Professional Documents
Culture Documents
OF
AJANTA PHARMA LTD
-G.S.ABHILASH
-PG2015-003
Introduction
Ajanta pharma is a speciality pharmaceutical company in development
manufacturing and marketing of quality finished dosages in domestic and
Listing Details
Other Details
Sector
Healthcare
Industry
Incorporation
31-12 1979
Year
SubIndustry
House
Vimal Agrawal
AJANTPHARM
ISIN NO
INE031B01049
Chairman
Mannalal B
Agrawal
Managing
Director
Yogesh M
Agrawal
Company
Secretary
Gaurang Shah
Auditor
Face Value 2
Listing
BSE,NSE,MCX
BSE Group A
Indices
Kapoor &
Parekh
Associates
No of
Employees
Latest
Mar 2015
BSE200, BSE500, MIDCAP, S&P
Fin.Year End
BSESMALLCAP, S&P
AGM Date 05-Jul-2016
BSEHEALTH, S&P
MIDSMLCAP, S&P ALLCAP,
Reuters Code AJPH.BO
S&PBSESMLSEL ,
NIFTYMIDCAP, NIFTY500,
MIDCAP50, NIFTY200,
Bloomberg
AJP IN
NIFTYALPHA, LIX 15 MIDCAP, Code
NIFTYMIDCAP150,
Manufacture
NIFTYMIDSMALL400
Of Allopathic
NIC Activity
Pharmaceutical
Preparations
NIC Code
Registrar Details
21002
Contact Details
Addres Ajanta
House,Charkop
C-13 Pannalal Silk Compound,L B s
,Kandivali (W)
S Marg,Bhandup ,Mumbai 400078
Mumbai,Maharashtra
91-022-400067 .
25946970/71/72/73/74/75/76/77/78/
Phone 91-22-66061000
60320 (Phone)
No
(Phone)
91-022-25946979/91-022-25960329
+91-22(Fax)
Fax
66061200/300 (Fax)
Registrar
helpdesk@linkintime.co.in
Email Id
Registrar
www.linkintime.co.in
Website
SNAP SHORT
Email info@ajantapharma.c
ID
om
Websit www.ajantapharma.c
e
om
73.78
0.86
FII %
9.76
8.80
Free Float %
26.22
Mar 2015
31-032015
1.00
Mar 2014
31-032014
1.00
Mar 2013
31-032013
1.00
1356.20
1389.90
883.64
506.26
449.89
444.88
306.37
1109.92
1127.64
764.39
363.25
321.28
313.06
220.86
839.20
846.61
631.92
214.69
181.99
163.51
101.12
Cash Profit
Sources of Funds
Equity Paid Up
Reserves and Surplus
Net Worth
Total Debt
Application of Funds
Gross Block
Investments
Cash and Bank balance
Net Current Assets
Total Current Liabilities
Total Assets
Cash Flow
Cash Flow from Operations
Cash Flow from Investing
activities
Cash Flow from Finance
activities
Free Cash flow
Key Ratios
Debt to Equity
Current Ratio
ROCE
RONW
PBIDTM (%)
PATM (%)
CPM (%)
Market Cues
Price (Unit. Curr.)
Market Capitalization
EPS
Price / Book Value
CEPS
Equity Dividend %
Enterprise Value
355.79
262.83
133.82
17.59
768.22
785.81
70.86
17.58
518.08
535.66
128.94
11.71
343.99
355.70
123.46
510.93
76.62
105.69
328.20
244.83
1085.85
449.57
78.84
29.08
189.69
263.96
879.87
410.03
18.86
25.11
108.03
217.77
675.38
262.92
189.71
205.66
-145.63
-175.57
-98.45
-101.18
-19.80
-95.90
167.29
70.40
73.02
0.09
2.34
59.10
46.37
37.01
22.40
26.01
0.24
1.72
56.12
49.56
32.50
19.76
23.52
0.35
1.50
38.68
32.23
25.40
11.96
15.83
1225.45
10777.83
34.83
13.72
40.45
300.00
10743.00
400.56
3520.92
25.13
6.57
29.90
200.00
3620.78
171.57
1506.84
11.51
4.24
15.24
125.00
1605.19
Dividend Yield %
0.49
1.00
0.97
Stock performance
Company analysis
Ajantas products are sold over 40 countries.co-operates with 5 state of
the art manufacturing facilities that produce high quality
pharmaceutical products. Its focus is on commercializing unique
genetic products and processing synergistic combination products in
the therapeutic areas of anti-malarial, cardiovascular, dermatology,
Musculoskeletal and ophthalmology with primary focus on new
product innovation and introduction. It has been consistently
identifying unmet medical needs and introducing many first-to-market
products to cater to those needs.
Its products provide patients complacence and convenience over
existing therapeutic options gaining first mover advantages in its
respective segment. Ajanta has extensive presence in many countries in
Asia, Africa and Latin America and not only in US with
Customized product portfolio to suit the needs of each country. (More
than 40 countries).
The company is having factories in Maharashtra and Gujarat .and has a
top class Research and Development unit called ADVENT in
Mumbai for formulations and active pharmaceutical ingredient
synthesis of different dosage forms, working continually for innovative
products for various markets across the globe.
