Ajanta Pharma Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

Investors weighing an Ajanta Pharma target price for 2027 should start with where the stock sits today. At Rs 3,412.80 on 9 October 2026, it is 10.1% below its 52-week high of Rs 3,796.00 and 43.4% above its 52-week low of Rs 2,380.20. That range spans 59% from low to high, so the entry point matters as much as the Ajanta Pharma price forecast itself.

This article builds the Ajanta Pharma share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 3,927 base case and the Rs 4,753 bull case were reached, along with a downside risk level of Rs 2,750.

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Ajanta Pharma Stock Analysis: Company Overview and Key Stats

Ajanta Pharma (NSE: AJANTPHARM) has a market capitalisation of Rs 42,952 crore. In FY26 it reported revenue of Rs 5,625 crore and net profit of Rs 1,056 crore. The table collects the figures the Ajanta Pharma share price target is built on.

Metric	Value
Company	Ajanta Pharma
NSE Ticker	AJANTPHARM
CMP (9 October 2026)	Rs 3,412.80
52-Week High	Rs 3,796.00
52-Week Low	Rs 2,380.20
Market Cap	Rs 42,952 crore
PE Ratio (TTM)	37.85
Industry PE	37.59
Price to Book	9.49
Return on Equity	23.33%
Debt to Equity	0.06
EPS (TTM)	Rs 90.82
Dividend Yield	0.82%
12-Month Base Target	Rs 3,927
Bull Case	Rs 4,753
Downside Risk Level (not a target)	Rs 2,750

Why Is Ajanta Pharma Share Price Target Set at Rs 3,927 for 2027?

The base-case Ajanta Pharma stock target of Rs 3,927 applies a PE multiple of 37.85 to a forward EPS estimate of Rs 103.74. That EPS assumes 14.2% yearly growth, the pace from FY24 to FY26, and puts the target 15.1% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the Ajanta Pharma Target Price: Five Years of Results

Ajanta Pharma grew revenue from Rs 3,457 crore in FY22 to Rs 5,625 crore in FY26, a compound annual growth rate of 12.9%. Net profit grew more slowly, from Rs 712.68 crore to Rs 1,056 crore (10.3% a year), which points to margin pressure alongside the sales growth.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	3,456.67	712.68	54.96	9.50
FY23	3,841.28	587.98	45.89	7.00
FY24	4,293.31	816.17	64.77	51.00
FY25	4,742.60	920.39	73.53	28.00
FY26	5,624.93	1,056.00	84.51	28.00

FY26 revenue growth was 18.6%, faster than the four-year average of 12.9%, and net profit moved up 14.7%. EPS rose from Rs 64.77 in FY24 to Rs 84.51 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

Ajanta Pharma converted 18.8% of FY26 revenue into net profit, against 19.4% in FY25, within a five-year range of 15.3% to 20.6%. EBITDA margin was 27.9% in FY26 versus 28.5% in FY25.

In the June 2026 quarter, revenue was Rs 1,697 crore, up 27.7% from the same quarter a year earlier, while net profit of Rs 334.22 crore was up 30.9%. EBITDA came in at Rs 494.48 crore, up 30.9% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.06, and shareholders' equity grew from Rs 3,264 crore in FY22 to Rs 4,527 crore in FY26. Operating cash flow in FY26 was Rs 529.19 crore against capital expenditure of Rs 365.16 crore, leaving free cash flow of Rs 164.03 crore, or 0.4% of the current market capitalisation. In FY25 free cash flow was Rs 839.31 crore.

Valuation Check for the Ajanta Pharma Stock Target: PE, Price to Book and ROE

At a PE of 37.85 against an industry PE of 37.59, Ajanta Pharma trades in line with its industry. Price to book is 9.49 on a book value of Rs 362.28 per share, and return on equity is 23.33%. A PE of 37.85 equals an earnings yield of 2.6%, and the FY26 dividend of Rs 28.00 per share gives a yield of 0.82%.

Shareholding Pattern and Institutional Holding

Promoters held 63.48% of Ajanta Pharma in June 2026, and promoter holding fell from 66.26% in June 2025 to 63.48% in June 2026. Foreign institutional investors (FII) held 7.68% and domestic institutions (DII) held 21.80%, which puts total institutional holding at 29.48%. FII holding fell from 8.86% in June 2025 to 7.68% in June 2026. Public shareholders own the remaining 7.03%. A meaningful institutional holding adds a layer of research coverage and trading depth.

Ajanta Pharma Share Price Targets for the Short Term and 12 Months

Short Term Ajanta Pharma Stock Target Levels: Technical Setup

At Rs 3,412.80 on 9 October 2026, Ajanta Pharma trades below its 50-day simple moving average of Rs 3,544.10 and above its 200-day exponential moving average of Rs 3,194.82. The 14-day RSI reads 38.1, which is neutral territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 3,544.10 (50-day simple moving average) and the nearest support is Rs 3,194.82 (200-day exponential moving average). A sustained move above Rs 3,544.10 would improve the short-term setup, while a close below Rs 3,194.82 would shift attention to the next support.

12 Month Ajanta Pharma Target Price for 2027

The 12-month target for Ajanta Pharma is Rs 3,927: forward EPS of Rs 103.74 at a PE of 37.85. That is 15.1% above Rs 3,412.80. It would also push the stock above its 52-week high of Rs 3,796.00.

How EPS Growth and PE Multiple Change the Ajanta Pharma Target Price

EPS Growth	PE 30.28	PE 37.85	PE 43.53
0.0% (EPS Rs 90.82)	Rs 2,750	Rs 3,438	Rs 3,953
14.2% (EPS Rs 103.74)	Rs 3,141	Rs 3,927	Rs 4,516
20.2% (EPS Rs 109.19)	Rs 3,306	Rs 4,133	Rs 4,753

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Ajanta Pharma price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for Ajanta Pharma Stock Target in 2027

Bull Case Rs 4,753

The bull case Ajanta Pharma price target needs EPS growth of 20.2%, which lifts forward EPS to Rs 109.19, and a PE multiple that rises 15% to 43.53. That gives Rs 4,753, 39.3% above the current price and above the 52-week high of Rs 3,796.00, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 2,750

The downside risk level is not a target. It assumes EPS stays flat at Rs 90.82 and the PE falls 20% to 30.28. That gives Rs 2,750, 19.4% below the current price and above the 52-week low of Rs 2,380.20.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	20.2%	43.53	Rs 4,753	+39.3%
Base Case	14.2%	37.85	Rs 3,927	+15.1%
Downside Risk	0.0%	30.28	Rs 2,750	-19.4%

Key Risks to the Ajanta Pharma Target Price for 2027

Growth Slowdown Risk for the Ajanta Pharma Price Target

Revenue in the June 2026 quarter was up 27.7% year on year, and FY26 revenue growth was 18.6%. If growth slows from here, the EPS estimate behind the Ajanta Pharma stock target will need revising.

Liquidity and Size Risk

Ajanta Pharma has a market capitalisation of Rs 42,952 crore. Institutional holding is 29.48%, and promoters hold 63.48%. Stocks of this size are usually liquid, though exits can take longer than entries when the market is falling.

Valuation and Margin Risk

Net margin was 18.8% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 37.85 versus an industry PE of 37.59, a de-rating toward the downside-risk PE of 30.28 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 10.1% below its 52-week high, with an RSI of 38.1 and a MACD reading below its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in Ajanta Pharma

Start with the live price and volume. Any Ajanta Pharma share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 3,412.80 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check Ajanta Pharma's PE, ROE, debt and shareholding in one place.

Check Ajanta Pharma fundamentals on the Univest Screener

Then compare the three Ajanta Pharma target price scenarios with your own view. If you expect EPS growth below 14.2%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track Ajanta Pharma live price and get daily stock recommendations.

Conclusion

The Ajanta Pharma share price target for 2027 is Rs 3,927 in the base case, with Rs 4,753 as the bull case. The support for that view is arithmetic you can check: EPS grew 14.2% a year over FY24 to FY26, and the stock trades at a PE of 37.85. The risks are equally concrete, including a stock that sits 10.1% below its 52-week high and a downside scenario that cuts the price 19% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on Ajanta Pharma Share Price Target 2027

What is the Ajanta Pharma share price target for 2027?

Ans. The base-case Ajanta Pharma share price target for 2027 is Rs 3,927, with Rs 4,753 as the bull case. The downside risk level, which is not a target, is Rs 2,750. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the Ajanta Pharma share price today?

Ans. As of 9 October 2026, 12:52 PM IST, Ajanta Pharma trades at Rs 3,412.80, down 0.66% on the day. The 52-week range is Rs 2,380.20 to Rs 3,796.00.

Is Ajanta Pharma a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 14.2% a year over FY24 to FY26, but the stock is 10.1% below its 52-week high. Whether Ajanta Pharma fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for Ajanta Pharma shares?

Ans. The bull case target is Rs 4,753, which assumes 20.2% EPS growth and a PE of 43.53. The downside risk level is Rs 2,750, which assumes flat EPS and a PE of 30.28. It marks a risk, not a target.

What are the main risks to the Ajanta Pharma price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 42,952 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of Ajanta Pharma and how does it compare with the industry?

Ans. The PE ratio of Ajanta Pharma is 37.85 against an industry PE of 37.59. Price to book is 9.49 and return on equity is 23.33%. The base case in the Ajanta Pharma price target holds this PE constant.

Who owns Ajanta Pharma, and what is the promoter holding?

Ans. Promoters held 63.48% of Ajanta Pharma in June 2026. FII held 7.68%, DII held 21.80% and the public held 7.03%.

What were Ajanta Pharma's latest quarterly results?

Ans. In the June 2026 quarter, Ajanta Pharma reported revenue of Rs 1,697 crore (up 27.7% year on year) and net profit of Rs 334.22 crore (up 30.9%).