Dr. Reddy's Lab

₹5424.8 -70.1 | 1.3%

WEBSITE BSE:500124 NSE : DR.REDDY'S 28 Sep, 15:40

Market Cap ₹90477 Cr.

Stock P/E 19.1

P/B 3.7

Current Price ₹5424.8

Book Value ₹ 1471.5

Face Value 5

52W High ₹5986.2

Dividend Yield 0.74%

52W Low ₹ 4176.9

Edit Ratio

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.

Dr. Reddy's Lab Share Price

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Peer Comparison

Dr. Reddy's Lab Quarterly Results

#(Fig in Cr.)	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
Net Sales	4768	4945	5787	5338	5475	5233	6332	6790	6315	6758
Other Income	83	108	206	56	122	854	41	59	139	174
Total Income	4851	5053	5992	5394	5597	6087	6373	6849	6454	6932
Total Expenditure	3715	4211	4427	4123	5024	4292	4433	4851	4781	4696
Operating Profit	1136	842	1565	1272	573	1795	1940	1997	1672	2236
Interest	30	19	23	22	32	35	31	42	35	37
Depreciation	309	284	294	294	293	302	309	324	316	353
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	797	539	1248	956	248	1459	1600	1632	1322	1846
Provision for Tax	258	175	277	265	162	279	499	394	369	445
Profit After Tax	539	364	971	691	87	1180	1100	1238	953	1401
Adjustments	18	17	25	19	11	9	14	6	8	4
Profit After Adjustments	557	380	996	709	97	1189	1114	1244	960	1405
Adjusted Earnings Per Share	33.5	22.9	59.8	42.6	5.8	71.5	67	74.7	57.6	84.3

Dr. Reddy's Lab Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	11896	13415	15023	15568	14196	14281	15448	17517	19048	21545	24670	26195
Other Income	154	196	275	295	172	155	338	621	291	485	1056	413
Total Income	12050	13611	15298	15863	14368	14436	15786	18138	19339	22030	25725	26608
Total Expenditure	9176	10165	11530	11983	11724	11930	12270	15047	15178	17778	18321	18761
Operating Profit	2874	3446	3769	3880	2644	2506	3516	3091	4161	4252	7405	7845
Interest	104	153	109	83	63	79	89	98	97	96	143	145
Depreciation	550	648	760	939	1027	1077	1135	1163	1229	1165	1250	1302
Exceptional Income / Expenses	-54	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2165	2646	2900	2859	1554	1350	2336	1886	2884	3061	6049	6400
Provision for Tax	638	683	563	751	297	438	386	-140	932	879	1541	1707
Profit After Tax	1527	1963	2336	2108	1257	912	1950	2026	1952	2183	4507	4692
Adjustments	0	0	0	23	35	34	0	0	0	0	0	32
Profit After Adjustments	1527	1963	2336	2131	1292	947	1950	2026	1952	2183	4507	4723
Adjusted Earnings Per Share	89.9	115.3	137.1	124.9	77.9	57	117.5	121.9	117.3	131.2	270.5	283.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	15%	12%	12%	8%
Operating Profit CAGR	74%	34%	24%	10%
PAT CAGR	106%	31%	38%	11%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	27%	2%	16%	9%
ROE Average	21%	15%	15%	17%
ROCE Average	26%	19%	16%	17%

Dr. Reddy's Lab Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	6369	7865	9853	12570	12262	12572	14024	15599	17642	19212	23286
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	1266	2076	1432	1069	545	2509	2200	130	630	575	128
Other Non-Current Liabilities	19	107	247	-192	-89	30	-87	-938	-827	-1083	-406
Total Current Liabilities	5659	5790	6821	6347	8420	6894	5897	7214	8104	9766	8572
Total Liabilities	13313	15838	18353	19794	21138	22004	22034	22005	25548	28470	31580
Fixed Assets	4051	4641	5377	6563	6931	6968	7191	6850	8206	8122	9219
Other Non-Current Assets	736	871	1099	1437	4524	4537	3733	2556	2792	2561	2045
Total Current Assets	8527	10326	11877	11794	9684	10498	11110	12599	14535	17788	20316
Total Assets	13313	15838	18353	19794	21138	22004	22034	22005	25548	28470	31580

Dr. Reddy's Lab Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	736	520	862	540	492	378	254	223	196	1482	1485
Cash Flow from Operating Activities	1378	1970	2524	3263	2144	1803	2870	2984	3570	2811	5888
Cash Flow from Investing Activities	-1446	-1694	-2265	-2039	-1840	-1488	-773	-492	-2266	-2639	-4137
Cash Flow from Financing Activities	-157	-24	-433	-1700	-369	-444	-2133	-2516	-30	-242	-2686
Net Cash Inflow / Outflow	-225	251	-174	-477	-65	-129	-35	-24	1275	-70	-936
Closing Cash & Cash Equivalent	520	862	583	492	378	254	223	196	1482	1485	578

