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Laurus Labs Results: Latest Quarterly Results & Analysis

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Laurus Labs Ltd. 23 Oct 2025 15:47 PM

Q2FY26 Quarterly Result Announced for Laurus Labs Ltd.

Pharmaceuticals company Laurus Labs announced Q2FY26 results

  • Revenue: Rs 1,653 crore compared to Rs 1,224 crore during Q2FY25, up 35%.
  • EBITDA: Rs 429 crore compared to Rs 182 crore during Q2FY25, up 136%.
  • EBITDA Margin: 26.0% for Q2FY26.
  • PBT: Rs 270 crore compared to Rs 23 crore during Q2FY25, up 1,074%.
  • PAT: Rs 195 crore compared to Rs 20 crore during Q2FY25, up 875%.

Satyanarayana Chava, Founder & Chief Executive Officer, said: “We continue to maintain leadership position in ARVs and make encouraging progress in delivering important clinical and commercial programs. Our Q2 reflects on-going expansion of CDMO business, supported by sustained growth in Generics.

Earlier this quarter we announced land allocation from Andhra government and proposed investments to support future business expansion, augmenting our offerings across manufacturing scale and new technologies. We also made strategic investment of USD 2 million in Aarvik Therapeutics to have access to novel Antibody-drug conjugates (ADC) technology and pipeline aimed at accelerating our integrated ADC services. I have increasing confidence that our R&D driven commercial strategy will continue to generate long-term value for our stakeholders.”

V V Ravi Kumar, Executive Director & Chief Financial Officer, said: “Our strong Q2 performance was in line with expectations. We are pleased to report that fundamentals of our business remain strong, with sustained growth momentum in CDMO and Generic business. We have achieved revenues of Rs 1,653 crore, representing 35% growth and EBITDA of Rs 429 crore, representing 136% growth. The EBITDA margins continue to remain very healthy at 26.0%, supported by continuing operating leverage.

Overall, we reported strong H1 performance. We achieved Rs 3,223 crore in revenues, representing 33% growth and EBITDA of Rs 818 crore, representing 132% growth, resulting in 25.4% EBITDA margins marking over 10% pts improvement over last year. Gross margins improved by over 4.5% pts to 59.6% due to favorable CDMO mix and operational improvements. Net Debt leverage has decreased significantly over last year to 1.3x EBITDA despite continuing CAPEX investments. Going ahead, we retain our focus to invest behind high value CDMO/CMO business opportunities to drive near and long-term growth and returns for our shareholders.”

Result PDF

Pharmaceuticals company Laurus Labs announced Q1FY26 results

  • Revenues: Rs 1,570 crore compared to Rs 1,195 crore during Q1FY25, change 31%.
  • EBITDA: Rs 389 crore compared to Rs 171 crore during Q1FY25, change 127%.
  • EBITDA Margin: 24.8% for Q1FY26.
  • PBT: Rs 224 crore compared to Rs 18 crore during Q1FY25, change 1144%.
  • PAT: Rs 163 crore compared to Rs 13 crore during Q1FY25, change 1154%.
  • EPS: Rs 3.0 for Q1FY26.

Satyanarayana Chava, Founder & Chief Executive Officer, said: “We made healthy progress to start the year with increasing contributions from CDMO business and continued advancement of pipeline projects, supported by Generic FDF. We are moving ahead with strong focus on commercial execution realizing the full potential from promising pipeline opportunities, business development and rapidly enhancing scale and technology capabilities.

We also commenced construction of various facilities across CDMO, Generics and FDF. Once complete, these facilities will fortify our ongoing commitment of being a high-quality development and manufacturing partner at scale including advanced therapies. We remain confident in our strategic direction and commitment as the source of sustainable value creation now and well into the future.”

