Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 5402.27 Crore) operating in Pharmaceuticals sector.
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Promoters held 29.7 per cent stake in the company as of June 30, 2020, while FIIs held 26.8 per cent, DIIs 19.4 per cent and public and others 24.1 per cent.
ICICI Securities has given a buy rating to Strides Pharma Science with a target price of Rs 710. The share price moved down by 0.92 per cent from its previous close of Rs 606.55. The stock’s last traded price is Rs 601.
Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 5402.27 Crore) operating in Pharmaceuticals sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 781.80 Crore, up 26.37 % from last quarter Sales of Rs 618.64 Crore and up 14.00 % from last year same quarter Sales of Rs 685.80 Crore Company has reported net profit after tax of Rs 122.80 Crore in latest quarter.
Investment Rationale The brokerage has raised EPS estimates by 12.6% for FY22 as it removes losses of Stelis from estimates assuming that it will become subsidiary in near future and will operationally break-even in FY22. Hence, it doesn’t ascribe a separate value for its stake in Stelis. Key downside risks: Regulatory hurdles and pricing pressures in the US. Promoter/FII Holdings Promoters held 29.7 per cent stake in the company as of June 30, 2020, while FIIs held 26.8 per cent, DIIs 19.4 per cent and public and others 24.1 per cent.
