Is Ajanta Pharma Ltd (AJANTPHARM) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ajanta Pharma Ltd is a good quality company .

Is Ajanta Pharma Ltd (AJANTPHARM) undervalued or overvalued?

The key valuation ratios of Ajanta Pharma Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Ajanta Pharma Ltd (AJANTPHARM) share price return in the past 10 years?

Ajanta Pharma Ltd share price has appreciated 11% annually (CAGR) over the past ten years.

Is Ajanta Pharma Ltd (AJANTPHARM) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ajanta Pharma Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Ajanta Pharma Ltd (AJANTPHARM)?

Company share prices are keep on changing according to the market conditions. The current trading price of Ajanta Pharma Ltd (AJANTPHARM) on 30-Apr-2026 16:59:59 at 16:59 is 2824.60.

What is the P/E ratio of Ajanta Pharma?

The latest standalone P/E ratio of Ajanta Pharma as of 30-Apr-2026 is 37.42.

What is the P/B ratio of Ajanta Pharma Ltd (AJANTPHARM)?

The latest standalone P/B ratio of Ajanta Pharma Ltd (AJANTPHARM) as of 30-Apr-2026 is 8.07.

What is the 52-week high and low of Ajanta Pharma Ltd (AJANTPHARM)?

The 52-week high of Ajanta Pharma Ltd (AJANTPHARM) is Rs. 3158.20 and the 52-week low is Rs. 2335.00.

Ajanta Pharma Ltd (AJANTPHARM) Share Analysis – Quality, Pipeline & Valuation Zone & DeciZen Rating

Name: Ajanta Pharma Ltd (AJANTPHARM)
Brand: Ajanta Pharma

Key Metrics

Market Cap

₹35,289 Cr.

P/E Ratio

34.78

Price to Book (P/B)

7.69

Price to Sales (P/S)

6.78

EV/EBITDA

23.80

Return on Capital Employed (ROCE)

32.87%

Current Price

₹2,824.6

Return on Equity (ROE)

25.06%

Return on Assets (ROA)

19.72%

Operating Profit Margin

27.4%

Net Profit Margin

19.8%

Gross Profit Margin

15%

Book Value per Share

₹367.3

Sales Growth (YoY)

10.44%

Sales Growth (3 Years)

11.63%

Operating Profit Growth (1 Year)

7.47%

Operating Profit Growth (3 Years)

10.67%

Net Profit Growth (1 Year)

12.77%

52-Week Low / High

₹2,335 / 3,158

Net Profit Growth (3 Years)

8.9%

Dividend Yield

1.07%

Promoter Holding

66.25%

Pledged shares (%)
of Promoter's holding (%)

17.94%

Check Before You Invest

Q.1 Stock return of Ajanta Pharma Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 11% based on the current price.

Q.1 Revenue growth of Ajanta Pharma Ltd?

Ajanta Pharma Ltd revenue growth is 10.4% for FY-2025, which is below its 5-year CAGR of 12.43%, indicating slower growth.

Q.1 Which industry/sub-sector does Ajanta Pharma Ltd belong to?

Ajanta Pharma Ltd belongs to the Healthcare sector, operating specifically within the Pharmaceuticals & Drugs segment.

Q.1 Promoter shareholding and pledge status of Ajanta Pharma Ltd?

Promoters hold 66.25% of the Ajanta Pharma Ltd, with 17.94% of their stake pledged, indicating high pledge risk.

Q.1 Revenue growth of Ajanta Pharma Ltd vs industry peers?

Ajanta Pharma Ltd revenue CAGR is 12.43%, compared to the industry median CAGR of 8.30%, indicating faster growth and gaining its market share.

DeciZen - make an informed investing decision on Ajanta Pharma

Based on:

Data
Research

Consolidated basis

1. Right Stock

2. Right Price

Price Chart

3. Right Time ⓘ

#Likely Future 5 Year CAGR.

