Financials Ajanta Pharma Limited Bombay S.E.

Equities

AJANTPHARM

INE031B01049

Pharmaceuticals

Market Closed - Bombay S.E. 11:00:48 10/05/2024 BST 5-day change 1st Jan Change
2,376 INR -1.42% Intraday chart for Ajanta Pharma Limited +6.39% +13.98%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 91,121 119,225 155,056 154,667 154,878 296,906 - -
Enterprise Value (EV) 1 91,121 119,225 155,056 154,667 146,822 280,899 288,520 280,634
P/E ratio 23.5 x 25.5 x 23.9 x 22 x 26.3 x 34.4 x 31.8 x 27.2 x
Yield 0.87% 0.95% 0.53% 0.79% 0.58% 0.85% 0.76% 0.86%
Capitalization / Revenue 4.43 x 4.61 x 5.32 x 4.63 x 4.14 x 6.67 x 6.28 x 5.6 x
EV / Revenue 4.43 x 4.61 x 5.32 x 4.63 x 3.92 x 6.67 x 6.1 x 5.29 x
EV / EBITDA 16.1 x 17.5 x 15.5 x 16.6 x 18.8 x 24 x 21.5 x 18.4 x
EV / FCF 60.7 x 54.9 x 38.3 x 37.4 x 23.8 x 47.5 x 46.3 x 33.2 x
FCF Yield 1.65% 1.82% 2.61% 2.67% 4.2% 2.1% 2.16% 3.01%
Price to Book 4.04 x 4.61 x 5.2 x 4.76 x 4.51 x 7.73 x 6.47 x 5.67 x
Nbr of stocks (in thousands) 132,035 130,892 129,798 128,124 128,125 124,887 - -
Reference price 2 690.1 910.9 1,195 1,207 1,209 2,377 2,377 2,377
Announcement Date 30/04/19 20/05/20 30/04/21 10/05/22 05/05/23 02/05/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 20,554 25,879 29,157 33,410 37,426 42,087 47,289 53,016
EBITDA 1 5,664 6,830 9,990 9,290 7,830 11,720 13,390 15,271
EBIT 1 5,154 5,876 9,344 8,040 6,524 10,365 12,186 14,046
Operating Margin 25.08% 22.71% 32.05% 24.06% 17.43% 24.63% 25.77% 26.49%
Earnings before Tax (EBT) 1 5,143 6,640 9,002 9,095 7,452 11,139 12,692 14,823
Net income 1 3,870 4,677 6,539 7,127 5,880 8,162 9,457 11,074
Net margin 18.83% 18.07% 22.43% 21.33% 15.71% 19.39% 20% 20.89%
EPS 2 29.31 35.73 50.06 54.97 45.89 64.77 74.67 87.43
Free Cash Flow 1 1,500 2,174 4,047 4,132 6,173 6,081 6,230 8,443
FCF margin 7.3% 8.4% 13.88% 12.37% 16.49% 14.47% 13.17% 15.93%
FCF Conversion (EBITDA) 26.49% 31.82% 40.51% 44.48% 78.84% 53.28% 46.53% 55.29%
FCF Conversion (Net income) 38.77% 46.47% 61.89% 57.98% 104.98% 75.25% 65.88% 76.25%
Dividend per Share 2 6.000 8.667 6.333 9.500 7.000 20.26 18.02 20.53
Announcement Date 30/04/19 20/05/20 30/04/21 10/05/22 05/05/23 02/05/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 7,487 7,594 7,480 8,848 8,379 8,703 9,509 9,381 9,718 8,818 10,210 10,248 10,526 10,217 11,368
EBITDA 1 2,420 2,590 2,200 2,630 2,400 2,070 2,220 1,960 2,070 1,490 2,710 2,588 2,818 2,620 3,136
EBIT 1 2,125 2,339 1,893 2,313 2,079 1,755 1,900 1,636 1,362 1,164 2,381 2,406 2,368 2,251 2,766
Operating Margin 28.39% 30.8% 25.31% 26.14% 24.81% 20.17% 19.98% 17.44% 14.02% 13.19% 23.32% 23.48% 22.49% 22.03% 24.33%
Earnings before Tax (EBT) 1 2,155 2,288 2,204 2,604 2,309 1,977 2,219 2,030 1,683 1,520 2,690 2,527 2,426 2,746 2,851
Net income 1 1,766 1,593 1,738 1,959 1,918 1,512 1,746 1,566 1,345 1,222 2,081 1,959 2,053 1,905 2,110
Net margin 23.59% 20.97% 23.23% 22.15% 22.89% 17.37% 18.36% 16.69% 13.84% 13.86% 20.38% 19.11% 19.5% 18.65% 18.56%
EPS 13.61 12.27 13.39 15.09 - 11.80 - 12.22 10.50 9.540 - 10.30 15.83 12.00 -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 02/02/21 30/04/21 29/07/21 29/10/21 31/01/22 10/05/22 28/07/22 03/11/22 01/02/23 05/05/23 27/07/23 - - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - - 8,055 7,971 8,386 16,272
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,500 2,174 4,047 4,132 6,173 6,081 6,230 8,443
ROE (net income / shareholders' equity) 18.1% 19.3% 23.4% 22.8% 17.7% 22% 23.2% 22.7%
ROA (Net income/ Total Assets) - 15.6% 18.4% 18.2% - - - -
Assets 1 - 30,075 35,486 39,172 - - - -
Book Value Per Share 2 171.0 198.0 230.0 253.0 268.0 308.0 367.0 419.0
Cash Flow per Share - - - - - - - -
Capex 1 3,430 2,394 1,716 1,488 1,745 1,333 1,627 1,660
Capex / Sales 16.69% 9.25% 5.89% 4.45% 4.66% 3.17% 3.44% 3.13%
Announcement Date 30/04/19 20/05/20 30/04/21 10/05/22 05/05/23 02/05/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
2,377 INR
Average target price
2,440 INR
Spread / Average Target
+2.64%
Consensus