Sharekhan's research report on Laurus Labs
Laurus Labs reported muted results for Q4FY22 with PAT marginally missing estimates. Management commentary on outlook for the Synthesis and FDF segments was encouraging, while the API segment’s performance is likely to normalise in FY23. Consequently, the management has retained its $1 billion revenue guidance for FY23. Citing the strong demand environment Laurus has revised its capex guidance upwards to Rs 2000-2500 crore spread over the next two years.
At CMP, the stock trades at 24.8x/19.0x its FY23E/FY24E EPS, which provides ample headroom for expansion. we retain Buy recommendation with an unchanged PT of Rs. 735.
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