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

Ajanta Pharma stock performance

Key Ratios

Is Ajanta Pharma Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	51.6%	45.7%	34.5%	23.8%	27.4%	32.2%	29.4%	22.6%	32.2%	32.9%	-
Value Creation Index ⓘ	2.8	2.4	1.6	0.8	1.0	1.4	1.2	0.7	1.9	1.9	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,734	1,983	2,126	2,055	2,588	2,890	3,341	3,743	4,209	4,648	5,202
Sales YoY Gr.	-	14.4%	7.2%	-3.3%	25.9%	11.7%	15.6%	12%	12.5%	10.4%	-
Adj EPS ⓘ	31.2	39.3	34.9	29.6	32.7	50.3	52.6	43.5	63.6	72	81.2
YoY Gr.	-	26%	-11.1%	-15.3%	10.7%	53.5%	4.7%	-17.2%	46.1%	13.1%	-
BVPS (₹) ⓘ	90.2	118.6	154.5	171.5	198.5	230.8	254.8	269.1	282.9	303	367.3
Adj Net Profit ⓘ	415	518	461	387	428	652	674	548	801	899	1,015
Cash Flow from Ops. ⓘ	326	609	281	375	457	576	562	792	785	1,157	-
Debt/CF from Ops. ⓘ	0.3	0	0	0.1	0.1	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11.6%	12.4%	11.6%	10.4%
Adj EPS ⓘ	9.8%	17.1%	11%	13.1%
BVPSⓘ	14.4%	8.8%	6%	7.1%
Share Price	11%	18.2%	30.1%	9.3%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	40.8	37.6	25.5	18.1	17.7	23.3	21.5	16.5	23	24.5	24.2
Op. Profit Mgn % ⓘ	34.3	35.5	31	27.6	27	34.6	27.9	21.7	28.1	27.4	27.4
Net Profit Mgn % ⓘ	23.9	26.1	21.7	18.8	16.6	22.6	20.2	14.7	19	19.4	19.5
Debt to Equity ⓘ	0.1	0	0	0	0	0	0	0	0	0	-
Working Cap Days ⓘ	121	120	143	206	210	233	228	109	101	93	111
Cash Conv. Cycle ⓘ	62	51	58	88	93	104	122	42	32	30	73

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	75.5	81.2
TTM Sales (₹ Cr.)	4,649	5,202
BVPS (₹) ⓘ	350	367.3
Reserves (₹ Cr.) ⓘ	4,348	4,564
P/BV ⓘ	8.07	7.69
PE ⓘ	37.42	34.78

From the Market
52 Week Low / High (₹)	2335.00 / 3158.20
All Time Low / High (₹)	1.88 / 3485.75
Market Cap (₹ Cr.)	35,289
Equity (₹ Cr.)	25
Face Value (₹)	2
Industry PE ⓘ	43.4

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

12.33

12.26

11.57

11.17

12.61

14.12

15.28

17.29

17.94

* Pledged shares as % of Promoter's holding (%)

Valuation of Ajanta Pharma - Consolidated Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	1,734	1,983	2,126	2,055	2,588	2,890	3,341	3,743	4,209	4,648
Operating Expenses ⓘ +	1,147	1,296	1,467	1,489	1,905	1,891	2,412	2,959	3,037	3,389
Manufacturing Costs	190	211	243	207	244	270	330	387	370	393
Material Costs	317	323	317	296	538	515	678	869	880	892
Employee Cost	257	295	376	431	486	548	646	785	900	1,090
Other Costs ⓘ	383	467	530	555	638	558	758	918	886	1,014
Operating Profit ⓘ	587	687	658	566	683	999	929	783	1,172	1,260
Operating Profit Margin (%)	33.9%	34.6%	31.0%	27.6%	26.4%	34.6%	27.8%	20.9%	27.8%	27.1%
Other Income ⓘ +	21	24	24	21	92	26	116	99	85	95
Exceptional Items ⓘ	0	0	0	0	-4	0	0	0	0	0
Interest ⓘ	5	1	0	1	12	8	10	6	7	21
Depreciation ⓘ	44	61	60	72	96	116	125	131	135	144
Profit Before Tax ⓘ	559	648	623	514	664	900	909	745	1,114	1,189
Tax ⓘ	143	141	154	127	196	246	197	157	298	269
Profit After Tax	416	507	469	387	468	654	713	588	816	920
PAT Margin (%)	24.0%	25.6%	22.1%	18.8%	18.1%	22.6%	21.3%	15.7%	19.4%	19.8%
Adjusted EPS (₹)	31.5	38.4	35.5	29.6	35.7	50.4	55.6	46.7	64.8	73.7
Dividend Payout Ratio (%)	16.90%	22.60%	0%	20.30%	24.30%	12.60%	11.40%	15%	78.70%	38%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	1,191	1,566	2,040	2,244	2,598	2,995	3,264	3,388	3,562	3,785
Share Capital ⓘ	18	18	18	18	18	17	17	25	25	25
Reserves ⓘ	1,173	1,548	2,022	2,227	2,581	2,978	3,247	3,362	3,536	3,760
Debt +	61	1	1	34	44	2	2	1	0	0
Long Term Debt	15	1	1	1	1	2	2	1	0	0
Short Term Debt	46	0	0	33	43	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	146	178	250	225	362	374	327	423	463	454
Others Liabilities ⓘ	82	78	136	403	568	738	604	893	479	589
Total Liabilities ⓘ	1,479	1,823	2,426	2,906	3,572	4,109	4,197	4,705	4,504	4,829
Fixed Assets
Net Fixed Assets ⓘ +	451	589	1,053	1,168	1,463	1,532	1,504	1,496	1,479	1,762
Gross Block	716	895	1,417	1,579	1,965	2,130	2,207	2,283	2,389	2,801
Accumulated Depreciation	265	306	365	411	502	598	703	786	910	1,039
CWIP ⓘ	199	254	61	262	132	108	153	209	256	176
Investments ⓘ	77	182	190	78	79	176	147	535	349	464
Inventories	205	211	351	436	496	766	791	816	828	904
Trade Receivables	372	323	460	459	775	738	1,020	1,057	1,247	1,183
Cash Equivalents	43	70	93	101	205	210	212	331	131	176
Others Assets ⓘ	133	194	219	402	422	578	371	260	214	163
Total Assets ⓘ	1,479	1,823	2,426	2,906	3,572	4,109	4,197	4,705	4,504	4,829

