Dr. Reddy's Laboratories Ltd.

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drreddys.comBSE: 500124NSE: DRREDDY

Market Cap₹ 95,421 Cr.

Current Price

High / Low₹ 1,415 / 1,101

Stock P/E29.6

Book Value₹ 457

Price to Book2.78

Dividend Yield0.70 %

ROCE13.8 %

ROE11.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Global Generics: 87.0% • PSAI: 12.4% • Others: 0.6%

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 21.3%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.96x)
Company comfortably covers its interest (15.4x coverage)
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 46.9% versus prior year
A large part of profit comes from other income (25.2% of PBT)
Total debt has risen sharply - up 65.4% year on year
Valuation is stretched - P/E of 29.6 is well above its own 5-year median (10.3)
Operating margins have contracted to 19.1% from 25.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY 50 NIFTY100 EQL WGT NIFTY50 EQL WGT NIFTY PHARMA NIFTY100 QUALTY30

S.No.	Name
1.	SUNPHARMA	1868.50	37.06	448315.74	0.86	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9482.75	86.06	251737.22	0.32	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4931.90	86.01	187593.62	0.77	566.00	3.28	4921.00	57.32	19.27	33.81
4.	ZYDUSLIFE	1129.00	24.95	112618.18	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
5.	CIPLA	1368.00	32.79	110515.04	0.95	785.55	-39.18	7119.28	4.13	16.00	16.73
6.	LAURUSLABS	1933.25	95.54	104455.86	0.10	362.07	123.94	2026.31	29.10	18.20	31.50
7.	AUROPHARMA	1690.00	26.19	97238.86	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
8.	LUPIN	2092.00	17.30	95660.02	0.86	1416.98	16.01	8276.89	34.28	28.86	29.59
9.	DRREDDY	1143.20	29.61	95420.61	0.70	435.60	-69.10	8099.80	-5.21	13.75	10.63
10.	MANKIND	2266.00	45.82	93596.02	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
11.	GLENMARK	2439.55	38.29	68850.12	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	BIOCON	395.00	129.97	64372.92	0.13	136.80	53.36	4336.00	10.89	3.26	19.54

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	6,738	6,735	6,965	7,083	7,673	7,886	7,996	8,506	8,545	8,639	8,420	7,516	8,100
	4,696	4,894	5,214	5,283	5,566	5,962	6,108	6,530	6,398	6,818	6,866	7,164	7,902
Operating Profit	2,043	1,840	1,751	1,800	2,106	1,924	1,888	1,976	2,147	1,820	1,554	352	198
OPM %	30.31%	27.33%	25.14%	25.42%	27.45%	24.40%	23.61%	23.22%	25.12%	21.07%	18.46%	4.69%	2.44%
	174	315	216	198	187	308	150	522	290	324	269	475	355
Interest	37	35	39	59	60	76	82	66	83	91	94	106	126
Depreciation	353	376	374	368	381	397	471	455	476	505	521	557	537
Profit before Tax	1,846	1,912	1,826	1,602	1,877	1,911	1,870	2,000	1,905	1,738	1,541	195	553
Tax %	24.11%	22.72%	24.54%	18.44%	26.12%	30.11%	25.14%	20.93%	25.99%	23.47%	22.95%	-11.07%	21.27%
Net Profit	0	0	0	0	1,392	1,342	1,404	1,587	1,410	1,337	1,190	221	436
	84.55	88.86	16.59	15.73	16.72	15.08	16.97	19.12	17.04	16.18	14.53	2.65	5.33

