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Swing Capital

Laurus Labs Ltd

NSE: LAURUSLABS BSE: 540222Pharma

Founded in 2005, Laurus Labs is a research-driven pharmaceutical and biotechnology company having a global leadership position in select Active Pharmaceutical Ingredients (APIs) including anti-retroviral, oncology drugs (including High Potent APIs), Cardiovascular, and Gastro therapeutics. They also offer integrated CMO and CDMO services to Global Innovators from Clinical phase drug development to commercial manufacturing. Laurus employs 6,500+ people, including around 1,050+ scientists, at more than 11 facilities approved by global agencies USFDA, WHO-Geneva, Japan-PDMA, UK-MHRA, EMA, TGA etc. [1]

₹1,325
52W: ₹584 — ₹1332
PE 96.6 · Book ₹97.3 · +1262% vs book
Market Cap₹71,536 Cr
Stock P/E96.6Price to Earnings
ROCE15.9%Return on Capital
ROE15.1%Return on Equity
Div. Yield0.15%Face Value ₹2

Weaknesses

  • −Stock is trading at 13.7 times its book value
  • −The company has delivered a poor sales growth of 5.01% over past five years.
  • −Company has a low return on equity of 9.72% over last 3 years.

Shareholding Pattern

Promoters27.49%
FIIs25.82%
DIIs13.96%
Public32.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters27.18%27.18%27.62%▲0.427.62%27.6%▼0.027.6%27.49%▼0.127.49%
FIIs25.67%26.08%▲0.425.56%▼0.525.51%▼0.025.7%▲0.226.17%▲0.526.52%▲0.325.82%▼0.7
DIIs13.56%13.05%▼0.512.74%▼0.311.78%▼1.011.94%▲0.211.72%▼0.212.42%▲0.713.96%▲1.5
Public33.59%33.69%▲0.134.09%▲0.435.09%▲1.034.78%▼0.334.52%▼0.333.57%▼1.032.73%▼0.8

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,1321,4151,1171,1851,2651,6501,4331,5671,5091,580
Expenses9621,1439561,0031,0591,2551,1051,1771,1641,205
Operating Profit170271161182206395327390346375
OPM %15%19%14%15%16%24%23%25%23%24%
Net Profit43121294257252158216175192
EPS ₹0.792.250.530.791.064.672.9343.243.55

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,089Cr, up 16.7% YoY. OPM at 24%.

Debt Position

Borrowings at ₹2,080Cr. Debt-to-equity ratio: 0.40x. Healthy balance sheet.

Capex Cycle

CWIP at ₹569Cr (19% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 13.96% (+3.60pp change). FIIs: 25.82% (+3.30pp change). Promoters hold 27.49%.

Margin & Efficiency

ROCE improving from 15% (Mar 2015) to 16% (Mar 2026). Working capital days: 64.

Valuation

PE 96.6x with 15.9% ROCE. Price is 1262% above book value of ₹97.3. Dividend yield: 0.15%.

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