| Management target | EBITDA Margin 25.0% FY27 |
|---|
| Revenue growth | 1.5% YoY decline; base business grew double digits excluding gRevlimid. |
|---|---|
| Margins | EBITDA margin at 20.6%; target long-term sustainable expansion toward 25%. |
| Demand visibility | Strong base business demand across India, Emerging Markets, and Europe. |
| Management confidence | Confident, specifically regarding the Semaglutide relaunch and 25% EBITDA target. |
Growth
Base business excluding Revlimid delivered double-digit growth; India grew 17% YoY, Emerging Markets 24%.
Outlook
Management aims for 25% EBITDA margin and plans Semaglutide relaunch in November 2026.
Risks
Semaglutide supply chain disruption and high raw material/freight costs impacted margins by 100 bps.
Last quarter's promises, checked
Delivered
- Guided ~20% EBITDA ex-semaglutide → 20.6% (= BEAT)
- Guided double-digit base growth → double-digit ex-Revlimid (= BEAT)
- Guided opex low-single-digit growth → flat (= BEAT)
Partly delivered
- Guided double-digit US growth → base up double-digit, US split undisclosed (= PARTIAL)
- Guided FY27 capex ~₹1,800 Cr → ₹1,600-1,700 Cr (= PARTIAL; cut)
- Guided semaglutide API fix ~22-23 Sep → outcome undisclosed (= PARTIAL)
Earnings Call Transcript filed with BSE, NSE: DRREDDY. Summary written with AI assistance from the document.
Dr. Reddy's Laboratories Ltd: key numbers
- Share price
- ₹1,335.40
- Market cap
- ₹1,11,463 Cr
- Revenue (annual)
- ₹33,700 Cr
- Net profit (annual)
- ₹4,196 Cr
- P/E (TTM)
- 39.8×Sector 46.1×
- Promoter holding
- 26.63%-0.01% QoQ
- FII holding
- 20.30%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Key figure
- Net profit ₹913.2 Cr · -31.7% YoY
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