Ajanta Pharmaceuticals Ltd.

AJANTPHARMHealthcare filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

23 transcript(s)/analyst meet(s) served; 22 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 23 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
COVER_LETTER	20210504	2021-03-31	no
COVER_LETTER	20210722	2021-06-30	no
COVER_LETTER	20210802	2021-06-30	no
COVER_LETTER	20211108	2021-09-30	no
COVER_LETTER	20220204	2021-12-31	no
COVER_LETTER	20220514	2022-03-31	no
TRANSCRIPT	20220803	2022-06-30	yes
COVER_LETTER	20221110	2022-09-30	no
COVER_LETTER	20230213	2022-12-31	no
COVER_LETTER	20230511	2023-03-31	no
COVER_LETTER	20230802	2023-06-30	no
COVER_LETTER	20231103	2023-09-30	no
COVER_LETTER	20240205	2023-12-31	no
COVER_LETTER	20240508	2024-03-31	no
COVER_LETTER	20240802	2024-06-30	no
COVER_LETTER	20241030	2024-09-30	no
COVER_LETTER	20250203	2024-12-31	no
COVER_LETTER	20250505	2025-03-31	no
COVER_LETTER	20250731	2025-06-30	no
COVER_LETTER	20251106	2025-09-30	no
COVER_LETTER	20260205	2025-12-31	no
COVER_LETTER	20260508	2026-03-31	no
COVER_LETTER	20260803	2026-06-30	no

AJANTPHARM

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	general
Scope served	consolidated
Panels on this page	4

Market

The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.


Last close	3,539.50
52-week range	2388.4 – 3718.2
Return 1M	-0.43%
Return 3M	11.29%
Return 1Y	39.83%
Return 3Y	110.52%
Return 5Y	144.13%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	1,626.00
Other income	71.00
Total income	1,697.00
Cost of materials consumed	297.00
Purchases of stock-in-trade	67.00
Changes in inventories	-36.00
Employee benefit expense	381.00
Finance costs	3.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.63	-0.03
institutions foreign	0.08	-0.01
institutions domestic	0.22	0.03
mutual funds	0.18	0.03
public	0.37	0.03

