Ajanta Pharma Limited
NSE: AJANTPHARM · Pharmaceuticals · sector
₹3,381.00NSE close 2026-10-26
Key numbers
Market cap₹42,381 cr
Price₹3,381.00
52w high / low₹3,796 / ₹2,382
P/E37.2xSector median 27.9x
P/B9.4xSector median 2.9x
Book value₹361.2
Dividend yield0.82%Sector median 0.48%
ROE27.2%Sector median 11.7%
ROCE31.8%Sector median 12.3%
OPM25.4%Sector median 14.0%
Debt / equity0.05xSector median 0.16x
EV/EBITDA28.6xSector median 18.6x
Interest cover107.4x
Current ratio2.64x
Sales growth 3y+13.4%Sector median +9.6%
Profit growth 3y+21.6%Sector median +13.3%
PEG1.64x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹665 cr vs borrowings ₹212 cr (FY26): cash is higher (net cash).
- Borrowings rose in each of the last 3 years (₹1 cr → ₹212 cr).
- Operating profit covered interest 107.4x in the last 12 months.
- 20.65% of the promoters' shares are pledged (13.1% of all shares).
- Promoter holding fell by 2.78 percentage points in a year, to 63.47% (2026-09-30).
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY24, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 19% of net profit in the last 12 months.
- Debtor days went from 108 (FY24) to 124 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹3,381.00 on 2026-10-26: -10.9% from the 52-week high, +41.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,697.90 · low ₹2,393.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,187 | 1,146 | 1,170 | 1,303 | 1,354 | 1,375 | 1,422 | 1,626 |
| EBITDA | 311 | 321 | 297 | 351 | 328 | 382 | 333 | 424 |
| OPM % | 26.2% | 28.0% | 25.4% | 27.0% | 24.2% | 27.8% | 23.5% | 26.1% |
| Other income | 19 | 30 | 18 | 26 | 59 | 25 | 61 | 71 |
| Net profit | 216 | 233 | 225 | 255 | 260 | 274 | 267 | 330 |
| EPS (₹) | 17.27 | 18.60 | 18.00 | 20.44 | 20.83 | 21.91 | 21.35 | 26.75 |
| Revenue YoY | +14.1% | +20.0% | +21.5% | +24.8% | ||||
| Profit YoY | +20.2% | +17.6% | +18.4% | +29.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 3,341 | 3,743 | 4,209 | 4,648 | 5,453 | 5,776 |
| EBITDA | 929 | 783 | 1,172 | 1,260 | 1,395 | 1,467 |
| Net profit | 713 | 588 | 817 | 920 | 1,056 | 1,131 |
| EPS (₹) | 82.45 | 45.89 | 64.82 | 73.56 | 84.53 | 90.84 |
| Revenue growth | +12.0% | +12.5% | +10.4% | +17.3% | +20.2% | |
| Profit growth | -17.5% | +38.9% | +12.7% | +14.7% | +21.6% | |
| Dividend / share (₹) | 9.50 | 7.00 | 36.00 | 28.00 | 28.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +13.4% | +13.5% | +20.2% |
| Net profit | +21.6% | +10.1% | +21.6% |
| EPS | +22.6% | +2.4% | – |
| Share price | – | +1.9% (2y) | +33.2% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 3,388 | 3,567 | 3,790 | 4,527 |
| Borrowings | – | 1 | 1 | 3 | 212 |
| Cash & equivalents | – | 841 | 461 | 615 | 665 |
| Total assets | – | 4,679 | 4,638 | 5,015 | 6,155 |
| Fixed assets | – | 1,408 | 1,384 | 1,625 | 1,726 |
| Capital work in progress | – | 209 | 256 | 176 | 258 |
| Investments | – | 25 | 19 | 25 | 28 |
| Receivables | – | 1,057 | 1,247 | 1,183 | 1,854 |
| Inventory | – | 816 | 828 | 904 | 939 |
| Payables | – | 423 | 463 | 454 | 544 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 562 | 792 | 785 | 1,157 | 529 |
| Cash from investing | -74 | -560 | 65 | -377 | -429 |
| Cash from financing | -460 | -108 | -1,051 | -733 | -168 |
| Capex | 149 | 174 | 152 | 318 | 365 |
| Free cash flow | 413 | 617 | 633 | 839 | 164 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 17.4% | 22.9% | 24.3% | 23.3% |
| ROCE % | – | 22.2% | 31.4% | 31.9% | 29.4% |
| Debtor days | – | 103 | 108 | 93 | 124 |
| Inventory days | – | 283 | 283 | 308 | 289 |
| Payable days | – | 147 | 159 | 155 | 168 |
| Cash conversion cycle (days) | – | 239 | 232 | 246 | 245 |
