MarketFriction

Ajanta Pharma Ltd

NSE AJANTPHARM · BSE 532331 · Pharmaceuticals
₹3,581.00 -1.10%
NSE close2026-10-01
52 week range2,329.90 - 3,796.00
Market cap₹44,454 Cr.
P/E39.2
Nifty 500Midcap 150Nifty Pharma Price band 20% Delivery 46.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,0281,1051,0541,1451,1871,1461,1701,3031,3541,3751,4221,626
Expenses7387917768158758258739511,0269931,0881,202
Operating Profit291314278330311321297351328382333424
OPM %28%28%26%29%26%28%25%27%24%28%23%26%
Other Income211436261930182659256171
Interest222168653523
Depreciation343434343436404143444544
Profit before tax276291278322290307269331341359347447
Tax %29%28%27%24%25%24%16%23%24%24%23%25%
Net Profit195210203246216233225255260274267334
EPS in Rs15.2416.3915.8219.6817.3318.6418.0320.4420.8321.9121.3526.75
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7491,9832,1262,0552,5882,8903,3413,7434,2094,6485,4535,776
Expenses1,1551,2921,4671,4891,9041,8892,4082,9343,0373,3793,9534,309
Operating Profit5946916585676831,0019338081,1721,2691,5001,467
OPM %34%35%31%28%26%35%28%22%28%27%28%25%
Other Income14202421882411274858567217
Interest51011281067211614
Depreciation4461607296116125131135144173176
Profit before tax5596486235146649009097451,1141,1891,3781,493
Tax %26%22%25%25%30%27%22%21%27%23%23%
Net Profit4165074693874686547135888169201,0561,135
EPS in Rs31.4938.4035.5029.5635.7350.3855.6345.8963.7073.6884.5290.84
Dividend Payout %17%23%0%20%24%13%11%15%79%38%33%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth12%14%13%20%
Compounded Profit Growth10%12%24%22%
Stock Price CAGR10%19%26%48%
Return on Equity23%23%25%27%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital181818181818171725252525
Reserves8231,1731,5502,0242,2282,5812,9783,2473,3633,5423,7654,502
Borrowings72811236753125363547260
Other Liabilities2332072543833836197027111,1599271,0671,250
Total Liabilities1,1461,4791,8232,4262,6643,2933,7294,0004,5824,5304,9046,037
Fixed Assets2884515891,0531,1781,4721,5411,5121,4961,4791,7621,867
CWIP17024033961262132108153209256176258
Investments60861821907879176147535349464588
Other Assets6297037131,1221,1471,6101,9042,1882,3412,4462,5023,324
Total Assets1,1461,4791,8232,4262,6643,2933,7294,0004,5824,5304,9046,037
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2793266092813754575765627927851,157529
Cash from Investing Activity-158-209-383-256-223-224-282-74-56065-377-429
Cash from Financing Activity-105-117-202-0-147-129-318-460-108-1,051-733-168
Net Cash Flow16-024254104-2428124-20147-68
Free Cash Flow176293131932228417431618646840169
CFO/OP84%82%110%64%87%89%81%86%117%94%117%59%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days64785979821099311110310893124
Inventory Days159180186315415276434347283283308289
Days Payable109128157224214202212143147159155168
Cash Conversion Cycle11413088170282184315315240233246246
Working Capital Days5678651031131081261408311997111
ROCE %57%52%46%34%24%27%32%29%23%32%32%35%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters66.22%66.22%66.22%66.27%66.26%66.26%66.26%66.26%66.25%66.25%66.25%63.49%
FIIs9.99%9.11%8.54%8.36%9.11%9.26%8.86%8.86%8.53%7.97%8.26%7.68%
DIIs15.60%16.67%17.48%17.41%17.09%17.02%17.48%17.50%17.90%18.58%18.36%21.80%
Government0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.00%
Public8.21%8.00%7.76%7.94%7.51%7.45%7.38%7.38%7.32%7.20%7.14%7.03%
No. of Shareholders56,27754,35155,48870,31664,31566,89670,82768,88267,78565,40967,95565,296

