Strides Pharma Science Limited — Investor Meet, 04-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Strides Pharma reported a strong Q1 FY26. Revenue was INR 1,120 crores with gross margins at 60%, EBITDA at INR 218 crores (19.5% margin), and highest-ever operating PAT of INR 114 crores. Operational EPS grew 81% to INR 12.4. Net debt reduced to INR 1,496 crores, with a 1.8x EBITDA to net debt ratio.

Management reiterates its $400 million U.S. revenue target by FY28, expecting growth to accelerate from Q2, despite Q1 seasonality and product exits. Other regulated markets also saw 9.2% growth, with further expansion anticipated. Growth markets surged 32.2%. The company continues disciplined focus on profitability, efficiency, and free cash flow generation for debt reduction. New R&D efforts are ramping up for 'beyond generics' products like nasal sprays and patches.