MarketFriction

Dr Reddys Laboratories Ltd

NSE DRREDDY · BSE 500124 · Pharmaceuticals
₹1,206.20 -2.17%
NSE close2026-10-01
52 week range1,101.00 - 1,414.90
Market cap₹1,04,494 Cr.
P/E32.4
Results 23-10 Nifty 50Nifty 100Nifty 200Nifty 500Nifty PharmaNifty Healthcare Index No price band Delivery 65.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6,9037,2377,1147,6968,0388,3818,5288,5728,8288,7537,5468,100
Expenses4,8945,2145,2835,5665,9626,1086,5306,3986,8186,8667,1647,240
Operating Profit2,0082,0231,8312,1302,0762,2731,9982,1742,0101,888382860
OPM %29%28%26%28%26%27%23%25%23%22%5%11%
Other Income319219201193314154528290330271480356
Interest35395960768266839194106126
Depreciation376374368381397471455476505521557537
Profit before tax1,9171,8291,6051,8831,9171,8742,0051,9051,7451,543200553
Tax %23%24%18%26%30%25%21%26%23%23%-11%21%
Net Profit1,4821,3811,3101,3921,3421,4041,5871,4101,3371,190221436
EPS in Rs17.7716.5615.7016.6915.0516.9419.0916.9916.1414.502.655.32
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales15,56814,19614,28115,44817,51719,04821,54524,67028,01132,64433,70033,228
Expenses11,98311,72411,93012,27015,04015,17317,77818,20020,07824,09727,24728,088
Operating Profit3,5852,4722,3513,1782,4773,8743,7686,4707,9338,5476,4545,140
OPM %23%17%16%21%14%20%17%26%28%26%19%15%
Other Income2951721553816703355559719091,1191,3721,437
Interest83637989989796143171283374416
Depreciation9391,0271,0771,1351,1631,2291,1651,2501,4701,7042,0592,119
Profit before tax2,8591,5541,3502,3361,8862,8843,0616,0487,2017,6805,3934,041
Tax %26%19%32%17%-7%32%29%25%23%25%23%
Net Profit2,1311,2929471,9502,0261,9522,1824,5075,5785,7254,1583,183
EPS in Rs24.9815.5911.4123.4924.3823.4726.2354.1466.8767.7750.2738.61
Dividend Payout %16%26%35%17%21%21%23%15%12%12%16%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%12%11%-1%
Compounded Profit Growth7%15%-4%-43%
Stock Price CAGR7%5%4%2%
Return on Equity15%16%16%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital858583838383838383838384
Reserves9,76812,48412,17912,48913,94115,51617,55819,12923,20328,17133,46637,808
Borrowings4,3143,3524,9185,0713,8382,2103,0313,3841,3472,0024,6777,734
Other Liabilities4,2904,4084,4744,7064,5575,4145,9157,1497,5768,5239,79710,951
Total Liabilities18,45720,33021,65422,34922,41823,22326,58829,74632,20938,78048,02356,577
Fixed Assets5,3776,5636,9316,9687,1916,8508,2068,1229,21910,42618,22622,063
CWIP5297723,3243,4702,9341,5351,5651,2931,0301,4192,4661,460
Investments2,2483,8332,1102,2982,5872,6782,2122,6164,9864,9304,0515,285
Other Assets10,3039,1629,2909,6129,70712,16014,60517,71516,97422,00423,28027,768
Total Assets18,45720,33021,65422,34922,41823,22326,58829,74632,20938,78048,02356,577
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,5243,2632,1441,8032,8702,9843,5702,8115,8884,5434,6435,674
Cash from Investing Activity-2,370-1,610-1,890-1,483-769-495-2,255-2,565-4,109-4,034-5,785-6,425
Cash from Financing Activity-433-1,700-369-444-2,133-2,516-30-242-2,686-3761,891829
Net Cash Flow-280-47-114-124-31-271,2863-90713374978
Free Cash Flow1,0092,0659267132,2482,4122,3231,2384,0091,9081,3272,004
CFO/OP88%111%110%88%106%149%107%94%108%83%78%109%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days10097981049410595113107105101110
Inventory Days248248282263273230273250232283260228
Days Payable84881041211111001091111081169791
Cash Conversion Cycle264257275246256235259252231271264247
Working Capital Days2634-143965595761841186968
ROCE %22%19%9%8%13%11%16%14%27%27%23%13%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters26.66%26.65%26.65%26.65%26.64%26.64%26.64%26.64%26.64%26.64%26.63%26.63%
FIIs28.19%28.62%29.13%27.68%27.53%26.85%25.75%25.33%24.69%22.34%21.14%20.67%
DIIs21.04%18.65%18.31%20.72%21.48%22.89%25.63%26.73%27.99%30.44%30.72%31.75%
Public23.93%25.89%25.73%24.78%24.20%23.46%21.69%21.04%20.45%20.33%21.27%20.76%
Others0.18%0.18%0.17%0.17%0.16%0.16%0.29%0.26%0.25%0.25%0.24%0.20%
No. of Shareholders2,43,4452,57,7942,55,5002,67,6943,10,4034,03,6694,59,6054,51,9294,49,2164,55,2434,49,6654,46,086

Fundamentals

Market Cap₹ 1,04,494 Cr.
