 FY25 with 17% growth in revenue from operations to ₹1,770 crore, EBITDA of ₹286 crore at a 16% margin, and net profit of ₹157 crore, alongside a ₹11 per share dividend announcement. For FY25, revenue rose 7% to ₹6,672 crore and net profit was ₹583 crore. In the near term, management commentary focuses on mid-teens growth potential in the US generics business and a plan to push India branded growth back to 10% plus, while acknowledging quarter-to-quarter variability tied to seasonality.