Q2/Q3 2024 Earnings Review - 2

Read part 1 here

In this post we will focus on

• Laurus Labs

• Ami Organics

• Piramal Pharma

Laurus Labs

Laurus Labs had another soft quarter both from top line and bottom line perspective.

Some background for some folks who are wondering why price is not dropping even though results on face value look bad

In FY23, Laurus received a one-time order from a Pharma giant. In the absence of such an order in FY24, the company’s overall revenue declined significantly. The company nevertheless anticipated significant revenue from the CDMO segment for FY24 based on the agreement signed with innovator companies for product development and commercialisation, however, in FY24, the innovator companies have gone slow in terms of validation and filing of approval for the product, which in turn, impacted the revenue for Laurus. This revenue is expected to flow in FY25 along with hopefully repeat of FY23 repeat order from Pharma giant.