Strides Pharma Science Ltd
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]
- Market Cap ₹ 9,865 Cr.
- Current Price ₹ 1,071
- High / Low ₹ 1,231 / 769
- Stock P/E 53.7
- Book Value ₹ 356
- Dividend Yield 0.37 %
- 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 3.01 times its book value
- The company has delivered a poor sales growth of 3.25% over past five years.
- Promoter holding is low: 27.9%
- 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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: | 7% |
| 5 Years: | 24% |
| 3 Years: | 74% |
| 1 Year: | 18% |
| 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
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cumulative ANDAs Approved count |
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| Growth Markets Revenue USD Million |
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| Number of Commercialized Products in US count |
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| Number of US Products Ranked in Top 3 count |
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| Other Regulated Markets (ORM) Revenue USD Million |
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| US Business Revenue USD Million |
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Extracted by Screener AI
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Jul - Certificate As per Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
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Announcement under Regulation 30 (LODR)-Restructuring
3 Jul - Strides completed Pivot Path stake sale for ₹1,000 million; ₹750 million received, ₹250 million later.
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Announcement under Regulation 30 (LODR)-Restructuring
27 Jun - Strides to sell majority stake in Pivot Path to Ascent/Vintage for Rs 1,000 million; Rs 500 million infusion planned.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
27 Jun - Ascent Capital-led consortium invests in Pivot Path; Strides realises ₹1,000m, retains 20%, valuation ₹2,300m.
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Closure of Trading Window
24 Jun - Trading window closed from July 1, 2026 until 48 hours after Q1 FY27 results.
Annual reports
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Financial Year 2025
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Business Segments:
a) Pharma Generics:[1]
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.[2]
b) Branded Generics:[3]
The company operates in the branded generics segment in Africa with an In Africa for Africa strategy. It offers a portfolio of branded generics for chronic therapies, including
women’s health, CNS, cardiovascular, and diabetes treatments. Its established brands include Renerve, Unibrol, Combiart, Duotab, Vitafer, etc.
c) Institutional Business:
The company runs an institutional business catering to donor-funded markets, providing affordable treatments worldwide. It develops
and manufactures drugs for anti-retroviral,
anti-malarial, anti-tuberculosis, hepatitis,
and other infectious diseases. These products are distributed to disease-prone regions across Africa, Asia, and Latin America, reaching 100+ countries. [4]