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Swing Capital

Ajanta Pharma Ltd

NSE: AJANTPHARM BSE: 532331Pharma

Ajanta Pharma is primarily engaged in development, manufacturing and marketing of speciality pharmaceutical quality finished dosages.(Source : 202003-01 Annual Report Page No:70).

₹3,217
52W: ₹2330 — ₹3300
PE 42.4 · Book ₹338 · +852% vs book
Market Cap₹40,189 Cr
Stock P/E42.4Price to Earnings
ROCE31.2%Return on Capital
ROE24.1%Return on Equity
Div. Yield0.87%Face Value ₹2

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Stock is trading at 9.47 times its book value

Shareholding Pattern

Promoters66.25%
FIIs8.26%
DIIs18.36%
Public7.14%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters66.27%66.26%▼0.066.26%66.26%66.26%66.25%▼0.066.25%66.25%
FIIs8.36%9.11%▲0.89.26%▲0.28.86%▼0.48.86%8.53%▼0.37.97%▼0.68.26%▲0.3
DIIs17.41%17.09%▼0.317.02%▼0.117.48%▲0.517.5%▲0.017.9%▲0.418.58%▲0.718.36%▼0.2
Public7.94%7.51%▼0.47.45%▼0.17.38%▼0.17.38%7.32%▼0.17.2%▼0.17.14%▼0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,0859261,0771,1291,1021,0141,2091,2201,2071,211
Expenses758699761826766764879931866972
Operating Profit327227316303336250329290341238
OPM %30%25%29%27%31%25%27%24%28%20%
Net Profit220163236235252193255250245197
EPS ₹17.1812.718.918.8120.2115.4920.4119.9719.6115.79

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4,846Cr, up 12.1% YoY. OPM at 25%.

Debt Position

Borrowings at ₹35Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹258Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 18.36% (+3.00pp change). FIIs: 8.26% (-1.93pp change). Promoters hold 66.25%.

Margin & Efficiency

ROCE declining from 60% (Mar 2015) to 31% (Mar 2026). Working capital days: 161.

Valuation

PE 42.4x with 31.2% ROCE. Price is 852% above book value of ₹338. Dividend yield: 0.87%.

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