Ajanta pharma reported numbers in line with market expectation for Q1FY2022. Revenue from operation was up by 12% which is above the expectation, company has reported a dip in EBITDA margins, and reported EBITDA of ₹220 crores. Domestic market growth is back on track and reported domestic growth of 32% is in line with the industry growth. The company has reported export growth of 6%, US generics reported growth of 13% despite the dip in growth reported by other domestic pharma companies due to price erosion in US market.
Company has a robust pipeline for US generic business, we expect US business and Domectic business to continue their momentum in the next quarter. We have a positive view on Ajanta Pharma.
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