ICICI Direct's research report on Ajanta Pharmaceuticals
Ajanta Pharma is a focused player in branded, which constitutes ~72% of overall sales, spread across geographies including India. As of FY22, overall exports: domestic formulations ratio was at 70:30 • Among exports, Asia accounts for ~35% of export formulations, Africa 34% & US 30%. The company also participates in anti-malarial tenders in Africa (included in Africa).
Outlook
We maintain BUY as it remains a compelling play on branded generics (~72% exposure) with strong execution track record and financials. Valued at Rs 1955 i.e. 20x P/E on FY24E EPS of Rs 97.8.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
Read More