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	326	609	281	375	457	576	562	792	785	1,157
PBT ⓘ	559	648	623	514	664	900	909	745	1,114	1,189
Adjustment ⓘ	53	86	52	62	71	115	92	131	83	112
Changes in Working Capital ⓘ	-124	26	-254	-83	-123	-209	-200	67	-100	179
Tax Paid ⓘ	-161	-151	-140	-118	-155	-230	-239	-151	-312	-323
Cash Flow From Investing Activity ⓘ +	-209	-383	-256	-223	-224	-282	-74	-560	65	-377
Capex	-298	-296	-263	-342	-234	-170	-130	-174	-139	-317
Net Investments	78	-88	5	115	1	-96	29	-391	178	-104
Others ⓘ	11	1	2	5	9	-16	28	5	27	44
Cash Flow From Financing Activity ⓘ +	-117	-202	-0	-147	-129	-318	-460	-108	-1,051	-733
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-19	-72	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-5	-1	-0	-1	-7	-5	-7	-2	-4	-17
Dividend Paid ⓘ	-123	-114	-0	-79	-113	-83	-82	-90	-642	-349
Others ⓘ	30	-15	1	-67	-8	-230	-370	-16	-405	-367
Net Cash Flow ⓘ	-0	24	25	4	104	-24	28	124	-201	47

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	40.93	36.77	26	18.07	19.32	23.38	22.77	17.68	23.49	25.06
ROCE (%)	51.59	45.72	34.49	23.84	27.44	32.2	29.37	22.57	32.22	32.87
Asset Turnover Ratio	1.33	1.21	1	0.77	0.8	0.77	0.82	1.61	1.73	1.91
PAT to CFO Conversion(x)	0.78	1.2	0.6	0.97	0.98	0.88	0.79	1.35	0.96	1.26
Working Capital Days
Receivable Days	65.80	63.40	67.10	81.60	87.10	93.70	94.50	52.90	52.70	49.80
Inventory Days	37.90	37.90	48.10	69.80	65.70	78.10	83.70	40.90	37.60	35.50
Payable Days	146.40	183.20	246	293	199.40	260.90	188.80	157.40	183.70	187.70

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Ajanta Pharma Ltd FAQs

The current trading price of Ajanta Pharma on 30-Apr-2026 16:59 is ₹2,824.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Apr-2026 the market cap of Ajanta Pharma stood at ₹35,289.3 Cr

The latest P/E ratio of Ajanta Pharma as of 29-Apr-2026 is 37.42.

The latest P/B ratio of Ajanta Pharma as of 29-Apr-2026 is 8.07.

