Strides Shasun stock declines after reporting loss in March quarter

The institutional business continues to remain under pressure due to a decline in anti-malarial drugs funding.

May 18, 2018 09:05 IST India Infoline News Service

Strides Shasun stock declined 21.5% after it reported 2% yoy decline in the revenue to Rs664.2cr.

EBITDA declined by 33% yoy to Rs86.5cr in Q4FY18. EBITDA margins were at 13% in Q4FY18 vs 16.4% in Q3FY18 and 19.1% in Q4FY17.

Adjusted PAT declined by 77% yoy to Rs22.5cr in Q4FY18.

The company said that it has not achieved the expected market share in two products, which were launched through partnership. It said that the potassium citrate and Omega 3 market opportunity has shrunk by 50% due to the competition.

The institutional business continues to remain under pressure due to a decline in anti-malarial drugs funding.

The stock is currently trading at Rs394.50 down by Rs108.45 or 21.56% from its previous closing of Rs502.95 on the BSE. The scrip opened at Rs507.10 and has touched a high and low of Rs507.10 and Rs378.70 respectively.

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