Buy Laurus Labs, target price Rs 670: ICICI Direct

ICICI Direct has buy call on Laurus Labs with a target price of Rs 670. The current market price of Laurus Labs Ltd. is Rs 510.25. Time period given by analyst is one year when Laurus Labs Ltd. price can reach defined target.

Laurus Labs Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 27635.02 Crore) operating in Pharmaceuticals sector.

Laurus Labs Ltd. key Products/Revenue Segments include Pharmaceutical Products, Contract Service, Traded Goods, Other Operating Revenue, Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1206.31 Crore, down -6.08 % from last quarter Total Income of Rs 1284.35 Crore and up 5.45 % from last year same quarter Total Income of Rs 1143.96 Crore. Company reported net profit after tax of Rs 203.95 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 27.3 per cent stake in the company as of 30-Sep-2021, while FIIs owned 25.19 per cent, DIIs 2.44 per cent.