Laurus Labs Limited (LAURUSLABS)
₹2,060.10 +2.06% last close, 16 Oct
Q2 FY27 results
📅 Next results: 29 Oct 2026 (board meeting)Laurus Labs Limited's board meets on 29 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Laurus Labs' revenue was ₹2,026 Cr (+29.1% year on year, +11.8% on the previous quarter), and net profit ₹362 Cr (+123.9% year on year); the operating margin was 31.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹2,026 | +29.1% | +11.8% |
| Operating profit | ₹638 | +67.0% | +24.7% |
| Net profit | ₹362 | +123.9% | +28.4% |
| EPS (₹) | 6.81 | +125.5% | +31.7% |
| Operating margin | 31.5% | — | — |
LAURUSLABS delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.55% of the LAURUSLABS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.85%. That is close to its usual level. In LAURUSLABS futures, open interest fell 2.92% while the futures price rose 1.67%: short covering (shorts closing out).
Delivery in the last 5 sessions: 57.4% · 41.0% · 51.0% · 51.2% · 50.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Laurus Labs has infused ₹107.8 crore (INR 1,078,000,000) into its joint venture, KRKA Pharma Private Limited, via a rights issue. The company acquired 107,800,000 equity shares of KRKA at a face value of ₹10 each. Following this investment, Laurus Labs' total holding in the JV reaches 262,150,000 equity shares, while its ownership stake remains unchanged at 49%. The capital deployment represents approximately 1.48% of Laurus Labs' TTM revenue of ₹7,270 crore and supports its ongoing market expansion strategy.
- Invested ₹107.8 crore (INR 1,078,000,000) into KRKA Pharma Private Limited via rights issue
- Acquired 107,800,000 equity shares at face value of ₹10 per share
- Total shareholding increases to 262,150,000 equity shares of ₹10 each
- Shareholding percentage in the JV remains unchanged at 49%
Laurus Labs has subscribed to a rights issue of its associate company, Kurnool Renewables Private Limited (KRPL), investing ₹12.10 crore. The company acquired 1,20,96,050 equity shares at a face value of ₹10 per share. Following this transaction, Laurus Labs' total shareholding stands at 2,11,68,000 shares, keeping its equity ownership constant at 26%. The capital deployment is immaterial relative to Laurus Labs' TTM revenue of ₹7,270 crore and market cap of ₹1,10,328 crore.
- Invested ₹12,09,60,500 via rights issue in associate firm Kurnool Renewables Private Limited
- Acquired 1,20,96,050 equity shares at face value of ₹10 each
- Total shareholding increases to 2,11,68,000 equity shares of ₹10 each
- Equity stake remains unchanged at 26%
- Follows initial intimation regarding the acquisition dated March 28, 2025
Laurus Labs released its September 2026 investor presentation detailing strong Q1 FY27 financial performance and future expansion plans. For Q1 FY27, revenue climbed 29% YoY to ₹2,026 Cr with net profit surging 126% YoY to ₹368 Cr, driven by high-margin CDMO ramp-ups. The company proposed >₹3,000 Cr in cumulative capex over FY27-FY28 (representing ~41% of TTM revenue of ₹7,270 Cr), following ₹4,300 Cr invested across FY22-FY26. Management is targeting sustained EBITDA margins above 30% from FY27 onward, backed by advanced therapies including ADCs, precision fermentation, and gene therapies.
- Q1 FY27 net profit jumped 126% YoY to ₹368 Cr on revenue of ₹2,026 Cr (up 29% YoY)
- Q1 FY27 EBITDA margin reached 31.8% (up 700 bps YoY), with guidance of >30% from FY27+
- Proposed >₹3,000 Cr cumulative capex over FY27 and FY28, with >85% directed toward growth projects
- Q1 FY27 Capex was ₹394 Cr, representing 19% of quarterly revenue
- R&D spend stood at ₹118 Cr (5.8% of revenue), including ₹35 Cr capex for Advanced Biologics
Laurus Labs Limited has informed the exchanges that it will participate in the Goldman Sachs Global Healthcare CDMO Day. The conference will be held in person in Singapore from September 22 to September 24, 2026. Interactions will consist of one-on-one and group meetings with institutional investors and analysts. The company explicitly confirmed that no Unpublished Price Sensitive Information (UPSI) will be discussed.