FINANCIALS
Financial statement Analysis Of Ajanta Pharma
(Amounts in Crores)
Sl. Particulars
2013- 2014
2014- 2015
2015- 2016
01 Sales
1109
1356
1551
02 Operating Profit
345
472
515
03 Net Profit
220
306
414
04 Share Capital
18
18
18
519
768
1018
74%
13%
10%
3%
74%
13%
10%
3%
06 Share Holding
Promotors
74%
General Public
13%
Foreign Investors
10%
MF/FII/n BKG/others 3%
07 EPS
62
35
47**
(Face Value of the share reduced from Rs.5 to Rs.2.00 in 2014)
08 CAGR
Revenue
22.53%
Net Profit
EPS
09 OPM*
32.00%
32.00%
31%
35%
33%
10 GPM
31%
36%
36%
11 NPM
19%
22%
25%
12 Return on Capital
13 Return on Net worth
49%
41%
54%
38%
56%
40%
2016
(515/1551)
(306/1356)
(414/1551)
RATIOS (REASONS)
(10710/306)
(19458/414)
Company has witnessed consistent rise in ROCE in the past five years.
Companies approach in concentrating on branded formulations of new
drugs.
Has worked out very well for its growth, a come a long way to become
a specialist even in cardiovascular medicines.
Between 2015 to 2016
Sales turnover has increased from 1356.20 cr to 1551.76
Operating profit has increased from 472.56 cr to 515.85
PBDT more from 494.30 cr to 594.00cr
PBT more from 444.88cr to 551.32cr
Tax paid is 136.84 cr & 136.84cr
Dividend declared is 300% Dividend Yield is around 39%
Average return on equity is @ 38%
Net profit growth by 38%, sales growth by 25 % market cap growth by
54% EPS, its growth share in the market is excellent.
Sale price performance is excellent, as on date a Rs.2.00 face value
share is quoted at Rs.1547.00 and expected to touch Rs.1780.00and one
of the top
50 preferred shares in the market. Market cap is Rs.13575.95 cr.
Book value is at Rs.136.45.
Focus on select generics has rewarded Ajanta with healthy margins and now
entry into US & EU markets is likely to be the key growth driver for the
company. A debt equity ratio of 0.6 will support its ambitious capex plan of
Rs.390 cr in the next two years & Rs.1000 cr to its top line .
Free Cash Flow-is a measure which is ignored by many investors. FCF
represents the cash that a company is able to generate after spending the
money required to maintain or expand its property, plant & equipment(PPE)
called capital expenditure(capex) Company has maintained good FCFRs.750 cr in 2014,Rs.1550 cr in 2015 & Rs.1750 cr in 2016.
The current ratios for 2014 is 1.75, for 2015 -2.5 & for 2016 it is 2.75
(expected ideal CR is 1:1.5) Interest coverage ratio more than 1.5 and
the overall performance of the company is on the growing trend.
Product line:
The company manufactures tablets, dry powder, Jelly, Liquid, Ayurvedic,
active pharma ingredients, eye drops, ointments etc., & the list goes on...
Dospin for reduction of BP
Alorvaslalin for hypertension
Benzalkonium chloriocin / ceflaxil for infections
Chopidiagrel for anty platelet agent-blood clot prevention
Norflaxin/Latonopost/Gate DX for eye care
Guaimburo-for chest congestion
Haloperidol- a tranquiliser for schizopheria
Lafulidine for ulcer
Strptomicin for fever
Lacom T for allergies and so the names goes on...
first' of-its kind generic drugs and caught the attention of analysts and
investors and showed excellent opportunity for investment as they
poised for rapid growth and the trading shot upto Rs1554 on the
stock market by 2014-15.
Today it stands net debt free with a Cash Reserve of Rs.100 crore.
They concentrated on speciality brands (medicines that can only be
prescribed by Specialist Doctors and not by General Physicians)
in four areas -ophthalmology, dermatology cardiovascular and pain
management. where the competition was less intense and of course
needed funds and SBI and Exim Bank agreed to extend loan facility
with the companies strategies and funds in place, Company has
since built a Rs. 418 crore business in India and is ranked 36 out of
top 300 Indian companies.
The change in strategy catapulted Ajantas margin from 14% in 2005
to 36.5%. as on date. Going ahead, gross profit margins are likely to
sustain 70-72% levels though EBDITA margins are expected to come
down from 31% in FY 2014 to 28% level by 2017 on a/c of the
commencement of new facilities.
Company has consistently improved its ROCE from 8.5% in 2005 to
54.50% as of now, its focus in niche therapies and exports to Africa
Asian countries are expected to help it maintain its momentum.
Revenues are likely to grow by 22% CAGR by 2017 and PAT by 25%.
Beta:
1.27
Market Cap(Mil.):
Shares Outstanding(Mil.):
Rs140,152.41
88.00
Dividend:
8.00
Yield (%):
0.50
FUTURE PROJECTIONS
The companys revenue to grow @ a CAGR of 19% during by and to touch
Rs.2072 crore. Exports are expected to grow @ 17.30% to Rs1309 crore,
around 63% of the estimated turnover EBITDA margin to sustain @ 3234% revenue growth.
Ajanta Pharma is committed to patient care since inception, accelerating its
growth over the years with the desire to fulfill its mission A COMMITMENT
TO SERVICING GLOBAL HEALTHCARE NEEDS with Empathy,
Innovation and Technology and this is the secret of the company's success