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Dr. Reddy's Laboratories Ltd

RDY Healthcare Drug Manufacturers Specialty & Generic

Dr. Reddy's Laboratories Ltd’s revenue for fiscal 2026 (year ended March 2026) was $3.6 billion, down 6.06% from fiscal 2025.

Revenue
−10.1%
EPS
−36.8%
Free cash flow
−70.5%
Total debt
+14.1%

Quarter to September 2026, against a year earlier

14.53 0.24 −1.62%
Market cap
$12.1B
P/E
44.4×
Fwd P/E
30.7×
Dividend yield
0.00%
F-score
4/9
Altman Z
5.26
Beneish M
−2.59
Dividend safety
74/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 12,100.00
Revenue ttm 3,333.85
Net income ttm 273.00
Free cash flow ttm 96.00
Net debt Q (46.00)
Valuation
P/E 44.42 (above 35: high)
Forward P/E 30.70
Price / sales 3.63
Forward P/S Powerpack
Price / FCF 126.01
Price / book 2.98
Financial health
Current ratio Q 1.93 (at or above 1.5: strong)
Debt / equity Q 0.19 (at or below 0.5: strong)
Interest coverage Q 10.16
Growth
Revenue growth Q −10.09% (below 0%: shrinking)
Operating income growth Q −33.88% (below 0%: shrinking)
EPS, this year −15.17% (below 0%: weak)
EPS, next year A +34.63% (at or above 15%: strong)
Revenue, next year A +6,810.10% (at or above 10%: strong)
EPS, past 5 yrs +11.86%
EPS, next 5 yrs A +12.57%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.6×, against a ten-year median of 3.2×; over the ten years it ranged from 2.4× in 2018 to 18.5× in 2024.
P/E against its own 10 years 89.04%
10-year low 10-year high
P/S against its own 10 years 73.96%
10-year low 10-year high
P/B against its own 10 years 23.40%
10-year low 10-year high
EV/Sales against its own 10 years 73.12%
10-year low 10-year high
EV/FCF against its own 10 years 93.66%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2017–25
+4.82%/yr
  1. 0.06 ’17
  2. 0.06 ’18 −7
  3. 0.06 ’19 −3
  4. 0.07 ’20 +18
  5. 0.34 ’21 +413
  6. 0.08 ’22 −78
  7. 0.58 ’23 +672
  8. 0.10 ’24 −84
  9. 0.09 ’25 −4
paid change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 979 685 938 799
Receivables 963 1,058 1,079 1,058
Inventory 763 832 816 847
Other 271 353 386 401
2,976 2,928 3,219 3,105
2024 2025 2026 Q'26
Payables 371 417 356 377
ST’ Debt 169 455 694 631
Other 586 620 691 575
1,152 1,527 1,787 1,612

Compound Annual Growth %

10y 5y 3y
Sales 4.37% 6.66% 6.16%
Cash Flow (0.26%) 4.46% (5.36%)
Earnings 4.21% 14.08% (5.94%)
Book Value 7.67% 11.37% 12.99%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 0.16 Actual 0.12

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.16 0.16 Met by 0.00
Mar 2026 0.09 0.06 Miss by 0.03
Jun 2026 0.17 0.06 Miss by 0.11
Sep 2026 0.16 0.12 Miss by 0.04
Dec 2026 0.15 — Reports 20 January 2027

