Dr. Reddy's Laboratories Ltd.

•

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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Dr. Reddy's Laboratories Ltd.

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Name

SUNPHARMA

1868.50

37.06

448315.74

0.86

2901.23

26.53

15299.88

10.98

19.11

28.81

DIVISLAB

9482.75

86.06

251737.22

0.32

902.00

65.50

3080.00

27.80

21.51

40.75

TORNTPHARM

4931.90

86.01

187593.62

0.77

566.00

3.28

4921.00

57.32

19.27

33.81

ZYDUSLIFE

1129.00

24.95

112618.18

0.09

990.20

-34.90

8017.00

23.97

21.39

24.54

CIPLA

1368.00

32.79

110515.04

0.95

785.55

-39.18

7119.28

4.13

16.00

16.73

LAURUSLABS

1933.25

95.54

104455.86

0.10

362.07

123.94

2026.31

29.10

18.20

31.50

AUROPHARMA

1690.00

26.19

97238.86

0.24

1032.03

25.22

9150.35

17.44

12.76

20.54

LUPIN

2092.00

17.30

95660.02

0.86

1416.98

16.01

8276.89

34.28

28.86

29.59

DRREDDY

1143.20

29.61

95420.61

0.70

435.60

-69.10

8099.80

-5.21

13.75

10.63

MANKIND

2266.00

45.82

93596.02

0.04

574.09

29.12

4030.59

12.89

13.24

26.30

GLENMARK

2439.55

38.29

68850.12

0.10

482.83

927.88

4018.48

31.35

20.35

20.03

BIOCON

395.00

129.97

64372.92

0.13

136.80

53.36

4336.00

10.89

3.26

19.54

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

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

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

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

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%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

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

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

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

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

26.65

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

10.36

10.13

10.38

10.44

10.26

9.86

9.71

9.57

9.55

Dr. Reddy's Laboratories Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Dr. Reddy's Laboratories Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI