Ajanta Pharma: Shares Surge 14% on Strong Q4 Earnings, Buyback Plans

by | May 6, 2024 | 0 comments

Ajanta Pharma Latest Share Update:

Ajanta Pharma has produced some eye-catching numbers for Q4 which have sent its share price up 14% and to a new 52-week of Rs 2,540 in early trading on 3 May. Investors are particularly upbeat about the company’s March quarter results and news of a fresh share buyback plan.

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Shares were changing hands at Rs 2,477.95 on the National Stock Exchange (NSE) soon after the market opened. Ajanta has unveiled its fourth consecutive annual share repurchase scheme. This year it wants to buy back up to 1.028 million equity shares, or about 0.82% of its total outstanding stock, at a purchase price of Rs 2,770 each; this is a premium of about 24.5% over the last closing price and will involve an outlay of around Rs 285 crore.

In Q1 Mar’22 – Consolidated Revenue grew by +20% YoY to INR10.54bn ($140m); EBITDA improved by +1000bps YoY to INR2.78bn ($37m); Adj.PAT increased by +66% YoY to INR2.03bn ($27m). US Generics contributed $35m (25%), Asia Branded generics contributed $27m (18%), Africa branded generics & Institutional contributed $24mn (17%) and India contributed $21mn (31%) respectively.”

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For the quarter ended March, Ajanta Pharma reported consolidated net profit of INR2027cr vs expectations of INR2007cr vs INR1225cr YoY; revenue at INR1054cr vs expectations at INR944cr vs INR878 cr YoY; EBITDA stood at Rs278cr as against estimates of Rs224 cr YoY while margins expanded by nearly over +1000bps per cent at about 26%.

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