External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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<ul><li>Ajanta Pharma is a focused player in branded, which constitutes ~72% of overall sales, spread across geographies including India.</li><li>As of Q2FY23, overall exports: domestic formulations ratio was at 66:34</li><li>Among exports, Asia accounts for ~41% of export formulations, Africa 29% and US 30%.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Ajanta Pharma is a focused player in branded, which constitutes ~72% of overall sales, spread across geographies including India.As of Q2FY23, overall exports: domestic formulations ratio was at 66:34Among exports, Asia accounts for ~41% of export formulations, Africa 29% and US 30%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ajanta Pharmaceuticals - Margins Weak but Branded Generics Outlook Strong…

<ul><li>Ajanta Pharma is a focused player in branded, which constitutes ~70% of the overall sales which are spread across geographies including India</li><li>As of FY21, overall exports: domestic formulations ratio was at 70:30</li><li>Target Price and Valuation: Valued at | 2605 i.e. 26x P/E on FY24E EPS of Rs 100.1</li></ul><div class="content-highlight"><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p></div>

Ajanta Pharma is a focused player in branded, which constitutes ~70% of the overall sales which are spread across geographies including IndiaAs of FY21, overall exports: domestic formulations ratio was at 70:30Target Price and Valuation: Valued at | 2605 i.e. 26x P/E on FY24E EPS of Rs 100.1Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ajanta Pharmaceuticals: Momentum in Branded Business Buoys Numbers

<p>About the stock: Ajanta Pharma is a focused player in branded, which constitutes ~70% of overall sales, which are spread across geographies, including India.</p><ul><li>As of FY21, overall exports: domestic formulations ratio was at 70:30</li><li>Among exports, Asia accounts for ~35% of export formulations, Africa 33% &amp; US 32%. The company also participates in anti-malarial tenders in Africa (included in Africa)</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: Ajanta Pharma is a focused player in branded, which constitutes ~70% of overall sales, which are spread across geographies, including India.As of FY21, overall exports: domestic formulations ratio was at 70:30Among exports, Asia accounts for ~35% of export formulations, Africa 33% &amp; US 32%. The company also participates in anti-malarial tenders in Africa (included in Africa)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ajanta Pharmaceuticals: Strong Performance on All Fronts

<p>Domestic formulations constitute 30% of the total consolidated turnover and is segregated into branded formulations &amp; institutional business Asia accounts for ~35% of export formulations, Africa 33% &amp; US 32%. The...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Domestic formulations constitute 30% of the total consolidated turnover and is segregated into branded formulations &amp; institutional business Asia accounts for ~35% of export formulations, Africa 33% &amp; US 32%. The...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ajanta Pharmaceuticals: India Growth Drives Steady Numbers

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>Ajanta Pharma (AJP) delivered 1QFY22 earnings marginally below our expectation. Robust growth in Domestic Formulation (DF) / Branded Generics (Africa) was offset by moderate growth in US / Branded Generics (Asia) and enhanced opex towards marketing and promotional activities. AJP is on track to outperform in the Branded Generics segment across DF/Asia/Africa and build a product pipeline for the US market.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Ajanta Pharma (AJP) delivered 1QFY22 earnings marginally below our expectation. Robust growth in Domestic Formulation (DF) / Branded Generics (Africa) was offset by moderate growth in US / Branded Generics (Asia) and enhanced opex towards marketing and promotional activities. AJP is on track to outperform in the Branded Generics segment across DF/Asia/Africa and build a product pipeline for the US market.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ajanta Pharma: DF, US, Africa Drive Revenue Growth

India

Ajanta Pharma is an Indian multinational pharmaceutical company that develops, manufactures, and markets specialty pharmaceutical finished dosages and branded generics. The company focuses on various therapeutic areas including cardiology, dermatology, ophthalmology, and pain management. It operates in India, the US, and over 30 emerging markets across Africa and Asia. Headquartered in Mumbai, India, the company was established in 1973.

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Ajanta Pharma (AJP IN)

Ajanta Pharmaceuticals - Margins Weak but Branded Generics Outlook Strong…

Ajanta Pharma is a focused player in branded, which constitutes ~72% of overall sales, spread across geographies including India

ICICI Securities Limited

Ajanta Pharmaceuticals: Momentum in Branded Business Buoys Numbers

Ajanta Pharma is a focused player in branded, which constitutes ~70% of the overall sales which are spread across geographies including India

ICICI Securities Limited

Ajanta Pharmaceuticals: Strong Performance on All Fronts

Ajanta Pharma is a focused player in branded, which constitutes ~70% of overall sales, which are spread across geographies, including India.

ICICI Securities Limited

Ajanta Pharmaceuticals: India Growth Drives Steady Numbers

Domestic formulations constitute 30% of the total consolidated turnover and is segregated into branded formulations & institutional business Asia...

ICICI Securities Limited

Ajanta Pharma: DF, US, Africa Drive Revenue Growth

Ajanta Pharma (AJP) delivered 1QFY22 earnings marginally below our expectation. Robust growth in Domestic Formulation (DF) / Branded Generics...

Motilal Oswal

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