Buy Ajanta Pharma, target price Rs 2030: ICICI Securities

ICICI Securities has buy call on Ajanta Pharma with a target price of Rs 2030. The current market price of Ajanta Pharma Ltd. is Rs 1952.45.

Ajanta Pharma Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 24596.36 Crore) operating in Pharmaceuticals sector.

Ajanta Pharma Ltd. key Products/Revenue Segments include Pharmaceutical Products, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 1049.77 Crore, down -.29 % from last quarter Total Income of Rs 1052.79 Crore and up 7.29 % from last year same quarter Total Income of Rs 978.45 Crore. Company reported net profit after tax of Rs 195.30 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 66.21 per cent stake in the company as of 30-Sep-2023, while FIIs owned 9.99 per cent, DIIs 15.6 per cent.