On consolidated basis
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of Dr Reddys Laboratories has increased 15.81% to Rs 8381.2 crore. Sales of Pharmaceutical Services segment has gone down 1.82% to Rs 1,038.70 crore (accounting for 12.10% of total sales). Sales of Global Generics segment has gone up 16.93% to Rs 7,381.30 crore (accounting for 86.02% of total sales). Sales of Others segment has gone up 32.84% to Rs 161.40 crore (accounting for 1.88% of total sales). Inter-segment sales came down from Rs 255.10 crore to Rs 200.20 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 16.23% to Rs 4,905.60 crore. PBIT of Pharmaceutical Services segment rose 2.25% to Rs 235.90 crore (accounting for 4.81% of total PBIT). PBIT of Global Generics segment rose 15.72% to Rs 4,521.90 crore (accounting for 92.18% of total PBIT). PBIT of Others segment rose 79.59% to Rs 147.80 crore (accounting for 3.01% of total PBIT). PBIT margin of Pharmaceutical Services segment rose from 21.81% to 22.71%. PBIT margin of Global Generics segment fell from 61.91% to 61.26%. PBIT margin of Others segment rose from 67.74% to 91.57%. Overall PBIT margin rose from 56.34% to 57.17%. Operating profit margin has declined from 27.96% to 27.12%, leading to 12.35% rise in operating profit to Rs 2,273.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.40% to 17.49%. Purchase of finished goods cost fell from 16.31% to 12.65%. Employee cost decreased from 17.22% to 16.46%. Other expenses rose from 23.77% to 26.02%. Other income fell 30.53% to Rs 150.2 crore. PBIDT rose 8.21% to Rs 2423.2 crore. Provision for interest rose 107.36% to Rs 81.7 crore. PBDT rose 6.44% to Rs 2341.5 crore. Provision for depreciation rose 26.21% to Rs 471.4 crore. Profit before tax grew 2.39% to Rs 1,870.10 crore. Share of profit/loss was 55.56% higher at Rs 4.2 crore. Provision for tax was expense of Rs 470.1 crore, compared to Rs 448.2 crore. Effective tax rate was 25.08% compared to 24.50%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 2.38% to Rs 1,413.70 crore. Promoters’ stake was 26.64% as of 31 December 2024 ,compared to 26.65% as of 31 December 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Dr Reddys Laboratories has increased 15.40% to Rs 24115.5 crore. Sales of Pharmaceutical Services segment has gone up 8.38% to Rs 3,204.90 crore (accounting for 12.90% of total sales). Sales of Global Generics segment has gone up 16.27% to Rs 21,437.80 crore (accounting for 86.29% of total sales). Sales of Others segment has gone down 19.51% to Rs 200.50 crore (accounting for 0.81% of total sales). Inter-segment sales came down from Rs 747.20 crore to Rs 727.70 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 17.23% to Rs 14,317.60 crore. PBIT of Pharmaceutical Services segment rose 45.24% to Rs 665.20 crore (accounting for 4.65% of total PBIT). PBIT of Global Generics segment rose 15.96% to Rs 13,489.90 crore (accounting for 94.22% of total PBIT). PBIT of Others segment rose 33.09% to Rs 162.50 crore (accounting for 1.13% of total PBIT). PBIT margin of Pharmaceutical Services segment rose from 15.49% to 20.76%. PBIT margin of Global Generics segment fell from 63.09% to 62.93%. PBIT margin of Others segment rose from 49.02% to 81.05%. Overall PBIT margin rose from 56.43% to 57.63%. Operating profit margin has declined from 29.19% to 26.99%, leading to 6.69% rise in operating profit to Rs 6,508.70 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.86% to 16.08%. Employee cost decreased from 17.51% to 16.94%. Other expenses rose from 23.06% to 25.53%. Provisions writeoffs cost rose from 0.08% to 0.38%. Other provisions rose from 0.08% to 0.38%. Other income fell 11.86% to Rs 615.6 crore. PBIDT rose 4.79% to Rs 7124.3 crore. Provision for interest rose 94.28% to Rs 217.2 crore. PBDT rose 3.29% to Rs 6907.1 crore. Provision for depreciation rose 13.31% to Rs 1249 crore. Profit before tax grew 1.32% to Rs 5,658.10 crore. Share of profit/loss was 44.64% higher at Rs 16.2 crore. Provision for tax was expense of Rs 1535.8 crore, compared to Rs 1327.7 crore. Effective tax rate was 27.07% compared to 23.73%.Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 4.83% to Rs 4,061.80 crore. Promoters’ stake was 26.64% as of 31 December 2024 ,compared to 26.65% as of 31 December 2023 . Full year results analysis.
