Laurus Labs H1 FY27 Revenue Up 31% to ₹4,233 Cr

Revenue: ₹4,233 Crore (up 31% from ₹3,223 Crore)
Gross Margins: 62.9% (up 330 bps from 59.6%)
EBITDA: ₹1,406 Crore (up 72% from ₹818 Crore)
EBITDA Margin: 33.2% (up 780 bps from 25.4%)
Net Profit: ₹809 Crore (up 126% from ₹358 Crore)
Net Profit Margin: 19.1% (up 800 bps from 11.1%)
EPS: ₹15.0 (up 127% from ₹6.6)
Operating Cash Flow: ₹805 Crore (down 26% from ₹1,093 Crore)
CAPEX: ₹864 Crore (up 77% from ₹489 Crore)
Net Debt-to-EBITDA: 1.0x (improved from 1.3x)
ROCE: 22.5% (improved from 16.3%)
R&D Spends: ₹183 Crore (4.3% of revenue, up 34%), including ₹35 Crore capitalized for Advanced Biologics

Revenue: ₹2,206 Crore (up 33% from ₹1,653 Crore; up 9% QoQ from ₹2,026 Crore)
Gross Margins: 63.0% (up 310 bps from 59.9%; up 30 bps QoQ from 62.7%)
EBITDA: ₹762 Crore (up 78% from ₹429 Crore; up 18% QoQ from ₹644 Crore)
EBITDA Margin: 34.5% (up 850 bps from 26.0%; up 270 bps QoQ from 31.8%)
Net Profit: ₹441 Crore (up 126% from ₹195 Crore; up 20% QoQ from ₹368 Crore)
Net Profit Margin: 20.0% (up 820 bps from 11.8%; up 180 bps QoQ from 18.2%)
EPS: ₹8.2 (up 128% from ₹3.6; up 21% QoQ from ₹6.8)
R&D Spends: ₹65 Crore (2.9% of revenue, down 6%)

CDMO Division: ₹904 Crore (up 75% YoY; up 4% QoQ)
Small Molecules: ₹875 Crore (up 86% YoY; up 5% QoQ)
Bio: ₹29 Crore (down 38% YoY; down 17% QoQ)
Affordable Medicines (AM) Division: ₹1,302 Crore (up 15% YoY; up 13% QoQ)
API: ₹625 Crore (up 1% YoY; down 4% QoQ)
FDF: ₹677 Crore (up 31% YoY; up 35% QoQ)
ARV Revenue (combined API & FDF): ₹735 Crore (up 0.3% YoY; up 10% QoQ)

Announced investments in two technology platforms: Oligonucleotides and peptide-resins to strengthen Integrated CDMO offering.
CAPEX/Revenue reached 20% in H1 FY27.
Company plans to invest > ₹3,000 Crore over FY27 and FY28 across manufacturing network and capability expansion.
>85% of Growth CAPEX allocated to diversified portfolio with high-growth projects in API, Formulations, Peptides, Fermentation, Gene Therapy and ADCs.
H1 CAPEX at ₹864 Crore.
Key growth investment projects:
Large-scale Peptides API manufacturing with SPPS, LPPS and hybrid approaches
Large-scale API facility Unit-7 with multiple API blocks
Enzyme Fermentation plant with >1.2 million liters capacity
Commercial Gene & ADC platform with fill-finish capabilities

CDMO - Small Molecules: H1 growth of 77% driven by late-stage clinical projects and commercial API supplies. Peptide manufacturing facility inaugurated ahead of schedule with >16,000L SPPS capacity.
Bio Division: Underlying pipeline momentum remains strong despite campaign phasing affecting Y/Y numbers. LB-4 Fermentation unit (>400kL) progressing for commissioning by Q3 FY27.
Affordable Medicines: Steady progress with 13% H1 growth. Global FDF filings: 39 approved in US (15 tentative), 19 in EU, 16 in Canada, 59 in ROW. DMF filings cumulatively at 92; developed market FDF filings cumulatively at 96.
KRKA JV: FDF site on track with Phase-I production blocks opening mid-2027 for High Potent and General OSD.
Advanced Biologics: Gene Therapy & ADC GMP facility commissioning on track. ADC programs from Aarvik Therapeutics technology transfer progressing. Cell Therapy: >750 infusions as of Sep 2026; 2nd GMP facility released March 2026 with +2,500 treatment capacity; BCMA Phase-2 studies initiated.

Successful inspections by major regulators (US FDA, WHO, EU EMA, Japan PMDA): 54 total
Quality audits & inspections by global customers and regulators: 1,460+ since inception
H1 FY27: 59 quality audits (1 regulatory, 58 customer)
All key facilities have successful recent US FDA inspections with satisfactory EIR status