AJANTA PHARMA Ltd (AJANTPHARM) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.22%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 7.7%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 27.1%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 11 Nov 2026

50-Day DMA ● Overlay

₹3,210.56

200-Day DMA ● Overlay

₹2,977.67

14-Day RSI ● Overlay

52.8 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹44,748 Cr

Large cap

Stock P/E (TTM) Valuation

39.4x

Price / EPS

Book Value (₹) Assets

₹362.0

P/B: 9.9x

ROE (%) Quality

27.1%

Net Profit / Equity

ROCE (%) Efficiency

34.5%

EBIT / Capital

Dividend Yield Yield

0.89%

Face Value: ₹10

Debt / Equity Solvency

0.06x

Low Debt

EPS (TTM) Per Share

₹91.02

Trailing 12M

OPM (%) Spread

25.0%

EBITDA Margin

Free Cash Flow Cash

₹169.00 Cr

CFO - Capex

About AJANTA PHARMA Ltd

AJANTA PHARMA Ltd (AJANTPHARM) is an Indian publicly traded enterprise listed on the National Stock Exchange (NSE).

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 18% × Turnover: 0.85x × Leverage: 1.06x = ROE: 27.1%

✓ Company Strengths (Pros)

• Company has maintained a healthy low debt-to-equity ratio of 0.06.
• Company has a stellar track record of return on equity (ROE of 27.1%).

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 9.9x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹5,776 Cr

Latest PAT

₹1,135 Cr

EPS (TTM)

₹91.02

OPM %

25.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹1,021 Cr	₹1,028 Cr	₹1,105 Cr	₹1,054 Cr	₹1,145 Cr	₹1,187 Cr	₹1,146 Cr	₹1,170 Cr	₹1,303 Cr	₹1,354 Cr	₹1,375 Cr	₹1,422 Cr	₹1,626 Cr
Operating Profit (EBITDA)	₹271.00 Cr	₹291.00 Cr	₹314.00 Cr	₹278.00 Cr	₹330.00 Cr	₹311.00 Cr	₹321.00 Cr	₹297.00 Cr	₹351.00 Cr	₹328.00 Cr	₹382.00 Cr	₹333.00 Cr	₹424.00 Cr
OPM %	27.0%	28.0%	28.0%	26.0%	29.0%	26.0%	28.0%	25.0%	27.0%	24.0%	28.0%	23.0%	26.0%
Interest Expense	₹1.00 Cr	₹2.00 Cr	₹2.00 Cr	₹2.00 Cr	₹1.00 Cr	₹6.00 Cr	₹8.00 Cr	₹6.00 Cr	₹5.00 Cr	₹3.00 Cr	₹5.00 Cr	₹2.00 Cr	₹3.00 Cr
Depreciation	₹33.00 Cr	₹34.00 Cr	₹34.00 Cr	₹34.00 Cr	₹34.00 Cr	₹34.00 Cr	₹36.00 Cr	₹40.00 Cr	₹41.00 Cr	₹43.00 Cr	₹44.00 Cr	₹45.00 Cr	₹44.00 Cr
Profit before Tax (PBT)	₹269.00 Cr	₹276.00 Cr	₹291.00 Cr	₹278.00 Cr	₹322.00 Cr	₹290.00 Cr	₹307.00 Cr	₹269.00 Cr	₹331.00 Cr	₹341.00 Cr	₹359.00 Cr	₹347.00 Cr	₹447.00 Cr
Net Profit (PAT)	₹208.00 Cr	₹195.00 Cr	₹210.00 Cr	₹203.00 Cr	₹246.00 Cr	₹216.00 Cr	₹233.00 Cr	₹225.00 Cr	₹255.00 Cr	₹260.00 Cr	₹274.00 Cr	₹267.00 Cr	₹334.00 Cr
EPS in ₹	₹16.24	₹15.24	₹16.39	₹15.82	₹19.68	₹17.33	₹18.64	₹18.03	₹20.44	₹20.83	₹21.91	₹21.35	₹26.75

