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About Dr Reddys Laboratories
History
Dr Reddy's Laboratories was incorporated in 1984 in Hyderabad. It was established by Dr Anji Reddy with an initial capital outlay of ₹25 lakh. Mr. Reddy was one of the pioneers of the active pharmaceutical ingredients or APIs industry in India. Before establishing Dr. Reddy’s Laboratories, he had already co-founded two bulk drug manufacturing ventures. The company made its beginning with the manufacture of Active Pharmaceutical Ingredients and Intermediates (APIs) and commenced operations with a single drug in a 60-tonne facility near Hyderabad. In the year 1986, the company shares were listed on the Bombay Stock Exchange. Thereafter, they entered the international market with exports of Methyldopa. In the year 1987, the company obtained the first USFDA approval for Ibuprofen API. In 1991, the company began production of Omeprazole, which is one of its most popular drugs. In 1993, the Dr. Reddy’s Research Foundation was established, which focused on drug discovery, especially for cancer and diabetes. In 1998, they started their biologics business to offer affordable medicine to the Indian consumer. In 2003, the company launched its first generic product, i.e. Ibuprofen, under their label in the US. In 2019, the company entered the nutrition segment in India through the launch of Celevida.Business Segments
Dr. Reddy's offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations. The company focuses on areas including gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's is today a global company with a strong presence abroad. Its major markets include - the USA, India, Russia, and Europe. The company has primarily 3 businesses:- Pharmaceutical services and active ingredients production - This is the largest source of revenue for the company, bringing in roughly 83% of the revenue in FY 2022. As of September 2023, the company offers 400+ generic drugs at affordable costs by leveraging its integrated operations. Drugs related to the nervous system bring in the most revenue.
- Global generic drug production - Dr. Reddy’s Laboratories works on API development to help its own generic drugs business become cheaper as well as to launch products in the market faster than its competitors.
- Proprietary Products - This mostly involves the company developing various formulas to enhance efficiency and ease of use, among other factors.
Key Personnel
Erez Israeli, CEO Erez Israeli is the Chief Executive Officer of Dr. Reddy’s Laboratories. He joined the company in April 2018 as Chief Operating Officer before becoming CEO in July 2019. Mr. Israeli has an MBA from Bar-Ilan University, Israel, as well as over 30 years of experience. He had earlier worked at Enzymotec, where he was the President and CEO. Before that, he worked at Teva Pharmaceuticals for 23 years. He has held a multitude of positions, especially in the field of sales and marketing. G V Prasad, Co-chairman and MD Mr. Prasad joined the company in 1990. He oversaw Dr. Reddy’s growth from a mid-sized domestic operation to a major global pharma brand today, with a presence in 66 countries and a valuation of billions of dollars. His focus is on research, innovation, transparency, business ethics and leaner corporate structures. He also focuses on mentoring leaders driving innovation in science, technology and digitalisation.Corporate Actions
Bonus Shares Dr Reddy’s Laboratories had announced a bonus share in 2006 in the ratio of 1:1. Stock Splits Dr Reddy’s Laboratories had last split its shares from a face value of ₹10 to ₹5 in 2001. Dr Reddys Laboratories has not announced any rights issues or buyback of shares so far. Mergers and Acquisitions- In 2022-23, Dr. Reddy's Holdings Limited got merged with Dr Reddy's Laboratories Ltd. The merger became effective in April 2022.
- DRS LLC in Russia merged into Dr. Reddy's Laboratories LLC in July 2022.
- In 2017, Dr. Reddy's Laboratories completed the acquisition of a 100% stake in Imperial Credit Private Limited, a Non-Banking Finance Company (NBFC), based out of Kolkata, for a consideration of ₹2.05 crore.
- In 2016, Dr. Reddy’s Laboratories acquired 6 OTC brands from Ducere Pharma to enter the consumer health field.
- In 2002, the company had made its first overseas acquisition in the form of BMS Laboratories Ltd. and Meridian Healthcare in the UK.
Financial Highlights
- The company’s sales revenue has gone up by more than 100% in the period between March 2013 and March 2023.
- On the other hand, the company’s net profits have increased by nearly 200% in the same period.
- The company’s net cash flows have been volatile over the past years. From being in negative for the last few years, it increased to ₹1,286 crore in FY 2021, dropped to ₹3 in FY 2022 and further declined to -₹907 in FY 2023.
