Is Ajanta Pharma a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ajanta Pharma Ltd is a good quality company .

Is Ajanta Pharma undervalued or overvalued?

The key valuation ratios of Ajanta Pharma Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Ajanta Pharma share price return in the past 10 years?

Ajanta Pharma Ltd share price has appreciated 16.5% annually (CAGR) over the past ten years.

Is Ajanta Pharma a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Ajanta Pharma Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Ajanta Pharma Ltd - Stock Valuation and Financial Performance

Name: Ajanta Pharma
Brand: Ajanta Pharma

BSE: 532331 | NSE: AJANTPHARM | Pharmaceuticals & Drugs | Small Cap

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Ajanta Pharma Share Price

₹2,924.95 -14.70 -0.50%
as on 21-Nov'24 13:55

10 Year X-Ray of Ajanta Pharma:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	56.4%	51.6%	45.7%	34.5%	23.8%	27.4%	32.2%	29.4%	22.6%	32.2%	-
Value Creation Index ⓘ	3.0	2.8	2.4	1.6	0.8	1.0	1.4	1.2	0.7	1.9	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,474	1,734	1,983	2,126	2,055	2,588	2,890	3,341	3,743	4,209	4,491
Sales YoY Gr.	-	17.7%	14.4%	7.2%	-3.3%	25.9%	11.7%	15.6%	12%	12.5%	-
Adj EPS ⓘ	23.7	31.2	39.3	34.9	29.6	32.7	50.3	52.6	43.5	63.6	70.1
YoY Gr.	-	31.7%	26%	-11.1%	-15.3%	10.7%	53.5%	4.7%	-17.2%	46.1%	-
BVPS (₹) ⓘ	63.7	90.2	118.6	154.5	171.5	198.5	230.8	254.8	269.1	282.9	294.4
Adj Net Profit ⓘ	312	415	518	461	387	428	652	674	548	801	875
Cash Flow from Ops. ⓘ	279	326	609	281	375	457	576	562	792	785	-
Debt/CF from Ops. ⓘ	0.3	0.3	0	0	0.1	0.1	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	12.4%	15.4%	13.4%	12.5%
Adj EPS ⓘ	11.6%	16.6%	8.2%	46.1%
BVPSⓘ	18%	10.5%	7%	5.1%
Share Price	16.5%	34.3%	27.5%	48.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	43.5	40.8	37.6	25.5	18.1	17.7	23.3	21.5	16.5	23	24.3
Op. Profit Mgn % ⓘ	34.3	34.3	35.5	31	27.6	27	34.6	27.9	21.7	28.1	27.6
Net Profit Mgn % ⓘ	21.2	23.9	26.1	21.7	18.8	16.6	22.6	20.2	14.7	19	19.5
Debt to Equity ⓘ	0.1	0.1	0	0	0	0	0	0	0	0	0
Working Cap Days ⓘ	116	121	120	143	206	210	233	228	109	101	111
Cash Conv. Cycle ⓘ	49	62	51	58	88	93	104	122	42	32	75

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 24.30%

Sales growth is growing at healthy rate in last 3 years 13.35%

Sales growth is good in last 4 quarters at 15.19%

Net Profit has been subdued in last 3 years 8.19%

Latest Financials - Ajanta Pharma Ltd.

	Standalone	Consolidated
TTM EPS (₹)	68.4	70.1
TTM Sales (₹ Cr.)	4,218	4,491
BVPS (₹.) ⓘ	282.6	294.4
Reserves (₹ Cr.) ⓘ	3,505	3,652
P/BV ⓘ	10.40	9.99
PE ⓘ	43.01	41.97

From the Market
52 Week Low / High (₹)	1852.55 / 3485.75
All Time Low / High (₹)	1.88 / 3485.75
Market Cap (₹ Cr.)	36,720
Equity (₹ Cr.)	25
Face Value (₹)	2
Industry PE ⓘ	43

Management X-Ray of Ajanta Pharma:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

