The Board of Directors of Ajanta Pharma Limited at its meeting held on November 3, 2020, has approved a proposal of buyback along with the Q2FY21 Results.
Buyback Details
|
Buy Back Size (In Cr.) |
135.97 |
|
Number of Shares |
735000 |
|
Buyback Offer Size |
0.84% of Total number of shares |
|
FV (In Rs.) |
2 |
|
Buyback Price (In Rs.) |
1850 |
|
Closing on announcement day |
1609 |
|
Premium |
14.9% |
|
Record Date |
November 13, 2020 |
About Ajanta Pharma
Ajanta Pharma Limited (APL) is a multinational company based in India engaged in the development, manufacturing, and marketing of pharmaceutical formulations.
It has a presence in India, the United States, and about 30 other countries in Africa, Asia, the Middle East, and CIS. It was established in 1973.
They serve a wide range of therapeutic segments like Anti-Biotic, Anti-Malarial, Anti-Diabetic, Cardiology, Gynecology, Orthopedics, Pediatric, Respiratory & General Health products.
Q2 FY21 Performance Highlights
- On a consolidated basis, the company’s net profit increased 46.29% to Rs 170.22 crore on an 11.38% rise in revenue from operations to Rs 715.91 crore in Q2 September 2020 over Q2 September 2019.
- Profit before tax (PBT) jumped 54.27% to Rs 249.24 crore in Q2 September 2020 over Q2 September 2019.
- EBITDA rose 54% to Rs 274 crore in Q2 September 2020 over Q2 September 2019. EBITDA is at 38% of revenue from operations.
- Total exports in Q2 September 2020 were at Rs 499 crore, a growth of 12% year-on-year. During Q2 September 2020, R&D expenses declined 27.5% to Rs 29 crore (4% of revenue) from Rs 40 crore in Q2 September 2019.
- The board has also approved payment of an interim dividend of Rs 9.50 per equity share along with results and Buyback, the record date is on 13 November 2020.
Financials
|
(In Cr.) |
Sep-20 |
Jun-20 |
Mar-20 |
Dec-19 |
|
Revenue |
676.51 |
560.85 |
560.68 |
530.55 |
|
Total Income |
762.75 |
573.95 |
614.78 |
581.72 |
|
Interest |
-1.35 |
-1.2 |
-2.93 |
-0.84 |
|
Tax |
-83.31 |
-42.78 |
-41.11 |
-57.45 |
|
Net Profit |
225.22 |
115.69 |
88.51 |
108.32 |
|
Equity |
17.54 |
17.54 |
17.54 |
17.54 |
|
EPS |
25.81 |
13.26 |
10.14 |
12.41 |
|
NPM % |
33.29 |
20.63 |
15.79 |
20.42 |
Pre-Buyback shareholding pattern as of October 30, 2020
Minimum Acceptance Ratio
|
Shares Reserved for Retail |
1,10,250 (15% of 735000) |
|
Total Retail Shares |
63,58,011 |
|
Minimum Acceptance Ratio Retail |
1.73% |
|
Non – Retail Shares |
6,24,750 (85%) |
|
Minimum acceptance Ratio Non-Retail (Approx.) |
0.77% |
- To be eligible for the buyback the investor should have shares of Ajanta Pharma in Demat or physical form as on record date.
- Investment should be less than equal to Rs. 2 Lacs to qualify as a retail Investor.
- The final Acceptance ratio for the retail and non-retail category is calculated as the ratio of the number of shares offered in each category divided by the total number of shares tendered in each category.
- Prior to this buyback, Ajanta Pharma has done buyback in February 2019 at a price of 1300.
Profit from Buyback based on acceptance ratio
For Retail Investors =2,00,000/1850=108
Buy 108 Shares at Rs.1573 (Closing of 9th Nov’20)
|
Acceptance Ratio |
33% |
50% |
75% |
100% |
|
Amount Invested in Buyback |
169884 |
169884 |
169884 |
169884 |
|
No. of Shares buyback |
36 |
54 |
81 |
108 |
|
BuyBack Profit |
9872 |
14958 |
22437 |
29916 |
|
Profit |
5.81% |
8.80% |
13.21% |
17.61% |
