Fortune India 500 2025 edition
Rank#488- Total income
- ₹4,768 Cr
- Profit
- ₹920 Cr
Last year #476
Ajanta Pharma Limited - pharma in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Active Listed - NSE: AJANTPHARM · BSE: 532331 Public Limited Company pharma Fortune India 500 · #488 Nifty 500
Market Cap
₹40,869 Cr
AJANTPHARM · NSE
Share Price
₹3,283.90
+0.41% today
Revenue
₹5,453 Cr
FY 2025-26 · +17.3% YoY
EBITDA
₹1,395 Cr
Margin 25.6%
Net Profit
₹1,129 Cr
FY 2025-26 · +23.2% YoY
P/E (TTM)
35.9x
P/B 9.0x
ROE
25.4%
ROCE 31.8%
Debt / Equity
0.04
Interest cover 1.3x
About Ajanta Pharma Limited
Data last updated:
Ajanta Pharma Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 31 December 1979 and has been in existence for over 47 years.
Ajanta Pharma is ranked #488 on the Fortune India 500 (2025). It is part of the Nifty 500 and BSE 500 indices. Its director Mannalal B Agrawal and family are #197 among India's richest people (2026). Its director Madhusudan B Agrawal and family are #525 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24230MH1979PLC022059. Its GSTIN is 27AAACA5579P1Z1 (Maharashtra). The company holds 34 GST registrations, of which 25 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532331 and NSE: AJANTPHARM.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹24.99 Cr. It was formerly known as Ajanta Pharma Private Limited. It is led by directors including Yogesh Mannalal Agrawal (Managing Director) and Madhusudan Bhagwandas Agrawal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 16 July 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹5,452.86 Cr, a growth of 17.3% compared to the previous year. For the same year it recorded a net profit of ₹1,128.55 Cr (net margin 20.7%) and EBITDA of ₹1,394.83 Cr (EBITDA margin 25.6%). The net worth stands at ₹4,527.09 Cr (up 19.4% YoY). Total assets are valued at ₹4,841.9 Cr (up 23.5% YoY).
The company has about 7,869 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Resinno and Ajanta Pharma. As per MCA filings, the company has open charges of ₹65 Cr and satisfied charges of ₹548.84 Cr on record. Court records list 606 cases involving the company, including 434 filed by the company and 173 filed against it; 128 cases are pending. The company has 47 deals on record (41 market trades, 5 secondary share transfers, 1 acquisition); the latest was in June 2026. Its 9 peer companies in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 4 smaller; the largest is Micro Labs Limited with revenue of ₹6,499.64 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ajantapharma.com.
Company details
CIN L24230MH1979PLC022059
Registration Number 022059
Incorporation Date 31 December 1979
ROC Mumbai
Listing Status Listed - Listed on NSE (AJANTPHARM); Listed on BSE (532331)
Company Status Active
Date of Last AGM 16 July 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
Key People
Yogesh Mannalal Agrawal Managing Director Madhusudan Bhagwandas Agrawal Whole-Time Director Rajesh Mannalal Agrawal Whole-Time Director Recognitions & Rankings of Ajanta Pharma
India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#169- Valuation
- ₹35,590 Cr
2023 #196 2022 #226 2021 #214
India's Richest People 2026 edition · 2 directors · Source: Hurun India
- #197 Mannalal B Agrawal & family ₹18,300 Cr
- #525 Madhusudan B Agrawal & family ₹6,600 Cr
Stock market indices
Nifty 500 BSE 500
Contact details
Ajanta Pharma Limited's registered office is in Mumbai, Maharashtra. Its website is ajantapharma.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressAjanta Tower 54 – A M Vasanji Road, Chakala Andheri (E), Mumbai, Maharashtra, India – 400093
- IndustryPharma, Drug Formulation & Development
To see the full contact details of Ajanta Pharma Limited, buy the company report.
Comprehensive company report
Ajanta Pharma Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Ajanta Pharma operates two associated brands: Resinno and Ajanta Pharma. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Serves as a CDMO specializing in the manufacturing of active pharmaceutical ingredients. | resinnobiotech.com | |
| Generic pharmaceutical products are manufactured across multiple therapeutic segments. | ajantapharma.com |
Business activity
The main business activity of Ajanta Pharma is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Ajanta Pharma Limited, buy the company report.
