Laurus Labs Q1 FY23 Results: PAT grew 4.28% to ₹251 Cr, Income up 8.03% QOQ

EBITDA ₹ 454 crs, increased by 14 % (Y-o-Y) EBITDA margins at 29.5 % PAT at ₹ 251 crs, increased by 4 % (Y-o-Y) PAT margins at 16.3 % EPS (Diluted) for the period at ₹ 4.7 per share (not annualised)

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Laurus Labs is a leading research and development (‘R&D’) driven pharmaceutical company in India with a leadership position in generic active pharmaceutical ingredients (‘APIs’) for select high-growth therapeutic areas of anti-retrovirals (‘ARVs’) Hepatitis C and Oncology.

Its focus areas include active pharmaceutical ingredients (APIs), generic formulations, custom synthesis and biotechnology.

Laurus Labs Ltd has posted its Q1 FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

The company has reported, a consolidated Total Income of ₹1,540.69 crore in the quarter ended on June 30, 2022 as against ₹1,426.12 crore in the last quarter ended on Mar 31, 2022, increased by 8.03%.

The company has posted a consolidated Net Profit of ₹251.28 crore in the quarter ended on March 31, 2022 as against ₹230.30 crore in the previous quarter ended on June 30, 2022. The PAT surges up by 4.28%.

The status of the EPS of the company stood at ₹4.66 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹4.28, up by 8.88%.

₹*June 30, 2022 (Q1FY23)Mar 31, 2022 (Q4FY22)
Total Income1,540.691,426.12
Total Expenses1184.811124.41
PBT /(Loss)355.88301.71
Total Tax /(credit)103.3469.81
PAT /(Loss) [to the owners]251.28230.30
*figures are in Crores

(II) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹1,540.69 crore in the financial year ended on June 30, 2022 as against ₹1,284.35 crore for the same quarter ended on last year June 30, 2021 that increased by 19.96%.

The company has posted a consolidated Net Profit of ₹251.28 crore in the financial year ended on June 30, 2022 as against ₹241.39 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 4.10%.

The status of the EPS of the company stood at ₹4.66 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹4.48, up by 4.02%.

₹*June 30, 2022 (Q1FY23)June 30, 2021 (Q1FY22)
Total Income1,540.691,284.35
Total Expenses1,184.81968.30
PBT /(Loss)355.88316.05
Total Tax /(credit)103.3474.44
PAT /(Loss) [to the owners]251.28241.39
*figures are in Crores

 Laurus Labs Q4FY22 and Year Ended result : Profit surges down by.. Check the details here.

Laurus Labs unit 3

(III) Key Highlights about the Performance :

  • EBITDA ₹ 454 crs, increased by 14 % (Y-o-Y)
  • EBITDA margins at 29.5 %
  • PAT at ₹ 251 crs, increased by 4 % (Y-o-Y)
  • PAT margins at 16.3 %
  • EPS (Diluted) for the period at ₹ 4.7 per share (not annualised)

Business Highlights:

Laurus Lab’s Business Performance – Q1 FY23 results

Generic FDF
 FDF business generated revenue of ₹ 349 Cr during Q1, decreased by 33% YoY
 Growth was impacted by lower ARV business while Developed market sales stable with higher generic volumes offset by pricing pressure
 During Q1, 1 product dossiers were filed in Developed markets and a total of 3 approvals were received (including Tentative)
 Cumulatively filed 32 ANDAs in US with 15 PARA IV filings and 11 FTF opportunities
 Brownfield capacity expansion at Unit 2 commissioned during the quarter

Generic API
 API business reported revenue of ₹ 583 Cr during Q1, increased by 6% YoY
 Other APIs sustained strong growth +79% YoY
 Oncology revenues grew at modest pace +5% YoY
 ARV business continue to witness healthy sequential improvement supported by channel stock easing and better volumes
 Filed 325 patents out of that 192 patents granted as of June’22
 Filed 74 DMFs till date Synthesis
 Delivered accelerated growth of 196% during Q1 to ₹ 577 crs
 The growth was supported by solid demand from new and existing clients
 Actively working on over 50 projects and On-going supplies for four commercial projects
 Expansion in CDMO capability on track to include new opportunities and extended service
 Greenfield investment to set up a dedicated R&D center and manufacturing units is progressing as per our expectations

Bio Division
 Laurus Bio segment was largely stable and clocked Q1 sales of ₹30 cr
 Fully operational benefits of new capacities to reflect through FY23
 Continue to work on Improving Products offering and Improving Go-to-market
 Evaluating few land parcel to Create close to 1 million litres fermentation capacity

Shares of Laurus Labs was last trading in BSE at ₹484.40 as compared to the previous close of ₹ 497.10. The total number of shares traded during the day was 90532 in over 3216 trades.

The stocks of Laurus Labs Ltd last hit in BSE,

  • Intraday High of ₹ 499.45
  • Intraday low of ₹ 482.75