Documents on file

Class	Most recent	On file
COVER_LETTER	2026-06-30	22
TRANSCRIPT	2022-06-30	1

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2022-09-30	2022-12-31	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	938.00	972.00	882.00	1,021.00	1,028.00	1,105.00	1,054.00	1,145.00	1,187.00	1,146.00	1,170.00	1,303.00	1,354.00	1,375.00	1,422.00	1,626.00
Other income	40.00	35.00	37.00	32.00	21.00	14.00	36.00	26.00	19.00	30.00	18.00	26.00	59.00	25.00	61.00	71.00
Total income	978.00	1,007.00	919.00	1,053.00	1,050.00	1,119.00	1,090.00	1,171.00	1,206.00	1,177.00	1,189.00	1,329.00	1,413.00	1,400.00	1,483.00	1,697.00
Cost of materials consumed	205.00	246.00	232.00	218.00	224.00	239.00	259.00	238.00	207.00	210.00	191.00	207.00	218.00	235.00	257.00	297.00
Purchases of stock-in-trade	41.00	40.00	29.00	40.00	47.00	39.00	40.00	45.00	46.00	79.00	80.00	52.00	53.00	54.00	71.00	67.00
Changes in inventories	14.00	-16.00	-20.00	-6.00	-14.00	16.00	-35.00	-16.00	9.00	-31.00	12.00	17.00	46.00	-2.00	-23.00	-36.00
Employee benefit expense	186.00	192.00	224.00	213.00	222.00	231.00	234.00	284.00	261.00	265.00	280.00	303.00	317.00	331.00	341.00	381.00
Finance costs	1.00	3.00	1.00	1.00	2.00	2.00	2.00	1.00	6.00	8.00	6.00	5.00	3.00	5.00	2.00	3.00
Depreciation and amortisation	33.00	33.00	33.00	33.00	34.00	34.00	34.00	34.00	34.00	36.00	40.00	41.00	43.00	44.00	45.00	44.00
Other expenses	296.00	340.00	268.00	285.00	259.00	266.00	278.00	263.00	353.00	302.00	310.00	373.00	392.00	376.00	443.00	493.00
Total expenses	775.00	838.00	767.00	784.00	774.00	828.00	812.00	849.00	916.00	869.00	919.00	998.00	1,072.00	1,041.00	1,136.00	1,250.00
Profit before exceptional items and tax	203.00	168.00	152.00	269.00	276.00	291.00	278.00	322.00	290.00	307.00	269.00	331.00	341.00	359.00	347.00	447.00
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	203.00	168.00	152.00	269.00	276.00	291.00	278.00	322.00	290.00	307.00	269.00	331.00	341.00	359.00	347.00	447.00
Current tax	56.00	38.00	57.00	68.00	89.00	91.00	73.00	79.00	76.00	95.00	62.00	74.00	78.00	87.00	61.00	103.00
Deferred tax	-10.00	-5.00	-27.00	-7.00	-9.00	-10.00	2.00	-3.00	-2.00	-20.00	-18.00	2.00	2.00	-2.00	19.00	10.00
Tax expense	46.00	34.00	30.00	61.00	81.00	81.00	75.00	76.00	74.00	75.00	44.00	76.00	81.00	85.00	80.00	113.00
Profit for the period	157.00	135.00	122.00	208.00	195.00	210.00	203.00	246.00	216.00	233.00	225.00	255.00	260.00	274.00	267.00	334.00
Profit attributable to owners	0.00	0.00	0.00	0.00	0.00	0.00	196.00	238.00	216.00	233.00	225.00	255.00	260.00	274.00	267.00	330.00
Profit attributable to non-controlling interests	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other comprehensive income	2.00	12.00	-5.00	-3.00	7.00	3.00	-6.00	-7.00	6.00	1.00	2.00	0.00	8.00	3.00	18.00	-4.00
Total comprehensive income	159.00	147.00	117.00	205.00	202.00	213.00	196.00	238.00	222.00	234.00	227.00	256.00	268.00	276.00	285.00	330.00
Earnings per share, basic	12.22	10.50	9.54	16.53	15.51	16.68	16.10	19.54	17.27	18.60	18.00	20.44	20.83	21.91	21.35	26.75
Earnings per share, diluted	12.22	10.50	9.54	16.53	15.50	16.67	16.09	19.53	17.26	18.59	18.00	20.43	20.82	21.91	21.34	26.72

Annual results, as filed

Line	2019-03-31	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Revenue from operations	2,055.00	2,588.00	2,890.00	3,341.00	3,743.00	4,209.00	4,648.00	5,453.00
Other income	21.00	92.00	26.00	116.00	99.00	85.00	94.00	172.00
Total income	2,076.00	2,680.00	2,916.00	3,457.00	3,841.00	4,293.00	4,743.00	5,625.00
Cost of materials consumed	392.00	560.00	706.00	779.00	878.00	939.00	847.00	917.00
Purchases of stock-in-trade	48.00	112.00	90.00	136.00	146.00	166.00	250.00	230.00
Changes in inventories	-57.00	-17.00	-151.00	-83.00	26.00	-39.00	-26.00	37.00
Employee benefit expense	431.00	486.00	548.00	646.00	785.00	900.00	1,090.00	1,291.00
Finance costs	1.00	12.00	8.00	10.00	6.00	7.00	21.00	16.00
Depreciation and amortisation	72.00	96.00	116.00	125.00	131.00	135.00	144.00	173.00
Other expenses	675.00	763.00	698.00	934.00	1,124.00	1,070.00	1,228.00	1,583.00
Total expenses	1,562.00	2,012.00	2,015.00	2,547.00	3,096.00	3,179.00	3,553.00	4,247.00
Profit before exceptional items and tax	514.00	668.00	900.00	909.00	745.00	1,114.00	1,189.00	1,378.00
Exceptional items	0.00	-4.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	514.00	664.00	900.00	909.00	745.00	1,114.00	1,189.00	1,378.00
Current tax	124.00	186.00	261.00	192.00	197.00	322.00	312.00	300.00
Deferred tax	3.00	10.00	-15.00	5.00	-40.00	-24.00	-44.00	22.00
Tax expense	127.00	196.00	246.00	197.00	157.00	298.00	269.00	322.00
Profit for the period	387.00	468.00	654.00	713.00	588.00	816.00	920.00	1,056.00
Profit attributable to owners	384.00	—	—	0.00	0.00	817.00	920.00	1,056.00
Profit attributable to non-controlling interests	0.00	—	—	0.00	0.00	0.00	0.00	0.00
Other comprehensive income	-3.00	6.00	-6.00	-8.00	15.00	1.00	2.00	29.00
Total comprehensive income	384.00	473.00	647.00	705.00	603.00	817.00	922.00	1,085.00
Earnings per share, basic	43.97	53.60	75.09	82.45	45.89	64.82	73.56	84.53
Earnings per share, diluted	43.96	53.60	75.09	82.45	45.89	64.77	73.53	84.51

