Financials Dr. Reddy's Laboratories Limited NSE India S.E.

Equities

DRREDDY

INE089A01023

Pharmaceuticals

Market Closed - NSE India S.E. 07:43:47 2024-04-26 am EDT 5-day change 1st Jan Change
6,252 INR +0.54% Intraday chart for Dr. Reddy's Laboratories Limited +5.20% +7.83%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 460,540 516,741 749,317 714,500 767,655 1,041,305 - -
Enterprise Value (EV) 1 484,568 513,012 745,052 703,980 719,330 974,873 936,288 897,915
P/E ratio 24.5 x 26.6 x 39.2 x 30.4 x 17.1 x 19 x 18.3 x 18.4 x
Yield 0.72% 0.8% 0.55% 0.7% 0.87% 0.65% 0.7% 0.7%
Capitalization / Revenue 2.99 x 2.96 x 3.95 x 3.33 x 3.11 x 3.74 x 3.49 x 3.29 x
EV / Revenue 3.15 x 2.94 x 3.93 x 3.28 x 2.92 x 3.5 x 3.13 x 2.83 x
EV / EBITDA 14.2 x 11 x 15.7 x 13.7 x 11.1 x 12.1 x 11.1 x 10.6 x
EV / FCF 22.3 x 20.5 x 28.7 x 52.3 x 15.1 x 28.3 x 19.4 x 18.5 x
FCF Yield 4.48% 4.87% 3.48% 1.91% 6.61% 3.54% 5.15% 5.4%
Price to Book 3.28 x 3.33 x 4.29 x 3.76 x 3.33 x 3.77 x 3.22 x 2.81 x
Nbr of stocks (in thousands) 166,011 165,776 165,940 165,954 166,105 166,522 - -
Reference price 2 2,774 3,117 4,516 4,305 4,622 6,253 6,253 6,253
Announcement Date 5/17/19 6/9/20 5/14/21 5/19/22 5/10/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 153,851 174,600 189,722 214,391 246,697 278,772 298,748 316,757
EBITDA 1 34,189 46,431 47,480 51,400 64,559 80,866 84,377 85,077
EBIT 1 18,933 28,470 31,977 34,277 52,057 66,340 69,272 70,028
Operating Margin 12.31% 16.31% 16.85% 15.99% 21.1% 23.8% 23.19% 22.11%
Earnings before Tax (EBT) 1 22,443 18,032 28,324 32,298 60,485 72,199 74,612 75,557
Net income 1 18,795 19,498 19,149 23,568 45,073 54,644 56,739 56,985
Net margin 12.22% 11.17% 10.09% 10.99% 18.27% 19.6% 18.99% 17.99%
EPS 2 113.1 117.4 115.1 141.7 270.9 329.4 341.9 340.2
Free Cash Flow 1 21,700 24,995 25,962 13,448 47,552 34,468 48,242 48,505
FCF margin 14.1% 14.32% 13.68% 6.27% 19.28% 12.36% 16.15% 15.31%
FCF Conversion (EBITDA) 63.47% 53.83% 54.68% 26.16% 73.66% 42.62% 57.17% 57.01%
FCF Conversion (Net income) 115.46% 128.19% 135.58% 57.06% 105.5% 63.08% 85.02% 85.12%
Dividend per Share 2 20.00 25.00 25.00 30.00 40.00 40.79 43.95 43.95
Announcement Date 5/17/19 6/9/20 5/14/21 5/19/22 5/10/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 57,632 53,197 54,368 52,154 63,057 67,700 63,152 67,384 68,802 72,148 70,210 73,976 75,960 77,487
EBITDA 1 15,572 12,018 12,980 9,238 18,944 20,562 15,955 20,450 19,915 20,180 18,953 - - -
EBIT 1 10,372 9,042 8,743 6,188 15,818 17,291 12,800 16,867 16,126 16,410 14,590 17,939 18,610 18,984
Operating Margin 18% 17% 16.08% 11.86% 25.09% 25.54% 20.27% 25.03% 23.44% 22.74% 20.78% 24.25% 24.5% 24.5%
Earnings before Tax (EBT) 1 12,681 9,709 2,483 14,655 16,111 16,346 13,291 18,463 19,134 18,257 14,508 - - -
Net income 1 9,920 7,065 875 11,876 11,128 12,471 9,601 14,025 14,800 13,789 11,825 - - -
Net margin 17.21% 13.28% 1.61% 22.77% 17.65% 18.42% 15.2% 20.81% 21.51% 19.11% 16.84% - - -
EPS 2 59.65 42.48 5.260 71.40 66.89 74.95 57.68 84.22 88.78 82.68 52.00 - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 10/29/21 1/28/22 5/19/22 7/28/22 10/28/22 1/25/23 5/10/23 7/26/23 10/27/23 1/30/24 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 24,028 - - - - - - -
Net Cash position 1 - 3,729 4,265 10,520 48,325 66,432 105,017 143,390
Leverage (Debt/EBITDA) 0.7028 x - - - - - - -
Free Cash Flow 1 21,700 24,995 25,962 13,448 47,552 34,468 48,242 48,505
ROE (net income / shareholders' equity) 14.1% 13.2% 11.6% 13% 21.4% 20.6% 18.2% 16%
ROA (Net income/ Total Assets) 8.33% 8.52% 7.69% 8.39% 14.7% 15% 13.2% 11.5%
Assets 1 225,515 228,823 248,866 281,073 307,340 364,529 429,469 497,683
Book Value Per Share 2 845.0 935.0 1,052 1,145 1,387 1,659 1,942 2,227
Cash Flow per Share 2 173.0 180.0 215.0 169.0 354.0 290.0 384.0 404.0
Capex 1 7,000 4,846 9,741 14,660 11,323 14,796 15,351 15,852
Capex / Sales 4.55% 2.78% 5.13% 6.84% 4.59% 5.31% 5.14% 5%
Announcement Date 5/17/19 6/9/20 5/14/21 5/19/22 5/10/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
35
Last Close Price
6,253 INR
Average target price
6,005 INR
Spread / Average Target
-3.97%
Consensus
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