LAURUSLABS
Laurus Labs share price & financials
- Price
- ₹1,412.9
- Market cap
- ₹96.2k Cr
- Sector
- Healthcare
- Calls analysed
- 7
Laurus Labs Q1 FY27
What went well
- Laurus Labs delivered its highest quarterly revenue of ₹2,026 crores, marking a 29% year-on-year growth, driven by strong performance in CDMO and Affordable Medicine segments.
- EBITDA margins expanded significantly by 7 percentage points over the previous quarter to 31.8%, with gross margins maintained at a healthy 62.7%.
- The CDMO segment showed significant acceleration, reporting a 69% growth with sales of ₹835 crores, primarily from late-stage clinical and commercial deliveries.
What to watch
- Net debt increased slightly to ₹2,656 crores, with the debt-to-EBITDA ratio rising to 1.28 from 1.25 last quarter, attributed to ongoing capex plans.
- ROCE may take some time to reach the target of 23% due to heavy capex investments this year, despite current improvements.
What Laurus Labs does
Laurus Labs is a research-led pharmaceutical and biotechnology manufacturer operating across two business divisions: Contract Development & Manufacturing (CDMO) for global pharma, biotech, animal-health and crop-science customers, and Affordable Medicines (generic APIs and finished-dosage formulations), historically anchored in antiretroviral (ARV) drugs and now expanding into oncology, cardiovascular, diabetes, gastro and asthma. It earns by manufacturing and supplying active pharmaceutical ingredients (APIs) and finished dosage forms (FDF) to institutional, generic and innovator pharma customers, and by providing contract development and manufacturing services (including small-molecule, biocatalysis and emerging-modality process work) to global pharma and biotech partners. The company is also building capability in fermentation-based biologics, peptides, cell and gene therapy (including an ADC/gene-therapy process-development lab) alongside its core small-molecule chemistry business.
Segments
- CDMO (Contract Development & Manufacturing)
- Affordable Medicines (Generics)
- Manufacturing sites
- 15 (7 approved for developed markets incl. US FDA)
- Installed API/CDMO reactor volume
- ~8,200 KL
- Formulation (oral dosage) capacity
- 12 billion units/annum
- Fermentation capacity
- 240 KL
- API product portfolio (cumulative DMF filings)
- 92
- FDF product portfolio
- 94
Guidance record · Q1 FY27
what the last two calls moved 23 tracked 5 delivered 1 missed 17 open- ARV Sales FY26 delivered said Q4 FY25 Promised: INR 2,400-2,600 crores Q1 FY27: Promise achieved in FY26. No new updates.
- ImmunoACT NexCAR19 Capacity went quiet said Q4 FY25 Promised: ready for operations by September 25 Q1 FY27: No update provided on the missed September 2025 deadline. The topic remains unaddressed.
- 2-Year Capex Plan (FY27-FY28) revised up said Q4 FY26 Promised: around INR 3,000 crores in the next 2 years Q1 FY27: Management indicated the INR 3,000 crore plan for FY27-28 might be exceeded: 'We may do more than that'. This signals a potential upward revision.
All 23 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 22.6%, net profit up 83.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,185 | 1,265 | 1,650 | 1,433 | 1,567 +32% | 1,509 +19% | 1,580 −4% | 1,757 +23% |
| EBITDA | 182 | 206 | 395 | 327 | 390 +114% | 346 +68% | 375 −5% | 499 +53% |
| Net profit | 42 | 57 | 252 | 158 | 216 +414% | 175 +207% | 192 −24% | 290 +84% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +119.7% 1Y
1Y: ₹896.4 on 10 Sept 2025 → ₹1,969. High ₹1,969 (11 Sept 2026), low ₹832.3 (26 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- +2.1%
- 24 Jul
- Q4 FY26
- −0.5%
- 30 Apr
- Q3 FY26
- +1.1%
- 23 Jan
- Q2 FY26
- +1.1%
- 23 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 0.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 23.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹5.9k Cr | ₹4.8k Cr | ₹5.2k Cr | ₹6.1k Cr |
| Operating profit | ₹1.6k Cr | ₹750 Cr | ₹944 Cr | ₹1.4k Cr |
| Operating margin | 26.3% | 15.6% | 18.1% | 23.6% |
| Interest | ₹153 Cr | ₹151 Cr | ₹183 Cr | ₹143 Cr |
| Depreciation | ₹318 Cr | ₹345 Cr | ₹359 Cr | ₹379 Cr |
| Net profit | ₹790 Cr | ₹224 Cr | ₹380 Cr | ₹741 Cr |
| Net margin | 13.3% | 4.7% | 7.3% | 12.2% |
| ROCE | 22.0% | 8.0% | 9.0% | 16.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹107 Cr | ₹107 Cr | ₹108 Cr | ₹108 Cr | ₹108 Cr | ₹108 Cr |
| Reserves | ₹2.6k Cr | ₹3.3k Cr | ₹3.9k Cr | ₹4.1k Cr | ₹4.7k Cr | ₹5.1k Cr |
| Borrowings | ₹1.4k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹2.1k Cr | ₹2.2k Cr | ₹2.1k Cr |
| Other liabilities | ₹1.5k Cr | ₹1.6k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹2.4k Cr | ₹2.2k Cr |
| Total liabilities | ₹5.6k Cr | ₹6.6k Cr | ₹7.0k Cr | ₹7.7k Cr | ₹9.4k Cr | ₹9.5k Cr |
| Fixed assets | ₹1.8k Cr | ₹2.2k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹4.2k Cr | ₹3.0k Cr |
| Capital work in progress | ₹324 Cr | ₹755 Cr | ₹357 Cr | ₹156 Cr | ₹541 Cr | ₹569 Cr |
| Investments | ₹319 Cr | ₹362 Cr | ₹384 Cr | ₹635 Cr | ₹261 Cr | ₹891 Cr |
| Other assets | ₹3.2k Cr | ₹3.3k Cr | ₹3.3k Cr | ₹3.8k Cr | ₹4.4k Cr | ₹5.0k Cr |
| Total assets | ₹5.6k Cr | ₹6.6k Cr | ₹7.0k Cr | ₹7.7k Cr | ₹9.4k Cr | ₹9.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −3.99 pp while FIIs added +2.30 pp. The shareholder count grew 4% to 2,91,653.
