Motilal Oswal: Ajanta Pharma - U.S., Africa Businesses Primarily Drive Q2 Earnings
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Motilal Oswal Report
Ajanta Pharma Ltd. delivered all-time high quarterly revenue/Ebitda/profit after tax, led by a superior performance in U.S. / branded generics in Africa.
Operational cost remained controlled, providing further support to the company’s profitability in Q2.
We have tweaked our earning per share estimate for FY21/FY22E, factoring in -
- near-term weakness in Asia/Africa,
- increasing opex with the easing of the lockdown in India,
- a healthy abbreviated new drug application pipeline, and
- better capacity utilisation.
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