LAURUS LABS Results Analysis-Q3FY26

Operating Revenue for Q3FY26 is Rs. 1,778 Crs., 25.67% growth YoY (primarily driven by robust Generics growth (both FDF & API business) supported by sustained CDMO), Total Income is Rs. 1,784 Crs., 25.24% growth YoY, EBITDA is Rs. 480 Crs., 68.41% growth YoY, EBITDA Margin is 27% Improved (due to favorable product mix and improving operational leverage ) by 685 Basis points YoY, PBT Rs. 327 Crs, 150% growth YoY, PAT Rs. 253 Crs, 179% growth YoY (which includes 8.3 Cr. one-time impact of New Labour Code). On QoQ basis Op. Revenue is up by 7.55%, Total Income is up by 6.17%, EBITDA is up by 19.08%, PBT is up by 21%, PAT is also up by 30.64% (which includes 8.3 Cr. one-time impact of New Labour Code). Strong momentum led by CDMO division, supported by robust performance in Generics division. Continued investment into manufacturing network expansion and niche capabilities with CAPEX at 15% of sales. Underlying EBITDA margins expected to be higher driven by better asset utilization, product mix, while maintaining focus on operational excellence. ARV run-rate reset upward (to ₹2.6kcr ±200) driven by API capacity expansion and market share gains.