In Week of Mar 28, 2026, Ajanta Pharma Ltd (Pharma - Formulators) is outperforming Nifty 500 with +16.3% relative strength. Fundamentals: Average. On a 10-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: India branded business growing at 11% vs market growth of 9%, with volume growth exceeding by 47% and new launches by 59%
Impact: +₹2.8 Cr revenue
“We continue to outperform the Indian pharmaceutical market by 28% as per IQVR MAT December 2025 with Ajanta delivering an impressive growth of 11% compared to IPM's 9%. We continue to exceed volume growth by 47% to IPM and new launches by 59%.”
What: Africa business delivering stronger than anticipated performance surpassing initial plans for both quarter and 9-month period
Impact: +₹3.5 Cr revenue
“Africa delivered stronger than anticipated performance surpassing our initial plans for both the quarter and the 9 month period.”
What: Maintaining EBITDA margin guidance of 27% ±1% despite 25% increase in personal costs from medical representative additions
“We remain confident of maintaining ebitda margin of 27% plus or minus 1% for the remaining period and for the full year.”
Earnings deceleration risks from management commentary
Trigger: Continued softness in Asian markets
Impact: -100 bps margin impact
Management view: Asia performance was modestly below our internal plans driven by softer than anticipated performance in the few markets. We remain confident that the business will return to its normal growth trajectory over the coming quarters.
Monitor: Asia region quarterly growth rate
Trigger: Full implementation of new labor code
Impact: -50 bps margin impact
Management view: During the quarter the Government of India's new Labor Code became applicable. Based on our initial assessment, an additional provision of Rupees seven crore has been made towards liabilities arising from the new court.
Monitor: Additional labor code related provisions
Key quotes from recent conference calls
“We have now completed the third quarter and first nine months of the current financial year. On a strong note, for the quarter, our revenue from the operations grew by 20% and our margins remained resilient despite higher investments and operating expenses. — Yogesh Agrawal”
“We remain confident of maintaining ebitda margin of 27% plus or minus 1% for the remaining period and for the full year. — Yogesh Agrawal”
“We continue to outperform the Indian pharmaceutical market by 28% as per IQVR MAT December 2025 with Ajanta delivering an impressive growth of 11% compared to IPM's 9%. We continue to exceed volume growth by 47% to IPM and new launches by 59%. — Yogesh Agrawal”
“All our businesses are shaping broadly in line with our plans and we remain confident about sustaining this growth momentum going forward. — Yogesh Agrawal”
Forward-looking targets from management for FY26
OPM Guidance
27%
Capex Plan
₹300 Cr
Key Milestones
• Maintain EBITDA margin of 27% ±1% for FY26
• Capex of around ₹300 cr for FY26
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +20% | +12% | Accelerating |
| PAT (Net Profit) | +18% | +9% | Stable |
| OPM | 28.0% | 0 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Ajanta Pharma Ltd's latest quarterly results (Dec 2025) show
Ajanta Pharma Ltd's profit is growing with an stable trend.
Ajanta Pharma Ltd's revenue growth trend is accelerating.
Ajanta Pharma Ltd's operating margin is stable.
Ajanta Pharma Ltd's long-term compounding rates
Ajanta Pharma Ltd's earnings growth is stable with positive momentum on a sequential basis.
Ajanta Pharma Ltd's trailing twelve month (TTM) performance
Ajanta Pharma Ltd appears fairly valued based on our fair value analysis.
Ajanta Pharma Ltd's current PE ratio is 34.6x.
Ajanta Pharma Ltd's current PE is 34.6x.
Ajanta Pharma Ltd's price-to-book ratio is 8.1x.
Ajanta Pharma Ltd is rated Average with a fundamental score of 49.63/100. This score is calculated from objective financial metrics
Ajanta Pharma Ltd has a debt-to-equity ratio of N/A.
Ajanta Pharma Ltd's return ratios over recent years
Ajanta Pharma Ltd's operating cash flow is positive (FY2025).
Ajanta Pharma Ltd's current dividend yield is 1.00%.
Ajanta Pharma Ltd's shareholding pattern (Dec 2025)
Ajanta Pharma Ltd's promoter holding has remained stable recently.
Ajanta Pharma Ltd has been outperforming Nifty 500 for 10 consecutive weeks, indicating consistent outperformance.
Ajanta Pharma Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
Ajanta Pharma Ltd has 3 key growth catalysts identified from recent earnings analysis
Ajanta Pharma Ltd has 2 key risks worth monitoring
In Q3 FY26, Ajanta Pharma Ltd's management highlighted
Ajanta Pharma Ltd's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Ajanta Pharma Ltd may be worth studying
Ajanta Pharma Ltd investment thesis summary:
Ajanta Pharma Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