Financials of Ajanta Pharma Limited
FY 2025-26 filings availableAjanta Pharma Limited reported revenue of ₹5,452.86 Cr (up 17.3% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹5,453 Cr
+17.3% YoY
EBITDA
₹1,395 Cr
+10.7% YoY
Profit After Tax
₹1,129 Cr
+23.2% YoY
Net Worth
₹4,527 Cr
+19.4% YoY
Total Assets
₹4,842 Cr
+23.5% YoY
Total Debt
₹260 Cr
+448.7% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 5,453 | 4,648 | 4,209 | 3,743 | 3,341 | 2,890 | 2,588 |
| Revenue growth | +17.3% | +10.4% | +12.5% | +12.0% | +15.6% | +11.7% | - |
| EBITDA | 1,395 | 1,260 | 1,172 | 783 | 929 | 999 | 679 |
| EBITDA margin | +25.6% | +27.1% | +27.9% | +20.9% | +27.8% | +34.6% | +26.3% |
| Profit before tax | 1,378 | 1,189 | 1,114 | 745 | 909 | 900 | 664 |
| Net profit | 1,129 | 916 | 808 | 594 | 713 | 651 | 471 |
| Net profit margin | +20.7% | +19.7% | +19.2% | +15.9% | +21.4% | +22.5% | +18.2% |
| EPS (₹) | 84.24 | 73.43 | 64.60 | 46.54 | 83.01 | 75.20 | 53.33 |
| Balance sheet | |||||||
| Total assets | 4,842 | 3,921 | 3,646 | 3,451 | 3,313 | 3,050 | 2,694 |
| Net worth | 4,527 | 3,790 | 3,567 | 3,388 | 3,264 | 2,996 | 2,599 |
| Total debt | 260 | 47.42 | 35.28 | 35.63 | 25.03 | 31.36 | 74.96 |
| Cash & bank | 105 | 176 | 131 | 331 | 212 | 210 | 205 |
| Net working capital | 1,981 | 1,421 | 1,517 | 1,194 | 1,502 | 1,215 | 1,031 |
| Cash flow | |||||||
| Cash from operations | 529 | 1,157 | 785 | 792 | 562 | 576 | 457 |
| Cash from investing | (429) | (377) | 65.39 | (560) | (74.10) | (282) | (224) |
| Cash from financing | (168) | (733) | (1,051) | (108) | (460) | (318) | (129) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,626 | 1,422 | 1,375 | 1,354 | 1,303 | 1,170 | 1,146 | 1,187 |
| Revenue growth (YoY) | +24.8% | +21.5% | +20.0% | +14.1% | +13.8% | - | - | - |
| Other income | 70.90 | 61.43 | 24.97 | 59.34 | 26.33 | 18.11 | 30.44 | 19.48 |
| EBITDA | 424 | 333 | 382 | 328 | 351 | 297 | 321 | 311 |
| EBITDA margin | +26.1% | +23.5% | +27.8% | +24.2% | +27.0% | +25.4% | +28.0% | +26.2% |
| Depreciation | 44.50 | 45.37 | 43.51 | 42.97 | 41.29 | 39.78 | 35.97 | 34.39 |
| Interest | 3.18 | 2.36 | 5.10 | 3.39 | 5.26 | 6.07 | 7.91 | 6.02 |
| Profit before tax | 447 | 347 | 359 | 341 | 331 | 269 | 307 | 290 |
| Tax | 113 | 80.41 | 84.83 | 80.62 | 75.79 | 44.15 | 74.51 | 73.76 |
| Net profit | 334 | 267 | 274 | 260 | 255 | 225 | 233 | 216 |
| EPS (₹) | 26.72 | 21.34 | 21.91 | 20.82 | 20.43 | 18.00 | 18.59 | 17.26 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 4,846 | 4,322 | 3,971 | 3,411 | 3,141 | 2,719 | 2,196 |
| Revenue growth | +12.1% | +8.8% | +16.4% | +8.6% | +15.5% | +23.8% | - |
| EBITDA | 1,198 | 1,205 | 1,119 | 699 | 891 | 917 | 529 |
| EBITDA margin | +24.7% | +27.9% | +28.2% | +20.5% | +28.4% | +33.7% | +24.1% |
| Profit before tax | 1,231 | 1,180 | 1,097 | 700 | 901 | 902 | 613 |
| Net profit | 942 | 906 | 796 | 546 | 720 | 673 | 444 |
| Net profit margin | +19.4% | +21.0% | +20.1% | +16.0% | +22.9% | +24.8% | +20.2% |
| EPS (₹) | 75.53 | 73.15 | 63.89 | 44.22 | 83.85 | 77.70 | 50.30 |
| Balance sheet | |||||||
| Total assets | 4,313 | 3,740 | 3,487 | 3,307 | 3,213 | 2,933 | 2,505 |
| Net worth | 4,224 | 3,625 | 3,414 | 3,246 | 3,169 | 2,885 | 2,461 |
| Total debt | 34.69 | 31.17 | 30.52 | 32.90 | 20.49 | 25.91 | 23.49 |
| Cash & bank | 90.55 | 49.72 | 63.06 | 270 | 145 | 152 | 87.85 |
| Net working capital | 1,673 | 1,433 | 1,490 | 1,141 | 1,470 | 1,191 | 885 |
