Dr. Reddy's Laboratories Ltd. (RDY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 25	$17.1	$19.1	+11.6%	—	$85.1B	—
Q3 25	$16.1	$16.9	+4.9%	—	$919.9M	—
Q2 25	$17.7	$15.8	-10.5%	—	$904.4M	—
Q1 25	$17.1	$16.7	-2.5%	—	$76.7B	—
Q4 24	$13.6	$15.5	+14.7%	—	$70.8B	—
Q3 24	$13.3	$16.6	+25.5%	—	$72.1B	—
Q2 24	$11.6	$17.8	+53.5%	—	$68.8B	—
Q1 24	$10.5	$16.9	+60.3%	—	$67.4B	—
Q4 23	$10.9	$12	+10.1%	—	$63B	—
Q3 23	$9.55	$14.8	+55.4%	—	$67.7B	—
Q2 23	$9.39	$13.5	+43.8%	—	$63.1B	—
Q1 23	$8.37	$14.3	+71.2%	—	$52.2B	—
Q4 22	$8.43	$4.24	-49.7%	—	$54.4B	—
Q3 22	$12.8	$8.55	-33.4%	—	$53.2B	—
Q2 22	$9.54	$12	+25.8%	—	$57.6B	—
Q1 22	$9.82	$6.85	-30.2%	—	$49.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$51.5	—	—	$335.9B	—
FY25	—	$67.9	—	—	$325.5B	—
FY24	—	$66.9	—	—	$279.2B	—
FY23	—	$54.3	—	—	$245.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$140.8B	$142B	$153.9B	$174.6B	$189.7B	$214.4B	$245.9B	$279.2B	$325.5B	$335.9B
YoY change	-8.98%	+0.87%	+8.32%	+13.5%	+8.66%	+13%	+14.7%	+13.5%	+16.6%	+3.19%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	140.8B	142B	153.9B	174.6B	189.7B	214.4B	245.9B	279.2B	325.5B	335.9B
Cost of revenue	62.5B	65.7B	70.4B	80.6B	86.6B	100.6B	106.5B	115.6B	135.1B	158.7B
Gross profit	78.4B	76.3B	83.4B	94B	103.1B	113.8B	139.3B	163.6B	190.4B	177.3B
Gross margin	55.6%	53.7%	54.2%	53.8%	54.3%	53.1%	56.7%	58.6%	58.5%	52.8%
Research & development	19.6B	18.3B	15.6B	15.4B	16.5B	17.5B	19.4B	22.9B	27.4B	24.1B
Selling, general & administrative	46.4B	46.9B	48.7B	50.1B	54.6B	62.1B	68B	77.2B	93.9B	106.8B
Operating expenses	64.8B	64.3B	63.6B	61.2B	70.2B	77.9B	80.3B	98.3B	118.4B	127.1B
Operating income	13.6B	12B	19.8B	32.8B	32.9B	35.9B	59.1B	65.3B	72B	50.1B
Operating margin	9.64%	8.47%	12.9%	18.8%	17.3%	16.8%	24%	23.4%	22.1%	14.9%
Non-operating income, net	1.2B	2.6B	2.7B	-14.6B	-6.4B	-3.6B	1.6B	6B	4.9B	4.7B
Pretax income	14.7B	14.3B	22.4B	18B	26.4B	32.3B	60.4B	71.9B	76.8B	54.8B
Income tax	2.6B	4.5B	3.6B	-1.5B	9.2B	8.7B	15.3B	16.2B	19.5B	12.4B
Net income	12B	9.8B	18.8B	19.5B	17.2B	23.6B	45.1B	55.7B	57.2B	42.5B
Net margin	8.55%	6.9%	12.2%	11.2%	9.09%	11%	18.3%	19.9%	17.6%	12.6%
EBITDA	25.8B	24.6B	33.2B	46.7B	47B	49.4B	73.2B	82.6B	92B	74.6B
EPS	14.5	11.8	22.7	23.5	20.8	28.4	54.3	66.9	67.9	51.5
Diluted EPS	14.4	11.8	22.6	23.5	20.7	28.3	54.2	66.8	67.8	51.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	68.8B	72.1B	70.8B	76.7B	904.4M	919.9M	85.1B	85.5B	88.1B	87.3B	75.2B	80.7B
Cost of revenue	28.4B	29.9B	29.3B	30.4B	365.5M	380M	37.8B	—	—	—	—	43.2B
Gross profit	40.4B	42.2B	41.5B	46.3B	539M	539.8M	47.3B	48.6B	48.1B	46.8B	43B	37.5B
Gross margin	58.7%	58.5%	58.6%	60.4%	59.6%	58.7%	55.6%	56.9%	54.7%	53.6%	57.3%	46.5%
Research & development	5.4B	5.6B	6.9B	6.2B	82M	73.3M	7.3B	6.2B	6.2B	6.1B	—	5.8B
Selling, general & administrative	18.8B	20.2B	20.5B	22.7B	259.6M	265.4M	24.1B	23.2B	26.4B	26.9B	14.5B	26.1B
Operating expenses	22.9B	25.3B	28.2B	28.4B	330.5M	333.9M	29.9B	29.3B	30.3B	32.5B	36.6B	31.8B
Operating income	17.5B	16.9B	13.3B	17.9B	208.4M	205.9M	17.3B	16.8B	17.9B	14.3B	829M	3B
Operating margin	25.4%	23.4%	18.7%	23.3%	23%	22.4%	20.4%	19.7%	20.3%	16.4%	1.1%	3.76%
Non-operating income, net	1.3B	1.2B	2.7B	71M	-9.7M	1.6M	2.8B	1.9B	478M	1.2B	2.2B	2.7B
Pretax income	19.1B	18.3B	16B	18.8B	216.3M	206.3M	20.1B	19B	18.4B	15.4B	2B	5.5B
Income tax	4.3B	4.5B	2.9B	4.9B	64.9M	51.8M	4.2B	5B	4.1B	3.5B	-216M	1.2B
Net income	14.8B	13.8B	13.1B	13.9B	151.4M	154.5M	15.9B	14.1B	14.3B	11.9B	2.2B	4.3B
Net margin	21.5%	19.1%	18.5%	18.1%	16.7%	16.8%	18.7%	16.5%	16.2%	13.6%	2.94%	5.39%
EBITDA	22B	21.3B	17.7B	21.7B	280.1M	266M	22.5B	23.4B	23.9B	20.4B	11.2B	9.8B
EPS	3.56	16.6	78.7	16.7	3.01	17	19.1	17	17.3	14.5	2.65	5.32
Diluted EPS	3.55	16.5	78.5	16.7	3.01	16.9	19.1	17	17.3	14.5	2.65	5.32

