Dr. Reddy’s Laboratories Limited (RDY)
Dr. Reddy’s Laboratories Limited files a 20-F with the SEC once a year, in Indian rupees. In the year to 31 March 2026 it reported revenue of INR 335,933 million, up 3.2% on the year before. Its profit attributable to shareholders was INR 42,850 million, down 24.2%, and diluted earnings per share INR 51.42.
Earnings per share are per ordinary share, in Indian rupees. The share that trades in the US can be a depositary share standing for more or fewer ordinary shares, so no price ratio is worked out on this page.
The public record on RDY
| Planned insider sales | no Form 144 notice in twelve months |
| Options tape | put/call 0.06 by open interest on 26 September 2026; the straddle prices a 28.6% move to 16 October 2026 |
| Holders | 5 of the followed funds hold it; largest Renaissance Technologies; 0 Schedule 13D or 13G filings in twelve months |
| Congress | 0 House trades disclosed in six months |
| Short interest | 29.0 million shares short, 9.01 days to cover at 15 September 2026 |
Profit and loss, 11 fiscal years
| Year to | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019* | Mar 2018* | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 335,933 | 325,535 | 279,164 | 245,879 | 214,391 | 189,722 | 174,600 | 153,851 | 142,028 | 140,809 | 154,708 |
| Cost of sales | 158,669 | 135,107 | 115,557 | 106,536 | 100,551 | 86,645 | 80,591 | 70,421 | 65,724 | 62,453 | 62,427 |
| Gross profit | 177,264 | 190,428 | 163,607 | 139,343 | 113,840 | 103,077 | 94,009 | 83,430 | 76,304 | 78,356 | 92,281 |
| Research and development | 24,058 | 27,380 | 22,873 | 19,381 | 17,482 | 16,541 | 15,410 | 15,607 | 18,265 | 19,551 | 17,834 |
| Selling, general and administrative | 106,763 | 93,870 | 77,201 | 68,026 | 62,081 | 54,650 | 50,129 | 48,680 | 46,857 | 46,372 | 45,702 |
| Operating profit | 50,551 | 71,843 | 67,729 | 57,144 | 29,476 | 24,280 | 15,993 | 20,888 | 11,917 | 13,498 | 29,619 |
| Finance costs | 3,738 | 2,829 | 1,711 | 1,428 | 958 | 970 | 983 | 1,163 | 817 | 781 | 4,959 |
| Profit before tax | 54,817 | 76,784 | 71,870 | 60,367 | 32,298 | 26,413 | 18,032 | 22,443 | 14,341 | 14,653 | 27,140 |
| Income tax | 12,351 | 19,539 | 16,186 | 15,300 | 8,730 | 9,175 | -1,466 | 3,648 | 4,535 | 2,614 | 7,127 |
| Profit for the year | 42,466 | 57,245 | 55,684 | 45,067 | 23,568 | 17,238 | 19,498 | 18,795 | 9,806 | 12,039 | 20,013 |
| Profit attributable to shareholders | 42,850 | 56,544 | 55,684 | 45,067 | 23,568 | 17,238 | 19,498 | 18,795 | 9,806 | 12,039 | 20,013 |
INR million, from each year's annual report on the SEC's EDGAR, the year linked to its filing, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated. A year marked * shows the figure as the company restated it in a later annual report (Mar 2018, Mar 2019); the first-filed figure is in the CSV. For Mar 2019, Mar 2020, Mar 2021, Mar 2022 the company files only its profit available to ordinary shareholders, after amounts due to holders of preference shares, and that is the figure shown; the other years are the profit attributable to the parent's shareholders. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on.
| Year to | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019* | Mar 2018* | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Diluted EPS | 51.42 | 67.78 | 66.80 | 54.17 | 141.69 | 103.65 | 117.40 | 113.09 | 59.00 | 72.09 | 116.98 |
| Basic EPS | 51.48 | 67.88 | 66.93 | 54.28 | 142.08 | 103.94 | 117.63 | 113.28 | 59.13 | 72.24 | 117.34 |
INR per ordinary share, as filed.
