Ajanta Pharma Ltd. News and Updates

Name: Latest research reports of Ajanta Pharma Ltd. authored by BOB Capital Markets Ltd. and published by - Trendlyne research reports.
Item: Ajanta Pharma Ltd.
Rating: 5
Author: BOB Capital Markets Ltd.

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Ajanta Pharma Ltd.

20 May 2020

2617.75

0.01%

Ajanta Pharma (BUY): Near-term growth concerns but demand outlook intact

Buy: Ajanta Pharma Ltd.

BOB Capital Markets Ltd.

Ajanta Pharma (AJP) posted strong Q4 revenue/EBITDA growth of 32%/31% YoY to Rs 6.8bn/Rs 1.7bn.

Ajanta Pharma Ltd. is trading below its 50 day SMA of 2645.8

Ajanta Pharma Ltd.

20 May 2020

2617.75

0.01%

Earnings growth led by US/Asia and better operating leverage

Buy: Ajanta Pharma Ltd.

Target

Motilal Oswal

20 May 2020 Ajanta Pharma (AJP) ended FY20 on a healthy note with 15% earnings growth (v/s 12% compounded earnings decline over FY17-19), led by sales revival in Asia, Africa and new introductions in the US market. The companys major capex program would conclude in FY21 and only maintenance capex would be required FY22E onwards, indicating better free cash flow situation for AJP. We reduce our EPS estimate for FY21 by 6% to factor in the COVID-19 led slowdown in the branded generics segment. INR6.3b) grew 32% YoY, led by exports (+43%YoY; 74% of sales). Within exports, US generic sales were up 88% YoY (INR1.4b) and emerging markets sales grew 38% YoY (INR3b). Domestic formulation sales grew 11% YoY to INR1.8b (~26% of sales). Gross Margin (GM) came in at 74% and contracted 550bp YoY due to change in the product mix. AJP had forex loss of INR150m in other expenses. Adjusting for the same, EBITDA margin at 24.

Ajanta Pharma Ltd. is trading below its 50 day SMA of 2645.8

Ajanta Pharma Ltd.

20 Apr 2020

2617.75

0.01%

Ajanta Pharmaceuticals

Buy: Ajanta Pharma Ltd.

Target

ICICI Securities Limited

On the business front, despite the nationwide lockdown, domestic growth is expected to remain more or less stable. Exports growth, barring for one or two months due to congestion in all major ports globally, is also expected to remain strong due to 1) currency benefit, 2) slowdown in competition due to delay in new approvals that will be beneficial for existing players and 3) expected demand continuum across the world despite Covid-19. Some windfall is also expected in some critical productsa case in point is Hydroxychloroquine, a malaria drug that is likely to be repurposed as a prophylaxis for Covid-19 treatment in some cases....

Number of FII/FPI investors increased from 346 to 373 in Dec 2024 qtr.

Ajanta Pharma Ltd.

09 Apr 2020

2617.75

0.01%

Ajanta Pharma share price jumps 8% on US FDA nod for cholesterol drug

Moneycontrol

Ajanta Pharma received US FDA nod for Cholestyramine Powder. It is used to lower high levels of cholesterol in blood.

Ajanta Pharma Ltd. has an average target of 2987.67 from 3 brokers.

Ajanta Pharma Ltd.

27 Feb 2020

2617.75

0.01%

Earnings back on track after bottoming out in FY19

Buy: Ajanta Pharma Ltd.

Target

Motilal Oswal

With stability in industry cash cycle, AJP has enhanced its business scope in the branded markets of Asia and Africa. For branded generics business (67% of sales), AJP has guided for 9- 11% YoY growth for the next three years. Covered market growth in Dermatology for the past five years was 16%, while AJP grew at 8% due to a high base of Melacare range of products and higher attrition in MRs. Going forward, covered market growth is expected to be 9- 10%. Compared to its subdued growth in the past, AJP expects to do better (11- 12%) as (a) MR team being stabilized for this segment, (b) renewed interest in Melacare range of products and (c) new launches lined up in this segment. Considering covered market growth expectation at 7-8%, AJP intends to do better than industry at 10-11% in Cardiology.

Ajanta Pharma Ltd. is trading below its 50 day SMA of 2645.8

Ajanta Pharma Ltd.

24 Feb 2020

2617.75

0.01%

Buoyed by US revenues, higher growth trajectory awaits Ajanta Pharma

Business Standard

Completion of capex, improving prospects among positives

Ajanta Pharma Ltd. is trading above its 30 day SMA of 2610.1

Ajanta Pharma Ltd.

06 Feb 2020

2617.75

0.01%

Ajanta Pharma surges 11% on strong Q3 performance, profit jumps 61% YoY

Business Standard

Revenue from operation stood at Rs 651 crore, up 34 per cent YoY while EBITDA grew 73 per cent YoY to Rs 186 crore.

Number of FII/FPI investors increased from 346 to 373 in Dec 2024 qtr.

Ajanta Pharma Ltd.

06 Feb 2020

2617.75

0.01%

Ajanta Pharmaceuticals

Buy: Ajanta Pharma Ltd.

Target

ICICI Securities Limited

Domestic formulations comprise 33% of FY19 revenues. The main distinguishing factor is the uncanny knack of launching maximum number of first time launches with focus on new drug delivery system (NDDS). Out of 270+ actively marketed brands, ~60% were first time launches. However, a slowdown in dermatology segment due to increased competition in existing products and slow offtake in new launches are some near term challenges. We expect domestic formulations to grow at ~12% CAGR in...