Pharmaceuticals & Drugs · Founded 1989 · www.aurolabs.com · BSE 530233 · · ISIN INE292C01011
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Business
Auro Laboratories Ltd. is an Indian pharmaceutical company primarily engaged in the manufacturing and marketing of pharmaceutical products. Its core business model likely revolves around the production of Active Pharmaceutical Ingredients (APIs) and/or pharmaceutical formulations (finished dosage forms). The company generates revenue by selling these products to the domestic market, and potentially to international markets, catering to various therapeutic segments.
Revenue Mix
Without specific financial data, a detailed breakdown of revenue mix is not available. However, typical segments for a pharmaceutical company of this nature could include:
Active Pharmaceutical Ingredients (APIs): Supply of bulk drugs to other pharmaceutical manufacturers.
Formulations: Production and sale of finished dosage forms (e.g., tablets, capsules, liquids).
Domestic Sales vs. Exports: Revenue derived from sales within India versus sales to international markets.
Specific contributions from these segments are not provided.
Industry
The Indian Pharmaceuticals & Drugs sector is highly competitive and fragmented, characterized by a mix of large integrated players, mid-sized companies, and numerous smaller enterprises. It is a global hub for generic drug manufacturing, benefiting from cost-effective production and a skilled workforce. Auro Laboratories likely operates as a smaller to mid-sized player within this ecosystem, competing on factors such as product quality, manufacturing efficiency, regulatory compliance, and potentially a focus on niche therapeutic areas or specific API chemistries. Its positioning would be against a broad array of domestic and international competitors.
MOAT
For a company of its likely scale, Auro Laboratories may not possess a wide, deep moat. Potential competitive advantages could include:
Cost-Efficient Manufacturing: Ability to produce quality APIs or formulations at competitive prices, crucial in the generic market.
Niche Product Focus: Specialization in certain therapeutic segments or complex APIs that face less competition.
Regulatory Compliance & Approvals: Maintaining strong quality control and securing necessary regulatory approvals (e.g., cGMP, specific country approvals) can be a barrier to entry for some products.
Customer Relationships: Established relationships with domestic and/or international clients for contract manufacturing or product supply.
A broad brand recognition or significant scale advantage against larger peers is less likely to be a primary moat.
Growth Drivers
Key factors that can drive growth for Auro Laboratories over the next 3-5 years include:
Increasing Healthcare Expenditure: Growing population, rising income levels, and improved access to healthcare in India and emerging markets.
Generic Drug Demand: Continued global demand for affordable generic medicines as patent expirations increase.
New Product Launches: Introduction of new APIs or formulations, especially those with limited competition or high demand.
Market Expansion: Entry into new domestic geographies or securing new export opportunities.
Capacity Expansion/Technological Upgrades: Investments in manufacturing capabilities to meet growing demand or improve efficiency.
Risks
Auro Laboratories faces several key business risks:
Intense Competition & Price Erosion: The highly competitive generic market can lead to pricing pressures and margin erosion.
Regulatory Risks: Strict and evolving regulatory landscape in India and international markets, including potential for inspections, non-compliance issues, and product recalls.
Raw Material Volatility: Dependence on raw material suppliers and fluctuations in their prices and availability.
Currency Fluctuations: Exposure to foreign exchange rate volatility, especially if significant export revenues or imported raw materials are involved.
Quality Control & Litigation: Risk of product quality issues, batch recalls, or litigation related to intellectual property or product liability.
Technological Obsolescence: Failure to keep pace with advancements in manufacturing processes or drug development.
Management & Ownership
Auro Laboratories is likely a promoter-driven company, typical for many Indian businesses. Information regarding the specific promoters, detailed management quality assessment, or precise ownership structure (e.g., promoter holding, institutional vs. public) is not provided in the prompt. Generally, in promoter-led firms, the vision and execution capabilities of the founding family or core group significantly influence the company's trajectory.
Outlook
Auro Laboratories operates in a fundamentally growing pharmaceutical market driven by demographic trends and increasing healthcare needs. The company's outlook depends on its ability to navigate the intensely competitive and highly regulated landscape. Opportunities exist through focused product development, efficient manufacturing, and expanding its domestic and international market reach, particularly in generic and API segments. However, it will face ongoing challenges from larger, more diversified players, continuous pricing pressure, and the need for stringent quality control and regulatory compliance. Sustained profitability will require strategic investments in R&D or niche capabilities, operational efficiencies, and prudent financial management to mitigate inherent industry risks.
