Alembic Pharmaceuticals Limited provides an investor presentation covering their business operations and growth strategy. Some key points: - Formulations account for approximately 80% of revenues, with the branded domestic business and international generics being the major growth drivers. - R&D spending will continue to rise as they focus on complex generics opportunities and new drug delivery systems. They have filed 68 ANDAs with the USFDA. - Manufacturing facilities in India are approved by various regulatory agencies like USFDA, EDQM, and WHO. - Going forward, the strategy is to continue focusing on complex products, launch 7-9 new products annually in the US, create a front-end marketing presence in the

1. Alembic Pharmaceuticals Limited
Investor Presentation
April 2015
www.alembic-india.com
BSE Code: 533573
Bloomberg Code: ALPM:IN
NSE Code: APLLTD
Reuters Code: ALEM.NS

2. Safe Harbor Statement
Materials and information provided during this presentation may contain ‘forward-looking statements’. These
statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties
which could cause actual outcomes and results to differ materially from these statements.
Risks and uncertainties include general industry and market conditions and general domestic and international
economic conditions such as interest rate and currency exchange fluctuations. Risks and uncertainties particularly
apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are
not limited, to technological advances and patents attained by competitors, challenges inherent in new product
development including completion of clinical trials; claims and concerns about product safety and efficacy;
obtaining regulatory approvals; domestic and foreign healthcare reforms; trend towards managed care and
healthcare cost containment and governmental laws and regulations affecting domestic and foreign operations.
Also, for products that are approved, there are manufacturing and marketing risks and uncertainties, which include,
but are not limited, to inability to build production capacity to meet demand, unavailability of raw materials and
failure to gain market acceptance.

3. The Journey so far
1907
Alembic Ltd. starts manufacturing
tinctures and alcohol at Vadodara
1940
Starts manufacturing cough syrup,
vitamins, tonics and sculpture drugs
1961
Penicillin plant inaugurated
1971
Becomes 1st Indian company to
manufacture Erythromycin
1972
Launched it under brand
‘ALTHROCIN’
2001
Starts manufacturing of
Cephalosporin C
2003
Formulation facility set up for
Regulated markets
2004
R&D facility set up at Vadodara
2006
Receives USFDA approval for API
and Formulation facilities
2007
Acquires Non-Oncology Division
of Dabur Pharma - enters high
margin segments such as
Cardiology, Diabetes, Gastro and
Gynaecology
2010
“Azithral” sales crosses INR 1bn
Demerger of pharma business from
Alembic Ltd. – Alembic
Pharmaceuticals Ltd. Formed
2011
Receives ANVISA approval
Aggressive ANDA & DMF filings
2014
Cumulatively filings made for 68
ANDAs/NDAs and 72 DMFs
18 Marketing divisions in operation
for India business

4. Revenue Overview Q4FY15
46
29
15
6
2 2
% of the total sales
India Branded Formulations
International Generics
API Export
India Generics
International Branded Formulations
API Domestic

5. Revenue Overview FY 14-15
47
26
15
6
3 3
% of the total sales
India Branded Formulations
International Generics
API Export
India Generics
International Branded Formulations
API Domestic

6. R&D Infrastructure
R&D facility
R&D centre has been
recognized by DSIR,
Govt. of India
High-end R&D
equipment- NMR XRD,
TGA, DSC, LCMS
World-class
infrastructure
F&D Capabilities
Expertise in Drug
Deliveries and Niche
formulations
Well-defined Processes
and Quality Systems
Capabilities in Solid Oral
and Liquid Oral Products
Bio Equivalence Centre
State-of-the art 90-
bedded Bio Centre
100 Pilot studies
50 Pivotal Studies
State-of-the-art Analytical & IPR infrastructure

7. R&D spends to continue rising
• Highly talented pool of 420 research scientists working to address complex genericisation
opportunities, novel drug delivery systems and new technology platforms
• The Company has filed cumulatively 68 ANDAs/NDA and 72 DMFs with USFDA upto year ended
31st March 2015
0
1
2
3
4
5
6
7
FY11
FY12
FY13
FY14
FY15
4.06
4.78 5.06
7.00
6.74
%ofsales
R&D spend as a % to sales
-
20
40
60
80
100
120
140
FY11
FY12
FY13
FY14
FY15
49
70
77
131
139
Rs.inCrores
Total R&D spend

8. State of the Art Manufacturing Facilities
Formulations
APIs
Located at Panelav, Gujarat
USFDA, MCC, MHRA, ANVISA & TPD
approved – for Generic exports
Capacity - 7 bn tablets / capsules p.a.
Located at Baddi, Himachal Pradesh
WHO GMP approved
Manufactures branded formulations and caters
to domestic market
Capacity 2 bn tablets / capsules p.a, 0.15 bn
bottles p.a.
Located at Panelav and Karkhadi, Gujarat
USFDA, EDQM, TGA, WHO approved

