Strides Pharma Science Ltd

Strides Pharma Science Ltd

₹ 1,153 -0.51%
22 May - close price
About

Strides Pharma Science Ltd is in the business of development and manufacturing of pharmaceutical products.[1] The company's pharmaceutical products are sold in over 100 countries.[2]
The company has always followed an inorganic growth strategy over the years that resulted in foray into new markets, addition of new business segments, therapy segments and manufacturing infrastructure.[3]

Key Points

Business Segments
1) Pharma Generics: Its generic pharma business is driven by IP-based product licensing and global marketing and distribution partnerships. It specializes in manufacturing niche generic formulations in various dosage forms, like tablets, capsules, liquids, and sachets, focusing on regulated markets including the United States, Europe, Australia, etc. It has emerged as one of the world’s leading producers of soft gelatin capsules. [1] [2]

  • Market Cap 10,629 Cr.
  • Current Price 1,153
  • High / Low 1,231 / 688
  • Stock P/E 57.9
  • Book Value 356
  • Dividend Yield 0.35 %
  • ROCE 7.15 %
  • ROE 5.67 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 19.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.9%
  • Company has been maintaining a healthy dividend payout of 26.0%

Cons

  • Stock is trading at 3.24 times its book value
  • The company has delivered a poor sales growth of 3.25% over past five years.
  • Tax rate seems low
  • Promoters have pledged 27.3% of their holding.
  • Earnings include an other income of Rs.123 Cr.
  • Company has high debtors of 255 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
564 475 553 380 603 586 520 551 556 499 522 554 606
444 420 514 378 492 520 464 477 488 431 460 472 531
Operating Profit 119 56 38 1 111 66 55 74 68 67 62 81 74
OPM % 21% 12% 7% 0% 18% 11% 11% 13% 12% 13% 12% 15% 12%
11 12 19 60 -1 8 24 2 12 2 14 103 4
Interest 43 37 42 36 39 48 42 34 29 30 29 27 27
Depreciation 23 21 23 22 22 22 21 21 22 22 22 22 25
Profit before tax 65 9 -7 3 49 4 16 21 28 16 25 135 27
Tax % 4% 12% -1% 112% -6% 33% -5% 30% 43% 19% -26% 10% 38%
62 8 -7 -0 52 2 17 15 16 13 32 122 16
EPS in Rs 6.91 0.89 -0.75 -0.04 5.65 0.26 1.88 1.62 1.75 1.45 3.48 13.23 1.77
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
929 2,162 1,382 1,470 1,537 1,692 1,858 1,979 1,854 1,866 2,139 2,180
795 1,894 1,255 1,271 1,402 1,487 1,698 1,902 1,755 1,715 1,877 1,895
Operating Profit 134 268 127 199 135 205 159 77 100 151 263 285
OPM % 14% 12% 9% 14% 9% 12% 9% 4% 5% 8% 12% 13%
619 82 154 860 111 93 117 123 68 122 2,873 123
Interest 34 103 72 82 54 67 65 74 139 139 146 114
Depreciation 49 103 70 78 83 94 99 104 94 87 85 91
Profit before tax 669 145 139 899 109 136 112 22 -65 46 2,905 203
Tax % 20% 10% 22% 1% -1% 12% 30% -738% -107% 3% 1% 10%
532 130 109 892 110 120 78 180 5 45 2,886 184
EPS in Rs 89.32 14.58 12.14 99.62 12.33 13.42 8.72 20.07 0.52 4.85 313.04 19.92
Dividend Payout % 121% 34% 37% 2% 24% 104% 29% -0% 289% 52% 1% 25%
Compounded Sales Growth
10 Years: 0%
5 Years: 3%
3 Years: 6%
TTM: 2%
Compounded Profit Growth
10 Years: 7%
5 Years: 20%
3 Years: 106%
TTM: -94%
Stock Price CAGR
10 Years: 9%
5 Years: 25%
3 Years: 87%
1 Year: 58%
Return on Equity
10 Years: 14%
5 Years: 20%
3 Years: 31%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 60 89 89 90 90 90 90 90 90 92 92 92
Reserves 1,415 3,068 3,143 3,073 3,167 3,069 3,158 3,317 3,365 3,436 3,101 3,191
405 1,545 1,608 606 811 902 917 1,284 1,414 1,688 1,202 1,184
273 602 641 517 595 616 1,056 743 750 687 636 928
Total Liabilities 2,152 5,304 5,481 4,285 4,663 4,677 5,221 5,434 5,620 5,902 5,031 5,396
394 984 1,194 564 574 651 644 617 597 747 767 882
CWIP 39 180 158 144 122 112 111 56 55 107 106 84
Investments 968 2,447 2,520 1,777 2,149 2,171 2,395 2,400 2,492 2,364 1,848 1,868
750 1,693 1,609 1,801 1,818 1,743 2,072 2,361 2,476 2,684 2,311 2,561
Total Assets 2,152 5,304 5,481 4,285 4,663 4,677 5,221 5,434 5,620 5,902 5,031 5,396

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
207 83 412 66 40 138 283 -283 242 -14 421 278
305 -1,062 -883 433 -166 63 -276 19 -183 -69 -138 -69
-802 1,571 -67 -707 123 -204 -49 251 11 93 -370 -199
Net Cash Flow -290 592 -538 -208 -3 -3 -42 -13 70 11 -86 10
Free Cash Flow 139 -185 170 -127 -42 68 196 -350 161 -89 269 116
CFO/OP 191% 49% 352% 42% 57% 83% 73% -397% 142% -45% 114% 98%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 101 117 143 112 138 141 161 239 257 306 248 255
Inventory Days 110 113 204 126 197 189 254 170 168 188 145 191
Days Payable 133 148 234 183 212 200 271 213 220 205 163 225
Cash Conversion Cycle 77 82 112 55 123 130 144 196 205 289 230 220
Working Capital Days 33 28 -61 1 -14 -37 16 22 48 41 83 83
ROCE % 9% 6% 5% 24% 4% 5% 4% 2% 2% 2% 5% 7%

Insights

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Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
US FDA ANDA Approvals (Annual)
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US FDA ANDA Filings (Annual)
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Commercialized Products (US Market)
Number
Number of Manufacturing Facilities
Number
USFDA Approved Facilities
Number
Products Ranking in Top 3 (US Market)
Number
Fixed Asset Turnover Ratio
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Cash to Cash Cycle
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Total Manufacturing Capacity
Billion Units

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
28.08% 27.79% 27.39% 25.88% 25.86% 25.84% 26.82% 28.30% 28.30% 27.86% 27.86% 27.91%
16.72% 17.25% 19.45% 24.57% 26.71% 30.08% 28.48% 28.32% 28.02% 28.51% 29.52% 28.68%
19.60% 19.50% 19.02% 17.66% 18.17% 18.24% 16.92% 13.72% 13.30% 12.98% 13.02% 14.44%
0.40% 0.40% 0.39% 0.39% 0.39% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
35.22% 35.06% 33.75% 31.52% 28.87% 25.83% 27.78% 29.65% 30.38% 30.62% 29.59% 28.96%
No. of Shareholders 1,12,7751,01,63891,18284,69591,91796,0091,14,23695,12592,88991,20685,58986,616

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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