@ricky_
CDMO is on track actually, FY23 laurus had one off revenue from Paxlovid sales to Pfizer.
Now that’s gone and we have the steady base buiseness – this base should grow consistently.
FDF business is akin to commodity business, hard to predict any steady base. You will have temporary profit pools which will dry up with increased competition. Laurus had a good run in 2020-22, now they are facing headwinds, no idea when it will stabilize.
Segment wise revenue in last 5 financial years,
| Laurus labs | ||||
|---|---|---|---|---|
| API | FDF | CDMO | Bio | |
| FY19 | 1943 | 55 | 295 | – |
| FY20 | 1621 | 825 | 385 | – |
| FY21 | 2621 | 1664 | 519 | – |
| FY22 | 2039 | 1880 | 917 | 100 |
| FY23 | 2609 | 1140 | 2167 | 125 |
Synthesis+Bio should be major revenue driver in 5-10 year time frame, thats my bet atleast.
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