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Abhishek SHINDADKAR Anirvan DIVAKERA Himanshu Marfatia InCred Institutional Equities Research Meghna LUTHRA Niharika AGARWAL Nishant BAGRECHA Nitin AWASTHI Pramod AMTHE Rajarshi MAITRA Ravi GUPTA Ritik GUPTA Rohan KALLE SALES-BLOOM Kamal Satish KUMAR Saurabh SINGH Shakthi Karanam Shivam AGARWAL Tushar WAVHAL Yogesh SONI
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Dr Reddy's Laboratories Ltd

Pharmaceuticals
12 May 2025 Sector Flash Note Healthcare
Rating Neutral
Trump’s MFN pricing plan to cut drug c...

US President Donald Trump’s ‘Most Favoured Nation’ (MFN) drug pricing plan seeks to cut drug costs. The MFN poli...

Dr Reddy's Laboratories Ltd
12 May 2025 Company Note
CMP ₹ 1,156
Target Price ₹ 1,250
Concerns remain over medium-term outlo...

Dr Reddy’s Labs posted in-line 4Q revenue growth of 12%, with a miss on the margin front due to higher R&D spend...

H HOLD
Dr Reddy's Laboratories Ltd
24 Jan 2025 Company Note
CMP ₹ 1,289
Target Price ₹ 1,300
Weak internals

Weak 3QFY25 performance across key markets like India and the US. Semaglutide launch in Canada/ROW markets to pr...

H HOLD
Dr Reddy's Laboratories Ltd
06 Nov 2024 Company Note
CMP ₹ 1,272
Target Price ₹ 1,365
All eyes on launch pipeline post gRevl...

Dr. Reddy’s Laboratories’ 2Q earnings were in line, with no major surprises. Street is likely to remain fixated ...

H HOLD
Dr Reddy's Laboratories Ltd
28 Jul 2024 Company Note
CMP ₹ 6,879
Target Price ₹ 7,150
Strong gRevlimid boost drives 1Q beat

Dr. Reddy’s Labs’ 1QFY25 earnings were boosted by a significantly higher contribution from gRevlimid, which drov...

H HOLD
Dr Reddy's Laboratories Ltd
08 May 2024 Company Note
CMP ₹ 6,258
Target Price ₹ 6,339
In-line 4Q performance; retain HOLD

Dr Reddy’s Laboratories posted in-line 4Q performance led by strong growth in India and moderate growth in the U...

H HOLD
Dr Reddy's Laboratories Ltd
14 Feb 2024 Company Note
CMP ₹ 6,335
Target Price ₹ 6,339
Limited visibility on catalysts; retai...

Posts an in-line 3QFY24 performance led by strong growth in the US market and moderate growth in India and Russi...

H HOLD
Dr Reddy's Laboratories Ltd
29 Oct 2023 Company Note
CMP ₹ 5,397
Target Price ₹ 5,415
Slight 2Q beat; gRevlimid largely sust...

Dr. Reddy’s Laboratories’ 2QFY24 results saw a 5% EBITDA beat led by strong Russia/in-line US market performance...

H HOLD
Dr Reddy's Laboratories Ltd
27 Jul 2023 Company Note
CMP ₹ 5,476
Target Price ₹ 5,270
gRevlimid drives 1Q beat

A strong set of 1QFY24 numbers, with 5% revenue beat and 30% EBITDA beat against our expectations. The beat is l...

R REDUCE
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The Incred Research Team covers 17 sectors and 193 companies, with coverage to increase to 220 companies by the year’s end. Its senior analysts are rated by local and international fund managers.