20.09

17.42

19.87

11.41

13.23

12.43

12.33

12.26

11.57

11.17

* Pledged shares as % of Promoter's holding (%)

Valuation of Ajanta Pharma

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Analyst's Notes

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Key Ratios of Ajanta Pharma

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	1,474	1,734	1,983	2,126	2,055	2,588	2,890	3,341	3,743	4,209
Operating Expenses ⓘ	968	1,147	1,296	1,467	1,489	1,905	1,891	2,412	2,959	3,037
Manufacturing Costs	144	190	211	243	207	244	270	330	387	370
Material Costs	290	317	323	317	296	538	515	678	869	880
Employee Cost	201	257	295	376	431	486	548	646	785	900
Other Costs ⓘ	334	383	467	530	555	638	558	758	918	886
Operating Profit ⓘ	505	587	687	658	566	683	999	929	783	1,172
Operating Profit Margin (%)	34.3%	33.9%	34.6%	31.0%	27.6%	26.4%	34.6%	27.8%	20.9%	27.8%
Other Income ⓘ	17	21	24	24	21	92	26	116	99	85
Interest ⓘ	6	5	1	0	1	12	8	10	6	7
Depreciation ⓘ	52	44	61	60	72	96	116	125	131	135
Exceptional Items ⓘ	-8	0	0	0	0	-4	0	0	0	0
Profit Before Tax ⓘ	456	559	648	623	514	664	900	909	745	1,114
Tax ⓘ	146	143	141	154	127	196	246	197	157	298
Profit After Tax	310	416	507	469	387	468	654	713	588	816
PAT Margin (%)	21.0%	24.0%	25.6%	22.0%	18.8%	18.1%	22.6%	21.3%	15.7%	19.4%
Adjusted EPS (₹)	23.5	31.5	38.4	35.5	29.6	35.7	50.4	55.6	46.7	64.8
Dividend Payout Ratio (%)	17%	17%	23%	0%	20%	24%	13%	11%	15%	79%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	841	1,191	1,566	2,040	2,244	2,598	2,995	3,264	3,388	3,562
Share Capital ⓘ	18	18	18	18	18	18	17	17	25	25
Reserves ⓘ	823	1,173	1,548	2,022	2,227	2,581	2,978	3,247	3,362	3,536
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	51	61	1	1	34	44	2	2	1	0
Long Term Debt	33	15	1	1	1	1	2	2	1	0
Short Term Debt	18	46	0	0	33	43	0	0	0	0
Trade Payables	109	146	178	250	225	362	374	327	423	463
Others Liabilities ⓘ	145	82	78	136	403	568	738	604	893	479
Total Liabilities ⓘ	1,146	1,479	1,823	2,426	2,906	3,572	4,109	4,197	4,705	4,504
Fixed Assets
Gross Block	550	716	895	1,417	1,579	1,965	2,130	2,207	2,283	2,389
Accumulated Depreciation	262	265	306	365	411	502	598	703	786	910
Net Fixed Assetsⓘ	288	451	589	1,053	1,168	1,463	1,532	1,504	1,496	1,479
CWIP ⓘ	155	199	254	61	262	132	108	153	209	256
Investmentsⓘ	60	77	182	190	78	79	176	147	535	349
Inventories	159	205	211	351	436	496	766	791	816	828
Trade Receivables	259	372	323	460	459	775	738	1,020	1,057	1,247
Cash Equivalents	137	43	70	93	101	205	210	212	331	131
Others Assetsⓘ	90	133	194	219	402	422	578	371	260	214
Total Assets ⓘ	1,146	1,479	1,823	2,426	2,906	3,572	4,109	4,197	4,705	4,504