Parent Organisation
Dr. Reddy's
Managing Director
K Satish Reddy
Founded
1984
NSE Symbol
DRREDDY
Community Discussion
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AngelOne
16th Aug, 2024
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AngelOne
8th Aug, 2024
Dr. Reddy’s Surpasses the Milestone of Rs 7,000: A Remarkable Achievement
One of India’s leading pharmaceutical companies, Dr. Reddy’s Laboratories Ltd, hit its highest level since listing on Thursday. The stock crossed the milestone level of Rs 7,000 and hit a fresh all-time high of Rs 7,035 on NSE. This significant achievement underscores the company’s strong market position and investor confidence.
A Remarkable Rally: 1,000 Points in 129 Trading Sessions
The stock of Dr. Reddy’s Laboratories took about 129 trading sessions for a rally of 1,000 points from Rs 6,000 to Rs 7,000. This impressive rally is a testament to the company’s robust performance and strategic initiatives. The stock market capitalization of Dr. Reddy’s Laboratories is currently at Rs 1.16 lakh crore, reflecting its significant stature in the pharmaceutical industry.
Quarterly Performance: Revenue Growth Amidst Profit Decline
In its recently announced quarterly results, Dr. Reddy’s Laboratories reported a revenue growth of over 14% YoY, reaching Rs 7,696 crore. However, the net profit declined by 4% to Rs 1,392 crore. On the operating front, the company’s EBITDA for the June quarter rose by 1.1% YoY to Rs 2,160 crore, though the margin dropped by 80 bps YoY to 28.2%. These mixed results highlight the challenges and opportunities faced by the company in a competitive market environment.
Strategic Move: 1:5 Stock Split Announcement
Further, the company’s board announced a 1:5 stock split of shares, a move aimed at enhancing liquidity and making the shares more affordable for small investors. The record date for the stock split has not yet been set, but this strategic decision is expected to attract a broader investor base and potentially boost the stock’s performance in the future.
Joint Venture with Nestle India: Expanding into Nutritional Health Solutions
In a significant development, Dr. Reddy’s Laboratories has entered into a Joint Venture (JV) with Nestle India to cater to nutritional health solutions. Dr. Reddy’s Laboratories invested over Rs 734 crore for a 51% stake in the JV, while Nestle India invested Rs 705.6 crore for the remaining 49%. This partnership aims to leverage the capabilities and services of both companies to focus on health and wellbeing by combining their strengths and growing their complementary nutraceutical portfolios. The JV will target the metabolic, hospital nutrition, healthy ageing, general wellness, women’s health, and child nutrition segments in the India and Nepal markets.
Stock Performance in 2024
In 2024, the stock price of Dr. Reddy’s Laboratories gained 20.4%, in comparison, the Nifty Pharma index has risen by 32%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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10th July, 2024
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10th July, 2024
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Dr Reddys Laboratories Ltd FAQs
What is the share price of Dr Reddys Laboratories Ltd (DRREDDY) shares?
Dr Reddys Laboratories Ltd (DRREDDY) share price as of October 3, 2024, on NSE is Rs 6755.6 (NSE) and Rs 6755.6 (BSE) on BSE.
Can I buy Dr Reddys Laboratories Ltd (DRREDDY) from Angel One?
Yes, You can buy Dr Reddys Laboratories Ltd (DRREDDY) shares by opening a Demat account with Angel One.
How do I buy Dr Reddys Laboratories Ltd (DRREDDY) from Angel One?
Dr Reddys Laboratories Ltd (DRREDDY) share can be bought through the following modes:
1. Direct investment: You can buy Dr Reddys Laboratories Ltd (DRREDDY) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Dr Reddys Laboratories Ltd (DRREDDY) shares.
1. Direct investment: You can buy Dr Reddys Laboratories Ltd (DRREDDY) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Dr Reddys Laboratories Ltd (DRREDDY) shares.
What is the main business of Dr Reddy?
Dr. Reddy's produces and sells a variety of medications both domestically and abroad. The business produces about 190 drugs, 60 active pharmaceutical ingredients (APIs) used in the production of pharmaceuticals, diagnostic tools, critical care products, and biotechnology items.
Who are the promoters of Dr Reddy?
The promoters are Dr. Reddy'S Holdings Limited, APS Trust, Samrajyam Reddy Kallam, Satish Reddy Kallam, Gunupati Venkateswara Prasad (Huf), G.V.Prasad, K.Satish Reddy (HUF), Anuradha Gunupati, G Anuradha, K. Deepti Reddy, G.V. Sanjana Reddy, G. Mallika Reddy, Sharathchandra Reddy Gunupati, K Shravya Reddy, K Vishal Reddy, VSD Holdings & Advisory LLP.
Who is the CEO of Dr Reddy?
Erez Israeli is the CEO of Dr. Reddy.
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