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Aarti Drugs Ltd Aarti Industries Aavas Financiers Ltd ABB India Ltd ACC Ltd Adani Ports & Special Economic Zone Ltd Adani Power Ltd Aditya Birla Fashion and Retail Ltd Aditya Birla Sunlife AMC Aether Industries Ltd Ajanta Pharma Ltd Alembic Pharmaceuticals Ltd Alkem Laboratories Ltd Amber Enterprises Ambuja Cements Ltd Ami Organics Ltd Anupam Rasayan India Ltd Apex Frozen Foods Ltd APL Apollo Tubes Apollo Tyres Ltd Ashok Leyland Ashoka Buildcon Ltd Asian Paints Limited Astec Lifesciences Ltd Astral Ltd. Atul Ltd AU Small Finance Bank Aurobindo Pharma Avalon Technologies Avanti Feeds Ltd Axis Bank Bajaj Auto Bajaj Finance Ltd Balkrishna Industries Ltd Balrampur Chini Mills Ltd Bank of Baroda Bank of India BCL Industries Ltd Berger Paints India Limited Bharat Dynamics Ltd Bharat Electronics Ltd Bharat Forge Bharat Heavy Electricals Bharat Petroleum Birla Corporation Ltd Birlasoft Blue Dart Express Ltd Blue Jet Healthcare Bosch Ltd Britannia Industries Ltd Camlin Fine Sciences Canara Bank Century Plyboards Cera Sanitaryware Cholamandalam Investment and Finance Company Cipla Ltd Clean Science and Technology Coal India Coastal Corp Ltd Coforge Limited Colgate Palmolive India Container Corp of India Ltd Coromandel International Ltd CreditAccess Grameen Ltd Crompton Greaves Consumer Electricals Cummins India Ltd Cyient DLM Ltd Cyient Limited Dabur India Ltd Dalmia Bharat Ltd Data Patterns (India) Ltd Deepak Fertilisers & Petrochemicals Corp. Ltd. Deepak Nitrite Ltd Delhivery Dilip Buildcon Ltd Divi's Laboratories Dixon Technologies Dr Reddy's Laboratories Ltd Dr. Lal Pathlabs Ltd. Eicher Motors Ltd Elin Electronics Emami Ltd Endurance Technologies Ltd Epigral Ltd Equitas Small Finance Bank Limited Escorts Kubota Ltd Ethos Limited Exide Industries Ltd Federal Bank Finolex Cables Finolex Industries FSN Ecommerce Fusion Finance Limited GAIL India Galaxy Surfactants Ltd Gland Pharma Ltd Globus Spirits Ltd Godrej Consumer Products Ltd Granules India Ltd Gujarat Fluorochemicals Ltd Gujarat Gas Gujarat Pipavav Port Ltd Gulshan Polyols Ltd Havells India HCL Technologies HDFC AMC HDFC Bank HEG Limited Heidelberg Cement India Ltd Hero MotoCorp Hindalco Industries Ltd Hindustan Aeronautics Ltd Hindustan Petroleum Hindustan Unilever Ltd Home First Finance company Housing Development Fin. Hyundai Motor India ICICI Bank IKIO Lighting India Pesticides Ltd Indian Oil Corp Indoco Remedies Ltd Indraprastha Gas IndusInd Bank Infosys InterGlobe Aviation Ltd Ipca Laboratories Ltd IRB Infrastructure Developers Ltd IRB InvIT Fund J K Cement Ltd JB Chemicals & Pharmaceuticals Ltd Jindal Steel and Power JK Lakshmi Cement JSW Infrastructure Ltd JSW Steel Jubilant Ingrevia Ltd Jyothy Labs Limited Kajaria Ceramics Kalpataru Projects International Limited Kansai Nerolac Paints Limited Kaveri Seed Co Ltd Kaynes Technology KEC International Ltd KEI Industries KNR Constructions Ltd Kotak Mahindra Bank L&T Infotech L&T Technology Services Ltd Larsen & Toubro Ltd Laurus Labs Laxmi Organic Industries Ltd Lloyds Metals & Energy Ltd LTIMindtree Ltd Lupin Ltd Mahanagar Gas Mahindra & Mahindra Mahindra & Mahindra Finance Marico Ltd Maruti Suzuki Metropolis Healthcare Ltd. Mindtree Ltd Mphasis MTAR Technologies Limited Muthoot Finance Ltd Natco Pharma Ltd National Aluminium Co Ltd Navin Fluorine International Ltd NCC Ltd Nestle India Ltd Nippon Life India Asset Management Ltd NMDC NTPC Ltd Oil & Natural Gas Oil India Orient Cement Orient Electric Persistent Systems Ltd Petronet LNG PG Electroplast PI Industries Ltd Pidilite Industries Limited PNC Infratech Ltd Polycab India Prism Johnson Ltd Punjab National Bank Rallis India Ltd Ramco Cements Ltd Raymond Ltd Samvardhana Motherson International Ltd SBI Cards SBI Life Insurance Schaeffler India Ltd Shree Cement Ltd Shriram Finance Limited Siemens Ltd SKF India Ltd Skipper Limited Som Distilleries & Breweries Ltd Sonata Software Spandana Sphoorty Financial SpiceJet Ltd SRF Limited State Bank of India Steel Authority of India Sun Pharmaceutical Industries Supreme Industries Swiggy Ltd Syrma SGS Technology Tata Consultancy Services Tata Elxsi Ltd Tata Motors Tata Steel Tata Technologies Ltd TCPL Packaging Ltd Tech Mahindra Thermax Ltd Thyrocare Technologies Ltd. Timken Ltd Titan Co Ltd Torrent Pharmaceuticals Ltd Triveni Engineering and Industries Ltd TVS Motor Co Ltd Ugro Capital UltraTech Cement Ltd UPL Limited UTI AMC V-Guard Industries Vinati Organics VIP Industries Limited Voltas Ltd VRL Logistics Ltd Wipro Zydus Lifesciences