Alembic Ltd — Interim / Quarterly Report 2026

May 19, 2026

Alembic Touching Lives over 100

Date: 19th May, 2026

To,

The Manager,

Department of Corporate Services,

BSE Limited

1st Floor, Phiroze Jeejeebhoy Towers,

Dalal Street, Fort,

Mumbai - 400 001

Scrip Code: 506235

To,

The Manager,

Listing Department,

National Stock Exchange of India Limited

“Exchange Plaza”

Bandra Kurla Complex, Bandra (E),

Mumbai – 400 051

NSE Symbol: ALEMBICLTD

Dear Sir,

Sub: Outcome of Board Meeting

With reference to the captioned subject, the exchanges are hereby informed that the Board of Directors of Alembic Limited at its meeting held today has inter alia:

1. Approved the Audited Financial Results of the Company for the quarter and financial year ended 31st March, 2026.

In this regard, we enclose the following:

a) Consolidated Audited Financial Results for the quarter and financial year ended 31st March, 2026 along with Auditors Report.

b) Standalone Audited Financial Results for the quarter and financial year ended 31st March, 2026 along with Auditors Report.

We hereby confirm and declare that the Statutory Auditors of the Company M/s. CNK & Associates LLP (FRN:101961W/W-100036), have issued an Audit Report on the Consolidated and Standalone Audited Financial Results of the Company for the year ended 31st March, 2026, with unmodified opinion. This declaration is given in compliance Regulations 33(3)(d) of the SEBI Listing Obligations and Disclosure Requirement) Regulations, 2015.

1. Recommended Dividend of Rs. 2.40 (120%) per Equity Share having face value of Rs. 2/- each for the year ended 31st March, 2026, subject to approval of Shareholders at the ensuing Annual General Meeting.

ALEMBIC LIMITED

REGD. OFFICE: ALEMBIC ROAD, VADODARA - 390 003. • TEL: (0265) 6637000

website: www.alembiclimited.com • E-mail: alembic.investors@alembic.co.in • CIN: L26100GJ1907PLC000033

---

Alembic Touching Lives over 100

The time of commencement of the Board Meeting was 4:30 p.m. and the time of conclusion was 5:45 p.m.

We request you to kindly take the same on record.

Thanking you,

Yours faithfully,

For Alembic Limited

Encl.: A/a

ALEMBIC LIMITED

REGD. OFFICE: ALEMBIC ROAD, VADODARA - 390 003. • TEL: (0265) 6637000

website: www.alembiclimited.com • E-mail: alembic.investors@alembic.co.in • CIN: L26100GJ1907PLC000033

---

Alembic

ALEMBIC LIMITED
C/N:L26100GJ1907PLC000033
Regd. Office: Alembic Road, Vadodara 390 003
Ph:0265 6637000
www.alembiclimited.com Email:alembic.investors@alembic.co.in

Statement of Consolidated Audited Financial Results for the Quarter and Year ended 31st March, 2026
Rs. in Lakhs

Sr. No	Particulars	Quarter Ended			Year Ended
		31.3.2026 (Audited)	31.12.2025 (Unaudited)	31.3.2025 (Audited)	31.3.2026 (Audited)	31.03.2025 (Audited)
1	Revenue from Operations	6,004	7,434	6,027	23,999	22,189
2	Other Income	214	231	296	7,297	7,489
3	Total Income	6,218	7,665	6,323	31,296	29,678
4	Expenses
	Cost of Materials Consumed	404	385	192	1,388	800
	Cost of Construction	1,463	2,238	1,549	6,002	6,005
	Changes in Inventories of Finished Goods and WIP	(65)	105	(3)	255	111
	Employee Benefit Expenses	1,174	1,032	650	3,744	2,731
	Finance Costs	57	55	62	228	247
	Depreciation and amortisation expense	334	344	275	1,239	1,063
	Other Expenses	1,006	930	906	3,564	3,170
	Total Expenses	4,374	5,089	3,632	16,420	14,128
5	Profit Before Tax (3-4)	1,844	2,576	2,692	14,876	15,550
6	Tax Expenses
	Current Tax	566	390	345	2,263	1,763
	Deferred Tax	287	(61)	128	(10)	(514)
	Short / (Excess) Provision of earlier years	30	-	(156)	30	(156)
7	Net Profit after tax for the Period	961	2,247	2,375	12,593	14,457
8	Share of Associate's Profit/(Loss)	5,752	3,766	4,470	19,145	16,610
9	Net Profit/(Loss) after tax and Share of Associate's Profit/(Loss)	6,713	6,013	6,845	31,738	31,068
10	Other Comprehensive Income
	A (i) Items that will not be reclassified to Profit or (Loss)	(11,724)	(13,653)	(2,626)	(10,562)	(3,511)
	(ii) Income tax relating to items that will not be reclassified to Profit or (Loss)	1,241	1,792	388	925	(108)
	B (i) Items that will be reclassified to Profit or (Loss)	384	164	106	882	188
11	Total Comprehensive Income/(Loss) for the Period	(3,387)	(5,684)	4,713	22,983	27,636
12	Paid up Equity Share Capital (Face Value of Rs 2/- per share)	5,135.64	5,135.64	5,135.64	5,135.64	5,135.64
13	Other Equity (excluding Revaluation Reserve)				2,24,927	2,04,790
14	Earnings per equity share (FV Rs. 2/- per share)	2.61	2.34	2.67	12.36	12.10
	Basic & Diluted (In Rs.)

ALEMBIC LIMITED
ALEMBIC GUIDE
VADODARA

---

Alembic Limited

Segment wise Consolidated Revenue and Results

Rs. In Lakhs

r.No	Particulars	Quarter Ended			Year Ended
		31.3.2026 (Audited)	31.12.2025 (Unaudited)	31.3.2025 (Audited)	31.3.2026 (Audited)	31.03.2025 (Audited)
1	Segment Revenue
	Revenue from Operations
	a. Active Pharmaceutical Ingredients Business	983	1,350	778	4,659	3,221
	b. Real Estate Business	5,021	4,556	5,248	19,340	18,967
	Total Income from Operations (Net)	6,004	7,434	6,027	23,999	22,189
2	Segment Results (Profit (+)/ Loss (-) before Taxes and interest from each segment)
	a. Active Pharmaceutical Ingredients Business	(117)	214	188	565	473
	b. Real Estate Business	2,097	2,385	2,563	8,117	8,806
	Total	1,980	2,599	2,751	8,682	9,278
	Unallocable Income and Expenditure
	(i) Interest Expense	(57)	(55)	(62)	(228)	(247)
	(ii) Dividend Income and Gain/(Loss) on Fair Value Change of Financial Asset	(121)	18	(12)	6,167	6,471
	(iii) Other Income / (Expense)	42	14	15	255	47
	Total Profit Before Tax	1,844	2,576	2,692	14,876	15,550
3	Segment Assets
	a. Active Pharmaceutical Ingredients Business	18,081	18,400	18,722	18,081	18,722
	b. Real Estate Business	51,578	48,918	44,313	51,578	44,313
	c. Unallocated	1,89,291	1,95,743	1,87,265	1,89,291	1,87,265
	Total	2,58,951	2,63,061	2,50,300	2,58,951	2,50,300
4	Segment Liabilities
	a. Active Pharmaceutical Ingredients Business	3,480	3,350	3,128	3,480	3,128
	b. Real Estate Business	8,148	8,060	9,947	8,148	9,947
	c. Unallocated	2,814	3,754	3,367	2,814	3,367
	Total	14,442	15,165	16,441	14,442	16,441

Notes:

