Laurus Labs Limited has informed the Exchange about Transcript
LAURUSLABS · price
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Laurus Labs posted strong Q1 FY26 results with revenue of INR 1,570 crores, up 31% year-on-year, driven by CDMO (INR 493 crores) and Generics (INR 1,048 crores, +12%). Gross margins expanded to 59% and EBITDA margins to 25% on better product mix and operating leverage, with PAT at INR 163 crores. Management announced three major capacity expansions: a 400-kiloliter microbial fermentation greenfield project in Vizag (going online by end-2026, scaling to 2 million liters), a gene therapy and ADC facility in Hyderabad, and a finished formulation plant under the Krka JV. The company plans INR 5,000 crores of capex over 5 years, funded mostly via internal accruals, with net debt-to-EBITDA guided at a max of 2-2.5x. CDMO contribution is expected to potentially touch 50% of revenue in the medium term, while ARV business is guided at INR 2,500 crores ± INR 200 crores for FY26.
Strong margin expansion and CDMO growth momentum reinforce the bull case on Laurus Labs, though management declined to provide CDMO revenue breakup by phase, Big Pharma contract details, and a clear timeline for the 50% CDMO mix target, which may keep some uncertainty around the pace of growth. Capex visibility and disciplined leverage guidance are positives for long-term shareholders.