Strides Pharma Q4 Review - Strong Recovery Across Segments: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Strides Pharma Science Ltd.’s Q4 FY22 performance was above our estimates driven by strong recovery across business segments. Revenue grew 9.0% QoQ to Rs 8.7 billion (our estimate: Rs 7.8 billion). U.S. revenue grew 15.8% QoQ to $44 million as against our estimate of $36 million. Sequential improvement in gross margin coupled with operational leverage lifted Ebitda margin to 4.8% (up 420 bps QoQ). Strides Pharma believes it can achieve $250 million sales in the U.S. in FY23 driven by new product launches (~20/year) including the integration of Endo Pharma portfolio. Strides Pharma has announced a series of steps to be undertaken in FY23, which include debt reduction (~Rs 10 billion), inventory normalisation, cost reduction and unprofitable business exits..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Strides Pharma Q4 Review - Strong Recovery Across Segments: ICICI Securities

Strides Pharma Q4 Review - Strong Recovery Across Segments: ICICI Securities

Choose a plan