LAURUSLABS · Healthcare
Laurus Labs Ltd. reported revenue of ₹1,720 cr for January to March 2025, +19.4% on the year and +21.6% on the quarter. It is the highest quarterly revenue in the last 8 quarters on record. Over the last four quarters revenue comes to ₹5,554 cr, +10.2% on the four before.
Operating profit (EBITDA) was ₹421 cr, a margin of 24.5%, +774 bps on the year and +434 bps on the quarter. It is the widest margin of the last 8 quarters (range 14.1% to 24.5%). Operating costs grew +8.3% against revenue growth of +19.4%, so more of each rupee of sales reached operating profit.
Net profit was ₹233 cr, +210.7% on the year and +150.5% on the quarter, with earnings per share of ₹4.33. Profit before other income, one-offs and tax grew 187.5%, so 23 points of the headline growth came from outside the core business. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹359 cr, +121.6% on the four before.
On earnings per share of ₹6.64 over the last four quarters, the stock at ₹2,058.50 trades at 310.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Headline profit grew much faster than core profit. What made up the difference?
Reported profit +210.7% on the year; profit before other income, exceptional items and tax +187.5%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,224 cr | ₹1,195 cr | ₹1,440 cr | ₹1,195 cr | ₹1,224 cr | ₹1,415 cr | ₹1,720 cr | ₹1,570 cr | ₹1,653 cr | ₹1,778 cr | ₹1,812 cr | ₹2,026 cr |
| YoY | — | — | — | +1% | 0% | +18% | +19% | +31% | +35% | +26% | +5% | +29% |
| EBITDA margin | 15.4% | 15.1% | 16.7% | 14.3% | 14.5% | 20.1% | 24.5% | 24.3% | 24.4% | 27.0% | 28.3% | 31.5% |
| Other income, % of PBT | 4% | 6% | 18% | 17% | 22% | 7% | 19% | 4% | 10% | 2% | 3% | 2% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 27% | 30% | 34% | 22% | 31% | 25% | 28% | 28% | 22% | 22% | 25% |
| Net profit | ₹37.0 cr | ₹23.0 cr | ₹75.0 cr | ₹13.0 cr | ₹20.0 cr | ₹93.0 cr | ₹233 cr | ₹162 cr | ₹194 cr | ₹252 cr | ₹282 cr | ₹362 cr |
| YoY | — | — | — | −52% | −46% | +304% | +211% | +1,146% | +870% | +171% | +21% | +123% |
| Core profit YoY | — | — | — | −59% | −65% | +270% | +188% | +1,327% | +1,250% | +163% | +38% | +121% |
| EPS | ₹0.69 | ₹0.43 | ₹1.40 | ₹0.23 | ₹0.37 | ₹1.71 | ₹4.33 | ₹3.02 | ₹3.61 | ₹4.66 | ₹5.17 | ₹6.80 |
| Flags | · | · | · | ✓ | ✓ | 1 | 1 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Laurus Labs Ltd. reported revenue of ₹1,720 cr (+19.4% on the year) and net profit of ₹233 cr (+210.7% on the year) for January to March 2025.
Profit before other income, exceptional items and tax moved +187.5% on the year, against +210.7% for reported profit.
1 check raised a question: Headline profit grew much faster than core profit. What made up the difference?
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