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	279	326	609	281	375	457	576	562	792	785
PBT ⓘ	456	559	648	623	514	664	900	909	745	1,114
Adjustment ⓘ	51	53	86	52	62	71	115	92	131	83
Changes in Working Capital ⓘ	-82	-124	26	-254	-83	-123	-209	-200	67	-100
Tax Paid ⓘ	-146	-161	-151	-140	-118	-155	-230	-239	-151	-312
Cash Flow From Investing Activity ⓘ	-158	-209	-383	-256	-223	-224	-282	-74	-560	65
Capex	-104	-298	-296	-263	-342	-234	-170	-130	-174	-139
Net Investments	-61	78	-88	5	115	1	-96	29	-391	178
Others ⓘ	6	11	1	2	5	9	-16	28	5	27
Cash Flow From Financing Activityⓘ	-105	-117	-202	0	-147	-129	-318	-460	-108	-1,051
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-15	-19	-72	0	0	0	0	0	0	0
Interest Paid ⓘ	-6	-5	-1	0	-1	-7	-5	-7	-2	-4
Dividend Paid ⓘ	-35	-123	-114	0	-79	-113	-83	-82	-90	-642
Others ⓘ	-49	30	-15	1	-67	-8	-230	-370	-16	-405
Net Cash Flow ⓘ	16	0	24	25	4	104	-24	28	124	-201

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	43.24	40.93	36.77	26	18.07	19.32	23.38	22.77	17.68	23.49
ROCE (%)	56.43	51.59	45.72	34.49	23.84	27.44	32.2	29.37	22.57	32.22
Asset Turnover Ratio	1.42	1.33	1.21	1	0.77	0.8	0.77	0.82	1.61	1.73
PAT to CFO Conversion(x)	0.9	0.78	1.2	0.6	0.97	0.98	0.88	0.79	1.35	0.96
Working Capital Days
Receivable Days	57	66	63	67	82	87	94	95	53	53
Inventory Days	39	38	38	48	70	66	78	84	41	38
Payable Days	147	146	183	246	293	199	261	189	157	184

Ajanta Pharma Ltd Stock News

Ajanta Pharma Ltd FAQs

What is the share price of Ajanta Pharma?

Company share prices are keep on changing according to the market conditions. The closing price of Ajanta Pharma on 21-Nov-2024 13:55 is ₹2,925.

What is the market cap of Ajanta Pharma?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 13:55 the market cap of Ajanta Pharma stood at ₹36,719.8.

What is the P/E ratio of Ajanta Pharma?

The latest P/E ratio of Ajanta Pharma as of 21-Nov-2024 13:55 is 43.01.

What is the P/B ratio of Ajanta Pharma?

The latest P/B ratio of Ajanta Pharma as of 21-Nov-2024 13:55 is 10.40.

What is the 52-week high and low of Ajanta Pharma?

The 52-week high of Ajanta Pharma is ₹3,485.8 and the 52-week low is ₹1,852.6.

What is the TTM revenue of Ajanta Pharma?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ajanta Pharma is ₹4,218 ( Cr.) .

About Ajanta Pharma Ltd

Ajanta Pharma is established in 1973. Committed to 'Serve Health Care Needs Worldwide', the company produces a comprehensive range of specialty products targeting different therapeutic segments for treatment of patients, customised to each market it is present in. The company's Institutional business comprises of India Business and Africa Business. In India, company is a reliable supplier for various government bodies like Armed forces, government hospitals, canteens, stores department, etc. The product basket for India market includes multivitamins, antibiotics, eye drops, cough syrups, etc. In Africa, the company was the first Generic Company to obtain 'WHO Pre-Qualification' for Anti-Malarial product, a combination of Artemether plus Lumefantrine. It has been innovating on this product since then and has given many new variations for patient convenience and compliance.

As a part of the company’s philosophy to build sustainable and scalable business model, it set its eye on entering the world’s largest and most stringent pharmaceutical market-USA. It carved out select product portfolio which include complex technology products to get the competitive advantage in the market place. It has also made substantial investments in its R&D facilities and thereby acquired required technical and regulatory expertise to penetrate the market. It has an advanced Research & Development Centre for finished formulations and Active Pharmaceutical Ingredient (API) synthesis of different dosage forms.

