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Laurus Labs PAT Grows by 40%; Board Recommends a Dividend of 15%

PR-Inside.com: 2017-05-18 18:22:01

Laurus Labs PAT Grows by 40%; Board Recommends a Dividend of 15%

Laurus Labs Ltd.
Pavan Kumar N, +919246564666
mediarelations@lauruslabs.com
http://www.lauruslabs.com

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

LAURUS LABS PAT GROWS BY 40%, BOARD RECOMMENDS A DIVIDEND OF 15%. LAURUS CONTINUES TO MAINTAIN ITS GROWTH MOMENTUM

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



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