Reports strong performance in FY20 despite Ranitidine withdrawal from the US market

4  Adjusted FY20 revenues at ₹29,127 million with 33% YoY growth, Reported revenues grew by 26%

4  FY20 Adjusted EBITDA at ₹6,514 million, translating into 22.4% EBITDA margins and YoY growth of 153%

4  Reported EBITDA at ₹5,276 million delivering 19.1% EBITDA margins and 105%YoY growth

4  Regulated markets clocked 47% revenue growth in FY20

4  US business meets higher end of FY20 guidance

4  Adjusted for Ranitidine withdrawal, Q4FY20 performance inline with expectation

4  Recommends dividend of ₹2/- per share resulting inthe total dividend for the year at₹14/- per share (140%) 

MUMBAI, INDIA, May 21, 2020 (GPN) – Strides Pharma Science Ltd (BSE: 532531, NSE: STAR) today announced its Q4 and FY20 results.

Q4FY20 & FY20PERFORMANCE

All Values in ₹m

Particulars	Q4FY20 Reported	Q4FY20 Adjusted**	Q3FY20 Reported	Q4FY19 Reported	FY20 Reported	FY20 Adjusted**	FY19 Reported
Revenues	6,216	7,706	7,353	6,187	27,637	29,127	21,936
EBITDA	680	1,918	1,851	953	5,276	6,514	2,575
EBITDA %	10.9%	24.9%	25.2%	15.4%	19.1%	22.4%	11.7%
Adj PAT*	84		1,017		2,341		1,133
Adj EPS	0.9		11.4		26.1		12.7

*For Q4FY20,adjusted for Biotech and CHC share of loss of ₹448m and exceptional loss of ₹1,701m. For FY20,adjusted for Biotech and CHC share of loss of ₹1,072m and exceptional loss of ₹777m

**Adjusted performance does not include the impact of Ranitidine withdrawal 

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.

We have entered into a new world order with Covid-19, the magnitude and scale of which remains indeterminate. We have maintained our agility and responsiveness to deal with this situation and are pursuing our commitment to 3Ps viz- Patients, People and Purpose. We are determined to play a substantial role in society by bringing affordable and quality healthcare to millions of people around the globe. We strongly believe that our businesses will maintain traction and would grow significantly to culminate into a healthy financial outcome for Strides in FY21.”

Detailed investor communication on the performance of the Company is attached

CONFERENCE CALL DETAILS

Date:Thursday,May 21, 2020	Time: 8:30am IST / 4:00am BST / 11:00pm EDT / 11:00am HKT
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ABOUT STRIDES

Strides, listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bangalore, India.  The Company mainly operates in the regulated markets and has an “in Africa for Africa” strategy along with an institutional business to service donor-funded markets. The Company’s global manufacturing sites are located inIndia- Bangalore (two sites), Pondicherry, and Chennai, Singapore, Italy- Milan, Kenya- Nairobi and US-Florida. The Company focusses on “difficult to manufacture” products that are sold in over 100 countries. Additional information is available at the Company’s website at www.strides.com