Strides Pharma Q4 Results: Pharma co reports Rs 10.4 crore net profit

Strides Pharma Science on Wednesday reported 10.4 crore net profit in the quarter ended March 31, 2024.

The company reported a loss of Rs 1 crore in the corresponding quarter of the previous year. The net profit before tax stood at Rs 29.6 crore in Q4FY24.

Strides recorded highest ever quarterly revenue from operations quarterly at Rs 1058.3 crore in Q4FY23, up 2% YoY.


The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 4.6% to Rs 204 crore in Q4FY24. The EBITDA margin expanded 51 basis points to 19.3%.

For the full year FY24, Strides revenue grew 14.4% YoY to Rs 4055.5 crore. The
net loss narrowed from 218 crore in FY23 to 94.3 crore in FY24. The EBITDA margin expanded 656 basis points YoY to 18.4%.

The company said in FY24 it reduced the net debt Rs 313 crore. The net debt to EBITDA improved to 2.72x in FY24.

The US business grew 5.5% YoY to Rs 509.7 crore in revenues in Q4FY24, while other regulated markets recorded 1% drop in revenues to 335.6 crore.

The company said the US sales grew despite a very weak flu season in Q4FY24 which was offset by generic Suprep launch.

Strides announced that it has received “no objection” from stock exchanges on May 21 for its OneSource listing.

OneSource was formed with the demerger of oral soft gelatin business and identified CDMO business into Stelis. The company said the filing with the NCLT to be completed in Q1FY25.

"As a result of our focus on consistent growth and cost containment, FY24 concluded as the best year in the company’s history in terms of both revenue and absolute EBITDA," said said Arun Kumar, founder, executive chairperson & managing director of Strides.

"In the near term, we will continue to focus on operating cash flows while investing in growth to ensure that the efforts of our reset are balanced by an improved revenue CAGR, in the coming years," Kumar added.

Strides on Wednesday announced the elevation of Badree Komandur as managing director and CEO from June 1, 2024. Komandur is currently the CFO of the company. Vikash Kumar who is the current CFO of Front End Markets will take over as CFO. Kumar will continue as executive chairperson.