AJANTPHARMHealthcare

Ajanta Pharma Limited

Pharmaceuticals · ISIN INE031B01049 · BSE 532331 · NSE EQ · FV ₹2
Last price
₹3,317
-0.09%today
What this company does

Ajanta Pharma Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹1,794 cr of revenue in its latest quarter (Q2 FY27) and kept 21.6% of sales as profit.

In the report:
72out of 100
Equitytale Health Score
Solid

Healthier than 72% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 37–153 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns93

How much profit it earns on the money it employs

Balance sheet84

How much it owes, and whether earnings cover the interest

Cash quality56

Whether reported profit actually arrives as cash

Growth & consistency71

Whether sales and profit have grown, and how steadily

Valuation47

What today's price implies, against our models or its peers

Governance & risk57

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 22% net margin
✓ Sales up 33% vs last year
✓ Profit up 49% vs last year
✓ Promoters hold 63%
✓ Strong 32% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
! 20.7% of promoter stake pledged

What if I invest in AJANTPHARM?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹3,317▼ -0.09%
latest close · 2026-11-04
1-year return
+119.1%
52-wk low ₹1,06252-wk high ₹3,796
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio26.7Average
LowAverageHigh
P/B ratio8.56High
Below bookModerateHigh
EV / EBITDA17.8High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity32.0%Strong
WeakFairStrong ▸15%
Return on capital42.3%Strong
WeakFairStrong
Net margin21.6%Strong
ThinDecentStrong
EBITDA margin32.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.02Comfortable
LowModerateHigh ▸1
Interest cover239.9×Strong
RiskyOkayStrong ▸5×
Current ratio2.85Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹41,575 cr
Book value
₹388
EPS
₹31.07
latest quarter
Net debt
₹14 cr
owes more than its cash
Enterprise value
₹41,589 cr
EBITDA
₹2,340 cr
annualised
EBIT
₹2,150 cr
annualised
Operating margin
30.0%
Return on assets
24.2%
Earnings yield
3.75%
P/S
5.79
Sales / share
₹572.5
Tax rate
27.5%
Face value
₹2
Shares
12.5 cr
Working capital
₹2,480 cr
Current assets
₹3,823 cr
Current liabilities
₹1,343 cr
Delivery %
52.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹454–₹945, midpoint ₹689