V V Ravi Kumar, Executive Director & Chief Financial Officer, said: “We delivered a solid performance in Q1, in line with expectations. We are pleased to see sustained growth momentum fueled by increasing uptake in CDMO deliveries and healthy business fundamentals. We have achieved revenues of Rs 1,570 crore, representing 31% growth and EBITDA of Rs 389 crore, representing 127% growth. The EBITDA margins improved substantially to 24.8%, supported by continuing operating leverage. Gross margins stood strong at 59.4% due to favorable CDMO mix and ongoing process improvement initiatives.

We will continue to invest fully behind high value business opportunities to drive near and longterm growth and returns for our shareholders.”

Result PDF

Pharmaceuticals company Laurus Labs announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenues: Rs 1,720 crore compared to Rs 1,440 crore during Q4FY24, change 19%.
  • EBITDA: Rs 477 crore compared to Rs 259 crore during Q4FY24, change 84%.
  • EBITDA margin: 27.7% for Q4FY25.
  • PBT: Rs 312 crore compared to Rs 107 crore during Q4FY24, change 192%.
  • PAT: Rs 234 crore compared to Rs 76 crore during Q4FY24, change 208%.
  • EPS: Rs 4.3 for Q4FY25.

FY25 Financial Highlights:

  • Revenues: Rs 5,554 crore compared to Rs 5,041 crore during FY24, change 10%.
  • EBITDA: Rs 1,115 crore compared to Rs 798 crore during FY24, change 40%.
  • EBITDA margin: 20.1% for FY25.
  • PBT: Rs 484 crore compared to Rs 236 crore during FY24, change 105%.
  • PAT: Rs 358 crore compared to Rs 161 crore during FY24, change 122%.
  • EPS: Rs 6.6 for FY25.

Satyanarayana Chava, Founder & Chief Executive Officer, said: “We delivered a very good Q4 results and continued our transformative progress, reflecting robust demand for our CDMO offerings and meeting complex customer needs, supported by growth in FDF division. These results demonstrate the strength of our business model and give us confidence in our outlook. We are deepening our cooperation with major clients, and augmenting it with promising BD and capacity creation.

Our business remains well positioned to evolve into a well-diversified CMO/CDMO company with promising pipeline, enabling several technology platforms and commercial excellence, thanks to team commitment to the unified vision of delivering high quality integrated solution and securing our long-term growth potential.”

V V Ravi Kumar, Executive Director & Chief Financial Officer, said: “Despite the ongoing macroeconomic challenges, we have witnessed high level of demand for our offerings. For Q4, we delivered Rs 1,720 crore in revenues, growth of 19% and Rs 477 crore EBITDA grew by 84%, resulting in 27.7% margin. Gross margins remained healthy at 55% due to favorable CDMO mix and process optimization measures. The fundamentals of our business remain healthy.

Overall FY25 results, we have delivered revenues of Rs 5,554 crore, representing 10% growth and EBITDA stood at Rs 1,115 crore, growth of 40%. The EBITDA margin of 20.1% has substantially improved, supported by continuing operating leverage within CDMO business.

Going ahead, we remain confident in our growth expectations as we look forward to execute on long lead programs, new assets ramp up with revenue increasing over FY25 with continued focus on operational excellence. Our capital allocation strategy remain unchanged, prioritizing investments into high value business opportunities.”

Result PDF

Pharmaceuticals company Laurus Labs announced Q3FY25 results

  • 9MFY25 Revenues Rs 3,834 crore and 6% revenue growth, performance on track to deliver Full Year growth outlook with Q4 revenues accelerating on planned project deliveries.
  • Rs 638 crore EBITDA resulted in a margin of 16.6%, improved steadily with the gradual step-up in the asset utilization. Gross margins maintained at healthy levels 55.8%, improving 3.3% pts over last year on positive product mix.
  • Q3FY25 Revenues Rs 1,415 crore; 18 revenue growth, Rs 285 crore EBITDA; 56% growth resulted in a margin of 20.1%, Gross margins were at 56.9%.
  • Strengthening operational performance in CMO/CDMO with continued demand for complex API capabilities.
  • CAPEX investments in key growth projects are on track to support long term growth.
  • FY25 outlook retained; Revenue growth and EBITDA margins improvement, led by execution on few late-phase clinical projects along with reduction in net debt.

