News ArticleStrides Pharma Science Achieves ₹14,297m Revenue in Q2FY27, Ex-US Markets Lead 31% Growth
EBITDA crosses ₹2,500m mark for the first time despite cost pressures; US business grows 9% with three new product launches
Strides Pharma Science posted a 17.1% year-on-year revenue increase to ₹14,297 million in Q2FY27, driven by a 31% rise in Ex-US Markets which for the first time outperformed the US division. EBITDA rose 8.4% to ₹2,509 million despite higher input costs, with reported PAT at ₹1,341 million. The company launched three new US products and anticipates net debt to EBITDA ratio stabilizing by year-end.
Strides Pharma Science Limited
General / Other
Strides Pharma Science Limited reported consolidated revenue of ₹14,297 million for the quarter ended September 30, 2026 (Q2FY27), marking a 17.1% increase year-on-year backed by a strong 31% rise in Ex-US Markets revenue which surpassed the US business segment for the first time.
The US pharmaceutical business posted revenue of ₹6,855 million (USD 73 million), growing 9% year-on-year with three new products launched during the quarter.
EBITDA increased by 8.4% year-on-year to ₹2,509 million, breaking the ₹2,500 million threshold for the first time within a quarter, despite facing increased raw material and freight costs.
Operational profit after tax (PAT) rose 11.5% year-on-year to ₹1,358 million with an operational earnings per share (EPS) of ₹14.7, while reported PAT was ₹1,341 million, a 2.0% rise year-on-year.
Gross margin stood at ₹8,003 million, representing 56.0% of revenue, slightly lower than the prior year.
Net debt increased by ₹2,114 million in the first half of FY27 due to longer cash cycle and higher inventory to manage market conditions; management expects net debt to EBITDA ratio to stabilize by year-end.
Highlights
- Q2FY27 consolidated revenue: ₹14,297 million, up 17.1% YoY
- Ex-US Markets revenue: ₹6,963 million, up 31% YoY, surpassing US revenue
- US business revenue: ₹6,855 million (USD 73 million), up 9% YoY with 3 new launches
- EBITDA: ₹2,509 million, up 8.4% YoY, crossing ₹2,500 million in a quarter for the first time
- Operational PAT: ₹1,358 million, up 11.5% YoY; Reported PAT: ₹1,341 million, up 2.0% YoY
- Gross margin: ₹8,003 million; EBITDA margin: 17.6%
Key Data Snapshot
Financial performance
- Consolidated revenue increased 17.1% year-on-year to ₹14,297 million in Q2FY27.
- Ex-US Markets revenue rose 31% year-on-year to ₹6,963 million, surpassing US revenue for the first time.
- US business recorded 9% year-on-year revenue growth to ₹6,855 million (USD 73 million) including three new product launches.
- EBITDA grew 8.4% to ₹2,509 million despite higher input and freight costs, resulting in a 17.6% EBITDA margin.
- Operational PAT increased 11.5% year-on-year to ₹1,358 million with operational EPS of ₹14.7.
- Reported PAT was ₹1,341 million, a 2.0% increase year-on-year.
Key details
- Gross margin stood at 56.0%, slightly lower by 180 basis points compared to prior year period.
- Net debt rose by ₹2,114 million in the first half of FY27 due to longer cash-to-cash cycle and increased inventory.
- Management expects the net debt to EBITDA ratio to stabilize by the end of the financial year.
- The company launched three new products in the US during the quarter.
- Strides maintains manufacturing facilities in India, Italy, Kenya and the United States, and operates globally with a presence in over 100 countries.
Background and context
- Strides Pharma Science Limited is a global pharmaceutical company headquartered in Bengaluru, India, listed on BSE and NSE.
- The company focuses on regulated markets and has a strategy including an "in Africa for Africa" model and donor funded institutional business.
- Its portfolio emphasizes difficult-to-manufacture pharmaceutical products.
- The strong growth in Ex-US markets reflects diversification of revenue sources.
- The increase in net debt reflects efforts to manage inventories amid prevailing market conditions.
Highlights
- Q2FY27 consolidated revenue: ₹14,297 million, up 17.1% YoY
- Ex-US Markets revenue: ₹6,963 million, up 31% YoY, surpassing US revenue
- US business revenue: ₹6,855 million (USD 73 million), up 9% YoY with 3 new launches
- EBITDA: ₹2,509 million, up 8.4% YoY, crossing ₹2,500 million in a quarter for the first time
- Operational PAT: ₹1,358 million, up 11.5% YoY; Reported PAT: ₹1,341 million, up 2.0% YoY
- Gross margin: ₹8,003 million; EBITDA margin: 17.6%
Disclosures
- BSE Listing Obligations and Disclosure Requirements
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