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹1,474 Cr	₹1,749 Cr	₹1,983 Cr	₹2,126 Cr	₹2,055 Cr	₹2,588 Cr	₹2,890 Cr	₹3,341 Cr	₹3,743 Cr	₹4,209 Cr	₹4,648 Cr	₹5,453 Cr	₹5,776 Cr
Expenses	₹968.00 Cr	₹1,155 Cr	₹1,292 Cr	₹1,467 Cr	₹1,489 Cr	₹1,904 Cr	₹1,889 Cr	₹2,408 Cr	₹2,934 Cr	₹3,037 Cr	₹3,379 Cr	₹3,953 Cr	₹4,309 Cr
Operating Profit	₹505.00 Cr	₹594.00 Cr	₹691.00 Cr	₹658.00 Cr	₹567.00 Cr	₹683.00 Cr	₹1,001 Cr	₹933.00 Cr	₹808.00 Cr	₹1,172 Cr	₹1,269 Cr	₹1,500 Cr	₹1,467 Cr
OPM %	34%	34%	35%	31%	28%	26%	35%	28%	22%	28%	27%	28%	25%
Interest	₹6.00 Cr	₹5.00 Cr	₹1.00 Cr	₹0 Cr	₹1.00 Cr	₹12.00 Cr	₹8.00 Cr	₹10.00 Cr	₹6.00 Cr	₹7.00 Cr	₹21.00 Cr	₹16.00 Cr	₹14.00 Cr
Depreciation	₹52.00 Cr	₹44.00 Cr	₹61.00 Cr	₹60.00 Cr	₹72.00 Cr	₹96.00 Cr	₹116.00 Cr	₹125.00 Cr	₹131.00 Cr	₹135.00 Cr	₹144.00 Cr	₹173.00 Cr	₹176.00 Cr
Profit before Tax	₹456.00 Cr	₹559.00 Cr	₹648.00 Cr	₹623.00 Cr	₹514.00 Cr	₹664.00 Cr	₹900.00 Cr	₹909.00 Cr	₹745.00 Cr	₹1,114 Cr	₹1,189 Cr	₹1,378 Cr	₹1,493 Cr
Net Profit	₹310.00 Cr	₹416.00 Cr	₹507.00 Cr	₹469.00 Cr	₹387.00 Cr	₹468.00 Cr	₹654.00 Cr	₹713.00 Cr	₹588.00 Cr	₹816.00 Cr	₹920.00 Cr	₹1,056 Cr	₹1,135 Cr
EPS in Rs	23.47	31.49	38.40	35.50	29.56	35.73	50.38	55.63	45.89	63.70	73.68	84.52	90.84

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹18.00 Cr	₹18.00 Cr	₹18.00 Cr	₹18.00 Cr	₹18.00 Cr	₹18.00 Cr	₹17.00 Cr	₹17.00 Cr	₹25.00 Cr	₹25.00 Cr	₹25.00 Cr	₹25.00 Cr
Reserves & Surplus	₹823.00 Cr	₹1,173 Cr	₹1,550 Cr	₹2,024 Cr	₹2,228 Cr	₹2,581 Cr	₹2,978 Cr	₹3,247 Cr	₹3,363 Cr	₹3,542 Cr	₹3,765 Cr	₹4,502 Cr
Borrowings (Debt)	₹72.00 Cr	₹81.00 Cr	₹1.00 Cr	₹2.00 Cr	₹36.00 Cr	₹75.00 Cr	₹31.00 Cr	₹25.00 Cr	₹36.00 Cr	₹35.00 Cr	₹47.00 Cr	₹260.00 Cr
Total Liabilities	₹1,146 Cr	₹1,479 Cr	₹1,823 Cr	₹2,426 Cr	₹2,664 Cr	₹3,293 Cr	₹3,729 Cr	₹4,000 Cr	₹4,582 Cr	₹4,530 Cr	₹4,904 Cr	₹6,037 Cr
Fixed Assets	₹288.00 Cr	₹451.00 Cr	₹589.00 Cr	₹1,053 Cr	₹1,178 Cr	₹1,472 Cr	₹1,541 Cr	₹1,512 Cr	₹1,496 Cr	₹1,479 Cr	₹1,762 Cr	₹1,867 Cr
Total Assets	₹1,146 Cr	₹1,479 Cr	₹1,823 Cr	₹2,426 Cr	₹2,664 Cr	₹3,293 Cr	₹3,729 Cr	₹4,000 Cr	₹4,582 Cr	₹4,530 Cr	₹4,904 Cr	₹6,037 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹279.00 Cr	₹326.00 Cr	₹609.00 Cr	₹281.00 Cr	₹375.00 Cr	₹457.00 Cr	₹576.00 Cr	₹562.00 Cr	₹792.00 Cr	₹785.00 Cr	₹1,157 Cr	₹529.00 Cr
Cash from Investing (CFI)	-₹158.00 Cr	-₹209.00 Cr	-₹383.00 Cr	-₹256.00 Cr	-₹223.00 Cr	-₹224.00 Cr	-₹282.00 Cr	-₹74.00 Cr	-₹560.00 Cr	₹65.00 Cr	-₹377.00 Cr	-₹429.00 Cr
Cash from Financing (CFF)	-₹105.00 Cr	-₹117.00 Cr	-₹202.00 Cr	₹0 Cr	-₹147.00 Cr	-₹129.00 Cr	-₹318.00 Cr	-₹460.00 Cr	-₹108.00 Cr	-₹1,051 Cr	-₹733.00 Cr	-₹168.00 Cr
Free Cash Flow (FCF)	₹176.00 Cr	₹29.00 Cr	₹313.00 Cr	₹19.00 Cr	₹32.00 Cr	₹228.00 Cr	₹417.00 Cr	₹431.00 Cr	₹618.00 Cr	₹646.00 Cr	₹840.00 Cr	₹169.00 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	64	78	59	79	82	109	93	111	103	108	93	124
Inventory Days	159	180	186	315	415	276	434	347	283	283	308	289
Cash Conversion Cycle (Days)	114	130	88	170	282	184	315	315	240	233	246	246
ROCE %	57%	52%	46%	34%	24%	27%	32%	29%	23%	32%	32%	35%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,390.12 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹3,327.00

DCF Fair Value

₹1,390.12

Graham Number

₹861.02

Margin of Safety

-65.4%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,390.12

Premium / Overvalued (Margin: -65.4%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹1,353	₹1,340	₹1,328	₹1,317
10%	₹1,378	₹1,365	₹1,353	₹1,341
12%	₹1,403	₹1,390	₹1,378	₹1,365
14%	₹1,428	₹1,415	₹1,402	₹1,390

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,390	Fairly Valued
Benjamin Graham Number	₹861	Market Priced
Historical Sector P/E	₹2,002	Premium
EV / EBITDA Multiplier	₹3,493	In-Line
Free Cash Flow Yield Model	₹3,260	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 9/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

9 / 9 Pass

Altman Z-Score

6.23 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.06x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 25.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

63.49%

FIIs (Foreign)

7.68%

DIIs (Domestic)

21.80%

Government

0.15%

Public / Retail

7.03%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	66.22%	66.22%	66.22%	66.27%	66.26%	66.26%	66.26%	66.26%	66.25%	66.25%	66.25%	63.49%
+ FIIs (Foreign Portfolio)	9.99%	9.11%	8.54%	8.36%	9.11%	9.26%	8.86%	8.86%	8.53%	7.97%	8.26%	7.68%
+ DIIs (Mutual Funds / Insurance)	15.60%	16.67%	17.48%	17.41%	17.09%	17.02%	17.48%	17.50%	17.90%	18.58%	18.36%	21.80%
+ Public (Retail & HNIs)	8.21%	8.00%	7.76%	7.94%	7.51%	7.45%	7.38%	7.38%	7.32%	7.20%	7.14%	7.03%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Healthcare & Pharma.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

AJANTPHARM Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

AJANTPHARM Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

AJANTPHARM Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹4,258.56

Accelerated market share capture in Healthcare & Pharma, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹3,726.24

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 39x P/E.

🐻 Bear Case (15%) -12.0%

₹2,927.76

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Healthcare & Pharma)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 21:44 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ AJANTA PHARMA Ltd (AJANTPHARM)	Target Stock	₹3,327.00	+0.22%	39.4x	27.1%	34.5%	0.06	₹44,748 Cr
Sun Pharmaceutical Industries Ltd (SUNPHARMA)	Specialty Pharma & Generics	₹1,885.00	-0.91%	34.2x	16.0%	20.5%	0.06	₹4.32 Lakh Cr
Divis Laboratories Ltd (DIVISLAB)	API & Custom Synthesis	₹11,485.00	+1.04%	82.4x	16.5%	22.0%	0.00	₹2.46 Lakh Cr
Torrent Pharmaceuticals Ltd (TORNTPHARM)	Sector Peer	₹4,727.20	-0.71%	86.1x	27.6%	19.8%	1.69	₹1.81 Lakh Cr
Apollo Hospitals Enterprise Ltd (APOLLOHOSP)	Hospital Chains & Apollo 24/7	₹8,515.00	-1.03%	53.9x	21.2%	17.4%	0.90	₹1.13 Lakh Cr
LAURUS LABS Ltd (LAURUSLABS)	Healthcare & Pharma Operations	₹2,400.00	-1.19%	99.7x	18.3%	17.8%	0.48	₹1.09 Lakh Cr
Cipla Ltd (CIPLA)	Respiratory & Generic Medicine	₹1,408.30	-0.82%	30.2x	11.6%	15.5%	0.02	₹1.08 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	21:44:41 IST	✓ Live Sync
Financial Statements (10Y)	AJANTA PHARMA Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	12 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	12 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	12 Nov 2026	✓ Deterministic

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TickerPulse Academy

AJANTA PHARMA Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About AJANTA PHARMA Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Healthcare & Pharma)

Metric Explainer

Stock DNA Methodology

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