Ajanta Pharma ended FY20 on a healthy note with 15

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uk canada goose The stock closed at Rs 1,490.80, up Rs 48.60, or 3.37 percent amid high volumes on the BSE.Ajanta Pharma ended FY20 on a healthy note with 15 percent earnings growth (against 12 percent compounded earnings decline over FY17 19), led by sales revival in Asia, Africa and new introductions in the US market.”The COVID led disruption could be a dampener for earnings growth in FY21, and accordingly, we have cut our EPS estimate for FY21 by 6 percent; our EPS estimate for FY22E remains unchanged. Rolling our price target to 22x 12M forward earnings, we arrive at a price target of Rs 1,700 (from Rs 1,635 earlier), said Motilal Oswal while reiterating buy on the stock.Ajanta Pharma has reported a 45 percent year on year growth in March quarter profit at Rs 129.2 crore on revenue of Rs 682 crore that increased sharply by 32.4 percent YoY driven by exports. During the quarter, Ajanta Pharma had forex gain of Rs 40 crore in other income.Within exports, US generic sales were up 88 percent and emerging markets sales grew 38 percent YoY. uk canada goose

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