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Dr Reddys Laboratories

DRREDDY NSE
₹1,374.00 +5.70 (+0.42%)
P/E
35.59
View as Markdown
MCP
Close 4 Nov 2026 ₹1,374.00 +168.80 +14.0% 1Y
Start ₹1,205.20

Key Fundamentals

LargecapPharmaceuticals & BiotechnologyHealthcare

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
13.00%
Debt to Equity
0.20
EPS (TTM)
₹38.61
Book Value
₹464.93
Market Cap
—
P/E (TTM)
35.59
P/B
2.96
ROE
11.20%
Dividend Yield
0.58%
EBITDA
₹7,812 Cr
52W High
₹1,414.90
52W Low
₹1,101.00
Day Range
₹1,359.80 – ₹1,376.70
Volume
18,28,860

Peer Comparison

Healthcare › Pharmaceuticals

Dr Reddys Laboratories peer comparison
Sun Pharma
₹1,773.4038.81₹4,29,049 Cr4.770.90%16.00%20.50%₹61,631 Cr₹10,987 Cr
Divis Laboratories
₹10,037.5091.10₹2,65,269 Cr15.900.30%16.50%22.00%₹11,230 Cr₹2,925 Cr
Torrent Pharmaceuticals
₹4,738.5078.61₹1,77,061 Cr9.810.82%27.40%15.20%₹17,400 Cr₹2,099 Cr
Zydus Life Science
₹1,188.1026.44₹1,25,446 Cr4.370.08%21.20%21.10%₹28,592 Cr₹4,593 Cr
Laurus Labs
₹2,323.80114.81₹1,25,228 Cr20.720.04%18.30%17.80%₹7,270 Cr₹1,090 Cr
Dr Reddys Laboratories (this company)
₹1,374.0035.59₹1,14,543 Cr2.960.58%11.20%13.00%₹33,228 Cr₹3,184 Cr
Cipla
₹1,402.0033.59₹1,12,454 Cr3.200.93%11.60%15.50%₹28,324 Cr₹3,356 Cr
Median 7 companies₹1,773.4038.81₹1,25,446 Cr4.770.58%16.50%17.80%₹28,324 Cr₹3,184 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

46 Average

Data confidence 100/100

Category scores

Quality
51
Average
Returns, margins, earnings quality 22% weight
Valuation
74
Strong
Cheap vs sector & own history 24% weight
Growth
5
Poor
Sales & profit trajectory 9% weight
Financial Health
43
Weak
Solvency, leverage, coverage 9% weight
Momentum
29
Poor
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company's working capital requirements have reduced from 85.1 days to 67.8 days

Weaknesses

1
  • Dividend payout has been low at 13.2% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish4213
OscillatorsBearish423
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
75.77
Bearish
MACD (12,26,9)
43.01
Bullish
SMA (50)
1,217.16
Bullish
SMA (200)
1,247.54
Bullish

As of

Analyst Rating

Based on 36 analysts
BUY58%

21 of 36 analysts rate Buy, 8 Hold, 7 Sell.

As of

BUY
21
58%
HOLD
8
22%
SELL
7
19%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+8.03%
5Y+12.09%
3Y+10.96%
1Y+3.23%
TTM−0.87%

Net profit

Net profit growth by window
10Y+6.91%
5Y+16.33%
3Y−2.65%
1Y−27.37%
TTM−44.56%

Operating cash flow

Operating cash flow growth by window
10Y+5.69%
5Y+9.71%
3Y−1.23%
1Y+22.21%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−3.88 pp
5Y−1.19 pp
3Y−7.08 pp
1Y−7.03 pp
TTM−9.95 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹14,196 Cr
Mar 2018₹14,281 Cr
Mar 2019₹15,448 Cr
Mar 2020₹17,517 Cr
Mar 2021₹19,048 Cr
Mar 2022₹21,545 Cr
Mar 2023₹24,670 Cr
Mar 2024₹28,011 Cr
Mar 2025₹32,644 Cr
Mar 2026₹33,700 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1,292 Cr
Mar 2018₹947 Cr
Mar 2019₹1,950 Cr
Mar 2020₹2,026 Cr
Mar 2021₹1,952 Cr
Mar 2022₹2,182 Cr
Mar 2023₹4,507 Cr
Mar 2024₹5,578 Cr
Mar 2025₹5,725 Cr
Mar 2026₹4,158 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹1,736 Cr −6.3% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Dr Reddy's Laboratories trades at ₹1,342 as of 2026-11-02 with a market cap of ₹1,13,183 crore and a P/E (TTM) of 34.76x. The company has delivered solid long-term sales growth of 8% over 10 years but faces a sharp TTM profit decline of -43%, while maintaining a conservative balance sheet with a debt-to-equity ratio of 0.20.