Net sales (including other operating income) of Dr Reddys Laboratories has increased 13.54% to Rs 28011.1 crore. Sales of Pharmaceutical Services segment has gone up 11.02% to Rs 4,129.50 crore (accounting for 14.20% of total sales). Sales of Global Generics segment has gone up 14.83% to Rs 24,567.30 crore (accounting for 84.46% of total sales). Sales of Others segment has gone up 25.46% to Rs 392.20 crore (accounting for 1.35% of total sales). Inter-segment sales rose Rs 757.70 crore to Rs 1,077.90 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 17.41% to Rs 16,362.40 crore. PBIT of Pharmaceutical Services segment rose 46.40% to Rs 692.90 crore (accounting for 4.23% of total PBIT). PBIT of Global Generics segment rose 16.24% to Rs 15,427.20 crore (accounting for 94.28% of total PBIT). PBIT of Others segment rose 26.93% to Rs 242.30 crore (accounting for 1.48% of total PBIT). PBIT margin of Pharmaceutical Services segment rose from 12.72% to 16.78%. PBIT margin of Global Generics segment rose from 62.03% to 62.80%. PBIT margin of Others segment rose from 61.07% to 61.78%. Overall PBIT margin rose from 54.81% to 56.25%. Operating profit margin has jumped from 25.74% to 28.32%, leading to 24.95% rise in operating profit to Rs 7,933.10 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 17.15% to 15.65%. Purchase of finished goods cost rose from 13.69% to 15.33%. Employee cost decreased from 18.89% to 17.53%. Other expenses fell from 24.46% to 23.84%. Other income fell 15.27% to Rs 894.3 crore. PBIDT rose 19.22% to Rs 8827.4 crore. Provision for interest rose 19.82% to Rs 171.1 crore. Loan funds rose to Rs 2,002.00 crore as of 31 March 2024 from Rs 1,347.20 crore as of 31 March 2023. Inventories rose to Rs 6,355.20 crore as of 31 March 2024 from Rs 4,867.00 crore as of 31 March 2023. Sundry debtors were higher at Rs 8,029.80 crore as of 31 March 2024 compared to Rs 7,248.50 crore as of 31 March 2023. Cash and bank balance declined from Rs 1,730.20 crore as of 31 March 2023 to Rs 1,727.70 crore as of 31 March 2024. Investments declined from Rs 4,985.80 crore as of 31 March 2023 to Rs 4,930.50 crore as of 31 March 2024. PBDT rose 19.20% to Rs 8656.3 crore. Provision for depreciation rose 17.58% to Rs 1470 crore. Fixed assets increased to Rs 11,294.80 crore as of 31 March 2024 from Rs 9,701.80 crore as of 31 March 2023. Intangible assets increased from Rs 547.40 crore to Rs 550.10 crore. Profit before tax grew 19.54% to Rs 7,186.30 crore. Share of profit/loss was 60.27% lower at Rs 14.7 crore. Provision for tax was expense of Rs 1623.1 crore, compared to Rs 1541.2 crore. Effective tax rate was 22.54% compared to 25.48%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 23.75% to Rs 5,577.90 crore. Equity capital increased from Rs 83.30 crore as of 31 March 2023 to Rs 83.40 crore as of 31 March 2024. Per share face Value remained same at Rs 5.00. Promoters’ stake was 26.65% as of 31 March 2024 ,compared to 26.70% as of 31 March 2023 . Cash flow from operating activities decreased to Rs 4,543.30 crore for year ended March 2024 from Rs 5,887.50 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 2,743.50 crore, compared to Rs 1,886.60 crore during the year ended March 2023. Other Highlights
In
Q3 FY25, Global generics segment grew 17% YoY, North America grew 1% YoY,
Europe up 143% YoY, India up 14% YoY, Emerging markets up 12% YoY, PSAI up 5% YoY
and others up 33% YoY.