| Cash flow | |||||||
| Cash from operations | 804 | 1,054 | 735 | 736 | 542 | 467 | 301 |
| Cash from investing | (400) | (350) | 105 | (501) | (66.04) | (163) | (116) |
| Cash from financing | (360) | (716) | (1,048) | (105) | (457) | (269) | (134) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,489 | 1,211 | 1,207 | 1,220 | 1,209 | 1,014 | 1,102 | 1,129 |
| Revenue growth (YoY) | +23.2% | +19.4% | +9.5% | +8.1% | +12.2% | - | - | - |
| Other income | 70.82 | 62.98 | 25.76 | 75.03 | 40.63 | 17.93 | 33.23 | 40.34 |
| Total expenses | 1,092 | 972 | 866 | 931 | 879 | 764 | 766 | 826 |
| EBITDA | 397 | 238 | 341 | 290 | 329 | 250 | 336 | 303 |
| EBITDA margin | +26.6% | +19.7% | +28.3% | +23.7% | +27.3% | +24.6% | +30.5% | +26.8% |
| Depreciation | 43.31 | 44.16 | 42.38 | 41.92 | 40.31 | 38.76 | 34.93 | 33.32 |
| Interest | 0.76 | (0.74) | 1.87 | 0.73 | 0.73 | 0.67 | 2.48 | 0.73 |
| Profit before tax | 423 | 258 | 322 | 322 | 329 | 228 | 332 | 309 |
| Tax | 108 | 60.33 | 77.42 | 72.44 | 74.02 | 34.72 | 79.70 | 74.22 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 24 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,626 | 1,422 | 1,375 | 1,354 | 1,303 | 1,170 | 1,146 | 1,187 |
| Revenue growth (YoY) | +24.8% | +21.5% | +20.0% | +14.1% | +13.8% | - | - | - |
| Other income | 70.90 | 61.43 | 24.97 | 59.34 | 26.33 | 18.11 | 30.44 | 19.48 |
| EBITDA | 424 | 333 | 382 | 328 | 351 | 297 | 321 | 311 |
| EBITDA margin | +26.1% | +23.5% | +27.8% | +24.2% | +27.0% | +25.4% | +28.0% | +26.2% |
| Depreciation | 44.50 | 45.37 | 43.51 | 42.97 | 41.29 | 39.78 | 35.97 | 34.39 |
| Interest | 3.18 | 2.36 | 5.10 | 3.39 | 5.26 | 6.07 | 7.91 | 6.02 |
| Profit before tax | 447 | 347 | 359 | 341 | 331 | 269 | 307 | 290 |
| Tax | 113 | 80.41 | 84.83 | 80.62 | 75.79 | 44.15 | 74.51 | 73.76 |
| Net profit | 334 | 267 | 274 | 260 | 255 | 225 | 233 | 216 |
| EPS (₹) | 26.72 | 21.34 | 21.91 | 20.82 | 20.43 | 18.00 | 18.59 | 17.26 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 5,453 | 4,648 | 4,209 | 3,743 | 3,341 | 2,890 | 2,588 |
| Revenue growth | +17.3% | +10.4% | +12.5% | +12.0% | +15.6% | +11.7% | - |
| Other income | 172 | 94.50 | 84.60 | 98.64 | 116 | 25.98 | 92.19 |
| Total expenses | 4,058 | 3,389 | 3,037 | 2,959 | 2,412 | 1,891 | 1,908 |
| Employee cost | 1,291 | 1,090 | 900 | 785 | 646 | 548 | 486 |
| EBITDA | 1,395 | 1,260 | 1,172 | 783 | 929 | 999 | 679 |
| EBITDA margin | +25.6% | +27.1% | +27.9% | +20.9% | +27.8% | +34.6% | +26.3% |
| Depreciation | 173 | 144 | 135 | 131 | 125 | 116 | 95.72 |
| Interest | 16.11 | 20.73 | 7.21 | 5.84 | 10.20 | 8.27 | 11.91 |
| Profit before tax | 1,378 | 1,189 | 1,114 | 745 | 909 | 900 | 664 |
| Tax | 322 | 269 | 298 | 157 | 197 | 246 | 196 |
| Net profit | 1,129 | 916 | 808 | 594 | 713 | 651 | 471 |
| Net profit margin | +20.7% | +19.7% | +19.2% | +15.9% | +21.4% | +22.5% | +18.2% |
| EPS (₹) | 84.24 | 73.43 | 64.60 | 46.54 | 83.01 | 75.20 | 53.33 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 25.07 | 25.07 | 25.27 | 25.27 | 17.17 | 17.39 | 17.54 |
| Reserves & surplus | 4,502 | 3,765 | 3,542 | 3,363 | 3,247 | 2,978 | 2,581 |
| Shareholders' funds (net worth) | 4,527 | 3,790 | 3,567 | 3,388 | 3,264 | 2,996 | 2,599 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 212 | 2.59 | 1.49 | 1.43 | 1.91 | 1.69 | 45.68 |
| Unsecured loans | 48.18 | 44.83 | 33.79 | 34.20 | 23.12 | 29.67 | 29.28 |