Satyanarayana Chava, Founder & Chief Executive Officer, said: “Q3FY25 operating performance has improved progressively; we have delivered healthy growth, driven by growing demand for our platform capabilities, effectively addressing evolving customer needs. The quarter witnessed robust growth in the CDMO and FDF division, partially offset by soft API performance. Healthy commercial execution is our top priority and our performance is well on track with revenues accelerating in Q4.

Based on our continued progress acroreoss diverse portfolio and pipeline projects I remain confident about our long-term future, and I acknowledge the focus and commitment of our team in making Laurus better positioned to deliver value to all stakeholder in coming years.”

V V Ravi Kumar, Executive Director & Chief Financial Officer, said: “We are pleased to report healthy progress for the quarter; we delivered Rs 1,415 crore in revenues, strong growth of 18% and Rs 285 crore EBITDA grew by 56%, resulting in 20.1% margin. Gross margins remained healthy at 56.9% due to favorable CDMO mix and process optimization measures. The fundamentals of our business remain healthy, driven by order book position and continued progress in CDMO projects.

Our 9MFY25 performance remain on track, with revenues reaching Rs 3,834 crore, representing 6% growth and EBITDA stood at Rs 638 crore, marking growth of 18%. The EBITDA margin of 16.6% has improved, supported by gradual ramp-up in the assets utilization rates. We reaffirm our Full year growth outlook, driven by scheduled CDMO project deliveries. Our capital allocation strategy remain unchanged, prioritizing investments into high value CMO/CDMO opportunities to drive near and long-term growth.”

Result PDF

Pharmaceuticals company Laurus Labs announced H1FY25 results

  • H1 Revenues Rs 2,419 crore and 1% revenue growth, performance on track to deliver Full Year growth outlook driven by scheduled project deliveries in CDMO.
  • Rs 353 crore EBITDA resulted in a margin of 14.6%, impacted by lower asset utilization and upfront cost absorption in growth projects.
  • Gross margins maintained at healthy levels of 55.1%, improving 3.5% pts over last year.
  • Q2 Revenues Rs 1,224 crore and flattish revenue growth, Rs 182 crore EBITDA resulted in a margin of 14.9%, Gross margins at healthy levels of 55.2%.
  • Encouraging demand for CMO/CDMO integrated service offering and complex APIs; pipeline momentum healthy.
  • CAPEX investments across key growth projects progressing as planned, to support long term growth.
  • FY25 outlook maintained; We expect better H2 reflecting facility ramp up, delivery of late-phase NCE projects and EBITDA margins improvement.

Satyanarayana Chava, Founder & Chief Executive Officer said: “We are pleased to see sustained demand in our CMO/CDMO services, supported by ongoing operational excellence and expanding platform capabilities. Opening of new R&D center significantly advances our one-stop ‘D & M’ capability in meeting global partner diverse needs and growing early phase enquiries. Q2 results demonstrates continued resilience in financial health, led by strong growth in CDMO vertical offset by lower sales in ARV and Oncology API business. We remain committed to deliver on key NCE opportunities in H2, which is in line with our Full year growth outlook. Looking at industry fundamentals, we are well positioned to capture value by maintaining our focus on solving customer complex needs and deliver long-term stakeholder value”

V V Ravi Kumar, Executive Director & Chief Financial Officer said: “During Q2, we delivered Rs 1,224 crore in revenues and Rs 182 crore EBITDA, resulting to 14.9% margin. Gross margins maintained healthy at 55.2% due to favorable CDMO mix and process optimization. Operating results affected from lower utilization of assets as we continue to prioritise resources towards delivering several complex projects at various clinical phases.