1 The above results have been audited by Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors of the Company.
2 The Board has recommended Dividend on equity shares at Rs 2.40 per share (face value Rs. 2/- each) i.e 120% for the year ended on 31st March, 2026 (Previous year Rs. 2.40 per share i.e 120%).
3 The previous quarter's / year's figures have been regrouped / rearranged wherever necessary to make it comparable with the current quarter / year.
4 The figures for the quarter ended 31st March, 2026 and corresponding quarter ended 31st March, 2025 are the balancing figures between the audited figures in respect of full financial year and year to date figures upto third quarter of the respective financial years which were subject to limited review.
5 The Government of India has notified the implementation of four new Labour Codes effective 21st November, 2025, by consolidating and rationalizing 29 existing labour laws. The Company has provisionally estimated the financial implications thereof and has made additional provision under 'Employee Benefit Expense' for Rs. 143.72 lakh in the financial results for the quarter ended on 31st December, 2025. This will be reviewed and revised, if required once all applicable Rules are notified by the Government on all aspects of the Codes.

Place : Vadodara

Date : 19th May, 2026

---

R5. in Lakhs

Alembic Limited

Statement of Consolidated Assets and Liabilities

Particulars	As at 31st March, 2026 (Audited)	As at 31st March, 2025 (Audited)
ASSETS
Non-Current Assets
(a) Property, Plant and Equipments	16,995	13,533
(b) Capital Work-in-Progress	150	-
(c) Investment Property	30,171	27,357
(d) Goodwill	5	5
(e) Financial Assets
(i) Investments	17,310	27,736
(ii) Investments accounted using Equity Method	1,70,443	1,56,759
(iii) Others	652	923
(f) Other Non-Current Assets	3,500	3,500
	2,39,227	2,29,814
Current Assets
(a) Inventories	5,224	9,939
(b) Financial Assets
(i) Investments	9,662	5,510
(ii) Trade Receivables	3,190	2,997
(iii) Cash and Cash Equivalents	141	271
(iv) Bank Balances other than Cash and Cash Equivalents	187	166
(v) Others	353	319
(c) Other Current Assets	966	1,286
	19,724	20,487
TOTAL - ASSETS	2,58,951	2,50,300
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital	5,136	5,136
(b) Other Equity	2,39,373	2,28,723
	2,44,509	2,33,859
Liabilities
Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings	661	1,067
(ii) Other Financial Liabilities	1,350	1,247
(b) Provisions	372	244
(c) Deferred Tax Liability (Net)	1,929	2,837
	4,312	5,394
Current Liabilities
(a) Financial Liabilities
(i) Borrowings	403	378
(ii) Trade Payables
a) total outstanding dues of Micro and Small Enterprises	687	533
b) total outstanding dues of Others	1,698	2,293
(iii) Other Financial Liabilities	1,168	789
(b) Other Current Liabilities	3,010	4,372
(c) Provisions	2,280	2,152
(d) Current Tax Liabilities (Net)	885	530
	10,130	11,047
TOTAL - EQUITY AND LIABILITIES	2,58,951	2,50,300

