The company also reported a surge of 17.9 per cent in EBITDA for Q4 FY19, profit after taxes as Rs 432 mn
Laurus Labs has recently released its financial report for the fourth quarter of FY19, reporting a hike of 13.4 per cent in its revenue. The report also mentioned an increase of 17.9 per cent in the company’s earnings before interest, tax, depreciation and amortization (EBITDA) margin. The company’s Profit After Tax (PAT) for Q4 FY19 stood at Rs 432 mn.
Commenting on the results, Satyanarayana Chava, CEO, Laurus Labs, said, “During the quarter, we have demonstrated our FDF skills by completing our maiden TLD (Tenofovir, Lamivudine & Dolutegravir) shipment ahead of schedule for Global Fund, where we have a strategic partnership for 3.5 years. Also, we commenced commercial supplies of Lamivudine & Dolutegravir APIs. Our Synthesis business has recorded robust growth, and we expect the FDF + Synthesis businesses to drive our growth momentum. We will continue to invest in our R&D pipeline for all our key businesses. We are very happy to announce that the Board has recommended a Final Dividend of INR 1.5/share of FV INR 10. I remain extremely optimistic on all our businesses with all the growth pivots in place for an exciting FY 20.”
For FY19, the company reported an overall hike of 11.5 per cent in its net revenue, which amounted to Rs 22,919 mn. As mentioned in the company’s press release, the earnings before interest, tax, depreciation and amortization (EBITDA), which amounted to Rs 3,712 mn, grew by 16.2 per cent for FY19, and the profit after Tax (PAT) stood at Rs 938 mn for the same.
“Our total revenue grew by 11.5 per cent for FY19 & 13.4 per cent for the quarter. With our key business segments supporting growth, we have seen a healthy shift in our product mix which has led to improvement in gross margins and EBITDA margins sequentially. For the year FY 19 we have minimized our FOREX losses and ended the Q4 FY19 with no FOREX loss. Considering the challenges faced in FY19, we have undertaken various investments related initiatives which have started yielding results. Robust PAT growth has come on the back of improved top line and higher Operating Leverage,” said V V Ravi Kumar, ED and Chief Financial Officer, Laurus Labs.
“With all the new units expected to contribute significantly in FY20 I remain confident of improvements in our Return Ratios. With major CAPEX behind us, we are working towards achieving positive FCF in FY 21,” he adds.