Laurus Labs Ltd.

NSE: LAURUSLABS | BSE: 540222 | ISIN: INE947Q01010 |Industry: Pharmaceuticals
|Expensive Performer

Laurus Labs Ltd.    
10 Jan 2019
HDFC Securities
Initiate coverage with a BUY rating and TP of Rs 480 (18x Dec-20E EPS). Laurus Labs is a young, R&D-driven; company with strengths in complex chemistry and cost-efficient capabilities in API manufacturing. Laurus has grown at a scorching pace with 30% revenue, 32% EBITDA and 40% earnings CAGR over FY12-18. However, price hikes in a key raw material (FCME) and Rs 1bn operating spend on the nascent formulations business led to a nosedive in 1HFY19 (40% earnings drop).
Laurus Labs Ltd. is trading below it's 30 day SMA of 339.47
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