Alembic (ALEMBICLTD) had a P/E of 8.1× on 6 Nov 2026, below the industry P/E of 22.1×, and the shares are 14% below their 52-week high. Sales and net profit grew 25% and 19% a year over 3 years, with ROCE of 6.1% and ROE of 13%, though net profit is above operating profit, which points to a one-off gain. It carries very little debt, and its dividend yield is 2.4%. It is a small-cap company with a market cap of ₹2,599 Cr, ranked 28th of 112 Real Estate (Development) companies by market cap; the shares fell 4.4% over the past year.
- ₹96.70
- ₹104.40
- ₹95.10
- ₹97.82
- 20.4 L
Health check
- ReturnsIn line
−4.4% over a year, better than 4 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSteady
Sales +24.8%, profit +18.5% a year over 3 years.
- ProfitabilityWeak
ROCE 6.1% vs peer median 10.4%.
- Balance sheetSolid
Practically debt-free.
- Red flags2 to check
Quarterly sales down 2.0% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,599 Cr
- Small cap
- P/E
- 8.1
- Industry 22.1
- Price to book
- 1.06
- Peers 2.88
- Dividend yield
- 2.37%
- ROE
- 13.3%
- Peers 11.1%
- ROCE
- 6.1%
- Peers 10.4%
- Debt to equity
- 0.00
- Debt ₹11 Cr
- EPS (TTM)
- ₹12.48
- Face value ₹2
- OPM (TTM)
- 36.1%
- Net margin 134.2%
- Sales growth
- −2.0%
- Latest quarter vs a year ago
- Profit growth
- +5.3%
- Latest quarter vs a year ago
- Price to sales
- 10.88
- EV/EBITDA 29.3
Strengths and risks
Strengths
- Practically debt-free.
- Dividend yield of 2.37%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly sales down 2.0% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
About Alembic
Alembic Limited engages in real estate business in India and internationally. It operates through Active Pharmaceutical Ingredient (API) and Real Estate segments. The company constructs residential and commercial real estate projects; provides project management and marketing consultancy services; and leases commercial properties. It also manufactures and markets fermentation and chemistry based active pharmaceutical ingredients; and research and…
- Headquarters
- Vadodara
- Employees
- 261
- Sector
- Real Estate
- ISIN
- INE426A01027
- Website
- alembiclimited.com
Price range
- Avg volume (3M)
- 13.6 L
- 1-year return
- minus 4.4%
- From 52-week high
- minus 14.0%
Peers · Real Estate - Development
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLFDLF | 752.90 | plus 1.03% | 1,86,366 | 40.8 | 127.6 | 6.3% | 15.3% | 0.01 | 11.3% | minus 3.8% |
| LODHALodha Developers | 1,179.00 | plus 0.27% | 1,17,812 | 27.1 | 25.2 | 18.2% | 33.1% | 0.41 | 20.4% | minus 3.9% |
| OBEROIRLTYOberoi Realty | 1,739.00 | minus 0.13% | 63,230 | 24.0 | 18.8 | 16.7% | 57.5% | 0.14 | 12.9% | minus 2.2% |
| GODREJPROPGodrej Properties | 1,809.30 | minus 0.31% | 54,501 | 40.4 | – | 11.1% | −6.5% | 1.02 | 32.4% | minus 20.9% |
| BRIGADEBrigade Enterprises | 558.15 | minus 0.89% | 18,205 | 25.1 | 15.6 | 9.8% | 29.2% | 0.83 | 18.5% | minus 26.2% |
| ANANTRAJAnant Raj | 445.45 | minus 4.41% | 16,031 | 26.5 | 24.1 | 10.4% | 27.8% | 0.13 | 37.9% | minus 27.8% |
| SOBHASobha | 1,275.40 | minus 1.28% | 13,642 | 71.4 | 46.7 | 7.4% | 6.5% | 0.33 | 16.3% | minus 20.2% |
| ALEMBICLTDAlembic | 101.22 | plus 3.48% | 2,599 | 8.1 | – | – | 24.6% | 0.00 | – | minus 4.4% |
| Median of 7 peers | – | −0.31% | 54,501 | 27.1 | 24.7 | 10.4% | 27.8% | 0.33 | 18.5% | −20.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 49.8 | 55.9 | 74.3 | 60 | 48.7 | |
| 30.2 | 32.6 | 46.9 | 39.8 | 33.3 | |
| 19.6 | 23.2 | 27.4 | 20.2 | 15.5 | |
| 39.4% | 41.6% | 36.9% | 33.7% | 31.7% | |
| 3.6 | 64.9 | 2.3 | 2.1 | 6 | |
| 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | |
| 2.8 | 2.8 | 3.4 | 3.3 | 3.5 | |
| 19.8 | 84.8 | 25.8 | 18.4 | 17.3 | |
| 10.1% | 10.3% | 12.8% | 47.9% | 9.5% | |
| 61.6 | 128 | 60.1 | 67.1 | 64.9 | |
| 2.40 | 5.00 | 2.34 | 2.61 | 2.53 |
Profit & loss
- Sales CAGR 3Y
- +24.8%
- Profit CAGR 3Y
- +18.5%
- EPS CAGR 3Y
- +18.5%
- ROE
- 13.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 118 | 147 | 211 | 230 | |
| – | +24.3% | +43.5% | +8.9% | |
| 78 | 90.3 | 117 | 139 | |
| 40.3 | 56.9 | 93.7 | 90.8 | |
| 34.1% | 38.6% | 44.4% | 39.5% | |
| 60.9 | 51 | 68.3 | 68.1 | |
| 0.5 | 1.1 | 2.5 | 2.3 | |
| 6.7 | 7.8 | 10.6 | 12.4 | |
| −7.2 | 3.8 | 6.6 | 4.5 | |
| 86.8 | 103 | 156 | 149 | |
| 7.1% | 9.6% | 7.0% | 15.3% | |
| 191 | 269 | 311 | 317 | |
| – | +40.9% | +15.7% | +2.2% | |
| 7.42 | 10.46 | 12.10 | 12.36 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 51.4 | 51.4 | 51.4 | 51.4 | |
| 2,027 | 2,134 | 2,287 | 2,394 | |
| – | 9.1 | 14.4 | 10.6 | |
| 127 | 134 | 150 | 134 | |
| 2,205 | 2,329 | 2,503 | 2,590 | |
| 132 | 132 | 135 | 171 | |
| 0.1 | 1.1 | – | 1.5 | |
| 374 | 313 | 277 | 173 | |
| 46.4 | 12.9 | 58.3 | 98.4 | |
| 1,652 | 1,870 | 2,032 | 2,145 | |
| 2,205 | 2,329 | 2,503 | 2,590 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 38.9 | 22.7 | 86.4 | 120 | |
| 7.3 | 25.8 | −26.6 | −53.9 | |
| −46.4 | −48.2 | −58.3 | −67.5 | |
| −0.2 | 0.3 | 1.4 | −1.3 | |
| −25.8 | −56.3 | −50.8 | −76.7 | |
| 13 | −33.6 | 35.6 | 43.4 | |
| −45.9 | −56.2 | −61.2 | −61.4 |
Shareholding pattern
- Promoters71.41%
- Public28.59%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 71.41% | 28.59% | plus 0.53 | |
| 30 Jun 2026 | 70.88% | 29.12% | 0.00 | |
| 31 Mar 2026 | 70.88% | 29.12% | 0.00 | |
| 31 Dec 2025 | 70.88% | 29.12% | 0.00 | |
| 30 Sep 2025 | 70.88% | 29.12% | – |
Major shareholders
Filings & events
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