Shares of leading pharmaceutical company Ajanta Pharma advanced 3.70 per cent to a day’s high of Rs 3,095.05 in an otherwise weak market on Tuesday. The uptick comes ahead of the company's ex-dividend date tomorrow, driven by its recent dividend announcement that promises rewards for eligible shareholders.
In an exchange filing dated October 28, Ajanta Pharma informed the exchanges that its board of directors has approved a "1st interim dividend for FY 2025. Each share of Rs 2 face value will receive a dividend of Rs 28, amounting to Rs 350 crore."
Ajanta Pharma has set Wednesday, November 6, 2024, as the record date for payment of the 1st interim dividend. Accordingly, the company’s shares will trade ex-dividend tomorrow. The ex-date refers to when a stock begins trading without entitlement to dividends. To qualify for the dividend, investors must hold the stock before the ex-date. Companies determine the list of eligible shareholders based on records as of the close on the record date.
During the second quarter of FY25, the company’s consolidated net profit climbed 10.84 per cent to Rs 216.48 crore, with revenue from operations rising 15.38 per cent to Rs 1,186.64 crore in Q2 FY25 over Q2 FY24. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 311 crore in Q2 FY25, up 6.87 per cent from Rs 291 crore in the same quarter last year. EBITDA margin was at 26 per cent in Q2 FY25 compared to 28 per cent in Q2 FY24.
Ajanta Pharma is a leading specialty pharmaceutical company with a global footprint, serving over 30 countries. Its branded generics business spans across India, Asia, and Africa, driven by innovation and technology. The company develops, manufactures, and markets high-quality finished dosages across various therapeutic areas. As of November 5, 2024, Ajanta Pharma has a market capitalization of Rs 38,480.42 crore on the NSE. The company is a constituent of the Nifty Pharma index.
Ajanta Pharma shares have a 52-week range of Rs 3,485 to Rs 1,783.50 on the NSE.
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The pharma stock has yielded a return of 42 per cent year-to-date.
As of around 11:55 am on Tuesday, Ajanta Pharma shares were trading at Rs 3,081.65, up 3.26 per cent from the previous close. A combined total of nearly 0.01 million shares of Ajanta Pharma worth around Rs 28.52 crore exchanged hands on the NSE and BSE.