Ajanta Pharma surges on stellar Q4 performance

Shares of Ajanta Pharma were trading in green on Thursday after the pharma company reported strong numbers for the quarter and fiscal year ended March 31, 2020.

For Q4FY20, the company reported total income from operations at Rs 682 crore as against Rs 515 crore from the same period in the previous fiscal year, showcasing a YoY growth of 32 per cent. EBITDA came in at Rs 151 crore against Rs 127 crore, growing by 19 per cent. Profit after tax reported for the quarter ended March 2020, was Rs 129 crore, growing by 45 per cent from Rs 89 crore in March 2019.

The company’s Indian sales saw an 11 per cent YoY quarterly growth in Q4FY20 to Rs 177 crore. For twelve-month, Indian sales were Rs 769 crore (against Rs 690 crore), posting a growth of 11 per cent.

In the US, during FY20, the company received nine abbreviated new drug application (ANDA) final approvals, one tentative approval and filed 11 ANDA with United States Food & Drug Administration (USFDA). Out of 32 final ANDA approvals, it has commercialised 30 products whereas, one tentative approval and 23 ANDAs are still awaiting USFDA approval. The company stated that it has plans to file 10-12 ANDAs during the next financial year.

Ajanta Pharma is a speciality pharmaceutical formulation company having branded generic business in India & emerging markets, generic business in US and institution business in Africa.

At 1.30 pm on Thursday, the stock of the company was trading at Rs 1,500, up by 4.01 per cent or Rs 57.80 per share. The 52-week high is Rs 1,578.10 and the 52-week low is Rs 840 on BSE.