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Alembic Pharmaceuticals Limited (APLLTD) Fair Value & Analysis

Healthcare · IN · Market cap ₹156B (≈ $1.7B) · ISIN INE901L01018

What is Alembic Pharmaceuticals Limited really worth?

AP Alembic Pharmaceuticals Limited APLLTD · BSE
Price₹807.80
Fair Value₹525.00
Upside−35.0%
Quality56/100

A solid business, but trading 54% above our fair value of ₹525.00.

As of Aug 23, 2026, the fair value of Alembic Pharmaceuticals Limited is ₹525.00 per share against a price of ₹807.80, so the fair value sits 35% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +6.0 %/yr)
!Thin margins · 9.2% net margin
!Narrow moat 43/100

For context

·1.49% dividend yield
Evidence: High Range ₹289.91 – ₹809.86

Fair value as of: Aug 23, 2026

From 24 valuation models · updated 14 days ago

Share price +1.3% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide (₹289.91 to ₹809.86). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹1,217 ₹446.35 Fair Value ₹525.00 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹446.35 – ₹1,217 · fair‑value band ₹289.91 – ₹809.86 · the ₹807.80 price screens above the ₹525.00 fair value. Dashed = 300-day average. As of Aug 23, 2026.

Full chart & analysis →

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Analysis

Alembic Pharmaceuticals Limited (APLLTD) currently trades at ₹807.80, while our model-based Fair Value estimate is ₹525.00, implying the stock looks roughly 53.9% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Healthcare sector. Bull case: the Multiples group reads highest at a median of ₹583.58 per share, and 1 of the 24 models we run sit above the ₹807.80 price. Bear case: the Asset-Based group reads lowest at ₹193.43, and 23 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Alembic Pharmaceuticals Limited generated revenue of ₹73.4B at a net margin of 9.2%. Revenue grew 4.4% year over year. It earns a return on equity of 12.4%. Net debt stands at ₹11.6B. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹289.91 (bear case) to ₹809.86 (bull case); at ₹807.80, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −35%, APLLTD screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹15.23 per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence ₹178.31 ₹291.65 ₹473.63 79
Growth DCF ₹179.69 ₹290.17 ₹466.62 77
Owner Earnings ₹305.99 ₹502.24 ₹817.37 75
All 24 models by family
DCF Models
FCF DCF best evidence ₹178.31 ₹291.65 ₹473.63 79
Owner Earnings ₹305.99 ₹502.24 ₹817.37 75
5Y Revenue Exit ₹300.96 ₹534.09 ₹843.50 71
5Y EBITDA Exit ₹420.96 ₹767.21 ₹1,188 73
5Y P/E Exit ₹401.14 ₹728.70 ₹1,088 69
10Y Revenue Exit ₹244.21 ₹448.88 ₹746.11 65
10Y EBITDA Exit ₹333.73 ₹614.11 ₹1,018 66
10Y P/E Exit ₹320.90 ₹586.81 ₹939.15 62
Earnings-Based
Graham-Dodd ₹233.43 ₹862.63 ₹1,165 64
Lynch FV ₹206.66 ₹295.22 ₹383.79 61
PEG = 1.0 ₹206.66 ₹295.22 ₹383.79 57
EPV ₹270.56 ₹315.02 ₹353.93 74
Multiples
P/E Multiple ₹566.42 ₹755.23 ₹944.03 63
P/S Multiple ₹437.69 ₹583.58 ₹729.48 58
P/B Multiple ₹437.69 ₹583.58 ₹729.48 55
EV/EBIT ₹525.25 ₹699.07 ₹872.89 66
EV/EBITDA ₹603.39 ₹803.25 ₹1,003 67
EV/Revenue ₹375.97 ₹535.47 ₹694.98 53
Asset-Based
NCAV (Graham) ₹144.35 ₹193.43 ₹288.70 54
Growth DCF
Growth DCF ₹179.69 ₹290.17 ₹466.62 77
Rev-Margin DCF ₹300.96 ₹527.89 ₹800.05 71
Economic Profit
Residual Income ₹266.67 ₹315.13 ₹638.42 72
ROIC Compounder ₹270.56 ₹337.48 ₹445.22 72
Growth Earnings
Growth-Adj P/E ₹396.63 ₹566.61 ₹736.59 67

Widest divergence: Multiples (₹583.58) versus Asset-Based (₹193.43). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 23.5
P/S ratio 2.20 P/E × margin
EPS (TTM) ₹34.32 price ÷ EPS = P/E 23.5
Dividend yield 1.5% payout 35.0%
Net margin 9.4% FY2025
Return on equity 12.4% TTM
More key figures
Profitability
Return on assets (EBIT) 8.9% avg 5y
Operating margin 7.4% TTM
Growth
Revenue (TTM) ₹73.4B TTM
Revenue growth (YoY) +4.4% 3y avg +8.5%
EPS growth (YoY) +29.2%
Balance sheet & cash flow
Free cash flow ₹2.9B FY2025
Net debt ₹11.6B FY2025 · ≈ 4.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 52

Profitability 61
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Alembic Pharmaceuticals Limited develops, manufactures, and markets pharmaceutical products in India and internationally.

Full company description

Alembic Pharmaceuticals Limited develops, manufactures, and markets pharmaceutical products in India and internationally. The company provides branded specialty medicines in various therapeutic areas, such as cardiology, gynecology, gastrology, ophthalmology, dermatology, nephrology/urology, orthopedics, anti-infective, cold and cough, veterinary, and anti-diabetic; generics formulations in oral solids, oncology oral solids and injectables, general injectables and ophthalmic products, dermatology, and oral suspension; and active pharmaceutical ingredients. It also exports its products. The company was founded in 1907 and is headquartered in Vadodara, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Alembic Pharmaceuticals Limited reported revenue of ₹72.1B in FY2025 versus ₹53.1B in FY2021, a compound +8.0%/yr. Reported net income was ₹6.7B in FY2025, compounding +6.7%/yr from FY2021.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
₹72.1B
Latest YoY
+8.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.0%
Avg. revenue growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.6%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−3.3% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−4.8%
Dividend yield1.5%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −4.8% vs 10Y 4.8%, flattening
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.24.0% (2020) → 11.1% (2025) · falling
Worst earnings drop70% (2022) · in INR
Revenue +8.0%/yr
FY21 ₹53.1B
FY22 ₹56.5B
FY23 ₹62.3B
FY24 ₹66.7B
FY25 ₹72.1B
Net income +6.7%/yr
FY21 ₹5.2B
FY22 ₹3.4B
FY23 ₹6.2B
FY24 ₹5.8B
FY25 ₹6.7B

APLLTD screens 54% overvalued. Compare with Merck KGaA →

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Cite: Fair Value Calculator (2026). "Alembic Pharmaceuticals Limited Fair Value". https://www.fairvalue-calculator.com/stock/APLLTD.BSE

Peer Group

Drug Manufacturers - Specialty & Generic · 609 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside −35% · Below median
Return on equity (TTM) 12% · Above median
Return on assets 6% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 7% · Below median
Revenue growth 4% · Above median
Dividend yield (TTM) 1.5% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 23.5× · Cheaper than median
P/B 2.75× · Pricier than median
P/S (TTM) 2.13× · Pricier than median
P/FCF 0.6× · Cheaper than median
EV/EBITDA 14.2× · Pricier than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €140.25 €106.48 −24%
Takeda Pharmaceutical Company TAK $18.03 $11.11 −38%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 −52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,899 ₹989.50 −48%
Galderma Group GALD CHF 178.55 CHF 55.07 −69%
Haleon plc HLN $10.11 $7.64 −24%
Teva Pharmaceutical Industries Limited TEVA $36.05 $15.33 −57%
Sandoz Group SDZ CHF 70.66 CHF 39.21 −45%
Zoetis Inc ZTS $77.10 $104.88 +36%
Hansoh Pharmaceutical Group 3692 HK$35.12 HK$16.18 −54%

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Frequently asked questions

Is Alembic Pharmaceuticals Limited (APLLTD) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹525.00 versus a price of ₹807.80, about −35% upside (overvalued).
What is the fair value of APLLTD?
Our model-based fair value for Alembic Pharmaceuticals Limited is ₹525.00 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹807.80.
What is the quality score of APLLTD?
Alembic Pharmaceuticals Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Alembic Pharmaceuticals Limited (APLLTD)?
Our model-based price target is the fair value of ₹525.00 (as of Aug 23, 2026) from 24 valuation models. Cautious scenario ₹289.91, optimistic scenario ₹809.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Alembic Pharmaceuticals Limited stock forecast for 2026?
Our models put fair value at ₹525.00, about −35% upside versus a price of ₹807.80 (overvalued). Cautious scenario ₹289.91, optimistic scenario ₹809.86. The calculation is refreshed regularly with new filings.
What is the revenue of Alembic Pharmaceuticals Limited (APLLTD)?
Alembic Pharmaceuticals Limited reported trailing-twelve-month revenue of about ₹73.4B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of APLLTD?
The net profit margin of Alembic Pharmaceuticals Limited is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
Does Alembic Pharmaceuticals Limited pay a dividend?
Alembic Pharmaceuticals Limited currently shows a dividend yield of about 1.49% relative to its recent price (as of Aug 23, 2026).
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