AJANTA PHARMA Announces Quarterly Results (1QFY20); Net Profit Up 8.4%

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AJANTA PHARMA Announces Quarterly Results (1QFY20); Net Profit Up 8.4%
Fri, 2 Aug

AJANTA PHARMA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

AJANTA PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m5,1105,1526,11918.8%19.8%
Other incomeRs m811676368.7%-6.0%
TurnoverRs m5,1915,1686,19619.9%19.4%
ExpensesRs m3,5353,8814,43614.3%25.5%
Gross profitRs m1,5751,2711,68432.5%6.9%
DepreciationRs m17218822821.5%32.7%
InterestRs m2818132.5%952.9%
Profit before taxRs m1,4831,0921,51538.7%2.1%
TaxRs m42520336881.4%-13.3%
Profit after taxRs m1,0588891,14629.0%8.4%
Gross profit margin%30.824.727.5
Effective tax rate%28.718.624.3
Net profit margin%20.417.218.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 19.8% on a year-on-year (YoY) basis. The expenses were up by 25.5% YoY during the same period.
  • The company's operating profit increased by 6.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.5% in 1QFY20 as against 30.8% in 1QFY19.
  • Depreciation charges increased by 32.7% and finance costs increased by 952.9% YoY, respectively.
  • Other income declined by 6.0% YoY during the quarter.
  • Net profit for the quarter increased by 8.4% YoY. Net profit margins during the quarter declined from 20.4% in 1QFY19 to 18.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 18.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 14.3% QoQ during the same period.
  • The company's operating profit increased by 32.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.5% in 1QFY20 as against 24.7% in 4QFY19.
  • Net profit for the quarter increased by 29.0% QoQ, while net profit margins increased from 17.2% in 4QFY19 to 18.5% in 1QFY20.

To see how AJANTA PHARMA has performed over the last eight quarters,please visit here.

AJANTA PHARMA Share Price Performance

Over the last one year,AJANTA PHARMA share price has moved down from Rs 1,135.2 to Rs 942.4, registering a Loss of Rs 192.8 or around 17.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 12,471.0 (down 0.9%). Over the last one year it has moved down from 14,511.5 to 12,471.0, a gain of 2,041 points (down 14.1%).

Overall, the S&P BSE SENSEX is down 2.3% over the year.

Current Valuations

At the current price of Rs 942.4, the price to earnings (P/E) ratio of AJANTA PHARMA stands at 20.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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For the quarter ended December 2019, AJANTA PHARMA has posted a net profit of Rs 1 bn (up 60.8% YoY). Sales on the other hand came in at Rs 7 bn (up 34.2% YoY). Read on for a complete analysis of AJANTA PHARMA's quarterly results.

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