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Strides Pharma Science Results: Latest Quarterly Results & Analysis

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Strides Pharma Science Ltd. 29 Jul 2025 13:09 PM
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Q1FY26 Quarterly Result Announced for Strides Pharma Science Ltd.

Pharmaceuticals company Strides Pharma Science announced Q1FY26 results

  • Revenue at Rs 11,197 million, grew 6.2% YoY
  • Absolute gross margin at Rs 6,755 million, grew 11.7% YoY
  • Gross margin improved to 60.3%, up 300 bps YoY
  • EBITDA grew 14.8% YoY to Rs 2,181 million with EBITDA margin at 19.5%, grew 150 bps YoY
  • US revenue at $71 million, grew 7.0% YoY
  • Operational PAT at Rs 1,140 million, Grew 80.6% YoY
  • Operational EPS at Rs 12.4
  • Reported PAT at Rs 1,056 million.

Badree Komandur, MD & Group CEO, commented on the performance and said, “We are pleased to report a solid start to the year, marked by consistent growth and enhanced profitability. Our focus on cost management and diligent execution has enabled us to deliver robust results. The EBITDA margin improved to 19.5%, an increase of 150 bps YoY. Strong operating leverage contributed to the highest-ever quarterly PAT, resulting in an operational EPS of Rs 12.4. Consequently, ROCE stands at 15.1% for Q1. The company will enhance its R&D efforts during the year to drive sustainable long-term growth.”

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Pharmaceuticals company Strides Pharma Science announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue at Rs 11,904 million, grew 17.0% YoY
  • Gross margin at Rs 6,914 million, grew 18.1% YoY
  • EBITDA grew 22.0% YoY to Rs 2,179 million with EBITDA margin at 18.3%, grew 75bps YoY
  • US revenue at USD 77 million, grew 23.2% YoY
  • Operational PAT at Rs 1,130 million, Grew 5x YoY
  • Operational EPS at Rs 12.3, Grew 5x YoY

FY25 Financial Highlights:

  • Revenue at Rs 45,653 million, grew 17.2% YoY
  • Gross margin at Rs 25,854 million, grew 20.5% YoY
  • EBITDA grew 36.8% YoY to Rs 8,028 million with EBITDA margin at 17.6%, grew 252bps YoY
  • US revenue at USD 291 million, grew 21.8% YoY
  • Operational PAT at Rs 3,447 million, Grew 12x YoY
  • Operational EPS at Rs 37.5, Grew 12x YoY

Arun Kumar, Founder & Non-Executive Chairperson, and Badree Komandur, MD & Group CEO, commented on the performance and said, "We are pleased to report a strong close to FY25, having successfully exceeded the outlook communicated across all key parameters. Our FY25 revenue grew by 17.2% YoY, outperforming our guidance of 12–15%, aided by strong US business performance. We also surpassed our EBITDA outlook, delivering Rs 8,028 million in FY25, reflecting enhanced operational efficiency and margin resilience post-demerger. We reduced Net debt by Rs 5,128 million, and our Net Debt-to-EBITDA ratio improved to 1.9x, well below the outlook given. The US business recorded USD 291 million in revenue, representing 21.8% YoY growth and exceeding the outlook. This was propelled by new product launches, steady base business, and a strong commercial execution framework. We also delivered an operating PAT of Rs 3,447 million for FY25, reflecting continued focus on profitability. The Board has recommended a dividend of Rs 4 per share for FY25, reflecting our strong. As we look ahead, we remain focused on the disciplined execution of our business strategies, underpinned by strong governance and a deep commitment to ESG — all aimed at delivering superior business outcomes and creating long-term value for all stakeholders."

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Pharmaceuticals company Strides Pharma Science announced Q3FY25 results

  • Revenue at Rs 11,537 million, grew 14.6% YoY.
  • Gross margin at Rs 6,735 million, grew 25.1% YoY.
  • EBITDA grew 46.9% YoY to Rs 2,103 million with EBITDA margin at 18.2%, grew 401bps YoY.
  • US revenue at USD 73 million, grew 13.7% YoY.
  • Q3FY25 Reported PAT at Rs 900 million.
  • Reported EPS at Rs 9.56.

