Ajanta Pharma Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 9, 2025, 8:27 pm

Market Cap	32,013 Cr.
Current Price	2,563
High / Low	3,486/1,998
Stock P/E	35.7
Book Value	294
Dividend Yield	1.40 %
ROCE	31.6 %
ROE	23.2 %
Face Value	2.00
PEG Ratio	4.93

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Ajanta Pharma Ltd

Competitors of Ajanta Pharma Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
MPS Pharmaa Ltd	6.71 Cr.	3.51	4.33/3.05		0.80	0.00 %	9.15 %	34.9 %	10.0
Gujarat Themis Biosyn Ltd	2,663 Cr.	244	390/192	50.6	20.5	0.27 %	45.0 %	33.8 %	1.00
Gujarat Terce Laboratories Ltd	53.1 Cr.	71.5	94.9/32.1	18.0	11.9	0.00 %	9.72 %	3.44 %	10.0
Gujarat Inject (Kerala) Ltd	38.0 Cr.	26.0	29.0/8.74	38.8	6.64	0.00 %	2.65 %	2.08 %	10.0
Godavari Drugs Ltd	70.4 Cr.	93.5	155/79.0	11.4	55.4	0.00 %	14.4 %	15.5 %	10.0
Industry Average	17,255.37 Cr	1,081.84		42.42	185.80	0.37%	16.00%	16.32%	6.27

All Competitor Stocks of Ajanta Pharma Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	838	870	951	938	972	882	1,021	1,028	1,105	1,054	1,145	1,187	1,146
Expenses	598	664	729	742	802	732	750	738	791	776	815	875	825
Operating Profit	240	207	222	196	170	149	271	291	314	278	330	311	321
OPM %	29%	24%	23%	21%	17%	17%	27%	28%	28%	26%	29%	26%	28%
Other Income	24	29	33	40	35	37	32	21	14	36	26	19	30
Interest	1	7	1	1	3	1	1	2	2	2	1	6	8
Depreciation	32	31	32	33	33	33	33	34	34	34	34	34	36
Profit before tax	231	198	222	203	168	152	269	276	291	278	322	290	307
Tax %	17%	24%	21%	23%	20%	20%	23%	29%	28%	27%	24%	25%	24%
Net Profit	192	151	175	157	135	122	208	195	210	203	246	216	233
EPS in Rs	14.78	11.80	13.63	12.22	10.50	9.54	16.24	15.24	16.39	15.82	19.68	17.33	18.64

