Lasa Supergenerics Limited (LASA)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Lasa Supergenerics' revenue was ₹1.2 Cr (-93.9% year on year), and net profit ₹-3.6 Cr (a smaller loss than a year earlier); the operating margin was -113.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1.2 | -93.9% | from loss |
| Operating profit | ₹-1.4 | loss widened | loss narrowed |
| Net profit | ₹-3.6 | loss narrowed | loss narrowed |
| EPS (₹) | -0.71 | loss narrowed | loss narrowed |
| Operating margin | -113.0% | — | — |
📢 Recent Corporate Announcements
Lasa Supergenerics submitted its Scrutinizer's Report for the 11th Annual General Meeting held on September 30, 2026. All seven ordinary and special resolutions were approved by shareholders with over 99.99% majority of votes cast, representing 2,69,13,971 to 2,69,13,986 votes. Passed items included the appointment of Mr. Janardan Savala as Whole-Time Director for 5 years, adoption of FY26 financials, borrowing powers, managerial remuneration under inadequate profits, and donations to charitable trusts including Dr. Omkar Herlekar Foundation.
- All 7 resolutions passed with over 99.99% voting approval across 2,69,13,986 total valid votes cast
- Shareholders approved appointment of Whole-Time Director Janardan Savala for a 5-year term from August 26, 2026
- Special resolutions approved for borrowing powers, creation of charges, and managerial remuneration during inadequate profits
- Approval granted for donations to related and unrelated trusts, including Dr Omkar Herlekar Foundation
Lasa Supergenerics Limited has announced the closure of its trading window for insiders and designated employees starting October 1, 2026. The window will remain shut until 48 hours after the declaration of the unaudited financial results for the quarter and half-year ended September 30, 2026. This is a standard compliance filing under SEBI (Prohibition of Insider Trading) Regulations, 2015. There is no direct operational or financial impact on the business.
- Trading window closes effective October 01, 2026
- Window remains closed until 48 hours post declaration of Q2 FY27 financial results
- Pertains to financial results for the quarter and half-year ended September 30, 2026
- Applicable to designated employees and their immediate relatives under SEBI PIT Regulations
Lasa Supergenerics has announced its 11th Annual General Meeting scheduled for September 30, 2026. The agenda includes ordinary business such as the re-appointment of CMD Dr. Omkar Herlekar (holding 2,68,79,661 shares) and the appointment of Mr. Janardan Savala as Whole-time Director for a 5-year term. Notably, the Board is seeking special resolution approval under Section 180 to borrow funds to repay a disputed alleged External Borrowing Loan, as well as approvals for charitable donations to related trusts. This comes amid weak operational performance, with Q1 FY27 revenue at just Rs 1.23 Cr and a net loss of Rs 3.58 Cr.
- 11th AGM scheduled for September 30, 2026, via Video Conferencing.
- Share transfer books closed from September 23 to September 29, 2026.
- Re-appointment of CMD Dr. Omkar Pravin Herlekar, who holds 2,68,79,661 shares.
- Appointment of Janardan Savala as Whole-time Director for 5 years starting August 26, 2026.
- Seeking Section 180 borrowing approval to repay a disputed alleged External Borrowing Loan.
Lasa Supergenerics announced the outcome of its board meeting held on September 09, 2026, approving the notice for its 11th Annual General Meeting (AGM) on September 30, 2026. The company is seeking shareholder approval for the appointment of Mr. Janardan Savala as Whole-time Director for a 5-year term and the re-appointment of CMD Dr. Omkar Herlekar. Notably, under special business, the board seeks approval under Section 180 to borrow funds beyond capital and reserves, mainly to repay a disputed external borrowing loan. Additionally, approval is sought for donations to related/unrelated trusts including the Dr. Omkar Herlekar Foundation.
- 11th AGM scheduled for September 30, 2026, via Video Conferencing.
- Share transfer books and register of members closed from September 23, 2026, to September 29, 2026.
- Proposed appointment of Mr. Janardan Savala as Whole-time Director for a 5-year term starting August 26, 2026.
- Seeking shareholder approval to raise loans to repay an 'alleged External Borrowing Loan which is disputed at present'.
Lasa Supergenerics has appointed Mr. Janardan Kamlu Savala as an Additional Director in the capacity of Executive Director and Occupier of all units of the company. The appointment is effective for a 5-year term from August 26, 2026 to August 25, 2031, subject to shareholder approval. Mr. Savala holds zero equity shares in the company and has functional background in operational coordination and banking-related processes.
