Ajanta Pharma Limited, a specialty pharmaceutical formulation company, has reported strong financial results for the third quarter and nine months ended December 31, 2024. The company continues to demonstrate robust growth in its branded generics segment across India, Asia, and Africa.
Q3 FY2025 Financial Highlights (YoY Growth)
- Revenue from Operations: ₹1,146 crore, up 4% from ₹1,105 crore.
- EBITDA: ₹321 crore, a 2% rise from ₹314 crore, with an EBITDA margin of 28%.
- Profit After Tax (PAT): ₹233 crore, up 11% from ₹210 crore, with a PAT margin of 20%.
9M FY2025 Financial Highlights (YoY Growth)
- Revenue from Operations: ₹3,478 crore, up 10% from ₹3,155 crore.
- EBITDA: ₹962 crore, an 8% rise from ₹894 crore, with an EBITDA margin of 28%.
- Profit After Tax (PAT): ₹695 crore, up 13% from ₹613 crore, with a PAT margin of 20%.
- Cash Flow from Operations (CFO): ₹985 crore, with an EBITDA to CFO conversion of 102%.
- Free Cash Flow (FCF): ₹675 crore, with an FCF to PAT conversion of 97%.
- Return on Capital Employed (ROCE): 35%; Return on Net Worth (RONW): 26%.
Branded Generic Business Performance
- India Sales: ₹345 crore in Q3 FY2025 (up 12% YoY); ₹1,083 crore in 9M FY2025 (up 10% YoY).
- Asia Sales: ₹316 crore in Q3 FY2025 (up 8% YoY); ₹888 crore in 9M FY2025 (up 14% YoY).
- Africa Sales: ₹173 crore in Q3 FY2025 (up 12% YoY); ₹617 crore in 9M FY2025 (up 31% YoY).
- Total Branded Generic Sales: ₹834 crore in Q3 FY2025 (up 10% YoY); ₹2,588 crore in 9M FY2025 (up 16% YoY).
According to IQVIA MAT December 2024 data, Ajanta Pharma’s India growth was 11%, outpacing the Indian Pharmaceutical Market (IPM) growth of 8%. The company’s growth was primarily volume-driven, with strong performance across key therapeutic segments:
- Cardiology: 11% (segment growth: 12%)
- Ophthalmology: 6% (segment growth: 4%)
- Dermatology: 16% (segment growth: 10%)
- Pain Management: 11% (segment growth: 7%)
US Generic Business
- Q3 FY2025 Sales: ₹263 crore (up 4% YoY).
- 9M FY2025 Sales: ₹723 crore (up 3% YoY).
- ANDA Approvals: 5 final approvals were received in 9M FY2025, with 4 ANDAs filed.
- Pending US FDA Approvals: 21 ANDAs awaiting approval, with 2 tentative approvals.
Africa Institutional Business
- Q3 FY2025 Sales: ₹33 crore, down 61% YoY.
- 9M FY2025 Sales: ₹118 crore, down 37% YoY.
R&D Investments
- Q3 FY2025 R&D Expenses: ₹53 crore, accounting for 5% of revenue.
- 9M FY2025 R&D Expenses: ₹161 crore, maintaining a 5% revenue share.
Ajanta Pharma continues to strengthen its market position through a combination of strategic R&D investments, new product launches, and geographic expansion. The company’s branded generics business remains the primary growth driver, with strong contributions from India, Asia, and Africa.
With a consistent focus on innovation and operational excellence, Ajanta Pharma remains well-positioned for sustained growth in the coming quarters.