Last Updated: March 3, 2025, 5:47 pm

Below is a detailed analysis of the quarterly data for Ajanta Pharma Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹1,146.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,187.00 Cr. (Sep 2024) to ₹1,146.00 Cr., marking a decrease of 41.00 Cr..
For Expenses, as of Dec 2024, the value is ₹825.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 875.00 Cr. (Sep 2024) to ₹825.00 Cr., marking a decrease of 50.00 Cr..
For Operating Profit, as of Dec 2024, the value is ₹321.00 Cr.. The value appears strong and on an upward trend. It has increased from 311.00 Cr. (Sep 2024) to ₹321.00 Cr., marking an increase of ₹10.00 Cr..
For OPM %, as of Dec 2024, the value is 28.00%. The value appears strong and on an upward trend. It has increased from 26.00% (Sep 2024) to 28.00%, marking an increase of 2.00%.
For Other Income, as of Dec 2024, the value is ₹30.00 Cr.. The value appears strong and on an upward trend. It has increased from 19.00 Cr. (Sep 2024) to ₹30.00 Cr., marking an increase of ₹11.00 Cr..
For Interest, as of Dec 2024, the value is ₹8.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 6.00 Cr. (Sep 2024) to ₹8.00 Cr., marking an increase of ₹2.00 Cr..
For Depreciation, as of Dec 2024, the value is ₹36.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 34.00 Cr. (Sep 2024) to ₹36.00 Cr., marking an increase of ₹2.00 Cr..
For Profit before tax, as of Dec 2024, the value is ₹307.00 Cr.. The value appears strong and on an upward trend. It has increased from 290.00 Cr. (Sep 2024) to ₹307.00 Cr., marking an increase of ₹17.00 Cr..
For Tax %, as of Dec 2024, the value is 24.00%. The value appears to be improving (decreasing) as expected. It has decreased from 25.00% (Sep 2024) to 24.00%, marking a decrease of 1.00%.
For Net Profit, as of Dec 2024, the value is ₹233.00 Cr.. The value appears strong and on an upward trend. It has increased from 216.00 Cr. (Sep 2024) to ₹233.00 Cr., marking an increase of ₹17.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 18.64. The value appears strong and on an upward trend. It has increased from ₹17.33 (Sep 2024) to 18.64, marking an increase of ₹1.31.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 7, 2025, 9:21 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	931	1,208	1,474	1,749	1,983	2,126	2,055	2,588	2,890	3,341	3,743	4,209	4,532
Expenses	706	840	968	1,155	1,292	1,467	1,489	1,904	1,889	2,408	2,934	3,037	3,291
Operating Profit	224	369	505	594	691	658	567	683	1,001	933	808	1,172	1,241
OPM %	24%	31%	34%	34%	35%	31%	28%	26%	35%	28%	22%	28%	27%
Other Income	6	14	8	14	20	24	21	88	24	112	74	85	112
Interest	19	9	6	5	1	0	1	12	8	10	6	7	16
Depreciation	34	44	52	44	61	60	72	96	116	125	131	135	139
Profit before tax	177	330	456	559	648	623	514	664	900	909	745	1,114	1,198
Tax %	37%	29%	32%	26%	22%	25%	25%	30%	27%	22%	21%	27%
Net Profit	112	234	310	416	507	469	387	468	654	713	588	816	898
EPS in Rs	8.49	17.75	23.47	31.49	38.40	35.50	29.56	35.73	50.38	55.63	45.89	63.70	71.47
Dividend Payout %	13%	15%	17%	17%	23%	-0%	20%	24%	13%	11%	15%	79%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	108.93%	32.48%	34.19%	21.88%	-7.50%	-17.48%	20.93%	39.74%	9.02%	-17.53%	38.78%
Change in YoY Net Profit Growth (%)	0.00%	-76.45%	1.71%	-12.32%	-29.37%	-9.99%	38.41%	18.81%	-30.72%	-26.55%	56.31%

Ajanta Pharma Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	13%
5 Years:	15%
3 Years:	13%
TTM:	12%

Compounded Profit Growth
10 Years:	13%
5 Years:	16%
3 Years:	7%
TTM:	22%

Stock Price CAGR
10 Years:	12%
5 Years:	24%
3 Years:	30%
1 Year:	19%

Return on Equity
10 Years:	24%
5 Years:	21%
3 Years:	21%
Last Year:	23%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:45 am

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	12	18	18	18	18	18	18	18	17	17	25	25	25
Reserves	382	576	823	1,173	1,550	2,024	2,228	2,581	2,978	3,247	3,363	3,542	3,652
Borrowings	125	130	72	81	1	2	36	75	31	25	36	35	33
Other Liabilities	200	226	233	207	254	383	383	619	702	711	1,159	927	1,081
Total Liabilities	718	949	1,146	1,479	1,823	2,426	2,664	3,293	3,729	4,000	4,582	4,530	4,790
Fixed Assets	273	279	288	451	589	1,053	1,178	1,472	1,541	1,512	1,496	1,479	1,451
CWIP	12	94	170	240	339	61	262	132	108	153	209	256	349
Investments	8	63	60	86	182	190	78	79	176	147	535	349	702
Other Assets	425	513	629	703	713	1,122	1,147	1,610	1,904	2,188	2,341	2,446	2,289
Total Assets	718	949	1,146	1,479	1,823	2,426	2,664	3,293	3,729	4,000	4,582	4,530	4,790

