Ajanta Pharma Ltd
AJANTPHARMAjanta Pharma Ltd's price has outrun its earnings. +43.9% in a year against EPS +14.7% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +43.9% in a year while annual EPS moved +14.7% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (38 weeks in) while the P/E sits at the 94th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +31.0% year on year, and 89% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Ajanta Pharma Ltd trades at ₹3,548, in a confirmed uptrend and 38 weeks into that stage. That is +12.4% against its own 200-day average. It sits at 89% of a 52-week range of ₹2,486 to ₹3,673. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks.
Today the stock is in a confirmed uptrend — week 38 of stage 2, confirmed. At ₹3,548 it trades +12.4% versus its 200-day average and sits at 89% of its 52-week range (₹2,486–₹3,673).
Against the market, two honest reads. Cumulative: over the last 10.6 years the stock moved +313% while the NIFTY 500 moved +268% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 20 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Ajanta Pharma Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: Mid-Cycle Expansion with Valuation Premium. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. Ajanta Pharma pairs domestic branded market share gains and Africa expansion with 27% operating margins and 34.5% ROCE, while a 40.1x PE multiple and FY27 US generic growth moderation shift return dependency toward volume execution rather than multiple expansion.
What is proven. Ajanta Pharma pairs domestic branded market share gains and Africa expansion with 27% operating margins and 34.5% ROCE, while a 40.1x PE multiple and FY27 US generic growth moderation shift return dependency toward volume execution rather than multiple expansion.
What is not proven yet. A deceleration of India branded formulation growth below the Indian Pharmaceutical Market average for two consecutive quarters, combined with operating cash flow to net profit conversion remaining below 0.60x and failure of Asia branded shipments to recover in Q2 FY27.
🚨 What would change our mind. A deceleration of India branded formulation growth below the Indian Pharmaceutical Market average for two consecutive quarters, combined with operating cash flow to net profit conversion remaining below 0.60x and failure of Asia branded shipments to recover in Q2 FY27.
Layer 1 read, 22 August 2026 — KEEP. Real volume-led growth — but the highest price in its history, plus an unexplained promoter sale. Ajanta's engine is genuinely working: sales grew in every one of the last twelve quarters and the June 2026 quarter put on 24.8 percent revenue and 31.0 percent profit, with the profit jump surviving my check that it was not just currency gains — stripping the currency in and out leaves clean operating profit of Rs 454 crore. The problem is price and disclosure, not performance. The shares trade at 40.1 times earnings, the 94th percentile of their own ten-year range, and because margins are already at their normal 27 percent level rather than depressed there is no cheapness hiding underneath — the multiple has to be earned by volume alone from here. On top of that, promoters sold 2.76…
What would change Layer 1’s mind. Sharpening the timeline's own falsification line to what I can check next quarter: if India branded formulation growth prints below the domestic market's rate in Q2 FY27 (breaking driver D1's kill-switch) OR the Asia branded business fails to recover to Rs 290 crore in Q2 as milestone M1 requires — while operating cash conversion stays under 0.65x — then the volume story that is the ONLY justification for a 94th-percentile multiple has broken, and this goes to DROP. Conversely, a filed…
Layer 2 read, 22 August 2026 — BENCH. Strong earnings are intact, but Ajanta is extended inside a topping pharma cycle. Jun 2026 revenue and profit growth are hard facts, and the sector's earlier move was earnings-led. However, the stock's soft valuation read is near its historical high and not rescued by margin normalization [C028 ⚠], while the current sector verdict is TOPPING. This is a BENCH on entry timing, not a rejection of business quality.
What would change Layer 2’s mind. A fresh schema-2 sector timeline changing Pharma - Formulators from TOPPING to TURNING_AROUND would flip BENCH to ADVANCE.
The test written in advance. A deceleration of India branded formulation growth below the Indian Pharmaceutical Market average for two consecutive quarters, combined with operating cash flow to net profit conversion remaining below 0.60x and failure of Asia branded shipments to recover in Q2 FY27. — the thesis as written as stated by the next result.
The test written in advance. US generic growth moderation and price erosion — US generic growth moderation and price erosion Sequential US generic revenue falling below 380 crore per quarter in Q2 or Q3 FY27. by the next result.
The test written in advance. Working capital elongation and cash conversion deficit — Working capital elongation and cash conversion deficit FY27 interim balance sheet showing debtor days exceeding 125 days or operating cash flow below 600 crore. by the next result.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| India branded formulation outperformance | in play | — | Chronic therapy concentration and first-to-market launches generate 300 to 400 bps growth above the Indian Pharmaceutical Market. | Price controls under NLEM expand into core chronic combinations or domestic volume growth decelerates below IPM rate. |
| Africa branded market expansion and sales… | in play | — | Matured sales force cohorts drive 30.0% YoY growth across French and West African branded formulations. | Severe currency devaluations in key African export destinations compress INR realizations or import restrictions are imposed. |
| Manufacturing infrastructure expansion at… | in play | — | FY27 planned capex of 400 crore expands dedicated oral solid and liquid formulation capacity. | Commercialization delays at Kicampur push back operating timelines or capacity utilization remains below 60% post-commissioning. |
| US generic specialty niche positioning | in play | — | Targeted filings of 5 to 7 ANDAs annually maintain baseline cash generation despite competitive price erosion. | Price erosion in key commercialized ANDAs accelerates beyond 10% annually or FDA regulatory observations halt manufacturing at formulation sites. |
🚨 What the surface reading misses. The surface reading is: Q1 FY27 delivered robust operating scale across revenue and net profit. The research reads it further: Operating margin of 26.1% remains in line with management's annual 27% band, showing operating cost absorption from personnel increments (Rs 381 cr, +26% YoY) and freight.
