Laurus Labs Ltd. · NSE:LAURUSLABS
Laurus Labs — FY2025 Earnings Presentation
36 slides from Laurus Labs's earnings presentation, Apr 24, 2025
Slide 1: Cover letter to stock exchanges: Investors/Analysts Presentation
April 24, 2025 To To The Corporate Relations Department The Listing Department BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Code: 540222 Code: LAURUSLABS Dear Sir / Mada
Slide 2: FY 2025 Financial Results
FY 2025 Financial Results 24/04/2025 © 2025 Laurus Labs Ltd.
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. W
Slide 4: Agenda
Agenda 1 FY 2025 Corporate Overview 2 FY 2025 Financial Overview 3 FY 2025 Business Review & Strategy © 2025 Laurus Labs Ltd. FY25 Results Presentation 24/04/2025 3
Slide 5: Corporate Overview
1 Corporate Overview FY 2025 4
Slide 6: FY 2025 – Enhanced performance on resilient Core business
FY 2025 – Enhanced performance on resilient Core business Full Year 2025 in numbers 4Q 2025 ₹5,554 Cr 55.4% 7,800 KL 7,042 ₹1,720 Cr Revenues Gross margin Reactor Employees Revenues +10% +3.7% volume +5% +19% ₹1,115 Cr ₹659 Cr 2.3x 2,634 ₹477 Cr EBITDA margin: CAPEX Net debt / EBITDA R&D & Quality E
Slide 7: Accelerated excellence in a year of transformative progress
Accelerated excellence in a year of transformative progress Transform Elevate Healthy Securing Commercial potential R&D engine Financial execution ESG • Working in late phase & • CDMO focused new R&D • Expanded margins both at • Inclusion in S&P Global Commercial phase projects facility operational
Slide 8: CDMO market – Maintaining high market momentum
CDMO market – Maintaining high market momentum Small molecule CDMO market is structurally growing due to increase in outsourcing • Small molecules remains dominant modality representing +70% 1 of novel drug approval and holding high share in clinical pipeline $80bn Global SM CDMO demand expected to
Slide 9: FY 2025 – Outlook delivered
FY 2025 – Outlook delivered Outlook Delivered Growth year with H1: 1% Revenue +10% H2 better than H1 H2: 19% H1: 14.6% EBITDA margin Around 20% levels +20.1% H2: 24.3% © 2025 Laurus Labs Ltd. FY25 Results Presentation 24/04/2025 8
Slide 10: Business Division: Resilience through diversification, led by Integrated model
Business Division: Resilience through diversification, led by Integrated model Strong cumulative performance; Declining ARV share Broad portfolio of Customers Revenue by Customer location CAGR % FY 20-25 FY 25 Revenue mix North America 20% 1 CDMO +32% +42% 28% ROW 55% 2 GENERICS +10% +2% 72% 25% Eur
Slide 11: Increase in asset turnover levels to drive future Revenues and Margin pick up
Increase in asset turnover levels to drive future Revenues and Margin pick up (~6 Quarters) • Execution of significant CDMO project deliveries since 1.5x mid-FY25 - Long lead times for 54% Complex CDMO project execution • Long manufacturing lead-times for Complex clinical - High Capex Intensity comp
Slide 12: Continuing organic investment to support long term growth
Continuing organic investment to support long term growth Strategic high return API / CDMO portfolio Phase-wise Split of Investments • Groundbreaking of microbial fermentation supported by integrated DP facility (Vizag) expected by June 2025 16% • CDMO capacity expansion completed across 26% multipl
Slide 13: Robust network of 15 D & M Sites
Robust network of 15 ‘D & M’ Sites: Supporting Global clients with Unique Capabilities R&D center Small Molecules R&D 1 with Kilo lab Hyderabad Unit 1 & 3, Vizag 3600 KL DS/DP Development 1 API/DS Manufacturing 1 2 3 4 5 6 7800 KL Reactors volumes New R&D - Hyderabad Unit 5, Vizag 161 KL 200,000sft
Slide 14: Commitment to One Quality for all Markets & Highest Compliance Standards