Business area of the company

Ajanta Pharma is a specialty pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages. Its business includes Branded Generics in emerging markets of Asia and Africa, Generics in the developed markets of USA and Institution sales. Emerging markets are the major contributors in company’s branded generic business where it is present across Asia and Africa. It has designed customised basket of products for each of these markets and serve wide range of therapeutic segments like Anti-Biotic, Anti-Malarial, Anti-Diabetic, Cardiology, Gynecology, Orthopedics, Pediatric, Respiratory & General Health products.

Awards and accreditations

2011: Gold Trophy for Quality Excellence from Indian Drug Manufacturer's Association.
2015: Listed in Top 100 Companies of Asia by Bio Spectrum Asia, Ranked 76th.
2015: Listed in Fortune India Next 500, being 3rd largest wealth creator during last 5 years, Ranked 20th in Net Profit and 182nd in Sales.
2015: Fastest wealth creator in last 5 years as per a study by Motilal Oswal.
2016: Listed in ‘Fastest Growing Company in India’ and Ranked 21st by Outlook Business Magazine.
2017: Ajanta listed among fastest growing pharma company, ranked 11th in revenue by Businessworld.
2017: Listed among Out Performers List of Outlook Business, ranked 1st Among Stock Return.
2017: Listed among ‘Forbes India Super 50 Companies’ for the 3rd year in a row.
2017: Listed in BT 500 ranked 148th in Market Capitalisation, 327th in sales & 102nd in Profit.
2017: Ranked 186th in Next Super 100 companies by Business India.
2017: Listed as Fastest Wealth Creator for the 3rd year in a row by Motilal Oswal.
2018: Listed in Fortune 500 list of Indian companies Ranked 3rd in wealth creation.
2018: Top Export Performer Award' by the Federation of Indian Export Organisations.

Major events and milestones

1973: Ajanta started with re-packing of generic products.
1979: Launched branded OTC (Over the Counter) products.
1979: First Manufacturing Facility set up in India- (Chikalthana).
1986: Started production at second manufacturing facility in India-(Paithan).
1989: Launched block buster OTC product '30+' in India.
1992: Foray in international market.
1995: Established subsidiary in Mauritius with manufacturing facility.
2000: Got listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
2005: Strategic shift from OTC to Innovative Specialised Prescription Products in Ophthal, Dermatology & Cardiology.
2007: Set-up dedicated fully equipped R&D facility in Mumbai.
2009: Bought a manufacturing facility at Chitegaon to fuel the company's growth.
2009: API facility set up in Waluj for captive consumption.
2009: First Generic Company in the world to get WHO Geneva Pre-qualification for Anti-Malarial Drug.
2010: Entered Philippines market with unique product portfolio through Ajanta Pharma Philippines Inc.
2011: Emerged as a strong speciality player in domestic market in Ophthalmology, Dermatology and Cardiology with many brands holding leadership positions.
2012: Ranked among the Top 10 Pharma companies in Franco Africa.
2013: Began Sales in the USA.
2014: Second Dedicated R&D centre set up in Kandivli for India and Emerging Markets.
2014: Inaugurated a New Facility in Dahej, Bharuch, Gujarat, India.
2015: Launch of Montelukast lR Tablets and Chewable Tablets.
2015: Launch of Montelukast Sodium Oral Granules.
2016: USFDA Approval for Almotriptan Malate Tablets.
2017: Inaugurated & commissioned first phase at a New Facility in Guwahati, Assam, India.
2017: Dahej facility receives successful US FDA approval.
2017: Launch of Eletriptan Hydrobromide tablets in US market.
2017: USFDA approval for Entacapone tablets.
2017: Approval and launch of Clonidine Hydrochloride extended release tablets.
2018: Commissioned Ajanta's 1st ever Derma facility in Guwahati.
2019: New manufacturing facility for oral solid inaugurated at Pithampur.