Laurus Labs Ltd posts consolidated PAT of Rs. 272.85 crores in Q3 FY2020-21

Laurus Labs Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1295.35 crores during the period ended December 31, 2020 as compared to Rs.1143.96 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.272.85 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.242.27 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.5.07 for the period ended December 31, 2020 as compared to Rs.4.50 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 1295.35 crs	₹ 1143.96 crs	13.23%
Net Profit	₹ 272.85 crs	₹ 242.27 crs	12.62%
EPS	₹ 5.07	₹ 4.50	12.67%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.1295.35 crores during the period ended December 31, 2020 as compared to Rs.731.51 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.272.85 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.73.47 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.5.07 for the period ended December 31, 2020 as compared to Rs.1.38 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 1295.35 crs	₹ 731.51 crs	77.08%
Net Profit	₹ 272.85 crs	₹ 73.47 crs	271.38%
EPS	₹ 5.07	₹ 1.38	267.39%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.3420.72 crores during the 9 months period ended December 31, 2020 as compared to Rs.2000.36 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.686.90 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.145.12 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.12.78 for the 9 months period ended December 31, 2020 as compared to Rs.2.72 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 3420.72 crs	₹ 2000.36 crs	71.01%
Net Profit	₹ 686.90 crs	₹ 145.12 crs	373.33%
EPS	₹ 12.78	₹2.72	369.85%

Commenting on the results announcement, Dr. Satyanarayana Chava - Founder & CEO said: "Our Consolidated revenue for the quarter increased by 76% driven by growth in all the divisions. we have been able to sustain our EBITDA margins, and our profitability has also improved to Rs. 273 crs for the quarter.

The generic API division recorded a healthy growth of over 100% for the quarter, the growth was led by higher growth in ARV API business in turn led by higher volume of 1st line products. The Formulations business showcased a growth of over 120% for the 9M period, led by higher LMIC business. Custom Synthesis continues to maintain its growth trajectory with a healthy pipeline and with good visibility.

I am also very happy to announce that we have concluded our acquisition of Richcore Lifesciences on 20th Jan 2021. Richcore will be renamed to Laurus Bio shortly. With our vision of creating long term sustainable growth we continue to undertake major Capex program across all divisions. I am very optimistic about growth for the coming years."

Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said: "Our Total Revenue from Operations came in at ₹ 1,288 crs, showcasing strong growth of 76% for the quarter and ₹ 3,402 crs for 9M FY21 growing by 71%. Our EBITDA Margins remained steady at 34% owing to better operating leverage and product mix. Our PAT stood at ₹ 273 crs for the quarter, showcasing a robust growth of 274%.

Our ROCE on an annualised basis has improved to 40%. We continue to have healthy cash position with ~ 600 crs of headroom available in the form of unutilized bank limits. We continue to undertake larger CAPEX for all the divisions and initiate new manufacturing units on greenfield basis.." The board of directors please to announce second interim dividend of Rs. 0.40/- per share.

Shares of Laurus Labs Ltd was last trading in BSE at Rs.366.2 as compared to the previous close of Rs. 379.35. The total number of shares traded during the day was 124124 in over 3390 trades.

The stock hit an intraday high of Rs. 381.75 and intraday low of 364.3. The net turnover during the day was Rs. 46030486.

Source : Equity Bulls

Keywords