Fundamentals

Market Cap₹ 44,454 Cr.
Current Price₹ 3,558
Stock P/E39.2
Book Value₹ 362
ROCE34.5 %
ROE27.1 %
Dividend Yield0.90 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)20%
Compounded Profit Growth (TTM)22%
Consolidated figures.
Valuation
Market capRs 45,014 Cr
Enterprise valueRs 45,169 Cr
P/E (TTM)39.66x
Price to book9.94x
Price to sales7.79x
EV / EBITDA26.83x
EV / EBIT29.97x
EV / sales7.82x
Price to cash flow85.06x
Earnings yield2.52%
Dividend yield0.78%
P/E, 3-year average34.61x
P/B, 3-year average8.14x
P/E, 5-year average28.90x
P/B, 5-year average6.42x
Profitability
Operating margin (excl. other income)27.50%
Operating margin (incl. other income)28.74%
EBITDA margin29.15%
Pre-tax margin25.85%
Net profit margin19.65%
Net margin, latest quarter20.56%
ROE25.39%
ROCE32.32%
ROA19.30%
ROE, 3-year average24.63%
ROCE, 3-year average32.25%
ROA, 3-year average18.91%
ROE, 5-year average22.87%
ROCE, 5-year average29.65%
ROA, 5-year average17.77%
ROIC (approx.)24.68%
Tax rate23.35%
Other income / net worth1.48%
Growth
Sales growth (latest year)17.31%
Profit growth (latest year)14.73%
Sales CAGR, 3 years13.37%
Sales CAGR, 5 years13.54%
Profit CAGR, 3 years21.55%
Profit CAGR, 5 years10.06%
Sales growth QoQ14.37%
Profit growth QoQ25.32%
Sales growth YoY (latest quarter)24.82%
Profit growth YoY (latest quarter)30.89%
Per share
EPS (TTM)Rs 90.28
EPS (latest year)Rs 84.01
EPS (latest quarter)Rs 26.59
EPS, 3-year averageRs 73.89
EPS, 5-year averageRs 70.16
Book value per shareRs 360.14
Sales per shareRs 459.51
Cash flow per shareRs 42.10
Free cash flow per shareRs 13.44
Dividend per share (latest year)Rs 27.92
Dividend per share, 3-year averageRs 35.57
Dividend per share, 5-year averageRs 24.63
Dividends
Dividend payout33.24%
Dividend payout, 3-year average50.11%
Dividend payout, 5-year average35.36%
Efficiency
Asset turnover0.90x
Fixed asset turnover2.92x
Inventory turnover1.58x
Inventory days231 days
Debtor days124 days
Debtors turnover2.94x
Creditor days168 days
Cash conversion cycle246 days
Working capital days111 days
Leverage
Total debtRs 260 Cr
Cash and bankRs 105 Cr
Net debtRs 155 Cr
Debt to equity0.06x
Net debt / EBITDA0.09x
Interest coverage107.44x
Current ratio (filing 2026-03-31)2.64x
Quick ratio (filing 2026-03-31)1.98x
Trade payables (filing 2026-03-31)Rs 544 Cr
Owners' fund to total sources74.99%
Debt to assets4.31%
Cash flow
Cash from Operating Activity (latest year)Rs 529 Cr
Cash from Investing Activity (latest year)Rs -429 Cr
Cash from Financing Activity (latest year)Rs -168 Cr
Net Cash Flow (latest year)Rs -68 Cr
Free cash flow (latest year)Rs 169 Cr
FCFE (approx.: FCF + change in debt)Rs 382 Cr