Cash flow
| Year to | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019* | Mar 2018* | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 56,755 | 46,428 | 45,433 | 58,875 | 28,108 | 35,703 | 29,841 | 28,704 | 18,029 | 21,513 | 41,247 |
| Purchase of property, plant and equipment | 23,326 | 27,504 | 16,403 | 11,323 | 14,660 | 9,741 | 4,846 | 6,955 | 9,291 | 12,278 | 12,017 |
| Free cash flow | 33,429 | 18,924 | 29,030 | 47,552 | 13,448 | 25,962 | 24,995 | 21,749 | 8,738 | 9,235 | 29,230 |
| Dividends paid | 6,659 | 6,662 | 6,648 | 4,979 | 4,146 | 4,147 | 3,916 | 4,002 | 3,992 | 3,390 | 4,106 |
INR million. Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019* | Mar 2018* | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | 579,346 | 492,989 | 387,518 | 321,854 | 292,827 | 265,491 | 232,241 | 225,427 | 225,604 | 219,821 | n/a |
| Equity attributable to shareholders | 377,063 | 333,388 | 280,550 | 230,991 | 190,527 | 173,062 | 154,988 | 140,197 | 126,460 | 124,044 | 128,336 |
| Cash and cash equivalents | 15,368 | 14,654 | 7,107 | 5,779 | 14,852 | 14,829 | 2,053 | 2,228 | 2,638 | 3,866 | n/a |
| Borrowings, as filed | 18,206 | 8,721 | 7,297 | 6,082 | 6,763 | 7,163 | 5,570 | 26,347 | 25,269 | 5,559 | n/a |
| Lease liabilities | 5,436 | n/a | n/a | n/a | n/a | 3,363 | 1,787 | 609 | n/a | n/a | n/a |
| Trade and other receivables | 101,219 | 90,420 | 80,298 | 72,485 | 66,764 | 49,641 | 50,278 | 39,869 | 40,617 | 38,065 | n/a |
| Inventories | 76,531 | 71,085 | 63,552 | 48,670 | 50,884 | 45,412 | 35,066 | 33,579 | 29,089 | 28,529 | n/a |
| Goodwill | 12,893 | 11,810 | 4,253 | 4,245 | 4,418 | 4,568 | 3,994 | 3,902 | 3,945 | 3,752 | n/a |
INR million, at each fiscal year end. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.
Ratios on the filed lines
| Year to | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019* | Mar 2018* | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 52.8% | 58.5% | 58.6% | 56.7% | 53.1% | 54.3% | 53.8% | 54.2% | 53.7% | 55.6% | 59.6% |
| Operating margin | 15.0% | 22.1% | 24.3% | 23.2% | 13.7% | 12.8% | 9.2% | 13.6% | 8.4% | 9.6% | 19.1% |
| Net margin | 12.8% | 17.4% | 19.9% | 18.3% | 11.0% | 9.1% | 11.2% | 12.2% | 6.9% | 8.5% | 12.9% |
| Free cash flow margin | 10.0% | 5.8% | 10.4% | 19.3% | 6.3% | 13.7% | 14.3% | 14.1% | 6.2% | 6.6% | 18.9% |
| Return on year-end equity | 11.4% | 17.0% | 19.8% | 19.5% | 12.4% | 10.0% | 12.6% | 13.4% | 7.8% | 9.7% | 15.6% |
| Effective tax rate | 22.5% | 25.4% | 22.5% | 25.3% | 27.0% | 34.7% | -8.1% | 16.3% | 31.6% | 17.8% | 26.3% |
Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.
Annual reports on EDGAR
| Form | Year to | Filed | |
|---|---|---|---|
| 20-F | 31 March 2026 | 29 May 2026 | EDGAR |
| 20-F | 31 March 2025 | 6 June 2025 | EDGAR |
| 20-F | 31 March 2024 | 12 June 2024 | EDGAR |
| 20-F | 31 March 2023 | 13 June 2023 | EDGAR |
| 20-F | 31 March 2022 | 27 June 2022 | EDGAR |
| 20-F | 31 March 2021 | 30 June 2021 | EDGAR |
| 20-F | 31 March 2020 | 15 June 2020 | EDGAR |
| 20-F | 31 March 2019 | 3 June 2019 | EDGAR |
| 20-F/A | 31 March 2018 | 12 July 2018 | EDGAR |
| 20-F | 31 March 2018 | 15 June 2018 | EDGAR |
| 20-F | 31 March 2017 | 19 June 2017 | EDGAR |
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