Ajanta Pharma - Investments In Branded Generics Added Certainty, Scalability, Sustainability: Dolat Capital

Dolat Capital Report

Ajanta Pharma Ltd.’s FY24 annual report analysis suggests significant improvement in financial performance with 12% growth in consolidated revenue from operations at Rs 42.1 billion against Rs 37.4 billion in FY23 and 50% growth in Ebitda at Rs. 11.7 billion against 7.83 billion in FY23.

Ebitda as % to revenue stood at 28% which is among the best in the industry, while profit after tax grew by 19% and came at Rs 8.2 billion against 16% growth in FY23 at Rs 5.9 billion.

During the year, branded generics business was the primary contributor to the total sales accounting for 71% of the revenue with 31% coming from India, 25% from Asia and 15% from Africa. Africa institutional business with 6% and U.S. generics made up the rest of the sales.

The company significantly increased investment in its branded generics business by accelerating product filings and expanding its ground presence, leading to a boost in margins due to the enhanced contribution of this segment and normalization of freight costs.

This strategic move added certainty, scalability, and sustainability to the overall business.

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