News ArticleStrides Pharma Posts 17% Revenue Growth to ₹14,297 Crore in Q2 FY27, Ex-US Markets Surpass US Revenues
EBITDA rises 8.4% to ₹2,509 crore despite input cost pressures; Operational PAT up 11.5% amid strategic market diversification
Strides Pharma Science Limited announced a 17.1% year-on-year revenue increase to ₹14,297 crore for Q2 FY27, driven by 31% growth in Ex-US markets surpassing US revenue. EBITDA rose 8.4% to ₹2,509 crore despite higher input costs. Operational PAT grew 11.5% to ₹1,358 crore, reflecting strong operational performance amid geopolitical challenges.
Strides Pharma Science Limited
Investor Presentation
Strides Pharma Science Limited reported a 17.1% year-on-year revenue growth to ₹14,297 crore for the quarter ended September 30, 2026, with Ex-US markets expanding by 31%, exceeding US revenues for the first time. The company's EBITDA reached ₹2,509 crore, and Operational PAT grew 11.5% to ₹1,358 crore despite challenges from higher raw material and freight costs.
The company's revenue performance in Q2 FY27 was led by the Ex-US markets, which grew 31% year-on-year to ₹6,963 crore, surpassing the US business revenue of ₹6,855 crore, which grew 9% year-on-year. This marks a significant milestone reflecting successful diversification efforts.
EBITDA increased by 8.4% to ₹2,509 crore, crossing the ₹2,500 crore mark in a quarter for the first time, even as geopolitical disruptions elevated input material and freight costs. Continuous cost optimization initiatives are underway to mitigate these pressures.
Operational Profit After Tax (PAT) rose 11.5% to ₹1,358 crore with Operational Earnings Per Share (EPS) of ₹14.7. Reported PAT was ₹1,341 crore, reflecting strong overall profitability.
For the half year ended September 30, 2026, Strides recorded revenue of ₹26,951 crore, a 15.1% increase year-on-year, with an EBITDA of ₹4,807 crore and an Operational PAT of ₹2,589 crore, maintaining consistent growth trends.
The company also reported an increase in net debt by ₹2,114 crore during H1 FY27, attributed to an elongated cash cycle and increased inventory holdings to navigate current market conditions. Management expects the net debt to EBITDA ratio to stabilize by year-end.
Highlights
- Q2 FY27 revenue at ₹14,297 crore, up 17.1% year-on-year
- Ex-US markets revenue grew 31% YoY to ₹6,963 crore, surpassing US revenue for the first time
- US market revenue grew 9% YoY to ₹6,855 crore ($73 million)
- EBITDA increased 8.4% YoY to ₹2,509 crore despite higher raw material and freight costs
- Operational PAT rose 11.5% YoY to ₹1,358 crore with Operational EPS at ₹14.7
- H1 FY27 revenue stood at ₹26,951 crore, a 15.1% increase YoY with EBITDA of ₹4,807 crore and Operational PAT of ₹2,589 crore
Key Data Snapshot
What happened
- Strides Pharma posted quarterly revenue of ₹14,297 crore in Q2 FY27, a 17.1% increase year-on-year reflecting strong business growth.
- Ex-US markets grew by 31% YoY to ₹6,963 crore, surpassing US market revenue for the first time, which grew 9% YoY to ₹6,855 crore ($73 million).
- EBITDA increased 8.4% YoY to ₹2,509 crore despite increased freight and raw material costs from geopolitical disruptions.
- Operational PAT grew 11.5% YoY to ₹1,358 crore with Operational EPS of ₹14.7.
Financial performance
- Half year revenue for H1 FY27 was ₹26,951 crore, a 15.1% rise compared to the prior year period.
- EBITDA for H1 FY27 reached ₹4,807 crore, growing 6.9% year on year.
- Operational PAT for H1 FY27 stood at ₹2,589 crore, a 9.8% increase compared to last year.
- Reported PAT for H1 FY27 was ₹2,996 crore, up 26.4% year-on-year.
- Operating margins were affected by higher material and logistics costs but efficiency initiatives are in place to control expenses.
Strategic context
- The company’s diversification strategy is advancing, with the Ex-US markets now larger than US revenue in a quarter for the first time.
- Despite market challenges, the company remains focused on profitability-led growth with selective product launches and expanding differentiated platforms.
- Net debt increased by ₹2,114 crore in H1 FY27 due to longer cash cycles and higher inventory to support market conditions; management expects stabilization by year-end.
- Strides continues to pursue growth in US markets through differentiated platforms including nasal sprays, patches, films, and controlled substances portfolio.
- Focus on managing cost pressures through continuous optimization initiatives amid a dynamic external environment.
Regulatory and governance context
- Mr. Biren Gabhawala was appointed as an Independent Director on the Board, bringing expertise in financial reporting, audit, and corporate governance.
- The Board reviewed unaudited financial results for Q2 and H1 FY27 on October 29, 2026.
Highlights
- Q2 FY27 revenue at ₹14,297 crore, up 17.1% year-on-year
- Ex-US markets revenue grew 31% YoY to ₹6,963 crore, surpassing US revenue for the first time
- US market revenue grew 9% YoY to ₹6,855 crore ($73 million)
- EBITDA increased 8.4% YoY to ₹2,509 crore despite higher raw material and freight costs
- Operational PAT rose 11.5% YoY to ₹1,358 crore with Operational EPS at ₹14.7
- H1 FY27 revenue stood at ₹26,951 crore, a 15.1% increase YoY with EBITDA of ₹4,807 crore and Operational PAT of ₹2,589 crore
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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