Dr Reddys Laboratories Ltd
DRREDDYDr Reddys Laboratories Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: Domestic institutions moved +11.0 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a confirmed uptrend (17 weeks in) while the P/E sits at the 60th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −69.1% year on year, and 96% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Dr Reddys Laboratories Ltd trades at ₹1,211, in a confirmed uptrend and 17 weeks into that stage. That is −4.9% against its own 200-day average. It sits at 18% of a 52-week range of ₹1,176 to ₹1,374. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (3 weeks and counting).
Today the stock is in a confirmed uptrend — week 17 of stage 2, confirmed. At ₹1,211 it trades −4.9% versus its 200-day average and sits at 18% of its 52-week range (₹1,176–₹1,374).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +86% while the NIFTY 500 moved +272% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (3 weeks and counting; last ahead the week of 2026-07-01) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 60th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Dr Reddys Laboratories Ltd trades at 29.8× P/E, mid-range by its own standards (60th percentile). Its long-run median P/E is 25.6×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 29.8× is mid-range by its own standards (60th percentile), against a long-run median of 25.6× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −25.8% against a −3.7% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +2.3%/yr price move, ~+10.4%/yr came from earnings growth and ~−8.1 pp from the multiple (compressing); over 10y, of the +5.4%/yr price move, ~+7.2%/yr came from earnings growth and ~−1.8 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Dr Reddys Laboratories Ltd reads as deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −44.6% latest against +64.4% at its 12-quarter best), ROCE slipping at 14.9%. The read is built from 12 quarters across 4 curves, on full evidence.
🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +3.2% | +11.0% | +12.1% | +8.0% |
| Profit | −27.4% | −2.7% | +16.3% | +6.9% |
| EPS | −25.8% | −2.4% | +16.5% | +7.2% |
| Share price | −3.7% | +5.9% | +2.3% | +5.4% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
31.6/100 — rank 40 of 43 in Pharma - Formulators · 100% evidence confidence
Dr Reddys Laboratories Ltd scores 31.6 out of 100 against the 43 companies it is compared with in Pharma - Formulators, ranking 40. Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
The four contributions add to the total exactly: 4.4 + 11.8 + 13.9 + 1.5 = 31.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Dr Reddys Laboratories Ltd reported ₹8,100 Cr of revenue in the Jun 26 quarter, −5.5% year on year. Over 10 years it has compounded at 8.0% a year. The last full year, FY26, came in at ₹33,700 Cr. The last four reported quarters add to ₹33,227 Cr.
Dr Reddys Laboratories Ltd reported ₹8,100 Cr of revenue in the Jun 26 quarter, −5.5% year on year. Over 10 years it has compounded at 8.0% a year. The last full year, FY26, came in at ₹33,700 Cr. The last four reported quarters add to ₹33,227 Cr.
FY26 revenue came in at ₹33,700 Cr (+3.2% on the year), capping 10 years at 8.0% compound. The latest quarter (Jun 26) printed ₹8,100 Cr, −5.5% year on year.
Pace check: the last four quarters averaged −0.7% growth against the decade's 8.0% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −0.9% over the last 4 quarters against +7.1%/yr over the last 8 — rolling over; TTM profit −44.6% vs −24.4%/yr — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 11.0% this quarter (−14.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Dr Reddys Laboratories Ltd's operating margin is 11.0% in the Jun 26 quarter, −14.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 14.0% to 28.0%. The current quarter is running below every full year in that window.
Dr Reddys Laboratories Ltd's operating margin is 11.0% in the Jun 26 quarter, −14.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 14.0% to 28.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 11.0%, −14.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 14.0%–28.0%.
🚨 Why the margin moved: operating margin went −14.7 pp year on year while gross margin went −9.0 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit −69.1% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Dr Reddys Laboratories Ltd earned ₹436 Cr of net profit in the Jun 26 quarter, −69.1% year on year. Full-year FY26 profit was ₹4,158 Cr. The 10-year compound rate is 6.9%. That is 5.4% of the quarter's revenue. The same quarter a year earlier earned ₹1,410 Cr.
Dr Reddys Laboratories Ltd earned ₹436 Cr of net profit in the Jun 26 quarter, −69.1% year on year. Full-year FY26 profit was ₹4,158 Cr. The 10-year compound rate is 6.9%. That is 5.4% of the quarter's revenue. The same quarter a year earlier earned ₹1,410 Cr.
