Reduce Strides Pharma Science, target price Rs 495: ICICI Securities
Strides Pharma Science Ltd. with a target price of Rs 495. The current market price of Strides Pharma Science is Rs 526.8.
Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 4766.18 Crore) operating in Pharmaceuticals sector.
Strides Pharma Science Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Sale of services and Royalty Income for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company reported a Consolidated Total Income of Rs 938.64 Crore, down -7.39 % from last quarter Total Income of Rs 1013.49 Crore and down -1.57 % from last year same quarter Total Income of Rs 953.62 Crore.
Company reported net profit after tax of Rs 23.57 Crore in latest quarter.
Investment Rationale
Soft gel business is likely to account for 13.6% of revenue and 22.4% of EBITDA of Strides in FY24E. Regrouping may require approval from shareholders and regulators and is likely to take 12-15 months for completion.
