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 18.4
  • Book Value 337
  • Dividend Yield 0.35 %
  • ROCE 18.6 %
  • ROE 20.4 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 20.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 57.2%

Cons

  • Stock is trading at 3.42 times its book value
  • The company has delivered a poor sales growth of 7.94% over past five years.
  • Tax rate seems low
  • Promoters have pledged 27.3% of their holding.

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
986 930 999 1,006 1,044 1,054 1,167 1,154 1,190 1,120 1,221 1,195 1,323
871 796 889 876 874 866 983 943 973 902 990 959 1,084
Operating Profit 115 134 111 129 169 188 184 210 218 218 231 236 240
OPM % 12% 14% 11% 13% 16% 18% 16% 18% 18% 19% 19% 20% 18%
20 3 -129 60 -27 3,299 25 4 -12 0 18 104 3
Interest 81 76 79 70 71 73 74 52 50 47 46 43 42
Depreciation 61 60 60 49 48 47 48 48 49 49 50 51 53
Profit before tax -7 0 -157 70 23 3,369 86 114 106 122 153 245 148
Tax % 106% 3,025% -5% 23% 55% 1% 16% 21% 20% 13% 14% 15% 13%
-14 -9 -149 54 10 3,350 72 90 86 106 132 208 129
EPS in Rs -1.06 -0.79 -14.54 5.40 1.98 364.69 7.81 9.54 8.91 10.80 13.84 21.93 13.77
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,196 2,861 2,755 2,845 2,178 2,752 3,316 3,070 3,688 3,890 4,565 4,859
967 2,486 2,228 2,448 1,982 2,338 2,779 3,201 3,544 3,362 3,763 3,933
Operating Profit 229 374 527 398 197 414 537 -131 145 528 803 925
OPM % 19% 13% 19% 14% 9% 15% 16% -4% 4% 14% 18% 19%
874 63 291 643 303 -43 109 -112 92 -100 3,313 124
Interest 47 168 183 196 79 156 150 177 261 280 249 179
Depreciation 64 131 126 154 117 174 206 233 243 214 192 202
Profit before tax 992 137 509 690 303 42 289 -653 -268 -65 3,675 669
Tax % 15% 31% 12% 1% -9% 27% 11% -27% -21% 45% 2% 14%
844 95 446 684 330 31 258 -474 -212 -94 3,598 575
EPS in Rs 141.78 12.15 44.71 74.25 36.27 4.06 29.93 -51.25 -22.44 -7.68 389.75 60.34
Dividend Payout % 76% 41% 10% 3% 8% 345% 8% 0% -7% -33% 1% 8%
Compounded Sales Growth
10 Years: 5%
5 Years: 8%
3 Years: 10%
TTM: 6%
Compounded Profit Growth
10 Years: 16%
5 Years: 21%
3 Years: 71%
TTM: -84%
Stock Price CAGR
10 Years: 8%
5 Years: 25%
3 Years: 89%
1 Year: 58%
Return on Equity
10 Years: 22%
5 Years: 31%
3 Years: 57%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,085 2,569 2,659 2,374 2,559 2,438 2,687 2,269 2,122 2,034 2,460 3,015
892 3,542 3,700 2,520 3,221 2,235 2,348 3,025 3,030 2,517 1,880 1,758
438 1,211 1,598 1,601 1,937 1,369 1,844 1,556 1,352 1,157 1,498 2,062
Total Liabilities 2,475 7,410 8,046 6,585 7,807 6,131 6,969 6,940 6,594 5,799 5,929 6,927
701 2,679 2,980 2,977 3,648 2,099 2,219 2,347 2,311 1,865 1,899 2,387
CWIP 171 815 780 620 453 413 447 291 151 162 207 161
Investments 630 1,341 1,525 588 702 549 697 540 490 303 409 291
972 2,576 2,762 2,400 3,005 3,070 3,605 3,762 3,642 3,470 3,414 4,088
Total Assets 2,475 7,410 8,046 6,585 7,807 6,131 6,969 6,940 6,594 5,799 5,929 6,927

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
83 73 288 187 60 205 481 -258 44 701 684 703
50 -2,205 -1,222 570 -145 1,321 -522 -119 302 -150 -90 -173
-421 2,944 338 -1,016 194 -1,709 -16 421 -214 -693 -643 -453
Net Cash Flow -288 812 -596 -259 110 -184 -56 45 133 -142 -48 76
Free Cash Flow -157 -293 -386 -212 -256 58 188 -326 -43 672 510 291
CFO/OP 61% 40% 66% 61% 59% 60% 60% 199% -30% 128% 77% 84%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 119 132 132 113 165 124 122 144 129 107 96 97
Inventory Days 135 149 209 146 294 254 329 285 257 235 236 305
Days Payable 153 188 221 188 299 259 323 260 220 178 190 244
Cash Conversion Cycle 102 92 120 71 160 119 128 168 165 164 141 157
Working Capital Days -91 6 -122 -4 -70 -70 -22 -28 -11 -19 24 38
ROCE % 57% 8% 11% 16% 2% 5% 8% -5% -0% 7% 15% 19%

Insights

In beta
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
x
Cash to Cash Cycle
Days
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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