- Participation scheduled for September 22-24, 2026
- Event: Goldman Sachs Global Healthcare CDMO Day in Singapore
- Format includes both one-on-one and group in-person meetings
- No Unpublished Price Sensitive Information (UPSI) to be shared
Laurus Labs Limited has informed the exchanges regarding its scheduled participation in an institutional investor conference. The company will attend an in-person group meeting organised by ICICI Securities in Hyderabad on September 17, 2026. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during the interaction. This is a standard procedural intimation under SEBI LODR Regulation 30.
- Participation scheduled for September 17, 2026
- In-person group investor meeting organised by ICICI Securities
- Location of interaction: Hyderabad
- No unpublished price sensitive information (UPSI) will be disclosed
Laurus Labs has scheduled its participation in the Antique Pharma Investor Day conference on September 07, 2026, in Hyderabad. The interaction will be conducted as an in-person group meeting with analysts and institutional investors. The company stated that no Unpublished Price Sensitive Information (UPSI) will be shared during the event.
- Participation scheduled for Antique Pharma Investor Day on September 07, 2026
- Meeting format is an in-person group interaction in Hyderabad
- Company confirmed no Unpublished Price Sensitive Information (UPSI) will be shared
Laurus Labs has announced its participation in the Motilal Oswal 22nd Annual Global Investor Conference scheduled for August 19, 2026, in Mumbai. The interaction will involve one-on-one and group meetings with institutional investors. This comes at a time when the company has a market capitalization of ₹99,975 Cr and reported a TTM revenue of ₹6,813 Cr. No unpublished price-sensitive information is expected to be disclosed during these meetings.
- In-person meeting scheduled for August 19, 2026, in Mumbai.
- Participation in the Motilal Oswal 22nd Annual Global Investor Conference.
- Company maintains a TTM Operating Profit Margin of 26.1%.
- Market capitalization stands at approximately ₹99,975 Cr as of the announcement period.
NSE Sustainability Ratings and Analytics Limited has independently assigned Laurus Labs an Environmental, Social, and Governance (ESG) score of 63 out of 100 for FY 2026. The rating was conducted using publicly available data without a formal engagement from the company. While this score provides a benchmark for the company's sustainability practices, it has no direct impact on current financial performance or cash flows. Such ratings are increasingly relevant for institutional investors and global CDMO clients who prioritize ESG compliance in their supply chains.
- Assigned an ESG Score of 63 out of 100 for the financial year 2026
- Rating conducted independently by NSE Sustainability Ratings and Analytics Limited
- Assessment based entirely on data available in the public domain
- Company did not formally engage the rating agency for this specific report
Laurus Labs reported a strong Q1 FY27 with revenue growing 29% YoY to ₹2,026 cr, primarily driven by a 69% surge in the CDMO segment. EBITDA margins expanded significantly to 31.8%, up 700 bps from the previous quarter, reflecting improved capacity utilization and a favorable product mix. Management has aggressively increased its FY27 capex guidance to ₹2,000 cr (approx. 29% of TTM revenue) to meet rising customer demand. Strategic advancements include a new ADC molecule agreement and the final stages of acquiring a 500-acre land parcel for future expansion.
- CDMO segment revenue grew 69% YoY to ₹835 cr, with 55% of this coming from commercial supplies.
- EBITDA margins reached 31.8%, representing a 7 percentage point expansion over the previous quarter.
- FY27 capex guidance was revised upward to ₹2,000 cr, nearly doubling from initial estimates of ₹1,000 cr.
- R&D spending increased 70% YoY to 5.8% of revenue, focusing on complex technologies like ADCs and gene therapy.