Current Price₹ 1,252
Stock P/E32.4
Book Value₹ 454
ROCE13.0 %
ROE11.2 %
Dividend Yield0.64 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-1%
Compounded Profit Growth (TTM)-43%
Consolidated figures.
Valuation
Market capRs 100,676 Cr
Enterprise valueRs 105,062 Cr
P/E (TTM)31.24x
Price to book2.66x
Price to sales3.03x
EV / EBITDA15.98x
EV / EBIT23.57x
EV / sales3.16x
Price to cash flow17.74x
Earnings yield3.20%
Dividend yield0.66%
P/E, 3-year average15.18x
P/B, 3-year average2.11x
P/E, 5-year average11.10x
P/B, 5-year average1.55x
Profitability
Operating margin (excl. other income)19.15%
Operating margin (incl. other income)23.22%
EBITDA margin19.79%
Pre-tax margin12.16%
Net profit margin9.70%
Net margin, latest quarter5.49%
ROE11.75%
ROCE13.75%
ROA8.02%
ROE, 3-year average17.23%
ROCE, 3-year average21.29%
ROA, 3-year average12.26%
ROE, 5-year average16.95%
ROCE, 5-year average20.94%
ROA, 5-year average11.81%
ROIC (approx.)8.13%
Tax rate22.90%
Other income / net worth3.62%
Growth
Sales growth (latest year)3.24%
Profit growth (latest year)-25.80%
Sales CAGR, 3 years10.96%
Sales CAGR, 5 years12.09%
Profit CAGR, 3 years-2.36%
Profit CAGR, 5 years16.54%
Sales growth QoQ7.33%
Profit growth QoQ101.13%
Sales growth YoY (latest quarter)-5.51%
Profit growth YoY (latest quarter)-68.67%
Per share
EPS (TTM)Rs 38.61
EPS (latest year)Rs 50.27
EPS (latest quarter)Rs 5.32
EPS, 3-year averageRs 150.80
EPS, 5-year averageRs 170.84
Book value per shareRs 453.98
Sales per shareRs 398.10
Cash flow per shareRs 67.98
Free cash flow per shareRs 24.01
Dividend per share (latest year)Rs 8.00
Dividend per share, 3-year averageRs 18.66
Dividend per share, 5-year averageRs 25.20
Dividends
Dividend payout15.92%
Dividend payout, 3-year average13.23%
Dividend payout, 5-year average15.47%
Efficiency
Asset turnover0.60x
Fixed asset turnover1.53x
Inventory turnover1.96x
Inventory days186 days
Debtor days110 days
Debtors turnover3.33x
Creditor days91 days
Cash conversion cycle247 days
Working capital days68 days
Leverage
Total debtRs 7,734 Cr
Cash and bankRs 3,349 Cr
Net debtRs 4,385 Cr
Debt to equity0.20x
Net debt / EBITDA0.67x
Interest coverage10.71x
Current ratio (filing 2026-03-31)1.80x
Quick ratio (filing 2026-03-31)1.34x
Trade payables (filing 2026-03-31)Rs 3,038 Cr
Owners' fund to total sources66.97%
Debt to assets13.67%
Cash flow
Cash from Operating Activity (latest year)Rs 5,674 Cr
Cash from Investing Activity (latest year)Rs -6,425 Cr
Cash from Financing Activity (latest year)Rs 829 Cr
Net Cash Flow (latest year)Rs 78 Cr
Free cash flow (latest year)Rs 2,004 Cr
FCFE (approx.: FCF + change in debt)Rs 5,062 Cr
Cash from ops / profit, 5 years1.06x
Sales to cash flow5.94x
Statement figures
Net sales (TTM)Rs 33,228 Cr
Net sales (latest year)Rs 33,700 Cr
Sales (latest quarter)Rs 8,100 Cr
Operating profit excl. other income (latest year)Rs 6,454 Cr
Operating profit (latest quarter)Rs 860 Cr
Other income (TTM)Rs 1,437 Cr
EBITDA (TTM)Rs 6,577 Cr
PBDT (TTM)Rs 6,160 Cr
Profit before tax (TTM)Rs 4,041 Cr
Tax (latest year)Rs 1,235 Cr
Net profit (TTM)Rs 3,222 Cr
Net profit (latest year)Rs 4,196 Cr
Net profit (latest quarter)Rs 444 Cr
Depreciation (TTM)Rs 2,119 Cr
Depreciation (latest quarter)Rs 537 Cr
Interest (TTM)Rs 416 Cr
Cost of goods sold (latest year)Rs 15,038 Cr
Total expenditure (latest year)Rs 27,247 Cr
Total income (latest year)Rs 35,072 Cr
Share capitalRs 84 Cr
ReservesRs 37,808 Cr
Shareholders' fundsRs 37,892 Cr
Total assetsRs 56,577 Cr
Net blockRs 22,063 Cr
Capital work in progressRs 1,460 Cr
InvestmentsRs 5,285 Cr
ReceivablesRs 10,123 Cr
InventoryRs 7,653 Cr
Other liabilitiesRs 10,951 Cr
Shares outstanding (crore)83.47
Ownership
Promoter holding26.63% (-0.01 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 31.2 is at the 52th percentile of its own 9.4-year range (median 30.1, low 17.4, high 51.7).
