Alembic Pharmaceuticals Limited (APLLTD.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+3.1%

₹832.39

vs ₹807.05 price

Levered DCF

₹429.31

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	19.32×	30.22×	32.2×	28.53×	27.98×	16.31×	12.15×	17.48×
P/B	2.3×	3.4×	4.12×	2.23×	2.78×	3.69×	3.13×	3.76×
P/S	1.77×	2.64×	3.18×	1.73×	2.75×	3.47×	2.19×	2.6×
EV / EBITDA	12.9×	18.64×	21.67×	14.59×	17.42×	12.96×	9.32×	13.01×
Gross margin	45.1%	71.8%	71.2%	68.6%	71.8%	75.1%	76.3%	73.8%
Operating margin	10.9%	40.5%	40.3%	35.0%	34.5%	43.2%	42.6%	41.2%
Net margin	9.2%	8.7%	9.9%	6.1%	9.8%	21.3%	18.0%	14.9%
Current ratio	1.76×	1.69×	2.12×	1.78×	1.67×	2.07×	1.41×	1.31×
Debt / equity	0.25×	0.24×	0.11×	0.17×	0.14×	0.12×	0.57×	0.42×
Interest coverage	8.54×	34.3×	44.64×	39.48×	103.26×	145.54×	72.2×	88.15×
Dividend yield	1.7%	1.2%	0.8%	2.0%	1.9%	0.0%	3.2%	0.9%
Payout ratio	32.0%	37.1%	25.5%	57.5%	52.8%	0.0%	39.3%	15.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.9%	11.2%	12.8%	7.8%	9.9%	22.6%	25.7%	21.5%
Return on invested capital	10.4%	33.8%	44.9%	36.7%	25.2%	32.8%	30.7%	32.7%
Return on assets	7.7%	7.5%	9.6%	5.5%	7.3%	17.1%	13.8%	12.2%
Free cash flow yield	2.0%	-2.7%	2.4%	2.9%	0.9%	4.3%	-2.8%	0.5%
Earnings yield	5.2%	3.3%	3.1%	3.5%	3.6%	6.1%	8.2%	5.7%
Enterprise value	₹142.6B	₹188B	₹202.3B	₹104B	₹152.3B	₹191.8B	₹118.3B	₹111.4B
Net debt / EBITDA	1.11×	1.16×	0.42×	0.91×	0.75×	0.33×	1.39×	1.09×
Cash conversion cycle (days)	224	350	245	231	276	247	257	160