Strides Pharma revenue rises 17% as sales outside US overtake American ones for first time
Moody's reports Strides Pharma's Q2 FY27 revenue up 17.1% and record EBITDA of Rs 2,509 million. Ex-US sales exceeded US sales for the first time.
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what happened
Bengaluru-based drugmaker Strides Pharma Science lifted consolidated revenue 17.1% year on year to Rs 14,297 million in the quarter ended 30 September 2026, according to Moody's. Revenue from markets outside the US grew 31% to Rs 6,963 million, edging past US revenue of Rs 6,855 million for the first time.
EBITDA reached a record Rs 2,509 million, although the margin narrowed to 17.6% from 19%, as higher input, freight and operating costs weighed. Gross margin fell 180 basis points to 56%. Operational profit after tax rose 11.5% to Rs 1,358 million, while reported PAT grew 2% to Rs 1,341 million.
Net debt rose by Rs 2,114 million in the first half, which the company linked to a longer cash-to-cash cycle and higher inventory. The company also appointed Biren Gabhawala as an Independent Director.
why it matters
The picture is mixed: revenue and profit growth come alongside margin compression and higher debt. Management expects the net debt-to-EBITDA ratio to stabilise by the end of the financial year, a target investors will likely track closely.
market impact
Strides Pharma shares: strong revenue supports interest, while cost pressure and higher debt hold it back
- Strides Pharma shares mixed — revenue and EBITDA growth is offset by margin compression and higher net debt
tags
instruments
sources
- Strides Pharma Q2 Revenue Rises 17%, Ex-US Sales Surpass US — Moody's, 1 November 2026 at 02:00 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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