Jefferies has initiated coverage on Ajanta Pharma with a ‘Buy’ call, projecting an upside of 11% from the current market price of ₹2,574.00 (as of April 11, 2025). The brokerage has set a target price of ₹2,850.
According to Jefferies, Ajanta derives around 70% of its revenue from branded generics in high-entry-barrier markets across India, Asia, and Africa, giving it a significant competitive advantage. The firm noted that Ajanta’s superior geographical mix, focused market approach, and tailored strategies have resulted in consistent double-digit growth in revenue and earnings.
The brokerage also highlighted Ajanta’s strong execution capabilities and robust free cash flow generation, forecasting a 19% CAGR in PAT over FY25–FY27. The company’s scalable model and disciplined market focus make it a key mid-cap pharma pick, Jefferies added.
Disclaimer: The above views are of the brokerage and not of the author or the publication. Please make any and every investment decision after consulting your financial advisor.
