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ALKEM - Fundamental Analysis: Financial Health & Valuation

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Rating: 4

Last Updated Time : 19 Mar 26, 07:09 pm

Fundamental Rating: 4.0

Stock Code ALKEM Market Cap 63,740 Cr. Current Price 5,332 ₹ High / Low 5,934 ₹
Stock P/E 28.8 Book Value 1,143 ₹ Dividend Yield 0.84 % ROCE 19.5 %
ROE 19.9 % Face Value 2.00 ₹ DMA 50 5,558 ₹ DMA 200 5,462 ₹
Chg in FII Hold 0.50 % Chg in DII Hold -0.39 % PAT Qtr 654 Cr. PAT Prev Qtr 724 Cr.
RSI 41.1 MACD -67.8 Volume 65,922 Avg Vol 1Wk 1,32,277
Low price 4,612 ₹ High price 5,934 ₹ PEG Ratio 2.07 Debt to equity 0.06
52w Index 54.5 % Qtr Profit Var -3.35 % EPS 196 ₹ Industry PE 27.6

📊 Financials

  • Revenue & Profitability: PAT declined from ₹724 Cr. to ₹654 Cr., showing a -3.35% quarterly variation. EPS at ₹196 remains strong, reflecting solid earnings capacity.
  • Margins & Returns: ROCE at 19.5% and ROE at 19.9% are healthy, indicating efficient capital utilization and profitability.
  • Debt & Liquidity: Debt-to-equity ratio of 0.06 indicates a nearly debt-free balance sheet, ensuring financial resilience.
  • Cash Flow: Dividend yield of 0.84% provides modest shareholder returns.

💹 Valuation

  • P/E Ratio: 28.8 vs Industry PE of 27.6 — trading at a slight premium.
  • P/B Ratio: Current price ₹5,332 vs Book Value ₹1,143 — ~4.7x book value, moderately expensive.
  • PEG Ratio: 2.07 — suggests stretched valuation relative to growth.
  • Intrinsic Value: Current price is slightly above fair value, offering limited margin of safety.

🏢 Business Model & Competitive Advantage

  • Strong presence in pharmaceuticals with diversified product portfolio.
  • High ROCE and ROE reflect operational efficiency and competitive strength.
  • Low debt enhances resilience and flexibility in expansion.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between ₹4,800 – ₹5,100, closer to its 52-week low.
  • Long-Term Holding: Strong fundamentals and industry tailwinds make it a good candidate for long-term holding. Accumulate on dips for sustained growth.

✅ Positive

  • Healthy ROCE (19.5%) and ROE (19.9%) highlight efficiency.
  • Debt-to-equity ratio of 0.06 ensures financial stability.
  • Dividend yield of 0.84% provides shareholder returns.
  • FII holdings increased by 0.50%, showing foreign investor confidence.

⚠️ Limitation

  • Valuation multiples (P/E, P/B, PEG) suggest overvaluation.
  • Quarterly PAT declined (-3.35%), showing short-term weakness.
  • Premium valuation compared to industry average PE.

📉 Company Negative News

  • DII holdings declined by 0.39%, showing reduced domestic institutional confidence.
  • MACD at -67.8 indicates bearish technical signals.

📈 Company Positive News

  • Strong EPS of ₹196 reflects robust earnings capacity.
  • FII holdings increased, showing foreign investor confidence.
  • Stock trading near DMA 200 indicates technical support.

🏭 Industry

  • Pharmaceutical sector benefits from global demand and healthcare expansion.
  • Industry PE at 27.6 is slightly lower than company’s valuation, highlighting premium pricing for ALKEM.

🔎 Conclusion

ALKEM demonstrates strong fundamentals with healthy efficiency, low debt, and consistent earnings power. However, valuations are stretched and short-term profit decline raises caution. Best strategy: accumulate near ₹4,800–₹5,100 and hold for long-term gains, leveraging industry growth and the company’s competitive strength.

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