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 18 | 12 | 6 | 3 | 3 | 7 | 3 | 9 | 9 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Total Income | 0 | 18 | 12 | 6 | 3 | 3 | 8 | 3 | 10 | 10 |
| Total Expenditure | 0 | 14 | 10 | 4 | 2 | 3 | 7 | 3 | 6 | 5 |
| Operating Profit | 0 | 5 | 3 | 2 | 1 | 1 | 1 | 0 | 3 | 4 |
| Interest | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 4 | 3 | 1 | 0 | 0 | 0 | -0 | 2 | 2 |
| Provision for Tax | 0 | 1 | 1 | 0 | 0 | 0 | -0 | 0 | 1 | -0 |
| Profit After Tax | 0 | 3 | 2 | 1 | 0 | 0 | 0 | -0 | 1 | 2 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 3 | 2 | 1 | 0 | 0 | 0 | -0 | 1 | 2 |
| Adjusted Earnings Per Share | 0 | 4.4 | 3.7 | 1.2 | 0.6 | 0.1 | 0.6 | -0.2 | 1.1 | 3.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 33 | 28 | 35 | 41 | 47 | 44 | 54 | 51 | 53 | 54 | 19 | 28 |
| Other Income | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
| Total Income | 33 | 28 | 36 | 41 | 48 | 45 | 55 | 52 | 54 | 55 | 20 | 31 |
| Total Expenditure | 30 | 25 | 31 | 34 | 40 | 38 | 43 | 46 | 49 | 43 | 16 | 21 |
| Operating Profit | 3 | 3 | 5 | 7 | 8 | 7 | 12 | 6 | 5 | 12 | 4 | 8 |
| Interest | 2 | 2 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 1 | 3 | 5 | 6 | 6 | 11 | 4 | 3 | 10 | 2 | 4 |
| Provision for Tax | 0 | 0 | 2 | 1 | 2 | 2 | 3 | 1 | 1 | 3 | 0 | 1 |
| Profit After Tax | 1 | 1 | 1 | 4 | 4 | 4 | 7 | 3 | 2 | 8 | 2 | 3 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 1 | 1 | 4 | 4 | 4 | 7 | 3 | 2 | 8 | 2 | 3 |
| Adjusted Earnings Per Share | 1.3 | 1.4 | 1.3 | 5.7 | 7.1 | 6.5 | 11.5 | 4.6 | 3.9 | 12.5 | 3 | 4.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -65% | -28% | -15% | -5% |
| Operating Profit CAGR | -67% | -13% | -11% | 3% |
| PAT CAGR | -75% | -13% | -13% | 7% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 8% | 48% | 21% | 29% |
| ROE Average | 4% | 11% | 14% | 17% |
| ROCE Average | 4% | 11% | 17% | 19% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 8 | 9 | 9 | 13 | 17 | 21 | 29 | 32 | 34 | 42 | 43 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 8 | 7 | 10 | 6 | 5 | 3 | 2 | 2 | 2 | 18 | 33 |
| Other Non-Current Liabilities | 0 | 0 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 1 | 1 |
| Total Current Liabilities | 14 | 10 | 6 | 10 | 10 | 6 | 9 | 20 | 18 | 24 | 22 |
| Total Liabilities | 29 | 26 | 27 | 30 | 33 | 32 | 42 | 55 | 56 | 86 | 99 |
| Fixed Assets | 10 | 9 | 13 | 13 | 15 | 14 | 14 | 14 | 13 | 22 | 21 |
| Other Non-Current Assets | 1 | 4 | 0 | 2 | 0 | 0 | 0 | 4 | 8 | 33 | 57 |
| Total Current Assets | 18 | 12 | 14 | 16 | 19 | 18 | 28 | 37 | 36 | 31 | 22 |
| Total Assets | 29 | 26 | 27 | 30 | 33 | 32 | 42 | 55 | 56 | 86 | 99 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 0 | 1 | 1 | 2 | 4 | 6 | 15 | 12 | 2 | 2 |
| Cash Flow from Operating Activities | -1 | 8 | 6 | 5 | 7 | 9 | 13 | -7 | 3 | 19 | 6 |
| Cash Flow from Investing Activities | -1 | -2 | -2 | -2 | -3 | -2 | -4 | -5 | -5 | -39 | -24 |
| Cash Flow from Financing Activities | 1 | -5 | -4 | -2 | -2 | -6 | -0 | 10 | -8 | 19 | 18 |
| Net Cash Inflow / Outflow | -1 | 0 | 0 | 1 | 2 | 2 | 9 | -2 | -10 | -1 | -1 |
| Closing Cash & Cash Equivalent | 0 | 1 | 1 | 2 | 4 | 6 | 15 | 12 | 2 | 2 | 1 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.29 | 1.42 | 1.31 | 5.66 | 7.06 | 6.51 | 11.52 | 4.56 | 3.92 | 12.5 | 2.95 |
| CEPS(Rs) | 2.44 | 2.51 | 2.69 | 7.16 | 8.68 | 8.15 | 13.18 | 6.2 | 5.64 | 14.26 | 4.71 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 12.36 | 13.78 | 15.1 | 20.82 | 27.94 | 34.49 | 45.86 | 50.58 | 54.87 | 67.32 | 68.94 |
