Laurus Labs PAT Grows By 40%; Board Recommends A Dividend Of 15%

HYDERABAD, India--(BUSINESS WIRE)--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