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Dr. Reddy's Laboratories (DRREDDY) INR

At a glance: strengths & risks
✓Low leverage (0.6x EBITDA)✗Profit falling (-24%)✗Margins compressing (30%→24%)

Sector: Pharmaceuticals

IN_DRREDDY

Price chart

1 171 INRDay 1.44%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1 171 INR · 1.44%
Market cap
975.1 bn INR

Growth

Δ revenue y/y
-5.6%
Δ EBITDA y/y
-61.1%

Multiples

P/E (LTM)
22.8x
3y avg: 20.6x
P/B (FY)
2.6x
P/E (ann.)
55.0x
EV/EBITDA (LTM)
14.4x
3y avg: 13.5x
EV/EBITDA (ann.)
30.4x

Cash return

Dividend yield
0.7%
FCF yield (LTM)
-1.4%

Value creation

fundamental value/yr, % of market cap
Value created / year
-28.5%
↓ details

Liquidity

Daily turnover (listing)
82.6 mln INR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B INR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB INROperating profitB INRD&AB INREBITDAB INRNet profitB INROperating CFB INRCapex + M&AB INRAssetsB INREquityB INRROE (annualized)Net debtB INRSource
2026-06-30Q2 2026 (3M)PARTIAL80.7
y/y -5.6%
3.0
y/y -82.0%
5.4
y/y 12.7%
8.4
y/y -61.1%
4.4
y/y -68.7%
-0.9-3.7575.3
y/y 10.7%
383.4
y/y 9.5%
4.7%46.5—
2026-03-31FY 2026 (12M)OK—
y/y 3.2%
—
y/y -30.4%
—
y/y 20.8%
—
y/y -20.6%
—
y/y -24.2%
——579.3
y/y 17.5%
377.1
y/y 13.1%
11.4%47.6—
2025-12-31Q4 2025 (3M)OK87.3
y/y 4.4%
14.3
y/y -23.4%
5.2
y/y 10.5%
19.5
y/y -16.6%
12.1
y/y -14.4%
10.9-7.3562.9
y/y 17.0%
372.4
y/y 15.8%
4.4%35.4—
2025-09-30Q3 2025 (3M)PARTIAL88.1
y/y 9.8%
17.9
y/y -1.0%
5.1
y/y 27.1%
22.9
y/y 4.1%
14.4
y/y 14.5%
15.6-10.1542.0
y/y 16.3%
358.5
y/y 15.9%
16.2%35.0—
2025-06-30Q2 2025 (3M)OK85.5
y/y 11.4%
16.8
y/y -6.0%
4.8
y/y 25.1%
21.6
y/y -0.5%
14.2
y/y 1.9%
14.6-10.1519.5
y/y 25.1%
350.1
y/y 18.8%
16.6%33.2—
2025-03-31FY 2025 (12M)OK—
y/y 16.6%
—
y/y 10.3%
—
y/y 14.9%
—
y/y 11.1%
—
y/y 1.5%
——493.0
y/y 27.2%
333.4
y/y 18.8%
17.3%27.2—
2024-12-31Q4 2024 (3M)OK83.6
y/y 15.9%
18.7
y/y 10.7%
4.7
y/y 25.2%
23.4
y/y 13.3%
14.1
y/y 2.5%
6.6-7.2481.1
y/y 29.0%
321.6
y/y 20.1%
6.0%33.2Link
2024-09-30Q3 2024 (3M)OK80.2
y/y 16.5%
18.0
y/y 9.4%
4.0
y/y 4.9%
22.0
y/y 8.5%
12.6
y/y -15.2%
9.3-7.5466.0
y/y 34.3%
309.3
y/y 22.2%
16.6%32.5Link
2024-06-30Q2 2024 (3M)OK76.7
y/y —
17.9
y/y —
3.8
y/y —
21.7
y/y —
13.9
y/y —
8.5-5.1415.3
y/y —
294.6
y/y —
19.4%22.1Link
2024-03-31FY 2024 (12M)OK—
y/y 13.5%
—
y/y 10.6%
—
y/y 17.5%
—
y/y 11.8%
—
y/y 23.6%
——387.5
y/y 20.4%
280.6
y/y 21.5%
20.3%9.4—
2023-12-31Q4 2023 (3M)OK72.1
y/y —
16.9
y/y —
3.8
y/y —
20.7
y/y —
13.8
y/y —
4.7-3.8372.8
y/y —
267.9
y/y —
7.1%8.6Link
2023-09-30Q3 2023 (3M)OK68.8
y/y —
16.5
y/y —
3.8
y/y —
20.3
y/y —
14.8
y/y —
17.9-3.7347.0
y/y —
253.1
y/y —
24.5%-3.9Link
2023-03-31FY 2023 (12M)PARTIAL245.9
y/y —
59.1
y/y —
12.6
y/y —
71.7
y/y —
45.1
y/y —
58.9-18.9321.9
y/y —
231.0
y/y —
—5.4—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

