Laurus Labs (LAURUSLABS) Q4 2025 earnings summary

Executive summary

• FY2025 revenue grew 10% year-over-year to ₹5,554 crore, driven by strong CDMO execution, improved product mix, and expansion in technology platforms such as biocatalysis and continuous manufacturing.

• EBITDA rose 40% to ₹1,115 crore, with margin expansion to 20.1%, aided by higher asset utilization and a one-time land sale gain.

• Net profit surged 122% to ₹358 crore, reflecting operational leverage, improved divisional mix, and contributions from land sale and external investments.

• CDMO revenues increased 42% year-over-year, now comprising 28% of total revenue, while generics grew 2% and API remained soft.

• The company advanced clinical and commercial projects, expanded into cell and gene therapies, and strengthened leadership in gene therapy and antibody-drug conjugates.

Financial highlights

• FY2025 consolidated revenue was ₹5,553.96 crore, up from ₹5,040.83 crore year-over-year; Q4 revenue was ₹1,720.30 crore, up 19% year-over-year.

• Gross margin improved to 55.4% for the year; Q4 gross margin at 54.5%.

• EBITDA for Q4 was ₹477 crore (27.7% margin); full-year EBITDA margin at 20.1%.

• Net profit after tax for FY25 was ₹358.34 crore, up from ₹162.27 crore in FY24; Q4 net profit was ₹232.77 crore.

• Basic EPS (consolidated) for FY25 was ₹6.65, up from ₹2.98 in FY24.

Outlook and guidance

• FY2026 expected to see further revenue and profit growth, with operating margins improving due to better asset utilization and product mix.

• Non-ARV formulation revenue expected to rise from Q3 FY2026 as new approvals and CMO expansions come online.

• CDMO revenues anticipated to grow, with significant contributions from human health, animal health, and crop sciences.

• ARV revenues projected to remain stable at ₹2,400–2,600 crore.

• Asset turnover expected to normalize over the next two years, supporting future margin expansion.