Arun Kumar, Founder & Executive Chairperson, and Badree Komandur, MD & Group CEO, said: “We are pleased to report strong YTD results showcasing a YoY improvement across all key metrics of growth, profitability and efficiency. Our 9MFY25 revenue increased by 17.3% YoY and EBITDA grew by 43.3% YoY despite the demerger of high margin Softgel business. For 9MFY25, the US business recorded a revenue of USD 214 million, a growth of 21.3% YoY, and is well on track to achieve the FY25 outlook of USD 275 million -USD 290 million, post-demerger. Additionally, we are proud to have debuted with an outstanding ESG rating of 76/100 in the S&P Global’s CSA, 2024. We are placed significantly ahead of our peers in the first year of ESG evaluation, underscoring our unwavering commitment to sustainability and the strength of our processes and governance. Looking ahead, we remain focused on executing our strategies to deliver superior business outcomes and drive long-term value for our stakeholders.”

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Pharmaceuticals company Strides Pharma Science announced Q2FY25 results

  • Revenues at Rs 12,011 million, grew 17.0% YoY, compared to Rs 10,264 million during Q2FY24.
  • Gross margin at Rs 7,032 million, grew 15.6% YoY.
  • EBITDA grew 31% YoY to Rs 2,358 million with EBITDA margin at 19.6%, grew 209bps YoY.
  • US revenues at a historic high of USD 75 million in Q2FY25, grew 26.2% YoY.
  • Q2FY25 Adjusted PAT at Rs 1,103 million and Reported PAT at Rs 937 million.
  • Reported EPS at Rs 10.1 and Adj EPS at Rs 12.0 for Q2FY25.

Arun Kumar, Founder & Executive Chairperson, and Badree Komandur, MD & Group CEO, said: “We continue to deliver on the momentum built over several preceding quarters and delivered another strong quarter. Q2FY25 demonstrated sustained growth across all markets fueled by new product launches. US operations reported highest ever quarterly revenue of $75m in Q2FY25. Strong YoY improvement in absolute EBITDA and EBITDA margin reflects our continued focus on operational efficiency and profitability. Significant highlights of the quarter were:

  • Release of our maiden Sustainability Report, underscoring our long-term commitment to Sustainability, ESG and responsible business practices.
  • USD 95 million fundraising commitment from marquee investors for OneSource at an 82% premium to earlier valuation, unlocking ~Rs 61,000 million (~USD 725 million) value for Strides’ shareholders.”

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Pharmaceuticals company Strides Pharma Science announced Q1FY25 results:

  • Revenues at Rs 10,875 million, Grew 16.7% YoY in line with FY25 Outlook
  • Gross Margin improved by 264 bps YoY to 61.3%
  • EBITDA grew by 28.7% YoY to Rs 2,170 million with EBITDA margin at 20%, a growth of 187 bps YoY
  • US revenues at a historic high of USD 70 million in Q1FY25, a growth of 24.5% YoY
  • Q1FY25 Adjusted PAT at Rs 839 million and Reported PAT at Rs 683 million
  • Reported EPS at Rs 7.6 and Adj EPS at Rs 9.1 for Q1FY25

Arun Kumar, Founder & Executive Chairperson, and Badree Komandur, MD & Group CEO, commented on the performance and said, “Our emphasis on profitability, efficiency and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook.

The company achieved critical thresholds of 20% EBITDA margin, Rs 683m of reported PAT and 2.3x Debt/EBITDA ratio. We are confident of sustaining the momentum with continuous improvement in the quality of business.

The company has increased its focus on digitization, automation, and ESG for better compliance and business outcomes.”

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Pharmaceuticals company Strides Pharma Science announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Highest ever quarterly Revenue of Rs 10,583 million
  • Gross Margin returned to a historic high of 60.7% in Q4FY24
  • Highest ever quarterly EBITDA of Rs 2,040 million

FY24 Financial Highlights:

  • Highest ever full-year Revenue of Rs 40,555 million in FY24, up 14.4% YoY
  • Highest ever full-year EBITDA of Rs 7,477 million in FY24, up 77.6% YoY
  • US business achieved top end of USD 250 million revenue outlook for FY24, grew by 11.8% YoY
  • Net Debt reduced by Rs 3,131 million in FY24
  • Net Debt to EBITDA improved to 2.72x in FY24

Arun Kumar, Founder, Executive Chairperson & Managing Director, commented on the performance and said, “FY24 was an exceptional year for Strides, marked by the successful completion of our Reset strategy initiated in FY22. The company achieved all its key objectives laid down in our Reset strategy and has bounced back to become a strong and resilient company.

As a result of our focus on consistent growth and cost containment, FY24 concluded as the best year in the Company’s history in terms of both Revenue and absolute EBITDA.