| Total debt | 260 | 47.42 | 35.28 | 35.63 | 25.03 | 31.36 | 74.96 |
| Total liabilities | 4,842 | 3,921 | 3,646 | 3,451 | 3,313 | 3,050 | 2,694 |
| Assets | |||||||
| Gross block | 3,046 | 2,801 | 2,389 | 2,283 | 2,218 | 2,141 | 1,975 |
| Net block | 1,867 | 1,762 | 1,479 | 1,496 | 1,512 | 1,541 | 1,472 |
| Capital work in progress | 258 | 176 | 256 | 209 | 153 | 108 | 132 |
| Investments | 588 | 464 | 349 | 535 | 147 | 176 | 79.42 |
| Inventories | 939 | 904 | 828 | 816 | 791 | 766 | 496 |
| Sundry debtors | 1,854 | 1,183 | 1,247 | 1,057 | 1,020 | 738 | 775 |
| Cash & bank balances | 105 | 176 | 131 | 331 | 212 | 210 | 205 |
| Loans & advances | 278 | 141 | 195 | 120 | 120 | 137 | 98.34 |
| Total current assets | 3,176 | 2,404 | 2,401 | 2,324 | 2,143 | 1,852 | 1,575 |
| Total current liabilities | 1,195 | 983 | 884 | 1,130 | 641 | 637 | 544 |
| Net working capital | 1,981 | 1,421 | 1,517 | 1,194 | 1,502 | 1,215 | 1,031 |
| Total assets | 4,842 | 3,921 | 3,646 | 3,451 | 3,313 | 3,050 | 2,694 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 175 | 129 | 330 | 206 | 178 | 202 | 95.16 |
| Net cash from operating activities | 529 | 1,157 | 785 | 792 | 562 | 576 | 457 |
| Net cash from investing activities | (429) | (377) | 65.39 | (560) | (74.10) | (282) | (224) |
| Net cash from financing activities | (168) | (733) | (1,051) | (108) | (460) | (318) | (129) |
| Net change in cash | (67.65) | 47.30 | (201) | 124 | 27.90 | (24.36) | 104 |
| Closing cash | 105 | 176 | 131 | 331 | 212 | 210 | 205 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +17.3% | +10.4% | +12.5% | +12.0% | +15.6% | +11.7% | - |
| EBITDA growth | +10.7% | +7.5% | +49.6% | -15.7% | -6.9% | +47.0% | - |
| PBT growth | +15.9% | +6.8% | +49.5% | -18.1% | +1.0% | +35.6% | +29.1% |
| Net income growth | +23.2% | +13.4% | +36.0% | -16.7% | +9.5% | +38.4% | - |
| Revenue CAGR (3Y) | +13.4% | +11.6% | +13.4% | +13.1% | +17.6% | +10.8% | +9.3% |
| EBITDA CAGR (3Y) | +21.2% | +10.7% | +5.5% | +4.9% | +17.9% | +14.9% | -0.4% |
| Profitability & leverage | |||||||
| Net income margin | +19.4% | +19.8% | +19.4% | +15.7% | +21.3% | +22.6% | +18.1% |
| Return on capital employed | +31.8% | +32.0% | +31.6% | +22.2% | +28.9% | +31.6% | +27.1% |
| Return on net worth | +25.4% | +25.0% | +23.5% | +17.7% | +22.8% | +23.4% | +19.3% |
| Debt / equity | 0.04 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 |
| Long-term debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
| Interest cover | 1.32 | 1.86 | 0.70 | 0.90 | 1.27 | 0.94 | 2.04 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.87 | 1.79 | 1.80 | 1.66 | 1.53 | 1.40 | 1.45 |
| Inventory turnover | 5.92 | 5.37 | 5.12 | 4.66 | 4.29 | 4.58 | 5.56 |
| Debtors turnover | 3.59 | 3.83 | 3.65 | 3.60 | 3.80 | 3.82 | 4.19 |
| EPS (₹) | 84.24 | 73.43 | 64.60 | 46.54 | 83.01 | 75.20 | 53.33 |
| Dividend per share (₹) | 28.00 | 28.00 | 51.00 | 7.00 | 9.50 | 9.50 | 13.00 |
| Book value per share (₹) | 361.16 | 302.38 | 282.34 | 268.14 | 380.24 | 344.52 | 296.34 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,489 | 1,211 | 1,207 | 1,220 | 1,209 | 1,014 | 1,102 | 1,129 |
| Revenue growth (YoY) | +23.2% | +19.4% | +9.5% | +8.1% | +12.2% | - | - | - |
| Other income | 70.82 | 62.98 | 25.76 | 75.03 | 40.63 | 17.93 | 33.23 | 40.34 |
| Total expenses | 1,092 | 972 | 866 | 931 | 879 | 764 | 766 | 826 |
| EBITDA | 397 | 238 | 341 | 290 | 329 | 250 | 336 | 303 |
