Whalesbook
Toh dekho, company ne fiscal year 2026 ka Q4 ekdum jabardast finish kiya hai. Revenue 21.5% tezi se badh kar ₹1,421.6 crore ho gaya, jo pichle saal ₹1,170.4 crore tha. Aur Net Profit bhi 18.4% jump kar ke ₹266.7 crore par pahuncha. Poore FY26 ki baat karein toh revenue 17% badh kar ₹5,453 crore ho gaya, aur company ne 19% ka profit after tax margin bhi maintain kiya hai.
Abhi jo Reported EBITDA tha woh 12.2% badh kar ₹333.4 crore hua. Is wajah se EBITDA margin thoda neeche aaya, 23.5% pe jo pichle saal 25.4% tha. Iska main reason hai ₹42 crore ka foreign exchange loss. Lekin agar is forex wale scene ko hata dein, toh company ka adjusted EBITDA 26% tezi se badh kar ₹375 crore ho gaya, aur adjusted margin 26% raha. Yeh figures company ki asli operational strength dikhate hain. Poore FY26 ke liye, adjusted EBITDA 18% badh kar ₹1,498 crore ho gaya, 27% margin ke saath. Company ne 33% return on capital employed aur 25% return on net worth bhi achieve kiya.
Future growth ke liye Ajanta Pharma R&D par paisa laga rahi hai. Q4 mein R&D kharcha badh kar ₹70 crore ho gaya pichle saal ke ₹53 crore se. Poore saal mein R&D par ₹252 crore kharch kiye gaye, jo revenue ka 5% hai. US market ke liye, company ne FY26 mein paanch Abbreviated New Drug Applications (ANDAs) file kiye aur chaar approve bhi ho gaye. Total 49 ANDAs ab tak commercialize ho chuke hain, aur 19 US FDA approval ka wait kar rahe hain.
Market mein Ajanta Pharma ki valuation lagbhag ₹36,000 crore hai. Iska trailing twelve-month P/E ratio 34.76 hai, jo iske 10-saal ke median P/E 27.11 se thoda zyada hai. Analysts mostly positive hain, aur zyadatar log 'Buy' karne ko keh rahe hain. Average target price ₹3,203 diya hai, matlab abhi ke price se 11% upar jaane ka chance hai.
Lekin kuch risks bhi hain dhyan rakhne wale. Company ke Paithan facility ko USFDA se kuch observations mile hain, jisse future mein manufacturing ya export mein problem ho sakti hai agar resolve na ho. Aur yeh jo forex ka upar-neeche hona hai, woh bhi profit numbers ko thoda affect karta hai. Peers jaise Mankind Pharma ke comparison mein valuation thoda high lag sakta hai.
Overall, Indian pharma sector achha perform kar raha hai, aur Ajanta Pharma bhi iska fayda utha sakti hai, especially domestic market mein. R&D investments aur US pipeline iske liye positive hain. Bas USFDA issues aur currency fluctuations ko manage karna hoga.