P/B 2.66 is at the 3th percentile (median 3.70).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodDRREDDYNifty 50Difference
1 week+0.5%-2.8% +3.3 pts
1 month+3.0%-6.8% +9.8 pts
3 months-12.2%-7.6% -4.6 pts
6 months-3.9%+0.4% -4.3 pts
1 year-5.4%-9.9% +4.5 pts
2 years-9.4%-13.6% +4.2 pts
3 years+7.9%+14.2% -6.2 pts
5 years+21.7%+27.9% -6.2 pts
226 mutual fund schemes hold about ₹11,504 Cr. Over three months 61 bought more and 89 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Parag Parikh Flexi Cap Fund1.12%1,651 +0%
ICICI Pru Value Fund1.80%1,079 -4%
ICICI Pru India Opp Fund2.36%906 +259%
ICICI Pru Large Cap Fund0.91%727 +19%
ICICI Pru Healthcare Fund-8.26%578 +14%
Nippon India Pharma Fund4.93%468 -16%
Nippon India Large Cap Fund0.85%462 -17%
ICICI Pru Focused Fund2.25%404 +2%
ICICI Pru Manufacturing Fund4.02%289 +100%
ICICI Pru Aggressive Hybrid Fund(A0.48%253 -5%
Mirae Asset Large Cap Fund0.55%211 -38%
UTI Nifty 50 Index Fund0.64%188 -4%
Bandhan Value Fund1.85%185 -3%
ICICI Pru Multi Asset Allocation Fund0.21%183 -27%
HDFC Nifty 50 Index Fund0.64%154 -4%
ICICI Pru Innovation Fund1.86%146 -8%
Mirae Asset Healthcare Fund3.94%140 +4%
ICICI Pru Equity Savings Fund(Q0.76%124 -13%
Bandhan ELSS-Tax Saver Fund1.66%115 -4%
HDFC Balanced Advantage Fund0.11%115 -4%
Tata Ethical Fund2.96%114 +32%
ICICI Pru Nifty 50 Index Fund0.64%111 -4%
ICICI Pru Nifty 50 Index Fund0.64%110 -4%
Bandhan Large & Mid Cap Fund0.51%107 -13%
Franklin India Multi Cap Fund2.00%105 +100%

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 65% while net profit fell in 2026
lookAuditor change Auditor change 2026-07-23: Dr. Reddy's Laboratories Limited has informed the Exchange regarding Change in Auditors of the company.
