Laurus Labs Limited has reported consolidated Q3 FY21 revenue at Rs. 1,288 crore, up 76 % Y-o-Y and PAT at Rs. 273 crore, up 274% Y-o-Y.

Commenting on the results announcement, Dr. Satyanarayana Chava, Founder & CEO, Laurus Labs Limited 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 profitability has also improved to Rs. 273 crore 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 programs across all divisions. I am very optimistic about growth for the coming years,” added Chava.

Commenting on the results announcement, V. V. Ravi Kumar, ED & Chief Financial Officer said, “Our total revenue from operations came in at Rs. 1,288 crore, showcasing strong growth of 76% for the quarter and Rs. 3,402 crore 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 Rs. 273 crore for the quarter, showcasing a robust growth of 274%. Our ROCE on an annualised basis has improved to 40%. We continue to have a healthy cash position with around Rs. 600 crore 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 a greenfield basis.”