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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Strides Pharma Science
Strides Pharma Science (STAR) investor relations material
Strides Pharma Science Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary30 Oct, 2026
Executive summary
Q2 revenue was INR 1,429.7 crore, up 17.1% YoY; ex-U.S. revenue grew 31% and exceeded U.S. revenue for the first time in a quarter.
Q2 EBITDA rose 8.4% YoY to INR 250.9 crore; reported PAT was INR 134.1 crore.
H1 revenue grew 15.1% to INR 2,695.1 crore and EBITDA rose 6.9% to INR 480.7 crore.
FY 2028 overall growth aspiration remains intact; the ~$375 million U.S. revenue aspiration is now expected beyond FY 2028.
H2 is expected to be stronger than H1, supported by U.S. launches, continued ex-U.S. momentum and moderating cost pressures.
Financial highlights
Q2 gross profit increased 13.4% YoY to INR 800.3 crore; gross margin was 56.0%, down 180 bps YoY.
Q2 EBITDA margin was 17.6%, versus 19.0% in Q2 FY 2026; operational PAT rose 11.5% YoY to INR 135.8 crore.
H1 gross profit was INR 1,570.5 crore, up 13.7%; gross margin was 58.3%, down 70 bps YoY.
H1 operational PAT rose 9.8% to INR 258.9 crore; reported PAT increased 26.4% to INR 299.6 crore, including exceptional items.
Q2 reported EPS was INR 14.19; H1 reported EPS was INR 31.22.
Outlook and guidance
Overall FY 2028 growth aspiration remains intact; ex-U.S. is expected to outgrow the business average, while the ~$375 million U.S. aspiration has shifted beyond FY 2028.
H2 is expected to exceed H1; four to six U.S. products are expected to launch in H2, with full-year benefits flowing into FY 2028.
U.S. differentiated products are targeted to contribute meaningfully in FY 2028/FY 2029; the revenue aspiration is broad-based, not reliant on one product.
Gross margin is expected to remain in the 58%-60% range; cash-cycle improvement is expected, with recovery anticipated in the next quarter.
FY 2027 CapEx is expected near INR 300 crore; FY 2028 spending is expected to be slightly lower, mainly maintenance CapEx and intangibles.
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Latest events from Strides Pharma Science
- Record FY24 revenue and EBITDA, with debt reduction and FY25 growth targets.STAR
Q4 23/24 - Merger-driven growth lifted income above Rs 1bn, but liquidity and customer concentration remained risks.STARQ4 98/99
- Revenue grew and EBITDA margin rose, but overseas expansion weighed on net profit.STARQ4 00/01
- Global expansion lifted sales 36%, while debt-funded overseas growth pressured interest costs.STARQ4 01/02
- Currency shocks drove a consolidated loss, prompting a strategic pivot to regulated markets.STARQ4 02/03
- A sharp profit turnaround accompanied a strategic shift toward regulated markets.STARQ4 03/04
- Regulated-market growth and expansion lifted FY2005 profit, alongside significant funding and execution risks.STARQ4 04/05
- Revenue rose 43%, while lower profit reflected growth investments and margin pressure.STARQ4 05/06
- Revenue grew 13.75%, but one-off charges drove a consolidated FY2007 loss.STARQ4 06/07
Next Strides Pharma Science earnings date
Q3 26/2729 Jan, 2027
Strides Pharma Science
Next Strides Pharma Science earnings date
Q3 26/2729 Jan, 2027
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Frequently asked questions
Strides Pharma Science Limited is a pharmaceutical company engaged in the development, manufacturing, and distribution of generic medicines. The company specializes in niche and complex formulations across various therapeutic areas, including antibiotics, oncology, central nervous system, and dermatology. It operates a global network of manufacturing facilities and supplies products to regulated markets, including the United States, Europe, and emerging economies. The company is headquartered in Bengaluru, India, and its shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).