Strides Pharma Science Ltd · NSE:STAR
Strides Pharma Science — Q2 FY2025 Earnings Presentation
27 slides from Strides Pharma Science's earnings presentation, Oct 24, 2024
Slide 1: Stock exchange cover letter: Press Release
October 24, 2024 BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra-Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E) Mumbai - 400 051 Scrip code: 532531 Scrip code: STAR Dear Madam/ Sir, Sub: Press Release Please find enclosed herewith P
Slide 2: Strides Reports Another Strong Quarterly Performance
Press Release October 24, 2024 Strides Reports Another Strong Quarterly Performance Q2FY25 Revenues ₹12,011m, EBITDA ₹2,358m; Reported PAT ₹937m US business reports its highest quarterly revenue of $75m, grew 26% YoY Q2FY2025 Performance Highlights ▪ Revenues at ₹12,011m, grew 17.0% YoY ▪ Gross marg
Slide 3: About Strides
Detailed investor communication on the performance of the Company along with an update on OneSource is attached. About Strides Strides, a global pharmaceutical company headquartered in Bengaluru, India, is listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR). The Co
Slide 4: Delivering with Momentum: Q2 & H1FY25 Results
Delivering with Momentum Q2 & H1FY25 Results | October 24, 2024 Strides Pharma Science Limited 1
Slide 5: Safe Harbor
Safe Harbor Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "p
Slide 6: Continuing to Deliver on the Momentum, Strong Quarterly Performance
Continuing to Deliver on the Momentum, Strides Reports Another Strong Quarterly Performance Q2FY25 Revenues at ₹12,011m; Recorded growth across all markets with US operations at a historic high of $75m quarterly revenue, grew 26% YoY Q2FY25 Q2FY24 YoY We continue to deliver on the momentum built ove
Slide 7: H1FY25 Performance Meeting All Outlook Parameters Across Markets
H1FY25 Performance Meeting All Outlook Parameters Across Markets H1FY25 H1FY24 YoY Revenues ₹22,886m ₹19,583m 16.9% Gross Margins ₹13,703m ₹11,553m 18.6% Gross Margin (%) 59.9% 59.0% 88bps EBITDA ₹4,528m ₹3,486m 29.9% EBITDA Margin (%) 19.8% 17.8% 198bps Adj. PAT ₹1,942m ₹701m Reported P
Slide 8: Strong Revenue Growth with Superior PAT
Strong Revenue Growth with Superior PAT Q2FY25 Adjusted PAT at ₹1,103m and Reported PAT at ₹937m xx Revenue in $M Total Revenue (₹/$M) Gross Margin EBITDA & EBITDA Margin Adj. PAT (₹M) Gross Margin (₹M) Gross Margin (%) EBITDA (₹M) EBITDA Margin (%) $125 $126 $128 $130 $144 7,500 70% 2,500 22% 61.3%
Slide 9: On Track to Achieve FY25 Outlook Across Parameters
On Track to Achieve FY25 Outlook Across Parameters Strides Reaffirms FY25 Outlook PARAMETERS FY25 OUTLOOK COMMENTS H1FY25 STATUS UPDATE REVENUE TO GROW AT 12-15% Significant higher growth Revenue grew 17% YoY, demonstrating REVENUE historically skewed to H2 strong growth ahead of FY25 outlook YoY AI
Slide 10: US Market
US Market • US Revenues at a Historic High of $75m in Q2FY25, Grew 26.2% YoY • H1FY25 revenue at $145m, against the FY25 outlook of $285m-$300m • US Business Poised to Achieve ~$400m Revenue Objective by FY27-28 7
Slide 11: US Revenues at a Quarterly High of $75m in Q2FY25
US Revenues at a Quarterly High of $75m in Q2FY25 H1FY25 Revenue at $145m, Trending in Line with FY25 Outlook of $285m-$300m Year-on-Year Comparison (₹/$M) Highlights ▸ Q2FY25 Revenues at ₹6,303m ($75m), grew 26.2% YoY xx Revenue in $M YoY 26.2 % ▸ Launches from new approvals and dormant products
Slide 12: Other Regulated Markets
Other Regulated Markets • Other Regulated Markets Revenues at $41m, Grew 6.0% YoY • Portfolio Maximization and Increased Focus on B2B Partnerships will Continue to Drive Growth in the Medium Term 9
Slide 13: Other Regulated Markets Revenues at $41m, grew 6.0% YoY
Other Regulated Markets Revenues at $41m, grew 6.0% YoY Year-on-Year Comparison (₹/$M) Highlights ▸ All regulated markets ex-US form part of the Other Regulated Markets xx Revenue in $M YoY 6.0% ▸ Q2FY25 Revenues at ₹3,464m ($41m), grew 6.0% YoY $41 $40 ▸ UK outperformed while the rest of the Euro
Slide 14: Growth and Access Markets
Growth and Access Markets • Growth Markets Positioned for Strong Growth via Geographical Expansion & New Products 11
Slide 15: Growth and Access Markets Revenues at $27m, grew 12.1% YoY
Growth and Access Markets Revenues at $27m, grew 12.1% YoY Year-on-Year Comparison (₹/$M) Growth Markets xx Revenue in $M YoY 12.1% ▸ Growth Markets includes Africa operations and new geographies of LATAM, MENA, $24 $27 CIS, APAC ₹ 2,244 ▸ Q2FY25 Revenues at ₹1,396m ($17m) ₹ 2,002 ▸ Q2FY25 growth
Slide 16: Financial Performance
Financial Performance • Strong Financial Discipline Enabled Profitability and Cashflow Generation 13
Slide 17: Income Statement – Q2 & H1FY25
Income Statement – Q2 & H1FY25 Income statement (₹m) Particulars Q2 FY25 Q2 FY24 YoY Q1 FY25 QoQ H1FY25 H1FY24 YoY I. Revenue 12,011 10,264 17.0% 10,875 10.4% 22,886 19,583 16.9% II. Material Costs 4,979 4,181 4,204 9,183 8,030 III. Gross Margin (I- II) 7,032 6,083 15.6% 6,671 5.4% 13,703 11,553 18.
