RDYNYSEPharmaceutical PreparationsFiscal year ends March 31
DR REDDYS LABORATORIES LTD
Financials through fiscal 2026, year ended Mar 31, 2026
$13.08+0.01 (+0.08%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2026
Gross margin
52.8%−1.6 pts over 5 years
Operating margin
15.0%+2.3 pts over 5 years
Net margin
12.8%
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.2% | +11.0% | +12.1% | +8.1% | |
| Gross profit | -6.9% | +8.4% | +11.5% | +6.7% | |
| Operating income | -29.6% | -4.0% | +15.8% | +5.5% | |
| Net income | -24.2% | -1.7% | – | +7.9% | |
| EPS, diluted | -24.1% | -1.7% | +19.9% | +8.2% | |
| Free cash flow | +76.6% | -11.1% | +5.2% | +1.4% | |
| Dividend per share | 0.0% | -35.6% | +9.9% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 12.1% | |
| Return on assets | – | – | 8.0% | |
| Current ratio | 1.18 | 1.78 | 1.80 | |
| Debt to equity | – | – | 0.21 | |
| Net debt to EBITDA | 1.83× | 0.42× | 0.87× | |
| Interest coverage | 17.3× | 25.0× | 13.5× | |
| Inventory turnover | – | 2.2× | 2.1× | |
| Capex to revenue | 8.7% | 5.1% | 6.9% | |
| Diluted shares | 835M | 832M | 833M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Dr Reddys Laboratories generated ₹235.60B from operations and spent ₹122.31B on capital expenditure, dividends and share buybacks. 76% of that went back into the business.
Generated
₹235.60B
Used
₹122.31B
Capital expenditure₹93.22B76%Dividends₹29.09B24%Share buybacks₹00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.8%
×Asset turnover0.63×
×Equity multiplier1.51×
=Return on equity, FY202612.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 12.8% | 0.63× | 1.51× | 12.1% |
| FY2025 | 17.4% | 0.74× | 1.43× | 18.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
4of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero₹42.85B
- Cash generatingOperating cash flow above zero₹56.76B
- Return on assets improvedROA up on the prior year14.6% → 8.7%
- Earnings backed by cashOperating cash flow above net income₹56.76B vs ₹42.85B
- Less leverageLong-term debt to assets fell1.6% → 2.1%
- Better liquidityCurrent ratio rose1.92 → 1.80
- No dilutionShare count did not rise834M → 833M
- Gross margin improvedGross margin up on the prior year58.50% → 52.77%
- More efficientAsset turnover rose0.84 → 0.68