Dolat Capital: Laurus Labs - Highlighting Some ‘Grey Areas’
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Dolat Capital Report
Laurus Labs Ltd. is rapidly transitioning from a one segment active pharmaceutical ingredient company into a diversified pharma company at a frenetic pace.
While the profit and loss ramp up is admirable, we highlight some ‘grey’ areas in balance sheet numbers and management commentary on business and strategy.
- Highly unusual cash strategy, which requires better explanation from the management.
- In most of the post initial public offering history, the company appears to have gone through tight liquidity situation. The domestic payable and receivable days have been volatile and high while the international dealings have been managed well.
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