Laurus Labs PAT Grows by 40%; Board Recommends a Dividend of 15%
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
- 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.
- 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.
- 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.
- Unit 5 (dedicated manufacturing facility for Aspen) has commenced validations in QE 31st Mar 17.
- 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.
ISIN – NE947Q01010