Balance sheet, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Total assets	4,448.00	4,679.00	4,433.00	4,638.00	4,790.00	5,015.00	5,672.00	6,155.00
Non-current assets	1,799.00	1,845.00	1,870.00	1,907.00	1,996.00	2,172.00	2,279.00	2,419.00
Current assets	2,648.00	2,825.00	2,563.00	2,722.00	2,786.00	2,830.00	3,394.00	3,735.00
Property, plant and equipment	1,397.00	1,408.00	1,397.00	1,384.00	1,360.00	1,625.00	1,740.00	1,726.00
Capital work-in-progress	182.00	209.00	205.00	256.00	349.00	176.00	146.00	258.00
Goodwill	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other intangible assets	83.00	89.00	88.00	95.00	91.00	137.00	133.00	141.00
Inventories	749.00	816.00	786.00	828.00	846.00	904.00	812.00	939.00
Trade receivables	1,180.00	1,057.00	1,141.00	1,247.00	1,016.00	1,183.00	1,448.00	1,854.00
Cash and cash equivalents	329.00	330.00	262.00	129.00	64.00	175.00	90.00	103.00
Total equity and liabilities	4,448.00	4,679.00	4,433.00	4,638.00	4,790.00	5,015.00	5,672.00	6,155.00
Equity	3,603.00	3,388.00	3,482.00	3,567.00	3,677.00	3,790.00	4,315.00	4,527.00
Equity share capital	26.00	25.00	25.00	25.00	25.00	25.00	25.00	25.00
Other equity	3,578.00	3,363.00	3,457.00	3,542.00	3,652.00	3,765.00	4,290.00	4,502.00
Total liabilities	844.00	1,291.00	951.00	1,071.00	1,114.00	1,225.00	1,357.00	1,628.00
Non-current liabilities	140.00	152.00	152.00	175.00	577.00	229.00	198.00	212.00
Current liabilities	705.00	1,139.00	799.00	895.00	537.00	996.00	1,160.00	1,416.00
Borrowings, non-current	1.00	1.00	0.00	0.00	2.00	0.00	0.00	0.00
Borrowings, current	0.00	0.00	1.00	1.00	0.00	3.00	202.00	212.00
Trade payables	388.00	423.00	361.00	463.00	421.00	454.00	430.00	544.00

Cash flow, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Net cash from operating activities	371.00	792.00	399.00	785.00	776.00	1,157.00	284.00	529.00
Net cash from investing activities	-243.00	-560.00	246.00	65.00	-476.00	-377.00	-549.00	-429.00
Net cash from financing activities	-7.00	-108.00	-714.00	-1,051.00	-366.00	-733.00	182.00	-168.00
Purchase of property, plant and equipment	86.00	174.00	61.00	152.00	150.00	318.00	173.00	365.00
Net increase in cash	122.00	123.00	-68.00	-200.00	-66.00	46.00	-85.00	-72.00
con:CFO.BEFORE_TAX	446.00	943.00	523.00	1,097.00	924.00	1,480.00	441.00	888.00
con:INTEREST_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INTEREST_PAID.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:DIVIDENDS_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:TAX_PAID.OPERATING	75.00	151.00	124.00	312.00	148.00	323.00	157.00	359.00
con:CF_OTHER.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_PURCHASED	176.00	1,667.00	593.00	2,080.00	1,970.00	2,761.00	1,561.00	2,660.00
con:INVESTMENTS_SOLD	0.00	1,276.00	890.00	2,257.00	1,628.00	2,663.00	1,155.00	2,549.00
con:PPE_DISPOSALS	1.00	1.00	9.00	13.00	1.00	1.00	7.00	5.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_SOLD	16.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-04-19	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	66.21	66.21	66.21	66.21	66.21	66.27	66.26	66.26	66.26	66.26	0.66	0.66	0.66	0.63
Domestic institutions	16.02	15.81	15.59	16.68	17.49	17.41	17.10	17.02	17.48	17.50	0.18	0.19	0.18	0.22
Mutual funds	—	—	—	—	—	—	—	—	—	14.72	0.15	0.15	0.15	0.18
Insurance companies	1.36	1.64	2.07	2.15	2.16	2.20	1.57	1.48	1.58	2.01	0.03	0.03	0.03	0.03
Foreign institutions	10.03	10.19	9.99	9.11	8.54	8.36	9.11	9.26	8.86	8.86	0.09	0.08	0.08	0.08
Government	—	—	—	—	—	—	—	—	—	0.01	0.00	0.00	0.00	—
Public	33.79	33.79	33.79	33.79	33.79	33.73	33.74	33.74	33.74	33.74	0.34	0.34	0.34	0.37
Non-institutional	7.74	7.78	8.20	8.01	7.76	7.94	7.52	7.45	7.39	7.38	0.07	0.07	0.07	0.07
Shares outstanding	125914655	125915655	125915655	125915655	125915655	124887774	124912099	124912099	124912099	124912099	124935624	124935624	124935624	124935624