Dr. Reddy's Lab Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	89.92	115.35	137.11	124.89	77.93	57.04	117.47	121.9	117.28	131.16	270.55
CEPS(Rs)	122.32	153.39	181.71	178.58	137.74	119.86	185.83	191.88	191.13	201.18	345.59
DPS(Rs)	15	18	20	20	20	20	20	25	25	30	40
Book NAV/Share(Rs)	371.04	457.33	572.92	731.49	734.72	752.35	840.01	932.31	1052.59	1145.98	1388.98
Core EBITDA Margin(%)	22.72	24.08	23.13	23.03	17.41	16.46	20.57	14.1	20.32	17.49	25.74
EBIT Margin(%)	18.96	20.74	19.92	18.89	11.39	10.01	15.7	11.33	15.65	14.65	25.1
Pre Tax Margin(%)	18.09	19.61	19.19	18.36	10.94	9.46	15.12	10.76	15.14	14.21	24.52
PAT Margin (%)	12.76	14.55	15.47	13.54	8.86	6.39	12.62	11.57	10.25	10.13	18.27
Cash Profit Margin (%)	17.36	19.34	20.5	19.57	16.09	13.93	19.97	18.21	16.7	15.54	23.34
ROA(%)	12.46	13.47	13.67	11.05	6.14	4.23	8.86	9.2	8.21	8.08	15.01
ROE(%)	27.18	27.88	26.63	18.95	10.2	7.4	14.75	13.76	11.82	11.93	21.36
ROCE(%)	24.83	25	22.7	19.55	9.77	8.21	13.66	11.12	15.49	14.59	26.22
Receivable days	87.19	87.97	89.72	96.43	101.86	100.33	94.98	93.92	95.74	98.6	103.01
Inventory Days	62.74	62.06	60.27	60.11	69.56	73.63	74.03	71.52	77.11	81.57	73.65
Payable days	89.38	102.27	84.85	86.14	96.95	108.04	109.69	95.02	100.14	99.98	108.07
PER(x)	19.64	22.2	25.43	24.3	33.78	36.51	23.62	25.57	38.5	32.83	17.08
Price/Book(x)	4.76	5.6	6.09	4.15	3.58	2.77	3.3	3.34	4.29	3.76	3.33
Dividend Yield(%)	0.85	0.7	0.57	0.66	0.76	0.96	0.72	0.8	0.55	0.7	0.87
EV/Net Sales(x)	2.66	3.41	4.12	3.51	3.39	2.76	3.22	3.07	3.99	3.37	3.11
EV/Core EBITDA(x)	11.02	13.28	16.42	14.08	18.22	15.71	14.13	17.41	18.29	17.08	10.35
Net Sales Growth(%)	21.2	12.78	11.99	3.63	-8.81	0.6	8.17	13.39	8.74	13.11	14.5
EBIT Growth(%)	18.27	23.35	7.5	-2.24	-45.02	-11.62	69.65	-18.18	50.23	5.93	96.1
PAT Growth(%)	17.36	28.58	19.01	-9.79	-40.35	-27.43	113.72	3.9	-3.67	11.83	106.52
EPS Growth(%)	17.23	28.28	18.87	-8.92	-37.6	-26.81	105.96	3.77	-3.79	11.83	106.27
Debt/Equity(x)	0.58	0.58	0.44	0.27	0.4	0.41	0.28	0.14	0.17	0.18	0.06
Current Ratio(x)	1.51	1.78	1.74	1.86	1.15	1.52	1.88	1.75	1.79	1.82	2.37
Quick Ratio(x)	1.12	1.37	1.36	1.46	0.81	1.1	1.31	1.26	1.23	1.3	1.8
Interest Cover(x)	21.73	18.34	27.58	35.61	25.51	18.14	27.27	20.18	30.73	32.96	43.36
Total Debt/Mcap(x)	0.12	0.1	0.07	0.06	0.11	0.15	0.08	0.04	0.04	0.05	0.02

Dr. Reddy's Lab Shareholding Pattern

#	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
Promoter	26.74	26.73	26.72	26.72	26.72	26.71	26.71	26.7	26.7	26.69
FII	29.03	29.04	27.76	27.42	25.16	25.87	26.26	27.29	27.25	27
DII	14.9	15.74	21.4	22.29	24.78	25.19	24.7	23.38	23.05	21.99
Public	17.13	16.4	12.07	12.04	12.12	11.87	12.26	12.1	11.7	11.78
Others	12.21	12.09	12.05	11.53	11.23	10.37	10.08	10.53	11.3	12.54
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
Promoter	4.45	4.45	4.45	4.45	4.45	4.45	4.45	4.45	4.45	4.45
FII	4.83	4.83	4.62	4.56	4.19	4.31	4.37	4.54	4.54	4.5
DII	2.48	2.62	3.56	3.71	4.12	4.19	4.11	3.89	3.84	3.66
Public	2.85	2.73	2.01	2	2.02	1.98	2.04	2.01	1.95	1.96
Others	2.03	2.01	2	1.92	1.87	1.73	1.68	1.75	1.88	2.09
Total	16.63	16.64	16.64	16.64	16.64	16.64	16.65	16.65	16.65	16.66

Pros

Company has delivered good profit growth of 37% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 26.69%.
Debtor days have increased from 99.98 to 108.07days.
Stock is trading at 3.7 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.