Q4FY22 Result Update – Laurus Labs - ICICI Direct

Significant beat propelled by synthesis and formulations.

- Sales were up 1% YoY to Rs. 1425 crore, which were optically muted due to ARVs destocking impact during the year and a high base of Q4FY21

- EBITDA was at Rs. 397 crore, down 16% YoY with margins at 27.8%

- Adjusted PAT was at Rs. 230.5 crore (down 22% YoY)

Key triggers for future price performance

- Synthesis: Well-positioned to meet fast growing global demand for NCE drug substance and drug products. Setting-up dedicated R&D centre (operational FY23) & three greenfield manufacturing units (FY24, FY25)

- Formulations: Product launches in anti-diabetic (FY23) & CV portfolio (FY24) in US & Europe with market opportunity at ~ US$45 billion. Brownfield expansion (Unit-2) by Q1FY23 taking total capacity to 10 billion units

- API: Robust order-book in anti-diabetic, CV & PPI amid capacity expansion in high growth therapeutics with total reactor volume of +7000KL by FY23

- Biologics: Expanding the biologics CDMO at scale. Commercial scale-up of the new fermentation capacity (food proteins). Plans to add 1 million litre fermentation capacity in Phase 1

- Laurus is evolving as a strong vertically integrated player with strong order book visibility and incremental traction from custom synthesis

Shares of Laurus Labs Limited was last trading in BSE at Rs. 592.75 as compared to the previous close of Rs. 583.65. The total number of shares traded during the day was 172718 in over 5347 trades.

The stock hit an intraday high of Rs. 601.50 and intraday low of 576.95. The net turnover during the day was Rs. 102527983.00.

For details, click on the link below: Link to the report

Source : Equity Bulls

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LaurusLabs INE947Q01028 Q4FY22 FY2022 ResultUpdate ICICIDirect