Alkem Laboratories Q4FY23 profit tumbled 34 per cent at Rs 70.98 crore from Rs 107.58 crore in the same quarter last year. It posted revenue from operations for the fiscal fourth quarter at Rs 2902.60 crore, up 16.9 per cent from Rs 2483.86 crore in the fourth quarter of FY22. The company’s EBITDA stood at Rs 353.30 crore, resulting in an EBITDA margin of 12.2 per cent. The Board has also recommended a final dividend of Rs 10 per equity share of Rs 2 each for the financial year ended March 2023. The company has fixed 10th August 2023 as the record date for the purpose of payment of final dividend, it said in a regulatory filing. 

Alkem Laboratories segment wise performance

The company’s India sales was reported at Rs 2011.30 crore, up 17.0 per cent on-year. As per secondary sales data by IQVIA, for the quarter ended March 31, 2023, the company grew ahead of Indian Pharmaceutical Market (IPM) with growth of 22.5 per cent YoY compared to IPM growth of 14.9 per cent YoY,” it said in the regulatory filing. Acute therapies like anti-infectives, gastro intestinal, and pain management outperformed the market both in Q4 and FY23 thereby increasing the market share. The company also significantly outperformed the IPM in the chronic therapy areas of neuro / CNS, anti-diabetes and derma. 

Alkem Laboratories’ international sales were recorded at Rs 857 crore with year-on-year growth of 15.6 per cent. While the US sales for the quarter was Rs 591.60 crore, up 9.2 per cent as compared to Rs  541.90 crore in Q4FY22. Other international markets sales for the quarter was Rs 265.40 crore, up 33.3 per cent on-year. 

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“In FY23, India business outperformed the market with exceptional performance surpassing industry benchmarks and achieved good growth on a large base while our US performance was impacted due to significant pricing pressure,” said Sandeep Singh, Managing Director, Alkem. 

R&D expenses by Alkem Laboratories

The company’s R&D expenses for the quarter was at Rs 147.20 crore or 5.1 per cent of the total revenue from operations. During the quarter, it filed 4 abbreviated new drug applications (ANDAs) with the US FDA and received 3 tentative approvals. For FY23, the company filed 12 ANDAs with the US FDA and received 14 approvals (including 7 tentative approvals), Alkem Laboratories said. 

“Our biotech franchise, Enzene raised funds from Eight Roads Ventures and F-Prime Capital during the year. Enzene also received approval for launch of 3 more mAbs in the Indian market and made significant strides in conducting global trials for launch of select biosimilars in regulated markets,” said Sandeep Singh