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ICICI Securities Report
Alkem Laboratories Ltd. has seen strong growth recovery in its acute portfolio during Q1 FY22 as per All Indian Origin Chemists and Distributors (secondary sales) data and its better than industry growth.
The anti-infectives and gastro-intestinal, the two largest therapeutic segments for Alkem Laboratories, have witnessed healthy ramp-up.
Additionally, we believe the growth in FY22E may show positive surprise considering the low base of FY21 and if the momentum of this sharp recovery in acute segments continues.
We remain positive on the long-term outlook based on sustainable growth in the domestic market and gradual scale-up in U.S. generic business coupled with an improving margin profile.
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