Laurus Labs - Multiple Levers To Aid Growth Over Next Three Years: Motilal Oswal
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Motilal Oswal Report
Laurus Labs Ltd. delivered in line performance in Q4 FY21, with highest ever quarterly sales/Ebitda/profit after tax.
Its capacity expansion program for formulation/ active pharmaceutical ingredient remains on track.
The company continues to make steady progress on building capability as well as capacity in the synthesis/biologics segment, which are additional growth levers for the next four to five years.
We raise our FY22E/FY23E earnings per share estimate by 6%, factoring in:
- benefit from debottlenecking exercise in finished dosage form,
- capacity build-up in the non-anti-retroviral segment,
- better prospects in the synthesis segment, and
- scale-up in the enzymes/biologics segment.
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