Employee expenses:
As per FY22 Annual report, Alembic Pharma spent 838cr which is 15.8% of revenue 5306 cr. Has 1300+ employee in R&D out of 12,216 employee. R&D employee salary will be far higher than non-R&D employee.
Aurobindo has only 1500+ in R&D out of 23000+ employees as per FY22 Annual report.
so you need to consider these factors as well when looking at employee expenses.
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