| EBITDA margin | +26.6% | +19.7% | +28.3% | +23.7% | +27.3% | +24.6% | +30.5% | +26.8% |
| Depreciation | 43.31 | 44.16 | 42.38 | 41.92 | 40.31 | 38.76 | 34.93 | 33.32 |
| Interest | 0.76 | (0.74) | 1.87 | 0.73 | 0.73 | 0.67 | 2.48 | 0.73 |
| Profit before tax | 423 | 258 | 322 | 322 | 329 | 228 | 332 | 309 |
| Tax | 108 | 60.33 | 77.42 | 72.44 | 74.02 | 34.72 | 79.70 | 74.22 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 4,846 | 4,322 | 3,971 | 3,411 | 3,141 | 2,719 | 2,196 |
| Revenue growth | +12.1% | +8.8% | +16.4% | +8.6% | +15.5% | +23.8% | - |
| Other income | 204 | 120 | 116 | 133 | 140 | 104 | 184 |
| Total expenses | 3,648 | 3,117 | 2,852 | 2,712 | 2,250 | 1,802 | 1,668 |
| Employee cost | 1,194 | 1,011 | 834 | 720 | 586 | 498 | 438 |
| EBITDA | 1,198 | 1,205 | 1,119 | 699 | 891 | 917 | 529 |
| EBITDA margin | +24.7% | +27.9% | +28.2% | +20.5% | +28.4% | +33.7% | +24.1% |
| Depreciation | 169 | 140 | 132 | 127 | 121 | 111 | 91.29 |
| Interest | 2.59 | 4.60 | 6.80 | 5.23 | 9.12 | 6.90 | 9.10 |
| Profit before tax | 1,231 | 1,180 | 1,097 | 700 | 901 | 902 | 613 |
| Tax | 284 | 263 | 290 | 141 | 181 | 226 | 172 |
| Net profit | 942 | 906 | 796 | 546 | 720 | 673 | 444 |
| Net profit margin | +19.4% | +21.0% | +20.1% | +16.0% | +22.9% | +24.8% | +20.2% |
| EPS (₹) | 75.53 | 73.15 | 63.89 | 44.22 | 83.85 | 77.70 | 50.30 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 25.07 | 25.07 | 25.27 | 25.27 | 17.17 | 17.39 | 17.54 |
| Reserves & surplus | 4,198 | 3,600 | 3,388 | 3,221 | 3,152 | 2,868 | 2,444 |
| Shareholders' funds (net worth) | 4,224 | 3,625 | 3,414 | 3,246 | 3,169 | 2,885 | 2,461 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 34.69 | 31.17 | 30.52 | 32.90 | 20.49 | 25.91 | 23.49 |
| Total debt | 34.69 | 31.17 | 30.52 | 32.90 | 20.49 | 25.91 | 23.49 |
| Total liabilities | 4,313 | 3,740 | 3,487 | 3,307 | 3,213 | 2,933 | 2,505 |
| Assets | |||||||
| Gross block | 2,996 | 2,760 | 2,355 | 2,246 | 2,163 | 2,087 | 1,927 |
| Net block | 1,845 | 1,742 | 1,465 | 1,484 | 1,492 | 1,519 | 1,449 |
| Capital work in progress | 258 | 176 | 256 | 209 | 153 | 108 | 131 |
| Investments | 606 | 482 | 367 | 553 | 165 | 157 | 85.77 |
| Inventories | 845 | 739 | 678 | 684 | 635 | 634 | 436 |
| Sundry debtors | 1,366 | 1,226 | 1,208 | 978 | 1,044 | 782 | 734 |
| Cash & bank balances | 90.55 | 49.72 | 63.06 | 270 | 145 | 152 | 87.85 |
| Loans & advances | 258 | 123 | 163 | 110 | 111 | 129 | 89.66 |
| Total current assets | 2,559 | 2,137 | 2,112 | 2,041 | 1,935 | 1,697 | 1,348 |
| Total current liabilities | 886 | 704 | 622 | 900 | 466 | 506 | 463 |
| Net working capital | 1,673 | 1,433 | 1,490 | 1,141 | 1,470 | 1,191 | 885 |
| Total assets | 4,313 | 3,740 | 3,487 | 3,307 | 3,213 | 2,933 | 2,505 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 48.60 | 61.78 | 269 | 140 | 120 | 84.95 | 30.52 |
| Net cash from operating activities | 804 | 1,054 | 735 | 736 | 542 | 467 | 301 |
| Net cash from investing activities | (400) | (350) | 105 | (501) | (66.04) | (163) | (116) |
| Net cash from financing activities | (360) | (716) | (1,048) | (105) | (457) | (269) | (134) |
| Net change in cash | 44.65 | (11.51) | (207) | 130 | 19.00 | 35.41 | 50.97 |
| Closing cash | 90.55 | 49.72 | 63.06 | 270 | 145 | 152 | 87.85 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +12.1% | +8.8% | +16.4% | +8.6% | +15.5% | +23.8% | - |
| EBITDA growth | -0.6% | +7.6% | +60.1% | -21.5% | -2.8% | +73.4% | - |