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

Counterparty	Relationship	Type	Amount in the period	Transactions
Ajanta Pharma USA Inc.	Subsidiary	Any other transaction, Investment, Sale of goods or	3,916,600,000.00	5
Ajanta Pharma Philippines Inc.	Subsidiary	Any other transaction, Dividend received, Investment	1,192,500,000.00	4
Rajesh M Agrawal, trustee Rajesh Agrawal Trust	Promoter	Any other transaction	429,100,000.00	1
Yogesh M Agrawal, trustee Yogesh Agrawal Trust	Promoter	Any other transaction	429,000,000.00	1
Ravi P Agrawal, trustee Ravi Agrawal Trust	Promoter	Any other transaction	398,100,000.00	1
Aayush M Agrawal, trustee Aayush Agrawal Trust	Promoter	Any other transaction	345,500,000.00	1
Rajesh M. Agrawal	Joint Managing Director & KMP	Any other transaction, Remuneration	314,800,000.00	3
Yogesh M. Agrawal	Managing Director & KMP	Any other transaction, Remuneration	272,000,000.00	3
Ajanta Pharma Limited Group Gratuity Trust	Company is able to exercise signif	Any other transaction	242,300,000.00	1
Madhusudan B. Agrawal	Executive Vice-Chairman	Remuneration	119,300,000.00	2
Ganga Exports being represented by Yogesh Agrawal, Rajesh Ag	Promoter	Any other transaction	86,000,000.00	1
Samta Puroshattam Agrawal Memorial Foundation	Promoter group is able to exercise	Any other transaction	60,000,000.00	1
Ajanta Pharma (Mauritius) Ltd	Subsidiary	Any other transaction, Investment, Sale of goods or	41,900,000.00	3
Mamta and Madhusudan Agrawal Memorial Foundation	Promoter group is able to exercise	Any other transaction	41,000,000.00	1
M/s. AI Packaging	Relative of Chairman	Any other transaction, Purchase of goods or services	38,600,000.00	2

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter	Who spoke
2022-08-03	Q1FY23	- AJANTA PHARMA LIMITED, AJANTA PHARMA LIMITED	Read the call

Some earlier announcements under this heading are covering letters only — no transcript was attached.

What they said about it, quarter by quarter

Topic	Q1FY23
Capex	43 Crores during first quarter of FY2023. Capex including maintenance capex for this year is estimated to be around Rs.
Capital allocation	We are looking for acquisitions, we are counting for acquisition, we are always looking at all the opportunities which are coming in the market.
Costs	The reason for the same are one time inventory write-off of 2% due to expiry, increase in raw material and packaging material cost due to global infla…
Guidance	Against the guidance, material cost of 25% to 26%, Q1 FY2023 raw material cost was at 29%.
Margin	EBITDA was lower in the quarter at 23% mainly due to the above factors mentioned by me earlier.
People	My first question is on what is the cash utilization avenue or deployment that do you think about going ahead?
Pricing	Our first quarter performance has been satisfactory and it has been on the back of new product launches, market share gain and price increase.
Revenue growth	54 Crores posting a growth of 44% over previous year same period.