EPS $

Jun Sep Dec Mar Year
’26 0.06 0.12 — — —
’26 0.20 0.19 0.16 (0.01) 0.55
’25 0.20 0.04 0.20 0.22 0.79
’24 0.21 0.21 0.20 0.19 0.80
’23 0.18 0.16 0.18 0.14 0.66
’22 0.09 0.16 0.11 0.01 0.37
’21 0.09 0.12 0.00 0.06 0.31
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 853 910 — — —
’26 997 1,013 977 593 3,580
’25 921 954 986 950 3,811
’24 821 828 866 835 3,350
’23 660 788 826 718 2,992
’22 662 778 715 671 2,826
’21 585 661 675 673 2,594
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 (10) 56 — — —
’26 171 169 118 149 607
’25 108 104 74 259 545
’24 137 214 57 137 545
’23 84 112 278 242 716
’22 (46) 68 233 115 370
’21 144 130 61 153 488
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 (23) 18 — — —
’26 53 61 43 58 215
’25 27 24 (25) 131 157
’24 (11) 174 3 64 230
’23 (24) 74 242 195 487
’22 (90) 12 174 67 163
’21 119 93 (4) 109 317
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 2,171 2,181 2,225 2,316 2,594 2,826 2,992 3,350 3,811 3,580 3,334 +5.7% 247,382 276,881 304,489 +339.8%
Gross margin, % 55.64 53.74 54.25 53.84 54.32 53.11 56.68 58.60 58.51 52.77 49.16 (2.9) pt
EBT 226 220 325 239 361 426 734 862 900 584 337 +11.1%
EBT margin, % 10.41 10.09 14.61 10.32 13.92 15.07 24.53 25.73 23.62 16.31 10.10 +5.9 pt
Net income 186 151 272 259 236 311 548 668 671 452 273 +10.4%
Per share, $
Per share, $ Revenue 2.61 2.63 2.68 2.79 3.13 3.41 3.60 4.03 4.58 4.30 4.00 +5.7%
Earnings 0.22 0.18 0.33 0.31 0.31 0.37 0.66 0.80 0.79 0.55 0.33 +10.6%
Cash flow 0.40 0.33 0.50 0.48 0.59 0.45 0.86 0.66 0.65 0.73 0.38 +6.9%
Capex (0.76) (0.20) (0.11) (0.09) (0.21) (0.25) (0.28) (0.38) (0.47) (0.47) (0.26) (5.1%)
Free cash flow (0.36) 0.13 0.39 0.39 0.38 0.20 0.59 0.28 0.19 0.26 0.12 n/m
Book value 2.30 2.34 2.44 2.48 2.85 3.03 3.38 4.05 4.74 4.87 4.88 +8.7%
Shares, m 833 829 830 829 829 829 830 832 833 832 820 0.0%
Valuation, ×
Valuation, × P/E 36.83 35.22 25.19 24.60 43.04 29.88 17.10 18.30 19.98 25.79 44.42 27.6
P/S 3.08 2.46 3.02 2.89 3.93 3.27 3.16 3.67 2.88 3.22 3.63 3.2
P/B 3.50 2.76 3.32 3.25 4.30 3.68 3.36 3.66 2.78 2.84 2.98 3.3
EV/Sales 3.30 2.67 3.11 2.86 3.90 3.21 2.96 3.45 2.85 3.19 3.61 3.1
EV/FCF (23.96) 53.45 21.36 20.70 31.88 55.73 18.18 50.29 69.10 53.09 125.54 35.0
Cash, $m
Cash, $m Operating cash flow 332 277 415 396 488 370 716 545 545 607 313 +6.9%
Capex (631) (168) (91) (76) (171) (207) (229) (315) (388) (392) (217) (5.2%)
Free cash flow (299) 109 324 320 317 163 487 230 157 215 96 n/m
Balance, $m
Balance, $m Working capital 237 614 793 763 887 1,158 1,474 1,824 1,401 1,432 1,493 +22.1%
Net debt 474 453 192 (63) (76) (164) (603) (738) (138) (114) (46) n/m
Shareholders’ equity 1,913 1,942 2,027 2,056 2,366 2,511 2,810 3,366 3,947 4,054 4,063 +8.7%
Returns, %
Returns, % ROA 5.70 4.41 8.09 8.17 7.03 8.30 14.09 15.60 12.72 7.63 4.44 +1.9 pt
ROIC 5.45 4.78 8.51 13.64 12.25 10.36 19.68 19.31 13.82 8.55 4.77 +3.1 pt
ROE 9.66 7.83 13.70 12.69 10.68 12.76 20.60 21.63 18.13 11.40 6.60 +1.7 pt
People
People Employees 22,671 23,524 21,966 21,650 22,739 24,795 25,863 27,048 27,811 27,527 — +2.2%
Revenue/emp, $m 0.10 0.09 0.10 0.11 0.11 0.11 0.12 0.12 0.14 0.13 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Dr. Reddy's Laboratories Ltd vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VTRS Viatris Inc. $21.8B — (loss-making) 82.6× −0.28% (below 0%: shrinking) n/m +38.78% (above 0%: growing) 38.35% 6.97% Compare
NBIX Neurocrine Biosciences, Inc. $16.2B 23.0× 20.6× +41.24% (above 0%: growing) −3.67% (below 0%: shrinking) +79.00% (above 0%: growing) 97.63% 29.51% Compare
RDY Dr. Reddy's Laboratories Ltd $12.1B 44.4× 30.7× −10.09% (below 0%: shrinking) −36.84% (below 0%: shrinking) −70.49% (below 0%: shrinking) 52.13% 14.63%
ELAN Elanco Animal Health Incorporated $11.8B — (loss-making) 161× +10.23% (above 0%: growing) +450.00% (above 0%: growing) +35.56% (above 0%: growing) 58.33% 7.97% Compare
ALKS Alkermes plc $7.5B — (loss-making) — (loss-making) +21.80% (above 0%: growing) −80.60% (below 0%: shrinking) +6.78% (above 0%: growing) 80.38% 7.50% Compare
KNSA Kiniksa Pharmaceuticals International, plc $6.9B 62.1× 67.8× +58.12% (above 0%: growing) +142.20% (above 0%: growing) +43.51% (above 0%: growing) 90.29% 18.97% Compare
AMRX AMNEAL PHARMACEUTICALS, INC. $6.8B 36.9× 44.2× +9.96% (above 0%: growing) +267.00% (above 0%: growing) −50.92% (below 0%: shrinking) 38.73% 11.06% Compare
LNTH Lantheus Holdings, Inc. $6.6B 24.3× 21.3× +1.54% (above 0%: growing) −17.07% (below 0%: shrinking) +7.71% (above 0%: growing) 62.43% 8.26% Compare
HIMS Hims & Hers Health, Inc. $5.6B — (loss-making) — (loss-making) +38.25% (above 0%: growing) n/m +5.09% (above 0%: growing) 63.83% (12.90%) Compare
Median of peers $7.2B 30.6× 56.0× +16.02% +69.27% +21.64% 63.13% 8.12%

All 84 Drug Manufacturers Specialty & Generic stocks →

Dr. Reddy's Laboratories Ltd (RDY) Latest News

26 Oct

Impact 3 · · Zacks

23 Oct

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4 Aug

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27 Jul

Impact 3 · transcript

22 Jul

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16 May

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24 Apr

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20 Feb

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25 Jan

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22 Jan

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21 Jan

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14 Jan

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8 Jan

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23 Dec

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15 Dec

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8 Dec

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5 Dec

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3 Nov

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RDY metrics, ten years each

stockrow.com/RDY · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com