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	576.8B	469.9B	582.4B	579.5B	882.5B	801.3B	819.3B	—	11B	11.5B	10.4B
Enterprise value	607.8B	499.7B	596.1B	575.9B	878.2B	790.7B	771B	—	-155M	1.1B	573.5M
Shares outstanding	71.8B	71.9B	71.9B	71.8B	71.9B	71.9B	72B	832M	833M	832.4M	832.4M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	47.9	47.9	31	29.7	51.2	34	18.2	—	0.19	0.27	29.2
P/S	4.1	3.31	3.79	3.32	4.65	3.74	3.33	—	0.03	0.03	0.03
P/B	4.65	3.72	4.15	3.74	5.1	4.21	3.55	—	0.03	0.03	15.3
EV/EBITDA	23.6	20.3	17.9	12.3	18.7	16	10.5	—	-0	0.01	1
EV/Sales	4.32	3.52	3.87	3.3	4.63	3.69	3.14	—	-0	0	0.17
Earnings yield	2.09%	2.09%	3.23%	3.36%	1.95%	2.94%	5.5%	—	521%	368.3%	3.43%
FCF yield	-3.38%	1.49%	3.49%	4.09%	2.62%	1.13%	4.88%	—	109.5%	159%	-0.39%
PEG	—	—	—	—	—	—	—	—	—	—	-0.42

