Key Metrics of Alembic Inc
About Alembic Inc
Company details
- Website
- alembicguitars.com
- Listed
- NSE: ALEMBICLTD · ₹84.69
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 31 Aug 2026 | ICRA | Reaffirmed | AA- | A1+ | Stable | ₹50.5 Cr | View |
Credit strengths (ICRA, Aug 2026)
+ Healthy financial flexibility given the sizeable market value of investments
At present, AL holds a 28.54% stake in APL, the flagship company of the Group, which provides it with healthy financial flexibility.
+ Strong promoter group and management team
The promoters of the company have been in this business for many years and have an established track record in the pharma and real estate sectors .
+ Sizeable land bank supports growth prospects in the real estate business over the medium term
The company has a sizeable land bank, providing adequate visibility for project launches and supporting sustained revenue growth over the medium term.
+ Strong capital structure, driven by minimal debt on the books of the company
The company had been debt free from 2015 to 2023.
Credit challenges
− Limited diversification of investments
Dividend from APL continued to drive the bulk of AL’s revenues (around 21% of the top line) and OPBITDA (41%) in FY2026.
− Small scale of operations and weak profitability profile of the API business
The company is a marginal player in the bulk drugs business, with revenues from the API division amounting to Rs. 47 crore in FY2026, mainly from job-work activities for Group companies as well as other pharmaceutical players.
− Uncertainty attached with contingent liability related to electricity duty issue
On February 14, 2023, AL had intimated the stock exchanges regarding an update on an old litigation it had filed in 2004 against the Collector of Electricity Duty, Chie f www.icra.in Sensitivity Label : Public Page |2 Auditor, Industries Commission and the Government of Gujarat.
Could lead to an upgrade
ICRA could upgrade the long-term rating in case of an improvement in AL’s financial flexibility, aided by a material increase in the underlying value of its investments on a sustained basis, along with the sustenance of a financial policy aimed at keeping financial leverage low. www.icra.in Sensitivity Label : Public Page |3
Could lead to a downgrade
The ratings could be downgraded in case of any substantial deterioration in the company’s
Agency-reported financials (ICRA, 31 Aug 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹281 Cr | ₹295 Cr |
| PAT | ₹142 Cr | ₹125 Cr |
| OPBDIT/OI | 55.5% | 51.2% |
| PAT/OI | 50.6% | 42.2% |
| Total outside liabilities/Tangible net worth (times) | 0.20× | 0.20× |
| Total debt/OPBDIT (times) | 0.10× | 0.10× |
| Interest coverage (times) | 85.10× | 96.30× |
| Revenue growth (YoY) | — | 5.1% |
| EBITDA (margin × income) | ₹156 Cr | ₹151 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹15.57 Cr | ₹15.10 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1.83 Cr | ₹1.57 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long Term Fund Based CC | Working capital & bank lines | ₹20.9 Cr | ₹15.0 Cr | −28.2% | AA- (Stable) | Reaffirmed | ICRA |
| Fund Based | Working capital & bank lines | ₹25.5 Cr | ₹25.5 Cr | 0.0% | AA- (Stable) | Reaffirmed | ICRA |
| Based/Non Fund Based | Non-fund based limits | ₹10.0 Cr | ₹10.0 Cr | 0.0% | — | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Information on file | 56% · missing: Capex / investment plans, Lender details, Auditor details, Recent rating review (last 15 months) |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 82% chance the next rating action is stable or better
- Current rating AA- (investment grade)
- Interest coverage 96.3×
- Working-capital limits 4% utilised on average
Rated limits by facility
Timeline
From the report
Strong capital structure, driven by minimal debt on the books of the company – The company had been debt free from 2015 to 2023.
From the report
Although all its real estate projects are self-funded and the company has stable rental income, it took a term loan of around Rs. 18 crore (against a total sanctioned amount of Rs. 31 crore) in FY2024 in the form of lease rental discounting to fund certain real estate activities.
From the report
Liquidity position: Strong AL’s liquidity is strong, given the sizeable buffer of around Rs. 24 crore in fund-based limits, with average working-capital utilisation being negligible at 4% for the 12-month period ending March 2026.
From the report
It had cash and investments of Rs. 92 crore as of March 2026 and is expected to generate retained cash flows of Rs. 50-60 crore in FY2027.
From the report
Against these sources of funds, it has repayment obligations of Rs. 4.0 crore in FY2027 and is expected to incur capex of Rs. 25-30 crore.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.