Develops, manufactures and sells generic pharmaceuticals globally, with operations spanning India, the US, Europe and emerging markets. Global Generics made up 85.8% of FY26 segment revenue at Rs 18,202.7 crore with a 24.0% segment EBIT margin, while Pharmaceutical Services and Active Ingredients (PSAI) contributed 14.0% at Rs 2,975.0 crore with a -3.0% segment EBIT margin. The Q1 FY27 geographic mix was North America Generics US$236M, Emerging Markets Rs 1,833 crore (+31% YoY), India Rs 1,718 crore (+17% YoY), Europe EUR 131M and PSAI US$91M. Manufacturing sits at facilities in Bachupally (biologics) and Srikakulam (FTO-SEZ), with FY27 capex guided at around Rs 1,800 crore and 27 US product launches targeted. Recent regulatory actions include USFDA approval for a rituximab biosimilar (to be commercialized in the US by Fresenius Kabi), a bosutinib first-to-file launch with 180-day exclusivity in the US, and Form 483s with 7 observations at Bachupally and 3 at Srikakulam. Q1 FY27 was hit by a Rs 240 crore semaglutide API provision and lower lenalidomide, with EBITDA margin at 12.5%; semaglutide supply is targeted to resume by November 2026. Materials accounted for 19.3% of FY26 revenue, employees 17.8% and other operating expenses 26.8%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Global Generics (86%), Pharmaceutical Services and Active Ingredients (PSAI) (14%), Others (0%). Cyclical, asset-heavy pharmaceuticals with global generic, API and biosimilar operations exposed to USFDA inspections and product-specific supply disruptions.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 21,545 | 24,670 | 28,011 | 32,644 | 33,700 |
| EBITDA (ex other income) | 3,768 | 6,349 | 7,933 | 8,547 | 6,454 |
| margin % | 17.5 | 25.7 | 28.3 | 26.2 | 19.1 |
| Owners' profit | 2,183 | 4,507 | 0 | 5,655 | 4,196 |
| EPS, as reported (₹) | 131.57 | 271.47 | 335.22 | 67.89 | 50.41 |
| ROE % · ROCE % | 11.4 · 15.4 | 19.4 · 26.0 | 19.7 · 25.1 | 16.9 · 21.8 | 10.9 · 13.9 |
| Debt / equity (x) | 0.17 | 0.06 | 0.06 | 0.12 | 0.16 |
| Cash from operations | 2,811 | 5,887 | 4,543 | 4,643 | 5,674 |
| Capex | (1,466) | (1,132) | (1,640) | (2,750) | (2,331) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8,038 | 8,381 | 8,528 | 8,572 | 8,828 | 8,753 | 7,546 | 8,100 |
| Profit before tax | 1,911 | 1,870 | 2,000 | 1,905 | 1,739 | 1,541 | 195 | 553 |
| Net profit | 1,342 | 1,404 | 1,587 | 1,410 | 1,337 | 1,190 | 221 | 436 |
| EPS (₹) | 15.08 | 16.97 | 19.12 | 17.04 | 16.18 | 14.53 | 2.65 | 5.33 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| a) Global Generics | 22,373 | 65.0 |
| b) Pharmaceutical Services and Active Ingredients | 3,280 | 9.5 |
| c) Others | 50 | 0.1 |
| Global Generics | 7,573 | 22.0 |
| Pharmaceutical Services and Active Ingredients | 987 | 2.9 |
| Others | 164 | 0.5 |
| Total, before eliminations | 34,427 | 100.0 |
| Company | M.cap ₹ cr | P/E |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · USFDA issues two observations at Dr. Reddy's Mexico API facility | regulatory legal | high | — | — |
| 10 Sept 2026 · Allotment of 375 equity shares under ESOP scheme | capital market events | low | — | — |
| 10 Sept 2026 · Dr Reddy's schedules analyst meets on Sep 17 and Sep 24 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Allotment of 4,110 equity shares under ESOP scheme | capital market events | low | — | — |
| 20 Aug 2026 · Newspaper notice for lost share certificates | compliance | minimal | — | — |
| 14 Aug 2026 · ICICI Prudential MF crosses 5% stake in Dr Reddy's Labs | ownership changes | high | — | — |
| 13 Aug 2026 · CEO of API and Services division resigns, effective Nov 12 2026 | management changes | high | — | — |
| 7 Aug 2026 · Dr Reddy's ends brand distribution pact with Novartis India | business updates | medium | — | — |
| 7 Aug 2026 · Dr. Reddy's terminates distribution deal with Novartis India | business updates | medium | — | — |
| 7 Aug 2026 · Dr. Reddy's ends Novartis India brand distribution deal | business updates | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| P/B |
|---|
| EV/EBITDA |
|---|
| ROE % |
|---|
| ROCE % |
|---|
| Rev CAGR 5y % |
|---|
| EBITDA m. % |
|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 | 18.0 | 12.4 | 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES ◆ | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.1 | 28.9 | 88 of 169 | 48% |
| P/B | 2.5 | 3.3 | 66 of 163 | 59% |
| ROCE | 13.0 | 10.8 | 77 of 183 | 58% |
| ROE | 10.9 | 10.4 | 84 of 171 | 51% |
| Debt / Equity | 0.2 | 0.1 | 91 of 171 | 47% |
| EBITDA margin | 15.0 | 17.5 | 92 of 165 | 45% |
| Revenue growth | (5.5) | 16.3 | 129 of 161 | 20% |
| Profit growth | (69.1) | 30.9 | 138 of 158 | 13% |
| Market cap | 97319 | 839 | 7 of 182 | 97% |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