- Appointed Mr. Janardan Kamlu Savala as Executive Director and Occupier effective August 26, 2026
- Appointed for a tenure of 5 years concluding on August 25, 2031
- Appointment is subject to shareholder approval via General Meeting or Postal Ballot
- Appointee holds 0 shares in the company and no other public company directorships
Lasa Supergenerics Limited announced the resignation of Mr. Ganesh Suresh Potdar (DIN: 11455401) from his role as Additional Director in the capacity of Whole-time Director. The resignation is effective from the closing hours of August 25, 2026. Mr. Potdar cited personal commitments as the reason for his departure and confirmed no other material reasons exist. The company reported a net loss of Rs 3.58 cr on revenue of Rs 1.23 cr in the June 2026 quarter.
- Resignation of Mr. Ganesh Potdar (DIN: 11455401) as Whole-time Director effective closing hours of August 25, 2026
- Reason stated is personal commitments, with no other material reasons disclosed
- Company reported revenue of Rs 1.23 cr and net loss of Rs 3.58 cr in Q1 FY27 (Jun 2026)
Lasa Supergenerics Limited has announced the resignation of Mr. Ganesh Potdar (DIN: 11455401) from his role as Additional Director in the capacity of Whole-time Director, effective from the close of business on August 25, 2026. The departure is attributed to personal commitments, with confirmation that no other material reasons exist. This leadership transition occurs amidst financial pressure, with the company reporting a net loss of ₹3.58 Cr on revenue of ₹1.23 Cr in the June 2026 quarter.
- Mr. Ganesh Potdar (DIN: 11455401) resigned as Whole-time Director effective closing hours of August 25, 2026
- Reason provided: Personal commitments, with no other material reasons confirmed
- Filing submitted to BSE and NSE on August 25, 2026 pursuant to Regulation 30
Lasa Supergenerics submitted its financial results for the quarter ended June 30, 2026, accompanied by severe auditor emphasis on going concern viability and operational disruption. Operations across all units remain completely halted following the uninsured May 18, 2025 fire at the mother plant, which previously led to an exceptional loss of ₹20.57 Cr. The company is unable to quantify tangible asset impairments as worker protests over unpaid wages have blocked site access for technical valuers. In addition, the company is contesting ₹38.11 Cr (₹3,810.93 Lakhs) in contingent GST demand notices, which exceeds its total market capitalization of ₹37 Cr.
- Manufacturing operations remain completely halted across all units following the uninsured fire incident on May 18, 2025 (₹20.57 Cr loss recognized earlier).
- Auditor flagged going concern uncertainties; asset impairment remains unquantified as labor strikes obstruct physical site inspection.
- Contingent GST demand notices total ₹3,810.93 Lakhs (₹38.11 Cr), representing ~152% of TTM revenue and exceeding market cap (₹37 Cr).
- Government grant income recognition discontinued; bank balances and FDs of ₹32.13 Lakhs (₹5.71 Lakhs bank + ₹26.42 Lakhs FD) are in dormant status.
Lasa Supergenerics reported its results for the quarter ended June 30, 2026, accompanied by severe auditor qualifications regarding going concern viability and operational paralysis. Manufacturing operations remain completely suspended following the uninsured May 2025 fire incident (which incurred an earlier ₹20.57 Cr exceptional loss), compounded by ongoing labor protests preventing plant damage assessment. The company also disclosed contingent liabilities of ₹38.11 Cr from disputed GST demand orders, which exceeds its entire market capitalization of ₹37 Cr. Management is currently exploring alternative contract manufacturing and funding options to revive operations.
- Complete operational shutdown continues at mother unit C-4 following the uninsured fire incident on May 18, 2025 (prior loss of ₹2,057.47 lakh).
- Auditor flagged going concern uncertainties; worker protests have prevented technical experts and valuers from inspecting physical damage to plant and machinery.
- Contingent liabilities of ₹3,810.93 lakh (₹38.11 Cr) in disputed GST demand notices, exceeding the company's ₹37 Cr market cap.
- Bank balance confirmations for ₹5.71 lakh and fixed deposits of ₹26.42 lakh could not be obtained as accounts remain dormant.
Lasa Supergenerics has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026, as required by SEBI (Prohibition of Insider Trading) Regulations. The company confirmed that it maintains an internal, non-tamperable database to track Unpublished Price Sensitive Information (UPSI) with an audit trail. During the quarter, 2 specific events were identified and captured in the database. No non-compliances were reported for the period.
- 2 specific events requiring UPSI tracking were captured during the quarter ended June 30, 2026
- The database is maintained internally and is capable of maintaining records for 8 years
- Zero non-compliances were observed or reported for the previous quarter
- The company confirmed the database captures the nature of UPSI along with specific date and time
Lasa Supergenerics Limited has announced the closure of its trading window for designated persons starting July 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, preceding the announcement of quarterly financial results. The window will remain closed until 48 hours after the declaration of the unaudited financial results for the quarter ended June 30, 2026. Investors should note the company's challenging financial position, with a TTM revenue of ₹25 Cr and a net loss of ₹34 Cr.
