Ajanta Pharma Share Price: 20.7% CAGR in 3 Years as the Branded Generics Specialist Faces Torrent Pharma and Lupin
- November 12, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Ajanta Pharma Share Price: 20.7% CAGR in 3 Years as the Branded Generics Specialist Faces Torrent Pharma and Lupin
Ajanta Pharma previous close Rs 3,319.60. 3-year CAGR 20.7%. Up 1.8x since 10 Nov 2023. ROE 25.99%. Market cap Rs 41,443 crore.
Quick Answer
The Ajanta Pharma share price closed at Rs 3,319.60 on 11 November 2026, a compounded annual return of 20.7% over three years. That compares with Torrent Pharmaceuticals at 32.3% and Lupin at 19.7%. The company has a market cap of Rs 41,443 crore and a P/E of 32.82 against an industry P/E of 40.71.
The Ajanta Pharma share price has delivered a strong return over three years, and the company earns one of the highest returns on equity among Indian drug makers. Ajanta Pharma, based in Mumbai, focuses on branded generics for specialty areas such as ophthalmology, dermatology, cardiology and pain.
This article compares that run with Torrent Pharmaceuticals and Lupin. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the Ajanta Pharma Share Price Returned in 3 Years?
The Ajanta Pharma stock closed at Rs 1,887.85 on 10 November 2023 and at Rs 3,319.60 on 11 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.76 lakh, which is a CAGR of 20.7%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Ajanta Pharma can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Ajanta Pharma share price has also followed the steady growth of its branded business in India, Asia and Africa and the addition of new products in specialty therapy areas.
Ajanta Pharma vs Torrent Pharmaceuticals and Lupin: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 11 November 2026.
| Company | Close on 10 Nov 2023 | Previous close (11 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Torrent Pharmaceuticals | Rs 2,058.20 | Rs 4,761.00 | 2.3x | 32.3% |
| Ajanta Pharma | Rs 1,887.85 | Rs 3,319.60 | 1.8x | 20.7% |
| Lupin | Rs 1,180.15 | Rs 2,023.40 | 1.7x | 19.7% |
The Ajanta Pharma stock ranks second of the three at 20.7%. It sits ahead of Lupin (19.7%). The company ahead is Torrent Pharmaceuticals (32.3%). Torrent Pharma leads the group, followed by Ajanta Pharma and then Lupin. Ajanta Pharma is the smallest of the three by market cap, yet it carries the highest ROE.
Look at the Ajanta Pharma share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Torrent Pharmaceuticals | Rs 1,81,169 crore | 86.32 | 40.71 | 11.42% | 0.77 |
| Lupin | Rs 92,419 crore | 17.70 | 40.71 | 21.65% | 0.26 |
| Ajanta Pharma | Rs 41,443 crore | 32.82 | 40.71 | 25.99% | 0.03 |
By market cap, Torrent Pharmaceuticals is the largest of the group at Rs 1,81,169 crore, while the Ajanta Pharma stock stands at Rs 41,443 crore, about 23% of that size. On earnings, Ajanta Pharma shares trade at a P/E of 32.82 against an industry P/E of 40.71, a discount of about 19% to the sector, which leaves room if earnings keep growing. Peer multiples are Torrent Pharmaceuticals at 86.32 and Lupin at 17.70.
Return on equity is 25.99% for the Ajanta Pharma stock, which ranks first among the three, and debt to equity stands at 0.03. Trailing EPS is Rs 101.06. Specialty-focused drug makers are valued on the stickiness of their brands, so the P/E should be read together with return on equity and the debt position.
What Is Driving the Ajanta Pharma Stock?
Ajanta Pharma sells branded medicines to specialist doctors in India and across Asia and Africa. Brands in eye care, skin care and heart care build repeat prescriptions, which supports steady growth.
The company also sells generic products in the United States and has invested in new manufacturing capacity. It carries almost no debt, and its margins are higher than many peers of its size.
Followers of the Ajanta Pharma share price usually track growth in the India business, performance in Africa and Asia, US generics and operating margins.
How the Established Players Stack Up
Torrent Pharmaceuticals is an Ahmedabad-based drug maker from the Torrent Group with strength in cardiac and central nervous system medicines in India. It compounded at 32.3% a year, on a market cap of Rs 1,81,169 crore and an ROE of 11.42%.
Lupin is a Mumbai-based pharma company with strength in respiratory, cardiac and anti-infective medicines and a large export business. It compounded at 19.7% a year, on a market cap of Rs 92,419 crore and an ROE of 21.65%.
What Should Investors Track Next?
Three things are worth watching on the Ajanta Pharma share price. First, growth in the India branded business. Second, the pace of new launches in Asia and Africa. Third, margins as capacity expands.
At a P/E of 33, the stock trades below the industry P/E of 41, and its debt to equity of 0.03 is almost nil. Emerging market currencies can affect results, so follow quarterly numbers closely.
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How to Compare Pharma Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Ajanta Pharma stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Ajanta Pharma share price, the same four checks give a more complete picture than price alone.
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A Specialty Brand Maker With the Highest ROE in the Group
The Ajanta Pharma share price compounded at 20.7% a year over three years, ahead of Lupin at 19.7% and behind Torrent Pharma at 32.3%. Its ROE of 25.99% is the highest of the three and its debt is almost nil.
Torrent Pharma brings the faster return at a much higher multiple, while Lupin brings the lowest P/E. The choice depends on which business mix you prefer.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Ajanta Pharma share price today?
Ans. Ajanta Pharma closed at Rs 3,319.60 on 11 November 2026, according to NSE data. It has a market cap of Rs 41,443 crore and a P/E of 32.82. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Ajanta Pharma stock?
Ans. Ajanta Pharma delivered a price CAGR of 20.7% over three years, moving from Rs 1,887.85 on 10 November 2023 to Rs 3,319.60 on 11 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Ajanta Pharma better than Lupin?
Ans. Ajanta Pharma delivered a higher three-year CAGR at 20.7% than Lupin at 19.7%. Lupin is larger by market cap at Rs 92,419 crore against Rs 41,443 crore and trades at a lower P/E of 17.70 against 32.82, while Ajanta Pharma has a higher ROE at 25.99% against 21.65%. The better choice depends on your view of each business.
What does Ajanta Pharma do?
Ans. Ajanta Pharma is a Mumbai-based drug maker that sells branded generics in ophthalmology, dermatology, cardiology and pain management across India, Asia and Africa.
Is the Ajanta Pharma stock debt free?
Ans. The debt to equity ratio of the Ajanta Pharma stock is 0.03 and its return on equity is 25.99%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Ajanta Pharma expensive compared with the industry?
Ans. Ajanta Pharma trades at a P/E of 32.82 against an industry P/E of 40.71. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which pharma stock gave the highest return in 3 years?
Ans. Among the companies compared here, Torrent Pharmaceuticals delivered the highest three-year CAGR at 32.3%, followed by Ajanta Pharma at 20.7%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.