Synthesis revenue for Laurus has increased 375% YOY to 720 Cr from 155 Cr last year. Infact for the first time, Synthesis revenue (720 Cr) is more than API revenue (680 Cr). Key thing to note here is, this rise in synthesis revenue is due to paxlovid intermediates sales and it is unsustainable and shouldn’t be extrapolated as a structural one.
It would have been a disaster quarter for Laurus if Synthesis division hadn’t been fired due to paxlovid. Formulation division has suffered tragically with 70% decline in revenues YOY to 149 Cr from 495 Cr last year. Infact paxlovid saved Laurus from a terrible quarter.
FDF suffered due to lower volumes and lower pricing of ARV FDF.
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