Strides Pharma Science has reported its highest-ever quarterly EBITDA of Rs. 235.9 crore for Q3FY26, driven by strong performance in ex-US markets despite muted overall revenue growth.

 

Revenue for the quarter rose modestly 3.6% year-on-year to Rs. 1,194.6 crore, impacted by low off-take in the institutional business and flattish US operations. The shortfall was offset by a robust 20% YoY growth in ex-US markets, which reached $64 million.

 

Profitability metrics showed a sharper upward trend. Gross margin expanded 280 basis points to 61.2%, while EBITDA margin climbed 160 basis points to 19.8%. Operational PAT surged 38.6% YoY to Rs. 128.2 crore, translating into an operational EPS of Rs. 13.9. Reported PAT stood at Rs. 208.1 crore.

 

Commenting on the results, Badree Komandur, MD & Group CEO, said, “Strides continues to deliver a strong performance in Q3FY26 with growth primarily driven by the Other Regulated Markets and Growth Markets. Our strong focus on profitability resulted in gross margin expansion of 280bps YoY, and EBITDA margin increase of 160bps YoY to 19.8%. 

 

"Operational PAT and Operational EPS registered a growth of ~38% YoY. This performance demonstrates our consistent execution as we continue to invest in sustainable, long-term growth. 

 

"We are also delighted to welcome Peter Hardwick as the CEO of our North America business. His leadership experience, along with strategic insights of the region, will play a key role in driving our long term growth. Our ongoing commitment to ESG continues to be recognised, with an improved S&P Global Corporate Sustainability Assessment score of 80, marking a 5 point increase over the previous year.”

 

Despite softer revenue growth, Strides’ emphasis on profitability and strategic market expansion demonstrates resilience, particularly in global regulated and growth markets.