Ajanta Pharma Limited (AJANTPHARM)

Healthcare · Pharmaceuticals & Biotechnology · NSE · Updated 30 July 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹3,396.5 ↑ 21.28% (1Y)

🎯 Key Takeaways

Ajanta Pharma is in a stable growth phase, characterized by consistent profitability, strong returns on capital, and low leverage, supported by steady revenue expansion and disciplined financial management. Management continues to prioritize operational efficiency and shareholder returns, as evidenced by recurring approvals of dividends and auditor tenures at the AGM.
Revenue grew 3.4% QoQ to ₹1,422 in Q4FY26.
⚠️ 1) Margin pressure in Q4 FY26 warrants monitoring of input cost trends and pricing power. 2) Low but rising debt levels could become a concern if capi

Market Cap

₹39,695

P/E Ratio

37.6

P/B Ratio

8.77

ROE

23.3%

ROCE

29.4%

Debt/Equity

0.05

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Ajanta Pharma is in a stable growth phase, characterized by consistent profitability, strong returns on capital, and low leverage, supported by steady revenue expansion and disciplined financial management. Management continues to prioritize operational efficiency and shareholder returns, as evidenced by recurring approvals of dividends and auditor tenures at the AGM.

📰 What's Happening

In the most recent filings, Ajanta Pharma scheduled its Q1 FY2027 earnings call for July 30, 2026, to discuss unaudited results, continuing its quarterly disclosure rhythm. The 47th AGM approved the FY2025-26 consolidated financial statements and reappointed Chairman Mannalal Agrawal, reinforcing governance continuity. Additionally, the company reaffirmed auditor appointments for FY2026-27, signaling stability in internal controls and audit processes. These events reflect routine but critical governance and reporting cycles, with no major strategic shifts announced.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q1FY25	Q2FY25	Q3FY25	Q4FY25	Q1FY26	Q2FY26	Q3FY26	Q4FY26
Revenue	1,145	1,187	1,146	1,170	1,303	1,354	1,375	1,422
Operating Profit	357	331	351	315	378	387	407	395
OPM %	28.9%	26.2%	28.0%	25.4%	27.0%	24.2%	27.8%	23.4%
Net Profit	246	216	233	225	255	260	274	267
EPS	₹19.54	₹17.27	₹18.60	₹18.00	₹20.44	₹20.83	₹21.91	₹21.35

Revenue has grown steadily from ₹1,145 crore in Q1 FY25 to ₹1,422 crore in Q4 FY26, indicating consistent top-line expansion. Operating margins have remained robust, averaging around 25-28%, though there was a slight dip in Q4 FY26 to 23.4% from a peak of 28% in Q1 FY26, potentially reflecting higher input costs or pricing pressures. Net profit and EPS have followed an upward trend, rising from ₹225 crore to ₹267 crore in net profit and from ₹18 to ₹21.35 in EPS over the same period, suggesting effective cost management despite margin fluctuations.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance in the latest filings beyond the scheduled earnings call and AGM outcomes. However, the repeated emphasis on timely disclosures, auditor continuity, and shareholder engagement suggests a focus on transparency and operational stability. No new product launches, capacity expansions, or market guidance were disclosed in the recent regulatory releases.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	2024-2025	2025-2026	2025-2026	2025-2026	2025-2026
Equity Capital	25	25	25	25	25
Reserves	3,765	—	4,290	—	4,502
Borrowings	3	—	202	—	212
Total Liabilities	1,225	—	1,357	—	1,628
Fixed Assets	1,625	—	1,740	—	1,726
Investments	464	—	874	—	588
Total Assets	5,015	—	5,672	—	6,155

The balance sheet shows a strong equity base of ₹25 crore with reserves growing to ₹4,502 crore, indicating long-term capital accumulation. Borrowings remain minimal at ₹212 crore, reflecting a conservative capital structure. Total assets have increased to ₹6,155 crore, suggesting ongoing investment in operations or assets, though the exact allocation (capex, working capital, etc.) is not detailed in the filings.

💰 Cash Flow Statement (₹ Cr)

Item	2020-2021	2020-2021
Operating	+313	+576
Investing	-275	-282
Financing	-55	-318
Net Cash Flow	—	—

⚖️ Peer Comparison — Pharmaceuticals & Biotechnology

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Sun Pharmaceutical Industries Limited	4.51 L Cr	41.3	20.3%	15.1%	0.03
Divi's Laboratories Limited	1.79 L Cr	72.4	22.1%	16.6%	0.00
Torrent Pharmaceuticals Limited	1.49 L Cr	80.1	—	—	—
Cipla Limited	1.16 L Cr	25.4	19.4%	14.6%	0.00
Dr. Reddy's Laboratories Limited	1.12 L Cr	20.0	19.7%	16.6%	0.12
Lupin Limited	1.04 L Cr	36.2	—	—	—
Mankind Pharma Limited	1.03 L Cr	49.2	—	—	—
Zydus Lifesciences Limited	1.02 L Cr	22.5	—	—	—
Aurobindo Pharma Limited	87,806	25.3	—	—	—
Laurus Labs Limited	71,455	356.8	—	—	—

🔗 Peer Stock Analyses

SUNPHARMA DIVISLAB TORNTPHARM CIPLA DRREDDY

⚠️ Risk Factors

1) Margin pressure in Q4 FY26 warrants monitoring of input cost trends and pricing power. 2) Low but rising debt levels could become a concern if capital intensity increases. 3) Regulatory scrutiny on insider trading and disclosure timelines introduces compliance risk. 4) Heavy reliance on the Indian domestic market, with no mention of global expansion, exposes it to local economic or policy shifts.

📋 Recent Filings

🧠 Analyst's Read

Ajanta Pharma maintains a stable and well-governed profile with consistent financial performance, but lacks clear catalysts for rapid growth. Investors should monitor margin trends and capital allocation decisions in upcoming quarters to assess sustainability amid rising competition and cost volatility.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-30.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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