Strides Pharma Science Ltd · NSE:STAR
Strides Pharma Science — Q1 FY2021 Earnings Presentation
17 slides from Strides Pharma Science's earnings presentation, Aug 5, 2020
Slide 1: Q1FY21 Earnings
Q1FY21 Earnings August 05, 2020
Slide 2: A strong bounce back for Strides in Q1FY21 post ranitidine withdrawal
A strong bounce back for Strides in Q1FY21 post ranitidine withdrawal Coming out of a challenging Q4 FY20 due to Ranitidine withdrawal, Strides has started FY21 on a positive note. We have reported strong performance across all our business in Q1 FY21 despite significant disruptions and ambiguity in
Slide 3: Solid execution led to an all-round performance with 132% QoQ growth in EBITDA
Solid execution led to an all-round performance with 132% QoQ growth in EBITDA Q1FY21 Q4FY20 Q1FY201 QoQ% YoY% Revenues ₹7,847m ₹6,126m ₹6,888m 26% 14% Gross Margins ₹4,825m ₹3,750m ₹3,726m 29% 29% 61.5% 60.3% 54.1% 120 bps 740 bps EBITDA ₹1,578m ₹680m ₹1,239m 132% 27% 20.1% 10.9% 18.0%
Slide 4: Regulated market traction continues along with an improved emerging markets performance
Regulated market traction continues along with an improved emerging markets performance Key Highlights Regulated Markets Regulated Markets Market Q1FY21 Q4FY20 Q1FY20 QoQ% YoY% US • US reported ₹3,738m revenues($50m), up by 28% QoQ and 8% YoY US 3,738 2,931 3,4591 28% 8% • Strides delivered a health
Slide 5: Strides remains optimistic to continue the scale up in the regulated market
Strides remains optimistic to continue the scale up in the regulated market Strides Regulated Markets Q1FY21 Q4FY20 Q1FY20 QoQ% YoY% ₹6,344m ₹5,191m ₹5,164m 22% 23% $85m $73m $73m 16% 16% Growth Drivers Near Term Challenges Outlook • Continued traction in the US Business • Challenges around
Slide 6: Strong comeback quarter in the US, business reports industry leading 28% QoQ growth
Strong comeback quarter in the US, business reports industry leading 28% QoQ growth Financial Performance (₹/$M) Performance Updates QUARTER ON QUARTER YEAR ON YEAR • Strides reported a strong Q1 FY 20 performance in the US markets despite ranitidine withdrawal • Business reported a 28% QoQ growth t
Slide 7: Other regulated market continues to scale, reports 53% YoY growth
Other regulated market continues to scale, reports 53% YoY growth Financial Performance (₹/$M) Performance Updates QUARTER ON QUARTER YEAR ON YEAR • The other regulated markets reported 53% YoY and 15% QoQ growth to achieve its highest ever quarterly run-rate. • The business has achieved $35m scale
Slide 8: Emerging markets sees green shoots in the performance, reports a 47% QoQ growth
Emerging markets sees green shoots in the performance, reports a 47% QoQ growth Financial Performance (₹/$M) Performance Updates QUARTER ON QUARTER YEAR ON YEAR • The Emerging market business picked up sequentially, reported $20m revenues in Q1FY21 • Post the strategic reset, the brands Africa busin
Slide 9: Puducherry Facility reclassification status
Puducherry Facility reclassification status The USFDA inspected our Puducherry site from January 28, 2019, to February 5, 2019. The site was classified as Official Action Indicated(OAI) followed by a warning letter in July 2019. We have completed and submitted all Corrective and Preventive Action (C
Slide 10: Amidst the Covid-19 uncertainties, Strides remains cautiously optimistic of its FY21 outcomes
Amidst the Covid-19 uncertainties, Strides remains cautiously optimistic of its FY21 outcomes PEOPLE FIRST o Established leadership connect globally and ensure employee Safety & Wellbeing o Build Emotional Connect through multiple channels – extending to families of employees M E A S U R E S o Rapid
Slide 11: Update on Biotech and other investments
Update on Biotech and other investments Stelis Biopharma- Operations expected to break even in FY22 Biopharma (Follow on Biologics) BioSource(CDMO services) Vaccines(New Pivot for growth) • Biosimilar PTH (Teriparatide) targeting • Fully integrated, multi-capable facilities and • Commissioning a sta
Slide 12: Financial Performance
8S Strides Financial Performance
Slide 13: Robust cash generation resulted in Pharma Net debt reduction by ₹1,285m
Robust cash generation resulted in Pharma Net debt reduction by ₹1,285m Pharma Net Debt Investments in CHC & Biotech Total Net Debt Pharma ROCE% As at March 2020 As at March 2020 As at March 2020 For FY20 ₹ 6,953m ₹ 4,516m ₹ 11,469m 10.8% As at June 2020 As at June 2020 As at June 2020 For Q1 FY21 ₹
Slide 14: Operating leverage continues, delivering strong margins
Operating leverage continues, delivering strong margins Revenues (₹M) Gross Margins(%) EBITDA(%) ₹ 7,847 ₹ 7,353 ₹ 7,180 ₹ 6,888 ₹ 6,216 ₹ 6,187 ₹ 5,738 ₹ 5,240 64.5 61.5 ₹ 4,768 60.3 58.4 54.1 53.4 51.2 50.4 46.2 25.2 21.0 20.1 18.0 15.4 11.3 10.9 10.2 9.3 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20
Slide 15: Q1FY21 delivers a strong overall performance
Q1FY21 delivers a strong overall performance Income statement (₹m) Particulars Q1 FY21 Q1 FY20 YoY Q4 FY20 QoQ Revenues 7,847 6,888 14% 6,216 26% EBITDA 1,578 1,239 27% 680 132% EBITDA % 20.1% 18.0% 210bps 10.9% 920bps Pharma PAT1 788 523 84 Pharma EPS1 8.8 5.8 0.9 Reconciliation of EBITDA (₹m) As p
Slide 16: Strides Q1FY21 Earnings Call invitation
Strides Pharma Science Ltd – Q1FY21 Earnings Call Pre-register and join without operator Click here invites you to interact with the senior management on Q1FY21 earnings on Join through an operator using dial in numbers WEDNESDAY, AUGUST 5, 2020 India Primary +912262801434 / +912271158838 5:15pm IST
Slide 17: Thank you
Thank you Strides Pharma Science Limited CIN: L24230MH1990PLC057062 Regd. Office: 201, ‘Devavrata’, Sector - 17, Vashi, Navi Mumbai - 400 703 Corp. Office: Strides House, Bannerghatta Road, Bangalore – 560076 Investor Relations Sandeep Baid: [email protected] Corporate Communication Dr. Usha
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