This Smallcap Pharma Shares which deals in the business of generic formulations manufacturing in different dosage forms surged 6 percent after its associate OneSource received approval from BSE & NSE for listing.
Share Price Movement
In Thursday’s trading session, the share price of Strides Pharma Science touched a day’s high of Rs. 627 per share which was up by 7.79 percent. The stock reiterated from the day’s high and was trading at Rs. 620.45 per share which is 6.67 percent higher than the previous closing price of Rs. 581.65 per share.
What happened
The company’s stock surged after the company got approval for listing its associate company which is India’s first Specialty Pharma CDMO named OneSource from BSE and NSE. The company received approval on Wednesday, January 22, 2025, and as per filing the OneSource company is to get listed under the Scrip Code for NSE: ONESOURCE and BSE:544292. It will be listed on bourses dated 24th January 2025, Friday on NSE and BSE.
De-merger
Strides Pharma Science had received approval from the National Company Law Tribunal of demerger the Identified CDMO business of Strides and Soft Gelatin Business and Steriscience into OneSource company. They had a fixed record date on 06th December 2024 and shareholders were to receive 30 fully paid equity shares in OneSource for every 60 shares of Strides Pharma.
Guidance
The company said that they are committed to achieve $400 Million revenue target from the US Business in the upcoming two to two and half years.
Financials
In its Q2FY25 financial results, Strides Pharma reported revenue of Rs.1,201 crore, a 20.22 percent increase from Rs.999 crore in the same quarter of the previous year. The Profit After Tax from a loss of Rs. 149 crore in Q2FY24 to a profit of Rs.94 crore in Q2FY25.
Company Profile
Strides Pharma Science Ltd is headquartered in India. They specialize in developing and manufacturing niche generic pharmaceuticals. The company focuses on regulated markets and has a diverse portfolio of over 65 products.
Written by – Santhosh S
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