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Laurus Labs Q4 Review - Custom Synthesis Hogs Limelight; Outlook Robust: ICICI Direct

Laurus Labs Q4 Review - Custom Synthesis Hogs Limelight; Outlook Robust: ICICI Direct

<div class="paragraphs"><p>An employee holds a tablet on the production line at a tablet manufacturing unit of the Laurus Labs Ltd. factory in Visakhapatnam, India. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
An employee holds a tablet on the production line at a tablet manufacturing unit of the Laurus Labs Ltd. factory in Visakhapatnam, India. (Photographer: Dhiraj Singh/Bloomberg)

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ICICI Direct Report

Laurus Labs Ltd.'s revenues grew 1% YoY to Rs 1425 crore in Q4 FY22 on the back of 105% YoY growth in contract research and manufacturing services to Rs 360 crore amid progress in existing projects and supplies for order secured with global life science company.

Formulations grew 14% YoY to Rs 491 crore due to market share gain in developed market and stabilisation in antiretrovirals.

Active pharma ingredients revenues declined 32% YoY to Rs 539 crore, mainly due to de-stocking impact in base year for ARVs business.

ARV APIs sales declined 48% YoY to Rs 297 crore while oncology API posted growth of 13% YoY to Rs 70 crore and other API grew 4% YoY to Rs 173 crore.

Laurus bio segment grew 9% YoY to Rs 35 crore due to operationalisation of new capacities.

Click on the attachment to read the full report:

ICICI Direct Laurus Labs Q4FY22 Result Update.pdf

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