**Financial Highlights:** Laurus Labs reported strong Q1 FY26 financial results with ₹1,570 Cr revenue, up 31% year-on-year.

EBITDA surged 127% to ₹389 Cr, expanding margins by 10.5 percentage points to 24.8%. Gross margins held strong at 59.4%. The company noted continued recovery in asset turnover levels. **Strategic Initiatives & Growth Drivers:** Robust CDMO momentum and growth in generics are key drivers.

Strategic investments continue with Q1 CAPEX at ₹265 Cr (17% of sales), including groundbreaking for new Gene/ADC and Microbial fermentation facilities.

The focus is on enhancing manufacturing networks and specialized modalities. **Business Developments:** CDMO – Small Molecules saw over 130% growth.

The KRKA joint venture's finished formulation facility broke ground, with an initial investment of over ₹500 Cr planned.

Cell therapy showed continued demand for NexCAR19, with a second GMP facility opening soon, and a new Gene/ADC manufacturing facility is underway. **Market Position & Competitive Advantage:** Laurus Labs leverages an integrated ‘D&M’ platform and unique capabilities, supported by over 110 active pipeline projects.

Strong R&D platforms, including biocatalysis and flow chemistry, underpin its offerings.

The company maintains high global quality standards with numerous regulatory certifications. **Investor Implications:** The strong CDMO performance, significant margin expansion, and strategic investments in new high-value capabilities suggest positive growth potential.

Continued asset turnover recovery is a positive signal for future performance.