- Promoters
- 27.5%
- FIIs
- 28.0%
- DIIs
- 13.7%
- Public
- 30.8%
Since Jun 2025
- Public −3.99 pp
- FIIs +2.30 pp
- DIIs +1.79 pp
How it drifted, 12 quarters
Over this window the public fell from 37.8% to 30.8% — −7.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 27.2%, FIIs 24.0%, DIIs 11.0%, Public 37.8%.Dec '23: Promoters 27.2%, FIIs 25.4%, DIIs 11.1%, Public 36.3%.Mar '24: Promoters 27.2%, FIIs 26.0%, DIIs 11.8%, Public 35.1%.Jun '24: Promoters 27.2%, FIIs 25.7%, DIIs 13.6%, Public 33.6%.Sep '24: Promoters 27.2%, FIIs 26.1%, DIIs 13.1%, Public 33.7%.Dec '24: Promoters 27.6%, FIIs 25.6%, DIIs 12.7%, Public 34.1%.Mar '25: Promoters 27.6%, FIIs 25.5%, DIIs 11.8%, Public 35.1%.Jun '25: Promoters 27.6%, FIIs 25.7%, DIIs 11.9%, Public 34.8%.Sep '25: Promoters 27.6%, FIIs 26.2%, DIIs 11.7%, Public 34.5%.Dec '25: Promoters 27.5%, FIIs 26.5%, DIIs 12.4%, Public 33.6%.Mar '26: Promoters 27.5%, FIIs 25.8%, DIIs 14.0%, Public 32.7%.Jun '26: Promoters 27.5%, FIIs 28.0%, DIIs 13.7%, Public 30.8%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Laurus Labs above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| M/s. NSN Holdings (Represented by its Managing Partner, Dr. Satyanarayana Chava) | 22.98% | unchanged |
| Mirae Asset Large & Midcap Fund Mutual fund | 4.33% | −0.14 pp |
| New World Fund Inc Global fund house | 4.28% | −0.49 pp |
| Anukar Projects Private Limited | 3.24% | unchanged |
| Smallcap World Fund, Inc Global fund house | 2.77% | −0.61 pp |
| Chunduru Venkata Lakshmana Rao | 2.65% | unchanged |
| Barclays Wealth Trustees India Private L | 1.55% | −0.06 pp |
| Akash Bhanshali | 1.32% | unchanged |
| M/s. Leven Holdings (Represented by its Managing Partner, Mr. Venkata Ravi Kumar Vantaram) | 1.15% | unchanged |
| Kotak Funds - India Midcap Fund Global fund house | 1.01% | −0.05 pp |
| Satyanarayana Chava | 0.29% | unchanged |
| Venkata Ravi Kumar Vantaram | 0.19% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in LAURUSLABS
Filings to Aug 2026
0 new, 9 added, 6 trimmed, 0 sold out — net −11.10 L shares (−19.9%).
- Held by funds
- ₹854 Cr
- 16 schemes
- Biggest holder
- SBI Healthcare Opportunities Fund
- ₹230 Cr · 4.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Healthcare Opportunities Fund SBI Mutual Fund | ₹230 Cr | held | Aug '23 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹144 Cr | −8.26 L | Mar '24 |
| Nippon India Nifty Pharma ETF Nippon India Mutual Fund | ₹130 Cr | +0.12 L | Sep '21 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹80 Cr | −0.61 L | Apr '24 |
| Nippon India Nifty 500 Momentum 50 Index Fund Nippon India Mutual Fund | ₹75 Cr | +0.06 L | Dec '25 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹71 Cr | +0.22 L | Mar '26 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹50 Cr | +0.05 L | Mar '26 |
| Nippon India Arbitrage Fund Nippon India Mutual Fund | ₹32 Cr | −3.10 L | Jul '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
9 added, 6 trimmed — net −11.10 L shares (−19.9%)
- Funds are sitting on
- +65%
- vs est. average cost
- Held by funds
- ₹854 Cr
- 16 schemes · ≈ 0.66% of the company
- Biggest holder
- SBI Healthcare Opportunities Fund
- ₹230 Cr · 4.0% of that fund
- Longest holder
- Nippon India Nifty Pharma ETF
- 5y · since Sep '21
Shares held by these funds +101%
Aug '23 55.28 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Laurus Labs
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