Soft H1 performance, in line with expectations. We achieved Rs 2,419 crore in revenues, representing 1% revenues growth, and Rs 353 crore EBITDA, resulting in 14.6% margin. Gross margins improved by over 3.5% pts to 55.1% indicating robust business health. Overall, Net Debt has increased over last year due to continued CAPEX investments in expanding CMO capability. However, with a better H2 performance, supported by facility ramp up, and margin improvements, we expect reduction in Netdebt leverage by end of the year.”

Result PDF

Pharmaceuticals company Laurus Labs announced Q1FY25 results:

  • In Q1FY25 Laurus delivered Rs 1,195 crore Revenues and 1% revenues growth, Softer Q1 performance in-line and is expected to pick up through H2
  • Sustained momentum in Key CDMO project delivery while strengthened scientific expertise
  • Rs 171 crore EBITDA resulted in a margin of 14.3%, impact from lower asset utilization and upfront cost in growth projects
  • Strong gross margins delivered at 55.1% levels, clocking improvement both YoY and sequentially
  • CAPEX across prioritised CDMO projects continued, supporting long-term plan to deliver attractive margins and secured customer base
  • FY25 outlook maintained; Deliver on medium to long term contracts and commercial opportunity in late-phase NCE projects along with EBITDA margins improvement

Satyanarayana Chava, Founder & Chief Executive Officer commented; “We have begun FY2025 on a positive note, sustaining momentum in our key CDMO clinical projects and demonstrating resilience in financial health. We are leveraging power of our comprehensive technology platform & commercial excellence to advance manufacturing of several clinical programs and maximising the value impact of our integrated model. Q1 results are on expected lines, supported from strong growth in Oncology API and firm demand in ARV offset by slightly subdued performance in other divisions. We have important opportunities ahead of us especially within CDMO division, and we are highly focused on allocating resources and realising them starting H2. Our commitment to disruptive technology in CGT space continued to do well. My confidence is strong and growing that we are taking right step to best position the company for value creation this year and well into future.”

V V Ravi Kumar, Executive Director & Chief Financial Officer commented; “We delivered Rs 1,195 crore in revenues, representing 1% growth, and Rs 171 crore EBITDA, resulting to 14.3% margin. While we continue to clock Gross margins of 55.1% during the quarter, the operating results was mainly affected from prioritised resource allocation into delivering several clinical phase complex projects partly causing lower asset utilization, quarter to quarter order cyclicality and dilution from growth projects. We expect performance to pick up mostly from H2, supported by on hand project deliveries. We remain committed to FY2025 outlook and our key CAPEX projects into high value business segments is advancing well to drive medium and long term growth.”

Result PDF

Pharmaceuticals company Laurus Labs announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue at Rs 1,440 crore, 4 % (YoY)
  • EBITDA at Rs 259 crore, -10 % (YoY)
  • EBITDA margins at 18.0 %
  • Spend on New Initiatives (Cell & Gene Therapy, Animal Health) at Rs 12 crore
  • PAT at Rs 76 crore, -26% (YoY)
  • PAT margins at 5.2%
  • EPS (Diluted) for the period at Rs 1.4 per share (not annualised)
  • Interim Dividend of Rs 0.40/- per share

FY24 Financial Highlights:

  • Revenue at Rs 5,041 crore, -17% (YoY) Excluding the large PO, growth of 9%
  • EBITDA at Rs 798 crore, -50 % (YoY)
  • EBITDA margins at 15.8 %
  • Spend on New Initiatives (Cell & Gene Therapy, Animal Health) at Rs 50 crore
  • PAT at Rs 161 crore, -80% (YoY)
  • PAT margins at 3.2%
  • EPS (Diluted) for the period at Rs 2.9 per share 

Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated “Laurus core results reflects continued resilience across our business divisions despite discontinuation of Covid related products purchase orders. We delivered underlying revenue growth of 9% driven by strong performance in FDF, CDMO, Onco API and Bio division. In the CDMO space, we are delivering on multiple RFPs involving higher chemical complexity and scale with increased customer engagement focusing on several sustainable technology platforms. Our on-going innovative CGT investment continue to report significant updates for the period under review, especially successful NexCAR19 commercial launch in India to treat cancers. We are entering FY25 with solid foundation and remain committed to grow by focusing on R&D led commercial excellence. We are prioritizing efforts to improve margin, particularly increasing asset utilization across network and delivering late phase commercial opportunity. At the same time, we have been investing in Laurus future and continuing to create value for all stakeholders.” 