For Alembic Limited

Place : Vadodara

Date : 19th May, 2026

VADODARA

Vasudevan

Chirayu Amin

Chairman

---

Alembic Limited

Consolidated Statement of Cash Flow for Year ended 31st March,2026

Rs. In Lakhs

Particulars	For the Year Ended on 31st March, 2026 (Audited)	For the Year Ended on 31st March, 2025 (Audited)
A CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit before tax	14,876	15,550
Add:
Depreciation	1,239	1,063
Interest charged	228	247
(Gain) / Loss on sale of Property, Plant and Equipments	-	105
Other Non cash items	31	(213)
Less:
Interest Income	(156)	(204)
Dividend Income	(6,295)	(6,295)
Operating Profit before change in working capital	9,922	10,252
Working capital changes:
Add / (Less):
(Increase) / Decrease in Inventories	4,715	(678)
(Increase) / Decrease in Trade Receivables	(193)	(1,021)
(Increase) / Decrease in Other Assets	320	(430)
(Increase) / Decrease in Financial Assets	237	211
Increase / (Decrease) in Trade Payables	(442)	(276)
Increase / (Decrease) in Financial Liabilities	462	210
Increase / (Decrease) in Other Liabilities	(1,362)	1,878
Increase / (Decrease) in Provisions	286	47
Cash generated from operations	13,944	10,193
Add / (Less):
Direct taxes paid (Net of refunds)	(1,938)	(1,556)
Net cash inflow from operating activities (A)	12,007	8,637
B CASH FLOW FROM INVESTING ACTIVITIES:
Add:
Proceeds from sale of Property, Plant and Equipments	-	0
Proceeds from sale / redemption of Investments	12,978	11,721
Interest received	156	204
Dividend received	6,295	6,295
Less:	19,430	18,220
Purchase of PPE and Investment Property/Increase in CWIP and Capital Advances	7,665	5,077
Purchase of Investments	17,129	15,756
Increase in Restricted Bank Balances other than Cash & Cash Equivalents	21	45
	24,816	20,878
Net cash inflow from Investing activities (B)	(5,386)	(2,658)
C CASH FLOW FROM FINANCING ACTIVITIES:
Add:
Proceeds from long term borrowings	-	530
Less:
Dividends paid	6,141	6,117
Interest and other finance costs	228	247
Repayment of borrowings	381	-
	6,750	6,364
Net cash inflow from Financing activities (C)	(6,750)	(5,834)
I. Net (Decrease) / Increase in cash and cash equivalents (A+B+C)	(130)	145
II. Cash and cash equivalents at the beginning of the period	271	126
III. Cash and cash equivalents at the end of the period (I+II)	141	271
IV. Cash and cash equivalents at the end of the period
Balances with Bank	141	270
Cash on Hand	0	1
Cash and cash equivalents	141	271

For Alembic Limited

Place : Vadodara
Date : 19th May, 2026

Chirayu Amin
Chairman

---

CNK & Associates LLP
Chartered Accountants

Independent Auditor's Report on the consolidated financial results of Alembic Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended.

TO THE BOARD OF DIRECTORS OF ALEMBIC LIMITED

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying statement of consolidated financial results of Alembic Limited (hereinafter referred to as the “Holding Company”) and its subsidiary (Holding Company and its subsidiary together referred to as “the Group”), and its share of the net profit after tax and total comprehensive income of its associate for the quarter and year ended 31st March, 2026, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements /financial results/ financial information of the subsidiary and associate, the aforesaid consolidated financial results:

a. includes results of the following entities:

(i) Alembic City Limited (Subsidiary)
(ii) Alembic Pharmaceuticals Limited (Associate)

b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard;

c. give a true and fair view in conformity with applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group and associate for the year ended 31st March, 2026.

The Nirajand Pines, 16, Wimward Business Park, Behind Emerald One Complex, In the lane of Dr. Prasant Buch’s Hospital, Jetalpur, Vadodara 590 007. Tel: +91 265 234 3483
Website: www.cnkindia.com
VADODARA | MUMBAI | CHENNAI | AHMEDABAD | GIFT CITY | GURGOON | KOLKATA | BENGALURU | DELHI | PUNE | DUBAI | ABU DHABI

---

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group and its associate in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to the status of disputed liability related to pending electricity duty matter. During the previous periods, the Company had made aggregate provision towards total principal amount being Rs. 2,052.13 lakhs for the disputed matter(s) filed against State of Gujarat, Collector of Electricity Duty & others. The interest amount thereon is not ascertainable and is disclosed as contingent liability in the consolidated Financial Statements for the year ended 31st March, 2026. Further, the Company has deposited Rs. 3,500.00 lakhs with the Hon'ble Supreme Court on 26th May, 2023 and the appeal filed by the Company has been admitted.

