Q1FY2025 Performance Highlights
- Revenues at ₹10,875m, Grew 16.7% YoY in line with FY25 Outlook
- Gross Margin improved by 264bps YoY to 61.3%
- EBITDA grew by 28.7% YoY to ₹2,170m with EBITDA margin at 20%, a growth of 187bps YoY
- US revenues at a historic high of $70m in Q1FY25, a growth of 24.5% YoY
- Q1FY25 Adjusted PAT at ₹839m and Reported PAT at ₹683m
- Reported EPS at ₹7.6 and Adj EPS at ₹9.1 for Q1FY25
Bangalore, India, July 29, 2024 – Strides Pharma Science Ltd (BSE: 532531, NSE: STAR) today announced its consolidated financial results for the quarter (Q1FY25) ended June 30, 2024.
Financial Highlights (In ₹ m)
|
Particulars |
Q1FY25 |
Q1FY24 |
YoY |
Q4FY24 |
QoQ |
|
Revenues |
10,875 |
9,320 |
16.7% |
10,583 |
2.8% |
|
Gross Margin |
6,671 |
5,470 |
21.9% |
6,421 |
3.9% |
|
Gross Margin % |
61.3% |
58.7% |
264bps |
60.7% |
67bps |
|
EBITDA |
2,170 |
1,686 |
28.7% |
2,040 |
6.4% |
|
EBITDA % |
20.0% |
18.1% |
187bps |
19.3% |
68bps |
|
Adj PAT |
839 |
295 |
670 |
||
|
Reported PAT |
683 |
(94) |
104 |
Adjusted PAT = PAT from continuing operations without JV share and exceptional items
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, ₹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.”
About Strides
Strides, a global pharmaceutical company headquartered in Bengaluru, India, is listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR). The Company mainly operates in the regulated markets and has an “in Africa for Africa” strategy and an institutional business to service donor-funded markets. The Company’s global manufacturing sites are located in India (Chennai, Puducherry, and two locations in Bengaluru), Italy (Milan), Kenya (Nairobi), and the United States (New York). The Company focuses on “difficult to manufacture” products sold in over 100 countries. Additional information is available at the Company’s website at www.strides.com.
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