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: 44 Neutral
• Price Target: ₹7.00 ▼(-38.22% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is primarily weighed down by deteriorating financial performance (declining revenue, persistent losses, and negative cash flows). Technicals add further pressure with a clear downtrend and negative momentum indicators, while valuation provides only limited support because the company is loss-making (negative P/E) and no dividend yield is available.

Positive Factors

Business model (API manufacturing)

Lasa's core B2B API manufacturing model provides durable, contract-driven revenue from pharmaceutical customers. Supplying bulk drugs and intermediates creates sticky, repeat demand and scale advantages for production know-how, supporting long-term cash generation if operational performance recovers.

Industry positioning

Operating in specialty and generic APIs exposes Lasa to structural secular demand: aging populations and generic substitution drive stable outsourcing of API production. This market structure supports long-term demand for contract API suppliers despite company-specific execution challenges.

Balance sheet leverage

Reported moderate leverage and a relatively strong equity ratio indicate financial flexibility versus highly indebted peers. Manageable debt levels reduce immediate solvency risk, providing runway to restructure operations or secure working capital while addressing profitability and cash flow shortfalls.

Negative Factors

Declining revenues

Sustained revenue decline materially erodes operating scale and pricing leverage. A near-term trend of shrinking top line and persistent losses reduces ability to invest in product development, retain customers, and absorb cost volatility, threatening long-term competitiveness unless growth reverses.

Negative cash flow

Negative operating and free cash flow constrain working capital and capital expenditure capacity, forcing reliance on external financing or asset sales. Over months this undermines operational continuity, limits investments to restore margins, and increases liquidity and refinancing risk.

Margin deterioration

Worsening gross and net margins and negative EBIT/EBITDA highlight structural cost or pricing problems. Persistently low margins weaken cash conversion and capital return potential, indicating the need for structural cost cuts, product-mix improvement, or pricing power restoration to achieve sustainable profitability.

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

Weak fundamentals: revenues have declined sharply, profitability has deteriorated with negative net/EBIT/EBITDA margins, and cash flow is negative. The balance sheet shows only moderate leverage and a relatively solid equity ratio, but persistent losses and cash burn dominate the risk profile.

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: Positive
• 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 8.01, above the 50-day MA of 9.04, and above the 200-day MA of 10.48, indicating a bearish trend. The MACD of -0.36 indicates Negative momentum. The RSI at 29.35 is Positive, neither overbought nor oversold. The STOCH value of 33.13 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	44 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.