Bull Case 7
  • Strong long-term revenue trajectory with 10-year compounded sales growth of 8% and 5-year compounded sales growth of 12%, indicating consistent top-line expansion
  • Conservative balance sheet with a debt-to-equity ratio of just 0.20, providing financial flexibility for R&D investments and acquisitions
  • Healthy 5-year compounded profit growth of 15%, demonstrating the ability to convert revenue growth into earnings over a medium-term horizon
  • Consistent return ratios with 5-year average ROE of 16% and 3-year average ROE of 16%, reflecting efficient capital deployment over extended periods
  • Improved working capital efficiency with requirements reducing from 85.1 days to 67.8 days, freeing up cash for operations and growth initiatives
  • Stock trading within its 52-week range of ₹1,101–₹1,415, currently at ₹1,342, roughly 5% below its 52-week high, suggesting relative price stability
  • ROCE of 13.94% as of 2026-11-02 indicates the company continues to generate returns above typical cost-of-capital benchmarks in the Indian pharmaceutical sector
Bear Case 8
  • TTM profit has declined sharply at -43%, signalling a significant earnings contraction in the most recent period
  • TTM sales growth has turned negative at -1%, suggesting near-term revenue momentum has stalled after years of expansion
  • P/E (TTM) of 34.76x appears elevated relative to the current earnings decline trajectory, implying the market may be pricing in a recovery that is not yet visible in reported numbers
  • 3-year compounded profit growth is negative at -4%, indicating that the earnings weakness is not just a one-quarter phenomenon but a multi-year trend
  • Dividend payout has been low at 13.2% of profits over the last 3 years, with a current dividend yield of only 0.59%, offering limited income to shareholders
  • Last year ROE dropped to 11% from the 5-year average of 16%, a meaningful deterioration in return efficiency that aligns with the profit decline
  • Stock CAGR of just 3% over 3 years and 4% over 5 years has significantly underperformed the broader Indian equity market over comparable periods
  • Price-to-book ratio of 2.89x combined with a declining ROE of 10.87% suggests the valuation premium may not be fully supported by current profitability levels

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Dr Reddy's is expanding its oncology portfolio with a new DCGI approval for Zytorvi in esophageal cancer, signaling continued pipeline momentum. No material headwinds surfaced in the recent news cycle. The upcoming Q2FY27 earnings on Oct 23 will be the next key catalyst to watch for clarity on financial trajectory.

Positives 1
  • DCGI nod for Zytorvi oncology Oct 21

    Dr Reddy's received DCGI approval for Zytorvi (toripalimab) in advanced esophageal squamous cell carcinoma, marking the drug's second approved indication in India.

Neutral 1
  • Q2FY27 earnings call Oct 23 Oct 7

    Dr Reddy's will release Q2FY27 results on October 23, 2026, with an earnings call scheduled at 7:30 pm IST.

Quarterly Results

₹ Cr
DRREDDY quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
6,758
6,903
7,237
7,114
7,696
8,038
8,381
8,528
8,572
8,828
8,753
7,546
8,100
8,698
Expenses
4,696
4,894
5,214
5,283
5,566
5,962
6,108
6,530
6,398
6,818
6,866
7,164
7,240
6,967
Operating Profit
2,062
2,008
2,023
1,831
2,130
2,076
2,273
1,998
2,174
2,010
1,888
382
860
—
OPM %
31%
29%
28%
26%
28%
26%
27%
23%
25%
23%
22%
5%
11%
—
Other Income
174
315
216
198
187
308
150
522
290
324
271
480
356
—
Interest
37
35
39
59
60
76
82
66
83
91
94
106
126
125
Depreciation
353
376
374
368
381
397
471
455
476
505
521
557
537
527
PBT
1,846
1,913
1,826
1,602
1,877
1,911
1,870
2,000
1,905
1,739
1,543
200
553
1,228
Tax %
24%
23%
24%
18%
26%
30%
25%
21%
26%
23%
23%
−11%
21%
26%
Net Profit
1,405
1,482
1,381
1,310
1,392
1,342
1,404
1,587
1,410
1,337
1,190
221
436
913
EPS (₹)
16.87
17.77
16.56
15.7
16.69
15.05
16.94
19.09
16.99
16.14
14.5
2.65
5.32
—

Sep 2026: from the results filed on 23 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
DRREDDY profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
15,023
15,568
14,196
14,281
15,448
17,517
19,048
21,545
24,670
28,011
32,644
33,700
33,228
Expenses
11,515
11,983
11,724
11,930
12,270
15,040
15,173
17,778
18,200
20,078
24,097
27,247
28,088
Operating Profit
3,508
3,585
2,472
2,351
3,178
2,477
3,874
3,768
6,470
7,933
8,547
6,454
5,140
OPM %
23%
23%
17%
16%
21%
14%
20%
17%
26%
28%
26%
19%
15%
Other Income
260
295
172
155
381
670
335
555
971
909
1,097
1,358
1,437
Interest
108
83
63
79
89
98
97
96
143
171
283
374
416
Depreciation
760
939
1,027
1,077
1,135
1,163
1,229
1,165
1,250
1,470
1,704
2,059
2,119
PBT
2,900
2,859
1,554
1,350
2,336
1,886
2,884
3,061
6,048
7,201
7,658
5,379
4,041
Tax %
19%
26%
19%
32%
17%
−7%
32%
29%
25%
23%
25%
23%
—
Net Profit
2,336
2,131
1,292
947
1,950
2,026
1,952
2,182
4,507
5,578
5,725
4,158
3,183
EPS (₹)
27.43
24.98
15.59
11.41
23.49
24.38
23.47
26.23
54.14
66.87
67.77
50.27
38.61
Div. Payout %
15%
16%
26%
35%
17%
21%
21%
23%
15%
12%
12%
16%
—

