Accumulate Strides Pharma Science; target of Rs 621: Geojit

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Geojit's research report on Strides Pharma Science

Strides saw its Q1FY21 revenues grow by 14% on a YoY basis and 26% sequentially to Rs.782cr on the back of revenue growth in the regulated markets The U.S business grew by 8% YoY (Excluding ranitidine sales) led by successful new launches and growth in market share of existing products Strides plans to launch 10+ new products in the regulated markets during FY21. The company stated that the US$40 million investment in Stelis Biopharma made last year is expected to break-even by FY22.

Outlook

We reiterate a "Accumulate" rating on the Strides based on 13x FY22E EPS with a target price of Rs.621

For all recommendations report, click here

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