lookRegulator order or action Regulator order or action 2026-04-14: Dr. Reddy's Laboratories Limited has informed the Exchange about Dr. Reddy s Laboratories LLC, Russia, a step-down wholly-owned subsidiary h
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-03-26Patrick Aghanian-other3,675Rs 0.48 CrESOP
2025-12-09Tricia Wetzel-other4,275Rs 0.54 CrESOP
2025-09-15Patrick Aghanian-other4,775Rs 0.63 CrESOP
2025-08-29Anjum Swaroop-other10,495Rs 1.32 CrESOP
2025-07-30C Swaminathan-sell7,450Rs 0.96 CrMarket Sale
2025-07-30C Swamynathan-other7,450Rs 0.96 CrESOP
2025-06-23Jeff Jorgenson-other1,495Rs 0.20 CrESOP
2025-06-23Milan Kalawadia-other8,440Rs 1.12 CrESOP
2025-06-14Tricia Wetzel-other1,670Rs 0.23 CrESOP
2025-06-14Lalitha Subramanian-other1,250Rs 0.17 CrESOP
2025-06-14Anjum Swaroop-other2,050Rs 0.28 CrESOP
2024-09-20Vincent Colicchio-other1,594Rs 1.04 CrESOP
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹8,100 Cr -5.5% vs Jun 2025. Net profit ₹436 Cr -69.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-10Dividend - Rs 8 Per Share
2025-07-10Dividend - Rs 8 Per Share
2024-10-28Face Value Split (Sub-Division) - From Rs 5/- Per Share To Re 1/- Per Share0.2000
2024-07-16Annual General Meeting/Dividend - Rs 40 Per Share
2023-07-11Annual General Meeting/Dividend - Rs 40 Per Share
2022-07-11Annual General Meeting/Dividend - Rs 30 Per Share
2021-07-09 Annual General Meeting/Dividend - Rs 25 Per Share
2020-07-13 Annual General Meeting/Dividend - Rs 25 Per Share
2019-07-15 Annual General Meeting/Dividend - Rs 20 Per Share
2018-07-16 Annual General Meeting/Dividend- Rs 20 Per Share
2017-07-17 Annual General Meeting/Dividend - Rs 20/- Per Share
2016-07-18 Annual General Meeting/ Dividend - Rs 20/- Per Share
2015-07-10Annual General Meeting/Dividend Rs 20/- Per Share
2014-07-11Annual General Meeting / Final Dividend - Rs 18/- Per Share
2013-07-12Annual General Meeting And Dividend Rs.15/- Per Share
2012-06-28Annual General Meeting And Dividend - Rs.13.75 Per Share
2011-06-30Annual General Meeting And Dividend Rs.11.25 Per Share
2011-03-17Scheme Of Arrangement - Bonus Debentures 6:1
2010-07-02Annual General Meeting And Final Dividend Rs.11.25 Per Share
2009-07-03Agm/Div-Rs.6.25 Per Share
2008-07-04Agm/Dividend - 75%
2007-07-06Dividend-75%
2006-08-28Bonus 1:10.5000
2006-07-07Dividend-100%
DateTypeWhat it says
2026-09-21Concall / analyst meetSchedule of meet
2026-09-18Arrangements for strategic, Dr. Reddys Laboratories Limited has today, i.e., September 18, 2026, entered into an exclusive distribution and marketing agreement with Takeda Biopha...
2026-09-18News clarificationThe Exchange has sought clarification from Dr. Reddys Laboratories Limited with respect to recent news item captioned Dr Reddy s gets voluntary licenc...
2026-09-17News clarificationThe Exchange has sought clarification from Dr. Reddys Laboratories Limited with respect to recent news item captioned Dr Reddy s gets voluntary licenc...
2026-09-11General UpdatesGeneral Updates
2026-09-10General UpdatesAllotment of Employee Stock options
2026-09-10Concall / analyst meetSchedule of meet
2026-08-26General UpdatesAllotment of employee stock options
2026-08-14General UpdatesGeneral Updates
2026-08-14General UpdatesGeneral Updates
2026-08-13ResignationResignation of Director/KMP/SMP
2026-08-13Change in ManagementChange in Management
2026-08-07General UpdatesGeneral Updates
2026-08-01Press ReleaseA press release dated August 01, 2026, titled "Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation...
2026-07-29General UpdatesGeneral Updates
2026-07-29News clarificationThe Exchange has sought clarification from Dr. Reddys Laboratories Limited with respect to recent news item captioned Dr Reddys antibiotic gets Thaila...
2026-07-28Concall / analyst meetTranscript
2026-07-28News clarificationThe Exchange has sought clarification from Dr. Reddys Laboratories Limited with respect to recent news item captioned Dr Reddys antibiotic gets Thaila...
2026-07-23Change in AuditorsChange in Auditors of the company.
2026-07-23Director changeChange in Director(s) of the company.
2026-07-23Shareholder meetingProceedings of Annual General Meeting held on July 23, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with v...
2026-07-23Press ReleaseA press release dated July 23, 2026, titled "Intimation of Earnings call recording".
2026-07-22Investor PresentationInvestor Presentation
2026-07-22General UpdatesAllotment of Employee Stock Options
2026-07-22Change in ManagementChange in Management
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.76
Max pain (expiry 2026-10-27)1,200
Largest call open interest at1,200
Largest put open interest at1,200
Implied volatility, at the money26.2%
Underlying at snapshot1,206.20
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-293,810
2026-09-2850
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03