- Trading window closure effective from July 01, 2026
- Closure applies to designated employees and their immediate relatives
- Window to reopen 48 hours after the declaration of Q1 FY27 results
- Company reported a TTM net loss of ₹34 Cr as of the latest available data
- TTM Operating Profit Margin stands at -29.3%
Omkar Herlekar, the promoter of Lasa Supergenerics Limited, has submitted the annual disclosure under SEBI (SAST) Regulations for the financial year ended March 31, 2026. The filing confirms that the promoter has not created any new encumbrances or pledges on his shareholding, directly or indirectly, during the year. This declaration is a mandatory annual compliance requirement to ensure transparency regarding promoter shareholding and leverage. The disclosure has been formally communicated to both the BSE and NSE as per regulatory norms.
- Promoter Omkar Herlekar declares zero new share encumbrances for the financial year ending March 31, 2026.
- Compliance submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- The disclosure confirms that no indirect or direct pledges were made beyond what was previously disclosed.
- The filing was submitted to the exchanges on April 7, 2026, following the close of the fiscal year.
Lasa Supergenerics Limited has disclosed several regulatory non-compliances in its Annual Secretarial Compliance Report for the year ended March 31, 2026. The company faced multiple fines from BSE and NSE for delays in filing mandatory reports, including shareholding patterns and corporate governance statements. A significant lapse occurred as the company operated without a Company Secretary for nearly four months in 2025. Management attributed the most recent delays to a failure in paying bills to service providers, which delayed the receipt of necessary compliance reports.
- Fined Rs. 49,560 each by BSE and NSE for delayed filing of Q4 FY26 shareholding patterns.
- Operated without a Company Secretary from August 29 to December 15, 2025, incurring fines of Rs. 20,060 per exchange.
- Management cited 'delay in payment of bills by the Company' as the reason for missing multiple Q4 FY26 filing deadlines.
- Additional fines of Rs. 21,240 and Rs. 10,620 per exchange levied for delayed corporate governance and shareholder complaint reports.
- Previous year (FY25) saw heavy fines of Rs. 3,95,300 each for non-compliance regarding board composition.
Lasa Supergenerics reported a significant widening of losses for the fiscal year ended March 31, 2026, with a net loss before tax of ₹34.61 crore compared to ₹19.38 crore in the previous year. The company's balance sheet has contracted sharply, with total assets falling from ₹101.53 crore to ₹66.27 crore. A major fire incident in May 2025 caused extensive damage, leading to a provisional impairment of ₹7 crore, though auditors highlighted that the full financial impact remains unquantified. Additionally, auditors raised concerns over the lack of impairment testing for ₹16.67 crore in intangible assets.
- Net loss before tax widened to ₹34.61 crore in FY26 from ₹19.38 crore in FY25.
- Total assets declined by 34.7% YoY to ₹66.27 crore, with inventories crashing from ₹24.50 crore to ₹1.82 crore.
- Auditors issued a qualified opinion citing unquantified fire damage and lack of impairment assessment for ₹16.67 crore of intangible assets.
- Current borrowings increased significantly to ₹9.75 crore from ₹2.13 crore YoY.
- Exceptional items totaling ₹19.74 crore were recorded, primarily due to asset write-offs and fire-related losses.
Lasa Supergenerics Limited has filed its mandatory disclosure of related party transactions for the year ended March 31, 2026. The total value of transactions during the period was 35.36, which is significantly lower than the Audit Committee's approved limit of 618. Key transactions include director remunerations and a donation of 15.50 to the Dr. Omkar Herlekar Foundation. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations.
- Total value of related party transactions during the reporting period stood at 35.36.
- The Audit Committee had approved a much higher limit of 618 for these transactions.
- A donation of 15.50 was made to the Dr. Omkar Herlekar Foundation, an entity with a common director.
- Remuneration for Managing Director Omkar Herlekar and Whole Time Director Prathmesh Chalke was 3.00 and 4.63 respectively.
- Sitting fees for various independent directors ranged between 0.10 and 1.00.
Financial Performance
Revenue Growth by Segment
Total income from operations grew 36.53% YoY from INR 104.34 Cr in FY24 to INR 142.45 Cr in FY25. Segment-specific growth percentages are not disclosed in the available documents.
Profitability Margins
EBITDA margin improved significantly from 2.17% in FY24 to 7.92% in FY25. However, the company remains loss-making at the net level, with a Net Loss of INR 14.71 Cr in FY25 compared to a loss of INR 21.62 Cr in FY24, representing a 31.96% reduction in losses.