🚨 What the surface reading misses. The surface reading is: Q4 FY26 concluded the fiscal year with 21.5% YoY revenue growth. The research reads it further: Operating margin dipped to 23.4% due to a 42 crore mark-to-market forex loss; underlying operational EBITDA margin was 27%.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Ajanta Pharma Ltd reported ₹1,626 Cr of revenue in the Jun 26 quarter, +24.8% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 12.0% a year. The last full year, FY26, came in at ₹5,453 Cr. The last four reported quarters add to ₹5,777 Cr.
Why this happened. Ajanta derives 32.0% of revenues from domestic formulations, where sales reached 509 crore in Q1 FY27 (+24.0% YoY). Growth is anchored in chronic therapies including cardiology (37% of India revenue), ophthalmology (29%), dermatology (22%), and pain management (10%). Expanding the medical representative network to 3,750 reps and targeting steady-state PCPM of 4.0 to 4.5 lakhs (currently 3.7 to 4.5 lakhs) sustains domestic volume growth 40% above the IPM average.
FY26 revenue came in at ₹5,453 Cr (+17.3% on the year), capping 10 years at 12.0% compound. The latest quarter (Jun 26) printed ₹1,626 Cr, +24.8% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +20.1% growth against the decade's 12.0% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +20.2% over the last 4 quarters against +15.5%/yr over the last 8 — accelerating; TTM profit +22.2% vs +15.3%/yr — accelerating.
FY26-Q4. revenue ₹1,422 Cr and profit ₹267 Cr as reported.
FY27-Q1. revenue ₹1,626 Cr and profit ₹334 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Ajanta Pharma Ltd's operating margin is 26.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 22.0% to 35.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 26.0%, −1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 22.0%–35.0%.
🚨 Why the margin moved: operating margin went −0.9 pp year on year while gross margin went +1.0 pp — the loss came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹1,422 Cr and profit ₹267 Cr as reported.
FY27-Q1. revenue ₹1,626 Cr and profit ₹334 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Ajanta Pharma Ltd earned ₹334 Cr of net profit in the Jun 26 quarter, +31.0% year on year. It is the 12th consecutive quarter of growth. Full-year FY26 profit was ₹1,056 Cr. The 10-year compound rate is 9.8%. That is 20.5% of the quarter's revenue. The same quarter a year earlier earned ₹255 Cr.
Jun 26 profit was ₹334 Cr, +31.0% year on year — the 12th consecutive quarter of growth. On the full year, FY26 printed ₹1,056 Cr (+14.8%), and the 10-year compound rate is 9.8%.
Why profit moved: revenue contributed +24.8% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +21.9% vs revenue +20.1%. Profit and revenue are moving roughly in step.
FY26-Q4. revenue ₹1,422 Cr and profit ₹267 Cr as reported.
FY27-Q1. revenue ₹1,626 Cr and profit ₹334 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 89% of Ajanta Pharma Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹529 Cr of operating cash against ₹1,056 Cr of profit. After ₹360 Cr of capital spending, ₹169 Cr was left as free cash.
Why this happened. US generic revenue reached 480 crore in Q1 FY27 (+57.0% YoY) and 1,557 crore in FY26 (+49% YoY), supported by a portfolio where most commercialized products hold market share of 20% or higher. While management projects moderation to mid-single-digit growth for the remainder of FY27 due to competitive price erosion, steady ANDA filings (5 to 7 planned for FY27 with 4 to 5 launches targeted for H2) sustain scale.
FY26: operating cash of ₹529 Cr against reported profit of ₹1,056 Cr, leaving free cash of ₹169 Cr after ₹360 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 89% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 89%: the cash cycle tightened 69 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 1.9× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Ajanta Pharma Ltd's cash conversion cycle runs 246 days in FY26, down from 315 days in FY21. Capital spending ran ₹872 Cr over the last 3 years. At FY26 sales of ₹5,453 Cr each day of that cycle holds about ₹14.9 Cr, so roughly ₹3,675 Cr sits inside the business at any moment.
Why this happened. Africa branded generics delivered 295 crore in Q1 FY27 (+30.0% YoY), accounting for 18% of total revenue. Growth is driven by field force investments made over the past 2-3 years reaching commercial maturity alongside three new product launches in Q1. Management guides high-double-digit growth for Africa for the full fiscal year.
