Bangalore, January 30, 2025 – Strides Pharma Science Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2024. The results were approved by the Board of Directors in a meeting held on January 30, 2025.
Key Financial Highlights (Consolidated)
| Particulars | Q3 FY25 (₹ Million) | Q3 FY24 (₹ Million) | YoY % Change | 9M FY25 (₹ Million) | 9M FY24 (₹ Million) | YoY % Change |
|---|---|---|---|---|---|---|
| Revenue from Operations | 11,586.7 | 11,529.2 | +0.5% | 34,274.2 | 34,216.8 | +0.2% |
| EBITDA | 1,423.2 | 1,406.8 | +1.2% | 3,987.2 | 3,927.5 | +1.5% |
| Profit Before Tax | 900.4 | 722.7 | +24.6% | 2,687.1 | 2,564.4 | +4.8% |
| Net Profit (After Tax) | 517.5 | 327.6 | +57.9% | 1,465.7 | 1,385.1 | +5.8% |
- Revenue Growth: The company posted a marginal 0.5% YoY growth in Q3 revenue, reaching ₹11,586.7 million.
- Profitability Improvement: Net profit for the quarter stood at ₹517.5 million, marking a 57.9% YoY increase, aided by better operational efficiency and cost controls.
Segment-Wise Performance
- Regulated Markets (US, Europe, Australia): Continued strong performance, driven by portfolio expansion and new product launches.
- Emerging Markets (Africa, Asia, LATAM): Modest revenue growth, supported by demand recovery in key geographies.
- CDMO & Soft Gelatin Business: The demerger of this business was completed during Q3 FY25, impacting the financials retrospectively from April 1, 2024.
Corporate Developments
- Demerger Completion: The National Company Law Tribunal (NCLT) approved the demerger of the CDMO & Soft Gelatin Business, effective April 1, 2024.
- Subsidiary Updates: The company restructured its subsidiaries, merging Strides Alathur Private Limited with the holding company from April 1, 2023.
- Equity Warrants Conversion: Strides converted 1,457,310 convertible warrants into equity shares, raising ₹83.8 million for growth initiatives.
Management Commentary
R. Badree, Managing Director & Group CEO, stated:"We are pleased with our improved profitability and operational efficiencies this quarter. Our focus remains on strengthening our core business and delivering sustainable growth. The successful demerger of the CDMO & Soft Gelatin Business marks a strategic milestone that will enhance shareholder value."
Strategic Outlook
- New Product Launches: Continued expansion of its generic pipeline in the US and European markets.
- Cost Optimization Initiatives: Further reduction in manufacturing and SG&A expenses to boost margins.
- Global Expansion: Strengthening its presence in emerging markets, particularly in Africa and LATAM, with new distribution partnerships.