{"id":111,"date":"2019-08-07T12:05:16","date_gmt":"2019-08-07T12:05:16","guid":{"rendered":"http:\/\/www.assetmultiplier.co.in\/blog\/?p=111"},"modified":"2019-08-07T12:05:17","modified_gmt":"2019-08-07T12:05:17","slug":"laurus-labs-1qfy20-results-temporary-troubles-growth-story-intact","status":"publish","type":"post","link":"https:\/\/www.assetmultiplier.co.in\/blog\/2019\/08\/07\/laurus-labs-1qfy20-results-temporary-troubles-growth-story-intact\/","title":{"rendered":"Laurus Labs 1QFY20 results: Temporary troubles, growth story intact"},"content":{"rendered":"\n<p><em>Dated: 6th August 2019<\/em><\/p>\n\n\n\n<p>1QFY20\nresult update:<\/p>\n\n\n\n<ul><li>Consolidated Revenue grew 2%\nYoY (-% QoQ) to Rs 5,506 mn. API, Synthesis, Ingredients and FD segments\ncontributed to 67%,11%,3% and 19% of revenues&nbsp;\nrespectively.<\/li><li>EBITDA declined 3% YoY (+27%\nQoQ) to Rs 832 mn. Reported EBITDA margins contracted by 80 bps YoY to 15.1%\nfrom 15.9% in 1QFY19. <\/li><li>Net Profit fell 9% YoY to Rs 151\nmn <\/li><\/ul>\n\n\n\n<p>Management\nCommentary: <\/p>\n\n\n\n<ul><li>Due to delay in\nshipment, revenues of Rs 750-100 mn are pushed to 2QFY20.<\/li><li>Laurus has\nincurred capex of Rs 450 mn in 1QFY20 and has guided for Rs 1,500-2000 mn capex\nin FY20.<\/li><li>Laurus is very\npositive about finished dosage business and expects revenues to reach to Rs\n4,200 mn for FY20.<\/li><li>Company expects\n~10% growth in API business for FY20. Company expects ARV revenues to be in the\nrange if Rs 1,300-1,400 mn in FY20<\/li><li>Laurus has\ncompleted backward integration and supply issues from China have been\nmitigated. This has led to an improvement in the gross margin.<\/li><\/ul>\n\n\n\n<p>Consensus\nEstimate (Source: marketscreener website)<\/p>\n\n\n\n<ul><li>The closing\nprice of Laurus is Rs 317\/- as on 6<sup>th<\/sup> August 2019. It traded at 18x\n\/ 12x the consensus EPS for FY 20E \/ FY 21E of Rs 17.2 \/ 26.7 respectively. <\/li><li>Consensus\ntarget price of Rs 435\/- implies a PE of 16x on FY21E EPS of Rs 26.7.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Dated: 6th August 2019 1QFY20 result update: Consolidated Revenue grew 2% YoY (-% QoQ) to Rs 5,506 mn. API, Synthesis, Ingredients and FD segments contributed to 67%,11%,3% and 19% of revenues&nbsp; respectively. EBITDA declined 3% YoY (+27% QoQ) to Rs 832 mn. Reported EBITDA margins contracted by 80 bps YoY to 15.1% from 15.9% in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/111"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=111"}],"version-history":[{"count":1,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/111\/revisions"}],"predecessor-version":[{"id":112,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/111\/revisions\/112"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}