| PBT growth | +4.3% | +7.6% | +56.7% | -22.3% | -0.2% | +47.2% | +19.4% |
| Net income growth | +3.9% | +13.8% | +45.9% | -24.2% | +7.1% | +51.5% | - |
| Revenue CAGR (3Y) | +12.4% | +11.2% | +13.5% | +15.8% | +21.0% | +14.2% | +6.8% |
| EBITDA CAGR (3Y) | +19.7% | +10.6% | +6.9% | +9.8% | +22.8% | +18.8% | -5.9% |
| Profitability & leverage | |||||||
| Net income margin | +19.5% | +21.2% | +20.3% | +16.4% | +22.9% | +24.9% | +20.1% |
| Return on capital employed | +30.6% | +32.8% | +32.5% | +21.6% | +29.6% | +33.4% | +26.7% |
| Return on net worth | +24.1% | +26.1% | +24.2% | +17.4% | +23.8% | +25.3% | +19.2% |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Long-term debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
| Interest cover | 0.25 | 0.43 | 0.69 | 0.91 | 1.18 | 0.86 | 2.08 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.68 | 1.69 | 1.73 | 1.55 | 1.48 | 1.35 | 1.26 |
| Inventory turnover | 6.12 | 6.10 | 5.83 | 5.17 | 4.95 | 5.08 | 5.17 |
| Debtors turnover | 3.74 | 3.55 | 3.63 | 3.38 | 3.44 | 3.59 | 3.79 |
| EPS (₹) | 75.53 | 73.15 | 63.89 | 44.22 | 83.85 | 77.70 | 50.30 |
| Dividend per share (₹) | 28.00 | 28.00 | 51.00 | 7.00 | 9.50 | 9.50 | 13.00 |
| Book value per share (₹) | 336.94 | 289.21 | 270.17 | 256.94 | 369.15 | 331.80 | 280.65 |
To see the full year-wise statements and ratios of Ajanta Pharma Limited, buy the company report.
Board of directors of Ajanta Pharma Limited
Ajanta Pharma has 8 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Madhusudan Bhagwandas Agrawal | Whole-Time Director | 31 Dec 1979 | 46 Years 9 Months | Current |
| Rajesh Mannalal Agrawal | Whole-Time Director | 30 Apr 2013 | 13 Years 5 Months | Current |
| Mannalal Bhagwandas Agrawal | Director | 31 Dec 1979 | 46 Years 9 Months | Current |
| Yogesh Mannalal Agrawal | Managing Director | 01 Apr 2008 | 18 Years 6 Months | Current |
| David Paul Rasquinha Also directs: Ion Exchange (India) Limited, Unity Small Finance Bank Limited, HSBC Trustees (India) Private Limited and 2 more | Director | 02 May 2024 | 2 Years 5 Months | Current |
| Medha Vinay Joshi | Director | 02 May 2024 | 2 Years 5 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
Ajanta Pharma Limited is compared with the 9 companies closest to it by revenue in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Micro Labs Limited | ₹6,499.64 Cr (FY 2025) | -2.0% | Bengaluru, Karnataka, India | |||
| Ajanta Pharma Limitedthis company | ₹5,452.86 Cr (FY 2026) | ₹1,128.55 Cr | 20.7% | 17.3% | 7,869 | Mumbai, Maharashtra, India |
| Aristo Pharmaceuticals Private Limited | ₹5,363.3 Cr (FY 2025) | 5.0% | Mumbai, Maharashtra, India | |||
| Usv Private Limited | ₹5,202.13 Cr (FY 2025) | 7.0% | Mumbai, Maharashtra, India | |||
| Eugia Pharma Specialities Limited | ₹4,828.71 Cr (FY 2025) | 12.0% | Hyderabad, Telangana, India | |||
| Natco Pharma Limited | ₹4,784 Cr (FY 2025) | 16.0% | Hyderabad, Telangana, India | |||
| Strides Pharma Science Limited | ₹4,624.06 Cr (FY 2025) | 18.0% | Thane, Maharashtra, India | |||
| Apl Healthcare Limited | ₹4,412.92 Cr (FY 2025) | 39.0% | Hyderabad, Telangana, India | |||
| Akums Drugs and Pharmaceuticals Limited | ₹4,170.28 Cr (FY 2025) | -1.0% | Delhi, India | |||
| J B Chemicals and Pharmaceuticals Limited | ₹3,956.31 Cr (FY 2025) | 12.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Ajanta Pharma Limited, buy the company report.
