Financial Performance Overview

Strides Pharma Science Limited announced its consolidated financial results for Q2FY27 (quarter ended September 30, 2026) and H1FY27 (half year ended September 30, 2026). The Board meeting to consider these unaudited financial results commenced at 16:45 hrs IST and concluded at 18:15 hrs IST on October 29, 2026.

Quarterly Financial Results (Q2FY27)

Revenue Performance:

  • Revenue: ₹14,297 million, up 17.1% YoY from ₹12,208 million in Q2FY26
  • Quarter-over-quarter growth: 13.0% from ₹12,654 million in Q1FY27

Profitability Metrics:

  • Gross Margin: ₹8,003 million, up 13.4% YoY from ₹7,056 million
  • Gross Margin %: 56.0%, down 180 bps from 57.8% in Q2FY26
  • EBITDA: ₹2,509 million, up 8.4% YoY from ₹2,316 million
  • EBITDA %: 17.6%, down 140 bps from 19.0% in Q2FY26
  • Operational PAT: ₹1,358 million, up 11.5% YoY from ₹1,218 million (adjusted)
  • Operational EPS: ₹14.7, up 11.6% YoY from ₹13.2
  • Reported PAT: ₹1,341 million, up 2.0% YoY from ₹1,315 million
  • Reported EPS: ₹14.2, up 2.6% YoY from ₹13.8

Half-Yearly Financial Results (H1FY27)

Revenue Performance:

  • Revenue: ₹26,951 million, up 15.1% YoY from ₹23,406 million in H1FY26

Profitability Metrics:

  • Gross Margin: ₹15,705 million, up 13.7% YoY from ₹13,810 million
  • Gross Margin %: 58.3%, down 70 bps from 59.0% in H1FY26
  • EBITDA: ₹4,807 million, up 6.9% YoY from ₹4,496 million
  • EBITDA %: 17.8%, down 140 bps from 19.2% in H1FY26
  • Operational PAT: ₹2,589 million, up 9.8% YoY from ₹2,358 million (adjusted)
  • Operational EPS: ₹28.1, up 9.9% YoY from ₹25.6
  • Reported PAT: ₹2,996 million, up 26.4% YoY from ₹2,371 million
  • Reported EPS: ₹31.2, up 26.7% YoY from ₹24.6

Segment Performance

US Business:

  • Revenue: ₹6,855 million (US$73 million)
  • Growth: Up 9% YoY
  • Product Launches: 3 new products launched during the quarter

Ex-US Markets:

  • Revenue: ₹6,963 million (US$74 million)
  • Growth: Up 31% YoY
  • Historical Milestone: Ex-US Markets surpassed US business in quarterly revenue for the first time

Management Commentary

Badree Komandur, MD & Group CEO, commented on the performance:

  • The company delivered strong second quarter performance driven by Ex-US Markets
  • Diversification strategy continues to play out successfully
  • EBITDA crossed the ₹2,500 million mark in a quarter for the first time
  • Performance achieved despite higher raw material, freight and operating costs arising from geopolitical disruptions
  • Company remains focused on mitigating cost pressures through continuous cost optimization initiatives
  • Net Debt increased by ₹2,114 million during H1 due to elongated cash-to-cash cycle and higher inventory holding to navigate current market conditions
  • Expects Net Debt to EBITDA ratio to stabilize by year-end
  • Welcomed Mr. Biren Gabhawala to the Board as an Independent Director, bringing deep expertise in financial reporting, audit and corporate governance
  • External environment remains dynamic, but company committed to delivering sustainable and profitable growth

Operational Notes

  • Operational PAT and Operational EPS for Q2FY26 and H1FY26 exclude one-time finance income of ₹185 million
  • Operational PAT is defined as Reported PAT excluding exceptional items