āagman

Not investment advice. Data and computed figures, for information only.

Ajanta Pharma Ltd

NSE: AJANTPHARM
₹3,359.40
+₹60.40 (+1.83%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹42,612 Cr
CMP
₹3,359.40
52-wk High / Low
₹3,796 / 2,382
P/E
37.6
P/B
9.4
Book Value
₹362.0
Div Yield
0.94%
ROCE
35.0%
ROE
27.1%
Face Value
₹2
D/E
0.06

Price+38.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹830
√(22.5 × EPS × book value per share)
ROIC
21.2%
vs 11.2% sector median
Cash flow to profit
0.50
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−86
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
17.5%
ROE × earnings retention ratio
ROE stability
2.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −2.76FII −0.58DII +3.44
Latest quarter vs the previous one
Cash-accrual divergence
9.6%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 23% vs the 2023 sector median of 17.5%)
+Price trades above its 200-day moving average (1.1x)
+PE of 37.6x is below the sector median of 45.9x
Watch-outs
−Borrowings are up 221.0% since FY2016 (81 to 260)
−Promoter holding fell by 2.6pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,0211,0281,1051,0541,1451,1871,1461,1701,3031,3541,3751,4221,626
Expenses7507387917768158758258739511,0269931,0881,202
Operating Profit271291314278330311321297351328382333424
OPM %26.5%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 Income32211436261930182659256171
Interest1222168653523
Depreciation33343434343436404143444544
Profit before tax269276291278322290307269331341359347447
Net Profit208195210203246216233225255260274267334
EPS (₹)16.2415.2416.3915.8219.6817.3318.6418.0320.4420.8321.9121.3526.75

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,4741,7491,9832,1262,0552,5882,8903,3413,7434,2094,6485,4535,776
Expenses9681,1551,2921,4671,4891,9041,8892,4082,9343,0373,3793,9534,309
Operating Profit5055946916585676831,0019338081,1721,2691,5001,467
OPM %34.3%34.0%34.8%31.0%27.6%26.4%34.6%27.9%21.6%27.8%27.3%27.5%25.4%
Other Income814202421882411274858567217
Interest651011281067211614
Depreciation524461607296116125131135144173176
Profit before tax4565596486235146649009097451,1141,1891,3781,493
Net Profit3104165074693874686547135888169201,0561,135
EPS (₹)23.4731.4938.4035.5029.5635.7350.3855.6345.8963.7073.6884.5290.84

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2122793266092813754575765627927851,157529
Cash from Investing Activity−188−158−209−383−256−223−224−282−74−56065−377−429
Cash from Financing Activity−20−105−117−2020−147−129−318−460−108−1,051−733−168
Net Cash Flow416024254104−2428124−20147−68

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %55.057.052.046.034.024.027.032.029.023.032.032.035.0
ROE %————————————27.1
EPS (₹)17.7523.4731.4938.4035.5029.5635.7350.3855.6345.8963.7073.6884.52
Book Value (₹)————————————362.0
Face Value (₹)————————————2
P/E————————————37.6
Div Yield %————————————0.94
NPM %19.420.923.625.321.818.617.522.420.615.419.019.419.1
OPM %31.034.034.035.031.028.026.035.028.022.028.027.028.0
D/E0.220.090.070.000.000.020.030.010.010.010.010.010.06
P/B————————————9.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+12.0%
5 years+14.0%
3 years+13.0%
TTM+20.0%
Compounded profit growth
10 years+10.0%
5 years+12.0%
3 years+24.0%
TTM+22.0%
Stock price CAGR
10 years+10.0%
5 years+18.0%
3 years+24.0%
Last year+40.0%
Return on equity
10 years23.0%
5 years23.0%
3 years25.0%
Last year27.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.78%73.78%70.70%70.52%70.51%70.34%70.48%66.11%66.22%66.26%66.25%63.49%
FIIs10.93%10.93%12.17%9.78%8.91%8.37%8.64%10.00%8.54%8.86%8.26%7.68%
DIIs2.14%2.14%6.54%9.52%10.63%11.86%12.29%15.52%17.48%17.48%18.36%21.80%
Government0.00%0.00%0.27%0.44%0.74%0.76%0.45%0.45%0.00%0.01%0.01%0.00%
Public13.15%13.15%10.32%9.74%9.21%8.67%8.14%7.91%7.76%7.38%7.14%7.03%
No. of shareholders38,06938,06935,39439,91239,18844,88160,75983,54955,48870,82767,95565,296
Change since Jun 2023 (pp)
Promoters −10.29FIIs −3.25DIIs +19.66Public −6.12

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011Submission Of Sustainability Report For FY 2026Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingJul 2025TranscriptJul 2025PPT

Corporate actions

As of 5 Aug 2026
5 Aug 2026DIVIDENDInterim Dividend - Rs 32 Per Share—
10 Nov 2025DIVIDENDInterim Dividend - Rs 28 Per Share—
6 Nov 2024DIVIDENDInterim Dividend - Rs 28 Per Share—
8 Feb 2024DIVIDENDInterim Dividend - Rs 26 Per Share—
4 Aug 2023DIVIDENDInterim Dividend - Rs 10 Per Share/Special Dividend - Rs 15 Per Share—
11 Nov 2022DIVIDENDInterim Dividend - Rs 7 Per Share—
22 Jun 2022BONUSBonus- 1:2—
9 Nov 2021DIVIDEND Interim Dividend - Rs 9.50 Per Share—
12 Nov 2020DIVIDEND Interim Dividend - Rs 9.50 Per Share—
15 Nov 2019DIVIDEND Interim Dividend - Rs 13 Per Share—
9 Nov 2018DIVIDEND Interim Dividend - Rs 9 Per Sh—
23 Mar 2017DIVIDEND Interim Dividend Rs 7/- Per Share (Purpose Revised)—
7 Nov 2016DIVIDEND Interim Dividend Rs 6/- Per Share—
17 Mar 2016DIVIDEND Interim Dividend - Rs 8/- Per Share—
25 Jun 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 6/- Per Share—
20 Mar 2015SPLITFace Value Split (Sub-Division) - From Rs 5/- Per Share To Rs 2/- Per Share5 : 2
24 Jul 2014DIVIDENDAnnual General Meeting / Dividend - Rs 10/- Per Share—
17 Sep 2013BONUSBonus 1:2—
18 Jul 2013DIVIDENDAnnual General Meeting And Dividend Rs.6.25 Per Share—
9 Aug 2012SPLITFace Value Split From Rs. 10/- To Rs. 5/-10 : 5
28 Jun 2012DIVIDENDAnnual General Meeting/Dividend Rs 7.50 Per Share—
23 Jun 2011DIVIDENDDividend-Rs.5/- Per Share—
29 Jun 2010DIVIDENDDividend-Rs.3.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman