Stockrabit · Analysts
Questions across 7 calls

Yogesh Agrawal

Firm not listed in source transcripts

Ajanta Pharma Limited

Ajanta Pharma Limited CC-Dec25.pdf · 2026-01-30
And for the U.S. business, we have launched 8 products in the last 12 months which we are now seeing the full year benefit of that. Plus, we have seen the increase in the market share for some few products. And also, we have one seasonal product for the flu, where basically the season starts in the December, January. So that also aided growth for the current quarter. The combination of all these three aspects, it has resulted into a very robust growth of the U.S. business.
It should be good only, but I think it will be a bit early to give the guidance from that. I think let's do that in the next quarter when we have all our plans closer and then we'll have more concrete numbers in terms of our budgets, which are finalized. B ut overall, I think the growth probably will not be in the similar line of what we have seen in current year. But I think we should be able to post double-digit growth for sure.
Ajanta Pharma Limited CC-Jun25.pdf · 2025-07-28
When can we expect meaningful what?
No. So, R&D, as you would see, the expenses have been very much in control for the current quarter. In fact, it has slightly dipped only. It became 4% of the revenue as compared to the 5% for the previous year. The focus for the R&D remains in the same therapeutic segments where we are present in India and emerging markets and also for the U.S. And continuously, we have been giving in our investor presentation also, the number of new product launches, which we are making in India and other markets. In my opening comments also I have mentioned. So, all these are outcome of our R&D only. It's a long cycle from the time we take the development of the product, then it goes for the manufacturing, generating the data, then filing with the regulatory agencies for the approval and then launches. So, all the growth which we have seen, every quarter, we have been giving the growth from the new product which is coming in. That is the result of our R&D only. So, already the meaningful results have been seen for the last 2 decades from the R&D output.
Ajanta Pharma Limited CC-Sep24.pdf · 2024-10-28
It's an increase in the market share on the existing products, and there have been new product launches which we have done. And also, we've added the people, as you would have seen from our field increase in the last 2, 3 years. So a combination of all thi s 3, it is resulting into the healthy growth numbers for the Asia.
Yes. So I think for the quarter with the growth we have posted around Rs. 300 crores odd sales. So I think it has to be fair to take that kind of run rate going forward for the next quarter.
Ajanta Pharma Limited CC-Jun24.pdf · 2024-07-30
Yes. So I think, as I mentioned, some of the sales got spilled over from the last quarter of Q4 of the previous year. And because of that, this quarter looks a bit elevated. So I think if you see that historically, our average run rate was around Rs. 155 crores to Rs. 160 crores. As I think we've given the guidance for the blended Branded Generics business across India and across all the international markets, we are looking to post a mid-double-digit growth. So I think considering Asia, Africa, we are heading towards delivering that kind of number. I think that's what is the outlook.
Plus the expenses during the quarter, they have been slightly on the lower side, which we expect that in the next 3 quarters, those expenses will slightly elevate. So that will also have an impact on the EBITDA.
Ajanta Pharma Limited CC-Mar24.pdf · 2024-05-02
Yes. So the growth which we are anticipating is assuming the growth in various markets continue and we'll get that tailwind, but it is a factor of increasing the market share in the products we have already in the market. There are a number of new product launches, which are scheduled during the year. And there will be some increase in the field size, particularly in the international market, not as much as in India. So all the combination of 3, we feel that mid -teens kind of growth is doable in the export markets. So that was one. And for the Red Sea, we have taken the correc tive measures. Primarily, it has increased the transit time by 3 weeks on an average, depending on different territories. So we are seeing the product is sitting on the sea 3 weeks more than it should. So that may kind of slightly increase our debtors in the next year. But other than that, there are no significant impact of the Red Sea so far. Other thing is the freights have gone up in some of the geographies like West Asia, the freights have gone up substantially. U.S., it has not gone up as much. Africa has gone up. So some markets, we've seen the freight increases. But other than that, I think Red Sea, I think we've been able to negotiate the challenge pretty well.
See, our guidance is based on 2 factors. One is that what will be the price erosion for the existing product portfolio. We are estimating high single digit, maybe 8% to 10% price erosion. We have about 6 new products launch planned for the next year, assuming we get the approvals from the FDA as per the timelines, GDUFA timeline. But most of the approvals are skewed towards the Q3 and Q4 launches. So Q1, we will have one launch; maybe Q2, one; and about four-odd launches will happen in Q3, Q4. So a combination of these two, we are giving an estimate of low mid-digit. If the price erosion doesn't happen as we have factored then or the approvals come earlier when we launch, the possibility of delivering a better performance does exist. And yes, coming to your question of the price erosions in the U.S., we see that the price erosions have stabilized. They are not as aggressive as what we saw during the COVID period. So we see around 8% to 10% on the base product portfolio as the price erosions are there. That again depends on the product specifics. I'm talking as a general nature where the products are -- and you would have seen in various reports there, again, shortages have gone up in U.S. for number of products. So we expect, hopefully, if the conditions remain same, the price erosion should be in the high single digit to low double digit.
Ajanta Pharma Limited CC-Dec23.pdf · 2024-01-31
No, not significantly. I think whatever guidance we have given for each of the regions, we should be able to meet that guidance. So, overall, we have seen there is a little bit increase in the transit time of the shipment. By 10 to 15 days it has increased. But we are going to wait and watch and monitor the situation. Maybe the inventory working capital may increase a little bit because the product will be sitting in transit for a longer time than the earlier months. But I think for the next quarter, we are okay to deliver the numbers what we had given the guidance so far.
Yes, absolutely. Africa, as I said in my opening remark comments, because of the inventory rationalization by our distributor, our primary sales were lower. But actually, when you see our secondary sales, they were in the mid-teens. So, there is no issue as such. And Asia also, I think for the 9 months or for the whole year, we are guiding for the low-teens. So, going forward also, we expect around the low-teens to mid-teens number for Africa and Asia.