FY26: debtors at 124 days, inventory at 289 days — roughly 9.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 246 days, tighter than FY21's 315.
The full loop: cash goes out to suppliers and production on day 0; stock waits 289 days to sell; customers pay about 124 days after that; and suppliers themselves are paid at 168 days — netting out to the 246-day cycle.
In money terms: at FY26 sales of ₹5,453 Cr, each day of the cycle holds about ₹14.9 Cr — so the 246-day loop keeps roughly ₹3,675 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹872 Cr over the last 3 fiscal years against ₹452 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹258 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Ajanta Pharma Ltd earns a ROCE of 35% in FY26. That is up from a trough of 23% in FY23. Return on invested capital clears the cost of that capital by +13.8 percentage points, so growth here adds value rather than only size. The wiring behind it is 19.4% net margin on 0.90× asset turns.
FY26 ROCE is 35%, recovered from a FY23 trough of 23% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 19.4% net margin × 0.90× asset turns × 1.33× balance-sheet leverage ≈ 23.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 25.8% − 12.0% = a +13.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Ajanta Pharma Ltd carries total debt of ₹260 Cr against shareholder equity of ₹4,527 Cr as of Mar 26, a debt-to-equity of 0.06 — effectively unlevered. On the annual view that ratio went from 0.01 in FY22 to 0.06 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹260 Cr against shareholder equity of ₹4,527 Cr — a debt-to-equity of 0.06. On the annual view, debt-to-equity went from 0.01 (FY22) to 0.06 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 4.4 points of Ajanta Pharma Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 21.8% of the company. Promoters moved −2.8 points over the same window, to 63.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +4.4 points over 8 quarters to 21.8%; Promoters: −2.8 points over 8 quarters to 63.5%; Foreign institutions: −0.7 points over 8 quarters to 7.7%.
Why the register moved: domestic institutions drove it (+4.4 points), absorbed on the other side by promoters (−2.8 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Ajanta Pharma Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Ajanta Pharma Ltd trades at 39.1× P/E, at the pricey end of its own range (94th percentile). Its long-run median P/E is 28.1×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 39.1× is at the pricey end of its own range (94th percentile), against a long-run median of 28.1× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +14.7% against a +43.9% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +19.6%/yr price move, ~+11.6%/yr came from earnings growth and ~+8.0 pp from the multiple (expanding); over 10y, of the +10.0%/yr price move, ~+10.4%/yr came from earnings growth and ~−0.4 pp from the multiple (roughly flat). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 26 August 2026 price, Ajanta Pharma Ltd was paying for profit growth of about 22.1% a year. Profit itself has compounded 9.8% a year over the past 10 years. Today the market pays 39.1× P/E, the 94th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is far above what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 26 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 25 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Ajanta Pharma Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 31.8% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +17.3% | +13.4% | +13.5% | +12.0% |
| Profit | +14.8% | +21.6% | +10.1% | +9.8% |
| EPS | +14.7% | +22.6% | +10.9% | +10.4% |
| Share price | +43.9% | +27.6% | +19.6% | +10.0% |
4-Factor Sector Score
51.8/100 — rank 15 of 34 in Pharma Formulations · 100% evidence confidence
Ajanta Pharma Ltd scores 51.8 out of 100 against the 34 companies it is compared with in Pharma Formulations, ranking 15. Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
The four contributions add to the total exactly: 19.4 + 20.1 + 6.9 + 5.4 = 51.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Ajanta Pharma Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
US full-year growth outlook materially reduced · 30 July 2026. In the Jan 2026 call, management said US growth for FY '27 should be double-digit, while the Jul 2026 call guided only to mid-single-digit to upper-mid-single-digit growth for the rest of the year. Management cited expected competition, price erosion, and market-share loss, but did not quantify what changed from the earlier double-digit outlook or bridge the impact on earnings.
GLP-1 Asia/Africa launch timeline shifted out · 30 July 2026. In the Jan 2026 call, management expected approvals to begin from 12 months onward and revenue to start in 27-28. In the Jul 2026 call, management instead said the Asia and Africa launches were two years further away, a material timeline change that was not explained.
🚨 US FY2027 Growth Guidance Sharply Downgraded · 5 May 2026. In the Jan 2026 call, management expressly committed to double-digit US generic growth in FY2027, using the phrase 'for sure' even while acknowledging it was early to guide precisely. By the May 2026 call, management revised this to mid-single-digit growth, citing the high FY2026 base - a factor that was already clearly visible in the nine-month trajectory at the time of the January commitment.
