Ajanta Pharma Ltd

Ajanta Pharma Ltd

₹ 3,450 1.04%
15 Jul 4:01 p.m.
About

Ajanta Pharma is primarily engaged in development, manufacturing and marketing of speciality pharmaceutical quality finished dosages.(Source : 202003-01 Annual Report Page No:70).

Key Points

Geography-wise Business split:[1]
India: 30%
US: 29%
Asia: 22%
Africa: 16%
Africa: 3%

  • Market Cap 43,032 Cr.
  • Current Price 3,450
  • High / Low 3,507 / 2,330
  • Stock P/E 45.7
  • Book Value 338
  • Dividend Yield 0.81 %
  • ROCE 31.0 %
  • ROE 24.0 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 51.7%

Cons

  • Stock is trading at 10.2 times its book value
  • Promoter holding has decreased over last quarter: -2.76%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
849 1,015 945 1,085 926 1,077 1,129 1,102 1,014 1,209 1,220 1,207 1,211
704 738 672 758 699 761 826 766 764 879 931 866 972
Operating Profit 145 277 274 327 227 316 303 336 250 329 290 341 238
OPM % 17% 27% 29% 30% 25% 29% 27% 31% 25% 27% 24% 28% 20%
37 31 52 14 34 28 40 33 18 41 75 26 63
Interest 1 1 2 2 1 1 1 2 1 1 1 2 -1
Depreciation 32 32 33 33 33 33 33 35 39 40 42 42 44
Profit before tax 148 275 290 305 226 311 309 332 228 329 322 322 258
Tax % 21% 23% 27% 28% 28% 24% 24% 24% 15% 22% 22% 24% 23%
117 212 212 220 163 236 235 252 193 255 250 245 197
EPS in Rs 9.15 16.55 16.57 17.18 12.70 18.90 18.81 20.21 15.49 20.41 19.97 19.61 15.79
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,356 1,574 1,804 1,825 1,773 2,196 2,719 3,141 3,411 3,971 4,322 4,846
884 1,044 1,166 1,279 1,291 1,664 1,800 2,246 2,710 2,852 3,117 3,646
Operating Profit 473 529 638 547 481 533 919 895 701 1,119 1,205 1,200
OPM % 35% 34% 35% 30% 27% 24% 34% 28% 21% 28% 28% 25%
27 80 63 73 102 180 102 136 131 116 119 203
Interest 5 4 1 0 0 9 7 9 5 7 5 3
Depreciation 49 43 59 57 70 91 111 121 127 132 140 169
Profit before tax 445 563 641 562 513 613 902 901 700 1,097 1,180 1,231
Tax % 31% 25% 22% 24% 24% 28% 25% 20% 20% 26% 22% 23%
306 422 500 428 392 441 676 720 559 807 917 947
EPS in Rs 23.21 31.97 37.86 32.39 29.93 33.70 52.05 56.20 43.61 63.00 73.40 75.78
Dividend Payout % 17% 17% 23% 0% 20% 26% 12% 11% 16% 80% 38% 37%
Compounded Sales Growth
10 Years: 12%
5 Years: 12%
3 Years: 12%
TTM: 12%
Compounded Profit Growth
10 Years: 8%
5 Years: 7%
3 Years: 20%
TTM: 4%
Stock Price CAGR
10 Years: 12%
5 Years: 19%
3 Years: 34%
1 Year: 28%
Return on Equity
10 Years: 23%
5 Years: 23%
3 Years: 25%
Last Year: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 18 18 18 18 18 18 17 17 25 25 25 25
Reserves 769 1,114 1,486 1,914 2,125 2,444 2,868 3,152 3,221 3,388 3,600 4,198
71 68 0 0 0 23 26 20 33 31 31 35
229 214 245 360 379 564 621 591 1,025 773 898 1,058
Total Liabilities 1,086 1,414 1,749 2,292 2,522 3,049 3,532 3,780 4,305 4,217 4,554 5,317
271 433 573 1,037 1,162 1,449 1,519 1,492 1,484 1,465 1,742 1,845
CWIP 170 240 339 61 261 131 108 153 209 256 176 258
Investments 77 94 199 201 83 86 157 165 553 367 482 606
568 647 638 993 1,015 1,383 1,748 1,970 2,058 2,129 2,154 2,608
Total Assets 1,086 1,414 1,749 2,292 2,522 3,049 3,532 3,780 4,305 4,217 4,554 5,317

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
263 277 537 219 312 301 467 542 736 735 1,054 804
-146 -139 -340 -201 -137 -116 -163 -66 -501 105 -350 -400
-101 -128 -198 -1 -181 -134 -269 -457 -105 -1,048 -716 -360
Net Cash Flow 16 9 -1 18 -6 51 35 19 130 -207 -12 45
Free Cash Flow 154 -18 241 -42 -27 75 313 414 561 595 737 437
CFO/OP 84% 81% 105% 62% 86% 82% 72% 82% 123% 88% 111% 91%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 65 81 68 86 87 122 105 121 105 111 104 103
Inventory Days 147 167 149 290 386 240 317 278 248 229 267 286
Days Payable 104 128 121 193 173 166 159 120 128 130 132 160
Cash Conversion Cycle 108 121 96 183 300 195 264 279 225 210 238 229
Working Capital Days 55 83 73 115 132 132 138 153 92 130 116 119
ROCE % 60% 55% 48% 33% 25% 27% 34% 30% 21% 32% 33% 31%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
India IPM Outperformance (bps)
bps

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New Product Launches - India (Annual)
number
Total Medical Representatives (MRs) - Global
number
New Product Launches - Emerging Markets (Asia + Africa)
number
India Therapy Mix - Cardiology Share
%
US ANDA Products Commercialized (Cumulative)
number
US ANDAs Awaiting Approval (Cumulative)
number
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

9 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
66.22% 66.22% 66.22% 66.27% 66.26% 66.26% 66.26% 66.26% 66.25% 66.25% 66.25% 63.48%
9.99% 9.11% 8.54% 8.36% 9.11% 9.26% 8.86% 8.86% 8.53% 7.97% 8.26% 7.68%
15.60% 16.67% 17.48% 17.41% 17.09% 17.02% 17.48% 17.50% 17.90% 18.58% 18.36% 21.80%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.00%
8.21% 8.00% 7.76% 7.94% 7.51% 7.45% 7.38% 7.38% 7.32% 7.20% 7.14% 7.03%
No. of Shareholders 56,27754,35155,48870,31664,31566,89670,82768,88267,78565,40967,95565,296

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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