Shares of Laurus Labs Ltd. opened lower on Friday, October 24, even after the company's September quarter results came in above analyst expectations on most parameters.

During the post-earnings conference call, the management guided for antiretroviral (ARV) sales of around ₹2,500 crore, with a possible variation of ±₹200 crore.

Gross margins are expected to remain around 60%, higher than the earlier guided range of 50-55%. The company also aims to improve its asset turnover ratio from the current 0.9 times to 1.1 times.

Management further indicated that margins are likely to improve as the business mix shifts towards small- and large-molecule contract development and manufacturing (CDMO) segments.

Among brokerages, Jefferies has maintained an 'Underperform' rating on Laurus Labs but ra

See Full Page