Balance Sheet

₹ Cr
DRREDDY balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
85
85
83
83
83
83
83
83
83
83
83
84
Reserves
9,768
12,484
12,179
12,489
13,941
15,516
17,558
19,129
23,203
28,171
33,466
37,808
Borrowings
4,314
3,352
4,918
5,071
3,838
2,210
3,031
3,384
1,347
2,002
4,677
7,734
Other Liabilities
4,290
4,408
4,474
4,706
4,557
5,414
5,915
7,149
7,576
8,523
9,797
10,951
Total Liabilities
18,457
20,330
21,654
22,349
22,418
23,223
26,588
29,746
32,209
38,780
48,023
56,577
Fixed Assets
5,377
6,563
6,931
6,968
7,191
6,850
8,206
8,122
9,219
10,426
18,226
22,063
CWIP
529
772
3,324
3,470
2,934
1,535
1,565
1,293
1,030
1,419
2,466
1,460
Investments
2,248
3,833
2,110
2,298
2,587
2,678
2,212
2,616
4,986
4,930
4,051
5,285
Other Assets
10,303
9,162
9,290
9,612
9,707
12,160
14,605
17,715
16,974
22,004
23,280
27,768
Total Assets
18,457
20,330
21,654
22,349
22,418
23,223
26,588
29,746
32,209
38,780
48,023
56,577

Cash Flow

₹ Cr
DRREDDY cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,524
3,263
2,144
1,803
2,870
2,984
3,570
2,811
5,888
4,543
4,643
5,674
Investing
−2,370
−1,610
−1,890
−1,483
−769
−495
−2,255
−2,565
−4,109
−4,034
−5,785
−6,425
Financing
−433
−1,700
−369
−444
−2,133
−2,516
−30
−242
−2,686
−376
1,891
829
Net Cash Flow
−280
−47
−114
−124
−31
−27
1,286
3
−907
133
749
78
Free Cash Flow
1,009
2,065
926
713
2,248
2,412
2,323
1,238
4,009
1,908
1,327
2,004
CFO/OP
88
111
110
88
106
149
107
94
108
83
78
109

Ratios

DRREDDY financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
100
97
98
104
94
105
95
113
107
105
101
110
Inventory Days
248
248
282
263
273
230
273
250
232
283
260
228
Days Payable
84
88
104
121
111
100
109
111
108
116
97
91
Cash Conversion Cycle
264
257
275
246
256
235
259
252
231
271
264
247
Working Capital Days
26
34
−14
39
65
59
57
61
84
118
69
68
ROCE %
22%
19%
9%
8%
13%
11%
16%
14%
27%
27%
23%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Dr Reddys Laboratories insights

70 extracted metrics across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 31.88%
  • FIIs 31.39%
  • Promoters 26.63%
  • Public 7.53%
  • Others 2.56%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Dr Reddys Laboratories

What does Dr Reddys Laboratories Ltd do?
Dr. Reddy's Laboratories Ltd is a leading India-based pharmaceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.
Where is Dr Reddys Laboratories Ltd (DRREDDY) listed?
Dr Reddys Laboratories Ltd trades as DRREDDY on the NSE and under code 500124 on the BSE.
Which sector does Dr Reddys Laboratories Ltd belong to?
Dr Reddys Laboratories Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the PE ratio of Dr Reddys Laboratories Ltd?
Dr Reddys Laboratories Ltd trades at a PE ratio of 35.59 as of 4 Nov 2026, on earnings per share of ₹38.61, against a book value of ₹464.93 per share.
What is the 52-week high and low of Dr Reddys Laboratories Ltd?
Over the last 52 weeks Dr Reddys Laboratories Ltd has traded between ₹1,101 and ₹1,414.9 as of 4 Nov 2026.
Does Dr Reddys Laboratories Ltd pay dividends?
Dr Reddys Laboratories Ltd has a dividend yield of 0.58%.
What is the Return on Equity (ROE) of Dr Reddys Laboratories Ltd?
Dr Reddys Laboratories Ltd reported a return on equity of 11.20%. Its debt-to-equity ratio is 0.20.

Company Information

Dr. Reddy's Laboratories Ltd is a leading India-based pharmaceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.

Website drreddys.com
CEO Mr. Gunupati Venkateswara Prasad B.E.
Employees 27,811
Listed 30 May 2003
Face Value ₹1

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