The company’s share price rose by 5.5% to its intraday high of ₹2,290 per share from its previous close of ₹2170.05 on Thursday after the company announced its results for the December quarter and the interim dividend.
In the exchange filling, the company Ajanta Pharma Limited announced its result for the third quarter and the interim dividend on Wednesday.
Looking at their financials, the company’s net revenue spiked 14% from ₹972 crores in Q3FY23 to ₹1,105 in Q3FY24, and on a sequential basis company revenue increased by 7% from ₹1,028 crores in Q2FY24 from its current level.
Net profit of the company rose by 55.5% from ₹135 crores in Q3FY23 to ₹210 in Q3FY24, and on a sequential basis company revenue increased by 7.6% from ₹195 crores in Q2FY24 from its current level.
In addition, the company has announced its second interim dividend for FY24 at ₹26 per share. The record date is February 8, 2024, and the dividend will be paid on February 19, 2024.
Ajanta Ltd’s sales in India increased by 5% to ₹308 crore in the third quarter. In India, therapeutic growth varied: cardiology 6%, ophthalmology 15%, dermatology 18%, and pain management 17%.
In Asia, Q3 sales surged to ₹292 crore, up 28%, while Africa saw Q3 sales at ₹155 crore, up 7%. Total Branded Generic Q3 sales were ₹755 crore, up 13%.
However, the US Generic Business faced a Q3 downturn with sales at ₹252 crore, down 5%. Africa Institution Business saw exceptional Q3 growth at ₹86 crore, up 179%.
Ajanta Pharma Ltd is a mid-cap stock with a market capitalization of ₹27,300 crores, the share price of the company rose by 28% in the last six months and 82% in the last year.
Compared to its peers, the company has a low price-to-earnings ratio of 37, is debt-free, has an 18% return on equity, a 22.6% return on capital employed, and a 16% net profit margin.
The company’s major share was held by the promoters which is 66.22%, the foreign institution investor held 9.11%, the domestic institutional investor held 16.67% and the retail investor held an 8% stake in the company.
Ajanta Pharma Limited is an Indian specialty pharmaceutical company. The Company offers a wide range of specialty branded generic products that address a variety of chronic and acute therapies. The company manufactures and sells both branded generic and generic pharmaceutical products.
Written by Sriram KV
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