Strides Pharma Reports Net Loss Of Rs 206.57 Cr In Q4
FY20 Adjusted EBITDA at Rs 6,514 million, translating into 22.4% EBITDA margins and YoY growth of 153%.
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Strides Pharma Science Ltd has announced its Q4 and FY20 results.
The company reports strong performance in FY20 despite Ranitidine withdrawal from the US market. It adjusted FY20 revenues at Rs 29,127 million with 33% YoY growth, Reported revenues grew by 26%
FY20 Adjusted EBITDA at Rs 6,514 million, translating into 22.4% EBITDA margins and YoY growth of 153%
Reported EBITDA at Rs 5,276 million delivering 19.1% EBITDA margins and 105% YoY growth
Regulated markets clocked 47% revenue growth in FY20
US business meets higher end of FY20 guidance
Adjusted for Ranitidine withdrawal, Q4FY20 performance in line with expectation
Recommends dividend of Rs 2/- per share resulting in the total dividend for the year at Rs 14/- per share (140%)
Commenting on the performance, Dr R Ananthanarayanan, CEO & MD, remarked, “The financial year 2020 has met all strategic and financial outcomes for Strides in spite of the unexpected US FDA direction to withdraw Ranitidine on the last day of FY20. While we have grown our revenues by 26% (33% Adjusted), our EBITDA has grown over two times, demonstrating over 740 basis point (1,070 basis point Adjusted) improvement in the margins. We are also satisfied that the regulated markets continued its healthy track record and our US business met the upper end of our FY20 outlook, including the revenues from Ranitidine.”