| Working capital days | – | 164 | 158 | 144 | 155 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 63.47% |
| FIIs | 7.63% |
| DIIs | 21.94% |
| of which Mutual funds | 17.95% |
| of which Insurance | 3.58% |
| Public (non-institutions) | 6.96% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 66.26% | 66.26% | 66.26% | 66.25% | 66.25% | 66.25% | 63.48% | 63.47% |
| Promoter group | % |
|---|---|
| Rajesh M Agrawal, trustee Rajesh Agrawal Trust | 14.47% |
| Yogesh M Agrawal, trustee Yogesh Agrawal Trust | 14.47% |
| Aayush M Agrawal, trustee Aayush Agrawal Trust | 11.29% |
| Ravi P Agrawal, trustee Ravi Agrawal Trust | 10.24% |
| Gabs Investments Pvt Ltd | 10.07% |
| Ganga Exports being represented by Yogesh Agrawal, Rajesh Agrawal & Ravi Agrawal | 2.68% |
| Ravi P Agrawal | 0.23% |
| Aayush M Agrawal | 0.02% |
| Mannalal B. Agrawal | 0.00% |
| Public holders above 1% | % |
|---|---|
| Kotak Flexicap Fund | 3.22% |
| Uti-Flexi Cap Fund | 2.97% |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 2.79% |
| Aditya Birla Sun Life Mutual Fund - Aditya Birla Sun Life Midcap Fund | 2.22% |
| Tata Aia Life Insurance Co Ltd-Whole Life Mid Cap Equity Fund-Ulif 009 04/01/07 Wle 110 | 1.91% |
| Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund | 1.40% |
| Hdfc Large And Mid Cap Fund | 1.01% |
61,923 shareholders. Pledged: 20.65% of promoter shares.
Peers in Pharmaceuticals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | ₹4,17,478 cr | 34.5x | 5.0x | 15.5% | 18.7% | 28.6% | +10.0% | 0.94% |
| DIVISLAB | ₹2,39,825 cr | 82.1x | 14.3x | 18.4% | 23.0% | 34.7% | +10.8% | 0.34% |
| TORNTPHARM | ₹1,53,999 cr | 72.7x | 18.4x | 27.3% | 15.1% | 32.3% | +13.3% | 0.84% |
| ZYDUSLIFE | ₹1,15,808 cr | 25.9x | 4.3x | 17.7% | 16.8% | 27.2% | +16.4% | 0.95% |
| LAURUSLABS | ₹1,11,232 cr | 101.6x | 21.0x | 22.4% | 20.8% | 28.0% | +4.1% | 0.08% |
| CIPLA | ₹1,09,464 cr | 32.5x | 3.2x | 10.3% | 13.2% | 17.7% | +7.4% | 1.18% |
| DRREDDY | ₹1,09,460 cr | 33.9x | 2.9x | 9.0% | 10.1% | 15.5% | +11.0% | 0.61% |
| MANKIND | ₹95,486 cr | 46.7x | 5.9x | 13.4% | 13.8% | 25.1% | +17.7% | 0.04% |
| AUROPHARMA | ₹91,489 cr | 24.9x | 2.4x | 10.5% | 12.8% | 20.0% | +10.6% | 0.26% |
| AJANTPHARM | ₹42,381 cr | 37.2x | 9.4x | 27.2% | 31.8% | 25.4% | +13.4% | 0.82% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-05 | Dividend | Interim Dividend - Rs 32 Per Share |
| 2025-11-10 | Dividend | Interim Dividend - Rs 28 Per Share |
| 2024-11-06 | Dividend | Interim Dividend - Rs 28 Per Share |
| 2024-05-30 | Buyback | Buy Back |
| 2024-02-08 | Dividend | Interim Dividend - Rs 26 Per Share |
| 2023-08-04 | Dividend | Interim Dividend - Rs 10 Per Share/Special Dividend - Rs 15 Per Share |
| 2023-03-24 | Buyback | Buy Back |
| 2022-11-11 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2022-06-22 | Bonus | Bonus- 1:2 |
| 2022-01-13 | Buyback | Buyback |
| 2021-11-09 | Dividend | Interim Dividend - Rs 9.50 Per Share |
| 2020-11-12 | Dividend | Interim Dividend - Rs 9.50 Per Share |
| 2020-11-12 | Buyback | Buyback |
| 2020-07-21 | Other | Annual General Meeting |
| 2019-11-15 | Dividend | Interim Dividend - Rs 13 Per Share |
| 2019-07-09 | Other | Annual General Meeting |
| 2019-02-11 | Buyback | Buy Back |
| 2018-11-09 | Dividend | Interim Dividend - Rs 9 Per Sh |
| 2018-06-26 | Other | Annual General Meeting |
| 2017-06-23 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Pharmaceutical formulations: Manufacture and sale of pharmaceutical products
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | AJANTPHARM |
| BSE code | 532331 |
| ISIN | INE031B01049 |
| Face value | ₹2.0 |
| Incorporated | 1979-12-31 |
| Website | www.ajantapharma.com |
| Plants (India / abroad) | 7 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.