Commenting on the results, V V Ravi Kumar, Executive Director & Chief Financial Officer said, “Overall FY24 reported operating result was challenging driven by selling price decline in ARV products, absence of large PO, and continued OPEX on growth projects/new initiatives. We achieved Rs 5,041 crore in revenues, representing 17% decline. Excluding the large PO the underlying growth was 9% over last year. Gross margin was 51.7% and EBITDA at Rs 798 crore resulting in 15.8% margin. The EBIDTA margin for the Q4FY24 is at 18.0% and reflecting sequential improvement. Despite operational challenges, our committed capacity built-up is on track and continuing our focus on productivity improvement. Going ahead, we are fully focusing on gradually returning to growth, prioritising investments in high value segments, improving Net debt leverage while defining our strategic roadmap to ensure long-term profitable and sustainable growth. We are pleased with our Q4 sequential improvement, supported from all divisions."

Result PDF

Pharmaceuticals company Laurus Labs announced Q2FY24 & H1FY24 results:

  • Q2FY24:
    • Revenue was Rs 1,224 crore, a 22% YoY decrease. Excluding Purchase Orders, there was an 18% growth.
    • EBITDA was Rs 188 crore, down 58% YoY.
    • EBITDA margins stood at 15.4%.
    • Profit After Tax (PAT) amounted to Rs 37 crore, down 84% YoY.
    • PAT margins were at 3.0%.
    • Earnings Per Share (EPS) for the period, on a diluted basis, were Rs 0.6 per share (not annualized).
  • H1FY24:
    • Revenue was Rs 2,406 crore, showing a 23% YoY decrease. Excluding Purchase Orders, there was a 14% growth.
    • EBITDA amounted to Rs 356 crore, indicating a substantial 61% YoY decline.
    • EBITDA margins were at 14.8%.
    • Profit After Tax (PAT) was Rs 62 crore, down by 87% YoY.
    • PAT margins stood at 2.6%.
    • Earnings Per Share (EPS) for the period, on a diluted basis, were Rs 1.1 per share (not annualized).
    • An interim dividend of Rs 0.40 per share was declared.

Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated, “ImmunoAct associate company of Laurus became the first strategic collaboration to win marketing approval for India’s first CAR-T therapy, NexCAR19. We are proud of this important innovative breakthrough in treating blood cancer. We feel a combination of their pipeline, technology and Laurus' support in building manufacturing capabilities will accelerate our pursuit of next-generation innovation in cell therapies and new drug discovery. Q2 operating results started to improve and the health of our businesses is intact. Momentum in generic business has picked up during the quarter and CDMO-Synthesis is stable with a healthy scale-up in the project pipeline along with the expansion of our strategic partnerships. Our investments in transformative technology platforms are making good progress and future CDMO growth prospects are very encouraging. The recovery we saw in the quarter gives us confidence that we will have a better H2 resulting from both a healthy order book and strong commercial execution. Our priorities remain consistent on ensuring greater business resilience by accelerating our scientific advantage to deliver the best external and internal opportunities as well as long-term value creation.”

