The company, which is listed on the stock market and employs about 11,000 people, has seven manufacturing sites in India. Six of the plants make finished formulations while one manufactures active pharmaceutical ingredients. It also operates a research and development facility in Mumbai, where almost 1,000 staff are based.
A company spokesperson declined to comment on Ajanta’s plans for Ireland.
“We do not have any comments to offer at this stage,” they said.
Ajanta generated revenue the equivalent of €448m in its last financial year and €121.6m in earnings before interest, tax, depreciation and amortisation. Those figures were up 10pc and 7pc respectively on the previous period. It generated free cash flow of €67m in the last financial year.
Its branded generics segment accounted for 74pc of its revenue in the last fiscal year, up from 71pc in the previous period. Its generics business in the United States accounted for 23pc of total revenue last year, which was up 9pc. Ajanta said it expects “much better” growth in the US during the current financial year.
Ajanta sells into more than 30 countries and has more than 550 products. It has a significant focus on India and emerging markets, especially in Africa.
Its portfolio addresses a range of treatment segments such as cardiology, anti-diabetes, ophthalmology, dermatology, antibiotics, anti-malarial, pain, respiratory, gynaecology, paediatric and general health products.
India has a significant pharmaceutical industry. However, last year, US president Donald Trump announced a 100pc tariff on imported branded and patented pharmaceutical products from October 1, unless a company was building a pharmaceutical plant in the United States. Generic drugs were exempted, however.
The White House also exempted Ireland and the rest of the EU from the tariff.
The majority of the €73bn in Irish goods exports to the United States in 2024 were either pharmaceuticals or chemicals, all of which remain largely exempt from any US tariffs.
India’s pharmaceutical exports to the United States hit almost $9bn (€7.7bn) in the country’s 2025 financial year. India’s pharma sector is reportedly worth in the region of $50bn a year, accounting for 1.7pc of its gross domestic product.
Releasing second-quarter results last November, Ajanta said its revenue in the period rose 14pc, while its profit after tax was up 20pc. It said that its margins had remained resilient despite higher expenses.
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