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	14,196	14,281	15,448	17,517	19,048	21,545	24,670	28,011	32,644	33,700	32,675
	11,724	11,930	12,270	15,047	15,178	17,778	18,321	20,078	24,097	27,247	28,750
Operating Profit	2,472	2,351	3,178	2,470	3,870	3,767	6,349	7,933	8,547	6,454	3,925
OPM %	17.41%	16.46%	20.57%	14.10%	20.32%	17.49%	25.74%	28.32%	26.18%	19.15%	12.01%
	172	155	338	621	291	485	1,056	894	1,097	1,358	1,423
Interest	63	79	89	98	97	96	143	171	283	374	416
Depreciation	1,027	1,077	1,135	1,163	1,229	1,165	1,250	1,470	1,704	2,059	2,119
Profit before Tax	1,554	1,350	2,336	1,886	2,884	3,061	6,048	7,201	7,680	5,393	4,028
Tax %	19.08%	32.43%	16.52%	-7.44%	32.32%	28.71%	25.48%	22.54%	25.45%	22.90%	21.29%
Net Profit	1,257	912	1,950	2,026	1,952	2,182	4,507	5,578	5,725	4,158	3,170
EPS	77.37	56.96	117.33	121.99	117.34	131.21	270.90	334.41	67.81	50.25	—
Dividend Payout %	25.66%	35.07%	17.03%	20.51%	21.32%	22.87%	14.78%	11.96%	11.80%	15.92%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 12%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: 17%
3 Years:: -2%

STOCK PRICE CAGR

10 Years:: 6%
5 Years:: 3%
3 Years:: 1%
1 Year:: -12%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 17%
3 Years:: 17%
Last Year:: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	83	83	83	83	83	83	83	83	83	84
Minority Interest	0	0	0	0	0	0	0	0	378	339
	12,099	12,406	13,861	15,412	17,432	18,986	23,057	28,040	33,322	37,659
	5,262	5,365	3,636	2,037	3,192	3,551	1,170	2,316	4,922	7,699
Trade Payables	1,057	1,334	1,367	1,525	1,811	2,266	2,268	2,614	2,648	3,038
	2,638	2,816	3,086	2,948	3,030	3,583	5,001	4,752	6,242	7,086
Total Liabilities	21,138	22,004	22,034	22,005	25,548	28,470	31,580	37,806	47,594	55,904
	6,931	6,968	7,191	6,850	8,206	8,122	9,219	10,426	18,226	22,063
Capital Work in Progress	610	768	472	436	954	1,280	975	1,351	2,399	1,460
	2,110	2,298	2,587	2,678	2,212	2,616	4,986	4,930	4,051	5,285
	2,853	2,909	3,358	3,507	4,541	5,088	4,867	6,355	7,108	7,653
	139	74	80	90	89	568	171	8,030	9,042	10,123
Cash & Bank	386	264	223	205	2,079	2,419	1,730	1,728	2,460	3,349
	8,110	8,723	8,123	8,239	7,468	8,377	9,631	4,986	4,307	5,971
Total Assets	21,138	22,004	22,034	22,005	25,548	28,470	31,580	37,806	47,594	55,904

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,721	2,079	3,354	3,695	4,142	3,555	6,959	4,543	4,643	5,674
Cash from Investing	-1,840	-1,488	-773	-492	-2,266	-2,639	-4,137	-4,028	-5,808	-6,549
Cash from Financing	-369	-444	-2,133	-2,516	-30	-242	-2,686	-376	1,891	829
	-65	-129	-35	-24	1,274	-70	-936	139	726	-47

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	26.65	26.64	26.64	26.64	26.64	26.64	26.64	26.63	26.64
	27.68	27.53	26.85	25.75	25.33	24.69	22.34	21.14	20.66
	20.72	21.48	22.89	25.63	26.73	27.99	30.44	30.72	31.75
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	10.36	10.13	10.38	10.44	10.26	9.86	9.71	9.57	9.55

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Dr. Reddy's Laboratories Limited has informed the Exchange about Allotment of Employee Stock options

2026-09-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-10 - Dr. Reddy's Laboratories Limited has informed the Exchange about Schedule of meet

2026-08-26

General Updates

2026-08-26 - Dr. Reddy's Laboratories Limited has informed the Exchange about Allotment of employee stock options

2026-08-20

Copy of Newspaper Publication

2026-08-20 - Dr. Reddy's Laboratories Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

General Updates

2026-08-14 - Dr. Reddy's Laboratories Limited has informed the Exchange about General Updates

2026-08-14

General Updates

2026-08-14 - Dr. Reddy's Laboratories Limited has informed the Exchange about General Updates

2026-08-13

Resignation of Director/KMP/SMP

2026-08-13 - Dr. Reddy's Laboratories Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-13

Change in Management

2026-08-13 - Dr. Reddy's Laboratories Limited has informed the Exchange about change in Management

2026-08-07

General Updates

2026-08-07 - Dr. Reddy's Laboratories Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for DRREDDY

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