Ajanta Pharma shares jump over 13% on strong Q4 results, buyback plans

EBITDA for the quarter came in at Rs 278 crore against Rs 149 crore, up 86%. EBITDA margin came in at 26%.

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said its board has approved buyback of up to 10,28,881 fully paid-up shares of face value of Rs 2 each by the company, representing 0.82% of the total number of shares, at a price of Rs 2,770.

During the fiscal year, the company distributed a total of Rs 642 crore to its shareholders in the form of dividend. This translated to a dividend yield of 2.28%, calculated based on the closing price as of March 31, 2024.

For the year ended March 31, 2024, the company posted a consolidated net profit of Rs 816 crore as against Rs 588 crore in the 2022-23 fiscal year. Meanwhile, for the year, it generated a cash flow of Rs 812 crore with an impressive cash conversion ratio of 69%.

"Given this strong financial position, the board of directors has approved the distribution of Rs 351 crore to shareholders in the form of a buyback, including tax. This buyback will involve the purchase of 10,28,881 equity shares at a price of Rs 2,770 per equity share, constituting 0.82% of the total paid-up equity share capital," the company said.

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