DR Reddys Laboratories

RDY · NYSE

Pharmaceutical Preparations · Fiscal year ends Mar 31 · Reports in INR

DR Reddys Laboratories reported revenue of INR 326B in the fiscal year ended Mar 2025, up 16.6% from the year before. Operating income was INR 71.8B, an operating margin of 22.1%, and net income was INR 57.2B. Operating cash flow of INR 46.4B less capital expenditure of INR 27.5B left free cash flow of INR 18.9B.

Last 5 fiscal years

Revenue and net income

RevenueNet income

Income statement

Fiscal year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	INR 190B	INR 214B	INR 246B	INR 279B	INR 326B
Cost of revenue	INR 86.6B	INR 101B	INR 107B	INR 116B	INR 135B
Gross profit	INR 103B	INR 114B	INR 139B	INR 164B	INR 190B
Research & development	INR 16.5B	INR 17.5B	INR 19.4B	INR 22.9B	INR 27.4B
Selling, general & admin	INR 54.7B	INR 62.1B	INR 68B	INR 77.2B	INR 93.9B
Operating income	INR 24.3B	INR 29.5B	INR 57.1B	INR 67.7B	INR 71.8B
Interest expense	INR 970M	INR 958M	INR 1.4B	INR 1.7B	INR 2.8B
Pre-tax income	INR 26.4B	INR 32.3B	INR 60.4B	INR 71.9B	INR 76.8B
Income tax	INR 9.2B	INR 8.7B	INR 15.3B	INR 16.2B	INR 19.5B
Net income	INR 17.2B	INR 23.6B	INR 45.1B	INR 55.7B	INR 57.2B

Balance sheet

Fiscal year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash & equivalents	INR 14.8B	INR 14.9B	INR 5.8B	INR 7.1B	INR 14.7B
Receivables	INR 49.6B	INR 66.8B	INR 72.5B	INR 80.3B	INR 90.4B
Inventory	INR 45.4B	INR 50.9B	INR 48.7B	INR 63.6B	INR 71.1B
Current assets	INR 148B	INR 182B	INR 204B	INR 248B	INR 250B
Net PP&E	INR 57.1B	INR 62.2B	INR 66.5B	INR 76.9B	INR 97.8B
Goodwill	INR 4.6B	INR 4.4B	INR 4.2B	INR 4.3B	INR 11.8B
Total assets	INR 265B	INR 293B	INR 322B	INR 388B	INR 493B
Payables	INR 23.7B	INR 25.6B	INR 26.4B	INR 30.9B	INR 35.5B
Current liabilities	INR 83.4B	INR 94B	INR 85.8B	INR 96B	INR 130B
Total liabilities	INR 92.4B	INR 102B	INR 90.9B	INR 107B	INR 156B
Shareholders' equity	INR 173B	INR 191B	INR 231B	INR 281B	INR 333B

Cash flow

Fiscal year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating cash flow	INR 35.7B	INR 28.1B	INR 58.9B	INR 45.4B	INR 46.4B
Capital expenditure	INR 9.7B	INR 14.7B	INR 11.3B	INR 16.4B	INR 27.5B
Free cash flow	INR 26B	INR 13.4B	INR 47.6B	INR 29B	INR 18.9B

Key ratios

Fiscal year	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue growth (YoY)	–	13.0%	14.7%	13.5%	16.6%
Operating income growth (YoY)	–	21.4%	93.9%	18.5%	6.1%
Gross margin	54.3%	53.1%	56.7%	58.6%	58.5%
Operating margin	12.8%	13.7%	23.2%	24.3%	22.1%
Net margin	9.1%	11.0%	18.3%	19.9%	17.6%
Return on equityBlank when equity is negative	10.0%	12.4%	19.5%	19.8%	17.2%
ROCEEBIT ÷ (assets − current liabilities)	13.3%	14.8%	24.2%	23.2%	19.8%
Free cash flow margin	13.7%	6.3%	19.3%	10.4%	5.8%
Cash conversion (CFO ÷ net income)	2.07x	1.19x	1.31x	0.82x	0.81x
Receivable days	96	114	108	105	101
Inventory days	191	185	167	201	192
Payable days	100	93	91	98	96
Interest cover	25.0x	30.8x	40.0x	39.6x	25.4x
Current ratio	1.78x	1.93x	2.38x	2.58x	1.92x

More in Pharmaceutical Preparations

Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.