DRREDDY

Dr. Reddy's Laboratories share price & financials

Price
₹1,211.2
Market cap
₹1.0L Cr
Sector
Healthcare
Calls analysed
6
Latest concall · Q1 FY27 · call held 09 Jul 2026

Dr. Reddy's Laboratories Limited Q1 FY27

What went well

  • No patient safety impact associated with Semaglutide product already supplied to the market.
  • No impact on existing global regulatory filings for Semaglutide.
  • Semaglutide oral tablets are unaffected as they utilize a different API source.

What to watch

  • Temporary delay in commercial supplies of Semaglutide injection.
  • Potential write-down of inventory associated with the affected scale-up batches.
Read the full call →

What Dr. Reddy's Laboratories Limited does

Dr. Reddy's Laboratories is a global pharmaceutical company headquartered in Hyderabad that develops, manufactures and markets active pharmaceutical ingredients (APIs), generic formulations (including biosimilars), OTC/consumer-health products, innovative products and custom pharmaceutical services. It sells across three broad segments - Global Generics (branded and unbranded generic finished dosages), PSAI (Pharmaceutical Services and Active Ingredients, including a CDMO business under subsidiary Aurigene Pharmaceutical Services) and Others - with focus therapeutic areas spanning Oncology, Central Nervous System, Pain Management, Gastro-Intestinal and Cardiovascular. Its largest markets are the USA, India, Russia & CIS, China, Brazil and Europe, supplemented by an oncology-focused R&D subsidiary, Aurigene Oncology, and a consumer-health (NRT) portfolio integrated across more than 30 countries.

Segments

  • Global Generics
  • PSAI (Pharmaceutical Services and Active Ingredients)
  • Others
Countries served
88
Manufacturing facilities globally
24
Employees globally
27,527
R&D facilities
5 state-of-the-art centres
R&D scientists
2,769
Nationalities in workforce
64
Founded 1984Headquarters Hyderabad, Telangana, IndiaEmployees 27,527 (March 31, 2026) Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 2 delivered 4 missed 8 open
  • Semaglutide Launch (Canada) delivered said Q1 FY26 Promised: Beginning of January 2026 Q1 FY27: Promise was previously achieved. No new information.
  • SG&A Spend as % of Sales went quiet said Q1 FY26 Promised: 28 to 29%, not a 30% Q1 FY27: Promise period has passed. No new information.
  • Semaglutide Pen Capacity revised down said Q1 FY26 Promised: 12 million pens in FY27 Q1 FY27: Due to an API impurity issue halting supply, the FY27 target is now revised down to 6-7 million pens, to be supplied in H2 FY27. This is a significant downward revision from the original 12 million pen target for FY27.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q4 FY26: revenue down 11.5%, net profit down 86.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
Revenue7,696 8,038 8,381 8,528 8,572 +11%8,828 +10%8,753 +4%7,546 −12%
EBITDA2,130 2,076 2,273 1,998 2,174 +2%2,010 −3%1,888 −17%382 −81%
Net profit1,392 1,342 1,404 1,587 1,410 +1%1,337 −0%1,190 −15%221 −86%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −10.6% 1Y

₹1.1k₹1.2k₹1.3k₹1.3k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 24 Oct 2025Q2 FY26 — 28 Oct 2025Q4 FY26 — 12 May 2026Q1 FY27 — 9 Jul 2026

1Y: ₹1,304.2 on 10 Sept 2025 → ₹1,165.5. High ₹1,375.7 (29 Jun 2026), low ₹1,135.6 (28 Jul 2026).

How the price took the results

close before → close after

Q1 FY27
−5.9%
9 Jul
Q4 FY26
−1.8%
12 May
Q2 FY26
+0.3%
24 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 11.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 19.2%.

Year endingFY23FY24FY25FY26
Revenue₹24.7k Cr₹28.0k Cr₹32.6k Cr₹33.7k Cr
Operating profit₹6.3k Cr₹7.9k Cr₹8.5k Cr₹6.5k Cr
Operating margin25.6%28.3%26.0%19.2%
Interest₹143 Cr₹170 Cr₹284 Cr₹374 Cr
Depreciation₹1.3k Cr₹1.5k Cr₹1.7k Cr₹2.1k Cr
Net profit₹4.5k Cr₹5.6k Cr₹5.7k Cr₹4.2k Cr
Net margin18.3%19.9%17.5%12.3%
Cash from operations₹5.9k Cr₹4.5k Cr₹4.6k Cr₹5.7k Cr
Free cash flow₹4.0k Cr₹1.9k Cr₹1.3k Cr₹2.0k Cr
ROCE27.0%27.0%23.0%13.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹83 Cr₹83 Cr₹83 Cr₹83 Cr₹84 Cr₹84 Cr
Reserves₹17.6k Cr₹19.1k Cr₹23.2k Cr₹28.2k Cr₹35.9k Cr₹37.8k Cr
Borrowings₹3.0k Cr₹3.4k Cr₹1.3k Cr₹2.0k Cr₹5.9k Cr₹7.7k Cr
Other liabilities₹5.9k Cr₹7.1k Cr₹7.6k Cr₹8.5k Cr₹12.5k Cr₹11.0k Cr
Total liabilities₹26.6k Cr₹29.7k Cr₹32.2k Cr₹38.8k Cr₹54.4k Cr₹56.6k Cr
Fixed assets₹8.2k Cr₹8.1k Cr₹9.2k Cr₹10.4k Cr₹20.6k Cr₹22.1k Cr
Capital work in progress₹1.6k Cr₹1.3k Cr₹1.0k Cr₹1.4k Cr₹2.0k Cr₹1.5k Cr
Investments₹2.2k Cr₹2.6k Cr₹5.0k Cr₹4.9k Cr₹4.7k Cr₹5.3k Cr
Other assets₹14.6k Cr₹17.7k Cr₹17.0k Cr₹22.0k Cr₹27.1k Cr₹27.8k Cr
Total assets₹26.6k Cr₹29.7k Cr₹32.2k Cr₹38.8k Cr₹54.4k Cr₹56.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +5.02 pp while FIIs trimmed −4.66 pp. The shareholder count shrank 1% to 4,46,086.