Below is a detailed analysis of the balance sheet data for Ajanta Pharma Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹25.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹25.00 Cr..
For Reserves, as of Sep 2024, the value is ₹3,652.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹3,542.00 Cr. (Mar 2024) to ₹3,652.00 Cr., marking an increase of 110.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹33.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from ₹35.00 Cr. (Mar 2024) to ₹33.00 Cr., marking a decrease of 2.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹1,081.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹927.00 Cr. (Mar 2024) to ₹1,081.00 Cr., marking an increase of 154.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹4,790.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹4,530.00 Cr. (Mar 2024) to ₹4,790.00 Cr., marking an increase of 260.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹1,451.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹1,479.00 Cr. (Mar 2024) to ₹1,451.00 Cr., marking a decrease of 28.00 Cr..
For CWIP, as of Sep 2024, the value is ₹349.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹256.00 Cr. (Mar 2024) to ₹349.00 Cr., marking an increase of 93.00 Cr..
For Investments, as of Sep 2024, the value is ₹702.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹349.00 Cr. (Mar 2024) to ₹702.00 Cr., marking an increase of 353.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹2,289.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹2,446.00 Cr. (Mar 2024) to ₹2,289.00 Cr., marking a decrease of 157.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹4,790.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹4,530.00 Cr. (Mar 2024) to ₹4,790.00 Cr., marking an increase of 260.00 Cr..

Notably, the Reserves (₹3,652.00 Cr.) exceed the Borrowings (33.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	234	212	279	326	609	281	375	457	576	562	792	785
Cash from Investing Activity +	-104	-188	-158	-209	-383	-256	-223	-224	-282	-74	-560	65
Cash from Financing Activity +	-104	-20	-105	-117	-202	-0	-147	-129	-318	-460	-108	-1,051
Net Cash Flow	26	4	16	-0	24	25	4	104	-24	28	124	-201

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	99.00	239.00	433.00	513.00	690.00	656.00	531.00	608.00	-30.00	908.00	772.00	-34.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	59	61	64	78	59	79	82	109	93	111	103	108
Inventory Days	178	164	159	180	186	315	415	276	434	347	283	283
Days Payable	159	132	109	128	157	224	214	202	212	143	147	159
Cash Conversion Cycle	78	94	114	130	88	170	282	184	315	315	240	233
Working Capital Days	59	57	61	90	65	103	119	116	127	141	84	120
ROCE %	39%	55%	57%	52%	46%	34%	24%	27%	32%	29%	23%	32%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	70.48%	70.48%	70.48%	66.11%	66.11%	66.22%	66.22%	66.22%	66.22%	66.27%	66.26%	66.26%
FIIs	8.64%	8.30%	8.23%	10.07%	10.00%	10.19%	9.99%	9.11%	8.54%	8.36%	9.11%	9.26%
DIIs	12.29%	12.46%	12.68%	15.37%	15.52%	15.36%	15.60%	16.67%	17.48%	17.41%	17.09%	17.02%
Government	0.45%	0.45%	0.45%	0.45%	0.45%	0.46%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%
Public	8.14%	8.31%	8.15%	8.00%	7.91%	7.78%	8.21%	8.00%	7.76%	7.94%	7.51%	7.45%
No. of Shareholders	60,759	64,445	62,048	59,798	83,549	54,874	56,277	54,351	55,488	70,316	64,315	66,896

