Geojit's research report on Strides Pharma Science
Strides revenues in Q4FY21 grew by 47% YoY to Rs.908 cr during the quarter with sales growth in the regulated markets and emerging markets. The emerging markets grew by 107% YoY with growth in institutional biz. driven by TDL. The company announced its partnership with TLC to launch Amphotericin B Liposome for Injection 50mg. We expect a revenue CAGR of 15% over FY21E-FY23E on the back of strong existing product portfolio, new product basket to aid COVID treatment and strengthening of front-end presence.
Outlook
Hence, we upgrade our rating from “Accumulate” to “Buy” based on 16x FY22E EPS and target price of Rs.936.
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