The formulation company has impressed with 66% and 26% rise in net profit and sales, respectively while it has filed another ANDA during the quarter, taking the tally to 15
Ajanta Pharma Ltd, a specialty focused pharmaceutical formulation company, announced 66% rise in its first quarter net profit to Rs33 crore from Rs20 crore a year ago, driven by robust exports and consistent sales across geographies. The company’s revenue from operations stood at Rs219 crore for the three month period ending 30 June 2013, 26% higher compared with same period last year.
According to Moneylife database, the company’s market capitalisation is valued at 13.09 times operating profit while its return on networth stood at 32%.
Commenting on the results, Yogesh Agrawal, managing director, said, “Our sustained performance quarter after quarter reflects the result of our undivided commitment towards brand building leading to sustained business. We have been able to build a strong brand equity across geographies—India and overseas in branded generic space.”
During the quarter, Ajanta Pharmaceuticals filed one more abbreviated new drug application (ANDA) with United States Food and Drug Administration (USFDA), taking the total to 15 ANDAs (2 approved and 13 waiting for approval).
On the occasion of completing 40 years of ‘Serving Global Health Care Needs’, the company’s board has recommended issue of bonus shares in the ratio of one share for every two shares held.
We had recommended the stock last year, on 4 May 2012, to our Stockletters subscribers, at Rs272.
Ajanta Pharma closed Monday at Rs993 on the BSE, down 2.91%, while the 30-share Sensex ended marginally down at 19,593..
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