Jun 26 profit was ₹436 Cr, −69.1% year on year. On the full year, FY26 printed ₹4,158 Cr (−27.4%), and the 10-year compound rate is 6.9%.
🚨 Why profit moved: revenue contributed −5.5% and the margin −14.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −42.7% vs revenue −0.7%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 96% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 96% of Dr Reddys Laboratories Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹5,674 Cr of operating cash against ₹4,158 Cr of profit. After ₹4,890 Cr of capital spending, ₹784 Cr was left as free cash.
FY26: operating cash of ₹5,674 Cr against reported profit of ₹4,158 Cr, leaving free cash of ₹784 Cr after ₹4,890 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 96% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 96%: the cash cycle tightened 12 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 3.5× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹18,507 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Dr Reddys Laboratories Ltd's cash conversion cycle runs 247 days in FY26, down from 259 days in FY21. Capital spending ran ₹18,507 Cr over the last 3 years. At FY26 sales of ₹33,700 Cr each day of that cycle holds about ₹92.3 Cr, so roughly ₹22,805 Cr sits inside the business at any moment.
FY26: debtors at 110 days, inventory at 228 days — roughly 7.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 247 days, tighter than FY21's 259.
The full loop: cash goes out to suppliers and production on day 0; stock waits 228 days to sell; customers pay about 110 days after that; and suppliers themselves are paid at 91 days — netting out to the 247-day cycle.
In money terms: at FY26 sales of ₹33,700 Cr, each day of the cycle holds about ₹92.3 Cr — so the 247-day loop keeps roughly ₹22,805 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹18,507 Cr over the last 3 fiscal years against ₹5,233 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1,460 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 13% and the ROIC − WACC spread is −4.5 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Dr Reddys Laboratories Ltd earns a ROCE of 13% in FY26. That is up from a trough of 8% in FY18. Return on invested capital clears the cost of that capital by −4.5 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 12.3% net margin on 0.60× asset turns.
FY26 ROCE is 13%, recovered from a FY18 trough of 8% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 12.3% net margin × 0.60× asset turns × 1.49× balance-sheet leverage ≈ 11.0% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 7.5% − 12.0% = a −4.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.20.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Dr Reddys Laboratories Ltd carries total debt of ₹7,734 Cr against shareholder equity of ₹38,046 Cr as of Mar 26, a debt-to-equity of 0.20 — effectively unlevered. On the annual view that ratio went from 0.18 in FY22 to 0.20 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹7,734 Cr against shareholder equity of ₹38,046 Cr — a debt-to-equity of 0.20. On the annual view, debt-to-equity went from 0.18 (FY22) to 0.20 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 11.0 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 11.0 points of Dr Reddys Laboratories Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 31.8% of the company. Foreign institutions moved −7.0 points over the same window, to 20.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +11.0 points over 8 quarters to 31.8%; Foreign institutions: −7.0 points over 8 quarters to 20.7%; Promoters: +0.0 points over 8 quarters to 26.6%.
Why the register moved: rotation — foreign institutions −7.0 points against domestic institutions +11.0 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Dr Reddys Laboratories Ltd: the Z-score reads 5.29. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 5.29 sits well clear of the distress zone — the balance sheet is not the risk here.
