Laurus Labs (LAURUSLABS) Q4 24/25 earnings summary

Executive summary

• FY2025 marked significant acceleration and diversification, with robust execution of strategic priorities, expansion in technology platforms, and strong CDMO and generics performance.

• Audited consolidated and standalone financial results for the year ended March 31, 2025, were approved with an unmodified audit opinion from Deloitte Haskins & Sells LLP.

• The company advanced multiple clinical and commercial stage projects, deepened client relationships, and expanded its CDMO and generics businesses.

• Initiatives in cell and gene therapies progressed, with ImmunoAct supporting 300 patients and new manufacturing capacity for NexCar 19 on track for September 2025.

• Significant investments in R&D, capacity expansion, and ESG initiatives, with continued focus on high-value, complex small molecule and biologics projects.

Financial highlights

• FY2025 consolidated revenue reached ₹5,554 crore, up 10% year-over-year; Q4 revenue was ₹1,720 crore, up 19% year-over-year.

• Gross margin improved to 55.4% (+3.7pp year-over-year); Q4 gross margin at 54.5%.

• EBITDA for FY25 was ₹1,115 crore (20.1% margin, +4.3pp); Q4 EBITDA margin at 27.7%.

• Net profit after tax for FY25 was ₹358 crore, up 122% year-over-year; Q4 net profit was ₹233 crore.

• One-time gain of ₹59 crore from land sale in Q4FY25 positively impacted EPS by ₹0.9.

Outlook and guidance

• FY2026 is expected to see improved operating margins from better asset utilization and product mix.

• CDMO and generics businesses are positioned for continued growth, with significant investments in capacity and technology.

• Non-ARV formulation revenue expected to rise from Q3 FY2026 as new approvals and CMO expansions come online.

• ARV revenues projected to remain stable at ₹2,400–2,600 crore.

• CapEx for FY2026 estimated at around ₹1,000 crore, focused on fermentation, formulation CMO, and API/CDMO expansions.