- Laurus Bio Phase 1 fermentation capacity of 400+ kiloliters is expected to be operational by the end of 2026.
Laurus Labs has allotted 62,635 equity shares to employees following the exercise of stock options under its 2016, 2018, and 2021 ESOP schemes. The company realized approximately Rs 2.90 crore from these exercises, with exercise prices ranging from Rs 301.50 to Rs 463.50 per share. This allotment results in a negligible equity dilution of approximately 0.01% of the total outstanding shares. The total paid-up capital now stands at Rs 108.06 crore.
- Allotment of 62,635 equity shares of face value Rs 2 each to eligible employees.
- Total money realized from the exercise of options amounts to Rs 2,89,60,852.5.
- Post-allotment total paid-up capital increased to Rs 1,08,06,24,436 divided into 54,03,12,218 shares.
- Exercise prices for the grants were Rs 301.50 (2016 scheme) and Rs 463.50 (2018 and 2021 schemes).
- The allotment involved 839 total allottees across three different grant schemes.
Laurus Labs has received directions from the NCLT Amravati regarding its proposed composite scheme of arrangement involving two wholly-owned subsidiaries, Laurus Synthesis (LSPL) and Sriam Labs. The scheme involves demerging LSPL's Unit-1 into Sriam Labs and merging the remaining LSPL business directly into the parent company, Laurus Labs. The NCLT has directed the company to serve notices to regulators and stakeholders following its July 24, 2026 order. The next hearing is scheduled for September 10, 2026, to further consider the scheme.
- NCLT Amravati pronounced an order on July 24, 2026, regarding the composite scheme of arrangement
- Next hearing date for the petition is scheduled for September 10, 2026
- Restructuring involves two 100% owned subsidiaries: Laurus Synthesis Private Limited and Sriam Labs Private Limited
- The process involves the demerger of Unit-1 of LSPL and the amalgamation of the rest of LSPL into the parent company
- The scheme has been in progress since the initial disclosure on August 21, 2025
Laurus Labs has published the audio recording of its Q1 FY27 earnings conference call held on July 24, 2026. This is a standard regulatory disclosure following the announcement of quarterly financial results. The recording provides management's detailed commentary on the company's performance, including progress on the CDMO segment and the KRKA Joint Venture. Investors can access the link provided in the filing to hear the full discussion.
- Q1 FY27 results conference call was hosted on July 24, 2026
- Filing made in compliance with SEBI Regulations 30 and 46
- Company reported TTM revenue of Rs 6,813 Cr as per latest available context
- Management maintains a target growth rate of 20% through CDMO and JV expansions
Laurus Labs delivered a robust Q1 FY27 with revenue growing 29% YoY to ₹2,026 Cr, driven primarily by a 67% surge in the high-margin CDMO segment. Net profit jumped 126% to ₹368 Cr, while EBITDA margins expanded significantly by 700 bps to 31.8% due to better capacity utilization and segment mix. The company continues its aggressive expansion, investing 19% of sales into CAPEX and in-licensing two Antibody Drug Conjugate (ADC) assets for the Indian market.
- Revenue reached ₹2,026 Cr, a 29% YoY increase from ₹1,570 Cr in Q1 FY26
- CDMO segment revenue grew 67% YoY to ₹870 Cr, driven by late-stage clinical and commercial API supplies
- EBITDA margins expanded to 31.8% from 24.8% in the previous year's quarter
- Net Profit surged 126% YoY to ₹368 Cr compared to ₹163 Cr in Q1 FY26
- R&D investment increased 74% YoY to ₹118 Cr, representing 5.8% of total revenue
Laurus Labs reported a strong Q1 FY27 with revenue reaching ₹2,026 Cr, a 29% YoY increase driven by a 67% surge in the high-margin CDMO segment. EBITDA margins expanded significantly by 700 bps to 31.8%, resulting in a 126% jump in Net Profit to ₹368 Cr. The company continues its aggressive expansion with Q1 capex of ₹394 Cr (19% of revenue) as part of a larger ₹4,700+ Cr multi-year investment plan. Operational highlights include the operationalization of a second CAR-T cell therapy facility and progress in Antibody Drug Conjugates (ADC).
- Revenue grew 29% YoY to ₹2,026 Cr, driven by robust CDMO growth and steady affordable medicine sales.
- CDMO segment revenue increased 67% YoY to ₹870 Cr, now contributing 43% of total revenue compared to 33% a year ago.
- EBITDA margins improved to 31.8% from 24.8% YoY, aided by a favorable product mix and operational leverage.
- Quarterly Capex stood at ₹394 Cr, representing 19% of the quarter's revenue, focused on API and Advanced Biologics.
- Net Profit surged 126% YoY to ₹368 Cr, with EPS rising to ₹6.8 from ₹3.0 in Q1 FY26.
Laurus Labs has announced the retirement of Dr. Rajesh Koshy Chandy as an Independent Director, effective from the close of business hours on July 26, 2026. This change follows the completion of his second five-year term, which began on July 27, 2021. The board took note of this scheduled retirement during their meeting on July 24, 2026. This is a routine administrative update to the company's board composition.
- Retirement of Dr. Rajesh Koshy Chandy effective July 26, 2026
- Completion of a 5-year second term spanning July 27, 2021, to July 26, 2026
- Board meeting held on July 24, 2026, lasted 42 minutes (02:00 p.m. to 02:42 p.m. IST)
Financial Performance
Revenue Growth by Segment
Consolidated Gross Income grew 10.17% to INR 5,554 Cr in FY25 from INR 5,041 Cr in FY24. The CDMO segment is expected to scale up significantly in FY26 to drive future growth, following a 16.5% decline in FY24 total operating income (INR 5,044 Cr vs INR 6,041 Cr in FY23) due to lower contract manufacturing contributions.
Geographic Revenue Split
Europe is a primary market contributing 36% of total revenue and 62% of export revenue. The US market contributes less than 10% of total revenue, which limits the company's exposure to USFDA regulatory volatility.
Profitability Margins
Gross margins have expanded from historical levels of 50% to approximately 60% in Q2 FY26 due to a shift toward commercial-stage CDMO programs and leadership in ARV/Oncology. Net Profit After Tax (PAT) surged 122% to INR 358 Cr in FY25 from INR 161 Cr in FY24.
EBITDA Margin
EBITDA margin stood at 20.1% in FY25 (INR 1,115 Cr), a significant improvement from 15.8% in FY24. In Q2 FY26, EBITDA margins expanded by 11 percentage points YoY to reach 26% driven by better asset utilization and product mix.
Capital Expenditure
Laurus Labs has planned a capital expenditure of approximately INR 1,500 Cr over the next two years (FY26-FY27) to support specialized modalities like gene therapy, ADC, and fermentation.
Credit Rating & Borrowing
The company holds a 'CARE AA; Stable' rating for long-term facilities (reaffirmed in July 2025) and 'CARE A1+' for short-term facilities. Interest coverage improved to 4.90x in FY25 from 4.28x in FY24.
Operational Drivers
Raw Materials
Key raw materials include chemical intermediates for Active Pharmaceutical Ingredients (APIs) in Anti-Retroviral (ARV), Oncology, Cardiovascular, and Gastro therapeutics. Specific inputs include bio-enzyme catalysts and fermentation-based ingredients.
Import Sources
Not explicitly disclosed in available documents, though the company utilizes natural hedging by netting off imports and exports to mitigate currency risk.
Capacity Expansion
The company operates 15 facilities (including 12 manufacturing sites: 8 in Vizag, 2 in Hyderabad, 2 in Bangalore). New capacity for Laurus Bio is expected to come online by the end of 2026 to support revenue ramp-up in FY27.
Raw Material Costs
Raw material costs are managed through a focus on backward integration and green chemistry platforms like continuous flow chemistry to improve yield and reduce waste.