The safety line in one sentence: the Z-score reads 5.29.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Dr Reddys Laboratories Ltd this page | 29.8× | ₹96,130 Cr | Deteriorating | |||
| Sun Pharmaceutical Industries Ltd | 37.5× | ₹4.7L Cr | Improving | |||
| Torrent Pharmaceuticals Ltd | 86.1× | ₹1.9L Cr | Consistent | |||
| Cipla Ltd | 31.8× | ₹1.1L Cr | Deteriorating | |||
| Zydus Lifesciences Ltd | 20.4× | ₹1.1L Cr | Consistent | |||
| Lupin Ltd | 19.1× | ₹1.1L Cr | Consistent | |||
| Mankind Pharma Ltd | 51.4× | ₹1L Cr | Turning around | |||
| Aurobindo Pharma Ltd | 25.1× | ₹88,979 Cr | Mixed | |||
| Biocon Ltd | 182.0× | ₹70,672 Cr | Deteriorating | |||
| Alkem Laboratories Ltd | 27.6× | ₹67,357 Cr | Mixed | |||
| Glenmark Pharmaceuticals Ltd | 21.0× | ₹61,858 Cr | No read | |||
| Ipca Laboratories Ltd | 37.9× | ₹44,720 Cr | Consistent | |||
| Ajanta Pharma Ltd | 37.3× | ₹42,097 Cr | Consistent | |||
| J B Chemicals & Pharmaceuticals Ltd | 53.8× | ₹38,677 Cr | Topping out | |||
| Emcure Pharmaceuticals Ltd | 37.7× | ₹35,679 Cr | Mixed | |||
| Wockhardt Ltd | 106.0× | ₹30,048 Cr | No read | |||
| Rubicon Research Ltd | 102.0× | ₹25,141 Cr | No read | |||
| ERIS Lifesciences Ltd | 30.7× | ₹19,409 Cr | Turning around | |||
| Caplin Point Laboratories Ltd | 29.2× | ₹18,753 Cr | Consistent | |||
| Natco Pharma Ltd | 11.6× | ₹16,504 Cr | Topping out | |||
| Alembic Pharmaceuticals Ltd | 21.4× | ₹15,678 Cr | Turning around | |||
| Corona Remedies Ltd | 64.7× | ₹12,923 Cr | No read | |||
| Marksans Pharma Ltd | 26.7× | ₹11,161 Cr | Consistent | |||
| Akums Drugs & Pharmaceuticals Ltd | 40.3× | ₹10,818 Cr | No read | |||
| Strides Pharma Science Ltd | 16.6× | ₹9,402 Cr | No read | |||
| Suven Life Sciences Ltd | — | ₹8,929 Cr | No read | |||
| FDC Ltd | 22.6× | ₹6,723 Cr | Turning around | |||
| Bliss GVS Pharma Ltd | 37.4× | ₹4,927 Cr | Turning around | |||
| RPG Life Sciences Ltd | 44.3× | ₹4,858 Cr | — | — | — | — |
| Gufic BioSciences Ltd | 59.2× | ₹3,799 Cr | No read | |||
| Kwality Pharmaceuticals Ltd | 42.5× | ₹2,886 Cr | Consistent | |||
| Kwality Pharmaceuticals Ltd | 36.6× | ₹2,483 Cr | Consistent | |||
| Sai Parenterals Ltd | 166.0× | ₹2,366 Cr | — | — | — | — |
| Indoco Remedies Ltd | — | ₹2,247 Cr | No read | |||
| Fredun Pharmaceuticals Ltd | 45.4× | ₹1,480 Cr | — | No read | ||
| Amrutanjan Health Care Ltd | 22.8× | ₹1,472 Cr | Mixed | |||
| Accent Microcell Ltd | 27.1× | ₹1,187 Cr | No read | |||
| Lincoln Pharmaceuticals Ltd | 13.2× | ₹1,162 Cr | Turning around | |||
| Bajaj Healthcare Ltd | 19.3× | ₹1,088 Cr | No read | |||
| Bharat Parenterals Ltd | — | ₹990 Cr | No read |
Frequently asked questions
What is Dr Reddys Laboratories Ltd's share price today?
Dr Reddys Laboratories Ltd trades at ₹1,211, −3.7% over the past year. The company is valued at ₹96,130 Cr. The stock sits at 18% of its 52-week range of ₹1,176–₹1,374, −4.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 17 weeks in. — as of 24 July 2026.
What were Dr Reddys Laboratories Ltd's latest quarterly results?
Dr Reddys Laboratories Ltd reported revenue of ₹8,100 Cr and net profit of ₹436 Cr for the Jun 26 quarter. Revenue fell 5.5% and profit fell 69.1% year on year. Earnings per share were ₹5.32. The operating margin was 11.0%, 14.0 pp lower than a year earlier. — as of 24 July 2026.
What is Dr Reddys Laboratories Ltd's revenue?
Dr Reddys Laboratories Ltd reported revenue of ₹8,100 Cr in the Jun 26 quarter, −5.5% year on year. For the full FY26 fiscal year, revenue was ₹33,700 Cr (+3.2%). Over the last 10 years revenue compounded at 8.0% a year. — as of 24 July 2026.
What is Dr Reddys Laboratories Ltd's profit?
