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Last Updated: April 2, 2026, 4:02 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 519216 | NSE: AJANTSOY

Ajanta Soya Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹32.25Undervalued by 67.97%vs CMP ₹19.20

P/E (10.6) × ROE (18.1%) × BV (₹20.60) × DY (2.00%)

₹31.80Undervalued by 65.63%vs CMP ₹19.20
MoS: +39.6% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 3 Fair, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹26.0522%Under (+35.7%)
Graham NumberEarnings₹28.8816%Under (+50.4%)
Earnings PowerEarnings₹7.4211%Over (-61.4%)
DCFCash Flow₹18.0713%Fair (-5.9%)
Net Asset ValueAssets₹20.707%Fair (+7.8%)
EV/EBITDAEnterprise₹36.539%Under (+90.3%)
Earnings YieldEarnings₹18.007%Fair (-6.3%)
ROCE CapitalReturns₹85.869%Under (+347.2%)
Revenue MultipleRevenue₹82.915%Under (+331.8%)
Consensus (9 models)₹31.80100%Undervalued
Key Drivers: EPS CAGR -19.2% drags value — could be higher if earnings stabilize. | Wide model spread (₹7–₹86) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -19.2%

*Investments are subject to market risks

Investment Snapshot

67
Ajanta Soya Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 26.8% ExcellentROE 18.1% ExcellentD/E 0.03 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 49.4% Stable
Earnings Quality50/100 · Moderate
OPM stable around 2% Steady
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +15% YoY GrowingProfit (4Q): -41% YoY Declining
Industry Rank80/100 · Strong
P/E 10.6 vs industry 263.2 Cheaper than peersROCE 26.8% vs industry 14.3% Above peersROE 18.1% vs industry 12.9% Above peers3Y sales CAGR: 0% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:02 am

Market Cap 154 Cr.
Current Price 19.2
Intrinsic Value₹31.80
High / Low 51.9/16.0
Stock P/E10.6
Book Value 20.6
Dividend Yield0.00 %
ROCE26.8 %
ROE18.1 %
Face Value 2.00
PEG Ratio-0.55

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

View Share Price Target for Ajanta Soya Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ajanta Soya Ltd 154 Cr. 19.2 51.9/16.010.6 20.60.00 %26.8 %18.1 % 2.00
MK Proteins Ltd 164 Cr. 4.37 9.78/3.5619.3 1.960.00 %12.9 %12.4 % 1.00
Ruchi Infrastructure Ltd 117 Cr. 4.95 10.9/4.0511.1 8.840.00 %2.89 %0.85 % 1.00
Gokul Refoils and Solvent Ltd 374 Cr. 37.8 54.0/31.019.4 35.50.00 %8.40 %4.12 % 2.00
Modi Naturals Ltd 403 Cr. 303 610/25210.4 1070.00 %18.7 %29.2 % 10.0
Industry Average11,412.83 Cr130.95263.2137.260.19%14.31%12.90%4.29

All Competitor Stocks of Ajanta Soya Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 322.01277.66256.76271.73253.63240.03272.01303.89365.52388.39312.08346.93311.75
Expenses 321.49277.03259.16271.10251.63237.35266.81292.91353.64382.31311.96338.99308.63
Operating Profit 0.520.63-2.400.632.002.685.2010.9811.886.080.127.943.12
OPM % 0.16%0.23%-0.93%0.23%0.79%1.12%1.91%3.61%3.25%1.57%0.04%2.29%1.00%
Other Income 0.900.541.662.272.462.772.201.203.581.703.741.381.73
Interest 0.730.900.640.991.551.060.921.001.310.430.870.990.84
Depreciation 0.610.290.640.670.730.680.680.710.700.760.750.750.75
Profit before tax 0.08-0.02-2.021.242.183.715.8010.4713.456.592.247.583.26
Tax % 400.00%1,650.00%-3.96%4.84%4.13%27.22%24.66%24.45%26.91%23.98%20.09%30.34%22.70%
Net Profit -0.23-0.36-1.931.182.092.694.377.929.835.021.785.272.52
EPS in Rs -0.03-0.04-0.240.150.260.330.540.981.220.620.220.650.31