During
9M FY25, Global generics segment grew 16% YoY, North America grew 13% YoY,
Europe up 51% YoY, India up 16% YoY, Emerging markets up 12% YoY, PSAI up 13%
YoY and others down 19% YoY.
In
Q3 FY25, North America contributed 40% of total revenue, Europe 14%, India 16%,
Emerging markets 17%, PSAI 10% and others 3%.
During
9M FY25, North America contributed 46% of total revenue, Europe 10%, India 17%,
Emerging markets 17%, and PSAI 10%.
In
Q3 FY25, R&D Expenses stood at Rs 665.8 crore,
representing 8% of revenue. Management Comments : Co-Chairman & MD, G V Prasad said: "We
delivered double digit growth aided by our newly acquired NRT business, new
launches and improved operational efficiencies. We remain committed to
addressing patient needs by advancing healthcare through access, affordability
and innovation."
Dr Reddys Laboratories : Consolidated Results | | Quarter ended | Year to Date | Year ended |
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Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
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Net Sales (including other operating income) | 8,381.20 | 7,236.80 | 15.81 | 24,115.50 | 20,897.30 | 15.40 | 28,011.10 | 24,669.70 | 13.54 | OPM (%) | 27.12 | 27.96 | -84 bps | 26.99 | 29.19 | -220 bps | 28.32 | 25.74 | 259 bps | OP | 2,273.00 | 2,023.10 | 12.35 | 6,508.70 | 6,100.30 | 6.69 | 7,933.10 | 6,349.00 | 24.95 | Other Inc. | 150.20 | 216.20 | -30.53 | 615.60 | 698.40 | -11.86 | 894.30 | 1,055.50 | -15.27 | PBIDT | 2,423.20 | 2,239.30 | 8.21 | 7,124.30 | 6,798.70 | 4.79 | 8,827.40 | 7,404.50 | 19.22 | Interest | 81.70 | 39.40 | 107.36 | 217.20 | 111.80 | 94.28 | 171.10 | 142.80 | 19.82 | PBDT | 2,341.50 | 2,199.90 | 6.44 | 6,907.10 | 6,686.90 | 3.29 | 8,656.30 | 7,261.70 | 19.20 | Depreciation | 471.4 | 373.5 | 26.21 | 1249 | 1102.3 | 13.31 | 1470 | 1250.2 | 17.58 | PBT | 1,870.10 | 1,826.40 | 2.39 | 5658.1 | 5584.6 | 1.32 | 7186.3 | 6011.5 | 19.54 | Share of Profit/(Loss) from Associates | 4.2 | 2.7 | 55.56 | 16.2 | 11.2 | 44.64 | 14.7 | 37 | -60.27 | PBT before EO | 1874.3 | 1829.1 | 2.47 | 5674.3 | 5595.8 | 1.40 | 7201 | 6048.5 | 19.05 | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | PBT after EO | 1874.3 | 1829.1 | 2.47 | 5674.3 | 5595.8 | 1.40 | 7201 | 6048.5 | 19.05 | Taxation | 470.1 | 448.2 | 4.89 | 1535.8 | 1327.7 | 15.67 | 1623.1 | 1541.2 | 5.31 | PAT | 1404.2 | 1380.9 | 1.69 | 4138.5 | 4268.1 | -3.04 | 5577.9 | 4507.3 | 23.75 | Minority Interest (MI) | -9.5 | 0 | - | 76.7 | 0 | - | 0 | 0 | - | Net profit | 1413.7 | 1380.9 | 2.38 | 4061.8 | 4268.1 | -4.83 | 5577.9 | 4507.3 | 23.75 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 1413.7 | 1380.9 | 2.38 | 4061.8 | 4268.1 | -4.83 | 5577.9 | 4507.3 | 23.75 | EPS (Rs)* | 16.94 | 16.55 | 2.38 | 48.68 | 51.15 | -4.83 | 66.85 | 54.02 | 23.75 | | * EPS is on current equity of Rs 83.44 crore, Face value of Rs 1, Excluding extraordinary items. | # EPS is not annualised | bps : Basis points | EO : Extraordinary items | Figures in Rs crore | Source: Capitaline Corporate Database |
