Further, the company's foray in the lucrative biologics/biotech space through the acquisition of a majority stake in Richcore Lifesciences would be a key positive as it would create a new revenue stream. We interacted with the management of Laurus Labs Limited (Laurus) and their commentary suggests a robust growth outlook. Laurus' formulations business is gaining traction with the tender business, which accounts for around three-fourth of total formulation sales, is witnessing sturdy growth. Moreover, Laurus is expanding capacities, primarily through brownfield expansions to cater to increasing demand. The first leg of de-bottlenecking is...