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	55.6%	53.7%	54.2%	53.8%	54.3%	53.1%	56.7%	58.6%	58.5%	52.8%	46.5%
Operating margin	9.64%	8.47%	12.9%	18.8%	17.3%	16.8%	24%	23.4%	22.1%	14.9%	4.25%
Net margin	8.55%	6.9%	12.2%	11.2%	9.09%	11%	18.3%	19.9%	17.6%	12.6%	10%
ROE	9.71%	7.75%	13.4%	12.6%	9.96%	12.4%	19.5%	19.8%	17%	11.2%	8.84%
ROA	5.48%	4.35%	8.34%	8.4%	6.49%	8.05%	14%	14.4%	11.6%	7.33%	4.01%
ROIC	7.19%	5.26%	10.8%	21.7%	12.7%	14.6%	24.1%	23.1%	16.5%	10.5%	7.57%
Return on tangible assets	9.83%	7.64%	14.6%	11.5%	9.31%	10.3%	17.9%	18.3%	20.8%	12.4%	9.56%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.18	1.57	1.92	1.79	1.78	1.93	2.38	2.58	1.92	1.8	1.9
Quick ratio	0.85	1.16	1.36	1.31	1.23	1.39	1.81	1.92	1.37	1.35	1.39
Debt / equity	0.4	0.4	0.27	0.14	0.18	0.18	0.06	0.07	0.14	0.2	0.19
Debt / assets	0.22	0.22	0.17	0.1	0.11	0.12	0.04	0.05	0.09	0.13	0.13
Net debt / EBITDA	1.21	1.21	0.41	-0.08	-0.09	-0.21	-0.66	-0.74	-0.12	-0.14	-0.15
Interest coverage	24.1	19.2	26.2	19.3	28.2	34.7	43.3	43	28.1	15.7	10.9
Effective tax rate	17.8%	31.6%	16.3%	0%	34.7%	27%	25.3%	22.5%	25.4%	22.5%	20.8%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	1.96	1.98	2.14	2.43	2.64	2.98	3.42	335.5	390.8	403.6	66.4
EPS (basic)	14.5	11.8	22.7	23.5	20.8	28.4	54.3	66.9	67.9	51.5	51.5
EPS (diluted)	14.4	11.8	22.6	23.5	20.7	28.3	54.2	66.8	67.8	51.4	0.42
Book value per share	1.73	1.76	1.95	2.16	2.41	2.65	3.21	337.2	404.8	457	0.8
FCF per share	-0.27	0.1	0.28	0.33	0.32	0.13	0.56	21.6	14.4	22	11.1
Cash per share	0.25	0.29	0.34	0.36	0.48	0.62	0.86	97.9	69.5	105.5	16.3
Capex per share	0	0	0.02	0	0	0.2	0.16	18.4	32.4	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	0.03%	0.1%	0.82%	0.08%	0.04%	6.67%	4.57%	5.49%	8.29%	—	—
Capex / operating cash flow	0.23%	0.66%	3.46%	0.6%	0.32%	65.6%	17.1%	24.4%	42.1%	—	—
Payout ratio	28.2%	40.7%	21.3%	20.1%	24.1%	17.6%	11%	11.9%	11.6%	15.7%	20.2%
Dividend yield	0.59%	0.85%	0.69%	0.68%	0.47%	0.52%	0.61%	—	60.6%	57.8%	2.65%

Yield

2.65%

trailing twelve months

Frequency

Annual

Last dividend

$0.083

ex-dividend Jul 24, 2026

Payout ratio

20%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 24, 2026	$0.083
Jul 25, 2025	$0.091
Jul 30, 2024	$0.0958
Jul 28, 2023	$0.0975
Jul 7, 2023	$0.0975
Aug 1, 2022	$0.0757
Jul 8, 2022	$0.0155
Jul 30, 2021	$0.0134