Our opinion is not modified in respect of above matter.

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

These consolidated financial results have been prepared on the basis of the consolidated financial statements. The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit and other comprehensive income and other financial information of the Group including its associate in accordance with applicable accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group and of its associate are responsible for maintenance of adequate accounting records in accordance with the

S

---

provisions of the Act for safeguarding of the assets of the Group and its associate and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the management and Board of the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Management and the Board of Directors of the companies included in the Group and of its associate are responsible for assessing the ability of the Group and its associate to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associate are responsible for overseeing the financial reporting process of the Group and of its associate.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material

SAN FRANCISCO, CALIF. VADODARA

---

misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management and Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associate to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associate to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the Group and its associate to express an opinion on Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the Consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

VADODARA

---

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matters

1. The accompanying consolidated financial results include audited Financial Statements of one subsidiary which reflect total assets (before consolidation adjustment) of Rs. 17,418.80 lakhs as at 31st March, 2026, total revenues (before consolidation adjustment) of Rs. 1,176.06 lakhs and Rs. 4,070.97 lakhs, total loss after tax (before consolidation adjustment) of Rs. 127.56 lakhs and Rs. 214.52 lakhs, total comprehensive loss (before consolidation adjustment) of Rs. 127.89 lakhs and Rs. 214.89 lakhs for the quarter ended and year then ended respectively and net cash Inflow (before consolidation adjustment) of Rs. 13.29 lakhs for the year then ended, which have been audited by other auditor whose financial statements, other financial information and auditor’s report have been furnished to us by the management. Our opinion on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on the report of such other auditor.

2. The accompanying consolidated financial results include the Group’s share of Total Comprehensive Income (comprising of net profit after tax and other comprehensive income) of Rs. 6,081.14 lakhs and Rs. 19,854.44 lakhs for the quarter and year ended on that date, in respect of one associate, which have been audited by other auditor, whose financial statements, other financial information and auditor’s report have been furnished to us by the management. Our opinion on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of this associate is based solely on the report of such other auditor.

SINDAC 1954 INDOOR ASSOCIATION

---

Our opinion on the Consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/financial information certified by the Board of Directors.

1. The Consolidated Financial Results includes the results for the quarter ended 31st March, 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

Our opinion is not modified in respect of above matter.

For CNK & Associates LLP
Chartered Accountants
Firm Registration No. 101961W/W-100036

Rachit Sheth
Partner
Membership No.158289
Place: Vadodara
Date: 19th May, 2026
UDIN: 26158289EVPKXM2545

---

Alembic

ALEMBIC LIMITED

CIN:L26100GJ1907PLC000033

Regd. Office: Alembic Road, Vadodara 390 003

Ph:0265 6637000

www.alembiclimited.com Email:alembic.investors@alembic.co.in

Statement of Standalone Audited Financial Results for the Quarter and Year ended 31st March, 2026
Rs. in Lakhs