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Small Cap Fund	1,977,744	0.94	430.01	628,966	2025-03-11	214.44%
UTI Flexi Cap Fund	1,851,478	1.6	402.56	628,966	2025-03-11	194.37%
Kotak Small Cap Fund - Regular Plan	992,271	1.5	215.74	628,966	2025-03-11	57.76%
Nippon India Pharma Fund	968,214	3.05	210.51	628,966	2025-03-11	53.94%
Invesco India Contra Fund	775,259	1.26	168.56	628,966	2025-03-11	23.26%
HDFC Large and Mid Cap Fund - Regular Plan	674,373	0.91	146.63	628,966	2025-03-11	7.22%
Nippon India Multi Cap Fund	628,966	0.53	136.75	628,966	2025-03-11	0%
Canara Robeco Small Cap Fund	546,991	1.24	118.93	628,966	2025-03-11	-13.03%
Franklin India Prima Fund	527,173	1.14	114.62	628,966	2025-03-11	-16.18%
Mirae Asset Midcap Fund	510,521	0.77	111	628,966	2025-03-11	-18.83%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	64.82	45.89	82.45	75.09	53.60
Diluted EPS (Rs.)	64.77	45.89	82.45	75.09	53.60
Cash EPS (Rs.)	75.31	56.89	97.61	88.55	64.24
Book Value[Excl.RevalReserv]/Share (Rs.)	282.34	268.14	380.24	344.52	296.34
Book Value[Incl.RevalReserv]/Share (Rs.)	282.34	268.14	380.24	344.52	296.34
Revenue From Operations / Share (Rs.)	333.10	296.21	389.17	332.34	295.08
PBDIT / Share (Rs.)	99.45	69.80	121.72	117.83	88.43
PBIT / Share (Rs.)	88.73	59.45	107.13	104.48	77.51
PBT / Share (Rs.)	88.16	58.98	105.94	103.53	75.71
Net Profit / Share (Rs.)	64.60	46.54	83.01	75.20	53.33
NP After MI And SOA / Share (Rs.)	64.60	46.54	83.01	75.20	53.33
PBDIT Margin (%)	29.85	23.56	31.27	35.45	29.96
PBIT Margin (%)	26.63	20.06	27.52	31.43	26.26
PBT Margin (%)	26.46	19.91	27.22	31.15	25.65
Net Profit Margin (%)	19.39	15.71	21.33	22.62	18.07
NP After MI And SOA Margin (%)	19.39	15.71	21.33	22.62	18.07
Return on Networth / Equity (%)	22.87	17.35	21.83	21.82	17.99
Return on Capital Employeed (%)	29.95	21.21	26.98	29.02	25.06
Return On Assets (%)	17.59	12.56	17.57	17.30	14.09
Total Debt / Equity (X)	0.00	0.00	0.00	0.00	0.01
Asset Turnover Ratio (%)	0.90	0.81	0.83	0.79	0.76
Current Ratio (X)	3.05	2.49	3.50	3.13	2.71
Quick Ratio (X)	2.12	1.77	2.28	1.94	1.89
Inventory Turnover Ratio (X)	1.14	1.19	1.10	1.25	1.28
Dividend Payout Ratio (NP) (%)	78.68	15.25	11.53	12.67	24.25
Dividend Payout Ratio (CP) (%)	67.48	12.47	9.81	10.76	20.13
Earning Retention Ratio (%)	21.32	84.75	88.47	87.33	75.75
Cash Earning Retention Ratio (%)	32.52	87.53	90.19	89.24	79.87
Interest Coverage Ratio (X)	174.28	151.01	102.45	123.89	65.11
Interest Coverage Ratio (Post Tax) (X)	114.20	101.68	70.87	80.07	40.60
Enterprise Value (Cr.)	28149.11	14945.61	15321.67	15384.30	11819.91
EV / Net Operating Revenue (X)	6.69	3.99	4.59	5.32	4.57
EV / EBITDA (X)	22.40	16.95	14.66	15.02	15.24
MarketCap / Net Operating Revenue (X)	6.72	4.08	4.65	5.40	4.63
Retention Ratios (%)	21.31	84.74	88.46	87.32	75.74
Price / BV (X)	7.93	4.51	4.76	5.21	4.61
Price / Net Operating Revenue (X)	6.72	4.08	4.65	5.40	4.63
EarningsYield	0.02	0.03	0.04	0.04	0.03

