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Indian generics maker selling finished-dose medicines mainly in the US and other regulated markets, plus emerging markets and tenders.
Indian generics maker selling finished-dose medicines mainly in the US and other regulated markets, plus emerging markets and tenders.
Sells ready-to-use generic medicines, with the US the largest market, and also supplies other regulated, growth and institutional markets through tenders. In 2025 it split off its contract-manufacturing and soft-gel business into the separately listed OneSource Specialty Pharma, leaving a leaner generics business.
In one line: A niche soft-gel/regulated-market generics exporter.
Moat: narrow (regulatory licence, process know-how). Approved generic filings and regulator-inspected plants; crowded field with many similar generics makers.
Headquarters: Bengaluru, India · Founded: 1990 · Employees: 5,394
Size Strides Pharma Science (STAR.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $973M, the 603rd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹999.60 on 6 Nov 2026.
Performance Over six months the shares fell 12.8%, against -13.4% for the median peer and 0.0% for the India market (cap-weighted) — 10th highest of 19 in its peer set.
Growth Revenue grew 11.3% over the last twelve months (peer median +2.4%); the operating margin is 14.2% (peer median 4.5%).
Valuation It trades at 15.5× forward earnings against a peer median of 24.5× (3rd cheapest of 10).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.9 points below its cost of capital (12.4% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹52.1B | ₹47.8B | ₹44.8B | ₹38.3B | ₹36.7B |
| Revenue growth | — | +7% | +17% | +4% | — |
| Gross profit | ₹19.1B | ₹13.6B | ₹11.8B | ₹8.51B | ₹8.05B |
| EBITDA | ₹9.56B | ₹7.69B | ₹7.10B | ₹5.15B | ₹3.66B |
| Net income | ₹6.17B | ₹5.56B | ₹4.05B | -₹1.20B | -₹2.21B |
| Free cash flow | n/a | ₹1.21B | ₹2.15B | ₹3.06B | -₹2.68B |
| Capital expenditure | n/a | ₹4.18B | ₹2.42B | ₹1.18B | ₹949M |
| Total debt | ₹19.0B | ₹17.6B | ₹18.8B | ₹25.2B | ₹30.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Strides Pharma Science STAR.NS | $973M | -13% | +11% | 14% | 15.5× | 18.1% |
| Aurobindo Pharma AUROPHARMA.NS | $10.9B | +22% | +14% | 15% | 22.4× | 21.0% |
| Lupin LUPIN.NS | $9.65B | -19% | +24% | 24% | 20.9× | 8.8% |
| Zydus Lifesciences ZYDUSLIFE.NS | $12.7B | +27% | +24% | 17% | 29.8× | n/a |
| Granules India GRANULES.NS | $2.10B | +8% | +22% | 17% | 24.9× | 23.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | STAR.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.2% | -6.6% | 7th lowest of 20 |
| 6-month return | -12.8% | -13.4% | 10th highest of 19 |
| Distance from 52-week high | -20.7% | -34.0% | 5th highest of 21 |
| Revenue growth (TTM) | +11.3% | +2.4% | 7th highest of 18 |
| Operating margin | 14.2% | 4.5% | 4th highest of 18 |
| Forward P/E | 15.5× | 24.5× | 3rd cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | 18.1% | 9.5% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +7.8% | +6.7% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | +10.3 pp | -0.3 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | -1.9 pp | -2.2 pp | 8th highest of 16 |
| EV / EBITDA | 11.5× | 19.4× | 3rd cheapest of 8 |
| Net debt / EBITDA | 1.8× | 2.1× | 4th least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Strides Pharma Science STAR.NS | India | $973M | -13% | +11% | 14% | 15.5× | 18.1% | +7.8% |
| Jiangsu Yahong Meditech 688176.SS | China | $973M | -12% | +15% | -172% | n/a | n/a | n/a |
| Kissei Pharmaceutical 4547.T | Japan | $973M | -16% | +6% | 6% | 12.0× | n/a | n/a |
| Procter & Gamble Health PGHL.NS | India | $971M | +4% | +13% | 31% | 24.7× | 5.5% | +9.3% |
| MoonLake Immunotherapeutics MLTX | United States | $981M | -32% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Garden Biopharmaceutical 300401.SZ | China | $983M | -7% | +2% | 24% | 24.4× | 10.2% | +13.4% |
| SSY 2005.HK | Hong Kong | $990M | +10% | -4% | 12% | 13.0× | 2.1% | -0.5% |
| Savara SVRA | United States | $992M | -8% | n/a | n/a | n/a | n/a | n/a |
| Immatics IMTX | United States | $952M | -44% | -65% | -556% | n/a | n/a | n/a |
| Harbin Gloria Pharmaceuticals 002437.SZ | China | $999M | -15% | -16% | 13% | n/a | 8.8% | -6.9% |
| Northeast Pharmaceutical 000597.SZ | China | $948M | -10% | -6% | 3% | n/a | -6.8% | -0.7% |
| City Therapeutics CTY | United States | $944M | n/a | +388% | -442% | n/a | n/a | n/a |
| KPC Pharmaceuticals 600422.SS | China | $1.00B | -7% | -41% | -10% | n/a | n/a | n/a |
| Hunan Warrant Pharmaceutical 688799.SS | China | $942M | -20% | +5% | 9% | 33.8× | n/a | n/a |
| Harrow HROW | United States | $1.01B | -30% | +21% | 2% | 21.9× | 51.8% | +41.0% |
| Nxera Pharma 4565.T | Japan | $932M | +63% | +24% | 14% | 24.5× | 16.2% | +27.3% |
| GuangYuYuan Chinese Herbal Medicine 600771.SS | China | $930M | -24% | -6% | 5% | 41.1× | 33.2% | +4.2% |
| Dezhan Healthcare 000813.SZ | China | $928M | -18% | -10% | -121% | n/a | n/a | n/a |
| Oscotec 039200.KS | South Korea | $1.02B | -30% | +233% | 62% | 56.8× | -9.5% | +18.1% |
| Guangxi Wuzhou Zhongheng 600252.SS | China | $1.03B | -11% | -43% | -42% | n/a | 11.9% | -13.7% |
| Symbiotec Pharmalab SYMBIOTEC.NS | India | $1.03B | n/a | n/a | n/a | n/a | n/a | n/a |