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Motilal Oswal Report
With a significant capex underway (Rs 390 crore over FY22-26; 78% towards contract development manufacturing organisation/active pharma ingredient) and scaled capabilities, Laurus Labs Ltd. appears well-positioned to sustain CDMO growth, benefit from the commercial supply ramp-up, and maintain leadership through the next phase of the CDMO cycle.
After a low of Rs 160 crore PAT in FY24, Motilal Oswal expect Laurus Labs to end FY26 with Rs 850 crore PAT and a 16% CAGR over FY26-28, reaching Rs 1,150 crore.
The brokerage values Laurus Labs at 62 times 12 months forward earnings to arrive at a target price of Rs 1,280. Reiterate Buy.
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