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,794 cr
Other Income₹37 cr
Total Income₹1,832 cr
Cost of Materials₹349 cr
Purchases of Stock-in-Trade₹81 cr
Inventory Change (±)₹-45 cr
Employee Benefit Expense₹384 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹48 cr
Other Expenses₹478 cr
Total Expenses₹1,296 cr
Profit before Tax₹535 cr
Tax Expense₹147 cr
Net Profit₹388 cr
Net margin on total income21.2%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹385 cr21.0%
Employee benefit expense₹384 cr20.9%
Finance costs₹2 cr0.1%
Depreciation & amortisation₹48 cr2.6%
Other expenses₹478 cr26.1%
Tax expense₹147 cr8.0%
Profit for the period₹388 cr21.2%
Total income ₹1,832 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,422 cr1,626 cr1,794 cr
Total income1,483 cr1,697 cr1,832 cr
Expenses1,136 cr1,250 cr1,296 cr
Profit before tax347 cr447 cr535 cr
Tax80 cr113 cr147 cr
Net profit (owners' share)267 cr330 cr388 cr
Net margin (owners' share, on revenue)18.8%20.3%21.6%
EPS (₹)21.3526.7531.07
YoY (latest quarter): total income +29.6% · net profit +49.2%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹6,425 cr
Shareholder equity
₹4,858 cr
parent shareholders
Total debt
₹104 cr
Cash
₹90 cr
Cash flow · H1 FY27
Operating
₹750 cr
Investing
₹-249 cr
Financing
₹-515 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,770₹4.25 L cr53.3
Divi's Laboratories Limited₹10,064₹2.67 L cr74.1
Torrent Pharmaceuticals Limited₹4,650₹1.77 L cr82.7
Laurus Labs Limited₹2,323₹1.26 L cr71.1
Zydus Lifesciences Limited₹1,241₹1.24 L cr33.2
Dr. Reddy's Laboratories Limited₹1,368₹1.14 L cr30.8
Cipla Limited₹1,397₹1.13 L cr32.2
Mankind Pharma Limited₹2,475₹1.02 L cr35.9
Aurobindo Pharma Limited₹1,695₹97,502 cr23.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.81%
trailing 12 months
Dividend / share (TTM)
₹60
Last dividend
₹32
ex 5 Aug 2026
ActionDetailEx-date
Dividend₹32 / share5 Aug 2026
Dividend₹28 / share10 Nov 2025
Dividend₹28 / share6 Nov 2024
BuybackBuy Back of Shares30 May 2024
Dividend₹26 / share8 Feb 2024
Dividend₹15 / share4 Aug 2023
Who owns it · 2026-09-30
⚑ 20.6% pledged
Promoter
63.5%
FII / Foreign
7.6%
DII / Domestic
21.9%
Retail / others
7.0%
Promoter stake down 2.7% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSHAILESH R SINGH · Other607 · ₹18.8 L12 Mar 26
SoldSHAILESH R SINGH · Other750 · ₹20.3 L26 Dec 25
SoldSHAILESH R SINGH · Other2,000 · ₹51.3 L12 Nov 25
Bulk / block deals
short— · NSE13 Sep 26
short— · NSE10030 Jul 26
short— · NSE1024 Jul 26
Stake changes
BoughtCTL Trusteeship Limited acting as Common Security Trustee for the benefit of the debenture trustee(s) of the Debentures and the respective Debenture holders→ 7.41% · 26.21 L28 Sep 26
BoughtCTL Trusteeship Limited acting as Common Security Trustee for the benefit of the debenture trustee(s) of the Debentures and the respective Debenture holders→ 5.31% · 66.33 L30 Jun 26
BoughtCTL Trusteeship Limited acting as Common Security Trustee for the benefit of the debenture trustee(s) of the Debentures and the respective Debenture holders.→ 13.53% · 1.69 cr30 Jun 26
Promoter pledges
PledgedCTL Trusteeship Ltd30,000 · 9.69% held15 Oct 26
PledgedCTL Trusteeship Limited4.60 L · 9.32% held28 Sep 26
ReleasedAditya Birla Capital Ltd18,518 · 9.35% held22 Sep 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 17 Jul 2025
See the official result
1
1 - To receive, consider and adopt: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 2025 together with the Reports of the Board of Directors and the Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the Financial year ended 31 March 2025 together with the Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.88 cr votes for, 48,395 against · 0% of mutual funds and other big investors said no
2
2 - RESOLVED THAT the interim dividend of Rs. 28 per equity share on the face value of Rs. 2/- each fully paid up, declared by the Board of Directors of the Company for the FY 2025 and already paid, be and is hereby confirmed and ratified.
Backed by 100% of shareholders other than promotersneeded 50%
2.89 cr votes for, 45 against · 0% of mutual funds and other big investors said no
3
3 - To appoint a Director in place of Mr. Rajesh Mannalal Agrawal (DIN: 00302467),who retires by rotation and being eligible, offers himself for re-appointment
Backed by 96% of shareholders other than promotersneeded 50%
2.78 cr votes for, 10.74 L against · 4% of mutual funds and other big investors said no
4
4- RESOLVED THAT Mr. Madhusudan B. Agrawal (DIN: 00073872) be re-appointed as the Executive Director and Vice-Chairman of the Company for a period of 5 years effective from 1st April 2025.
Promoters had a personal stake in this
Backed by 91% of shareholders other than promotersneeded 75%
2.63 cr votes for, 26.46 L against · 9% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 9 named members
owning 63.5% between them · as of 2026-09-30
Rajesh M Agrawal, trustee Rajesh Agrawal Trust14.47%
Yogesh M Agrawal, trustee Yogesh Agrawal Trust14.47%
Aayush M Agrawal, trustee Aayush Agrawal Trust11.29%
Ravi P Agrawal, trustee Ravi Agrawal Trust10.24%
Gabs Investments Pvt Ltd10.07%
Ganga Exports being represented by Yogesh Agrawal, Rajesh Agrawal & Ravi Agrawal2.68%
Ravi P Agrawal0.23%
Aayush M Agrawal0.02%
Business done with them
FY2026 · 1 of the group
The company paid ₹8 L to companies in the promoter group last year — about 0.0% of its ₹5,453 cr revenue.
Mannalal B. Agrawal
Other payments to them · Commission and Sitting Fees to Non-Executive Director
₹8 L
company paid

The company also transacted with 22 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.