9. Formulations business
accounts for ~80% of revenues

10. Branded business continues to grow

11. Strong domestic market presence
Key Highlights
1.77% market share
(Ranked 19th) in Indian
formulations market as
per IMS MAT data
Sustained dominance in
anti-infective, analgesics,
cough and cold segments
Robust growth in
Cardiology, Diabetes,
GI, Gynaecology,
Dermatology, Orthopedic
and Respiratory
Ranked 17th in doctors’
prescription universe
Diversified basket of 170
brands
2 brands featured among
top 100 and 5 among top
300 brands in India as
per IMS MAT data

12. Continued shift towards Specialty therapies
42 46 49 54 56
58 54 51 46 44
0
10
20
30
40
50
60
70
80
90
100
FY11 FY12 FY13 FY14 FY15
%ofDomesticFormulations
Therapy Dominance
Specialty Acute

13. Therapy-wise Performance Q4
MAR QTR 2015 MAR QTR 2014
Therapy
Therapy
Growth
(ORG)
Market
Share
(ORG)
Alembic
Growth
(ORG)
Alembic
Growth
(PRIM)
Therapy
Growth
(ORG)
Market
Share
(ORG)
Alembic
Growth
(ORG)
Alembic
Growth
(PRIM)
Cardiology 14 1.92 37 29 9 1.60 21 37
Anti Diabetic 18 1.55 36 31 20 1.34 22 27
Gynaecology 12 2.59 35 23 10 2.15 14 33
Gastrology 16 2.43 15 18 12 2.45 6 15
Dermatological 18 0.52 52 51 20 0.40 71 56
Orthopaedic 15 1.00 3 15 11 1.11 8 27
Ophthalmology 18 1.33 -10 -18 13 1.74 27 23
Anti Infective 17 3.65 10 1 3 3.90 -7 1
Cold & Cough 18 5.30 33 38 10 4.72 3 8
OVERALL 16 1.83 22 17 11 1.74 6 13
(Source : ORG March 2015)

14. Therapy-wise Performance FY 14-15
MAR MAT 2015 MAR MAT 2014
Therapy
Therapy
Growth
(ORG)
Market
Share
(ORG)
Alembic
Growth
(ORG)
Alembic
Growth
(PRIM)
Therapy
Growth
(ORG)
Market
Share
(ORG)
Alembic
Growth
(ORG)
Alembic
Growth
(PRIM)
Cardiology 11 1.77 29 31 12 1.51 27 37
Anti Diabetic 18 1.46 29 27 23 1.33 24 30
Gynaecology 12 2.33 27 28 9 2.05 23 33
Gastrology 14 2.45 11 17 10 2.50 10 15
Dermatological 19 0.44 42 52 20 0.37 200 190
Orthopaedic 12 1.05 4 13 9 1.12 9 20
Ophthalmology 20 1.45 0 -12 11 1.75 41 34
Anti Infective 10 3.61 4 4 1 3.84 -6 -3
Cold & Cough 11 5.38 22 20 13 4.90 9 15
OVERALL 13 1.77 15 15 10 1.74 8 13
(Source : ORG March 2015)

15. Marketing Divisions - Specialty
Specialty
Cardio-Diabetes
Corazon
Summit
Specia
Urology
Gynecology
Alcare
Zenovi
Elena
Gastroenterology
Enteron
Gastron
Dermatology Corium
Orthopedics Osteofit
Ophthalmology Eyecare
High end
Respiratory
Respiratory
Ouron

16. Marketing Divisions
Acute
Anti-infective
and Cold &
Cough
Megacare
Pharma
Maxis
Animal Healthcare
Veterinary
Poultry

17. Key Therapies & Brands
Therapeutic Segment-wise Break-up (Q4FY15) • Launched 1 product SKU in the domestic market in
Q4FY15, 29 product SKUs in FY 2014-15.
• 5% market share in the cough and cold segment
• 5000+ marketing team
Brand Name Therapeutic Area Ranking
Azithral Anti-infective 33
Althrocin Anti-infective 67
Wikoryl Respiratory 157
Roxid Anti-infective 166
Gestofit Gynecology 269
(Source : ORG March 2015)
29
17
14
14
11
6
4 2 2 1
% of total domestic formulation revenue
Anti Infectives
Gastrology
Cough & Cold
Cardiology
Gynecology
Anti Diabetic
Orthopedics
Nephrology/Urology
Dermatology
Ophthalmology

18. Branded Export business in investment phase
Key Highlights
Focus on Rest of the
World markets
Products filed in key
markets (South East Asia,
CIS and East Africa)
Expected to be of critical
mass in 3 years

19. International Generics will be the
growth driver

20. Fast emerging player in international generics
Key Highlights
All Facilities approved
for supply to regulated
markets such as the US,
Europe, Australia and
Brazil
Partnership with leading
generic players in the
US, Europe, Canada,
Australia
ANDAs vertically
integrated to DMFs
Exit from low margin
products and contract
manufacturing,
reallocating liberated
capacity addressing
regulated markets
37 ANDAs/NDAs
approved (4 tentative)
31 ANDAs pending
approval
Launching its own front-
end marketing in the US

21. API business accounts for ~20% of
revenues

22. Focus on Regulated Markets
Key
Highlights
30% of capacity
being used for
captive
consumption
More than 85%
of sales are to
regulated
markets /
customers
72 DMFs filed
Capacity
expansion is in
progress

23. Financial Snapshot

24. Focus on shareholder value creation
CAGR
Revenue 16%
EBITDA 27%
PAT 31%
Market Capitalization 108%
-
5,000
10,000
15,000
20,000
Revenue EBITDA PAT
15,260
2,520
1,652
18,684
3,577
2,355
20,677
4,061
2,829
InINRmn
FY13 FY14 FY15
-
20,000
40,000
60,000
80,000
100,000
Market Capitalization
19,793
53,738
85,699
InINRmn
FY13 FY14 FY15

25. Financial Highlights
Particulars (INR mn) Q4FY15 Q4FY14 %Growth FY 14-15 FY 13-14 %Growth
Formulations Revenue
India
Branded 2321 1994 16% 9808 8506 15%
Generics 321 287 12% 1227 1207 2%
International
Branded 90 176 -49% 635 736 -14%
Generics 1479 1366 8% 5185 4684 11%
API Revenue 853 810 5% 3665 3389 8%
Exports Incentives 16 19 157 162
Total Revenue 5080 4652 9% 20677 18684 11%
EBITDA 987 913 8% 4061 3577 14%
EBITDA % 19.4% 19.6% 19.6% 19.1%
PAT 703 613 15% 2829 2355 20%
PAT % 13.8% 13.2% 13.7% 12.6%
EPS 3.73 3.25 15.01 12.49
Book Value/share 51.14 35.84 43%
Debt 2635 1094 141%
ROCE % 28.7% 39.7%

26. 74
11
15
% of Total Shareholding
Promoter & Promoter group
FI/FII/MF
Public
Latest Shareholding Pattern
Market capitalization INR 85 bn
Total paid-up share capital 377.03mn
Total number of shares O/S 188.52mn
No. of shareholders 50 K
Free float market capitalization INR 22 bn

27. Way forward

28. Strategy going forward
• Continue to focus on complex products. Expect to launch 7-9 products every year for the next
three years in the US markets
• Create a front-end marketing presence in USA in addition to its existing marketing alliances
• Filing ANDAs/MAs in other international markets such as Europe, Australia, Canada, Brazil
and South Africa
• Sustained focus on R&D and F&D activities to build robust pipeline of products for regulated
markets
• Continued focus on progressive therapies for sustainable growth and increased market share for
India Branded business
• Building pipeline for ROW markets.

29. Conference call details
Date : Monday, April 27, 2015
Time : 03.30 pm IST
India - Primary Number +91 22 39381028
India - Secondary Number +91 22 67468328
USA 1 866 746 2133
UK 0 808 101 1573
Singapore Toll Free No. 800 101 2045
Hong Kong Toll Free No. 800 964 448

30. Mitanshu Shah
Tel.: 0265 - 300 7630 • Fax: 0265 - 228 2506
mitanshu.shah@alembic.co.in
For updates and specific queries please feel free to contact
About Alembic Pharmaceuticals Limited
Alembic Pharmaceuticals Limited, a vertically integrated research and development pharmaceutical
company, has been at the forefront of healthcare since 1907. Headquartered in India, Alembic is a publicly
listed company that manufactures and markets generic pharmaceutical products all over the world.
Alembic's state of the art research and manufacturing facilities are approved by regulatory authorities all
over the world including the US FDA. Alembic is one of the leaders in branded generics in India. Alembic's
brands, marketed through a marketing team of over 5000 are well recognized by doctors and patients.
Information about the company can be found at:
www.alembic-india.com;(Reuters:ALEM.NS) (Bloomberg:ALPM:IN) (NSE:APLLTD) (BSE:533573)
Ajay Kumar Desai
Tel.: 022- 306 11681 • Fax: 022 – 306 11682
ajay.desai@alembic.co.in