Board recommends dividend of Rs 3 per equity share of face value of Rs 10
Strides Pharma Science announced its Q4FY19 and FY19 results. In Q4FY19, YoY the revenues were up by 24 per cent at Rs 8,389 million with EBITDA of Rs 1,581 million, up by 57 per cent YoY. Healthy growth across regulated markets and operating leverage led to a 400 bps improvement in Q4FY19 EBITDA margins. In FY19, revenues were up by 6 per cent at Rs 30,264 million with EBITDA of Rs 4,695 million, up by 7 per cent. The board has recommended a dividend of Rs 3 per equity share of face value of Rs 10.
Arun Kumar, Founder and Group CEO, Strides Pharma Science said, “Starting the year with several challenges, we are satisfied with our FY19 exit quarter performance as most of the strategic outcomes have met our expectations. We are happy with the regulated market performance which exceeds our internal target in delivering ~20 per cent EBITDA margins in spite of increased spending on R&D. Moving into the new fiscal, our emerging market and institutional business will get our highest attention and priority. We believe significant work on course correction of these markets is now complete, and we are well suited to drive profitable growth going forward.”