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Laurus Labs Ltd crosses revenue of Rs. 700 crores in Q2 FY20

Posted On: 2019-10-31 19:35:42

Laurus Labs Ltd. (Laurus BSE: 540222, NSE: LAURUSLABS, ISIN: INE947Q01010), a leading research and development driven pharmaceutical company in India announcesits Q2 & H1 FY20 results.

Q2 FY20 Laurus reported:

- Consolidated Revenue at INR. 7,124 mn, up 21% (Y-o-Y) and 29% (Q-o-Q)
- EBITDA INR 1,391 mn, up 61% (Y-o-Y) and 60% (Q-o-Q)
- EBITDA margins at 20 %
- PAT at INR. 566 mn, up 249% (Y-o-Y) and 275% (Q-o-Q)
- EPS (Diluted) for the period at INR. 5.3 per share (not annualised), up 253% (Y-o-Y) and 279% (Q-o-Q)

H1 FY20 Laurus reported:

- Consolidated Revenue at INR. 12,630 mn, up 12% (Y-o-Y)
- EBITDA INR 2,261 mn, up 34% (Y-o-Y)
- EBITDA margins at 18 %
- PAT at INR. 716 mn, up 118% % (Y-o-Y)
- EPS (Diluted) for the period at INR. 6.7 per share (not annualised), up 116% (Y-o-Y)

Commenting on the results announcement, Dr. Satyanarayana Chava - CEO said, "The quarter's performance demonstrates our ability to execute our long term strategy, with enhanced revenue contribution from Formulations business contributing positively to both top line and margins. The LMIC tender business remains a major part of the FDF strategy along with developed markets of North America and Europe.

We have recorded robust growth across most of our divisions. Other API division showed a strong growth during the quarter on the back of increase in new product additions; with Oncology and Synthesis maintaining their growth momentum. With the impending shift in the treatment regimen in South Africa, we are witnessing a slowdown in sales in ARV API business for FY20.

On the regulatory side, we have received EIRs for our Units 1 & 3. Unit 4 successfully completed its maiden USFDA audit with Zero observations also received EIR. We remain committed to highest level of Compliance & Quality. With our EBITDA Margins at 20% I am very confident that our performance is back on high growth track."

Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said, "Our Total Revenues from Operations came in at INR 7,124 mn. With the improved revenue and better product mix our Gross Margins continue to improve. Our EBITDA margins also showed a significant improvement at 20% for Q2 FY20. The growth in EBITDA was led by higher Operating Leverage and also with softer key Raw Material prices from China. We are encouraged by the robust growth seen in FDF and Other API business resulting in higher utilization of our new Units - 2 & 4. With the focus solely being on growth and improvement in Operating Leverage, we remain confident of improving our return ratios and also achieving FCF positive status from FY21."

Shares of Laurus Labs Ltd was last trading in BSE at Rs.370.6 as compared to the previous close of Rs. 364.05. The total number of shares traded during the day was 2200 in over 203 trades.

The stock hit an intraday high of Rs. 374 and intraday low of 364.85. The net turnover during the day was Rs. 809079.


Source: Equity Bulls

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