Laurus Labs registers revenue growth
of 31% and PAT Growth of 40%
Q1 FY22 Revenues up 31 %
Q1 FY22 EBITDA at ₹ 400 crs, up 41%, Margins at 31 %
Q1 FY22 PAT at ₹ 241 crs, up 40% Margins at 19 %
Chennai, July 29, 2021: Laurus Labs Ltd. (Laurus BSE: 540222, NSE: LAURUSLABS, ISIN: INE947Q01028), a leading research and development driven fully integrated pharmaceutical and biotech company in India announces its Q1 FY22 results.
Q1 FY22 Laurus reported:
- Total net revenue ₹ 1,279 crs, up 31% (Y-o-Y)
- EBITDA ₹ 400 crs, up 41% (Y-o-Y)
- EBITDA margins at 31 %
- PAT at ₹ 241 Cr, up 40% (Y-o-Y)
- PAT margins at 19% (Y-o-Y)
- EPS (Diluted) for the period at ₹ 4.5 per share (not annualised), up by 40.6 % (Y-o-Y)
Commenting on the results announcement, Dr. Satyanarayana Chava - CEO, said;
“We have started the financial year 22 with strong growth in FDF, with the strong demand in ARV’s for LMIC region and our portfolio expansion in developed markets. Our Synthesis business retained its growth momentum powered by the increased business from the existing clients and new clients; the segment registered strong growth with +95% YoY, with ongoing commercial supplies for four products. In the API segment, Oncology and ARV APIs registered healthy growth. In contrast, revenue from our other API witnessed a slowdown, and the growth is expected to restore from Q2 FY22, we remain confident of maintaining a growth trajectory in the Generic API business for FY22. In addition, Laurus Bio started contributing to the revenue and would add more from Q2 FY22, with the new fermentation capacities added in recombinant food protein.”
Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said;
“We are happy that Laurus Labs has registered revenue ₹ 1279 Crs in Q1 FY22, with 31% YoY. Our EBITDA margins were maintained at 31%. Laurus Bio has started contributing to revenues and margins from Q1 FY22. Our Gross Margins continue to grow on the back of a better product mix and improved sales from all the segments. Our performance focus is on growth driven by superior execution and completing our Future Ready strategy with manufacturing capacity expansions - a combination of brown and greenfield in API, FDF, and Synthesis divisions. With sustained business opportunities, we remain confident of achieving sustainable return ratios in the FY2022-23 and beyond.”
Business Highlights:
Overall
- Total Income at ₹ 1,279 Crs in Q1 FY22 growing by 31 % (Y-o-Y) Growth driven by sustained strong momentum across all business segments; particularly FDF and Synthesis
- R & D spent ₹ 49 Crs and 3.8 % of sales in Q1 FY22.
Generic FDF
- Recorded sale of ₹ 521 Crs: 41 % contribution in FY 22 Q1
- Validation completed for 4 products apart from filling of 28 ANDAs & NDAs in total.
- Capacity expansion is in progress
Generic API
- Filed 296 patents out of that 155 patents granted as of June 30, 2021
- Filed 66 DMFs
- Capacity expansion is in progress
Synthesis
- Total Number of Active Projects in the CDMO division stood at 50 as of 30th June 2021.
- Commercial supplies ongoing for 4 products