020 00040 00060 00080 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-75%-50%-25%0%25%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF (INR mln)

-15 000-10 000-5 00005 00010 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash (INR mln)

010 00020 00030 00040 00050 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 1.19x of reported net profit; after capex, 0.43x.
year20222023202420252026
cash flow / profit1.19x1.31x0.82x0.82x1.32x
accruals, % of assets—-4.3%2.6%2.1%-2.4%
Last twelve months (to 2025-Q3): 1.24x of profit came back as operating cash flow.
net debt / EBITDA 0.6x · capex 1.7x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -28.5%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (8 405 − 21 607) × 6.81
-18 344
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (975 058 + 46 484) ÷ 57 271
17.8x
3. Target multiple
(Current EV/EBITDA + 11) ÷ 2
= (17.8 + 11) ÷ 2
14.4x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -13 307 + 0 + 0 − 0
-13 307
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-18 344 × 14.4 + -13 307) ÷ 975 058
-28.5%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only
  • EBITDA growth from 3-yr FY trend, min of avg & latest YoY (anomalous latest-period delta)

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +3% vs +17% the year before — a -13.4 pp move. 3-year CAGR +11%.
revenue growth by year: 2024 +14% · 2025 +17% · 2026 +3%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-07-108 INREx-dividend: 8 INR per sharePaidYahoo Finance (ex-div)
2025-07-108 INREx-dividend: 8 INR per sharePaidYahoo Finance (ex-div)
2024-07-168 INREx-dividend: 8 INR per sharePaidYahoo Finance (ex-div)
2023-07-118 INREx-dividend: 8 INR per sharePaidYahoo Finance (ex-div)
2022-07-116 INREx-dividend: 6 INR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Dr. Reddy's Laboratories (DRREDDY) — from primary filings.

Frequently asked questions

What is Dr. Reddy's Laboratories (DRREDDY)'s P/E ratio?
Dr. Reddy's Laboratories (DRREDDY) trades at a P/E of 22.8x (price to trailing 12-month earnings).
What is Dr. Reddy's Laboratories (DRREDDY)'s EV/EBITDA?
Dr. Reddy's Laboratories (DRREDDY) trades at 14.4x EV/EBITDA.
What is Dr. Reddy's Laboratories (DRREDDY)'s P/B ratio?
Dr. Reddy's Laboratories (DRREDDY) trades at a P/B of 2.6x.
What is Dr. Reddy's Laboratories (DRREDDY)'s dividend yield?
Dr. Reddy's Laboratories (DRREDDY)'s trailing 12-month dividend yield is 0.7%.
What is Dr. Reddy's Laboratories (DRREDDY)'s return on equity (ROE)?
Dr. Reddy's Laboratories (DRREDDY)'s ROE is 4.7%.
What is Dr. Reddy's Laboratories (DRREDDY)'s market capitalization?
Dr. Reddy's Laboratories (DRREDDY)'s market cap is 975.1 bn INR.

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