Alkem Laboratories Ltd Q2FY19
Consolidated Results Q2FY19: (in Rs cr)
|EBITDA Margin (%)||19|||
|Net Profit (adjusted)||254.50||[20.6]|
- Gross margin in Q2FY19 stood at 60.2% vs. 59.9% in Q1FY19 and 61.9% in Q2FY18.
- In Q2FY19, Alkem's India sales declined 6.2% yoy to Rs1,318.4cr vs. Rs1,405.6cr in Q2FY18. The decline is due to the high base created by re-stocking in Q2FY18.
- As per IQVIA MAT September 2018, Alkem's secondary sales in Q2FY19 grew 18.2% yoy, vs. Indian Pharmaceutical Market (IPM) growth of 13.3% yoy.
- Also, Alkem's secondary sales for H1FY19 grew 16.4% yoy, while IPM in the period grew 12.1% yoy.
- US sales for Q2FY19 grew 55.3% yoy to Rs472.5cr. For H1FY19, US sales grew 149.3% yoy to Rs896.2cr.
- Growth in the US business was driven by a combination of new product launches, market share gains in the existing products, and rupee depreciation.
- In Q2FY19, the company filed seven ANDAs with the USFDA and received two approvals (including one tentative approval). Cumulatively, it has filed a total of 118 ANDAs and has 53 approvals.
- Other international markets' sales for the quarter declined 19.3% yoy to Rs108.4cr, while for H1FY19, it declined 4.6% yoy to Rs232.6cr.
- Company's R&D expenses for the quarter was Rs104.9cr, 5.5% of revenue from operations.
- St. Louis (USA) facility has one outstanding observation, while all other facilities have been cleared by the USFDA.
Alkem Laboratories Ltd ended at Rs1,908.90, up 6.7 points, or 0.35%, from its previous close of Rs1,902.20 on the BSE. The scrip opened at Rs1,923 and touched a high and low of Rs1,931.70 and Rs1,863, respectively. A total of 66,174 (NSE+BSE) shares were traded on the counter. The stock traded above its 50-DMA.