Lasa Supergenerics Ltd. (LASA) AI Stock Analysis

• Market Cap: ₹365.24M
• Dividend Yield: N/A
• Average Volume (3M): 39.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.03
• Revenue Growth: -20.40%
• EPS Growth: -59.20%
• Country: IN
• Employees: 77
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.51
• Shares Outstanding: 50,101,240
• 10 Day Avg. Volume: 9,122
• 30 Day Avg. Volume: 39,131
• PEG Ratio: 0.19
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -32.03
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: ₹7.00 ▼(-38.22% Downside)
• Action: Reiterated Date: 11/15/25
• Date: Action: Reiterated 11/15/25

The overall stock score is primarily impacted by the company's financial distress, characterized by declining revenues and negative cash flows. Technical indicators further reflect a bearish trend, and poor valuation metrics underscore the company's challenges.

Positive Factors

B2B API manufacturing model

Lasa's core business supplies active pharmaceutical ingredients and intermediates directly to finished-dosage manufacturers. This B2B model creates durable, contractable demand from pharma customers across therapeutic areas, supporting predictable unit volumes and long-term supplier relationships.

Manageable leverage / equity-financed balance sheet

The balance sheet's moderate leverage and relatively strong equity ratio give the company room to withstand cyclical pressures. Lower debt burden supports financing flexibility for working capital or capex, reducing near-term default risk and enabling strategic investments during a recovery period.

Lean operational footprint

A small, focused workforce implies a lean cost base and operational agility. Lower fixed labor overhead can help the business adjust capacity and control cash burn, making it easier to scale operations or reallocate resources as product mix and customer demand evolve.

Negative Factors

Steep revenue decline

Nearly 50% revenue decline signals loss of scale and weaker market traction. Persistent top-line contraction undermines economies of scale, reduces negotiating leverage with suppliers and customers, and constrains reinvestment in R&D, quality systems, or capacity needed to regain competitiveness over months.

Negative operating and free cash flow

Sustained negative operating and free cash flow erode liquidity and force reliance on external financing or asset sales. Over a multi-month horizon this limits ability to fund working capital, maintain GMP investments, or pursue customer contracts that require upfront spend, increasing execution risk.

Deteriorating margins and persistent losses

Worsening gross and net margins indicate structural pricing pressure or cost increases that the company can't pass through. Persistent negative EBIT/EBITDA reduces internal capital for product development and quality assurance, harming competitiveness and raising long-term viability concerns if trends persist.

Lasa Supergenerics Ltd. Business Overview & Revenue Model

Company Description

Lasa Supergenerics Limited engages in the research, manufacture, and marketing of animal and human healthcare products primarily in India. It offers veterinary and other API products, anthelmintic products, animal feed ingredients, and reagents for therapeutic use. The company also exports its products. Lasa Supergenerics Limited was incorporated in 2016 and is based in Mumbai, India.

How the Company Makes Money

LASA primarily makes money by manufacturing and selling active pharmaceutical ingredients (APIs) and related chemical products. Its core revenue stream is B2B sales of bulk drugs/APIs to pharmaceutical companies that formulate and market finished-dosage medicines. Revenue is generated per unit/volume of APIs supplied, with earnings influenced by product mix (higher-value/specialty vs. commoditized APIs), customer concentration, pricing linked to competitive supply dynamics, and raw-material/input cost pass-through where contract terms allow. Additional revenue may come from sales of intermediates or other chemical products associated with its API manufacturing operations; however, a precise breakdown by segment and details of specific partnerships/contracts are null.

Lasa Supergenerics Ltd. Financial Statement Overview

Summary

Lasa Supergenerics Ltd. is experiencing financial distress, with declining revenues, persistent losses, and negative cash flows. The balance sheet shows manageable leverage but the inability to generate profits and positive cash flows poses significant risks.

Income Statement

Lasa Supergenerics Ltd. has faced declining revenues over the past years, with a negative revenue growth rate of approximately -30% from 2021 to 2025. The company's gross profit margin has also deteriorated significantly, indicating shrinking profitability. Furthermore, the net profit margin remains negative, which highlights persistent losses. The EBIT and EBITDA margins show negative trends, further stressing operational inefficiencies.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio, which suggests manageable leverage levels. However, the return on equity has been negative, reflecting the company's inability to generate profits from shareholder equity. The equity ratio remains relatively strong, suggesting a good proportion of assets financed by equity, though the overall financial health is challenged by persistent losses.

Cash Flow

Lasa's cash flow situation is concerning, with a negative free cash flow growth rate and negative operating cash flow in the latest period. The operating cash flow to net income ratio is negative, indicating cash flow issues in relation to net income. While the free cash flow to net income ratio is also negative, it highlights cash flow challenges that could impact future operations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	952.90M	1.42B	1.04B	1.30B	1.37B	2.02B
Gross Profit	212.29M	362.61M	286.95M	-111.88M	427.84M	886.86M
EBITDA	-319.14M	-43.91M	-64.66M	-246.85M	84.12M	469.92M
Net Income	-361.69M	-147.57M	-217.31M	-386.21M	-53.31M	227.78M
Balance Sheet
Total Assets	716.03M	1.02B	1.51B	1.64B	2.09B	2.08B
Cash, Cash Equivalents and Short-Term Investments	6.96M	7.90M	14.96M	21.78M	172.17M	44.00M
Total Debt	73.38M	21.27M	220.76M	217.70M	201.71M	194.63M
Total Liabilities	152.61M	178.19M	541.92M	455.69M	512.87M	489.43M
Stockholders Equity	563.42M	837.13M	966.76M	1.18B	1.58B	1.59B
Cash Flow
Free Cash Flow	-899.00K	-28.24M	21.39M	-173.00M	92.12M	347.24M
Operating Cash Flow	2.59M	-28.24M	21.39M	-173.00M	92.12M	413.10M
Investing Cash Flow	-1.00M	81.52M	-3.98M	111.95M	-29.12M	-35.97M
Financing Cash Flow	-1.46M	-56.62M	-19.32M	-41.61M	-403.00K	-364.43M

Lasa Supergenerics Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.33
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:LASA, the sentiment is Negative. The current price of 11.33 is above the 20-day moving average (MA) of 8.08, above the 50-day MA of 9.08, and above the 200-day MA of 10.53, indicating a bearish trend. The MACD of -0.33 indicates Negative momentum. The RSI at 35.90 is Neutral, neither overbought nor oversold. The STOCH value of 46.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:LASA.

Lasa Supergenerics Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIOFILCHEM	63 Neutral	₹499.61M	172.45	―	―	36.76%	433.63%
BALAXI	62 Neutral	₹1.03B	111.96	―	―	―	―
BALPHARMA	58 Neutral	₹1.09B	16.40	―	1.62%	-9.07%	5.36%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AAREYDRUGS	48 Neutral	₹1.84B	84.53	―	―	-17.47%	-50.07%
LASA	43 Neutral	₹365.24M	-4.63	―	―	-20.40%	-59.20%

Lasa Supergenerics Ltd. Corporate Events

Exchange Seeks Clarification From Lasa Supergenerics on Q3 FY2025 Results

The stock exchange has requested clarification from Lasa Supergenerics Ltd. regarding its financial results for the quarter ended Dec. 31, 2025, under Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements. The company has yet to respond, leaving investors and other stakeholders awaiting further details on its quarterly disclosures and compliance posture.