| Core EBITDA Margin(%) | 8.58 | 9.52 | 11.97 | 15.59 | 14.94 | 14.32 | 20.72 | 9.09 | 8.3 | 19.89 | 17.55 |
| EBIT Margin(%) | 7.2 | 8.62 | 11.08 | 14.56 | 14.83 | 14.2 | 20.21 | 9.24 | 8.05 | 20.66 | 15.28 |
| Pre Tax Margin(%) | 2.35 | 2.99 | 7.9 | 11.59 | 12.96 | 12.88 | 19.36 | 7.62 | 6.51 | 19.29 | 9.7 |
| PAT Margin (%) | 2.35 | 2.99 | 2.2 | 8.65 | 9.4 | 9.26 | 13.23 | 5.59 | 4.62 | 14.53 | 9.48 |
| Cash Profit Margin (%) | 4.44 | 5.31 | 4.54 | 10.93 | 11.55 | 11.6 | 15.14 | 7.59 | 6.65 | 16.56 | 15.13 |
| ROA(%) | 2.89 | 3.24 | 3.11 | 12.34 | 13.78 | 12.32 | 19.34 | 5.87 | 4.4 | 11 | 1.99 |
| ROE(%) | 11.01 | 10.83 | 9.06 | 31.53 | 28.95 | 20.84 | 28.67 | 9.47 | 7.43 | 20.46 | 4.33 |
| ROCE(%) | 10.76 | 11.21 | 20.24 | 28.65 | 29.12 | 24.8 | 38.88 | 12.2 | 9.92 | 20.37 | 3.79 |
| Receivable days | 68.35 | 83.84 | 62.81 | 71.86 | 65.79 | 59.53 | 44 | 75.03 | 89.77 | 87.78 | 214.37 |
| Inventory Days | 71.45 | 61.3 | 27.79 | 12.6 | 18.96 | 30.99 | 22.23 | 24.4 | 55.24 | 68.04 | 112.03 |
| Payable days | 62.19 | 71.34 | 69.27 | 75.51 | 66.85 | 73.97 | 67.05 | 59.08 | 83.56 | 121.53 | 246.16 |
| PER(x) | 5.6 | 14.17 | 31.73 | 15.21 | 8.42 | 4.83 | 7.04 | 21.98 | 13.95 | 12.89 | 78.15 |
| Price/Book(x) | 0.58 | 1.46 | 2.75 | 4.14 | 2.13 | 0.91 | 1.77 | 1.98 | 1 | 2.39 | 3.34 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.63 | 0.88 | 0.98 | 1.49 | 0.88 | 0.39 | 0.72 | 1.26 | 0.72 | 2.33 | 9.7 |
| EV/Core EBITDA(x) | 6.44 | 7.63 | 7 | 8.82 | 5.16 | 2.36 | 3.26 | 11.18 | 7.13 | 10.27 | 46.33 |
| Net Sales Growth(%) | -3.25 | -14.49 | 27.08 | 14.99 | 14.78 | -6.48 | 23.89 | -6.24 | 3.99 | 1.4 | -63.83 |
| EBIT Growth(%) | 17.09 | 3.07 | 61.39 | 44.92 | 16.86 | -10.41 | 76.27 | -57.13 | -9.37 | 160.13 | -73.26 |
| PAT Growth(%) | 38.83 | 9.71 | -7.56 | 332.97 | 24.65 | -7.84 | 77.08 | -60.38 | -14.15 | 219.09 | -76.4 |
| EPS Growth(%) | 38.83 | 9.72 | -7.56 | 332.97 | 24.65 | -7.84 | 77.08 | -60.38 | -14.15 | 219.09 | -76.4 |
| Debt/Equity(x) | 2.13 | 1.47 | 1.05 | 0.71 | 0.46 | 0.15 | 0.11 | 0.44 | 0.19 | 0.63 | 1.05 |
| Current Ratio(x) | 1.29 | 1.26 | 2.26 | 1.64 | 1.87 | 2.93 | 3.03 | 1.86 | 1.97 | 1.29 | 0.99 |
| Quick Ratio(x) | 0.88 | 0.82 | 2.04 | 1.49 | 1.53 | 2.26 | 2.75 | 1.64 | 1.32 | 0.94 | 0.82 |
| Interest Cover(x) | 1.48 | 1.53 | 3.49 | 4.9 | 7.95 | 10.76 | 23.92 | 5.69 | 5.23 | 15.06 | 2.74 |
| Total Debt/Mcap(x) | 3.65 | 1.01 | 0.38 | 0.17 | 0.22 | 0.16 | 0.06 | 0.22 | 0.19 | 0.26 | 0.31 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 52.09 | 52.15 | 52.15 | 52.15 | 52.15 | 52.18 | 52.18 | 52.18 | 52.18 | 52.18 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 47.9 | 47.84 | 47.84 | 47.84 | 47.84 | 47.82 | 47.82 | 47.82 | 47.82 | 47.82 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.32 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -65% | -28% | -15% | -5% |
| Operating Profit CAGR | -67% | -13% | -11% | +3% |
| PAT CAGR | -75% | -13% | -13% | +7% |
| Share Price CAGR | +8% | +48% | +21% | +29% |
| ROE Average | +4% | +11% | +14% | +17% |
| ROCE Average | +4% | +11% | +17% | +19% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 52.09 | 52.15 | 52.15 | 52.15 | 52.15 | 52.18 | 52.18 | 52.18 | 52.18 | 52.18 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 47.91 | 47.85 | 47.85 | 47.85 | 47.85 | 47.82 | 47.82 | 47.82 | 47.82 | 47.82 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.32 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 |
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