Ajanta Pharma Ltd

About [ edit ]

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 [ edit ]
  • Market Cap 15,139 Cr.
  • Current Price 1,748
  • High / Low 1,879 / 961
  • Stock P/E 24.2
  • Book Value 337
  • Dividend Yield 0.74 %
  • ROCE 27.6 %
  • ROE 19.4 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 20.82%
  • Company's median sales growth is 21.70% of last 10 years

Cons

  • The company has delivered a poor sales growth of 11.92% over past five years.
  • Debtor days have increased from 89.96 to 109.35 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
530 511 544 485 515 612 643 651 682 668 716 749
391 354 378 378 388 444 465 465 531 445 442 507
Operating Profit 140 157 166 107 127 168 178 186 151 223 274 242
OPM % 26% 31% 31% 22% 25% 28% 28% 29% 22% 33% 38% 32%
Other Income 5 8 15 4 2 8 12 14 54 13 5 5
Interest 0 0 0 0 1 2 5 2 4 2 2 3
Depreciation 17 17 17 19 19 23 23 24 26 28 28 29
Profit before tax 128 148 164 93 109 151 162 175 176 207 249 215
Tax % 26% 29% 23% 28% 19% 24% 28% 39% 27% 29% 32% 18%
Net Profit 94 106 125 67 89 115 116 108 129 148 170 177
EPS in Rs 10.74 12.02 14.25 7.60 10.19 13.14 13.33 12.33 14.80 16.93 19.51 20.41
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
349 409 498 677 931 1,208 1,474 1,749 1,983 2,126 2,055 2,588 2,815
284 330 409 545 706 840 969 1,161 1,292 1,467 1,489 1,904 1,924
Operating Profit 65 79 89 132 224 369 504 589 691 658 567 683 890
OPM % 19% 19% 18% 19% 24% 31% 34% 34% 35% 31% 28% 26% 32%
Other Income 2 1 10 6 6 14 9 20 20 24 21 88 78
Interest 24 20 18 15 19 9 6 5 1 0 1 12 9
Depreciation 14 21 25 32 34 44 52 44 61 60 72 96 112
Profit before tax 30 39 56 91 177 330 456 559 648 623 514 664 847
Tax % 15% 12% 10% 15% 37% 29% 32% 26% 22% 25% 25% 30%
Net Profit 25 34 51 77 112 234 310 416 507 469 387 468 624
EPS in Rs 2.89 3.86 5.76 8.78 12.74 26.61 35.25 47.23 57.59 53.25 44.35 53.60 71.65
Dividend Payout % 12% 12% 12% 11% 13% 15% 17% 17% 23% 0% 20% 24%
Compounded Sales Growth
10 Years:20%
5 Years:12%
3 Years:9%
TTM:16%
Compounded Profit Growth
10 Years:30%
5 Years:8%
3 Years:-3%
TTM:46%
Stock Price CAGR
10 Years:52%
5 Years:6%
3 Years:8%
1 Year:26%
Return on Equity
10 Years:28%
5 Years:26%
3 Years:21%
Last Year:19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
12 12 12 12 12 18 18 18 18 18 18 18 18
Reserves 145 173 217 286 382 576 823 1,173 1,550 2,024 2,228 2,581 2,896
Borrowings 250 228 191 200 125 130 72 81 1 2 36 46 24
52 82 103 151 200 226 233 207 254 383 383 649 733
Total Liabilities 459 495 522 649 718 949 1,146 1,479 1,823 2,426 2,664 3,293 3,671
138 168 214 246 273 279 288 451 589 1,053 1,178 1,472 1,429
CWIP 55 47 17 3 12 94 170 240 339 61 262 132 167
Investments 8 8 8 8 8 63 60 86 182 190 78 79 272
257 271 282 392 425 513 629 703 713 1,122 1,147 1,610 1,803
Total Assets 459 495 522 649 718 949 1,146 1,479 1,823 2,426 2,664 3,293 3,671

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
35 95 95 70 234 212 279 326 609 281 375 457
-82 -43 -51 -53 -104 -188 -158 -209 -383 -256 -223 -224
50 -46 -56 -13 -104 -20 -105 -117 -202 -0 -147 -129
Net Cash Flow 2 7 -11 4 26 4 16 -0 24 25 4 104

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 15% 14% 18% 23% 39% 55% 57% 52% 46% 34% 24% 28%
Debtor Days 105 86 76 76 59 61 64 78 59 79 82 109
Inventory Turnover 1.33 1.29 1.63 1.69 1.98 2.35 2.41 2.36 2.09 1.54 1.06 1.49

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
70.70 70.48 70.47 70.47 70.52 70.52 70.51 70.51 70.51 70.51 70.51 70.34
12.17 10.52 10.92 10.13 9.78 9.45 7.68 7.90 8.91 8.23 7.71 7.90
6.54 7.96 8.05 9.26 9.52 9.99 11.81 11.55 10.63 11.03 11.44 11.72
0.27 0.34 0.34 0.34 0.44 0.44 0.65 0.74 0.74 0.74 0.75 0.76
10.32 10.70 10.21 9.80 9.74 9.60 9.35 9.30 9.21 9.49 9.59 9.27

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