About the Report
This Integrated Report presents a holistic view of Laurus’ performance for FY 2025-26, bringing together financial and non-financial disclosures to explain how we create and sustain value over time. It reflects the interplay between our purpose, strategy, governance, business model, risks and opportunities, and the operating context in which we deliver long-term stakeholder value.
Reporting Period and Boundary
This Report covers the period from April 1, 2025 to March 31, 2026. Financial information is presented on a consolidated basis. Non-financial and ESG disclosures cover the Company’s manufacturing and R&D locations within the defined reporting boundary.
Frameworks and Alignment
The Report has been prepared in accordance with applicable statutory requirements and with reference to globally recognised reporting frameworks and standards, including the Global Reporting Initiative (GRI) and Indian Accounting Standards (Ind AS). These alignments support consistency, transparency and comparability across disclosures.
Board Responsibility
The Board believes that this Report presents a fair, balanced and credible account of the Company’s financial, operational, governance and sustainability performance for FY 2025-26. The contents have been compiled by the relevant functions and reviewed under the oversight of senior management.
Assurance
Management has undertaken an internal review of the disclosures contained in this Report to support their accuracy, completeness and reliability, and to ensure that the information is presented in a balanced and transparent manner.
Feedback and Queries
We welcome stakeholder feedback on this Report. Suggestions, comments and queries may be shared at
secretarial@lauruslabs.comCapitals
Financial Capital
Intellectual Capital
Manufactured Capital
Human Capital
Social and Relationship Capital
Natural Capital
Stakeholders
Customers
Employees
Suppliers
Communities
Government / Regulatory Authorities
Investors
UN SDGs Impacted
Grounded in Values, Growing in Capability.
Twenty years ago, Laurus began with a clear belief: that science-led innovation, guided by strong values, can create enduring impact. Laurus strategy centres on being a research-driven manufacturing organisation.
Two decades on, that belief continues to shape every decision we make.
Our journey has been one of deliberate evolution. What began as a focused API platform has grown into an integrated platform to manufacture formulation by adopting latest technologies available globally. This transformation has been built through sustained investments in people, science and infrastructure, creating a stronger and more resilient foundation over time.
At the core of this progress is a deep commitment to values. Knowledge, Innovation, Excellence, Integrity and Care are not just words. They shape how we think, build and grow. One quality standard across markets. Respect for people and partnerships. Discipline in capital allocation. Together, these principles have helped us build credibility and long-term relationships in complex, high-value segments.
Today, Laurus is increasingly positioned at the intersection of chemistry, biology and emerging modalities. Our capabilities across CDMO, Affordable medicines and newer technologies are enabling us to participate more meaningfully in complex therapies and long-duration programmes, supported by a diversified pipeline. The same values-led approach also informs our ESG focus, strengthening our commitment to responsible growth and stakeholder trust.
As we mark this 20-year milestone, we do so with clarity and intent. We are defined not only by what we manufacture, but by how we innovate, partner and execute. Our focus remains on building depth, not just scale, and on creating long-term value.
and Beyond
For 20 years, we have been guided by a vision that has remained constant, even as it has strengthened over time. What began as a bold scientific aspiration has grown into an organisation of far greater scale and capability. Yet through every phase of transformation, the spirit at our core has remained the same: to build with purpose, think long-term and keep raising the bar.
Our rewarding journey has taken us from leadership in the ARV space to commercial supplies of multiple NCE APIs, while steadily deepening our investments in science and scale. Our progress has been shaped by a conscious choice to get better before getting bigger, an approach that has helped transform us into a fully integrated, research-driven manufacturing company. The road has also tested us at times, including through a few existential moments, but each phase has left us stronger and better prepared for what lies ahead.
Our Evolution – Transforming Laurus with Focus & Agility
| One Product(2006-10) | API Company(2011-15) | Formulation(2016-20) | Integrated(2021 till March, 2026) | ||
|---|---|---|---|---|---|
| Employees | 883 | 2,266 | 4,808 | 8,126 | |
| Scientists | 400+ | 500+ | 750+ | 1,540+ | |
| Manufacturing | # Sites | 1 (FDA approved) | 2 (2 FDA approved) | 9 (6 FDA approved) | 15* (7 FDA approved) |
| Reactor Volume (KL) | 220 | 1,870 | 4,638 | ~8,200 | |
| Oral Dosage (Bn) | – | 2 | 5 | 12+ | |
| Fermentation (KL) | – | – | 10 | 240+ | |
| API portfolio | 12 | 28 | 61 | 92 | |
| FDF portfolio | – | – | 50 | 94 | |
| CDMO | Pipeline Projects | – | <20 | 50 | 125+ |
| Audits | Regulatory1 | 3 (0 CF2) | 16 (0 CF) | 27 (0 CF) | 29 (0 CF) |
| Clients | 80 | 171 | 389 | 646 | |
Business Division
CDMO
Contract Development & Manufacturing Services
31% % to revenueAffordable medicines
FDF and API
69% % to revenue* Developed market ( US/EU/Canada ) * Includes 3 US FDA approvable sites
2 Inspections from key 6 global regulators USFDA / WHO / PMDA / ANVISA / TGA / One of the European agencies
3 CF – Critical Findings