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Revenue
₹1,422 Cr
verified against source
Revenue YoY
21%
reported change
EBITDA
₹333 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 Q4 FY26 with revenue of INR 1,422 crore (+21% YoY) and PAT of INR 267 crore (+18% YoY), driven by stellar US generics growth (+56% YoY) and Africa branded generics (+37% YoY). The India business grew 9% in Q4, while Asia declined 10% due to Middle East supply chain disruptions. For FY27, management guides for high-teens revenue growth and EBITDA margin of ~27% (vs 26% in FY26), with US generics expected to moderate to mid-single-digit growth. Key risks include prolonged Middle East conflict impacting raw material and freight costs, and potential FDA action at the Paithan facility following a Form 483 with 5 observations.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects overall revenue growth in the high-teens range, driven by recovery in Asia and Africa, while US generics moderate.
- EBITDA margin guidance of 27% ±1%, factoring in investments in MR additions, R&D, and higher freight/raw material costs from Middle East conflict.
- Capex includes INR 150 crore maintenance and INR 250 crore for capacity expansion at existing sites.
- US generics expected to grow at mid-single digits due to high base and seasonal flu product impact; 4-5 new launches planned in H2.
Risks flagged
- Prolonged conflict could increase raw material and freight costs, which management expects to absorb for 2-3 months but may pressure margins beyond.
- Five observations received; potential escalation could impact US filings or existing product supplies if not resolved satisfactorily.
- Asia declined 10% in Q4 due to logistics disruptions; while management expects high double-digit growth, demand normalization is unproven.
- Pledge by two promoter brothers for unrelated businesses has risen; though management says it's not company-related, it could signal personal financial stress.
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 remain confident of maintaining EBITDA margin of 27% with a variation of ±1% in the coming year as well, while making further investment in developing our market.
- 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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