Motilal Oswal: Strides Pharma’s Strong Revival In Earnings Led By Other Regulated, U.S. And Africa

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.After posting adjusted loss of Rs 274 million in Q4 FY20, Strides Pharma Science Ltd. made a strong comeback in Q1 FY21 with adjusted profit after tax of Rs 560 million. This was on account of strong traction witnessed in the U.S. / Other Regulated / Africa markets.Revenues were up 14% YoY to Rs 7.8 billion (estimate Rs 6.5 billion). Other Regulated sales were up 53% YoY to Rs 2.6 billion (33% of sales).Emerging Markets sales rose 17% YoY to Rs 1.5 billion (19% of sales). U.S. sales fell 4% YoY to Rs 3.7 billion (48% of sales). Excluding Ranitidine sales in Q1 FY20, YoY growth was 8% for the quarter.The gross margin expanded 740 basis point YoY to 61%, led by a better product mix. However, the Ebitda margin expanded at lower rate of 130 basis point YoY to 19.3% on higher opex (employee cost up 245 basis point YoY; other expenses up 370 basis point YoY as % of sales).Ebitda for the quarter was up 22% YoY to Rs 1.5 billion (estimate Rs 1.1 billion)..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Strides Pharma’s Strong Revival In Earnings Led By Other Regulated, U.S. And Africa

Motilal Oswal: Strides Pharma’s Strong Revival In Earnings Led By Other Regulated, U.S. And Africa

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