Manufacturing Efficiency
Efficiency is driven by high asset utilization and a shift from clinical-phase drug development to commercial manufacturing in the CDMO segment.
Strategic Growth
Expected Growth Rate
20%
Growth Strategy
Growth will be achieved through the scale-up of the CDMO segment in FY26, a Joint Venture with KRKA Pharma for new markets, and investments in an ADC (Antibody Drug Conjugate) technology platform. The company is also expanding into specialized modalities like gene therapy and fermentation.
Products & Services
Active Pharmaceutical Ingredients (APIs) for ARV, Oncology, and Cardiovascular treatments; Finished Dosage Forms (FDF); CDMO services for global innovators; and Bio-ingredients.
Brand Portfolio
Laurus Labs, Laurus Bio, Laurus Synthesis, Laurus Generics.
New Products/Services
New ADC integrated services and gene therapy manufacturing are expected to contribute to revenue as capacities come online by end of 2026.
Market Expansion
Expansion is targeted through the KRKA JV and increasing the pipeline of commercial CDMO programs.
Market Share & Ranking
Laurus holds a global leadership position in select APIs, including anti-retrovirals and oncology drugs.
Strategic Alliances
Joint Venture with KRKA Pharma Private Limited; 26% stake in Kurnool Renewables for green energy; investment in an ADC technology platform company.
External Factors
Industry Trends
The CDMO industry is shifting toward early-stage involvement requiring large upfront CAPEX. Laurus is positioning itself by investing in specialized modalities like ADCs and cell/gene therapy to capture this 15-20% industry growth trend.
Competitive Landscape
Competes with other large CDMO and API players like Divi's Labs. Competition is based on manufacturing scale, regulatory track record, and technical capabilities in complex chemistry.
Competitive Moat
Moat is built on cost leadership in ARV APIs, deep backward integration, and a large R&D talent pool (2,600+ scientists). This is sustainable due to high entry barriers in complex API manufacturing.
Macro Economic Sensitivity
Sensitive to global healthcare spending and pharmaceutical outsourcing trends, particularly in the CDMO sector.
Consumer Behavior
Demand for ARV drugs remains stable; however, a shift toward preventive drugs (PrEP) is monitored, though not expected to have a material impact in the near term.
Geopolitical Risks
Exposure to diverse geographies requires compliance with evolving international regulations; non-compliance can lead to product recalls or reputational damage.
Regulatory & Governance
Industry Regulations
Operations are governed by USFDA, WHO Geneva, ANVISA Brazil, and EMA standards. 7 of 12 sites are USFDA approved. Compliance is critical as non-compliance can lead to import alerts.
Environmental Compliance
Invested in green chemistry and renewable energy (26% stake in Kurnool Renewables). ESG scores improved significantly (S&P score from 59 to 73).
Taxation Policy Impact
The consolidated tax rate is approximately 28%. The parent company has converted to a new tax regime, while subsidiaries operate under different rates.
Legal Contingencies
The company maintains internal financial controls and conducts regular audits to ensure compliance with the Companies Act 2013 and other statutory requirements. Specific pending litigation values are not disclosed.
Risk Analysis
Key Uncertainties
Execution risk of large-scale CAPEX (INR 1,500 Cr) and the timing of CDMO order inflows are key uncertainties that could impact profitability by 5-10% if delayed.
Geographic Concentration Risk
High concentration in Europe (36% of revenue) makes the company sensitive to European regulatory shifts and economic stability.
Third Party Dependencies
Dependency on innovator companies for CDMO contracts; delays in their clinical trials or commercial launches directly impact Laurus's revenue.
Technology Obsolescence Risk
Risk of new drug classes replacing current APIs. Mitigated by investing in new technologies like ADCs and gene therapy.
Credit & Counterparty Risk
Liquidity is 'Strong' with gross cash accruals of INR 750 Cr in FY25 against repayment obligations of ~INR 320 Cr, indicating high receivables quality.
