Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · LAURUS LABS LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Operates as an R&D-driven pharmaceutical platform with two principal divisions. The CDMO (Contract Development and Manufacturing Organization) division supplies small-molecule active ingredients and finished dosage forms to global innovator customers from late-stage clinical through commercial supply, and earned ₹835 crores in Q1 FY27 (+69% YoY) with 55% of the mix from commercial supplies. The division is also investing in newer modalities — peptides, antibody-drug conjugates (ADCs), gene therapy and precision fermentation — with a 400+ KL fermentation Phase-1 capacity targeted to be live by end-CY2026. The Affordable Medicines division makes generic APIs and formulations for HIV (antiretrovirals, or ARVs), oncology and other therapeutic categories, recording ₹1,156 crores in Q1 FY27 (+10% YoY), with ARVs at roughly one-third of division revenue and a cumulative filing base of 92 Drug Master Files and 96 formulation dossiers. R&D spending ran at 5.8% of revenue in Q1 FY27 and the company held 24 quality audits in the quarter with no critical findings. Direct export intensity is stated at 55–60%, and FY27 capex guidance was raised to ₹2,000 crores (from ₹1,500 crores) to fund customer-led capacity, with cumulative FY22-27 capex exceeding ₹4,700 crores. Costs are dominated by materials (41% of FY26 revenue), with employee cost at 13.1% and depreciation at 7.0%; capital expenditure itself is reported at 15.7% of FY26 revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. CDMO (Small Molecule and New Modalities), Affordable Medicines (Generics API and Formulations). Asset-heavy, capex-intensive pharmaceutical manufacturer scaling its CDMO (innovator outsourcing) franchise alongside a high-volume generics business.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
4,936
6,041
5,041
5,554
6,813
EBITDA (ex other income)
1,422
1,592
777
1,055
1,778
margin %
28.8
26.4
15.4
19.0
26.1
Owners' profit
828
790
161
358
889
EPS, as reported (₹)
15.42
14.69
2.98
6.65
16.47
ROE % · ROCE %
24.8 · 27.7
19.6 · 24.4
3.9 · 7.9
7.8 · 12.1
16.4 · 19.7
Debt / equity (x)
0.52
0.49
0.61
0.59
0.44
Cash from operations
911
994
666
602
1,624
Capex
(877)
(990)
(678)
(641)
(1,070)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · LAURUS LABS LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
1,224
1,415
1,720
1,570
1,653
1,778
1,812
2,026
Profit before tax
23
131
312
224
270
327
361
481
Net profit
20
93
233
162
194
252
282
362
EPS (₹)
0.37
1.71
4.34
3.02
3.61
4.67
5.17
6.81
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
SUN PHARMACEUTICAL IND L
4,21,677
34.9
5.03
22.6
13.7
17.5
11.8
32.3
DIVI S LABORATORIES LTD
2,53,976
87.0
15.15
65.5
15.3
18.8
8.7
42.8
TORRENT PHARMACEUTICALS L
1,54,957
73.1
8.81
38.5
12.2
8.0
11.8
33.1
LAURUS LABS LIMITED ◆
1,17,877
107.7
21.70
65.6
16.4
17.2
7.2
32.0
ZYDUS LIFESCIENCES LTD
1,17,315
26.2
3.97
15.1
17.3
18.0
12.4
25.2
DR. REDDY S LABORATORIES
1,11,506
34.5
2.92
14.9
10.9
13.0
12.1
15.0
CIPLA LTD
1,10,320
32.7
3.20
16.9
11.2
14.7
8.0
19.7
MANKIND PHARMA LIMITED
1,02,829
50.3
6.21
28.3
11.7
10.8
—
27.3
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
107.7
30.8
144 of 158
9%
P/B
21.7
3.1
161 of 163
1%
ROCE
17.2
10.8
47 of 183
75%
ROE
16.4
9.8
39 of 166
77%
Debt / Equity
0.4
0.2
131 of 166
21%
EBITDA margin
31.9
17.5
28 of 165
84%
Revenue growth
29.1
16.3
49 of 161
70%
Profit growth
123.9
30.9
33 of 158
80%
Market cap
117877
806
4 of 181
98%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · LAURUS LABS LIMITED · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
14 Oct 2026 · Laurus Labs gets CareEdge-ESG 1+ rating from CARE ESG Ratings
credit debt
medium
—
—
14 Oct 2026 · Laurus Labs invests Rs 107.8 Cr in KRKA Pharma JV; stake unchanged at 49%
strategic transactions
high
—
—
13 Oct 2026 · Laurus Labs Q2 and H1 FY27 Earnings Call set for October 29
board shareholder meetings
low
—
—
13 Oct 2026 · Laurus Labs board to meet on Oct 29 for Q2 results and interim dividend
results
low
—
—
9 Oct 2026 · Laurus Labs files routine demat compliance certificate for Q2 FY27
compliance
minimal
—
—
6 Oct 2026 · Laurus Labs invests 12.1 cr in associate Kurnool Renewables via rights issue
strategic transactions
medium
—
—
25 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results
15 Sept 2026 · Laurus Labs to attend Goldman Sachs Healthcare CDMO Day in Singapore
board shareholder meetings
low
—
—
10 Sept 2026 · Laurus Labs to meet investors via ICICI Securities on Sept 17
board shareholder meetings
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
Where a broker report shows
This document shows
Why
A rating (BUY / ADD / REDUCE / SELL)
A state: the latest filed quarter and the measured reactions
an event is a fact; a rating is an opinion that requires SEBI RA registration
A target price and upside
The current price and the multiples against the group
a target is a forecast; a multiple is a measurement
Estimate years marked E
More audited years; no estimates
MarketPing publishes no forecasts — your own model lives on the Models page
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