FY2027 EBITDA Margin Expansion Promise Reversed · 5 May 2026. In the Jul 2025 call, management responded to a direct question about FY2027 margin expansion with an unequivocal 'Yes. Certainly, certainly,' framed in the context that heavy FY2026 investment costs would normalize. In the May 2026 call, management guided FY2027 margins at 27% plus or minus 1%, using the word 'maintaining' - flat versus FY2026 levels - a clear reversal of the unambiguous expansion commitment made approximately ten months earlier with no explicit acknowledgment of the change.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Kwality Pharmaceuticals Ltd539997 | 72.1/100Favorable setup82% evidence | LEADER | 30.3/35 Revenue 37.9% · PAT 88.4% · OPM change 3 pp 95% evidence | 18.0/25 ROCE 24.1% · OPM 25% 76% evidence | 6.8/20 P/E 46.7× · PEG — 50% evidence | 17.0/20 RS sector 45% · RS bench 105.2% · 1Y 283.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 30.3 + 18 + 6.8 + 17 = 72.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Glenmark Pharmaceuticals LtdGLENMARK | 67.1/100Favorable setup100% evidence | BREAKING OUT | 29.9/35 Revenue 32.9% · PAT 100% · OPM change 2 pp 100% evidence | 18.6/25 ROCE 39.8% · OPM 20% 100% evidence | 14.0/20 P/E 21.5× · PEG 1.43 100% evidence | 4.6/20 RS sector -25.4% · RS bench 13.8% · 1Y 14.1%5 of 12 weeks ahead 100% evidence |
| Exact sum: 29.9 + 18.6 + 14 + 4.6 = 67.1 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -25.4% and the one-year return is 14.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 3Gland Pharma LtdGLAND | 65.2/100Favorable setup100% evidence | LEADER | 26.6/35 Revenue 17.6% · PAT 46.4% · OPM change 3 pp 100% evidence | 13.8/25 ROCE 15.1% · OPM 27% 100% evidence | 11.9/20 P/E 42× · PEG 1.45 100% evidence | 12.9/20 RS sector -3.5% · RS bench 44.2% · 1Y 44.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.6 + 13.8 + 11.9 + 12.9 = 65.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Accent Microcell LtdACCENTMIC | 64.8/100Mixed-positive evidence63% evidence | LEADER | 17.1/35 Revenue — · PAT — · OPM change -1 pp 26% evidence | 19.1/25 ROCE 24.9% · OPM 16% 95% evidence | 10.2/20 P/E 36.9× · PEG — 50% evidence | 18.4/20 RS sector 12.6% · RS bench 65.7% · 1Y 151.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 17.1 + 19.1 + 10.2 + 18.4 = 64.8 · Decision use: Price leads the evidence: RS versus the benchmark is 65.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 5Senores Pharmaceuticals LtdSENORES | 63.7/100Mixed-positive evidence75% evidence | LEADER | 31.7/35 Revenue 50.9% · PAT 92.7% · OPM change 5 pp 95% evidence | 14.8/25 ROCE 15.1% · OPM 30% 76% evidence | 9.6/20 P/E 49.4× · PEG — 15% evidence | 7.6/20 RS sector -6.3% · RS bench 38% · 1Y 90.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 31.7 + 14.8 + 9.6 + 7.6 = 63.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Corona Remedies LtdCORONA | 63.6/100Mixed-positive evidence73% evidence | BREAKING OUT | 20.6/35 Revenue 18% · PAT 19.3% · OPM change 2 pp 100% evidence | 20.7/25 ROCE 33.3% · OPM 22% 100% evidence | 12.3/20 P/E 61× · PEG 1.18 65% evidence | 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence |
| Exact sum: 20.6 + 20.7 + 12.3 + 10 = 63.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Bliss GVS Pharma LtdBLISSGVS | 63.3/100Mixed-positive evidence82% evidence | LEADER | 28.1/35 Revenue 20.6% · PAT 25.7% · OPM change 7 pp 95% evidence | 15.0/25 ROCE 16.9% · OPM 27% 76% evidence | 6.4/20 P/E 54.4× · PEG — 50% evidence | 13.8/20 RS sector 63.8% · RS bench 128.5% · 1Y 368.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.1 + 15 + 6.4 + 13.8 = 63.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Ipca Laboratories LtdIPCALAB | 61.8/100Mixed-positive evidence82% evidence | LEADER | 24.9/35 Revenue 10.6% · PAT 68% · OPM change 6 pp 95% evidence | 15.9/25 ROCE 17% · OPM 24% 76% evidence | 12.3/20 P/E 36.4× · PEG — 50% evidence | 8.7/20 RS sector -15.4% · RS bench 28% · 1Y 36.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24.9 + 15.9 + 12.3 + 8.7 = 61.