Founded in 2005, Laurus Labs is a research-driven pharmaceutical and biotechnology company having a global leadershipposition in select Active Pharmaceutical Ingredients (APIs) including anti-retroviral, oncology drugs (incl High Potent APIs), Cardiovascular, and Gastro therapeutics. They also offer integrated CMO and CDMO services to Global Innovators from Clinical phase drug development to commercial manufacturing.Laurus employs 6500+ people, including around 1050+ scientists at more than 11 facilities approved by global agencies USFDA, WHO-Geneva, Japan-PDMA, UK-MHRA, EMA, TGA etc.[1]
Business Segments1) Generic API (46% in 9M FY25 vs 41% in FY22):[1][2]The company hasone of the largest HiPotent API manufacturing capacities in India and is the world's leading third-party supplier of antiretroviral APIs. Its portfolio includes antiretrovirals, oncology, steroids, hormones, and cardiovascular APIs, serving global generic pharmaceutical companies. Segment revenue declined by 3% YoY in 9M FY25 due to ARV capacity reallocation towards high-yield, long-term business opportunities.[3][1]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Sun Pharma.Inds. | 1782.60 | 37.05 | 427717.60 | 0.90 | 3124.95 | 2.56 | 14478.31 | 8.93 | 20.21 | 54964.01 | 30.12 | 11543.96 | 3117.95 | 5.50 | 12.97 | 0.07 |
| 2. | Divi's Lab. | 6642.50 | 70.94 | 176292.38 | 0.45 | 689.00 | 35.10 | 2715.00 | 16.12 | 20.44 | 10029.00 | 32.37 | 2485.00 | 689.00 | 11.44 | 13.53 | 0.01 |
| 3. | Torrent Pharma. | 4092.20 | 63.93 | 138496.88 | 0.78 | 591.00 | 32.49 | 3302.00 | 14.30 | 27.05 | 12248.00 | 32.60 | 2166.53 | 600.17 | 16.39 | 13.26 | 0.33 |
| 4. | Cipla | 1467.90 | 21.80 | 118607.61 | 0.89 | 1353.37 | 3.73 | 7589.44 | 7.64 | 22.72 | 28349.57 | 25.40 | 5441.14 | 1351.17 | 3.60 | 14.72 | 0.01 |
| 5. | Dr Reddy's Labs | 1242.80 | 17.97 | 103748.51 | 0.64 | 1336.80 | 7.28 | 8828.30 | 9.83 | 22.69 | 34310.00 | 24.64 | 5772.20 | 1347.10 | 2.88 | 12.95 | 0.16 |
| 6. | Lupin | 2214.30 | 23.36 | 101043.20 | 0.54 | 1484.83 | 73.34 | 7047.51 | 24.23 | 21.30 | 24750.69 | 27.25 | 4324.63 | 1477.92 | 5.15 | 12.41 | 0.32 |
| 7. | Mankind Pharma | 2311.80 | 54.55 | 95387.58 | 0.04 | 520.18 | -22.00 | 3697.16 | 20.77 | 15.98 | 13545.67 | 24.12 | 1748.55 | 511.51 | 6.24 | 8.89 | 0.55 |
| 8. | Laurus Labs | 1128.50 | 89.24 | 60928.28 | 0.11 | 215.67 | 408.18 | 1566.60 | 32.22 | 9.47 | 5914.55 | 22.29 | 682.78 | 215.67 | 12.39 | 4.18 | 0.37 |
| – | Median: 150 Co. | 409.67 | 30.81 | 1757.37 | 0.11 | 13.03 | 12.32 | 157.2 | 10.84 | 14.98 | 582.87 | 15.96 | 44.55 | 13.73 | 3.15 | 8.6 | 0.22 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,501 | 1,132 | 1,265 | 1,108 | 1,117 | 1,433 | 1,279 | 1,415 | 1,650 | 1,498 | 1,158 | 1,185 | 1,567 |
Expenses | 1,116 | 962 | 1,059 | 980 | 956 | 1,105 | 1,027 | 1,143 | 1,255 | 1,072 | 978 | 1,003 | 1,177 |
Operating Profit | 385 | 170 | 206 | 128 | 161 | 327 | 252 | 271 | 395 | 426 | 181 | 182 | 390 |
Other Income | 3 | 11 | 7 | 7 | 9 | 22 | 6 | 24 | 72 | 4 | 6 | 12 | 28 |
Profit before tax | 270 | 57 | 77 | 17 | 39 | 211 | 137 | 164 | 330 | 317 | 63 | 58 | 289 |
Tax % | 26% | 25% | 25% | 24% | 26% | 25% | 25% | 26% | 24% | 28% | 26% | 27% | 25% |
Net Profit | 199 | 43 | 57 | 13 | 29 | 158 | 102 | 121 | 252 | 227 | 47 | 42 | 216 |
EPS in Rs | 3.70 | 0.79 | 1.06 | 0.24 | 0.53 | 2.93 | 1.90 | 2.25 | 4.67 | 4.23 | 0.87 | 0.79 | 4.00 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,160 | 1,326 | 1,775 | 1,892 | 2,027 | 2,236 | 2,797 | 4,769 | 4,707 | 5,773 | 4,812 | 5,217 | 5,915 |
