Laurus Labs : Grows by 40%; Board Recommends a Dividend of 15%
May 18, 2017 at 12:22 pm EDT
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Laurus Labs Ltd. (Laurus), a leading R&D driven pharmaceutical company
in India announces its Q4 & FY17 results.
FY17 Laurus reported:
Total Revenue rose 6.6% to Rs.18,919 mn as compared to Rs.17,746 mn
EBITDA higher by 19.3% at Rs.4,461 mn from Rs.3,740 mn
PAT increased 40.0% to Rs.2,026 mn from Rs.1,477 mn
EPS (Diluted) for the period stood at Rs.20 per share
The Board of Directors, at their meeting held on May 18, 2017,
recommended a final dividend of Rs.1.50 per share, subject to the
approval of shareholders.
Key Business Highlights
Overall
Prepayment of Loans resulted interest cost reduction apart from
reduction in cost of funds
Capex investments in FY 17 Rs.3,155 million.
R & D opex investments Rs.1,050 million and 5.6% as percentage of
sales in FY 17.
Unit IV expansion is in progress, the facility will add capacity to
Generics API, Synthesis and Ingredients business.
Operations at Sriam (100% subsidiary of Laurus) Unit 2 started in FY
17.
Generic API
Laurus in partnership with Natco has launched Velpatasivir (Hep-C)
product in India in May 2017.
As on Mar 17, the Company has filed 202 patent applications and 39
patents granted.
USFDA inspection scheduled in May 2017 for API facility.
Generic FDF
Filed 3 ANDAs and in addition completed 6 product validations in FY 17.
Capacity expansion of 5 billion tablets is in progress.
WHO inspection completed in March 2017.
FDF opex investments are Rs.982 million which includes Rs.335 million
relating to the R& D in FY 17.
Company received EIR from USFDA for formulations unit 2.
Synthesis
Unit 5 (dedicated manufacturing facility for Aspen) has commenced
validations in QE 31st Mar 17.
General
Received National Safety Award 2016 from Govt of India.
Received Best Management Award 2016 from Govt of AP.
Received Business Excellence Award 2017 from HMTV.
Dr. M. Venu Gopala Rao appointed as independent director and
non-executive Chairman
Dr. Ravindranath Kancherla appointed as independent director
Mr. Krishna Chaitanya Chava son of Dr Satyanarayana Chava, CEO joined
the Company as AVP Corporate Development in Apr 17.
BSE: 540222 NSE: LAURUSLABS ISIN - NE947Q01010
View source version on businesswire.com: http://www.businesswire.com/news/home/20170518006033/en/
Laurus Labs Limited is an India-based pharmaceutical and biotechnology company. The Company offers integrated portfolio of Active Pharma Ingredients (API) including intermediates, Generic Finished dosage forms (FDF) and Contract Research services to cater to the needs of the global pharmaceutical industry. The Company operates through three segments: Laurus Generics, Laurus Synthesis, and Laurus Bio. The Laurus Generics segment comprises API and FDF-Development, manufacture and sale of APIs and advanced intermediates and oral solid formulations/FDF. Laurus Synthesis segment comprises key starting materials (KSM), intermediates and APIs for new chemical entities (NCEs). Laurus Bio segment comprises recombinant products, animal origin free products for safer and viral free bio manufacturing. The Company operates through two geographical segments: Revenue from customers within India-Domestic, and Revenue from customers outside India-Exports. The Company sell its APIs in 56 countries.