Dr Reddy’s shares crash 9% after weak Q1 results. Here’s why these 3 brokerages are bearish

Dr Reddy's shares fell 9% after Q1FY27 results showed net profit plunging 69% to Rs 443 crore and revenue declining 6% to Rs 8,071 crore. The company cited a Rs 240 crore semaglutide API-related impact and higher solvent and freight costs from the Middle East conflict. Three brokerages turned bearish, with Motilal Oswal maintaining Neutral (target Rs 1,121), Systematix retaining Hold (target Rs 1,183), and Dolat Capital downgrading to Reduce with a cut in FY27E and FY28E EPS estimates by 25.7% and 18% respectively.