Sr. No.	Particulars	Quarter Ended			Year Ended
		31.3.2026 (Audited)	31.12.2025 (Unaudited)	31.03.2025 (Audited)	31.3.2026 (Audited)	31.03.2025 (Audited)
1	Revenue from Operations	5,773	7,228	5,822	23,193	21,436
2	Other Income	241	210	278	7,277	7,451
3	Total Income	6,014	7,438	6,100	30,470	28,887
4	Expenses
	Cost of Materials Consumed	404	385	192	1,388	800
	Cost of Construction	1,463	2,238	1,549	6,002	6,005
	Changes in Inventories of Finished Goods and WIP	(65)	105	(3)	255	111
	Employee Benefit Expenses	1,174	1,032	650	3,744	2,731
	Finance Costs	37	37	45	157	183
	Depreciation and amortisation expense	325	334	266	1,201	1,024
	Other Expenses	841	762	832	3,035	2,833
	Total Expenses	4,180	4,894	3,532	15,781	13,688
5	Profit Before Tax (3-4)	1,834	2,544	2,568	14,689	15,199
6	Tax Expenses
	Current Tax	550	379	315	2,200	1,675
	Deferred Tax	301	(61)	126	5	(514)
	Short / (Excess) Provision of earlier years	30	-	(156)	30	(156)
7	Net Profit after tax for the Period	953	2,226	2,283	12,454	14,195
8	Other Comprehensive Income
(i) Items that will not be reclassified to Profit or (Loss)
(ii) Income tax relating to items that will not be reclassified to Profit or (Loss)	(11,668)	(13,729)	(2,673)	(10,363)	(3,457)
		1,240	1,805	383	898	(132)
9	Total Comprehensive Income/(Loss) for the Period	(9,476)	(9,698)	(7)	2,989	10,606
10	Paid up Equity Share Capital (Face Value of Rs 2/- per share)	5,135.64	5,135.64	5,135.64	5,135.64	5,135.64
11	Other Equity (excluding Revaluation Reserve)				62,564	56,250
12	Earnings per equity share (FV Rs. 2/- per share)
Basic & Diluted (In Rs.)	0.37	0.87	0.89	4.85	5.53

---

R. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S. S.

Alembic Limited

Segment wise Standalone Revenue and Results

Rs. in Lakhs

Sr. No.	Particulars	Quarter Ended			Year Ended
		31.03.2026
(Audited)	31.12.2025
(Unaudited)	31.03.2025
(Audited)	31.03.2026
(Audited)	31.03.2025
(Audited)
1	Segment Revenue
	Revenue from Operations
	a. Active Pharmaceutical Ingredients Business	983	1,350	778	4,659	3,221
	b. Real Estate Business	4,790	5,878	5,043	18,535	18,214
	Total Income from Operations (Net)	5,773	7,228	5,822	23,193	21,436
2	Segment Results (Profit (+)/ Loss (-) before Taxes and interest from each segment)
	a. Active Pharmaceutical Ingredients Business	(117)	214	188	565	473
	b. Real Estate Business	2,067	2,336	2,423	7,859	8,390
	Total	1,950	2,550	2,611	8,424	8,863
	Unallocable Income and Expenditure
	(i) Interest Expense	(37)	(37)	(45)	(157)	(183)
	(ii) Dividend Income and Gain/(Loss) on Fair Value Change of Financial Asset	(121)	18	(12)	6,167	6,471
	(iii) Other Income / (Expense)	42	14	15	255	47
	Total Profit Before Tax	1,834	2,544	2,568	14,689	15,199
3	Segment Assets
	a. Active Pharmaceutical Ingredients Business	18,081	18,400	18,722	18,081	18,722
	b. Real Estate Business	50,165	47,664	43,080	50,165	43,080
	c. Unallocated	27,524	40,056	39,181	27,524	39,181
	Total	95,770	1,06,120	1,00,983	95,770	1,00,983
4	Segment Liabilities
	a. Active Pharmaceutical Ingredients Business	3,480	3,350	3,128	3,480	3,128
	b. Real Estate Business	7,190	7,160	9,022	7,190	9,022
	c. Unallocated	2,954	3,988	3,514	2,954	3,514
	Total	13,625	14,498	15,664	13,625	15,664

Notes:

1. The above results have been audited by Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors of the Company.

2. The Board has recommended Dividend on equity shares at Rs 2.40 per share (face value Rs. 2/- each) i.e 120% for the year ended on 31st March, 2026 (Previous year Rs. 2.40 per share i.e 120%.)

3. The previous quarter’s / year’s figures have been regrouped / rearranged wherever necessary to make it comparable with the current quarter / year.

4. The figures for the quarter ended 31st March, 2026 and corresponding quarter ended 31st March, 2025 are the balancing figures between the audited figures in respect of full financial year and year to date figures upto third quarter of the respective financial years which were subject to limited review.

