Investor presentation for Q4 and FY 2026 Audited Financial Results
DRREDDY · price
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Dr Reddys Laboratories reported Q4FY26 revenues of ₹7,516 Cr (12% YoY) and FY26 revenues of ₹33,593 Cr (3% YoY). One-time charges impacted Q4 results including a ₹453 Cr shelf stock adjustment for lenalidomide, ₹228 Cr impairment for CAR-T and Eftilagimod alfa, and ₹114 Cr VAT provision. Excluding these items, EBITDA margin was 19.5% for Q4 and 24.7% for FY26. North America revenues grew 51% YoY in Q4 to ₹1,756 Cr despite lenalidomide headwinds. India revenues rose 20% YoY to ₹1,566 Cr, while Emerging Markets grew 29% YoY to ₹1,806 Cr. Key developments include launch of generic semaglutide injection in India, first approval for generic semaglutide in Canada, and BLA acceptance for abatacept biosimilar by USFDA. Net cash surplus stood at ₹3,271 Cr.
Strong underlying performance masked by one-time charges; excluding items, EBITDA margin improved to 19.5% in Q4, indicating operational strength despite lenalidomide SSA impact.