Auditor
Ajanta Pharma Limited is audited by BSR & Co. LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BSR & Co. LLP | FY 2025 | 101248W/W-100022 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 63.50%, foreign institutional investors hold 7.70%, domestic institutional investors hold 21.80% and retail and other public shareholders hold 7.00%.
Sep 2026
QUARTER
63.50% Promoters
21.80% DII (Domestic Institutional)
7.70% FII (Foreign Institutional)
7.00% Retail & Others
Promoter holding - history
Now 63.50% · Sep 2026High 66.20% · Dec 2025Low 63.50% · Sep 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 63.50% | 66.20% | 66.20% | 66.20% |
| Public | 36.50% | 33.80% | 33.80% | 33.80% |
Charges & borrowings
Open charges
₹65 Cr
Satisfied charges
₹548.84 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Jan 2024 | 100861907 | Idbi Bank Limited | ₹10 Cr | Open | |
| 11 Feb 2021 | 100420049 | Others | ₹10 Cr | Open | |
| 26 Jun 2020 | 100350802 | Citi Bank N.A. | ₹35 Cr | Open | |
| 03 Jul 1997 | 80026318 | Others | ₹10 Cr | Open | |
| 21 Mar 2013 | 10418936 | State Bank of Mauritius Limited | ₹55.16 Cr | Satisfied |
To see the full charge records of Ajanta Pharma Limited, buy the company report.
Total charge records: 35 View all charges
Deals & funding
Ajanta Pharma Limited has 47 deals on record (41 market trades, 5 secondary share transfers, 1 acquisition); the latest was in June 2026.
Total deals
47
Market trades
41
Secondary share transfers
5
Acquisition
1
Deals on record (5 of 47)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2022 | Market trade | ₹645.59 Cr | Buyer: Icici Prudential Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund Seller: Aayush Agrawal Trust, Ravi Agrawal Trust |
| May 2011 | Market trade | ₹3.73 Cr | Buyer: Crosseas Capital Markets Private Limited Seller: Crosseas Capital Markets Private Limited |
| May 2011 | Market trade | ₹1.87 Cr | Buyer: Crosseas Capital Markets Private Limited Seller: Crosseas Capital Markets Private Limited |
| May 2011 | Acquisition | Undisclosed | Buyer: Dabur India Limited Seller: Ajanta Pharma Limited |
| Apr 2011 | Market trade | ₹9.06 Cr | Buyer: Crosseas Capital Markets Private Limited , A.K.G. Securities and Consultancy Limited Seller: Crosseas Capital Markets Private Limited , A.K.G. Securities and Consultancy Limited |
To see the full deal history of Ajanta Pharma Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ajanta Pharma Limited has 606 court cases on record: 434 filed by Ajanta Pharma, 173 filed against it. 128 cases are pending and 478 are disposed.
Total cases
606
Filed by the company
434
Filed against the company
173
Pending
128
Disposed
478
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 389 | 96 | 77 |
| District courts | 202 | 65 | 50 |
| Supreme Court | 13 | 11 | 0 |
| NCLT | 1 | 1 | 0 |
| NCLAT | 1 | 0 | 1 |
Cases on record (5 of 606)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (COMMP) | Filed against the company by Micro Labs Limited | Pending |
| District court, Chennai, Tamil Nadu | Execution petition | Filed by the company against Kotak Mahindra Bank Ltd - Vadapalani Branch and 1 other | Pending |
| High Court | Court case (COMIP) | Filed against the company by Franco-Indian Remedies Private Limited and 3 others | Pending |
| High Court | Interim or miscellaneous application | Filed by the company against Micro Labs Limited and 1 other | Pending |
| High Court | Court case (COMIP) | Filed by the company against Makin Laboratories Pvt Ltd and 1 other | Pending |
To see the full case history of Ajanta Pharma Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Ajanta Pharma Limited was last rated by Care on 12 Sep 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 12 Sep 2022 |
To see the full credit ratings and regulatory alerts of Ajanta Pharma Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Ajanta Pharma Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Ajanta Pharma Limited has a workforce of 7,869 employees on its EPFO records as of Sep 23, 2025, across 9 active EPFO establishments.
