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ValueScreener company report

Dr. Reddy's Laboratories Limited (RDY)

NYSE / Healthcare / Drug Manufacturers - Specialty & Generic

Share price

12.90 USD Market dataClose of Oct 15, 2026

Market capitalisation

10.74B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Jun 6, 2025
Ratios computed
Oct 15, 2026
Filed years
10, FY2016 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

14.7% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

17.99x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

1.9% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 154.71B INRFY2016 Net income: 20.01B INRFY2017 Revenue: 140.81B INRFY2017 Net income: 12.04B INRFY2018 Revenue: 142.03B INRFY2018 Net income: 9.81B INRFY2019 Revenue: 153.85B INRFY2019 Net income: 18.80B INRFY2020 Revenue: 174.60B INRFY2020 Net income: 19.50B INRFY2021 Revenue: 189.72B INRFY2021 Net income: 17.24B INRFY2022 Revenue: 214.39B INRFY2022 Net income: 23.57B INRFY2023 Revenue: 245.88B INRFY2023 Net income: 45.07B INRFY2024 Revenue: 279.16B INRFY2024 Net income: 55.68B INRFY2025 Revenue: 325.54B INRFY2025 Net income: 56.54B INR
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
5 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 17.99x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Healthcare sector (223 companies), 17.99x sits at the 34th percentile; the middle half of that group runs from 13.52x to 42.98x.

Is it good

Return on invested capital was 14.7% in FY2025, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Healthcare sector (233 companies), 14.7% sits at the 78th percentile; the middle half of that group runs from -37.4% to 12.8%.

Is it safe

Interest coverage was 25.40x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Dr. Reddy's Laboratories Limited's return on invested capital stayed above the median of the Healthcare sector, year by year. (FY2022 to FY2025, 4 fiscal years of Dr. Reddy's Laboratories Limited with a comparable figure)
The direction
Which way Dr. Reddy's Laboratories Limited's gross margin has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Dr. Reddy's Laboratories Limited)
What could explain it
What in Dr. Reddy's Laboratories Limited's filed statements could explain the movements. (4 readings drawn from the statement lines Dr. Reddy's Laboratories Limited filed)
What to check next
What to check next on Dr. Reddy's Laboratories Limited, and where in its filings. (1 question for Dr. Reddy's Laboratories Limited)
In one paragraph
One paragraph on Dr. Reddy's Laboratories Limited's returns, cash, balance sheet and price. (14 of sixteen figures read for Dr. Reddy's Laboratories Limited)

These are RDY’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research RDYPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 20-F, filed Jun 6, 2025, accession 0001575872-25-000393.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Dr. Reddy's Laboratories Limited: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax14.7% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Return on equity17.0% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Return on capital employed, pre-tax19.8% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Return on assets11.5% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Gross margin58.5% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Operating margin22.1% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Net margin17.4% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
RDY 17.4%
NBIX 16.7%ZTS 28.2%ELAN -4.9%HLN 15.1%VTRS -24.6%
-24.6%28.2%
Net margin: RDY against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Dr. Reddy's Laboratories Limited: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.14 ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Current ratio1.92 ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Quick ratio1.37 ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Interest coverage25.40x ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Altman Z-score6.25 ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Net debt32.11B ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Total assets 492.99BTotal liabilities 155.82BShareholders' equity 333.39BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Dr. Reddy's Laboratories Limited owned and owed at the end of fiscal 2025, from the balance sheet it filed (20-F, filed Jun 6, 2025, 0001575872-25-000393).

Dr. Reddy's Laboratories Limited: balance sheet position
Total assets492.99B FiledFY2025 20-F, filed Jun 6, 2025
Total liabilities155.82B FiledFY2025 20-F, filed Jun 6, 2025
Shareholders' equity333.39B FiledFY2025 20-F, filed Jun 6, 2025
Cash14.65B FiledFY2025 20-F, filed Jun 6, 2025
Total debt46.77B FiledFY2025 20-F, filed Jun 6, 2025
Net debt32.11B
Current ratio1.92
Debt to equity0.14

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Dr. Reddy's Laboratories Limited: what the market charges, each with its source
FigureValue, source and document
Price to earnings17.99x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book3.05x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Price to sales3.13x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Enterprise value to EBIT14.61x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Diluted earnings per share
Why n/a

The FY2025 filing carries no diluted earnings per share we could read.

n/a FiledFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393

We publish no fair value or price target of our own. Value RDY on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Dr. Reddy's Laboratories Limited today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Dr. Reddy's Laboratories Limited: valuation
Share price12.90 USD
Market capitalisation10.74B USD
Enterprise value to EBITDAn/a
Graham numbern/a
Diluted earnings per sharen/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Dr. Reddy's Laboratories Limited