Cash from ops / profit, 5 years0.93x
Sales to cash flow10.30x
Statement figures
Net sales (TTM)Rs 5,776 Cr
Net sales (latest year)Rs 5,453 Cr
Sales (latest quarter)Rs 1,626 Cr
Operating profit excl. other income (latest year)Rs 1,500 Cr
Operating profit (latest quarter)Rs 424 Cr
Other income (TTM)Rs 217 Cr
EBITDA (TTM)Rs 1,684 Cr
PBDT (TTM)Rs 1,670 Cr
Profit before tax (TTM)Rs 1,493 Cr
Tax (latest year)Rs 322 Cr
Net profit (TTM)Rs 1,135 Cr
Net profit (latest year)Rs 1,056 Cr
Net profit (latest quarter)Rs 334 Cr
Depreciation (TTM)Rs 176 Cr
Depreciation (latest quarter)Rs 44 Cr
Interest (TTM)Rs 14 Cr
Cost of goods sold (latest year)Rs 1,480 Cr
Total expenditure (latest year)Rs 3,953 Cr
Total income (latest year)Rs 5,520 Cr
Share capitalRs 25 Cr
ReservesRs 4,502 Cr
Shareholders' fundsRs 4,527 Cr
Total assetsRs 6,037 Cr
Net blockRs 1,867 Cr
Capital work in progressRs 258 Cr
InvestmentsRs 588 Cr
ReceivablesRs 1,854 Cr
InventoryRs 939 Cr
Other liabilitiesRs 1,250 Cr
Shares outstanding (crore)12.57
Ownership
Promoter holding63.49% (-2.77 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 39.7 is at the 83th percentile of its own 9.4-year range (median 28.6, low 15.9, high 50.0).
P/B 9.94 is at the 93th percentile (median 6.07).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodAJANTPHARMNifty 50Difference
1 week+1.2%-2.8% +4.0 pts
1 month+2.2%-6.8% +9.0 pts
3 months+7.7%-7.6% +15.3 pts
6 months+27.7%+0.4% +27.3 pts
1 year+43.8%-9.9% +53.8 pts
2 years+15.3%-13.6% +28.9 pts
3 years+99.0%+14.2% +84.8 pts
5 years+137.6%+27.9% +109.7 pts
181 mutual fund schemes hold about ₹8,766 Cr. Over three months 20 bought more and 114 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Small Cap Fund0.73%603 -7%
Kotak Flexi Cap Fund1.03%582 -3%
Kotak Flexi Cap Fund1.03%580 -3%
UTI Flexi Cap Fund1.98%478 -9%
Kotak Small Cap Fund1.99%391 -12%
Kotak Large & Mid Cap Fund1.10%355 -5%
Nippon India Pharma Fund3.47%329 -7%
HDFC Large & Mid Cap Fund1.07%323 -6%
Canara Rob Small Cap Fund1.83%269 -7%
Nippon India Multi Cap Fund0.47%267 -5%
UTI Mid Cap Fund2.07%265 -9%
Edelweiss Mid Cap Fund1.05%210 -13%
Aditya Birla SL Midcap Fund2.45%171 -7%
Aditya Birla SL Midcap Fund2.45%165 -7%
SBI Flexicap Fund0.67%155 -5%
Canara Rob Large and Mid Cap Fund0.56%149 -6%
Aditya Birla SL Flexi Cap Fund0.48%141 -10%
Aditya Birla SL Large Cap Fund0.47%141 -4%
Edelweiss Small Cap Fund1.94%141 -23%
PGIM India Midcap Fund1.16%130 -4%
Aditya Birla SL Large & Mid Cap Fund2.11%127 -6%
HDFC Multi Cap Fund0.61%126 -4%
Abakkus Flexi Cap Fund1.92%122 +26%
Canara Rob Multi Cap Fund1.97%113 -10%
Aditya Birla SL Balanced Advantage Fund1.09%111 -8%

