Ajanta Pharma Management Meet Update; Pure Branded Play – Ideal candidate for re-rating; Emkay

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Ajanta Pharma Management Meet Update; Pure Branded Play – Ideal candidate for re-rating; Not Rated;

n    Focus on branded generics in the domestic and the exports emerging market. Gearing for entry into the regulated market of US

n    Higher thrust on domestic business by launching 10-12 new products & 10-15 line extensions per year to fuel 16-18% growth in domestic business over the next 2-3 years

n    RoE of 24.5x, RoIC of 19.4x, asset turnover of 1.2x and working capital position of 171 days provide comfort to investors 

n    With pure branded profile, 15-18% sales CAGR going forward and entry into regulated market through capacity expansion makes it an ideal candidate for re-rating