Split history

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$68.8B	$72.1B	$70.8B	$76.7B	$904.4M	$919.9M	$85.1B	$85.5B	$88.1B	$87.3B	$75.2B	$80.7B
YoY change	+9.11%	+6.57%	+12.5%	+13.9%	-98.7%	-98.7%	+20.1%	+11.4%	+9.6K%	+9.4K%	-11.6%	-5.56%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	18.1B	21B	24.8B	25.7B	34.6B	44.4B	61.8B	81.5B	57.9B	87.8B
Receivables	38.1B	40.6B	39.9B	50.3B	49.6B	66.8B	72.5B	80.3B	90.4B	101.2B
Inventory	28.5B	29.1B	33.6B	35.1B	45.4B	50.9B	48.7B	63.6B	71.1B	76.5B
Total current assets	100.4B	109.6B	114.5B	130.4B	148.2B	181.9B	204.3B	248B	250.1B	302B
Property, plant & equipment	35.9B	35.4B	31B	27.4B	29.6B	33.7B	36.7B	43.9B	63.1B	71.1B
Goodwill & intangibles	97.4B	97.2B	96.5B	63.3B	80.4B	63.3B	70.2B	82.4B	217.2B	235.9B
Total assets	219.8B	225.6B	225.4B	232.2B	265.5B	292.8B	321.9B	387.5B	493B	579.3B
Accounts payable	—	9.2B	10.3B	10.7B	12.7B	16B	17.9B	21.5B	20.1B	22.4B
Short-term debt	43.7B	25.6B	16.4B	20.8B	24B	28.1B	12.2B	14B	38.9B	65.1B
Total current liabilities	85B	69.7B	59.7B	72.8B	83.4B	94B	85.8B	96B	130.4B	167.6B
Long-term debt	5.4B	25.1B	22B	1.3B	6.3B	5.7B	1.3B	6B	7.9B	12.2B
Total liabilities	95.8B	99.1B	85.2B	77.3B	92.4B	102.3B	90.9B	107B	155.8B	198.9B
Shareholders' equity	124B	126.5B	140.2B	155B	173.1B	190.5B	231B	280.6B	337.2B	380.5B
Total debt	49.2B	50.7B	38.4B	22.1B	30.3B	33.8B	13.5B	20B	46.8B	77.3B
Net debt	45.3B	48.1B	36.2B	20B	15.5B	19B	7.7B	12.9B	32.1B	62B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	67.8B	72.4B	81.5B	94.6B	711.6M	651.3M	57.9B	66.7B	69.8B	82.6B	87.8B	81.4B
Receivables	69.7B	78.4B	80.3B	81.1B	952.2M	1B	90.4B	95.1B	97.7B	103.2B	101.2B	100.6B
Inventory	56.6B	60.8B	63.6B	68.6B	812.8M	788.3M	71.1B	75.6B	75.8B	79B	76.5B	80.5B
Total current assets	217.7B	238.5B	248B	269.2B	2.8B	2.8B	250.1B	269.9B	279.5B	297.5B	302B	299.3B
Property, plant & equipment	—	—	43.9B	—	—	—	63.1B	—	—	—	71.1B	—
Goodwill & intangibles	82.6B	82.4B	82.4B	82.7B	2.3B	2.3B	217.2B	215.1B	226.5B	229.5B	235.9B	232.9B
Total assets	347B	372.8B	387.5B	415.3B	5.3B	5.3B	493B	519.5B	542B	562.9B	579.3B	575.3B
Accounts payable	30.5B	31.1B	21.5B	34.1B	403.7M	396.4M	20.1B	37.5B	40.2B	40.8B	22.4B	37.5B
Short-term debt	7.2B	13.7B	14B	24.4B	464.6M	478.8M	38.9B	43.5B	46.9B	56.1B	65.1B	60.1B
Total current liabilities	84.2B	93.6B	96B	105.7B	1.5B	1.5B	130.4B	142.6B	150.9B	158.3B	167.6B	157.3B
Long-term debt	6B	6.2B	6B	6.2B	83.1M	83.4M	7.9B	5.1B	11.6B	11.6B	12.2B	11.9B
