Ajanta Pharma consolidated income and profit growth is steadily dropping and now down to mid teens for revenue growth. Where is the future growth going to come from? For pharma all roads lead to US but that road is increasingly being paved with thorns.
Growing margins have partially offset slowing sales growth so profit growth is still respectable 22% but margins cannot grow forever.
Source: Company Annual Reports
Same information from company’s investor presentation.
Both charts are correct, just a difference of perspective.