After reviewing the key financial ratios for Ajanta Pharma Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 24, the value is 64.82. This value is within the healthy range. It has increased from 45.89 (Mar 23) to 64.82, marking an increase of 18.93.
For Diluted EPS (Rs.), as of Mar 24, the value is 64.77. This value is within the healthy range. It has increased from 45.89 (Mar 23) to 64.77, marking an increase of 18.88.
For Cash EPS (Rs.), as of Mar 24, the value is 75.31. This value is within the healthy range. It has increased from 56.89 (Mar 23) to 75.31, marking an increase of 18.42.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 282.34. It has increased from 268.14 (Mar 23) to 282.34, marking an increase of 14.20.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 282.34. It has increased from 268.14 (Mar 23) to 282.34, marking an increase of 14.20.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 333.10. It has increased from 296.21 (Mar 23) to 333.10, marking an increase of 36.89.
For PBDIT / Share (Rs.), as of Mar 24, the value is 99.45. This value is within the healthy range. It has increased from 69.80 (Mar 23) to 99.45, marking an increase of 29.65.
For PBIT / Share (Rs.), as of Mar 24, the value is 88.73. This value is within the healthy range. It has increased from 59.45 (Mar 23) to 88.73, marking an increase of 29.28.
For PBT / Share (Rs.), as of Mar 24, the value is 88.16. This value is within the healthy range. It has increased from 58.98 (Mar 23) to 88.16, marking an increase of 29.18.
For Net Profit / Share (Rs.), as of Mar 24, the value is 64.60. This value is within the healthy range. It has increased from 46.54 (Mar 23) to 64.60, marking an increase of 18.06.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 64.60. This value is within the healthy range. It has increased from 46.54 (Mar 23) to 64.60, marking an increase of 18.06.
For PBDIT Margin (%), as of Mar 24, the value is 29.85. This value is within the healthy range. It has increased from 23.56 (Mar 23) to 29.85, marking an increase of 6.29.
For PBIT Margin (%), as of Mar 24, the value is 26.63. This value exceeds the healthy maximum of 20. It has increased from 20.06 (Mar 23) to 26.63, marking an increase of 6.57.
For PBT Margin (%), as of Mar 24, the value is 26.46. This value is within the healthy range. It has increased from 19.91 (Mar 23) to 26.46, marking an increase of 6.55.
For Net Profit Margin (%), as of Mar 24, the value is 19.39. This value exceeds the healthy maximum of 10. It has increased from 15.71 (Mar 23) to 19.39, marking an increase of 3.68.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 19.39. This value is within the healthy range. It has increased from 15.71 (Mar 23) to 19.39, marking an increase of 3.68.
For Return on Networth / Equity (%), as of Mar 24, the value is 22.87. This value is within the healthy range. It has increased from 17.35 (Mar 23) to 22.87, marking an increase of 5.52.
For Return on Capital Employeed (%), as of Mar 24, the value is 29.95. This value is within the healthy range. It has increased from 21.21 (Mar 23) to 29.95, marking an increase of 8.74.
For Return On Assets (%), as of Mar 24, the value is 17.59. This value is within the healthy range. It has increased from 12.56 (Mar 23) to 17.59, marking an increase of 5.03.
For Total Debt / Equity (X), as of Mar 24, the value is 0.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 0.00.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.90. It has increased from 0.81 (Mar 23) to 0.90, marking an increase of 0.09.
For Current Ratio (X), as of Mar 24, the value is 3.05. This value exceeds the healthy maximum of 3. It has increased from 2.49 (Mar 23) to 3.05, marking an increase of 0.56.
For Quick Ratio (X), as of Mar 24, the value is 2.12. This value exceeds the healthy maximum of 2. It has increased from 1.77 (Mar 23) to 2.12, marking an increase of 0.35.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 1.14. This value is below the healthy minimum of 4. It has decreased from 1.19 (Mar 23) to 1.14, marking a decrease of 0.05.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 78.68. This value exceeds the healthy maximum of 50. It has increased from 15.25 (Mar 23) to 78.68, marking an increase of 63.43.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 67.48. This value exceeds the healthy maximum of 50. It has increased from 12.47 (Mar 23) to 67.48, marking an increase of 55.01.
For Earning Retention Ratio (%), as of Mar 24, the value is 21.32. This value is below the healthy minimum of 40. It has decreased from 84.75 (Mar 23) to 21.32, marking a decrease of 63.43.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 32.52. This value is below the healthy minimum of 40. It has decreased from 87.53 (Mar 23) to 32.52, marking a decrease of 55.01.
For Interest Coverage Ratio (X), as of Mar 24, the value is 174.28. This value is within the healthy range. It has increased from 151.01 (Mar 23) to 174.28, marking an increase of 23.27.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 114.20. This value is within the healthy range. It has increased from 101.68 (Mar 23) to 114.20, marking an increase of 12.52.
For Enterprise Value (Cr.), as of Mar 24, the value is 28,149.11. It has increased from 14,945.61 (Mar 23) to 28,149.11, marking an increase of 13,203.50.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 6.69. This value exceeds the healthy maximum of 3. It has increased from 3.99 (Mar 23) to 6.69, marking an increase of 2.70.
For EV / EBITDA (X), as of Mar 24, the value is 22.40. This value exceeds the healthy maximum of 15. It has increased from 16.95 (Mar 23) to 22.40, marking an increase of 5.45.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 6.72. This value exceeds the healthy maximum of 3. It has increased from 4.08 (Mar 23) to 6.72, marking an increase of 2.64.
For Retention Ratios (%), as of Mar 24, the value is 21.31. This value is below the healthy minimum of 30. It has decreased from 84.74 (Mar 23) to 21.31, marking a decrease of 63.43.
For Price / BV (X), as of Mar 24, the value is 7.93. This value exceeds the healthy maximum of 3. It has increased from 4.51 (Mar 23) to 7.93, marking an increase of 3.42.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 6.72. This value exceeds the healthy maximum of 3. It has increased from 4.08 (Mar 23) to 6.72, marking an increase of 2.64.
For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. It has decreased from 0.03 (Mar 23) to 0.02, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Ajanta Pharma Ltd as of March 12, 2025 is: ₹1,975.29