 

 

Result PDF

Pharmaceuticals company Laurus Labs announced Q1FY24 results:

  • Revenue at Rs 1,182 crore, down 23% YoY
  • EBITDA at Rs 168 crore, down 63% YoY
  • EBITDA margins at 14.2%
  • PAT at Rs 25 crore, down 90% YoY
  • PAT margins at 2.1%
  • EPS (Diluted) for the period at Rs 0.5 per share (not annualised)

Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated, “While our operating results this quarter were primarily impacted by lower sales, operational deleverage and elevated expenses, the underlying demand for key growth portfolio within Non-ARVs generics and CDMO progress remains strong and healthy. ARV business has incrementally stabilised on an overall basis and therefore we remain optimistic about our H2 growth prospects as indicated earlier. During the quarter, Laurus continued to advance its R&D-driven commercial strategy by successfully signing its first multi-year commercial partnership in Crop Science and further deepening its commitment to the emerging CGT technology platform. Our CDMO growth projects are on track with an Animal Health manufacturing block commissioned recently and a dedicated R&D center coming online in late FY24. We remain committed to ensuring greater business resilience and long-term performance, with growing scientific capabilities remaining the source of our company’s energy and value creation.”

Commenting on the results, V V Ravi Kumar, Executive Director & Chief Financial Officer said, “We delivered a subdued financial performance for Q1FY24. We achieved Rs 1,182 crore in revenues, representing a 23% decline, and Rs 168 crore EBITDA, resulting in a 14.2% margin. Performance was mainly affected by operational deleverage, material drop in the CDMO business, and price fall in the ARV portfolio over last year. We are anticipating a rebound from H2, with recovering revenue trends, positives from cost improvement programs, and raw material price stabilisation. Our future capex projects towards strengthening CDMO and Bio division are advancing as per the schedule and Debt leverage position remains comfortable”

 

Result PDF

Pharmaceuticals company Laurus Labs announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Revenue at Rs 1,381 crore, decreased by 3% (YoY)
    • EBITDA at Rs 287 crore, decreased by 28% (YoY)
    • EBITDA margins at 20.8%
    • PAT at Rs 103 crore, decreased by 55% (YoY)
    • PAT margins at 7.5%
    • EPS (Diluted) for the period at Rs 1.9 per share (not annualised)
    • Interim Dividend of Rs 1.2/- per share.
  • FY23:
    • Revenue at Rs 6,041 crore, increased 22% (YoY)
    • EBITDA at Rs 1,594 crore, increased by 11% (YoY)
    • EBITDA margins at 26.4%
    • PAT at Rs 790 crore, decreased by 4% (YoY)
    • PAT margins at 13.1%
    • EPS (Diluted) (face value of Rs 2/-) at Rs 14.6 per share

Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated, "FY23 has been a year of significant achievement and meaningful progress despite a challenging macro environment. We delivered strong full-year results driven by robust underlying business performance in our key growth pillars CDMO, and Non-ARVs generic portfolio. Our R&D-driven commercial strategy continued to make advancements at speed and we are making efficient use of strongly linked technology platform and manufacturing excellence to seize new business opportunities, and widening our target market. Our investment programs are well on track with a focus on long-term success. We are also continuing to drive forward our sustainability agenda.

We are entering FY24 with greater confidence that we’re creating a sustainable engine that will bring forth greater business resilience and generate long-term sustainable value for stakeholders well into next decade."

Commenting on the results, V V Ravi Kumar, Executive Director & Chief Financial Officer said, “We delivered good financial performance for FY23 in line with our revised outlook. We achieved Rs 6,041 crore in revenues, representing 22% revenues growth, and Rs 1,594 crore EBITDA, equating to 26.4% margin. Business mix had positively contributed to margins but the negative operating leverage on new capacities commissioned, higher inflation and Fx impact let to the overall margin fall compared to last year. We are working on several initiatives around efficiency improvement, which should partly mitigate its impact in FY24. Our future capex projects towards strengthening CDMO and Non-ARV generics are advancing as per schedule and Debt leverage position remains comfortable.

Our Q4 results was challenging driven by steep fall in CDMO revenues and higher upfront cost of Capex projects and R&D Projects. We achieved, Rs 1,381 crore in revenues, representing 3% revenues decline, and Rs 287 crore EBITDA, resulting in 20.8% margin."

 

Result PDF

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