Employee count
7,869
Active EPFO establishments
9
Employee growth
2.85%
GST
Ajanta Pharma has 34 GST registrations: 25 active and 9 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
34
Active
25
Cancelled / inactive
9
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACA5579P1Z1 | Maharashtra | Active | 01 Jul 2017 |
| 27AAACA5579P2Z0 | Maharashtra | Active | 02 Jul 2017 |
| 03AAACA5579P1ZB | Punjab | Active | 01 Jul 2017 |
| 07AAACA5579P1Z3 | Delhi | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ajanta Pharma Limited, buy the company report.
Recent activity
Ajanta Pharma Limited has 43 board changes on record since 1979: 27 appointments and 16 cessations. The latest: Prachi Jayesh Gupte was appointed as Deputy Nodal Officer on 30 Jul 2025.
AGM
Ajanta Pharma Limited last Annual general meeting of members was held on 16 Jul 2026 as per latest MCA records.
Filing
Ajanta Pharma Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Appointed
Prachi Jayesh Gupte was appointed as Deputy Nodal Officer.
Ceased
Anjana Grewal ceased to be Director.
Ceased
Chandrakant Mohanlal Khetan ceased to be Director.
Ceased
Prabhakar Ramchandra Dalal ceased to be Director.
Ceased
Viswanathan Hariharan Kalpati ceased to be Director.
Appointed
David Paul Rasquinha was appointed as Director.
Appointed
Medha Vinay Joshi was appointed as Director.
Appointed
Rajesh Shashikant Dalal was appointed as Director.
Appointed
Simi Manohar Lal Thapar was appointed as Director.
Charges
A charge with Idbi Bank Limited amounted to Rs. 10.00 Cr with Charge ID 100861907 was registered on 25 Jan 2024.
120 earlier events are in the company report.
News
AJANTPHARM: Rs. 16.84 Crores NSE Block Trade; for ~ 50,812 Shares, at Rs. 3313.90
Frequently asked questions
Ajanta Pharma is an active public limited company based in Mumbai, Maharashtra, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 31 December 1979 (47+ years old) and is registered under CIN L24230MH1979PLC022059. Listed on BSE: 532331 and NSE: AJANTPHARM.
Ajanta Pharma reported revenue of ₹5,452.86 Cr for FY 2025-26 (up 17.3% YoY) based on consolidated financials.
Ajanta Pharma has 8 current directors:
- Yogesh Mannalal Agrawal - Managing Director
- Madhusudan Bhagwandas Agrawal - Whole-Time Director
- Rajesh Mannalal Agrawal - Whole-Time Director
- Mannalal Bhagwandas Agrawal - Director
- David Paul Rasquinha - Director
- Medha Vinay Joshi - Director
- Simi Manohar Lal Thapar - Director
- Rajesh Shashikant Dalal - Director
The latest financial statements of Ajanta Pharma on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 16 July 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Ajanta Pharma is 27AAACA5579P1Z1, registered in Maharashtra. The company has 34 GST registrations in all, of which 25 are active and 9 are cancelled or inactive. Other active GSTINs include 27AAACA5579P2Z0 (Maharashtra), 03AAACA5579P1ZB (Punjab), 07AAACA5579P1Z3 (Delhi).
The CIN (Corporate Identification Number) of Ajanta Pharma is L24230MH1979PLC022059. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Ajanta Pharma is a listed company as per MCA records. Its shares are listed on both BSE (code: 532331) and NSE (symbol: AJANTPHARM).
Ajanta Pharma has 606 court cases on record: 434 filed by the company and 173 filed against it. 128 are pending. Most are in the high courts.
Ajanta Pharma was incorporated on 31 December 1979, making it 47+ years old. It is registered with the Registrar of Companies, Mumbai.
Ajanta Pharma has 47 deals on record (41 market trades, 5 secondary share transfers, 1 acquisition); the latest was in June 2026.
The peers of Ajanta Pharma by revenue are Micro Labs Limited, Aristo Pharmaceuticals Private Limited, Usv Private Limited, Eugia Pharma Specialities Limited, Natco Pharma Limited and 4 more, all in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).