EBITDA Margin
EBITDA margin stood at 7.92% (INR 11.28 Cr) in FY25, up from 2.17% (INR 2.27 Cr) in FY24. This improvement was driven by higher operational income and better cost management despite a 33.29% increase in total expenditure.
Capital Expenditure
The company undertook a debt-free capex by procuring 17-18 new reactors through internal accruals. Property, Plant and Equipment (PPE) decreased from INR 81.16 Cr in Sept 2024 to INR 39.70 Cr in Sept 2025, reflecting consolidation and potential impairments.
Credit Rating & Borrowing
Current borrowings were reduced by 63.74% from INR 20.24 Cr in Sept 2024 to INR 7.34 Cr in Sept 2025. Finance costs for H1 FY26 dropped 93.11% to INR 0.15 Cr from INR 2.11 Cr in H1 FY25, following the company's strategy to reach zero finance costs.
Operational Drivers
Raw Materials
Active Pharmaceutical Ingredients (APIs) and related chemical intermediates. Specific raw material names and their percentage of total cost are not disclosed.
Capacity Expansion
The company recently procured 17-18 new reactors to expand capacity. Manufacturing is being consolidated into a single facility at MIDC Lote Parshuram to enhance operational efficiency and mitigate risks from past disruptions.
Raw Material Costs
Total expenditure (including raw materials) was INR 136.18 Cr in FY25, representing 95.6% of operational revenue. This is a slight improvement from 97.9% in FY24.
Manufacturing Efficiency
The company is focusing on debottlenecking existing units and commissioning new reactors (expected within one quarter of procurement) to improve throughput.
Strategic Growth
Expected Growth Rate
20-25%
Growth Strategy
Growth will be driven by the launch of two new 'blockbuster' products with high market demand, debottlenecking existing manufacturing units, and the operationalization of 17-18 new reactors. The company also expects to benefit from the global shift away from Chinese API sourcing.
Products & Services
Active Pharmaceutical Ingredients (APIs) and proprietary molecules developed through process patents.
Brand Portfolio
Lasa Supergenerics.
New Products/Services
Two blockbuster products are planned for launch; production was expected to commence around August 2025 following reactor commissioning.
Market Expansion
Targeting growth in the API market driven by the slowdown in the Chinese economy and increasing global demand for diversified supply chains.
Strategic Alliances
The company previously paid job work charges to Harishree, which are expected to be eliminated post-merger to improve the bottom line.
External Factors
Industry Trends
The API industry is seeing a positive outlook for FY25 due to a slowdown in the Chinese economy, allowing Indian manufacturers like LASA to capture market share. The industry is shifting toward higher regulatory compliance and consolidated manufacturing.
Competitive Landscape
Competes in the global API market; faces competitive pressures from other generic manufacturers and potential currency fluctuations.
Competitive Moat
The company's moat is built on 100% proprietary ownership of process patents and a transition to a debt-free capital structure, which protects margins from interest rate volatility.
Macro Economic Sensitivity
Highly sensitive to geopolitical stability and climate change, which disrupt trade routes and manufacturing activities.
Consumer Behavior
Increased demand for transparency and regulatory compliance in pharmaceutical supply chains.
Geopolitical Risks
Conflicts in Eastern Europe and the Middle East are cited as primary risks to economic stability and supply chain integrity.
Regulatory & Governance
Industry Regulations
Operations are subject to stringent global regulatory standards for API manufacturing; delays in approvals are a significant risk to commercialization.
Environmental Compliance
Consolidation of units was partly prompted by the need to better manage environmental and compliance risks following past incidents.
Taxation Policy Impact
The company reported a deferred tax expenditure of INR 4.63 Cr in FY25 compared to a deferred tax income of INR 2.62 Cr in FY24.
Legal Contingencies
The company is involved in ongoing litigation with insurance companies, tax authorities, and financial institutions. A major contingency is the lack of insurance coverage due to insurer disputes.
Risk Analysis
Key Uncertainties
The lack of insurance coverage for manufacturing facilities poses a catastrophic risk. Banking disputes also threaten working capital availability.
Geographic Concentration Risk
Manufacturing is heavily concentrated in a single facility at MIDC Lote Parshuram, Maharashtra.
Technology Obsolescence Risk
The company mitigates technology risk by investing in new reactors and proprietary process patents.
Credit & Counterparty Risk
Trade receivables stood at INR 1.59 Cr as of Sept 30, 2025, a 56.9% decrease from INR 3.69 Cr in Sept 2024, suggesting improved collection or lower sales volume.