Expenses | 951 | 1,121 | 1,402 | 1,478 | 1,618 | 1,884 | 2,226 | 3,258 | 3,421 | 4,292 | 4,062 | 4,273 | 4,596 |
Operating Profit | 209 | 205 | 372 | 414 | 409 | 352 | 571 | 1,511 | 1,286 | 1,482 | 751 | 944 | 1,318 |
Other Income | 9 | 34 | 4 | 32 | 28 | 15 | 5 | 26 | 20 | 16 | 47 | 100 | 129 |
Interest | 64 | 106 | 111 | 97 | 75 | 86 | 88 | 66 | 96 | 146 | 151 | 182 | 174 |
Depreciation | 33 | 61 | 86 | 104 | 121 | 161 | 184 | 197 | 235 | 301 | 345 | 359 | 366 |
Profit before tax | 121 | 72 | 180 | 245 | 241 | 121 | 304 | 1,275 | 975 | 1,051 | 301 | 504 | 907 |
Net Profit | 97 | 74 | 145 | 200 | 173 | 95 | 267 | 956 | 750 | 760 | 224 | 380 | 683 |
EPS in Rs | 12.64 | 9.47 | 18.36 | 3.78 | 3.27 | 1.78 | 5.00 | 17.82 | 13.96 | 14.12 | 4.15 | 7.05 | 12.66 |
Dividend Payout % | 0% | 0% | 2% | 8% | 9% | 17% | 10% | 11% | 14% | 14% | 19% | 17% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 15 | 16 | 16 | 106 | 106 | 106 | 107 | 107 | 107 | 108 | 108 | 108 | 108 |
Reserves | 281 | 645 | 790 | 1,250 | 1,407 | 1,484 | 1,709 | 2,605 | 3,281 | 3,949 | 4,099 | 4,456 | 4,810 |
Borrowings | 605 | 888 | 1,081 | 808 | 947 | 1,009 | 1,051 | 1,411 | 1,653 | 1,714 | 2,110 | 2,380 | 1,821 |
Other Liabilities | 372 | 344 | 342 | 509 | 547 | 718 | 872 | 1,502 | 1,567 | 1,187 | 1,351 | 1,643 | 1,953 |
Total Liabilities | 1,273 | 1,893 | 2,229 | 2,673 | 3,008 | 3,318 | 3,739 | 5,625 | 6,609 | 6,958 | 7,667 | 8,587 | 8,692 |
Fixed Assets | 499 | 801 | 1,014 | 1,193 | 1,448 | 1,599 | 1,694 | 1,818 | 2,186 | 2,884 | 3,036 | 2,888 | 2,946 |
Gross Block | 619.86 | 981.24 | 1,098.62 | 1,379.11 | 1,753.62 | 2,064.50 | 2,341.36 | 2,656.56 | 3,254.00 | 4,221.85 | 4,706.38 | 4,879.45 | – |
Accumulated Depreciation | 121.17 | 180.71 | 84.67 | 185.85 | 305.93 | 465.51 | 647.18 | 838.52 | 1,067.77 | 1,337.69 | 1,670.07 | 1,991.95 | – |
CWIP | 116 | 107 | 70 | 143 | 163 | 107 | 67 | 324 | 755 | 357 | 156 | 336 | 438 |
Investments | 0 | 19 | 26 | 51 | 52 | 58 | 58 | 319 | 362 | 384 | 635 | 740 | 807 |
Other Assets | 658 | 966 | 1,119 | 1,286 | 1,345 | 1,554 | 1,920 | 3,164 | 3,306 | 3,333 | 3,841 | 4,623 | 4,501 |
Total Assets | 1,273 | 1,893 | 2,229 | 2,673 | 3,008 | 3,318 | 3,739 | 5,625 | 6,609 | 6,958 | 7,667 | 8,587 | 8,692 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 121 | -59 | 197 | 321 | 369 | 293 | 345 | 694 | 823 | 882 | 659 | 540 |
Cash from Investing Activity | -312 | -406 | -315 | -282 | -417 | -257 | -217 | -900 | -837 | -735 | -757 | -592 |
Cash from Financing Activity | 203 | 486 | 90 | -47 | 49 | -37 | -127 | 243 | 15 | -185 | 139 | 59 |
Net Cash Flow | 12 | 21 | -27 | -8 | 0 | -0 | 0 | 38 | 2 | -39 | 41 | 8 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 61 | 78 | 91 | 108 | 100 | 112 | 102 | 98 | 98 | 94 | 124 | 142 |
Inventory Days | 165 | 210 | 177 | 184 | 199 | 201 | 233 | 257 | 279 | 211 | 258 | 258 |
Days Payable | 114 | 101 | 91 | 110 | 106 | 144 | 157 | 194 | 140 | 90 | 151 | 138 |
Cash Conversion Cycle | 112 | 187 | 177 | 183 | 193 | 169 | 177 | 161 | 237 | 216 | 231 | 262 |
Working Capital Days | -50 | -0 | 20 | 7 | -7 | 9 | 19 | 50 | 57 | 67 | 56 | 56 |
ROCE % | 25% | 15% | 17% | 17% | 14% | 8% | 14% | 38% | 23% | 22% | 8% | 9% |
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Stock Analysis
Laurus Labs Ltd. is a leading research and development driven pharmaceutical and biotech company.
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