Commitment to “One Quality for all Markets” & Highest Compliance Standards 160 Quality audit completed in FY25: Regulatory # 14 & Customer # 146 54 Inspection passed by major Regulators (US FDA, WHO, EU EMA, and Japan PMDA) 1260+ Quality audits & Inspection by Global Customers, Regulators since ince
Slide 15: R&D platform: Advancing Sustainable technology and Capability extension
R&D platform : Advancing Sustainable technology and Capability extension Significant Updates • Solidifying position on Flow/Bio-catalysis platform. Executed ton-level >75 R&D project* supported in FY25 project utilizing proprietary designed flow reactors at high temp/pressure • CDMO R&D facility ope
Slide 16: Advancing ESG agenda and Enhancing competitive advantage
Advancing ESG agenda and Enhancing competitive advantage Significant updates Further planned activities • EMS (ISO 50001) completed for multiple facilities • Product Life cycle assessment • Acquired 26% equity in Kurnool Renewables (SPV) for ₹ 35 Cr, enabling Co to access 26 • Carbon-neutral Biomass
Slide 17: Financial Overview
2 Financial Overview FY 2025 16
Slide 18: FY 2025: Improving Core performance
FY 2025: Improving Core performance FY25 Financial Summary Comments [₹ Crore] FY25 FY24 Y-o-Y • Revenues : ₹ 5,554 Cr, increased 10% primarily driven by strong CDMO execution while generic FDF growth offset by lower API business Revenues 5,554 5,041 10% • Gross Margins : 55.4%, increased by 370 bps
Slide 19: FY 2025: Strong CDMO execution, supported by FDF while API remain soft
FY 2025: Strong CDMO execution, supported by FDF while API remain soft FY25 Divisional Revenue Performance FY25 Divisional Mix [₹ Crore] FY25 FY24 Y-o-Y CDMO 1,534 1,082 42% 25% 28% CDMO 28% Small molecules 1,374 922 49% / +6% over last year Bio 160 160 0% Generics 72% / -6% over last year ₹ 5,554 C
Slide 20: FY 2025: Financial Position
FY 2025: Financial Position FY25 Balance sheet [₹ Crore] FY25 FY24 Y-o-Y Increase in net fixed assets Increase mainly in property, plant and equipment due to Net Fixed assets (incl. CWIP) 4,316 4,048 +268 • Investments in new R&D center for CDMO activities in Hyderabad site Goodwill and Intangibles
Slide 21: 4Q FY25: Higher revenues and better mix driving strong profitability growth
4Q FY25: Higher revenues and better mix driving strong profitability growth 4Q FY25 Financial Summary Comments [₹ Crore] 3Q FY25 4Q FY25 4Q FY24 Y-o-Y Q-o-Q • Revenues : ₹ 1,720 Cr, increased 19% primarily driven by strong CDMO and generic FDF partly offset by lower API business Revenues 1,415 1,720
Slide 22: 4Q FY25: Continued CDMO momentum supported by Generic FDF
4Q FY25: Continued CDMO momentum supported by Generic FDF 4Q FY25 Divisional Revenue Performance 4Q FY25 Divisional Mix [₹ Crore] 3Q FY25 4Q FY25 4Q FY24 Y-o-Y Q-o-Q CDMO 448 490 265 85% 9% 27% CDMO 29% Small molecules 400 461 236 95% 15% 31% / +8% over last year Bio 48 29 29 0% -40% Generics 71% /
Slide 23: Summary Quarter Performance: Acceleration in growth momentum
Summary Quarter Performance: Acceleration in growth momentum EBITDA & Gross Profit Margins Revenues [₹ Cr] 900 [₹ Cr] 56.9% 55.1% 55.2% 58.0% 54.3% 54.5% 800 52.5% GPM 1,720 700 50.6% 49.8% 48.0% 600 1,440 1,415 500 27.7% 38.0% OPM 1,182 1,224 1,195 1,195 1,224 400 18.0% 20.1% 28.0% 300 14.2% 15.4%
Slide 24: Business Review & Strategy
3 Business Review & Strategy FY 2025 23
Slide 25: CDMO – Small molecules: Solidifying growth driven by enhanced capabilities
CDMO – Small molecules: Solidifying growth driven by enhanced capabilities Revenue Growth Comments [₹ Cr] Y-o-Y ▲ 95% • >95% growth for Q4 and >49% growth for Full year mainly +49% Q-o-Q ▲ 15% driven by several mid-to-late stage NCE deliveries and steady increase in sales from new manufacturing asse
