Aug 08, 2022 04:01 PM
Pharmaceuticals firm Laurus Labs Announced Q1FY23 Result :
Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated “Laurus Lab's performance in the first quarter of the current financial year reflects our efforts towards strengthening and diversifying our business by an increased focus on Non-ARV APIs and Formulations and high-growth CDMO segments. This strong momentum has been delivered because of our efforts toward a sustainable supply chain, capacity creation, and on-time delivery of products during the current challenging environment. Pricing pressure in ARV APIs and the Formulation business was significant during this quarter, and ARV FDF volumes would increase in the coming quarters. The high-margin CDMO business growth helped the organization deliver very good revenue and profit.
Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said; “In Q1 FY23, Laurus Lab has continued its strong performance with 20% revenue growth to Rs 1,539 crs, driven by solid growth in our CDMO-Synthesis business. EBITDA came at Rs 454 crs with consistent EBITDA margins of 29.5% as better mix more than offset for depressed pricing in ARV business. Our ROCE on annualised basis stood healthy ~29.4% with comfortable Balance sheet position. In Q1, Laurus Lab invested a total of Rs 209 crs Capex and we are on track to execute on our future capex schedule”.
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Laurus Labs Ltd is in the Pharmaceuticals sector with the Market Capitalization of worth Rs. 37508.48 crores, it is incorporated in the year 2005. It features consolidated sales of Rs. 1220.60 crores in June 2021. The company is also listed in the Bombay Stock Exchange (BSE) with the code 540222 and additionally listed in the National Stock Exchange (NSE) with the code LAURUSLABS.
Laurus Labs is one of the top pharmaceuticals companies in the country, holding a leadership position in research & development and manufacturing of generic APIs. The company is also working with several top pharmaceuticals companies worldwide for research & development with a primary focus on anti-retroviral, Hepatitis C, and Oncology drugs. The company also owns around 155 patents. The headquarters of Laurus labs are situated in the city of Hyderabad, while its manufacturing plants are located in Visakhapatnam, Hyderabad, and Bengaluru. Laurus Labs has also received several approvals from major regulatory medical bodies worldwide, such as WHO, USFDA, KFDA, MHRA, etc. In March’20, Laurus Labs received approval from USFDA for hydroxychloroquine tablets, which were initially used to treat the COVID-19 patients. The promoters within the company currently hold 53.56% of the stake in the company, while the Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) hold 6.65% and 3.44% of the stake. The balance of 36.35% is by others (retail investors).
In June 2021, quarterly net sales were Rs. 1,220.6 crores, which has increased by approximately 25.78% from Rs. 970.4 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 222.08 crores, which has grown by 39.87% from a net profit of Rs. 158.78 crores in June 2020. In June 2021, operating profit was reported at Rs. 1,032.11 crores, which is also increased by 25.79% as compared to an operating profit of Rs. 820.49 crores for the quarter ending in June 2020. From Rs. 2.97 in June 2020, the EPS of Laurus Labs has grown to just Rs. 4.14 per share in June 2021. LAURUSLABS’s stock closed at Rs. 689.35 on 16th August’2021 (NSE) and has returned 86.97% in the last six months and 234.49% within the last year.
Plot No 21 Jawaharlal Nehru, Pharma City Parawada, Visakhapatnam, Andhra Pradesh, 531021
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