#Lauruslabs - its about operating leverage..
Below table compares data for last 8 qtrs. if one compares Mar'21, best Profit ever after which stock touched 700, and Dec'22, Gross profit has actually gone up, GM declined by 200 bps, but EBIDTA declined by 750 bps, 550 bps decline
Below table compares data for last 8 qtrs. if one compares Mar'21, best Profit ever after which stock touched 700, and Dec'22, Gross profit has actually gone up, GM declined by 200 bps, but EBIDTA declined by 750 bps, 550 bps decline
is due to emp and other exp.
Dep and Int has eaten 300 bps from PBT
this is because of addition of 2000 crs gross block to existing 3000 crs gross block as on Mar'21. Sales hasn't grown in the same proportion.
If sales would be 2000, %EBIDTA would be 32% which will happen
Dep and Int has eaten 300 bps from PBT
this is because of addition of 2000 crs gross block to existing 3000 crs gross block as on Mar'21. Sales hasn't grown in the same proportion.
If sales would be 2000, %EBIDTA would be 32% which will happen
as utilization of API and FDF block picks up. This will happen towards start of FY25. FY25 and FY26 will have the best operating leverage because then API contribution will reduce to 30% and FDF+CDMO will move to 70% improving gross margins back to 55-56%.
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