STRIDES PHARMA SCIENCE Announces Quarterly Results (3QFY21); Net Profit Down 46.4%

Fri, 5 Feb

STRIDES PHARMA SCIENCE has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

STRIDES PHARMA SCIENCE Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	7,324	7,936	8,320	4.8%	13.6%
Other income	Rs m	122	129	132	2.6%	8.0%
Turnover	Rs m	7,447	8,064	8,452	4.8%	13.5%
Expenses	Rs m	5,502	6,315	6,714	6.3%	22.0%
Gross profit	Rs m	1,979	1,752	1,468	-16.2%	-25.8%
Depreciation	Rs m	435	528	525	-0.5%	20.8%
Interest	Rs m	396	369	347	-5.9%	-12.5%
Profit before tax	Rs m	1,270	984	728	-26.0%	-42.6%
Tax	Rs m	113	61	108	76.5%	-4.7%
Profit after tax	Rs m	1,157	923	621	-32.8%	-46.4%
Gross profit margin	%	27.0	22.1	17.6
Effective tax rate	%	8.9	6.2	14.8
Net profit margin	%	15.5	11.4	7.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 13.6% on a year-on-year (YoY) basis. The expenses were up by 22.0% YoY during the same period.
• The company's operating profit declined by 25.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.6% in 3QFY21 as against 27.0% in 3QFY20.
• Depreciation charges increased by 20.8% and finance costs declined by 12.5% YoY, respectively.
• Other income increased by 8.0% YoY during the quarter.
• Net profit for the quarter declined by 46.4% YoY. Net profit margins during the quarter declined from 15.5% in 3QFY20 to 7.3% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 4.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.3% QoQ during the same period.
• The company's operating profit declined by 16.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.6% in 3QFY21 as against 22.1% in 2QFY20.
• Net profit for the quarter declined by 32.8% QoQ, while net profit margins declined from 11.4% in 2QFY20 to 7.3% in 3QFY21.

To see how STRIDES PHARMA SCIENCE has performed over the last eight quarters,please visit here.

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STRIDES PHARMA SCIENCE Share Price Performance

Over the last one year, STRIDES PHARMA SCIENCE share price has moved up from Rs 493.6 to Rs 873.6, registering a Gain of Rs 380.0 or around 77.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,735.0 (up 0.5%). Over the last one year it has moved up from 13,946.5 to 21,735.0, a gain of 7,788 points (up 55.8%).

Overall, the S&P BSE SENSEX is up 27.4% over the year.

Current Valuations

At the current price of Rs 873.6, the price to earnings (P/E) ratio of STRIDES PHARMA SCIENCE stands at 45.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.