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 12, 2025, Ajanta Pharma Ltd is Overvalued by 22.93% compared to the current share price 2,563.00

Intrinsic Value of Ajanta Pharma Ltd as of March 12, 2025 is: 2,118.38

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 12, 2025, Ajanta Pharma Ltd is Overvalued by 17.35% compared to the current share price 2,563.00

Last 5 Year EPS CAGR: 7.24%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 37.50%, which is a positive sign. The company has higher reserves (2,163.00 cr) compared to borrowings (52.46 cr), indicating strong financial stability. The company has shown consistent growth in sales (73.62 cr) and profit (502.08 cr) over the years.	The stock has a high average Working Capital Days of 95.17, which may not be favorable. The stock has a high average Cash Conversion Cycle of 186.92, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Ajanta Pharma Ltd:
1. Net Profit Margin: 19.39%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 29.95% (Industry Average ROCE: 16%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 22.87% (Industry Average ROE: 16.32%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 114.2
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 2.12
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 35.7 (Industry average Stock P/E: 42.42)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Ajanta Pharma Ltd. is a Public Limited Listed company incorporated on 31/12/1979 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L24230MH1979PLC022059 and registration number is 022059. Currently Company is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company's Total Operating Revenue is Rs. 3971.12 Cr. and Equity Capital is Rs. 25.27 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Pharmaceuticals	Ajanta House, Charkop, Mumbai Maharashtra 400067	info@ajantapharma.com http://www.ajantapharma.com

Management
Name	Position Held
Mr. Mannalal B Agrawal	Chairman
Mr. Madhusudan B Agrawal	Vice Chairman
Mr. Yogesh M Agrawal	Managing Director
Mr. Rajesh M Agrawal	Joint Managing Director
Mr. K H Viswanathan	Independent Director
Mr. Prabhakar R Dalal	Independent Director
Dr. Anjana Grewal	Independent Director
Mr. Chandrakant M Khetan	Independent Director

FAQ

What is the latest intrinsic value of Ajanta Pharma Ltd?

The latest intrinsic value of Ajanta Pharma Ltd as on 11 March 2025 is ₹1975.29, which is 22.93% lower than the current market price of 2,563.00, indicating the stock is overvalued by 22.93%. The intrinsic value of Ajanta Pharma Ltd is calculated using PE ratio method. The stock has a market capitalization of ₹32,013 Cr. and recorded a high/low of ₹3,486/1,998 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹3,652 Cr and total liabilities of ₹4,790 Cr.

What is the Market Cap of Ajanta Pharma Ltd?

The Market Cap of Ajanta Pharma Ltd is 32,013 Cr..

What is the current Stock Price of Ajanta Pharma Ltd as on 11 March 2025?

The current stock price of Ajanta Pharma Ltd as on 11 March 2025 is ₹2,563.

What is the High / Low of Ajanta Pharma Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Ajanta Pharma Ltd stocks is ₹3,486/1,998.

What is the Stock P/E of Ajanta Pharma Ltd?

The Stock P/E of Ajanta Pharma Ltd is 35.7.

What is the Book Value of Ajanta Pharma Ltd?

The Book Value of Ajanta Pharma Ltd is 294.

What is the Dividend Yield of Ajanta Pharma Ltd?

The Dividend Yield of Ajanta Pharma Ltd is 1.40 %.

What is the ROCE of Ajanta Pharma Ltd?

The ROCE of Ajanta Pharma Ltd is 31.6 %.

What is the ROE of Ajanta Pharma Ltd?

The ROE of Ajanta Pharma Ltd is 23.2 %.

What is the Face Value of Ajanta Pharma Ltd?

The Face Value of Ajanta Pharma Ltd is 2.00.