Laurus Labs announced that its subsidiary, Laurus Bio, has signed a definitive agreement for an equity investment of Rs 120 crore from Eight Roads Ventures and F-Prime Capital. Laurus Labs also agreed to co-invest an additional Rs 40 crore at the same valuation. The Promoters of Laurus Bio have also been issued share warrants, exercisable up to two years from the date of issue at the same valuation. Laurus Labs or Eight Roads Ventures have the right to invest up to an additional amount of Rs 35 crore before Dec 2025 at the same valuation. Upon completion of the transaction, the Company, Eight Roads Ventures and the Promoters of Laurus Bio will hold 75%, 14% and 9% stake respectively on a fully diluted basis. The Company will utilize the equity infusion for further expansion of its fermentation-based manufacturing capabilities in order to cater to growing customer demand. Powered by Capital Market - Live News

Net profit of Laurus Labs declined 46.31% to Rs 19.84 crore in the quarter ended September 2024 as against Rs 36.95 crore during the previous quarter ended September 2023. Sales declined 0.06% to Rs 1223.70 crore in the quarter ended September 2024 as against Rs 1224.45 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1223.701224.45 0 OPM %14.5715.34 - PBDT130.32147.26 -12 PBT22.8153.89 -58 NP19.8436.95 -46 Powered by Capital Market - Live News

Laurus Labs has fixed 06 November 2024 as record date for interim dividend of Rs 0.40 per share for FY 2024-25. Powered by Capital Market - Live News

Laurus Labs will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live News

Laurus Labs announced the inauguration of its state of the art new R&D center at IKP Knowledge Park, Plot No DS15, Kolthur Shamirpet Medchal Telangana. Key highlights:- Total investment incurred for setting up the new R&D Rs 250 crore - 2,00,000 Square foot facility equipped with modern laboratories and infrastructure- R&D Center to support the CDMO business of Laurus Labs- Will provide job opportunities to over 800 peoplePowered by Capital Market - Live News