Laurus Labs (LAURUSLABS) Q4 25/26 earnings summary

Executive summary

• FY 2026 saw accelerated performance with record revenues of ₹6,813 crore, up 23% year-over-year, driven by strong demand in technology-led commercial offerings, CDMO, and Affordable Medicines divisions, and a strategic portfolio transformation.

• EBITDA rose 64% to ₹1,826 crore, with margins improving to 26.8% due to favorable product mix and operational leverage.

• Net profit surged 148% to ₹890.14 crore, and ROCE improved to 17.7% from 9.7% last year.

• Continued global leadership in ARV therapy, robust CDMO execution, and significant investments in advanced biologics and manufacturing capacity.

• Audited consolidated and standalone financial results for FY26 were approved with an unmodified audit opinion from Deloitte Haskins & Sells LLP.

Financial highlights

• FY 2026 consolidated revenue reached ₹6,813 crore, up 23% year-over-year; Q4 revenue was ₹1,812 crore, up 5%.

• Gross margin for the year was 60.4%, with Q4 at 61.4%.

• EBITDA for the year was ₹1,826 crore (26.8% margin), with Q4 EBITDA at ₹523 crore (28.9% margin).

• Net profit for FY26 was ₹890.14 crore, up 148% year-over-year; Q4 net profit was ₹282.09 crore.

• Operating cash flow grew 170% to ₹1,624 crore; net debt/EBITDA improved to 1.25 from 2.3 last year.

Outlook and guidance

• Confident in maintaining or improving current EBITDA margins in FY 2027.

• CDMO and affordable medicines divisions expected to continue strong growth, with robust order books and capacity expansions.

• CapEx guidance increased to ₹3,000 crore over the next two years to support growth projects.

• Ongoing investments in large-scale manufacturing, gene therapy, and ADC platforms to drive future growth.

• Composite Scheme of Arrangement for demerger and amalgamation involving Laurus Synthesis Private Limited is pending regulatory approval.