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Emcure Pharmaceuticals LtdEMCURE | 59.4/100Mixed-positive evidence75% evidence | LEADER | 25.6/35 Revenue 18.4% · PAT 32.2% · OPM change 1 pp 95% evidence | 18.1/25 ROCE 24% · OPM 21% 76% evidence | 10.6/20 P/E 35.9× · PEG — 15% evidence | 5.1/20 RS sector -18.5% · RS bench 23.1% · 1Y 45.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 25.6 + 18.1 + 10.6 + 5.1 = 59.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.5% and the one-year return is 45.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 10Granules India LtdGRANULES | 59.1/100Mixed-positive evidence100% evidence | LEADER | 26.8/35 Revenue 24.8% · PAT 38.1% · OPM change 3 pp 100% evidence | 15.3/25 ROCE 15.5% · OPM 23% 100% evidence | 10.0/20 P/E 36.4× · PEG 1.27 100% evidence | 7.0/20 RS sector -13.2% · RS bench 29.9% · 1Y 59.9%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.8 + 15.3 + 10 + 7 = 59.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Marksans Pharma LtdMARKSANS | 56.8/100Mixed-positive evidence87% evidence | BREAKING OUT | 24.9/35 Revenue 19.6% · PAT 48% · OPM change 9 pp 100% evidence | 16.2/25 ROCE 18.8% · OPM 25% 100% evidence | 6.8/20 P/E 29.6× · PEG 2.85 65% evidence | 8.9/20 RS sector -20.8% · RS bench 59.1% · 1Y 88.1%12 of 12 weeks ahead 70% evidence |
| Exact sum: 24.9 + 16.2 + 6.8 + 8.9 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Rubicon Research LtdRUBICON | 56.8/100Mixed-positive evidence73% evidence | BREAKING OUT | 22.6/35 Revenue 46.8% · PAT 91.4% · OPM change 2 pp 100% evidence | 18.2/25 ROCE 28.4% · OPM 24% 100% evidence | 6.0/20 P/E 96.3× · PEG 2.41 65% evidence | 10.0/20 RS sector — · RS bench — · 1Y 170.9%12 of 12 weeks ahead 0% evidence |
| Exact sum: 22.6 + 18.2 + 6 + 10 = 56.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 13Ind-Swift Laboratories LtdINDSWFTLAB | 54.5/100Mixed-positive evidence87% evidence | LEADER | 22.1/35 Revenue 53.9% · PAT -74.3% · OPM change 14.6 pp 95% evidence | 4.9/25 ROCE 4.9% · OPM 17% 95% evidence | 7.5/20 P/E 54× · PEG — 50% evidence | 20.0/20 RS sector 73.1% · RS bench 145.3% · 1Y 288.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 22.1 + 4.9 + 7.5 + 20 = 54.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Caplin Point Laboratories LtdCAPLIPOINT | 54.3/100Mixed-positive evidence100% evidence | LEADER | 16.2/35 Revenue 15% · PAT 19.6% · OPM change 0 pp 100% evidence | 18.0/25 ROCE 24.2% · OPM 35% 100% evidence | 11.0/20 P/E 32.4× · PEG 1.52 100% evidence | 9.1/20 RS sector -6.9% · RS bench 39.9% · 1Y 21%12 of 12 weeks ahead 100% evidence |
| Exact sum: 16.2 + 18 + 11 + 9.1 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Ajanta Pharma Ltdthis pageAJANTPHARM | 51.8/100Mixed-positive evidence100% evidence | LEADER | 19.4/35 Revenue 20.2% · PAT 22.2% · OPM change -1 pp 100% evidence | 20.1/25 ROCE 34.5% · OPM 26% 100% evidence | 6.9/20 P/E 39.1× · PEG 2.31 100% evidence | 5.4/20 RS sector -19.2% · RS bench 22.3% · 1Y 39.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.4 + 20.1 + 6.9 + 5.4 = 51.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 16Fredun Pharmaceuticals Ltd539730 | 51.6/100Thin evidence · provisional50% evidence | 16.8/35 Revenue — · PAT — · OPM change 0 pp 24% evidence | 14.8/25 ROCE 21.3% · OPM 14% 76% evidence | 9.1/20 P/E 58.4× · PEG — 15% evidence | 10.9/20 RS sector -29% · RS bench 133.6% · 1Y 26%0 of 6 weeks ahead to 2026-08-16 100% evidence | |
| Exact sum: 16.8 + 14.8 + 9.1 + 10.9 = 51.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 17RPG Life Sciences LtdRPGLIFE | 51.1/100Mixed-positive evidence93% evidence | LEADER | 9.4/35 Revenue 11.9% · PAT -34.1% · OPM change 1 pp 100% evidence | 17.6/25 ROCE 25.7% · OPM 22% 100% evidence | 11.5/20 P/E 43.2× · PEG 1.43 65% evidence | 12.6/20 RS sector -11.3% · RS bench 34.8% · 1Y 25%11 of 12 weeks ahead 100% evidence |
| Exact sum: 9.4 + 17.6 + 11.5 + 12.6 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Strides Pharma Science LtdSTAR | 49.9/100Mixed-negative evidence75% evidence | TURNING | 19.2/35 Revenue 8.1% · PAT 79.1% · OPM change -1 pp 95% evidence | 13.2/25 ROCE 18.3% · OPM 18% 76% evidence | 11.5/20 P/E 18.8× · PEG — 15% evidence | 6.0/20 RS sector -18.6% · RS bench 23.7% · 1Y 36%5 of 12 weeks ahead 100% evidence |