The 52-week high of Ajanta Pharma is ₹3,158.2 and the 52-week low is ₹2,335.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ajanta Pharma is ₹4,649 ( Cr.) .

About Ajanta Pharma Ltd

Ajanta Pharma is a specialty pharmaceuticals formulation company with a well-diversified Branded Generics business spread across India, Asia, and Africa as also US Generics and Institutional business in Africa. In Branded Generics business, the Company has a strong chronic-focused product portfolio led by a first-to-market strategy and front-end presence which helps it outgrow the market. The Company is committed to investing in R&D for product innovations to meet the unmet medical needs by filling identified gaps.

Business area of the company

The company is a specialty pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages. Its business includes Branded Generics in emerging markets of Asia and Africa, Generics in the developed markets of USA and Institution sales. It has designed customised basket of products for each of these markets and serve wide range of therapeutic segments like Anti-Biotic, Anti-Malarial, Anti-Diabetic, Cardiology, Gynecology, Orthopedics, Pediatric, Respiratory & General Health products.

Products of the company

Tablets
Capsules
Sterile eye drops
Dry powder suspension
Liquids
Injectables
Ointments
Creams

Awards and accreditations

2011: Gold Trophy for Quality Excellence from Indian Drug Manufacturer's Association.
2015: Listed in Top 100 Companies of Asia by Bio Spectrum Asia, Ranked 76th.
2015: Listed in Fortune India Next 500, being 3rd largest wealth creator during last 5 years, Ranked 20th in Net Profit and 182nd in Sales.
2015: Fastest wealth creator in last 5 years as per a study by Motilal Oswal.
2016: Listed in ‘Fastest Growing Company in India’ and Ranked 21st by Outlook Business Magazine.
2017: Ajanta listed among fastest growing pharma company, ranked 11th in revenue by Businessworld.
2017: Listed among Out Performers List of Outlook Business, ranked 1st Among Stock Return.
2017: Listed among ‘Forbes India Super 50 Companies’ for the 3rd year in a row.
2017: Listed in BT 500 ranked 148th in Market Capitalisation, 327th in sales & 102nd in Profit.
2017: Ranked 186th in Next Super 100 companies by Business India.
2017: Listed as Fastest Wealth Creator for the 3rd year in a row by Motilal Oswal.
2018: Listed in Fortune 500 list of Indian companies Ranked 3rd in wealth creation.
2018: Top Export Performer Award' by the Federation of Indian Export Organisations.
2021: Listed in Fortune 500 list of Indian companies. Ranked 379th in Revenue Generation.
2022: Ajanta wins Excellence in Packaging Developed in India & Packaging Team of the Year at India Packaging Awards 2022.
2022: Ajanta wins 'Maharashtra State Best Employer Brand Awards 2022' in Pharma sector.
2022: Ajanta Pharma awarded 'India's Best Managed Companies' for 2022 by Deloitte.
2023: Ajanta wins Times Ascent Global Best Employer Brands 2023.
2023: Ajanta wins 'Outstanding Export Performance Award' from Pharmexcil in 'Formulation' category.
2024: Ajanta wins 'Golden Peacock Business Excellence Award 2024' in the Pharma sector.
2024: Ajanta wins 'SKOCH ESG Award 2024' for Clean & Green Energy Utilisation.
2024: Ajanta wins 'Pharma Supply Chain Champion' Award in Mid Sized firms category.
2024: Ajanta wins 'Apex India Green Leaf Platinum Award 2023 for Sustainability' in Pharma sector.
2024: Ajanta's Paithan facility recognized with 'Apex India Safe Workplace Gold Award 2023' in Pharma sector.
2024: Ajanta's Dahej Facility wins Silver Medal from National Awards for Manufacturing Competitiveness (NAMC).
2024: Ajanta wins Packaging Team of the Year at India Packaging Awards 2024.
2024: Ajanta wins 'Outstanding Export Performance Award' from Pharmexcil in 'Formulation' category.
2024: Ajanta's Dahej facility recognized with 'Best Manufacturing Facility Award' at the Pharma Manufacturing & Automation Excellence (PM & AE) Awards.
2024: Ajanta's Paithan facility presented with one Platinum and two Silver Kaizen awards at the 50th CII National Kaizen Competition.
2024: Ajanta's Guwahati Facility presented with 'Best Labour Law Compliant Establishment' by Government of Assam.
2024: Ajanta wins ‘Star Champion’, ‘Star Challenger’, and ‘Jury Challenger’ awards at the next level of the Kaizen Competition.
2025: Ajanta wins Pharma Supply Chain Award for ‘Best-in-Class Inventory Planning’.
2025: Ajanta wins 'Pharma Company of the Year' & 'Excellence in Supply chain, Logistics and Distribution' at the Economic Times Re-Pharma Awards.
2025: Ajanta presented with 'Excellence in Pharma Research & Development Award' at the World HRD Congress.
2025: Ajanta's Paithan facility clinched Gold in Alarm Category, Silver in Control Category, and Silver in Shutdown Category at CII National Poka Yoke Competition.
2025: Ajanta recognized by Ethiopian Pharmaceutical Supply Service (EPSS), Ethiopia, for ensuring speedy delivery of anti-malarial medicines.
2025: Ajanta wins Platinum in Breakthrough Category, Gold in Innovative & Restorative Categories, and Silver in Renovative Category at 51st CII National Kaizen Competition.
2025: Ajanta presented with ‘Industry 4.0 Initiatives’ and ‘Environmental Consciousness’ awards by Chamber of Marathwada Industries & Agriculture (CMIA).
2025: Ajanta's Paithan facility wins Pharma Quality Excellence Awards for ‘Good Documentation Practices’ and ‘QMS Integration’.
2025: Ajanta's Pithampur facility presented with 'Environmental Excellence Award' by Government of Madhya Pradesh.
2025: Ajanta wins ‘Excellence in Supply Chain & Logistics Packaging’ and ‘Packaging Team of the Year’ at India Pharma Packaging Awards 2025.
2025: Ajanta's Guwahati Facility wins Gold Medal at National Awards for Manufacturing Competitiveness (NAMC).

