Operating deleverage drags earnings

Company
25 Jan 2024
5 Min read 
  • Laurus Labs reported lower-than-expected earnings for 3QFY24 due to operational costs and delays in sales ramp-up.
  •  PAT estimates for FY24/FY25/FY26 have been cut by 56%/30%/20%.
  •  Laurus Labs is undergoing validation and capex for various segments, including animal health and crop science.
  •  The company expects gradual ramp-up and potential business growth in the next 3-4 years.
  •  Reiterate BUY rating with a target price of INR440.
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