Slide 26: CDMO – Small molecules additional updates
CDMO – Small molecules additional updates Successfully commenced operations at New R&D in Nov 2024 located in • Several RFPs received and multiple contract negotiations Genome Valley, Hyderabad To enhance clinical project reserves ongoing covering complex chemistries, biocatalysis, flow chemistry, p
Slide 27: BIO – Focus continues on building robust pipeline
BIO – Focus continues on building robust pipeline Revenue Growth Comments [₹ Cr] Y-o-Y ▲ 0% • Healthy underlying revenue growth in 2025 driven by continued Q-o-Q ▼ 40% strong demand in AOF portfolio (CGT, MABs, Media) 160 160 • Diverse and potential longer term programs added to pipeline in CDMO ser
Slide 28: GENERICS – Impacted by soft API business, focus on differentiated portfolio
GENERICS – Impacted by soft API business, focus on differentiated portfolio Revenue Growth Comments [₹ Cr] +2% Y-o-Y ▲ 5% • Continued strong Q/Q growth ARV & DM led. However, soft FY 3959 4020 Q-o-Q ▲ 27% delivery driven by prioritise API capacity allocation into attractive business opportunities +
Slide 29: KrKa Pharma, JV update – Collaboration progressing well
KrKa Pharma, JV update – Collaboration progressing well 1st phase Investment 1 completed • Cumulatively invested ₹ 215 Cr in JV (incl. Laurus ₹ 105 Cr and KrKa ₹ 110 Cr) in FY25, Completed land acquisition at Hyderabad (19 acre) • Groundbreaking for FDF manufacturing facility by June-25 with focus t
Slide 30: ARV - Tough market environment; Maintained stable outlook
ARV - Tough market environment; Maintained stable outlook while navigating risk ARV^ business de-risking continues Industry environment • Continued funding for life saving medicines by Large buyers^ [₹ Crores] Declining Revenues Share % • Optimal capacity utilization, Competitive headwinds driving l
Slide 31: Cell therapy – Prioritise expanding CAR-T utilization
Cell therapy – Prioritise expanding CAR-T utilization • Expanding hospital network > 80 Hospital centers • Encouraging data (efficiency/safety) on NexCAR presented at 6x Revenue increase ASH 2024 demonstrating strong clinical delivery success in limited resource setting 62 • Acceleration of multiple
Slide 32: Gene therapy – Focus on capability building continues
Gene therapy – Focus on capability building continues • New President appointed to lead Gene R&D and manufacturing initiatives and also explore other emerging technology platforms/therapeutics • >US$20mn CAPEX investments committed in building GMP facility (Hyderabad) – target completion by March 20
Slide 33: Appendix
Appendix Pinus Labs
Slide 34: Financial Highlights FY 2019-25
Financial Highlights FY 2019-25 Revenues EBITDA & Gross Profit Margins [₹ Cr] CAGR: +16% 4000 [₹ Cr] CAGR: +20% +10% 3500 70.0% 60.0% 3000 55.2% 55.5% 54.1% 55.4% GPM 50.1% 51.7% 50.0% 2500 46.1% 32.7% 29.1% 40.0% 26.4% 2000 6,041 20.1% 20.1% OPM 5,554 30.0% 1500 4,814 4,936 5,041 16.2% 15.8% 20.0%
Slide 35: Earnings call details
Earnings call details Laurus Labs Results Conference Call to be held on Thursday, 24 April 2025 at 5:00 PM IST Dial – In – Details Universal Dial-In +91 22 6280 1384 Click below to Express Join with India Local access Number +91 22 7115 8285 Diamond Pass Singapore +800 1012045 Click here to register
Slide 36: Additional Information
Additional Information As a research-driven pharmaceutical manufacturing organization, Laurus Labs has been developing and assisting its client organizations to succeed in innovative medicines that globally enhance the health outcomes for patients. Since our inception in 2005, we have been developin