Ajanta Pharma Q1 FY2027: Strong start led by India, Africa and US

Revenue from operations was INR 1,626 crore and profit after tax was INR 334 crore in Q1 FY2027.

India branded generics revenue was INR 509 crore (+24% YoY), Asia branded generics was INR 255 crore (-16% YoY), Africa branded generics was INR 295 crore (+30% YoY), US generics was INR 487 crore (+57% YoY), and Africa institutional was INR 70 crore (+83% YoY).

Management maintained guidance of mid-single-digit growth for FY2027 for the US generics business, citing expected competition and price erosion.

Management guided gross margin around 78% plus or minus 100 bps, and adjusted EBITDA margin (excluding forex loss) around 27% plus or minus 100 bps for FY2027.

FY2027 capex is guided at about INR 400 crore, including about INR 100 crore maintenance capex and about INR 300 crore for expansion at the Pithampur plant (noted as for emerging markets).

Management attributed the decline to continued geopolitical developments in the Middle East causing supply chain disruptions and delayed dispatches.

The Board approved an interim dividend of INR 32 per share (face value INR 2), amounting to about INR 400 crore total payout, with record date 5 August 2026.