Last Updated: March 3, 2026, 12:57 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 4:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4735535797003466957609311,3451,2361,0221,3301,359
Expenses 4705495736943466927448951,2971,2301,0191,2961,342
Operating Profit 336602163648633417
OPM % 1%1%1%1%0%0%2%4%4%0%0%3%1%
Other Income 2238652853999
Interest 1111153213443
Depreciation 2211122222333
Profit before tax 2271142134150453620
Tax % 27%-13%28%35%75%125%24%38%15%42%21%25%
Net Profit 13571-0102542242715
EPS in Rs 0.180.330.660.920.12-0.051.223.125.240.280.503.371.80
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)200.00%66.67%40.00%-85.71%-100.00%150.00%68.00%-95.24%100.00%575.00%
Change in YoY Net Profit Growth (%)0.00%-133.33%-26.67%-125.71%-14.29%250.00%-82.00%-163.24%195.24%475.00%

Ajanta Soya Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:12%
3 Years:0%
TTM:32%
Compounded Profit Growth
10 Years:28%
5 Years:23%
3 Years:-13%
TTM:138%
Stock Price CAGR
10 Years:24%
5 Years:37%
3 Years:-13%
1 Year:-29%
Return on Equity
10 Years:15%
5 Years:17%
3 Years:8%
Last Year:19%

Last Updated: September 5, 2025, 2:11 pm

Balance Sheet

Last Updated: December 4, 2025, 2:19 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16161616161616161616161616
Reserves 1211162529283863107110115143150
Borrowings 31616130243301003
Other Liabilities 64495970428760781411058510094
Total Liabilities 9592107112117155117160265232216259263
Fixed Assets 14101010323231354040454644
CWIP 0000001100002
Investments 11152224555182415243730
Other Assets 706776798011881106200177148176187
Total Assets 9592107112117155117160265232216259263

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 23-151121-4522212228-242516
Cash from Investing Activity + -8-1-6-1210-40-23-2520-17-14
Cash from Financing Activity + -1213-1-1133-11-264-4-1-5-3
Net Cash Flow 3-24-3-27-52-0-53-1
Free Cash Flow 23-161020-6721201619-15122
CFO/OP 672%-416%183%431%-28,620%1,043%145%72%95%-282%863%69%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.00-13.00-10.005.00-30.00-22.0013.0033.0048.005.003.0034.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 14151111161587611410
Inventory Days 262229174830211839353731
Days Payable 483235354144272537292926
Cash Conversion Cycle -854-72312-08161214
Working Capital Days -9-5-8-86-5336161213
ROCE %9%9%18%24%6%2%25%60%49%4%6%27%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 46.90%47.20%47.20%47.20%47.28%47.31%47.31%47.31%47.71%47.71%49.37%49.37%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.24%0.24%0.24%0.24%0.24%
Public 53.10%52.79%52.80%52.79%52.71%52.69%52.67%52.45%52.04%52.05%50.39%50.39%
No. of Shareholders 46,44047,08446,01843,34642,47941,05442,81441,70841,14340,30040,15639,079