Dr Reddys Laboratories Ltd earned ₹436 Cr of net profit in the Jun 26 quarter, −69.1% year on year. Full-year FY26 profit was ₹4,158 Cr. The operating margin ran 11.0% in the latest quarter. — as of 24 July 2026.
What is Dr Reddys Laboratories Ltd's market cap?
Dr Reddys Laboratories Ltd's market capitalisation is ₹96,130 Cr at a share price of ₹1,211. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Dr Reddys Laboratories Ltd's P/E ratio?
Dr Reddys Laboratories Ltd trades at a P/E of 29.8×, at the 60th percentile of its own 10-year range, against a long-run median of 25.6×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Dr Reddys Laboratories Ltd pay a dividend?
Yes — Dr Reddys Laboratories Ltd's dividend payout was 16% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Dr Reddys Laboratories Ltd overvalued?
On its own history, Dr Reddys Laboratories Ltd looks mid-range against its own history: its P/E of 29.8× sits at the 60th percentile of its 10-year range (long-run median 25.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Dr Reddys Laboratories Ltd growing?
Not right now — Dr Reddys Laboratories Ltd's latest numbers are shrinking: latest-quarter revenue −5.5% year on year, profit −69.1%, and the margin −14.0 pp at 11.0%. The 10-year compound rates are 8.0% (revenue) and 6.9% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Dr Reddys Laboratories Ltd performing?
Dr Reddys Laboratories Ltd is in a confirmed uptrend, 17 weeks in. Its latest quarter's revenue fell 5.5% and profit fell 69.1% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Dr Reddys Laboratories Ltd in?
Deteriorating — profit and EPS growth are shrinking (profit growth −44.6% latest against +64.4% at its 12-quarter best), ROCE slipping at 14.9%. The read comes from the last 12 quarters of growth (revenue growth −0.9% latest, profit growth −44.6% latest, eps growth −43.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Dr Reddys Laboratories Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 17 of stage 2), trading −4.9% versus its 200-day average and at 18% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Dr Reddys Laboratories Ltd beating the market?
Not lately — on a trailing-13-week view Dr Reddys Laboratories Ltd is currently behind the NIFTY 500 (3 weeks and counting; last ahead the week of 2026-07-01), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +86% against the NIFTY 500's +272% — behind the index over the full window. — as of 24 July 2026.
Will Dr Reddys Laboratories Ltd's share price go up?
This page publishes no price forecast for Dr Reddys Laboratories Ltd. What it measures instead: the share price is ₹1,211, the price is in a confirmed uptrend 17 weeks in. Its P/E of 29.8× sits at the 60th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Dr Reddys Laboratories Ltd?
Promoters hold 26.6% of Dr Reddys Laboratories Ltd, foreign institutions 20.7%, domestic institutions 31.8% and the public 20.8% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 11.0 points over 8 quarters. — as of 24 July 2026.
Does Dr Reddys Laboratories Ltd have too much debt?
No — Dr Reddys Laboratories Ltd's debt-to-equity is 0.20, and operating profit covers the interest bill 17×. FY26 borrowings were ₹7,734 Cr against equity of ₹37,892 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Dr Reddys Laboratories Ltd's capex?
Dr Reddys Laboratories Ltd spent ₹18,507 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹4,890 Cr, with ₹1,460 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Dr Reddys Laboratories Ltd's cash flow?
Dr Reddys Laboratories Ltd generated ₹5,674 Cr of operating cash flow in FY26 and ₹784 Cr of free cash flow after ₹4,890 Cr of capital spending. Reported profit that year was ₹4,158 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Dr Reddys Laboratories Ltd's profit real cash?
Yes — over the last 3 fiscal years, 96% of Dr Reddys Laboratories Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹5,674 Cr against reported profit of ₹4,158 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
How financially safe is Dr Reddys Laboratories Ltd?
On the balance sheet, the Z-score reads 5.29 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 24 July 2026.
Where is Dr Reddys Laboratories Ltd in its business cycle?
Dr Reddys Laboratories Ltd's FY26 operating margin was 19.0%, against a 13-year band of 14.0%–28.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Dr Reddys Laboratories Ltd story?
The sharpest disagreement: Domestic institutions moved +11.0 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Dr Reddys Laboratories Ltd a stock worth studying right now?
This is not investment advice. The machine read: Dr Reddys Laboratories Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.