CARE Ratings Ltd, Avalon Technologies Ltd, Adani Green Energy Ltd and Easy Trip Planners Ltd are among the other losers in the BSE's 'A' group today, 04 December 2024.Strides Pharma Science Ltd lost 5.11% to Rs 1513.1 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 34509 shares were traded on the counter so far as against the average daily volumes of 30958 shares in the past one month.CARE Ratings Ltd crashed 4.56% to Rs 1430. The stock was the second biggest loser in 'A' group.On the BSE, 4186 shares were traded on the counter so far as against the average daily volumes of 11904 shares in the past one month.Avalon Technologies Ltd tumbled 4.55% to Rs 875. The stock was the third biggest loser in 'A' group.On the BSE, 53104 shares were traded on the counter so far as against the average daily volumes of 1.01 lakh shares in the past one month.Adani Green Energy Ltd dropped 3.66% to Rs 1264.35. The stock was the fourth biggest loser in 'A' group.On the BSE, 2.38 lakh shares were traded on the counter so far as against the average daily volumes of 6.83 lakh shares in the past one month.Easy Trip Planners Ltd corrected 3.53% to Rs 16.38. The stock was the fifth biggest loser in 'A' group.On the BSE, 52.31 lakh shares were traded on the counter so far as against the average daily volumes of 23.43 lakh shares in the past one month.Powered by Capital Market - Live

Strides Pharma Science has allotted 2,04,500 equity shares under ESOP. Consequent to above, the paid-up share capital of the Company has increased from Rs. 91,95,82,140 consisting of 9,19,58,214 equity shares of Rs. 10/- each to 92,16,27,140 consisting of 9,21,62,714 equity shares of Rs. 10/- each. Powered by Capital Market - Live

Strides Pharma Science has fixed 06 December 2024 as record date for r determining names of the equity shareholders of Strides who shall be entitled for allotment of equity shares by OneSource, as consideration under the scheme of arrangement. Powered by Capital Market - Live

Strides Pharma Science announced that its associate company, OneSource Specialty Pharma has successfully completed the fundraise activity and has allotted equity shares to the marquee domestic and international investors who participated in this issue. OneSource Specialty Pharma has allotted 6,277,909 fully paid up equity shares at a price of Rs 1,276/- (including a premium of Rs 1,275/-) per share on a private placement basis to marquee domestic and international investors. The total consideration received from the allotment stands at Rs 801 crore, valuing OneSource at a pre-money equity valuation of USD 1.65 billion. This milestone reinforces OneSource's strong positioning as India's first specialty pharma CDMO and its readiness for robust growth ahead of its proposed listing. Powered by Capital Market - Live

Strides Pharma Science has received a significant boost with the National Company Law Tribunal (NCLT) approving the scheme of arrangement for the creation of OneSource Specialty Pharma. This decision paves the way for India's first specialty pharma Contract Development and Manufacturing Organization (CDMO). The creation of OneSource brings together the specialized businesses of Strides, Steriscience and the high-end biologics CDMO business from OneSource (formerly Stelis Biopharma). This integration, underpinned by a recently secured equity commitment of Rs 801 crore ($95 million) from a group of renowned investors, at a pre-money equity valuation of $1.65 billion, positions OneSource for robust growth, Strides Pharma Science said in a statement. Following NCLT approval, OneSource is set to list its equity shares on the BSE and NSE, subject to regulatory clearances. Strides shareholders will receive one OneSource equity share for every two Strides shares held. The demerged undertakings from Strides and Steriscience will be vested with OneSource effective 1 April 2024. Effective date of de-merger shall be communicated to the stock exchanges in due course. This strategic move is expected to unlock value for Strides' stakeholders. Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche pharmaceutical products. It reported a consolidated net profit of Rs 93.23 crore in Q1 FY25 as against a net loss of Rs 131.34 crore posted in Q2 FY24. Revenue from operations stood at Rs 1201.1 crore in the quarter ended September 2024, registering a growth of 20.17% from Rs 999.43 crore posted in the quarter ended September 2023. Powered by Capital Market - Live

Strides Pharma Global, Singapore (SPG), a wholly owned step-down subsidiary of Strides Pharma Science, is acquiring balance stake in Strides Pharma International AG (formerly Fairmed Healthcare AG) (Strides Switzerland), a step-down subsidiary of the Company for an aggregate consideration of ~CHF 1.01 million. SPG currently owns 70% stake in Strides Switzerland. As part of business consolidation and to achieve operational synergy, SPG is acquiring the balance 30% stake in Strides Switzerland. Strides Switzerland is strategically positioned to serve key markets in Europe. The acquisition marks a significant milestone in Strides' expansion efforts, further strengthening its position in the region. The business is led by  Oren Weininger, who is the longstanding CEO of Strides Switzerland. Oren shall continue to lead the business in this region. His wealth of experience and expertise will drive company's continued success and growth in the European market.Powered by Capital Market - Live

