Alkem Laboratories Ltd

Meeting Details

• Date: 07 October 2026.
• Type/Mode: In-person, one-on-one meeting.
• Organizer: HDFC Mutual Fund.
• Purpose: Analyst / institutional investor meeting.
• Location: Mumbai.

Alkem Laboratories Ltd trading window closed from 29 September 2026 until expiry of 48 hours after the date on which the Financial Results for the quarter and half year ended 30 September 2026 are communicated to the Stock Exchanges.

Guarantee details

• Alkem issues corporate guarantee of EUR 54.45 million to HSBC UK Bank plc.
• The guarantee backs a EUR 49.5 million term loan availed by Occlutech Holding AG, Switzerland.
• Occlutech is a step-down subsidiary; this creates a contingent liability for Alkem.
• Promoter group has no interest; arrangement is at arm's length.
• Disclosure under SEBI LODR; Annexure I details to be posted on the company website.

Product launch

• Alkem launches NeuCeno (cenobamate) for partial-onset seizures in adults in India.
• NeuCeno is a once-daily oral therapy available in 12.5–200 mg doses.
• Clinical studies show up to 78% reduction in seizure frequency, with up to 30% achieving seizure freedom.
• NeuCeno expands Alkem's neurology portfolio in India.

Market context

• Epilepsy affects an estimated 9.4 million people in India.
• Cenobamate is being launched for the first time in India.

Management commentary

• Sandeep Singh, MD, emphasizes improving access to advanced epilepsy treatment options.

Appointment of Senior Management

• Dr. Shubhadeep Sinha appointed to a senior management position, effective 15 September 2026.
• Term of appointment: duration of the contract while employed by the company.
• Profile: 25+ years in Clinical Development, Medical Affairs, Pharmacovigilance, Regulatory Affairs.
• Relationships between directors: Not Applicable.

Launch details

• Alkem launches Renocia Exo™, a next-generation hair regeneration therapy.
• Renocia Exo™ uses Ginsenoside phyto-exosomes, biomimetic peptides, copper peptides and stem cell actives.
• Product is alcohol-, sulfate-, silicone-, parabens-, mineral oil-free for dermatologist-guided use.
• Management emphasizes evolving science of hair restoration and multi-pathway approach.
• Mumbai, 8 September 2026: Renocia Exo™ launched.

AGM Details

• AGM held on 27 August 2026 at 11:06 a.m. via VC/OAVM.
• Meeting concluded at 12:56 p.m.
• Total shareholders on record date: 64,372; attendees: 77.

Key Resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements approved; ordinary.
• Resolution 2: Interim dividend confirmed and final dividend declared; ordinary.
• Resolution 3: Re-appointment of Sandeep Singh approved; ordinary.
• Resolution 4: Re-appointment of Sarvesh Singh approved; ordinary.
• Resolution 5: Madhurima Singh re-appointed as Executive Director for 5 years; remuneration as per notice approved.
• Resolution 6: Cost Auditor remuneration ratified for FY ended 31 March 2026.

Voting Results

• Resolution 1 passed with 99.97% in favour.
• Resolution 2 passed with 100% in favour.
• Resolution 3 passed with 93.94% in favour.
• Resolution 4 passed with 99.93% in favour.
• Resolution 5 passed with 98.12% in favour.
• Resolution 6 passed with 99.93% in favour.

Director Changes

• Sandeep Singh re-appointed as Director (retiring by rotation).
• Sarvesh Singh re-appointed as Director (retiring by rotation).
• Madhurima Singh re-appointed as Executive Director for 5-year term.

Auditors

• Cost Auditor remuneration ratified for FY ended 31 March 2026.

Financial Performance

• International sales: INR 1,222 crore; YoY +16%; EBITDA margin 20.5%; growth +3.7%.
• R&D expense: 4% of total revenue.
• Profit before tax: roughly flat; PBT growth ~1.8%.
• Net profit degrew 21.7% YoY due to taxation.

Operating Update

• IQVIA: India growth 13.2% YoY; market 12.2%; 100 bps outperformance.
• Acute growth 12.3% vs IPM 10.1%; Chronic 17.9% vs 15.4%.
• 7 key therapies outperformed IPM.
• US: 5 ANDA approvals; 1 tentative approval.
• Daman facility received OAI status; approved product supplies continue to US.
• Occlutech acquisition closed mid-July; Q1 not materially impacted.
• U.S. CDMO opex ~INR60 crore per quarter; breakeven in next 4–5 quarters.
• EU: Denosumab biosimilar plan via Theramex; not a rapid ramp.
• Xgeva biosimilar: could be launch around 3 months away.
• India biosimilars: 7 products launched; ~INR150 crore annual sales; margins improved via backward integration.
• Daman accounts for ~45% of U.S. revenue.

Projects and Capex

• Occlutech target: INR400 crore sales with breakeven EBITDA; integration delays.
• Integration with India ops starts next quarter; margins to improve over 3–4 years.

Guidance and Outlook

• Consolidated tax rate guidance: 30%–32% due to losses at Enzene/U.S. entities.
• US CDMO breakeven run-rate: USD 25–30 million annual revenue.
• Occlutech: target INR400 crore sales with breakeven EBITDA; progress to meet 3–4 year plan.
• India growth for the year: around 12%; potential 100 bps uplift possible.
• India mix: price growth ~6%; new launches ~3%; volume ~2% for the quarter.
• US growth outlook: high single-digit to mid single-digit; currency benefits expected.

Q&A Highlights

• Denosumab EU biosimilar: plan ~3 months away; Theramex partnership; not direct.
• Xgeva EU biosimilar: launch ~3 months away.
• India biosimilars: 7 products launched; INR150 crore annual sales; margins improved.
• Occlutech: 8.5 months since closing; INR400 crore sales goal; breakeven EBITDA; integration starts next quarter.
• US CDMO: quarterly opex ~INR60 crore; breakeven in 4–5 quarters; revenue run-rate target USD25–30 million.
• Daman contributes ~45% of US revenue; Daman OAI not expected to impact this year.

Risks and Watchpoints

• CDMO timing is lumpy; breakeven not expected within next 12 months.
• Daman OAI status may affect pace of US/CDMO ramp; short-term resilience seen.
• Trade Generics competition remains intense; late single-digit India growth possible.

Purpose

• Amalgamation scheme between Adroit Biomed and Alkem Laboratories under Companies Act

Key Resolutions

• Approval of the Scheme of amalgamation between Adroit Biomed and Alkem Laboratories

Voting Outcome

• Promoter group: 100% in favour of the scheme
• Public: 99.9987% in favour, 0.0013% against
• Overall: 83.62% of shares polled; 99.9999% in favour

Shareholder/Creditor Impact

• No exchange ratio or capital-structure details disclosed in this filing

Next Steps

• Results to be disseminated to stock exchanges and uploaded on the company's and CDS websites