Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 6068.55 Crore) operating in Pharmaceuticals sector.
ThinkStock PhotosPromoters held 29.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 27.1 per cent, DIIs 15.1 per cent and public and others 28.1 per cent.
ICICI Securities has given a buy rating to Strides Pharma Science with a target price of Rs 776. The share price moved up by 0.94 per cent from its previous close of Rs 672.50. The stock’s last traded price is Rs 678.85.
Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 6068.55 Crore) operating in Pharmaceuticals sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 793.56 Crore, up 1.50 % from last quarter Sales of Rs 781.80 Crore and up 10.97 % from last year same quarter Sales of Rs 715.09 Crore Company reported net profit after tax of Rs 107.11 Crore in latest quarter.
Investment Rationale The brokerage marginally revises estimates to reflect current quarters performance. It maintains BUY on the stock with a revised target price of Rs776/share based on 17xSep’22E EPS (earlier: Rs773/share). Key downside risks: Regulatory hurdles, delay in new launches and pricing pressures in the US.
Promoter/FII Holdings Promoters held 29.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 27.1 per cent, DIIs 15.1 per cent and public and others 28.1 per cent.
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