Net profit of Strides Pharma Science reported to Rs 93.23 crore in the quarter ended September 2024 as against net loss of Rs 131.34 crore during the previous quarter ended September 2023. Sales rose 20.18% to Rs 1201.11 crore in the quarter ended September 2024 as against Rs 999.43 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1201.11999.43 20 OPM %18.5711.09 - PBDT169.2668.14 148 PBT118.738.03 1379 NP93.23-131.34 LP Powered by Capital Market - Live

Revenue from operations stood at Rs 1201.1 crore in the quarter ended September 2024, registering a growth of 20.17% from Rs 999.43 crore posted in the quarter ended September 2023. Profit before exceptional items and tax was at Rs 131.54 crore in Q2 FY25, zoomed 161.61% from Rs 50.28 crore recorded in Q2 FY24. The company reported an exceptional loss of Rs 3.87 crore during the quarter. The firm reported quarterly EBITDA of Rs 235.80 crore in Q2 FY25, registering a growth of 30.92% year on year. EBITDA margin improved to 19.6% in Q2 FY25 as compared to 17.5% recorded in the corresponding quarter previous year. Gross margin grew by 15.6% YoY to Rs 703.20 crore during the quarter. Gross margin reduced by 72bps YoY to 58.5% in the quarter ended September 2024. US revenues at a historic high of $75m in Q2 FY25, grew 26.2% YoY. The company said that The US business poised to achieve the approximately $400million objective by FY27-28, reaffirming FY25 revenue outlook of $285million - $300million. Arun Kumar, founder & executive chairperson, and Badree Komandur, MD & group CEO, 'We continue to deliver on the momentum built over several preceding quarters and delivered another strong quarter. Q2FY25 demonstrated sustained growth across all markets fueled by new product launches. US operations reported highest ever quarterly revenue of $75m in Q2FY25. Strong Y-o-Y improvement in absolute EBITDA and EBITDA margin reflects our continued focus on operational efficiency and profitability.' Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche pharmaceutical products. Shares of Strides Pharma Science shed 0.15% to currently trade at Rs 1551.30 on the BSE. Powered by Capital Market - Live

Strides Pharma Science will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live

The fundraise is being led by HBM Healthcare Investments and associated investors, with the additional participation inter alia from WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings and SBI Life Insurance Co. The share subscription agreements are being executed at a pre-money equity value of $1.65 billion, delivering to Strides' shareholders an embedded value of Rs 663 per share of Strides' holding in OneSource representing an around 82% premium over the previous embedded value of Rs 364 per share as per the scheme of arrangement announced earlier in September'23. Earlier on 25th September 2023, the company announced the creation of OneSource, India's first specialty pharma pure-play CDMO player by integrating Stelis' Biologics CDMO, SteriScience's Complex Injectables, and Strides' Soft Gelatine businesses in a single entity by way of Scheme of Arrangement. As part of the Scheme, Strides shareholders are to receive 1 share of OneSource for every 2 shares of Strides. OneSource is in the process of seeking final approval for the Scheme from NCLT, Mumbai Bench, to thereafter achieve the listing of equity shares by March'25, upon receipt of regulatory approvals. The company stated in an exchange filing, Business updates of OneSource and Strides will be part of Q2FY25 earnings reporting scheduled for the later part of October '24. Arun Kumar, founder of Strides Group, and Neeraj Sharma, CEO of OneSource, said, 'We are delighted to have received an overwhelming response to the pre-listing fundraise from a marquee set of investors on our cap table prior to our listing. Their strong support is a testament to the confidence they have in our vision and strategic direction. This fundraise will enable us to accelerate our growth plans, right-size our debt book, and commit significant new capex for a strong order book across our 3 platforms.' Badree Komandur, MD & Group CEO of Strides said, 'We are pleased to have successfully received equity commitments for OneSource, ensuring its future growth. The transaction will unlock around Rs 6,100 crore (approximately $ 725 million) of value for Strides'shareholders. The significant premium that will be achieved from this transaction for Strides' shareholders is a testament to our continued value creation for our stakeholders. Strides Pharma Science is engaged in developing and manufacturing a wide range of IP-led niche Pharmaceutical products. The company reported a consolidated net profit of Rs 70.20 crore in Q1 FY25 as against a net loss of Rs 7.11 crore posted in Q1 FY24. Revenue from operations stood at Rs 1,087.50 crore in the quarter ended June 2024, registering a growth of 16.93% YoY. The counter hit an all-time high at Rs 1,651.15 in intraday today.Powered by Capital Market - Live