Dr Reddy's Laboratories Ltd
Dr. Reddy's Laboratories Ltd is a leading India-based pharamceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations.
- Market Cap ₹ 1,02,725 Cr.
- Current Price ₹ 6,158
- High / Low ₹ 6,506 / 4,383
- Stock P/E 19.6
- Book Value ₹ 1,528
- Dividend Yield 0.65 %
- ROCE 26.7 %
- ROE 21.6 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 38.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.7%
Cons
- The company has delivered a poor sales growth of 11.6% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
9,814 | 11,833 | 13,415 | 15,023 | 15,568 | 14,196 | 14,281 | 15,448 | 17,517 | 19,048 | 21,545 | 24,670 | 27,212 | |
7,371 | 9,164 | 10,164 | 11,515 | 11,983 | 11,724 | 11,930 | 12,270 | 15,040 | 15,173 | 17,778 | 18,200 | 19,585 | |
Operating Profit | 2,444 | 2,669 | 3,251 | 3,508 | 3,585 | 2,472 | 2,351 | 3,178 | 2,477 | 3,874 | 3,768 | 6,470 | 7,627 |
OPM % | 25% | 23% | 24% | 23% | 23% | 17% | 16% | 21% | 14% | 20% | 17% | 26% | 28% |
-7 | 146 | 170 | 260 | 295 | 172 | 155 | 381 | 670 | 335 | 555 | 971 | 862 | |
Interest | 114 | 100 | 127 | 108 | 83 | 63 | 79 | 89 | 98 | 97 | 96 | 143 | 147 |
Depreciation | 518 | 550 | 648 | 760 | 939 | 1,027 | 1,077 | 1,135 | 1,163 | 1,229 | 1,165 | 1,250 | 1,418 |
Profit before tax | 1,804 | 2,165 | 2,646 | 2,900 | 2,859 | 1,554 | 1,350 | 2,336 | 1,886 | 2,884 | 3,061 | 6,048 | 6,925 |
Tax % | 28% | 29% | 26% | 19% | 26% | 19% | 32% | 17% | -7% | 32% | 29% | 25% | |
1,301 | 1,527 | 1,963 | 2,336 | 2,131 | 1,292 | 947 | 1,950 | 2,026 | 1,952 | 2,182 | 4,507 | 5,228 | |
EPS in Rs | 76.72 | 89.90 | 115.41 | 137.13 | 124.88 | 77.96 | 57.07 | 117.42 | 121.92 | 117.35 | 131.14 | 270.66 | 313.66 |
Dividend Payout % | 18% | 17% | 16% | 15% | 16% | 26% | 35% | 17% | 21% | 21% | 23% | 15% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 12% |
3 Years: | 12% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | 12% |
5 Years: | 39% |
3 Years: | 31% |
TTM: | 43% |
Stock Price CAGR | |
---|---|
10 Years: | 9% |
5 Years: | 17% |
3 Years: | 11% |
1 Year: | 35% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 15% |
3 Years: | 15% |
Last Year: | 22% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 85 | 85 | 85 | 85 | 85 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 |
Reserves | 4,904 | 6,284 | 7,780 | 9,768 | 12,484 | 12,179 | 12,489 | 13,941 | 15,516 | 17,558 | 19,129 | 23,203 | 25,413 |
3,234 | 3,682 | 4,477 | 4,314 | 3,352 | 4,918 | 5,071 | 3,838 | 2,210 | 3,031 | 3,384 | 1,347 | 1,323 | |
3,082 | 3,329 | 3,563 | 4,290 | 4,408 | 4,474 | 4,706 | 4,557 | 5,414 | 5,915 | 7,149 | 7,576 | 7,990 | |
Total Liabilities | 11,305 | 13,380 | 15,906 | 18,457 | 20,330 | 21,654 | 22,349 | 22,418 | 23,223 | 26,588 | 29,746 | 32,209 | 34,809 |
3,412 | 4,051 | 4,641 | 5,377 | 6,563 | 6,931 | 6,968 | 7,191 | 6,850 | 8,206 | 8,122 | 9,219 | 10,090 | |
CWIP | 708 | 565 | 639 | 529 | 772 | 3,324 | 3,470 | 2,934 | 1,535 | 1,565 | 1,293 | 1,030 | 1,151 |
Investments | 208 | 197 | 1,067 | 2,248 | 3,833 | 2,110 | 2,298 | 2,587 | 2,678 | 2,212 | 2,616 | 4,986 | 4,457 |
6,977 | 8,567 | 9,559 | 10,303 | 9,162 | 9,290 | 9,612 | 9,707 | 12,160 | 14,605 | 17,715 | 16,974 | 19,111 | |
Total Assets | 11,305 | 13,380 | 15,906 | 18,457 | 20,330 | 21,654 | 22,349 | 22,418 | 23,223 | 26,588 | 29,746 | 32,209 | 34,809 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,613 | 1,378 | 1,970 | 2,524 | 3,263 | 2,144 | 1,803 | 2,870 | 2,984 | 3,570 | 2,811 | 5,888 | |
-971 | -1,437 | -1,604 | -2,370 | -1,610 | -1,890 | -1,483 | -769 | -495 | -2,255 | -2,565 | -4,109 | |
389 | -157 | -24 | -433 | -1,700 | -369 | -444 | -2,133 | -2,516 | -30 | -242 | -2,686 | |
Net Cash Flow | 1,031 | -216 | 342 | -280 | -47 | -114 | -124 | -31 | -27 | 1,286 | 3 | -907 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 94 | 98 | 90 | 100 | 97 | 98 | 104 | 94 | 105 | 95 | 113 | 107 |
Inventory Days | 282 | 229 | 271 | 248 | 248 | 282 | 263 | 273 | 230 | 273 | 250 | 232 |
Days Payable | 110 | 102 | 100 | 84 | 88 | 104 | 121 | 111 | 100 | 109 | 111 | 108 |
Cash Conversion Cycle | 267 | 225 | 261 | 264 | 257 | 275 | 246 | 256 | 235 | 259 | 252 | 231 |
Working Capital Days | 81 | 79 | 88 | 79 | 87 | 98 | 104 | 93 | 93 | 103 | 108 | 102 |
ROCE % | 28% | 25% | 25% | 22% | 19% | 9% | 8% | 13% | 11% | 16% | 14% | 27% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 2d
- Closure of Trading Window 22 Mar
- Board Meeting Intimation for Board Meeting Intimation For Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Financial Year Ending On March 31, 2024, And To Recommend Dividend, If Any, For The Financial Year 2023-24. 22 Mar
- Announcement Under Regulation 30 Of SEBI LODR Regulations 22 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Feb 2024TranscriptPPT
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Nov 2015TranscriptPPT
Global Generics Segment (~83% of revenues in FY22)
Co. offers 400+ high-quality generic drugs, keeping costs reasonable by leveraging its integrated operations. The company benefits from its expertise in active ingredients, product development skills, a keen understanding of regulations and intellectual property rights & streamlined supply chain. [1]
Top revenue contributors of the segment are nervous system drugs (14%), gastrointestinal (13%) & anti-infective (10%) [2]
In FY22, co. filed 7 new ANDA’s with US FDA [3]