| Exact sum: 19.2 + 13.2 + 11.5 + 6 = 49.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Akums Drugs & Pharmaceuticals LtdAKUMS | 49.4/100Mixed-negative evidence75% evidence | LEADER | 11.9/35 Revenue 9.2% · PAT -15.8% · OPM change 2 pp 95% evidence | 10.7/25 ROCE 14.9% · OPM 15% 76% evidence | 10.0/20 P/E 42.3× · PEG — 15% evidence | 16.8/20 RS sector 3.7% · RS bench 54.1% · 1Y 72%12 of 12 weeks ahead 100% evidence |
| Exact sum: 11.9 + 10.7 + 10 + 16.8 = 49.4 · Decision use: Price leads the evidence: RS versus the benchmark is 54.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 20Wockhardt LtdWOCKPHARMA | 49.4/100Mixed-negative evidence74% evidence | TURNING | 24.0/35 Revenue 18.4% · PAT 100% · OPM change 11 pp 74% evidence | 5.4/25 ROCE 7.5% · OPM 21% 100% evidence | 8.8/20 P/E 92.3× · PEG — 15% evidence | 11.2/20 RS sector -2% · RS bench 46.5% · 1Y 50.5%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24 + 5.4 + 8.8 + 11.2 = 49.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Zydus Lifesciences LtdZYDUSLIFE | 48.9/100Mixed-negative evidence100% evidence | LEADER | 10.5/35 Revenue 21.1% · PAT -2.5% · OPM change -8 pp 100% evidence | 16.9/25 ROCE 21.1% · OPM 24% 100% evidence | 15.6/20 P/E 24.7× · PEG 1.23 100% evidence | 5.9/20 RS sector -18.8% · RS bench 23.4% · 1Y 16.1%9 of 12 weeks ahead 100% evidence |
| Exact sum: 10.5 + 16.9 + 15.6 + 5.9 = 48.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 22Suven Life Sciences LtdSUVEN | 47.8/100Mixed-negative evidence67% evidence | LEADER | 19.6/35 Revenue 25% · PAT -80% · OPM change -997 pp 74% evidence | 2.3/25 ROCE -79.5% · OPM — 84% evidence | 10.0/20 P/E — · PEG — 0% evidence | 15.9/20 RS sector 4.2% · RS bench 52% · 1Y 49.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.6 + 2.3 + 10 + 15.9 = 47.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Kilitch Drugs (India) LtdKILITCH | 47.0/100Mixed-negative evidence87% evidence | TURNING | 11.5/35 Revenue 14% · PAT 9.3% · OPM change -1 pp 95% evidence | 9.4/25 ROCE 13.4% · OPM 6.5% 95% evidence | 14.4/20 P/E 26.1× · PEG — 50% evidence | 11.7/20 RS sector -13.3% · RS bench 33.1% · 1Y 24.6%8 of 12 weeks ahead 100% evidence |
| Exact sum: 11.5 + 9.4 + 14.4 + 11.7 = 47 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 24Jagsonpal Pharmaceuticals LtdJAGSNPHARM | 46.9/100Mixed-negative evidence87% evidence | LEADER | 12.7/35 Revenue 3.2% · PAT -24.6% · OPM change 2 pp 95% evidence | 16.8/25 ROCE 22.7% · OPM 21% 95% evidence | 11.7/20 P/E 34× · PEG — 50% evidence | 5.7/20 RS sector -21.3% · RS bench 20% · 1Y -0.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 12.7 + 16.8 + 11.7 + 5.7 = 46.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25J B Chemicals & Pharmaceuticals LtdJBCHEPHARM | 44.3/100Mixed-negative evidence96% evidence | 9.3/35 Revenue 5.9% · PAT 7.4% · OPM change -2 pp 88% evidence | 20.9/25 ROCE 25.4% · OPM 22% 100% evidence | 4.3/20 P/E 53.8× · PEG 2.34 100% evidence | 9.8/20 RS sector -8.2% · RS bench 23.5% · 1Y 40.5%2 of 2 weeks ahead to 2026-07-19 100% evidence | |
| Exact sum: 9.3 + 20.9 + 4.3 + 9.8 = 44.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 26Gufic BioSciences LtdGUFICBIO | 41.6/100Mixed-negative evidence94% evidence | BREAKING OUT | 20.7/35 Revenue 16.6% · PAT 17.7% · OPM change 3 pp 100% evidence | 10.1/25 ROCE 12.3% · OPM 18% 100% evidence | 3.5/20 P/E 57.9× · PEG 4.78 100% evidence | 7.3/20 RS sector -21.1% · RS bench 26.1% · 1Y 14.5%12 of 12 weeks ahead 70% evidence |
| Exact sum: 20.7 + 10.1 + 3.5 + 7.3 = 41.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 27Alembic Pharmaceuticals LtdAPLLTD | 41.4/100Mixed-negative evidence94% evidence | BREAKING OUT | 14.1/35 Revenue 14.1% · PAT 14.6% · OPM change -1 pp 100% evidence | 8.8/25 ROCE 12.6% · OPM 15% 100% evidence | 13.2/20 P/E 22.8× · PEG 1.74 100% evidence | 5.3/20 RS sector -26.6% · RS bench 9.7% · 1Y -9.9%6 of 12 weeks ahead 70% evidence |