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Dr Reddys Laboratories : Consolidated Segment Results | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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Sales | Pharmaceutical Services | 12.10 | 1,038.70 | 1,058.00 | -1.82 | 12.90 | 3,204.90 | 2,957.00 | 8.38 | 14.20 | 4,129.50 | 3,719.50 | 11.02 | Global Generics | 86.02 | 7,381.30 | 6,312.40 | 16.93 | 86.29 | 21,437.80 | 18,438.40 | 16.27 | 84.46 | 24,567.30 | 21,395.30 | 14.83 | Proprietary Products | 0.00 | 0.00 | 0.00 | - | Others | 1.88 | 161.40 | 121.50 | 32.84 | 0.81 | 200.50 | 249.10 | -19.51 | 1.35 | 392.20 | 312.60 | 25.46 | Total Reported Sales | 100.00 | 8,581.40 | 7,491.90 | 14.54 | 100.00 | 24,843.20 | 21,644.50 | 14.78 | 100.00 | 29,089.00 | 25,427.40 | 14.40 | Less: Inter segment revenues | | 200.20 | 255.10 | -21.52 | | 727.70 | 747.20 | -2.61 | | 1,077.90 | 757.70 | 42.26 | Net Sales | 100.00 | 8,381.20 | 7,236.80 | 15.81 | 100.00 | 24,115.50 | 20,897.30 | 15.40 | 100.00 | 28,011.10 | 24,669.70 | 13.54 | PBIT | Pharmaceutical Services | 4.81 | 235.90 | 230.70 | 2.25 | 4.65 | 665.20 | 458.00 | 45.24 | 4.23 | 692.90 | 473.30 | 46.40 | Global Generics | 92.18 | 4,521.90 | 3,907.70 | 15.72 | 94.22 | 13,489.90 | 11,633.50 | 15.96 | 94.28 | 15,427.20 | 13,271.90 | 16.24 | Proprietary Products | 0.00 | 0.00 | 0.00 | - | Others | 3.01 | 147.80 | 82.30 | 79.59 | 1.13 | 162.50 | 122.10 | 33.09 | 1.48 | 242.30 | 190.90 | 26.93 | Total PBIT | 100.00 | 4,905.60 | 4,220.70 | 16.23 | 100.00 | 14,317.60 | 12,213.60 | 17.23 | 100.00 | 16,362.40 | 13,936.10 | 17.41 | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | Add: Other un-allcoable | | -3,031.30 | -2,391.60 | -26.75 | | -8,643.30 | -6,617.80 | -30.61 | | -9,161.40 | -7,887.60 | -16.15 | PBIT Margin(%) | Pharmaceutical Services | | 22.71 | 21.81 | 90.58 | | 20.76 | 15.49 | 526.70 | | 16.78 | 12.72 | 405.44 | Global Generics | | 61.26 | 61.91 | -64.36 | | 62.93 | 63.09 | -16.81 | | 62.80 | 62.03 | 76.38 | Proprietary Products | | 0.00 | 0.00 | 0.00 | Others | | 91.57 | 67.74 | 2,383.71 | | 81.05 | 49.02 | 3,203.09 | | 61.78 | 61.07 | 71.12 | PBT | 100.00 | 1,874.30 | 1,829.10 | 2.47 | 100.00 | 5,674.30 | 5,595.80 | 1.40 | 100.00 | 7,201.00 | 6,048.50 | 19.05 |
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