The company's board will consider approving the proposal for buyback of the equity shares of the company and matters related / incidental thereto.

Ajanta Pharma is a specialty pharmaceutical formulation company having branded generic business in India and emerging markets, generic business in US and institution business in Africa.

The drug maker's consolidated net profit dropped 29.9% to Rs 134.51 crore in Q3 FY23 as against Rs 191.78 crore posted in Q3 FY22. Net sales rose 16% year on year to Rs 971.77 crore in quarter ended 31 December 2022.