Thread - Laurus labs earnings call (not a buying recommendation)
• Richmore lifesciences will help to enter in recombinant protein. • Revenue from formulation div is 35%. • Recently got approval for anti-retroviral drug and have orders for the same and will service in first half of fy22. • Seen growth in North America and Europe
• Commenced marketing of in-life science products, 2 out of 5 products are launched, remaining in next 6 months. • For EU validated additional products for CDMO with partners and expect significant upside in fy23. • Capacity through de-bottlenecking is operational now
• Ground field expansion in similar capacity will be operational in phases from Oct 2021 till end of fy22. • Continue to invest 4% of revenue in R&D. • Generic API division - Highest anti-retroviral sales.
• Increase in demand for third party api sales still expanding to serve existing customer requirements.
• 5% growth in oncology segment. • More capacity for contract manufacturing of generic API. Visibility in diversification in generic API will be seen in fy23.
• In synthesis div recorded 20% growth. Sales growth increased by 35% yoy. • Construction on going in Hyderabad for CRAMS facility.
• Acquired land at Vizag which will cater to requirements of manufacturing for other divisions for next 25yrs. • In process of acquiring land for manufacturing of hormones, steroids, hypo tent molecules.
• In capex front incurred around 700cr. 50% invested in API, 30% fdf, 20% for contract manufacturing and biosimilar. • Next 2 yrs capex of 1500-1700cr. Capex has been increased from previous concall based on visibility in API, crams and formulation div.
Also investing in custom synthesis. Capex has increased by 500cr from last concall. This is partly to bio as well in which 60cr will be invested
• Planning to have independent synthesis company (r&d, manufacturing and business development) • Will see significant increase in formulation capacity in 2-3qtr of fy22 due to recent de-bottlenecking in March.
• Logistics cost had gone up in recent past other than that no disruption seen to affect Manufacturing.
• Bullish on CRAMS in near future hence have started dedicated r&d with investment of 150cr. • $10mn opportunity in formulation out of which have order for half and will service by sept 2021. Next yr. could be weak
• Laurus bio-rich core will go commercial in next 2 weeks. 2 fermenters will go for use in May and other 2 in Sept. Have orders for those capacity. Hope to double the revenue in that div in fy22. Looking to expand that capacity. Current revenue is 50cr. Will mature in 5yrs
• Product expansion and volume growth seen in formulation. • Custom synthesis is 10% of revenue which is high margin business. Expect to increase to 20% by fy25. It will outpace other div like API, formulation. Vizag plant will help in this.

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More from @ViaWealthy

4 May
Why looking at past 10 years record and investing in such large cap proven stocks is not great method.
Sometimes coffee may not smell right. These are largest global companies in 2000. Gave great 2 decades run from 1980. Now it's 20 years. Return frm 2000 is "ZERO".
By the time Welch stepped down in 2001, he had transformed GE from a $25 billion manufacturing company into a $130 billion conglomerate of “boundary-less” segments. Image
Dividend history tll 2000. It went global, shutting down unrelated businesses. Jack Welch books are best ones to read if you are company manager or factory owner. Image
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Today up by 4% on top of last 1 month 16% + . when mkts are steady. @smallcaseHQ… Image
Top holding are on massive rally.
No cyclical no commodity.

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Top allocation is now 4 times purchase cost.
Another next top allocation is 2.5 times. Both are new age tech based companies with solid business model and scalability
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