Major events and milestones

1973: Ajanta started with re-packing of generic products.
1979: Launched branded OTC (Over the Counter) products.
1979: First Manufacturing Facility set up in India- (Chikalthana).
1986: Started production at second manufacturing facility in India-(Paithan).
1989: Launched block buster OTC product '30+' in India.
1992: Foray in international market.
1995: Established subsidiary in Mauritius with manufacturing facility.
2000: Got listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
2005: Strategic shift from OTC to Innovative Specialised Prescription Products in Ophthal, Dermatology & Cardiology.
2007: Set-up dedicated fully equipped R&D facility in Mumbai.
2009: Bought a manufacturing facility at Chitegaon to fuel the company's growth.
2009: API facility set up in Waluj for captive consumption.
2009: First Generic Company in the world to get WHO Geneva Pre-qualification for Anti-Malarial Drug.
2010: Entered Philippines market with unique product portfolio through Ajanta Pharma Philippines Inc.
2011: Emerged as a strong speciality player in domestic market in Ophthalmology, Dermatology and Cardiology with many brands holding leadership positions.
2012: Ranked among the Top 10 Pharma companies in Franco Africa.
2013: Began Sales in the USA.
2014: Second Dedicated R&D centre set up in Kandivli for India and Emerging Markets.
2014: Inaugurated a New Facility in Dahej, Bharuch, Gujarat, India.
2015: Launch of Montelukast lR Tablets and Chewable Tablets.
2015: Launch of Montelukast Sodium Oral Granules.
2016: USFDA Approval for Almotriptan Malate Tablets.
2017: Inaugurated & commissioned first phase at a New Facility in Guwahati, Assam, India.
2017: Dahej facility receives successful US FDA approval.
2017: Launch of Eletriptan Hydrobromide tablets in US market.
2017: USFDA approval for Entacapone tablets.
2017: Approval and launch of Clonidine Hydrochloride extended release tablets.
2018: Commissioned Ajanta's 1st ever Derma facility in Guwahati.
2019: New manufacturing facility for oral solid inaugurated at Pithampur.
2023: Ajanta Pharma gets USFDA’s final nod for Topiramate Extended-Release Capsules.
2023: Ajanta Pharma inks partnership with Credible Innovations.
2025: Ajanta Pharma enters into in-licensing agreement with Biocon.
2026: Ajanta Pharma incorporates wholly owned subsidiary in Ireland.

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Ajanta Pharma Ltd (AJANTPHARM) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Ajanta Pharma Share Price