Ajanta Pharma Limited Buyback 2024
1. Global Presence: Ajanta Pharma is a prominent specialty pharmaceutical company, distributing quality medicines to over 30 countries worldwide. The company is recognized for its leadership in numerous molecules and therapeutic segments, often being the first to market new products.
2. Advanced Manufacturing Facilities: The company operates seven state-of-the-art manufacturing facilities in India, including six that produce finished formulations and one dedicated to manufacturing Active Pharmaceutical Ingredients (APIs), mainly for internal use.
3. Regulatory Approvals: Ajanta Pharma’s manufacturing facilities, particularly in Paithan, Maharashtra, and Dahej, Gujarat, have received approvals from stringent regulatory authorities like the US FDA and the World Health Organization (WHO), underscoring the company’s commitment to quality.
4. Trusted by Professionals: The company’s high-quality medicines are trusted by healthcare professionals and patients alike in more than 30 countries, reflecting its strong reputation in the global market.
5. Robust Supply Chain: Ajanta Pharma ensures consistent availability of its medicines through a robust supply chain, crucial for daily healthcare needs across its markets.
6. Diversified Business Model: The company’s business model includes Branded Generics in India and Emerging Markets in Asia and Africa; Generics in the USA; and Institution Sales in Africa. This diversification helps in making the business model scalable and sustainable.
Buy Back Offer Deal:
Buyback Type: | Tender Offer |
Buyback Record Date: | May 30 2024 |
Buyback Offer Amount: | ₹ 285 Cr. |
Date of Board Meeting approving the proposal: | May 02 2024 |
Date of Public Announcement: | May 02 2024 |
Buyback Offer Size: | 0.82% |
Buyback Number of Shares: | 10,28,881 |
FV: | 2 |
Buyback Price: | ₹ 2770 Per Equity Share |
Details of Buyback:
Salient financial parameters:
Particulars (In Cr) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
Sales + | 2,055 | 2,588 | 2,890 | 3,341 | 3,743 |
Expenses + | 1,489 | 1,904 | 1,889 | 2,408 | 2,934 |
Operating Profit | 567 | 683 | 1,001 | 933 | 808 |
OPM % | 28% | 26% | 35% | 28% | 22% |
Other Income + | 21 | 88 | 24 | 112 | 74 |
Interest | 1 | 12 | 8 | 10 | 6 |
Depreciation | 72 | 96 | 116 | 125 | 131 |
Profit before tax | 514 | 664 | 900 | 909 | 745 |
Tax % | 25% | 30% | 27% | 22% | 21% |
Net Profit + | 387 | 468 | 654 | 713 | 588 |
EPS in Rs | 29.56 | 35.73 | 50.38 | 55.63 | 45.89 |
Dividend Payout % | 20% | 24% | 13% | 11% | 15% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
Acceptance Ratio | 33% | 50% | 75% | 100% |
Amount Invested in Buyback | 160200 | 160200 | 160200 | 160200 |
No. of Shares Buyback | 24 | 36 | 54 | 72 |
Buyback Profit | 13080 | 19620 | 29430 | 39240 |
Profit% | 8.16% | 12.25% | 18.37% | 24.49% |
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Bought 100@2215 on 29 Apr and exited today @2540 booked profit today
1. Last time buyback was for 2210526 no of shares but this time it is for 10,28,881 no of shares.
2. Time buyback price is more attractive (24.5 ℅ compared to last year 18.75℅).
3. Shareholding pattern is more or less same.
4. Last time AR was 45℅.
Keeping all these things mind I think this year AR will be 15-18 ℅.
ER will be around 8-10 ℅
Nicely analysed. Agree with you. A R may be less than 15 percent in my view unless Q4 result is very good to push the price higher.
What could be the ER and AR for the buyback and is it advisable to participate in it?
1. Last time buyback was for 2210526 no of shares but this time it is for 10,28,881 no of shares.
2. Time buyback price is more attractive (24.5 ℅ compared to last year 18.75℅).
3. Shareholding pattern is more or less same.
4. Last time AR was 45℅.
Keeping all these things mind I think this year AR will be 15-18 ℅.
AJANTA PHARMA Tender Buyback Approved
Buyback Price : 2,770 ₹
Today’s Closing Price : 2,234 ₹
Buyback Size ₹ : 285 Crore
Buyback Size in Shares : 10,28,881 Shares
Retail Quota : 1,54,333 Shares
Record Date for Buyback : 30 May, 2024
good for 1 share strategy
Buyback Price :- 2770 per share
Buyback Size :- 10,28,881
Record Date :- 30th May, 2024
Bajaj consumer : board meeting to consider buyback on 8th may
Participating with full retail quota.Bought some today. Ajantapharma has been doing buyback quite regularly and I have participated . Never been disappointed.
This time the buyback size is very small and margin is high. May not participate since the A R is likely to be low. Sold my holding yesterday itself at the opening price of 4540/ and made handsome gains.