Alembic Pharmaceuticals Ltd (APLLTD) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Alembic Pharmaceuticals Ltd Q2 Results Date and Time

A board meeting is scheduled on 4 Nov 2026 to approve the Q2/H1 FY27 unaudited financial results. The trading window, closed since 1 Oct 2026, reopens 48 hours after the result declaration.

The post-results conference call is scheduled for 4 Nov 2026 at 5:00 PM IST, rescheduled from an earlier 4:00 PM IST slot. An audio recording of the previous results call has been hosted on the company website.

What to expect from Alembic Pharmaceuticals Ltd's Q2 FY27 results

The Q2 FY27 print is the first full quarter of Bosutinib benefit, with the 180-day exclusivity on the 100mg and 500mg strengths running until November, and management has already revised the FY27 US growth guidance upward from the initial 10-15% in INR terms.

The rupee held in the mid-95s against the dollar through the quarter (FBIL reference Rs. 95.37/$ on 29 Oct 2026, vs 87.91 on the RBI series in a 2025 fortnight), a continued YoY depreciation tailwind for INR-reported US revenue, which grew 49% YoY in Q1 with constant-currency growth of approximately 37-38%.

On margins, the Pivya/US branded dilution of approximately 150 basis points for the full year is guided to narrow quarter-on-quarter toward breakeven by end FY27, against a Q1 base where Alembic Therapeutics posted a Rs. 25.93 Cr net loss and pre-R&D EBITDA margin stood at ~24%. Two management-specific promises remain unproven: India's convergence with market growth (guided at potentially high single-digit; Q1 grew 7%) and the guided Q2/Q3 unwind of the ~Rs. 1,600 Cr gross debt that built up on higher receivables.

The upcoming call is also likely to cover Venetoclax launch timing, after the first-filer Paragraph IV approval with 180-day exclusivity in a US$1,584 Mn US market on 30 Oct 2026.

Key Things To Watch

FY27 guidance scorecard: Status of the guidance stack from the Q1 FY27 call (4 Aug 2026):

• Consolidated top-line — low double-digit growth for FY27 — Q1 ran +26%; check whether H1 momentum prompts a formal upgrade beyond the 'directional' revision
• US growth — above the initial 10-15% INR terms for FY27 — Q1 +49% reported / ~37-38% CC; watch Q2 US growth and the post-November Bosutinib exclusivity path
• EBITDA margin — high teens with ~150 bps full-year US-branded dilution for FY27; 18-19% 'next year, next-to-next year' and 20% 'in the next couple of years'
• Debt — unwind in Q2 and Q3 FY27 toward March levels, potentially close to 1x EBITDA; check Q2 gross debt vs ~Rs. 1,600 Cr

US growth and Bosutinib path

• Q2 is the first full quarter of Bosutinib benefit; exclusivity on two strengths runs until November, with competition uncertainty beyond
• Venetoclax launch execution — first-filer Paragraph IV with 180-day exclusivity in a US$1,584 Mn market (approved 30 Oct 2026); any launch-timing commentary would be new information
• US launches — ~15 more products in the next 9 months (from Aug 2026) and a similar number next year; track launch count updates

Margin bridge and balance sheet

• Pivya drag narrowing QoQ — breakeven by end FY27 and EBITDA-positive from FY28; Q1's Rs. 25.93 Cr subsidiary loss is the base to measure against
• Gross margin trajectory vs the 70-75% guided range, given solvent prices and the Ophthaline shutdown under-absorption flagged in Q1
• Whether the Q4 FY26 R&D outlier (11% of revenue) normalises toward the ~9% FY27 guidance (Rs. 750-800 crores)

India, API and Ex-US trajectory

• India — high single-digit / market-growth alignment for FY27; Q1 grew +7%, ask for evidence of convergence
• API — ~10% FY27 guidance vs Q1 +33% on a strong order book; probe sustainability
• Ex-US — ~15% FY27 guidance vs Q1 +17%; B2B supply-timing variance, plus the role of the two new UAE subsidiaries in the international strategy