| Exact sum: 14.1 + 8.8 + 13.2 + 5.3 = 41.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 28Aurobindo Pharma LtdAUROPHARMA | 39.8/100Mixed-negative evidence100% evidence | LEADER | 14.6/35 Revenue 9.1% · PAT 9.5% · OPM change 1 pp 100% evidence | 12.7/25 ROCE 12.9% · OPM 21% 100% evidence | 6.0/20 P/E 26× · PEG 2.67 100% evidence | 6.5/20 RS sector -14.7% · RS bench 28.4% · 1Y 53%10 of 12 weeks ahead 100% evidence |
| Exact sum: 14.6 + 12.7 + 6 + 6.5 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 29Bafna Pharmaceuticals LtdBAFNAPH | 39.2/100Mixed-negative evidence60% evidence | BREAKING OUT | 11.1/35 Revenue -3.1% · PAT -5.8% · OPM change -11.3 pp 95% evidence | 7.3/25 ROCE 11.9% · OPM 3.4% 76% evidence | 8.6/20 P/E 106× · PEG — 15% evidence | 12.2/20 RS sector — · RS bench 107.9% · 1Y —5 of 5 weeks ahead 25% evidence |
| Exact sum: 11.1 + 7.3 + 8.6 + 12.2 = 39.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 30Indoco Remedies LtdINDOCO | 38.2/100Thin evidence · provisional58% evidence | BREAKING OUT | 18.9/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 71% evidence | 4.3/25 ROCE 1% · OPM 9% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 5.0/20 RS sector -34.4% · RS bench 12.5% · 1Y -15.7%8 of 11 weeks ahead 70% evidence |
| Exact sum: 18.9 + 4.3 + 10 + 5 = 38.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 31Bharat Parenterals LtdBPLPHARMA | 35.7/100Thin evidence · provisional58% evidence | 11.6/35 Revenue -11.2% · PAT 16% · OPM change -2.8 pp 71% evidence | 4.0/25 ROCE -1.9% · OPM 9.1% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 10.1/20 RS sector -13.5% · RS bench 54.8% · 1Y 44.1%1 of 12 weeks ahead 70% evidence | |
| Exact sum: 11.6 + 4 + 10 + 10.1 = 35.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 32Torrent Pharmaceuticals LtdTORNTPHARM | 35.5/100Mixed-negative evidence100% evidence | LEADER | 15.3/35 Revenue 32.9% · PAT 7.7% · OPM change 2 pp 100% evidence | 14.9/25 ROCE 15.2% · OPM 34% 100% evidence | 1.0/20 P/E 85× · PEG 5.11 100% evidence | 4.3/20 RS sector -21.1% · RS bench 19.6% · 1Y 37.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 15.3 + 14.9 + 1 + 4.3 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 33Zim Laboratories LtdZIMLAB | 34.5/100Adverse evidence79% evidence | LEADER | 8.7/35 Revenue 7.5% · PAT -60.6% · OPM change -3.3 pp 71% evidence | 6.2/25 ROCE 4.8% · OPM 2.6% 95% evidence | 6.3/20 P/E 201× · PEG — 50% evidence | 13.3/20 RS sector 6% · RS bench 56.4% · 1Y 83%11 of 12 weeks ahead 100% evidence |
| Exact sum: 8.7 + 6.2 + 6.3 + 13.3 = 34.5 · Decision use: Price leads the evidence: RS versus the benchmark is 56.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 34Jubilant Pharmova LtdJUBLPHARMA | 33.7/100Adverse evidence93% evidence | TURNING | 8.7/35 Revenue 16.3% · PAT -23% · OPM change -4 pp 100% evidence | 5.8/25 ROCE 9% · OPM 11% 100% evidence | 13.4/20 P/E 44× · PEG 1.17 65% evidence | 5.8/20 RS sector -27.9% · RS bench 11.8% · 1Y -2.7%5 of 12 weeks ahead 100% evidence |
| Exact sum: 8.7 + 5.8 + 13.4 + 5.8 = 33.7 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Ajanta Pharma Ltd's share price today?
Ajanta Pharma Ltd trades at ₹3,548, +43.9% over the past year. The company is valued at ₹44,333 Cr. The stock sits at 89% of its 52-week range of ₹2,486–₹3,673, +12.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 38 weeks in. — as of 25 September 2026.
What were Ajanta Pharma Ltd's latest quarterly results?
Ajanta Pharma Ltd reported revenue of ₹1,626 Cr and net profit of ₹334 Cr for the Jun 26 quarter. Revenue rose 24.8% and profit rose 31.0% year on year. Earnings per share were ₹26.75. The operating margin was 26.0%, 1.0 pp lower than a year earlier. — as of 25 September 2026.
What is Ajanta Pharma Ltd's revenue?
Ajanta Pharma Ltd reported revenue of ₹1,626 Cr in the Jun 26 quarter, +24.8% year on year. For the full FY26 fiscal year, revenue was ₹5,453 Cr (+17.3%). Over the last 10 years revenue compounded at 12.0% a year. — as of 25 September 2026.
