AJANTPHARM / Q2-FY24 / claim-ledger

Audit the questions that mattered.

Ajanta Pharma · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY24 · 2023-11-10Back to quarter ↗

Questions audited

12

Answered directly

54%

Numeric claims

3

Consistency

contradicted

Question ledger

What was answered, and how?

Yash Korenka · Awriga Capital Advisors LLP

partial

Outlook for US business in next 3-5 years given reduced capital allocation but 22% H1 sales growth.

So U.S. business, the market landscape is changing... Our outlook remains to be filing around eight ANDAs ± going forward for next two to three years... the market should probably hopefully remain at the similar level of the price erosion, and it's more stabilized.

Rashmi Shetty · Dolat Capital

partial

Will R&D expenses remain at 5% of sales or increase in H2?

It will depend... we expect this to little go up, you know, not much, but maybe it may go little up.

Rashmi Shetty · Dolat Capital

direct

Will FY24 R&D guidance be below 6%?

Yes, absolutely right.

Rashmi Shetty · Dolat Capital

evasive

Will other expenses increase in Q3/Q4 and by how much?

Honestly, that much granularity I will not be able to give you now. But what I can only say is that it will be little higher as compared to what we have seen this trend in the last two quarters.

Rashmi Shetty · Dolat Capital

direct

Will EBITDA margin guidance be upgraded from 25%?

Yes, that's what I mentioned in my call just now, that, we are expecting now to be around 26%.

Rashmi Shetty · Dolat Capital

evasive

What EBITDA margin expansion expected in FY25/26?

Will be difficult to give you the number as such. One thing which we can only say is that it will improve, certainly.

Rashmi Shetty · Dolat Capital

direct

Is Africa branded business guidance of high single digit growth maintained?

Africa, we are seeing the revival. I think we will bounce back to the growth. So for the whole year, we are very optimistic to post low teen growth.

Harsh Bhatia · Bandhan AMC

direct

Bifurcation of India growth into volume, price, new introductions for Q2.

Only the volume has grown three years. So the industry has grown at 2%, we have grown at 6% in terms of volume. ... price is 5%, and the volume for industry is 2%, ours is 6%.

Harsh Bhatia · Bandhan AMC

partial

Is Q2 US sales a relevant base for next quarters, excluding Chantix?

I think, we should be able to deliver the numbers on the current quarter basis going forward for next, rest of the year.

Abdul Kader Puranwala · ICICI Securities

evasive

Quantify spillover in Asia branded business from Q2 to Q3.

No, unfortunately, I can't give exact data number, but you can do the math. It's not very difficult.

Bharat Celly · Equirus Securities

direct

What price erosion level in US base portfolio currently?

High single digit is what we are seeing, and we would like to believe it would remain in the similar vicinity going forward also.

Kunal Sharma · Nuvama

evasive

Structural shift or softening in Indian branded pharma market due to trade generics?

Very hard to say that, because we don't have any kind of data to prove it. It may be happening, but at a very negligible or minuscule level, this is my presumption.