Ajanta Pharma Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Revenues grew 18% YoY to | 516 crore (I-direct estimate: | 513 crore) on back of 21% growth in domestic sales to | 158 crore (Idirect estimate: | 155 crore). Export formulation grew 14% to | 345 crore (I-direct estimate: | 339 crore) on a sharp jump in US sales. US sales rose to | 71 crore vs. | 2 crore, | 10 crore in Q2FY16, Q1FY17, respectively. Asia, Africa sales, on the other hand, were muted EBITDA margins declined 157 bps to 33.6% (I-direct estimates: 34.0%) mainly due to forex loss of | 9.84 crore...

Revenues grew 20.4% YoY to | 471 crore (I-direct estimate: | 455 crore) on the back of 18.6% growth in exports to | 287 crore (I-direct estimate: | 292 crore). Domestic sales grew 9.5% to | 162 crore (Idirect estimate: | 149 crore) .EBITDA margins increased 406 bps YoY to 35.4% (I-direct estimates: 32.0%) on account of gross margin expansion. Gross margins increased 532 bps YoY to 78.9% ((I-direct estimates: 75.5%). EBITDA increased 36.0% YoY to | 166.6 crore .Net profit increased 33.5% YoY to | 120 crore, (I-direct estimate: | 101 crore) on the back of a robust operational performance. ICICI Securities Limited maintain target of | 1780 based on 28x FY18E EPS of | 63.5. At the current level, the stock has already factored in the near term upside.

Trendlyne has 6 reports on AJANTPHARM updated in the last year from 2 brokers with an average target of Rs 1712. Brokers have a rating for AJANTPHARM with 1 downgrade in past 6 months and 1 price downgrades,1 price upgrade in past 1 Year.

Established in 1973, Ajanta Pharma (APL) is a specialty pharmaceutical company engaged in development, manufacture and marketing of quality finished dosages in domestic and international markets. The company has 5 state-of-the art manufacturing facilities. Ajanta has extensive presence in many countries in Asia, Africa and Latin America employing over 4,000 people worldwide and its products sold in over 50 countries. The company has also started commercial operations in the US market in the first quarter of 2013 which it plans to scale up in the coming couple of years. APL has improved its ranking in the Indian Pharmaceutical Market to 36 at the end of FY15 from 45 in FY13. With APL focusing on new...