Dr. Reddy’s Laboratories Limited (RDY) annual results, year to 31 March 2025: revenue INR 325,535 million, from the 20-F
Dr. Reddy’s Laboratories Limited files a 20-F with the SEC once a year, in Indian rupees. In the year to 31 March 2025 it reported revenue of INR 325,535 million ($3.9 billion at the year's average rate), up 16.6% on the year before. Its profit attributable to shareholders was INR 56,544 million, up 1.5%, and diluted earnings per share INR 67.78.
The year to 31 March 2025, against the year before
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Revenue | 279,164 | 325,535 |
| Cost of sales | 115,557 | 135,107 |
| Gross profit | 163,607 | 190,428 |
| Research and development | 22,873 | 27,380 |
| Selling, general and administrative | 77,201 | 93,870 |
| Operating profit | 67,729 | 71,843 |
| Finance costs | 1,711 | 2,829 |
| Profit before tax | 71,870 | 76,784 |
| Income tax | 16,186 | 19,539 |
| Profit for the year | 55,684 | 57,245 |
| Profit attributable to shareholders | 55,684 | 56,544 |
| Filing | 20-F | 20-F |
INR million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
INR per ordinary share, as filed.
Cash flow
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Cash from operations | 45,433 | 46,428 |
| Purchase of property, plant and equipment | 16,403 | 27,504 |
| Free cash flow | 29,030 | 18,924 |
| Dividends paid | 6,648 | 6,662 |
| Filing | 20-F | 20-F |
INR million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Total assets | 387,518 | 492,989 |
| Equity attributable to shareholders | 280,550 | 333,388 |
| Cash and cash equivalents | 7,107 | 14,654 |
| Borrowings, as filed | 7,297 | 8,721 |
| Trade and other receivables | 80,298 | 90,420 |
| Inventories | 63,552 | 71,085 |
| Goodwill | 4,253 | 11,810 |
| Filing | 20-F | 20-F |
INR million, at each fiscal year end.
Ratios on the filed lines
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Gross margin | 58.6% | 58.5% |
| Operating margin | 24.3% | 22.1% |
| Net margin | 19.9% | 17.4% |
| Free cash flow margin | 10.4% | 5.8% |
| Return on year-end equity | 19.8% | 17.0% |
| Effective tax rate | 22.5% | 25.4% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
The exchange rates used
| Year to | Average over the year INR per US dollar | At the year end INR per US dollar |
|---|---|---|
| Mar 2016 | 65.36 | 66.25 |
| Mar 2017 | 67.00 | 64.85 |
| Mar 2018 | 64.45 | 65.11 |
| Mar 2019 | 69.80 | 69.16 |
| Mar 2020 | 70.86 | 75.39 |
| Mar 2021 | 74.23 | 73.14 |
| Mar 2022 | 74.49 | 75.87 |
| Mar 2023 | 80.25 | 82.19 |
| Mar 2024 | 82.77 | 83.34 |
| Mar 2025 | 84.51 | 85.43 |
| Mar 2026 | 88.29 | 93.83 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXINUS. Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in Indian rupees.
Every annual report here
- Year to 31 March 2026
- Year to 31 March 2025, this page
- Year to 31 March 2024
- Year to 31 March 2023
- Year to 31 March 2022
- Year to 31 March 2021
- Year to 31 March 2020
- Year to 31 March 2019
- Year to 31 March 2018
- Year to 31 March 2017
- Year to 31 March 2016
Source
20-F for the year to 31 March 2025, filed 29 May 2026, accession 0001575872-26-000381: the filing on EDGAR. All of Dr. Reddy’s Laboratories Limited's filings: EDGAR company page. The figures are in Indian rupees as filed.
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