5. The Government of India has notified the implementation of four new Labour Codes effective 21st November, 2025, by consolidating and rationalizing 29 existing labour laws. The Company has provisionally estimated the financial implications thereof and has made additional provision under ‘Employee Benefit Expense’ for Rs. 143.72 lakh in the financial results for the quarter ended on 31st December, 2025. This will be reviewed and revised, if required once all applicable Rules are notified by the Government on all aspects of the Codes.

Place : Vadodara
Date : 19th May, 2026

For Alembic Limited

---

R5. In Lakhs

Alembic Limited

Statement of Standalone Assets and Liabilities

Particulars	As at 31st March, 2026 (Audited)	As at 31st March, 2025 (Audited)
ASSETS
Non-Current Assets
(a) Property, Plant and Equipments	16,995	13,533
(b) Capital Work-in-Progress	150
(c) Investment Property	29,959	27,107
(d) Financial Assets
(i) Investments	25,985	36,411
(ii) Others	497	802
(e) Other Non-Current Assets	3,500	3,500
	77,086	81,352
Current Assets
(a) Inventories	5,224	9,939
(b) Financial Assets
(i) Investments	8,905	4,956
(ii) Trade Receivables	3,021	2,789
(iii) Cash and Cash Equivalents	110	253
(iv) Bank Balances other than Cash and Cash Equivalents	187	166
(v) Others	353	319
(c) Other Current Assets	884	1,210
	18,685	19,631
TOTAL - ASSETS	95,770	1,00,983
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital	5,136	5,136
(b) Other Equity	77,010	80,183
	82,146	85,319
Liabilities
Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings	661	1,067
(ii) Other Financial Liabilities	1,021	691
(b) Provisions	372	244
(c) Deferred Tax Liability (Net)	1,941	2,834
	3,994	4,836
Current Liabilities
(a) Financial Liabilities
(i) Borrowings	403	378
(ii) Trade Payables
a) total outstanding dues of Micro and Small Enterprises	677	521
b) total outstanding dues of Others	1,619	2,237
(iii) Other Financial Liabilities	800	607
(b) Other Current Liabilities	2,838	4,253
(c) Provisions	2,280	2,152
(d) Current Tax Liabilities (Net)	1,013	680
	9,631	10,828
TOTAL - EQUITY AND LIABILITIES	95,770	1,00,983

Place : Vadodara
Date : 19th May, 2026

---

Alembic Limited

Standalone Statement of Cash Flow for Year ended 31st March, 2026

Rs. In Lakhs

Particulars	For the Year Ended on 31st March, 2026 (Audited)	For the Year Ended on 31st March, 2025 (Audited)
A CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit before tax	14,689	15,199
Add:
Depreciation	1,201	1,024
Interest charged	157	183
(Gain) / Loss on sale of Property, Plant and Equipments	-	105
Other Non cash items	37	(198)
Less:
Interest Income	(140)	(193)
Dividend Income	(6,295)	(6,295)
Operating Profit before change in working capital	9,648	9,825
Working capital changes:
Add / (Less) :
(Increase) / Decrease in Inventories	4,715	(678)
(Increase) / Decrease in Trade Receivables	(232)	(1,049)
(Increase) / Decrease in Other Assets	325	(430)
(Increase) / Decrease in Financial Assets	271	211
Increase / (Decrease) in Trade Payables	(463)	(283)
Increase / (Decrease) in Financial Liabilities	501	71
Increase / (Decrease) in Other Liabilities	(1,415)	1,840
Increase / (Decrease) in Provisions	286	47
Cash generated from operations	13,637	9,554
Add / (Less) :
(Direct taxes paid (Net of refunds)	(1,897)	(1,451)
Net cash inflow from operating activities (A)	11,740	8,103
B CASH FLOW FROM INVESTING ACTIVITIES:
Add:
Proceeds from sale of Property, Plant and Equipments	-	0
Proceeds from sale / redemption of Investments	13,029	11,511
Interest received	140	193
Dividend received	6,295	6,295
Less:	19,464	17,999
Purchase of PPE and Investment Property/Increase in CWIP and Capital Advances	7,665	5,077
Purchase of Investments	16,982	15,056
Increase in Restricted Bank Balances other than Cash & Cash Equivalents	21	45
	24,668	20,178
Net cash inflow from Investing activities (B)	(5,204)	(2,179)
C CASH FLOW FROM FINANCING ACTIVITIES:
Add:
Proceeds from long term borrowings	-	530
Less:
Dividends paid	6,141	6,117
Interest and other finance costs	157	183
Repayment of borrowings	591	-
	6,679	6,300
Net cash inflow from Financing activities (C)	(6,679)	(5,770)
I. Net (Decrease) / Increase in cash and cash equivalents (A+B+C)	(143)	154
II. Cash and cash equivalents at the beginning of the period	253	99
III. Cash and cash equivalents at the end of the period (I+II)	110	253
IV. Cash and cash equivalents at the end of the period
Balances with Bank	110	252
Cash on Hand	0	1
Cash and cash equivalents	110	253

