Strides Pharma Q2 FY27 Revenue Hits Record ₹14,297 Million; Ex-US Business Surpasses US
Strides Pharma reported record Q2 FY27 revenue of ₹14,297 million, up 17% YoY. Ex-US business exceeded US revenue for the first time. EBITDA reached ₹2,509 million. Operational PAT grew 12% to ₹1,358 million. The company appointed Biren Gabhawala as Independent Director.
Record financial performance, exceeding historical revenue and EBITDA, and achieving a key strategic goal of outperforming the US market with the ex-US business are significant developments that will impact investor perception and the company's future trajectory.
The company reported record revenues and EBITDA, achieved a significant strategic milestone with the ex-US business surpassing the US business, and saw strong growth across multiple geographies. The appointment of an independent director also contributes positively.
Strides Pharma Science Limited announced a record-breaking second quarter for FY27, with revenues reaching ₹14,297 million (approximately $173 million), marking a 17% year-on-year and 13% quarter-on-quarter increase. A significant milestone was achieved as the company's ex-US business surpassed its US counterpart in revenue for the first time, reaching 102% of US revenue in Q2 FY27, well ahead of the initial FY28 target. This strategic diversification is a key driver of growth.
Gross margin stood at 56.0%, a decrease from the previous year due to increased input costs stemming from geopolitical situations. However, absolute gross margin grew 13% year-on-year to ₹8,003 million. EBITDA also saw a record high, growing 8% year-on-year to ₹2,509 million, with an EBITDA margin of 17.6%. Operational Profit After Tax (PAT) grew by 12% year-on-year to ₹1,358 million, with operational Earnings Per Share (EPS) at ₹14.7.
The company's US business revenue was ₹6,855 million ($73 million), showing a 9% year-on-year growth. While the US market's growth is more measured due to normalized drug-shortage opportunities and higher operating costs, Strides is focusing on differentiated products, including nasal sprays, patches, films, and controlled substances, to drive future growth. The ex-US business demonstrated exceptional growth of 31% year-on-year, driven by strong momentum across UK, Europe, Nordics, Australia, and Africa.
Strides Pharma also welcomed Mr. Biren Gabhawala as an Independent Director to its Board, further strengthening its corporate governance. The company remains committed to its overall growth aspirations, focusing on profitability-led growth and rebalancing its growth engines, with continued investment in differentiated product pipelines and market expansion.
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