NSE: AJANTPHARM | BSE: 532331 | INDUSTRY : PHARMACEUTICALS | SECTOR : PHARMACEUTICALS & BIOTECHNOLOGY

Ajanta Pharma Ltd.

Expensive Star

1605.95 -21.85 (-1.34%)

77.77% Gain from 52W Low

Volume: 184.4K

NSEOct 23, 2020 03:31 PM

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Durability score
75/100
High Financial Strength
Valuation score
17.2/100
Expensive Valuation
Momentum score
66.8/100
Technically Moderately Bullish
10S
3W
6O
2T


Ajanta Pharma Ltd.    
21 Sep 2020
1605.95
-1.34%
buy
by BOB Capital Markets Ltd.
Target: 1900 | Upside : 18.3%
BOB Capital Markets Ltd.
We hosted investor meetings with the management of Ajanta Pharma (AJP).
Ajanta Pharma Ltd. has gained 20.93% in the last 6 Months
Ajanta Pharma Ltd.    
31 Jul 2020
1605.95
-1.34%
buy
by ICICI Securities Limited
Target: 1810 | Upside : 12.7%
ICICI Securities Limited
Domestic formulations - Focus on new launches, few therapies Domestic formulations comprise 30% of FY20 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 ~11% CAGR in...
Ajanta Pharma Ltd. has an average target of 1841.67 from 4 brokers.
Ajanta Pharma Ltd.    
31 Jul 2020
1605.95
-1.34%
buy
by Motilal Oswal
Target: 1815 | Upside : 13.0%
Motilal Oswal
EBITDA margin expanded at higher rate of 590bp YoY with superior product mix and controlled opex. We remain positive on AJP on its new launches, rising share in key markets of the US/India/Asia/Africa and improved operating leverage. Re-iterate In the branded formulation segment, AJP witnessed 15% YoY decline in India, while it delivered 27.8%/17.4% YoY growth in Asia/Africa in 1QFY21. AJP has strong pipeline of registration in both Asia/Africa branded segment. We expect Africa branded segment to deliver better 12% CAGR over FY20-22E to INR4.3b owing to increased offerings and better reach. AJPs US sales grew 46% YoY due to increased traction in existing With 19 ANDAs pending approval, the company has an intention to file 10-12 ANDAs annually. Considering 6-7 launches in FY21, we expect AJP to garner 20% CAGR in US sales over FY20-22E to INR7.3b in this segment.
Ajanta Pharma Ltd. has an average target of 1841.67 from 4 brokers.
Ajanta Pharma Ltd.    
30 Jul 2020
1605.95
-1.34%
buy
by BOB Capital Markets Ltd.
Target: 1730 | Target met
BOB Capital Markets Ltd.
Ajanta Pharma (AJP) posted Q1 revenue/EBITDA growth of 9%/33% YoY to Rs 6.7bn/Rs 2.2bn.
Ajanta Pharma Ltd. has gained 59.64% in the last 1 Year
Ajanta Pharma Ltd.    
22 May 2020
1605.95
-1.34%
buy
by ICICI Securities Limited
Target: 1730 | Target met
ICICI Securities Limited
Domestic formulations: Focus on new launches, few therapies Domestic formulations comprise 30% of FY20 revenues. 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 higher 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...
Ajanta Pharma Ltd. has gained 20.93% in the last 6 Months
Ajanta Pharma Ltd.    
20 May 2020
1605.95
-1.34%
buy
by BOB Capital Markets Ltd.
Target: 1650 | Target met
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. has an average target of 1841.67 from 4 brokers.
Ajanta Pharma Ltd.    
20 May 2020
1605.95
-1.34%
buy
by Motilal Oswal
Target: 1700 | Target met
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. has gained 20.93% in the last 6 Months
Ajanta Pharma Ltd.    
20 Apr 2020
1605.95
-1.34%
buy
by ICICI Securities Limited
Target: 1700 | Target met
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....
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Ajanta Pharma Ltd. is trading above all available SMAs
Ajanta Pharma Ltd.    
27 Feb 2020
1605.95
-1.34%
buy
by Motilal Oswal
Target: 1655 | Target met
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.
Number of FIIs/FPIs holding stock fell by 9 to 185 in Sep 2020 qtr.
Ajanta Pharma Ltd.    
06 Feb 2020
1605.95
-1.34%
buy
by ICICI Securities Limited
Target: 1525 | Target met
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...
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Ajanta Pharma Ltd. is trading above all available SMAs