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Dr. Reddy's Lab

₹4685 37.1 | 0.8%

Market Cap ₹77992 Cr.

Stock P/E 17.3

P/B 3.4

Current Price ₹4685

Book Value ₹ 1398.2

Face Value 5

52W High ₹4987

Dividend Yield 0.85%

52W Low ₹ 3996.1

Dr. Reddy's Lab Research see more...

Overview Inc. Year: 1984Industry: Pharmaceuticals & Drugs

Dr. Reddy's Laboratories Limited is an India-based pharmaceutical corporation. The Company's segments consist of Global Generics, which is engaged in production and marketing prescription and over the counter finished pharmaceutical merchandise ready for consumption by patient, marketed under a brand name (branded formulations) or as usual finished dosages with healing equivalence to branded formulations (generics); Pharmaceutical Services and Active Ingredients (PSAI), which is engaged in manufacturing and advertising and marketing active pharmaceutical elements and intermediates for finished pharmaceutical merchandise; Proprietary Products, which focuses on studies and development of differentiated formulations and Others, which includes the Company's absolutely-owned subsidiary, Aurigene Discovery Technologies Ltd, which is a discovery stage biotechnology organisation growing novel and treatments in the fields of oncology and inflammation.

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Dr. Reddy's Lab Share Price

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Quarterly Price

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Dr. Reddy's Lab Quarterly Results

#(Fig in Cr.) Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
Net Sales 4942 4768 4945 5787 5338 5475 5233 6332 6790 6315
Other Income 71 83 108 206 56 122 854 41 59 139
Total Income 5012 4851 5053 5992 5394 5597 6087 6373 6849 6454
Total Expenditure 4403 3715 4211 4427 4123 5024 4292 4433 4851 4781
Operating Profit 610 1136 842 1565 1272 573 1795 1940 1997 1672
Interest 19 30 19 23 22 32 35 31 42 35
Depreciation 311 309 284 294 294 293 302 309 324 316
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 280 797 539 1248 956 248 1459 1600 1632 1322
Provision for Tax 267 258 175 277 265 162 279 499 394 369
Profit After Tax 13 539 364 971 691 87 1180 1100 1238 953
Adjustments 15 18 17 25 19 11 9 14 6 8
Profit After Adjustments 28 557 380 996 709 97 1189 1114 1244 960
Adjusted Earnings Per Share 1.7 33.5 22.9 59.8 42.6 5.8 71.5 67 74.7 57.6

Dr. Reddy's Lab Profit & Loss

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Net Sales 9815 11896 13415 15023 15568 14196 14281 15448 17517 19048 21545 24670
Other Income 132 154 196 275 295 172 155 338 621 291 485 1093
Total Income 9947 12050 13611 15298 15863 14368 14436 15786 18138 19339 22030 25763
Total Expenditure 7375 9176 10165 11530 11983 11724 11930 12270 15047 15178 17778 18357
Operating Profit 2572 2874 3446 3769 3880 2644 2506 3516 3091 4161 4252 7404
Interest 114 104 153 109 83 63 79 89 98 97 96 143
Depreciation 518 550 648 760 939 1027 1077 1135 1163 1229 1165 1251
Exceptional Income / Expenses -135 -54 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1804 2165 2646 2900 2859 1554 1350 2336 1886 2884 3061 6013
Provision for Tax 504 638 683 563 751 297 438 386 -140 932 879 1541
Profit After Tax 1301 1527 1963 2336 2108 1257 912 1950 2026 1952 2183 4471
Adjustments 0 0 0 0 23 35 34 0 0 0 0 37
Profit After Adjustments 1301 1527 1963 2336 2131 1292 947 1950 2026 1952 2183 4507
Adjusted Earnings Per Share 76.7 89.9 115.3 137.1 124.9 77.9 57 117.5 121.9 117.3 131.2 270.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 13% 12% 9% 8%
Operating Profit CAGR 2% 7% 10% 5%
PAT CAGR 12% 4% 12% 5%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 8% 4% 18% 8%
ROE Average 12% 13% 12% 18%
ROCE Average 15% 14% 13% 17%

Dr. Reddy's Lab Balance Sheet

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Shareholder's Funds 4989 6369 7865 9853 12570 12262 12572 14024 15599 17642 19212
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 1642 1266 2076 1432 1069 545 2509 2200 130 630 575
Other Non-Current Liabilities -32 19 107 247 -192 -89 30 -87 -938 -827 -1083
Total Current Liabilities 4591 5659 5790 6821 6347 8420 6894 5897 7214 8104 9766
Total Liabilities 11190 13313 15838 18353 19794 21138 22004 22034 22005 25548 28470
Fixed Assets 3412 4051 4641 5377 6563 6931 6968 7191 6850 8206 8122
Other Non-Current Assets 780 736 871 1099 1437 4524 4537 3733 2556 2792 2560
Total Current Assets 6999 8527 10326 11877 11794 9684 10498 11110 12599 14535 17788
Total Assets 11190 13313 15838 18353 19794 21138 22004 22034 22005 25548 28470

