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Dr. Reddy’s Laboratories (DRREDDY) investor relations material
Dr. Reddy’s Laboratories Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2FY27 revenue was INR 8,671 crore, down 1.5% YoY and up 7.4% QoQ; underlying base business grew at a double-digit rate excluding North American lenalidomide.
EBITDA was INR 1,783 crore at a 20.6% margin; attributable profit was INR 925 crore.
H1FY27 revenue declined 3.5% YoY to INR 167.4bn, EBITDA fell 40% to INR 27.9bn and attributable profit fell 52% to INR 13.7bn.
Financial highlights
Consolidated revenue was INR 8,671 crore ($905 million); new launches, favorable FX and base-business growth partly offset lower lenalidomide sales.
EBITDA was INR 1,783 crore; PBT was INR 1,228 crore and PAT attributable to equity holders was INR 925 crore.
SG&A rose 6% YoY to INR 2,808 crore; R&D declined 16% YoY to INR 524 crore.
Outlook and guidance
Gross margin is expected to remain within 50%-55%; management expects EBITDA margin above 20% and targets 25% over time.
Semaglutide relaunch is targeted for November 2026, subject to validation; FY device guidance is 6-7 million, with a tentative 12-15 million pen run rate discussed for the following 12 months from April.
R&D is expected at 7%-8% of revenue in coming quarters; FY CapEx guidance is INR 1,600-INR 1,700 crore.
- Record FY21 revenue and EBITDA; Sputnik V launch broadened the Covid portfolio.DRREDDY
Q4 20/21 - Record sales, 20% adjusted growth, and lower gross margin shaped Q2 FY21.DRREDDY
Q2 20/21 - Record FY23 sales and EBITDA, backed by launches, pipeline progress and strong cash generation.DRREDDY
Q4 22/23 - Revenue rose 29% as launches and market gains fueled record Q1 FY24 profitability.DRREDDY
Q1 23/24 - FY23 growth and cash generation support a 1.5bn-patient, innovation-led expansion.DRREDDY
Investor presentation - Record Q2 sales and broad-based growth, backed by launches and robust profitability.DRREDDY
Q2 23/24 - Record FY24 revenues and profits, with Q4 growth led by US volumes and launches.DRREDDY
Q4 23/24 - Revenue rose 7% as launches and market-share gains supported Q3FY24 growth.DRREDDY
Q3 23/24 - Record ₹7,673 Cr revenue, 28.2% EBITDA margin, and major strategic deals in Q1FY25.DRREDDY
Q1 24/25
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