Slide 18: Net Debt Reduced by ₹957m in Q2FY25
Net Debt Reduced by ₹957m in Q2FY25 and ₹1,325m in H1FY25 in spite of 17% Growth in Revenue and Capex Spend of ₹915m from Internal Accruals; Net Debt at ₹19,025m as of Sept’24 Current Net Debt to EBITDA stands at 2.1x – Tracking ahead of the outlook of <2x Particulars (In ₹m) Mar’24 Sept’24 Outlook
Slide 19: Significant Improvement in the Balance Sheet Metrics
Strong Oversight and Governance Leading to Significant Improvement in the Balance Sheet Metrics Net Debt to Equity (x) Net Debt to EBITDA (x) Cash to Cash Cycle (Days) 5.27 140 1.08 129 126 0.98 0.86 2.72 2.10 FY23 FY24 H1FY25 FY23 FY24 H1FY25 FY23 FY24 H1FY25 Current Ratio (x) RoCE (%) Fixed Asset
Slide 20: Balance Sheet
Balance Sheet Strong Corporate Governance and Corporate Actions improved the Balance Sheet position Particulars (in ₹m ) 31-Mar-23 31-Mar-24 30-Sept-24 Assets Net Tangible Assets ( including CWIP) 12,006 8,809 9,310 Right-of-use assets 1,846 895 793 Goodwill and Other Intangibles 10,769 10,565 11,31
Slide 21: OneSource Specialty Pharma Ltd – Q2&H1FY25 Updates
OneSource Specialty Pharma Ltd – Q2&H1FY25 Updates (formerly known as Stelis BioPharma Ltd) 18
Slide 22: Business Updates
- Business Updates OneSource – Biologics and Drug-Device Combinations Business Steriscience – Complex Soft Gelatin Capsules • Reported its third consecutive EBITDA +ve quarter and is geared for a strong H2 with the and Specialty injectables (Strides Business Moving to OneSource) commencement of comm
Slide 23: Outlook
- Outlook Outlook Outlook Update • On 26th Sep 2024 OneSource updated an investor • Currently, OneSource is on track to achieve both the presentation via the Strides website: Link Revenue and EBITDA guidance. A significant part of • OneSource FY25 Guidance - Revenue $160 – $180M, the increased EBITD
Slide 24: Capital Raise Updates
- Capital Raise Updates Capital Raise • OneSource - the Group’s Spec Pharm CDMO on 16th Oct 2024 announced that the company received equity commitments of INR 8,010M ($95M) from marquee investors at a pre-money equity valuation of $1.65B • The fundraise was led by HBM Healthcare Investments and asso
Slide 25: Listing/NCLT process on track
- Listing/NCLT process on track Obtaining Valuation Report, Fairness Opinion, Board of Directors to approve the Scheme of Filing of Scheme with Stock exchanges for Independent Committee approval and Audit Arrangement approval from SE and SEBI Committee approval E-voting and holding CCM* for creditor
Slide 26: Q2FY25 Earnings Call Details
Q2FY25 Earnings Call Details invites you to interact with the senior management on Q2FY25 Performance Click here to pre-register and join without the operator October 24, 2024 4:30pm IST / 12:00pm BST / 7:00am EDT / 7:00pm HKT Participants from the Management would be: Arun Kumar Badree Komandur Vik
Slide 27: Thank You !
Thank You ! Strides Pharma Science Limited CIN: L24230MH1990PLC057062 Corporate Office Strides House, Bannerghatta Road, Bengaluru - 560 076, India Tel.: +91 80 6784 0000/ 6784 0290 Email: [email protected] Registered Office 201, Devavrata, Sector 17, Vashi, Navi Mumbai - 400 703, India
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