Shareholding Pattern Chart

No. of Shareholders

Ajanta Soya Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.0010.0010.00
Basic EPS (Rs.) 3.370.500.2826.2215.62
Diluted EPS (Rs.) 3.370.500.2826.2215.62
Cash EPS (Rs.) 3.730.830.5827.3916.63
Book Value[Excl.RevalReserv]/Share (Rs.) 19.7416.2415.6376.5349.30
Book Value[Incl.RevalReserv]/Share (Rs.) 19.7416.2415.6376.5349.30
Revenue From Operations / Share (Rs.) 165.23127.00153.60835.67578.63
PBDIT / Share (Rs.) 5.321.501.1332.7027.32
PBIT / Share (Rs.) 4.971.160.8231.5326.31
PBT / Share (Rs.) 4.510.630.4730.9825.21
Net Profit / Share (Rs.) 3.370.500.2726.2215.62
PBDIT Margin (%) 3.211.180.733.914.72
PBIT Margin (%) 3.000.910.533.774.54
PBT Margin (%) 2.730.500.303.704.35
Net Profit Margin (%) 2.040.390.183.132.69
Return on Networth / Equity (%) 17.083.081.7734.2531.68
Return on Capital Employeed (%) 23.936.785.0039.2648.90
Return On Assets (%) 10.481.860.9615.9515.70
Total Debt / Equity (X) 0.000.000.010.000.03
Asset Turnover Ratio (%) 5.604.564.986.346.72
Current Ratio (X) 2.182.031.841.581.58
Quick Ratio (X) 1.060.800.710.601.03
Inventory Turnover Ratio (X) 13.388.559.0613.3021.48
Interest Coverage Ratio (X) 11.712.843.2359.5624.95
Interest Coverage Ratio (Post Tax) (X) 8.431.951.7948.7515.26
Enterprise Value (Cr.) 314.58193.01180.63274.6095.76
EV / Net Operating Revenue (X) 0.230.180.140.200.10
EV / EBITDA (X) 7.3515.9719.845.222.18
MarketCap / Net Operating Revenue (X) 0.260.210.160.230.12
Price / BV (X) 2.181.711.602.531.44
Price / Net Operating Revenue (X) 0.260.210.160.230.12
EarningsYield 0.070.010.010.130.21

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ajanta Soya Ltd. is a Public Limited Listed company incorporated on 30/01/1992 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L15494RJ1992PLC016617 and registration number is 016617. Currently Company is involved in the business activities of Manufacture of hydrogenated oil and vanaspati ghee. Company's Total Operating Revenue is Rs. 1329.81 Cr. and Equity Capital is Rs. 16.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Edible Oils & Solvent ExtractionSP-916, RIICO Industrial Area Phase - III, Alwar District Rajasthan 301019Contact not found
Management
NamePosition Held
Mr. Sushil Kumar GoyalManaging Director
Mr. Abhey GoyalWhole Time Director
Mr. Arun TyagiWhole Time Director
Mr. Alok Narayan PandeyIndependent Director
Mr. Rupesh DeorahIndependent Director
Ms. Sonia PoddarIndependent Director

FAQ

What is the intrinsic value of Ajanta Soya Ltd and is it undervalued?

As of 09 April 2026, Ajanta Soya Ltd's intrinsic value is ₹31.80, which is 65.63% higher than the current market price of ₹19.20, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (18.1 %), book value (₹20.6), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ajanta Soya Ltd?

Ajanta Soya Ltd is trading at ₹19.20 as of 09 April 2026, with a FY2026-2027 high of ₹51.9 and low of ₹16.0. The stock is currently near its 52-week low. Market cap stands at ₹154 Cr..

How does Ajanta Soya Ltd's P/E ratio compare to its industry?

Ajanta Soya Ltd has a P/E ratio of 10.6, which is below the industry average of 263.21. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Ajanta Soya Ltd financially healthy?

Key indicators for Ajanta Soya Ltd: ROCE of 26.8 % indicates efficient capital utilization; ROE of 18.1 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Ajanta Soya Ltd profitable and how is the profit trend?

Ajanta Soya Ltd reported a net profit of ₹27 Cr in Mar 2025 on revenue of ₹1,330 Cr. Compared to ₹42 Cr in Mar 2022, the net profit shows a declining trend.

Does Ajanta Soya Ltd pay dividends?

Ajanta Soya Ltd has a dividend yield of 0.00 % at the current price of ₹19.20. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ajanta Soya Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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