With today’s leadership announcement, we have introduced a well-structured succession and leadership development program, guided by the Board. I am confident that the strong internal talent we have developed over the years will ensure the company's continued long-term growth. In the near term, we will continue to focus on operating cash flows while investing in growth to ensure that the efforts of our Reset are balanced by an improved revenue CAGR, in the coming years. Our ESG efforts have started to yield results, with our EcoVadis rating improving from 30 to 44 during the first year of review. We will continue to intensify our efforts to become a more sustainable and responsible company”.

Result PDF

Pharmaceutical company Strides Pharma Science announced Q3FY24 & 9MFY24 results:

  • Reports quarterly Revenues of Rs 10,389 million in Q3FY24, up 20% YoY
  • US Business reports its best-ever quarterly performance, Revenues at $67 million
  • Consolidated EBITDA at Rs 1,950 million for the quarter, up 62% YoY, led by healthy Revenue & Gross margin expansion and among the Company’s best quarters on an absolute number basis
  • Q3FY24 gross margins at 59.5%, absolute gross margin increase of Rs 1,165 million YoY
  • Q3FY24 adjusted PAT at Rs 620 million 
  • Net Debt reduced by Rs 1,803 million during 9MFY24
  • Net Debt to EBITDA improved to 3.0x, trending ahead on Net Debt to EBITDA target < 3x for FY24

Arun Kumar, Founder, Executive Chairperson & Managing Director, commented on the performance and said, “We are delighted to announce the sustained progress in our FY24 performance, highlighted by a robust Q3FY24, where we achieved a 20% YoY revenue growth and continue to grow our EBITDA over revenues. We are optimistic about delivering the upper range of our EBITDA Outlook for FY24, laying a strong foundation for the quarters ahead.

Our revenues have surpassed Rs 1,000 crore for two consecutive quarters with an Improved EBITDA performance predominantly driven by our US operations, which recorded its highest-ever revenue of $67 million in the quarter supported by the seasonality of our product portfolio. This performance underscores our strategic approach to product launches, prioritising profitable market share sustainability. While our other regulated markets continue to exhibit strong YoY growth our Access markets business remains lumpy. We remain committed to expanding our pipeline and venturing into new territories organically to ensure our growth trajectory in the quarters to come.

We are pleased to announce the successful divestment of our Singapore facility, thereby optimising our manufacturing network. The proceeds from this corporate action has been utilised for debt reduction enabling us to achieve a debt to EBITDA of under 3 ahead of our outlook. ”

 

Result PDF

Pharmaceuticals company Strides Pharma Science announced Q1FY24 results:

  • Reports quarterly sales of Rs 9,320 million in Q1FY24, down 1% YoY
  • Q1FY24 gross margins at 58.7%, absolute gross margin increase of Rs 729 million YoY
  • Consolidated EBITDA at Rs 1,686 million, up 100% YoY with healthy EBITDA margin expansion
  • Significant optimization of operating costs resulted in improved operating leverage
  • Key businesses deliver steady performance, and cost control measures yielding results
  • Levers in place to deliver a strong performance in FY24 with improved profitability and a stronger balance sheet

Arun Kumar, Founder, Managing Director, and Executive Chairperson, commented on the performance and said, “We are pleased to report a strong start to FY24, with Q1FY24 EBITDA reaching historical highs. Our focus on profitability and efficiency is witnessed in the results as we expanded EBITDA margins by 200 bps QoQ and generated strong operating cash flows. We are on track to achieve the targets we set out for FY24 at the beginning of this year on all financial parameters.

The Regulated markets grew by 25% YoY with the US growing by 32% YoY and Other Regulated markets growing by 15% YoY. The growth is driven by a disciplined approach to product launches and sustainable market share on existing products. The emerging markets' performance had a slow start and is expected to gain traction during the year.

We are confident of sustaining the momentum in performance driven by continuous improvement in the quality of business and delivering a strong cash generation going forward.”

 

 

Result PDF

Strides Pharma Science announced Q4FY23 & FY23 results:

Q4FY23:

  • Record quarterly sales of Rs 9,904 million in Q4FY23, up 14% QoQ and YoY
  • Q4FY23 gross margins at 59.5%, up 868bps YoY, returning closer to the historical peak of ~60%
  • Q4FY23 EBITDA at Rs 1,596 million, a 33% sequential increase, and among Company’s best quarters on an absolute number basis
  • Q4FY23 EBITDA margins at 16.1%, trending positively towards the company's historical ~20% margins
  • Q4FY23 adjusted1 PAT at Rs 341 million
  • The US business reported third consecutive quarter of USD 60 million in revenues
  • Other regulated markets (ORM) recorded the highest quarterly sales of USD 48 million in Q4FY23.
  • The Board has recommended a dividend of Rs 1.5 per share

FY23:

  • Reports highest-ever annual sales of Rs 37,042 million, a 20% increase YoY.
  • FY23 gross margins at 56.1%, absolute gross margin increase of Rs 4,850 million in FY23
  • FY23 EBITDA at Rs 4,460 million, an increase of Rs 4,418 million over FY22 EBITDA.
  • FY23 Adjusted1 PAT of Rs 714 million; reported PAT impacted by one-time impairment at Stelis mainly related to Sputnik
  • US business sales at USD 232 million, an all-time high for Strides, increased 58% YoY from USD 157 million in FY22.
  • Other Regulated Markets (ORM) reported its highest sales at USD 157 million, growing 12% YoY
  • Four Successful closures of USFDA audits, including the lifting of the Warning Letter issued in 2019 for the Company’s Puducherry facility.

Arun Kumar, Founder, Executive Chairperson & Managing Director, commented on the performance and said, “We are pleased to conclude FY23 on an encouraging note. The stated plan to return to growth, enhance profitability, and reduce debt has made significant headway. From FY22 to FY23, our total revenues increased by 20%, aided by performance in regulated markets. The US market, led by new product introductions and solid base performance, generated its highest-ever revenue of USD 232 million with significant margin expansion, in line with the management outlook. The other regulated markets also performed well throughout the year and reported their highest sales. The front-end markets in the United Kingdom and the Nordics performed as anticipated, and the B2B markets grew further due to our renewed focus from the beginning of the year. On the operational front, we are delighted to announce that the USFDA has recently reclassified our Puducherry facility, giving all of our manufacturing sites a clear compliance status by the agency

On the bottom line, we saw an improvement in gross margin of 463 basis points for the year with an increase in EBITDA margin of 1190 basis points to 12.0%. The fourth quarter saw our exit EBITDA margins rise to 16.1% from 5.3% in the corresponding period last fiscal year. With the receipt of Arrotex proceeds and cash from operations, our total gross debt has reduced in FY23, and Net debt to Q4FY23 Annualized EBITDA was at 3.4x, nearing the targeted net debt to EBITDA of under 3x. We are confident in continuing FY23's growth momentum and are on track to continuously improve the quality of our earnings while strengthening our balance sheet in FY24.”

 

Result PDF

Strides Pharma Science announced Q3FY23 results:

  • Consolidated Q3FY23:
    • EBITDA at Rs 1,201 million, up 100% YoY, revenues at Rs 8,686 million, up 9% YoY.
    • Adjusted PAT at Rs 198 million; Reported PAT impacted by loss from JV and associates on account of inventory write off related to covid portfolio.
    • Strong performance in regulated markets business driven by growth across all key markets.
    • Regulated markets business crosses the US$ 100 million mark for the first time in quarterly revenues.
    • US Business reports its best-ever quarterly performance at US$ 63 million in revenues.
    • Other Regulated Markets returns to its historical growth trajectory with revenues at US$ 39 million.
    • Cost optimization drives gross margins expansion by ~800bps YoY to 57.7% and EBITDA margins expansion by ~1,330 bps YoY to 13.8%.   
    • Arrow transaction related Deferred consideration received during the quarter.

Arun Kumar, Founder, Managing Director, and Executive Chairperson, commented on the performance and said, “We are pleased to report continued momentum in our performance led by strong growth in the regulated markets. Our US operations delivered a strong quarterly performance driven by improved volume for the base products and healthy traction for recently launched products. We have launched ten new products so far during the financial year and expect the new launch velocity to continue in the near term. We continue to focus on a profitable outcome for the business and have, by design, let go of several low-margin businesses.  

The Other Regulated Markets business has bounced back strongly during the quarter, with growth across all markets. We continue to expand our footprint across key regulated markets outside the US through new customer acquisition and expansion of our product offering. The business continues to have strong order book visibility, and we are confident of the growth trajectory continuing for the Other Regulated Markets.  

Several of our cost initiatives, including R&D cost optimization, Alternate Vendor Development (AVD), Cost Improvement Programs (CIPs) along with a superior supply chain execution, have enabled us to deliver an improved margin performance with gross margins expanding ~800bps YoY to 57.7% and EBITDA margins expanding ~1,330 bps YoY to 13.8%. Adjusted PAT for the quarter was at Rs 198 million. however, reported PAT was impacted by loss from JV and associates on account of inventory write-off related to the covid portfolio.    

We have received the Arrow transaction-related deferred consideration towards the end of the quarter. The proceeds will be used to deleverage the balance sheet. We are focused on getting our Net Debt to EBITDA below 3x in the near term.”

Result PDF

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