Total liabilities	93.9B	105B	107B	120.7B	1.8B	1.8B	155.8B	165.8B	179.9B	187.1B	198.9B	188.6B
Shareholders' equity	253.1B	267.9B	280.6B	294.6B	3.5B	3.5B	337.2B	353.8B	362.1B	375.8B	380.5B	386.7B
Total debt	13.2B	19.9B	20B	30.7B	547.7M	562.2M	46.8B	48.6B	58.5B	67.7B	77.3B	72B
Net debt	-161M	12.5B	12.9B	25.8B	419.8M	426.9M	32.1B	39.6B	48.6B	49.1B	62B	60.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	12B	9.8B	18.8B	19.5B	17.2B	23.6B	45.1B	55.7B	57.2B	42.5B
Depreciation & amortization	11.3B	11.7B	12.2B	12.5B	12.8B	11.8B	12.6B	14.8B	17.1B	20.6B
Stock-based compensation	350M	454M	389M	521M	584M	592M	397M	407M	424M	326M
Change in working capital	-7.2B	-5.8B	1.4B	-9.1B	-13.6B	-22.9B	-7.9B	-23.6B	-30.3B	-11.6B
Operating cash flow	19.2B	20.9B	36.6B	22B	26.4B	21.8B	65.8B	62.9B	64.1B	56.8B
Capital expenditure	44M	139M	1.3B	131M	85M	-14.3B	-11.2B	-15.3B	-27B	—
Investing cash flow	21.9B	-4.3B	-1B	-83M	-11.3B	-25.8B	-34.6B	-31.1B	-55.3B	-30.3B
Dividends paid	-3.4B	-4B	-4B	-3.9B	-4.1B	-4.1B	-5B	-6.6B	-6.7B	-6.7B
Share repurchases	-15.7B	0	-535M	-474M	-1.2B	0	—	—	-1.4B	0
Financing cash flow	-2.8B	-3.1B	-34.8B	-23.6B	1B	-1.1B	-25B	-1.5B	22.4B	12.7B
Net change in cash	38.3B	13.6B	718M	-1.6B	16.1B	-5.1B	6.2B	30.4B	31.2B	39.2B
Free cash flow	-19.5B	7B	20.3B	23.7B	23.1B	9.1B	40B	18B	12B	18.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	14.8B	13.8B	13.1B	13.9B	151.4M	154.5M	15.9B	14.1B	14.3B	11.9B	2.2B	4.3B
Depreciation & amortization	3.8B	3.8B	3.7B	3.8B	44.8M	51.9M	4.6B	—	—	—	—	5.4B
Stock-based compensation	103M	99M	97M	101M	1.2M	1.1M	113M	112M	100M	20M	94M	97M
Change in working capital	265M	-12.2B	-1.3B	-15.6B	-105.7M	-91.5M	3B	-14.4B	-5.2B	-6.5B	11.6B	-16.3B
Operating cash flow	22.9B	9.7B	18.5B	7B	157.7M	169.1M	27.8B	4.5B	15.6B	10.9B	15.6B	-927M
Capital expenditure	-3.2B	-3.3B	-16.4B	-4.9B	-82.6M	-78M	-7.7B	-6.8B	—	—	—	—
Investing cash flow	-5B	-15.3B	-21.9B	-19.4B	-225.1M	-53.5M	-11.1B	-16.7B	319M	-3.5B	-17.2B	3.7B
Dividends paid	-6.6B	0	0	0	-75.2M	0	0	0	-6.7B	0	0	0
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-6.5B	5.8B	140M	10.3B	192.8M	17M	-12.2B	-60M	-4.2B	8.7B	8.3B	-5.6B
Net change in cash	11.4B	229M	-3.3B	-2.1B	125.4M	132.6M	4.5B	-12.3B	11.7B	16.1B	6.7B	-2.8B
Free cash flow	14B	-305M	5.2B	2.1B	15.9M	-24.2M	10.8B	4.5B	5.4B	3.6B	4.8B	-4.6B

Nov 5, 2024	5:1
Sep 7, 2006	2:1

Dr. Reddy's Laboratories Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement