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Revenue
₹1,145 Cr
verified against source
Revenue YoY
12%
reported change
EBITDA
₹330 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Ajanta Pharma delivered a strong Q1 FY25 with revenue of INR 1,145 crore (+12% YoY) and EBITDA of INR 330 crore (+22% YoY), driven by branded generics growth of 17%. Africa branded business rebounded sharply (+45% YoY) aided by a low base and spillover from Q4. India business grew 8.9%, outpacing IPM by 130 bps. EBITDA margin expanded to 29% (vs 27% in Q4 FY24) due to favorable mix and lower expenses. Management guided for low-teens revenue growth in FY25, with branded generics mid-teens, US mid-single-digit, and Africa institutional degrowth. EBITDA margin is expected to sustain around 29% ±1%. Key risk: Africa institutional business remains unpredictable due to reliance on procurement schedules.
Colored figures show movement against the previous available record.
Guidance to track
- Overall revenue expected to grow in low teens, with branded generics mid-teens, US mid-single digit, and Africa institutional degrowth.
- EBITDA margin expected to remain in the range of 28-30% for the full year, supported by stable gross margins and controlled expenses.
- Capital expenditure for FY25 estimated at INR 175 crore, including maintenance capex.
- Target to file 8-12 ANDAs in the current fiscal year, with launches skewed towards Q3 and Q4.
Risks flagged
- Africa institutional revenue fell 36% YoY due to procurement schedule shifts; management noted this business remains unpredictable.
- Management expects an adverse impact of INR 30 crore in freight costs for FY25 compared to FY24, assuming current rates persist.
- US generic price erosion remains stable but at high single digits, which could pressure margins if competition intensifies.
- Q1 employee costs included a one-time INR 30 crore gratuity policy change; while normalized in subsequent quarters, it highlights potential for future policy-driven cost increases.
Key quotes
- Our EBITDA margins expanded to 29%, reflecting our commitment to operational excellence and efficiency.
- We expect the EBITDA to be around this range, ±1%, for whole of 2025.
- We are rather focusing on increasing the productivity for that. That is really the focus for us for the last few years.
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