Dr. Reddy's Lab Cash Flow

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Opening Cash & Cash Equivalents 573 736 520 862 540 492 378 254 223 196 1482
Cash Flow from Operating Activities 1613 1378 1970 2524 3263 2144 1803 2870 2984 3570 2811
Cash Flow from Investing Activities -1888 -1446 -1694 -2265 -2039 -1840 -1488 -773 -492 -2266 -2639
Cash Flow from Financing Activities 389 -157 -24 -433 -1700 -369 -444 -2133 -2516 -30 -242
Net Cash Inflow / Outflow 113 -225 251 -174 -477 -65 -129 -35 -24 1275 -70
Closing Cash & Cash Equivalent 736 520 862 583 492 378 254 223 196 1482 1485

Dr. Reddy's Lab Ratios

# Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Earnings Per Share (Rs) 76.7 89.92 115.35 137.11 124.89 77.93 57.04 117.47 121.9 117.28 131.16
CEPS(Rs) 107.25 122.32 153.39 181.71 178.58 137.74 119.86 185.83 191.88 191.13 201.18
DPS(Rs) 13.75 15 18 20 20 20 20 20 25 25 30
Book NAV/Share(Rs) 290.91 371.04 457.33 572.92 731.49 734.72 752.35 840.01 932.31 1052.59 1145.98
Core EBITDA Margin(%) 24.75 22.72 24.08 23.13 23.03 17.41 16.46 20.57 14.1 20.32 17.49
EBIT Margin(%) 19.47 18.96 20.74 19.92 18.89 11.39 10.01 15.7 11.33 15.65 14.65
Pre Tax Margin(%) 18.31 18.09 19.61 19.19 18.36 10.94 9.46 15.12 10.76 15.14 14.21
PAT Margin (%) 13.2 12.76 14.55 15.47 13.54 8.86 6.39 12.62 11.57 10.25 10.13
Cash Profit Margin (%) 18.46 17.36 19.34 20.5 19.57 16.09 13.93 19.97 18.21 16.7 15.54
ROA(%) 12.99 12.46 13.47 13.67 11.05 6.14 4.23 8.86 9.2 8.21 8.08
ROE(%) 29.15 27.18 27.88 26.63 18.95 10.2 7.4 14.75 13.76 11.82 11.93
ROCE(%) 26.24 24.83 25 22.7 19.55 9.77 8.21 13.66 11.12 15.49 14.59
Receivable days 79.59 87.19 87.97 89.72 96.43 101.86 100.33 94.98 93.92 95.74 98.6
Inventory Days 65.6 62.74 62.06 60.27 60.11 69.56 73.63 74.03 71.52 77.11 81.57
Payable days 98.85 89.38 102.27 84.85 86.14 96.95 108.04 109.69 95.02 100.14 99.98
PER(x) 22.93 19.64 22.2 25.43 24.3 33.78 36.51 23.62 25.57 38.5 32.83
Price/Book(x) 6.05 4.76 5.6 6.09 4.15 3.58 2.77 3.3 3.34 4.29 3.76
Dividend Yield(%) 0.78 0.85 0.7 0.57 0.66 0.76 0.96 0.72 0.8 0.55 0.7
EV/Net Sales(x) 3.2 2.66 3.41 4.12 3.51 3.39 2.76 3.22 3.07 3.99 3.37
EV/Core EBITDA(x) 12.23 11.02 13.28 16.42 14.08 18.22 15.71 14.13 17.41 18.29 17.08
Net Sales Growth(%) 30.91 21.2 12.78 11.99 3.63 -8.81 0.6 8.17 13.39 8.74 13.11
EBIT Growth(%) 57.89 18.27 23.35 7.5 -2.24 -45.02 -11.62 69.65 -18.18 50.23 5.93
PAT Growth(%) 30.23 17.36 28.58 19.01 -9.79 -40.35 -27.43 113.72 3.9 -3.67 11.83
EPS Growth(%) 29.93 17.23 28.28 18.87 -8.92 -37.6 -26.81 105.96 3.77 -3.79 11.83
Debt/Equity(x) 0.66 0.58 0.58 0.44 0.27 0.4 0.41 0.28 0.14 0.17 0.18
Current Ratio(x) 1.52 1.51 1.78 1.74 1.86 1.15 1.52 1.88 1.75 1.79 1.82
Quick Ratio(x) 1.1 1.12 1.37 1.36 1.46 0.81 1.1 1.31 1.26 1.23 1.3
Interest Cover(x) 16.81 21.73 18.34 27.58 35.61 25.51 18.14 27.27 20.18 30.73 32.96
Total Debt/Mcap(x) 0.11 0.12 0.1 0.07 0.06 0.11 0.15 0.08 0.04 0.04 0.05

Dr. Reddy's Lab Shareholding Pattern

# Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
Promoter 26.73 26.74 26.73 26.72 26.72 26.72 26.71 26.71 26.7 26.7
FII 29.13 29.03 29.04 27.76 27.42 25.16 25.87 26.26 27.29 27.25
DII 14.73 14.9 15.74 21.4 22.29 24.78 25.19 24.7 23.38 23.05
Public 16.29 17.13 16.4 12.07 12.04 12.12 11.87 12.26 12.1 11.7
Others 13.12 12.21 12.09 12.05 11.53 11.23 10.37 10.08 10.53 11.3
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 100.14 to 99.98days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 26.7%.
  • Company has a low return on equity of 13% over the last 3 years.
  • Stock is trading at 3.4 times its book value.

* 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.

Dr. Reddy's Lab News