  1. Neurocrine Biosciences, Inc. (NBIX)Market cap 13.92B USD
  2. Zoetis Inc. (ZTS)Market cap 32.41B USD
  3. Elanco Animal Health Incorporated (ELAN)Market cap 11.76B USD
  4. Haleon plc (HLN)Market cap 43.71B USD
  5. Viatris Inc. (VTRS)Market cap 20.93B USD

Same industry (Drug Manufacturers - Specialty & Generic) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Dr. Reddy's Laboratories Limited: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield1.9% ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Free cash flow18.92B INR ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Free cash flow margin5.8% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Dividend yield
Why n/a

The newest cash flow statement on file ended more than fifteen months ago, so it says nothing about today's yield.

n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Payout ratio11.8% ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
FY2016 Free cash flow: 29.23B INRFY2016 Net income: 20.01B INRFY2017 Free cash flow: 9.23B INRFY2017 Net income: 12.04B INRFY2018 Free cash flow: 8.74B INRFY2018 Net income: 9.81B INRFY2019 Free cash flow: 21.75B INRFY2019 Net income: 18.80B INRFY2020 Free cash flow: 25.00B INRFY2020 Net income: 19.50B INRFY2021 Free cash flow: 25.96B INRFY2021 Net income: 17.24B INRFY2022 Free cash flow: 13.45B INRFY2022 Net income: 23.57B INRFY2023 Free cash flow: 47.55B INRFY2023 Net income: 45.07B INRFY2024 Free cash flow: 29.03B INRFY2024 Net income: 55.68B INRFY2025 Free cash flow: 18.92B INRFY2025 Net income: 56.54B INR
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Dr. Reddy's Laboratories Limited: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
17.99xFY2025Oct 15, 2026
3.05xFY2025Oct 15, 2026
14.61xFY2025Oct 15, 2026
1.9%FY2025Oct 15, 2026
14.7%FY2025Jun 6, 2025
n/aFY2025Oct 15, 2026
n/a The newest cash flow statement on file ended more than fifteen months ago, so it says nothing about today's yield.
0.14FY2025Jun 6, 2025
1.92FY2025Jun 6, 2025
3.13xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed income statement reports no earnings per share.
6.25FY2025Oct 15, 2026
-2.43FY2025Jun 6, 2025
2/9FY2025Jun 6, 2025

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Dr. Reddy's Laboratories Limited filed with the SEC. Each year names its filing. Amounts in INR, as filed.

Dr. Reddy's Laboratories Limited: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025325.54B71.84B56.54Bn/a18.92B22.1%17.0%20-F, Jun 6, 20250001575872-25-000393
FY2024279.16B67.73B55.68Bn/a29.03B24.3%19.9%20-F, Jun 12, 20240001575872-24-000660
FY2023245.88B57.14B45.07Bn/a47.55B23.2%19.5%20-F, Jun 13, 20230001575872-23-000951
FY2022214.39B29.48B23.57Bn/a13.45B13.8%12.4%20-F, Jun 27, 20220001575872-22-000576
FY2021189.72B24.28B17.24Bn/a25.96B12.8%10.0%20-F, Jun 30, 20210001575872-21-000138
FY2020174.60B15.99B19.50Bn/a25.00B9.2%12.6%20-F, Jun 15, 20200001575872-20-000145
FY2019153.85B20.89B18.80Bn/a21.75B13.6%13.4%20-F, Jun 3, 20190001575872-19-000144
FY2018142.03B11.92B9.81Bn/a8.74B8.4%7.8%20-F, Jul 12, 20180001575872-18-000142
FY2017140.81B13.50B12.04Bn/a9.23B9.6%9.7%20-F, Jul 12, 20180001575872-18-000142
FY2016154.71B29.62B20.01Bn/a29.23B19.1%n/a20-F, Jul 12, 20180001575872-18-000142
  • Revenue, compound annual growth FY2016 to FY2025: 8.6%
  • Earnings, compound annual growth FY2016 to FY2025: 12.2%
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow, compound annual growth FY2016 to FY2025: -4.7%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Dr. Reddy's Laboratories Limited: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.43 ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Piotroski F-score2/9 ComputedFY2025 20-F, filed Jun 6, 2025, 0001575872-25-000393
Named tests met5 of 30 Computed
Beta0.36 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 5 met, 20 not met, 5 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
High returns and growth; Low beta, profitable; ROIC at or above WACC; Z-score and coverage (Edward Altman); Cash-covered dividend
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Gross margin, turnover (Robert Novy-Marx); High yield, low payout; Dividends and buybacks; Near the 52-week low; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(8)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Yield: The newest cash flow statement on file ended more than fifteen months ago, so it says nothing about today's yield.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • Price To Ncav: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 8 figures could not be read on this company, among them Positive Earnings Streak, PEG Ratio, Eps Growth 5Y. Each blank in the table above names the rest, with its reason. 5 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.