Conference Call with Laurus Labs Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Laurus Labs announced Q4FY23 & FY23 results: Q4FY23: Revenue at Rs 1,381 crore, decreased by 3% (YoY) EBITDA at Rs 287 crore, decreased by 28% (YoY) EBITDA margins at 20.8% PAT at Rs 103 crore, decreased by 55% (YoY) PAT margins at 7.5% EPS (Diluted) for the period at Rs 1.9 per share (not annualised) Interim Dividend of Rs 1.2/- per share. FY23: Revenue at Rs 6,041 crore, increased 22% (YoY) EBITDA at Rs 1,594 crore, increased by 11% (YoY) EBITDA margins at 26.4% PAT at Rs 790 crore, decreased by 4% (YoY) PAT margins at 13.1% EPS (Diluted) (face value of Rs 2/-) at Rs 14.6 per share Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated, "FY23 has been a year of significant achievement and meaningful progress despite a challenging macro environment. We delivered strong full-year results driven by robust underlying business performance in our key growth pillars CDMO, and Non-ARVs generic portfolio. Our R&D-driven; commercial strategy continued to make advancements at speed and we are making efficient use of strongly linked technology platform and manufacturing excellence to seize new business opportunities, and widening our target market. Our investment programs are well on track with a focus on long-term success. We are also continuing to drive forward our sustainability agenda. We are entering FY24 with greater confidence that we’re creating a sustainable engine that will bring forth greater business resilience and generate long-term sustainable value for stakeholders well into next decade." Commenting on the results, V V Ravi Kumar, Executive Director & Chief Financial Officer said, “We delivered good financial performance for FY23 in line with our revised outlook. We achieved Rs 6,041 crore in revenues, representing 22% revenues growth, and Rs 1,594 crore EBITDA, equating to 26.4% margin. Business mix had positively contributed to margins but the negative operating leverage on new capacities commissioned, higher inflation and Fx impact let to the overall margin fall compared to last year. We are working on several initiatives around efficiency improvement, which should partly mitigate its impact in FY24. Our future capex projects towards strengthening CDMO and Non-ARV generics are advancing as per schedule and Debt leverage position remains comfortable. Our Q4 results was challenging driven by steep fall in CDMO revenues and higher upfront cost of Capex projects and R&D; Projects. We achieved, Rs 1,381 crore in revenues, representing 3% revenues decline, and Rs 287 crore EBITDA, resulting in 20.8% margin." Result PDF