How it started
History
In the early 2000s, Ajanta Pharma was identified as a significant contributor to foreign exchange earnings, alongside Reddy Labs, primarily through sales in Southeast Asia. In 2003, a joint venture between Ajanta Pharma and the Ministry of Health in Turkmenistan supplied approximately half of the country’s pharmaceutical requirements. The company also entered into joint ventures with regional governments in countries including Uzbekistan, Kazakhstan, Kyrygyzstan, and Tajikistan. These ventures were discontinued in the 2010s due to lack of profitability.
The company reported a significant loss in 2005 due to a decline in the value of its investments, which was reported to be four times its annual profit for that year. In the same year, Ajanta Pharma recorded sales of ₹13.56 billion, which was reported as the highest among Indian pharmaceutical companies at the time.
In 2015, the company’s stock performance over the preceding four years was noted for significant appreciation, and its inclusion in the BSE 500 index was reported. By 2019, the company was listed on the S&P BSE 200 index.
From Wikipedia’s article on Ajanta Pharma, shared under CC BY-SA 4.0.2