Promoters
26.6%
FIIs
20.7%
DIIs
31.8%
Public
20.8%
Others
0.2%

Since Jun 2025

  • DIIs +5.02 pp
  • FIIs −4.66 pp
  • Public −0.28 pp

How it drifted, 12 quarters

Over this window DIIs went from 21.0% to 31.8% — +10.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 26.7%, FIIs 28.2%, DIIs 21.0%, Public 23.9%, Others 0.2%.Dec '23: Promoters 26.6%, FIIs 28.6%, DIIs 18.6%, Public 25.9%, Others 0.2%.Mar '24: Promoters 26.6%, FIIs 29.1%, DIIs 18.3%, Public 25.7%, Others 0.2%.Jun '24: Promoters 26.6%, FIIs 27.7%, DIIs 20.7%, Public 24.8%, Others 0.2%.Sep '24: Promoters 26.6%, FIIs 27.5%, DIIs 21.5%, Public 24.2%, Others 0.2%.Dec '24: Promoters 26.6%, FIIs 26.9%, DIIs 22.9%, Public 23.5%, Others 0.2%.Mar '25: Promoters 26.6%, FIIs 25.8%, DIIs 25.6%, Public 21.7%, Others 0.3%.Jun '25: Promoters 26.6%, FIIs 25.3%, DIIs 26.7%, Public 21.0%, Others 0.3%.Sep '25: Promoters 26.6%, FIIs 24.7%, DIIs 28.0%, Public 20.4%, Others 0.3%.Dec '25: Promoters 26.6%, FIIs 22.3%, DIIs 30.4%, Public 20.3%, Others 0.3%.Mar '26: Promoters 26.6%, FIIs 21.1%, DIIs 30.7%, Public 21.3%, Others 0.2%.Jun '26: Promoters 26.6%, FIIs 20.7%, DIIs 31.8%, Public 20.8%, Others 0.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Dr. Reddy's Laboratories Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Life Insurance Corporation Of India - P & Gs Fund Insurer12.16%unchanged
GVP Family Trust 11.51%unchanged
Jp Morgan Chase Bank, Na 11.41%−0.53 pp
VSD Family Trust 9.06%unchanged
ICICI Prudential Value Discovery Fund Mutual fund4.41%+0.40 pp
Kallam Satish Reddy Huf 3.31%unchanged
NPS Trust-A/C SBI Pension Fund Scheme Tax Saver-Tier 2 Pension / PF3.15%+0.38 pp
Nippon Life India Trustee Ltd-A/C-Nippon India Nifty 50 Value 20 Index Fund Mutual fund1.88%−0.54 pp
Parag Parikh Flexi Cap Fund Mutual fund1.76%unchanged
Gunupati Venkateswara Prasad Huf 1.52%unchanged
SBI Nifty Index Fund Mutual fund1.43%−0.05 pp
Satish Reddy Kallam 1.21%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in DRREDDY

Filings to Aug 2026

0 new, 15 added, 5 trimmed, 1 sold out — net +4.00 L shares (+1.4%).

Held by funds
₹3.3k Cr
29 schemes
Biggest holder
SBI Nifty 50 ETF
₹1.4k Cr · 0.6% of that fund
SchemeHoldingLast month
SBI Nifty 50 ETF SBI Mutual Fund₹1.4k Cr+0.62 L
Nippon India Pharma Fund Nippon India Mutual Fund₹468 Crheld
Nippon India Large Cap Fund Nippon India Mutual Fund₹462 Crheld
Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund₹428 Cr+0.75 L
Nippon India Nifty Pharma ETF Nippon India Mutual Fund₹122 Cr+0.18 L
HDFC Balanced Advantage Fund HDFC Mutual Fund₹115 Crheld
SBI Nifty Index Fund SBI Mutual Fund₹89 Cr+0.03 L
Nippon India Flexi Cap Fund Nippon India Mutual Fund₹64 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

15 added, 5 trimmed — net +4.00 L shares (+1.4%)

Funds are sitting on
+13%
vs est. average cost
Held by funds
₹3.3k Cr
29 schemes · ≈ 3.4% of the company
Biggest holder
SBI Nifty 50 ETF
₹1.4k Cr · 0.6% of that fund
Longest holder
Nippon India Pharma Fund
14y · since Sep '12

Shares held by these funds +3%

Aug '23 2.88 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹1166, this stock must grow earnings at 19% every year for 7 years. Our analysis caps realistic growth at ~2%. At that growth it is worth ₹495 — downside of 58%.

Growth the price implies
18.5% a year
for 7 years, fading to 4%
It has actually compounded at
2.3% a year
net profit, FY23–FY26 · EPS 2.5%
The gap
0.2 pp
-58% downside if it only repeats history
Price today ₹1,165.5 Value at the reference growth ₹494.52

Change the assumptions yourself →

All earnings calls (5)

Read the Q1 FY27 call →

Learn to analyse Dr. Reddy's Laboratories Limited

Guides on how to read this kind of business and the numbers that matter.