What is Ajanta Pharma Ltd's profit?
Ajanta Pharma Ltd earned ₹334 Cr of net profit in the Jun 26 quarter, +31.0% year on year — the 12th straight quarter of growth. Full-year FY26 profit was ₹1,056 Cr. The operating margin ran 26.0% in the latest quarter. — as of 25 September 2026.
What is Ajanta Pharma Ltd's market cap?
Ajanta Pharma Ltd's market capitalisation is ₹44,333 Cr at a share price of ₹3,548. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 25 September 2026.
What is Ajanta Pharma Ltd's P/E ratio?
Ajanta Pharma Ltd trades at a P/E of 39.1×, at the 94th percentile of its own 11-year range, against a long-run median of 28.1×. This is a comparison with the stock's own history, not a value call — as of 25 September 2026.
Does Ajanta Pharma Ltd pay a dividend?
Yes — Ajanta Pharma Ltd's dividend payout was 33% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 25 September 2026.
Is Ajanta Pharma Ltd overvalued?
On its own history, Ajanta Pharma Ltd looks expensive: its P/E of 39.1× sits at the 94th percentile of its 11-year range (long-run median 28.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 25 September 2026.
Is Ajanta Pharma Ltd growing?
Yes — Ajanta Pharma Ltd is growing: latest-quarter revenue +24.8% year on year, profit +31.0%, and the margin −1.0 pp at 26.0%. The 10-year compound rates are 12.0% (revenue) and 9.8% (profit). The earnings engine currently reads: improving — as of 25 September 2026.
How is Ajanta Pharma Ltd performing?
Ajanta Pharma Ltd is in a confirmed uptrend, 38 weeks in. Its latest quarter's revenue rose 24.8% and profit rose 31.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 20 weeks. This describes what the data did, not a rating. — as of 25 September 2026.
What stage is Ajanta Pharma Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 31.8% and holding. The read comes from the last 12 quarters of growth (revenue growth +20.2% latest, profit growth +22.2% latest, eps growth +22.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 25 September 2026.
Is Ajanta Pharma Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 38 of stage 2), trading +12.4% versus its 200-day average and at 89% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 25 September 2026.
Is Ajanta Pharma Ltd beating the market?
On recent form, yes — Ajanta Pharma Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.6 years the stock moved +313% against the NIFTY 500's +268% — ahead of the index over the full window. — as of 25 September 2026.
Will Ajanta Pharma Ltd's share price go up?
This page publishes no price forecast for Ajanta Pharma Ltd. What it measures instead: the share price is ₹3,548, the price is in a confirmed uptrend 38 weeks in. Its P/E of 39.1× sits at the 94th percentile of its own 11-year range. — as of 25 September 2026.
Who owns Ajanta Pharma Ltd?
Promoters hold 63.5% of Ajanta Pharma Ltd, foreign institutions 7.7%, domestic institutions 21.8% and the public 7.0% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 4.4 points over 8 quarters. — as of 25 September 2026.
Does Ajanta Pharma Ltd have too much debt?
No — Ajanta Pharma Ltd's debt-to-equity is 0.06, and operating profit covers the interest bill 94×. FY26 borrowings were ₹260 Cr against equity of ₹4,527 Cr. The returns on this page are earned, not borrowed — as of 25 September 2026.
What is Ajanta Pharma Ltd's capex?
Ajanta Pharma Ltd spent ₹872 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹360 Cr, with ₹258 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 25 September 2026.
What is Ajanta Pharma Ltd's cash flow?
Ajanta Pharma Ltd generated ₹529 Cr of operating cash flow in FY26 and ₹169 Cr of free cash flow after ₹360 Cr of capital spending. Reported profit that year was ₹1,056 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 25 September 2026.
Is Ajanta Pharma Ltd's profit real cash?
Yes — over the last 3 fiscal years, 89% of Ajanta Pharma Ltd's reported profit arrived as operating cash. Though the latest year ran at 50% — the trend is the thing to watch. In FY26, operating cash was ₹529 Cr against reported profit of ₹1,056 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 25 September 2026.
Where is Ajanta Pharma Ltd in its business cycle?
Ajanta Pharma Ltd's FY26 operating margin was 28.0%, against a 13-year band of 22.0%–35.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 26.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 25 September 2026.
What growth does Ajanta Pharma Ltd's price assume?
At its price on 26 August 2026, Ajanta Pharma Ltd was priced for profit growth of about 22.1% a year. Profit itself has compounded 9.8% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 25 September 2026.
What could break the Ajanta Pharma Ltd story?
The sharpest disagreement: the price moved +43.9% in a year while annual EPS moved +14.7% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 25 September 2026.
Is Ajanta Pharma Ltd a stock worth studying right now?
This is not investment advice. The machine read: Ajanta Pharma Ltd's price has outrun its earnings. +43.9% in a year against EPS +14.7% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 25 September 2026.
Not SEBI Registered !! Not Investment advice !!