Place : Vadodara

Date : 19th May, 2026

VADODARA

Ansgar Alabac

Ansgar Alabac

For Alembic Limited

Chirayu Amin

Chairman

---

CNK & Associates LLP
Chartered Accountants

Independent Auditor's Report on Audited Standalone Quarterly Financial Results and Year to Date Results of the Alembic Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF ALEMBIC LIMITED

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of standalone financial results of Alembic Limited (the Company) for quarter and year ended 31st March, 2026 (the “Statement”), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:

i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
ii. Give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian accounting standards (“Ind AS”) and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the quarter and year ended 31st March, 2026.

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013, as amended (“the Act”). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Standalone Financial Results” section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

The Nirat, 3rd Floor, 18, Winward Business Park, Behind Emerald One Complex, In the lane of the Prasant Burek Hospital, Jetalpur, Vadodara 390 007. Tel: +91 265 234 3483

Website: www.cnkindia.com

VADODARA | MUMBAI | CHENNAI | AHMEDABAD | GIFT CITY | GURGOON | KOLKATA | BENGALURU | DELHI | PUNE | DUBAI | ABU DHABI

---

Emphasis of Matter

We draw attention to the status of disputed liability related to pending electricity duty matter. During the previous periods, the Company had made aggregate provision towards total principal amount being Rs. 2,052.13 lakhs for the disputed matter(s) filed against State of Gujarat, Collector of Electricity Duty & others. The interest amount thereon is not ascertainable and is disclosed as contingent liability in the Standalone Financial Statements for the year ended 31st March, 2026. Further, the Company has deposited Rs. 3,500.00 lakhs with the Hon’ble Supreme Court on 26th May, 2023 and the appeal filed by the Company has been admitted.

Our opinion is not modified in respect of above matter.

Management’s and Board of Directors’ Responsibilities for the Standalone Financial Results

These standalone financial results have been prepared on the basis of the standalone annual financial statements. The Company’s Management and Board of Directors are responsible for the preparation and presentation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Management and Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financial reporting process.

VADODARA

---

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management and the Board of directors in term of requirement specified under Regulation 33 of the listing Regulations;

• Conclude on the appropriateness of the Management and the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in

SANTA ANASOCATY 1500 AYRACI

---

our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other matter

The Statement includes the results for the quarter ended 31st March, 2026 being the balancing figures between the audited figures in respect of full financial year ended 31st March, 2026 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

Our opinion is not modified in respect of above matter.

For CNK & Associates LLP
Chartered Accountants
Firm Registration No. 101961W/W-100036

Rachit Sheth
Partner
Membership No.158289
Place: Vadodara
Date: 19th May, 2026
UDIN: 26158289HFDATT9890