Red flags

F-score 4 of 8
explainReceivables outrunning sales Receivables grew 57% vs sales +17% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-03-12SHAILESH R SINGHOthersell607Rs 0.19 CrMarket Sale
2025-12-26SHAILESH R SINGHOthersell750Rs 0.20 CrMarket Sale
2025-11-12SHAILESH R SINGHOthersell2,000Rs 0.51 CrMarket Sale
2025-11-11SHAILESH R SINGHOthersell3,000Rs 0.76 CrMarket Sale
2025-06-25SHAILESH R SINGHOthersell900Rs 0.23 CrMarket Sale
2025-02-27VANDANA SHAILESH SINGHOthersell548Rs 0.15 CrMarket Sale
2024-12-30J K TRIPATHIOthersell100Rs 0.03 CrMarket Sale
2024-12-18J K TRIPATHIOthersell100Rs 0.03 CrMarket Sale
2024-11-29J K TRIPATHIOthersell100Rs 0.03 CrMarket Sale
2024-11-05J K TRIPATHIOthersell49Rs 0.01 CrMarket Sale
2024-11-01J K TRIPATHIOthersell51Rs 0.02 CrMarket Sale
2024-09-05ARVIND K AGRAWALOthersell6,000Rs 1.98 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,626 Cr +24.8% vs Jun 2025. Net profit ₹334 Cr +31.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-05Interim Dividend - Rs 32 Per Share
2025-11-10Interim Dividend - Rs 28 Per Share
2024-11-06Interim Dividend - Rs 28 Per Share
2024-05-30Buy Back
2024-02-08Interim Dividend - Rs 26 Per Share
2023-08-04Interim Dividend - Rs 10 Per Share/Special Dividend - Rs 15 Per Share
2023-03-24Buy Back
2022-11-11Interim Dividend - Rs 7 Per Share
2022-06-22Bonus- 1:20.6667
2022-01-13Buyback
2021-11-09 Interim Dividend - Rs 9.50 Per Share
2020-11-12 Interim Dividend - Rs 9.50 Per Share
2020-11-12 Buyback
2020-07-21 Annual General Meeting
2019-11-15 Interim Dividend - Rs 13 Per Share
2019-07-09 Annual General Meeting
2019-02-11 Buy Back
2018-11-09 Interim Dividend - Rs 9 Per Sh
2018-06-26 Annual General Meeting
2017-06-23 Annual General Meeting
2017-03-23 Interim Dividend Rs 7/- Per Share (Purpose Revised)
2016-11-07 Interim Dividend Rs 6/- Per Share
2016-06-24 Annual General Meeting
2016-03-17 Interim Dividend - Rs 8/- Per Share
2015-06-25Annual General Meeting/ Dividend - Rs 6/- Per Share
2015-03-20Face Value Split (Sub-Division) - From Rs 5/- Per Share To Rs 2/- Per Share0.4000
2014-07-24Annual General Meeting / Dividend - Rs 10/- Per Share
2013-09-17Bonus 1:20.6667
2013-07-18Annual General Meeting And Dividend Rs.6.25 Per Share
2012-08-09Face Value Split From Rs. 10/- To Rs. 5/-0.5000
2012-06-28Annual General Meeting/Dividend Rs 7.50 Per Share
2011-06-23Dividend-Rs.5/- Per Share
2010-06-29Dividend-Rs.3.50 Per Share
2009-06-30Agm/Div-Rs.2.50 Per Share
2008-06-27Agm/Dividend - 25%
2007-09-19Agm/Dividend-20%
2006-09-18Agm/Div-Rs.1.50 Per Share
DateTypeWhat it says
2026-09-30General UpdatesSubmission of Sustainability Report for FY 2026
2026-08-31Concall / analyst meetAbout
2026-08-05Concall / analyst meetParticipation in Investor Conference
2026-08-03Concall / analyst meetTranscript
2026-07-30Concall / analyst meetLink of Recording
2026-07-30General UpdatesESOP Allotment
2026-07-30DividendBoard of Directors at its meeting held on July 30, 2026, declared Select Dividend of Rs. 32 per equity share.
2026-07-30Record DateRecord date for the purpose of Dividend is 05-Aug-2026.
2026-07-30Board meeting outcomeAjanta Pharma Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-21Concall / analyst meetSchedule of meet
2026-07-20Concall / analyst meetSchedule of meet
2026-07-17Shareholder meetingVoting results.
2026-07-16Shareholder meetingProceedings of Annual General Meeting held on July 16, 2026
2026-07-02General UpdatesGeneral Updates
2026-06-18Shareholder meetingNotice of Annual General Meeting to be held on July 16, 2026
2026-06-15General UpdatesShareholders Meeting- 47th Annual General Meeting on 16/07/2026
2026-06-12Concall / analyst meetParticipation in Investor Conference
2026-05-19Concall / analyst meet(Revised) Participation in Investor Conference
2026-05-19Concall / analyst meetParticipation in Investor Conference
2026-05-08Concall / analyst meetTranscript
2026-05-05Concall / analyst meetLink of Recording
2026-05-05General UpdatesGeneral Updates
2026-05-05General UpdatesGeneral Updates
2026-05-05Board meeting outcomeAjanta Pharma Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-22General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Ajanta Pharma Ltd?

Ajanta Pharma Ltd (AJANTPHARM) has a market capitalisation of Rs 44,454 Cr. at the 2026-10-01 close.

What is the P/E ratio of Ajanta Pharma Ltd?

Ajanta Pharma Ltd trades at a P/E of 39.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Ajanta Pharma Ltd's latest quarterly results?

In the Jun 2026 quarter, Ajanta Pharma Ltd sales was Rs 1,626 Cr (+24.8% vs Jun 2025) and net profit was Rs 334 Cr.

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

The 52-week high is Rs 3,796.00 and the 52-week low is Rs 2,329.90.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03