Laurus Labs (LAURUSLABS) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue reached ₹2,206.37 crore, up 33% YoY; H1 revenue was ₹4,232.68 crore, up 31%, with strong CDMO growth and Affordable Medicines momentum.

• H1 EBITDA rose 72% to ₹1,406 crore as gross and EBITDA margins expanded to 62.9% and 33.2%; Q2 EBITDA was ₹762 crore at a 34.5% margin.

Financial highlights

• Q2 consolidated profit after tax including associate/JV results was ₹436.19 crore, versus ₹194.49 crore YoY; H1 was ₹798.26 crore, versus ₹— [not provided].

• Q2 net profit was ₹441 crore, up 126% YoY; H1 net profit was ₹809 crore, up 126% YoY.

• H1 gross margin was 62.9% versus 59.6%; Q2 gross margin was 63.0% versus 59.9% YoY.

• Q2 EBITDA was ₹762 crore, up 78% YoY; H1 EBITDA was ₹1,406 crore versus ₹818 crore.

• Q2 consolidated basic EPS was ₹8.17; H1 consolidated basic EPS was ₹8.16.

Outlook and guidance

• Guidance remains gross margin above 60% and EBITDA margin above 30%; no further revenue or margin forecasts were provided.

• Planned FY27–FY28 investment exceeds ₹3,000 crore, with over 85% directed to growth projects; investment near ₹1,500 crore annually after FY28 remains subject to opportunities.

• LB-4 fermentation unit capacity exceeds 400 kL and is scheduled for commissioning in Q3 FY27; commercial supplies may begin in Q1 FY28 after trials in Q4 FY27.

• KRKA Phase I production blocks are targeted to open in mid-2027; validations are scheduled to start then, with meaningful revenues expected in 2028–2029.