AJANTPHARM · Healthcare
Ajanta Pharmaceuticals Ltd. reported revenue of ₹1,146 cr for October to December 2024, +3.7% on the year and −3.5% on the quarter.
Operating profit (EBITDA) was ₹321 cr, a margin of 28.0%, −41 bps on the year and +181 bps on the quarter. Over the last 7 quarters the margin has ranged from 26.2% to 28.8%, averaging 27.5%. Operating costs grew +4.3%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹233 cr, +11.0% on the year and +7.9% on the quarter, with earnings per share of ₹18.64. Profit before other income, one-offs and tax grew 0.0%, so 11 points of the headline growth came from outside the core business. The tax rate of 24% is in line with its recent average.
On earnings per share of ₹71.47 over the last four quarters, the stock at ₹3,320.10 trades at 46.5 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,028 cr | ₹1,105 cr | ₹1,054 cr | ₹1,145 cr | ₹1,187 cr | ₹1,146 cr | ₹1,170 cr | ₹1,303 cr | ₹1,354 cr | ₹1,375 cr | ₹1,422 cr | ₹1,626 cr |
| YoY | — | — | — | +12% | +15% | +4% | +11% | +14% | +14% | +20% | +22% | +25% |
| EBITDA margin | 28.3% | 28.4% | 26.4% | 28.8% | 26.2% | 28.0% | 25.4% | 26.9% | 24.2% | 27.8% | 23.4% | 26.1% |
| Other income, % of PBT | 8% | 5% | 13% | 8% | 7% | 10% | 7% | 8% | 17% | 7% | 18% | 16% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 29% | 28% | 27% | 24% | 25% | 24% | 16% | 23% | 24% | 24% | 23% | 25% |
| Net profit | ₹195 cr | ₹210 cr | ₹203 cr | ₹246 cr | ₹216 cr | ₹233 cr | ₹225 cr | ₹255 cr | ₹260 cr | ₹274 cr | ₹267 cr | ₹334 cr |
| YoY | — | — | — | +18% | +11% | +11% | +11% | +4% | +20% | +18% | +19% | +31% |
| Core profit YoY | — | — | — | +25% | +6% | 0% | +4% | +3% | +4% | +21% | +14% | +23% |
| EPS | ₹15.24 | ₹16.39 | ₹15.82 | ₹19.68 | ₹17.33 | ₹18.64 | ₹18.03 | ₹20.44 | ₹20.83 | ₹21.91 | ₹21.35 | ₹26.75 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Ajanta Pharmaceuticals Ltd. reported revenue of ₹1,146 cr (+3.7% on the year) and net profit of ₹233 cr (+11.0% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved 0.0% on the year, against +11.0% for reported profit.
None of the 7 checks that could run raised a question.
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