Dr. Reddy's Laboratories
Vertically integrated generics major with a strong US complex-generics pipeline, growing biosimilars, and an API/services (PSAI) arm. Pursuing nutrition/consumer and GLP-1 opportunities.
A full research profile for one company — what it does, how its financials have trended, how the market values it, and a balanced bull/bear/base investment memo.
Scan the top row for the headline numbers, read the charts for trends, check the three gauge scores, then read the auto-generated memo at the bottom. Sources for every figure are linked at the very bottom.
- EBITDA
- — Earnings before interest, tax, depreciation & amortisation — a proxy for operating cash profit.
- PAT
- — Profit After Tax — the bottom-line net profit.
- FCF
- — Free Cash Flow — cash left after running the business and capital spending.
- ANDA
- — Abbreviated New Drug Application — the US FDA filing to sell a generic drug.
Revenue
₹ crore · FY
EBITDA
₹ crore · FY
Margins
EBITDA & PAT margin %
R&D Spend
₹ crore · FY
Free Cash Flow
₹ crore · FY
Revenue Mix
By geography / segment
Quality Score
Growth Score
Regulatory Risk
Snapshot
Business Model
How the company makes money
US generics, India branded, PSAI (API/services), emerging biosimilars & GLP-1 pipeline.
gRevlimid wind-down replacement + biosimilars + GLP-1
US base business erosion post-Revlimid
Peer Group
Click to compare
| Peer | Rev CAGR | EBITDA% | ROCE | P/E |
|---|---|---|---|---|
| Dr. Reddy's Laboratories | 4% | 26% | 13.6% | 25x |
| Sun Pharmaceutical Industries | 22% | 29% | 20.5% | 35x |
| Cipla | 7% | 26% | 23% | 29x |
| Lupin | 25% | 23% | 30.3% | 18x |
| Zydus Lifesciences | 12% | 30% | 24% | 20x |
| Aurobindo Pharma | 8% | 20% | 13% | 23x |
Investment Memo
Auto-generated from the data layer — illustrative, not advice
- • gRevlimid wind-down replacement + biosimilars + GLP-1 underpins a 4% 5Y revenue CAGR.
- • Premium 26% EBITDA margin with 13.6% ROCE signals durable economics.
- • Capacity already in place to support the next growth phase.
- • US base business erosion post-Revlimid.
- • ~45% US exposure leaves earnings sensitive to price erosion and FDA action.
- • Re-rating depends on proving R&D/return discipline.
Dr. Reddy's Laboratories screens as a high-quality diversified franchise. With revenue of ₹32.6K Cr growing ~4% and 26% EBITDA margins, the base case is steady compounding driven by grevlimid wind-down replacement + biosimilars + glp-1, while watching us base business erosion post-revlimid.
Trades at 25x P/E, 13.0x EV/EBITDA and 2.8x P/B. Reasonable versus growth — re-rating optionality if execution improves.
- 1 USFDA facility status & ANDA approval cadence
- 2 Gross-margin trajectory & new-launch contribution
- 3 R&D productivity (filings/approvals per ₹ of R&D)
- 4 Capital allocation — capex payback & M&A discipline
Mix derived from FY25 segment revenues (NA, EMs, India, Europe→RoW, PSAI). Cumulative ANDA count not cleanly disclosed.