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Revenue
₹1,422 Cr
verified against source
Revenue YoY
21%
reported change
EBITDA
₹333 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Ajanta Pharma delivered a strong Q4 FY26 with revenue of ₹1,422 crore (+21% YoY) and PAT of ₹267 crore (+18% YoY). Full-year revenue surpassed ₹5,000 crore for the first time, driven by stellar US generics growth (+56% YoY in Q4) and robust India branded business (+14% FY26). EBITDA margin at 23% was impacted by mark-to-market forex losses of ₹42 crore; adjusted margins remain healthy. Management guided for FY27 revenue growth of 16-18% and EBITDA margin of 27% ±1%, factoring in Middle East supply chain disruptions and higher freight costs. Key growth drivers include high double-digit growth in Asia and Africa branded generics, mid-single-digit US growth, and continued India outperformance. Risk: Prolonged Middle East conflict could further inflate logistics costs and pressure margins.
Colored figures show movement against the previous available record.
Guidance to track
- Overall company revenue expected to grow 16-18% in FY27, driven by high double-digit growth in Asia and Africa branded generics, mid-single-digit US growth, and India outperformance.
- Management guided EBITDA margin of 27% with a variation of plus/minus 1%, factoring in investments, higher freight costs, and R&D spending.
- Capital expenditure expected to increase to around ₹400 crore, including ₹150 crore maintenance and ₹250 crore for capacity expansion.
- Tax rate expected to increase as one manufacturing facility transitions out of exemption period.
Risks flagged
- Geopolitical tensions have increased freight costs and transit times; if prolonged, could impact Asia business recovery and margins.
- Five observations received; while management expects no immediate impact, any escalation could affect filings or existing product supplies.
- Both markets are tender-driven and competitive; management factors erosion into guidance but unexpected acceleration could pressure margins.
- Two promoter brothers have increased borrowing against shares for their own businesses, though no pledge on Ajanta shares; could raise governance concerns.
Key quotes
- Our revenue from operations grew by 21%. While margins grew by 18%. Reflecting strong operating performance alongside continued investments to support future growth.
- We are looking at a mid single digit growth for the US business considering that for the whole year we have delivered a extremely robust growth of 49%.
- Our new product contribution within that is 4.7% out of 13%. As against the industry which stands at 2.8% out of 10%.
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