Dr. Reddy's Laboratories Ltd.
8-2-337, Road No. 3, Banjara Hills
Hyderabad – 500 034, Telangana, India
CIN: L85195TG1984PLC004507
Tel: + 91 40 4900 2900
Fax: + 91 40 4900 2999
Email: mail@drreddys.com
Web: www.drreddys.com
May 9, 2025
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY)
BSE Limited. (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 – Q4 FY25 Audited Financial Results Presentation
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, we are enclosing herewith the presentation on the Audited
Financial Results of the Company for the quarter and Financial Year ended March 31, 2025.
This is for your information and records.
Thanking you.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
KUMAR Digitally signed by
KUMAR RANDHIR SINGH
RANDHIR Date: 2025.05.09
SINGH 17:54:04 +05'30'
K Randhir Singh
Company Secretary, Compliance Officer & Head-CSR
Encl: as above
Q4 & FY25
FINANCIAL RESULTS
May 9, 2025
1
Safe Harbor Statement
This presentation contains forward-looking statements and information that involve risks, uncertainties and assumptions. Forward-looking statements are all
statements that concern plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than
statements of historical fact, including, but not limited to, those that are identified by the use of words such as “anticipates”, “believes”, “estimates”, “expects”,
“intends”, “plans”, “predicts”, “projects” and similar expressions. Risks and uncertainties that could affect us include, without limitation:
General economic and business conditions in India and other key global markets in which we operate;
The ability to successfully implement our strategy, our research and development efforts, growth & expansion plans and technological changes;
Changes in the value of the Rupee and other currency changes;
Changes in the Indian and international interest rates;
Allocations of funds by the Governments in our key global markets;
Changes in laws and regulations that apply to our customers, suppliers, and the pharmaceutical industry;
Increasing competition in and the conditions of our customers, suppliers and the pharmaceutical industry; and
Changes in political conditions in India and in our key global markets.
Should one or more of such risks and uncertainties materialize, or should any underlying assumption prove incorrect, actual outcomes may vary materially from
those indicated in the applicable forward-looking statements.
For more detailed information on the risks and uncertainties associated with the Company’s business activities, please see the company’s annual report filed in
Form 20-F with the US SEC for the fiscal year ended March 31, 2024 and quarterly financial statements filed in Form 6-K with the US SEC for the quarter ended
Jun 30, 2024, Sep 30, 2024, Dec 31, 2024 and our other filings with US SEC. Any forward-looking statement or information contained in this presentation speaks
only as of the date of the statement. We are not required to update any such statement or information to either reflect events or circumstances that occur after
the date the statement or information is made or to account for unanticipated events.
2 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Record annual revenue & highest ever EBITDA in FY25
Q4 FY25
Performance Performance
₹ 8,506Cr ₹ 32,554 Cr FINANCIAL HIGHLIGHTS
Revenues Revenues
20%YoY 2% QoQ 17%YoY
Highest ever quarterly revenues & profits in Q4
₹ 2,475 Cr | 29% ₹ 9,213 Cr | 28% Double-digit FY25 Revenue growth at 17%
EBITDA | EBITDA % EBITDA | EBITDA % Underlying growth excl. acquired Consumer healthcare (NRT)
business @12%
32%YoY 8% QoQ 11%YoY
Robust FY25 EBITDA and RoCE at 28%
₹ 2,005 Cr | 24% ₹ 7,678 Cr | 24%
PBT | PBT % PBT | PBT % A strong balance sheet with Net cash surplus of ₹2,454 Cr
25%YoY 7% QoQ 7%YoY
₹ 1,594^ Cr | 19% ₹ 5,654^ Cr | 17%
PAT | PAT % PAT | PAT %
22%YoY 13% QoQ 2%YoY
^After adjusting for minority interest
3 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Continued progress on our priorities, in line with stated strategy
KEY HIGHLIGHTS
UK integration completed in May’25 for acquired Nicotine Replacement Therapy (NRT)
Partnered with Henlius for exclusive commercialization rights of daratumumab biosimilar for the US & Europe
Partnered with Bio-Thera to commercialize ustekinumab & golimumab biosimilars, primarily for Southeast Asia
Denosumab biosimilar filing accepted by USFDA
Expanded partnership with Sanofi for novel drug, Beyfortus®(nirsevimab) in India for preventing RSV
Launched partnered product, SensimuneTM, indicated for house dust mite-induced allergies, in India
Participated in Government of India’s Jan Aushadhi Program with one of our products
4 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Recognitions for our continued efforts in sustainability
KEY HIGHLIGHTS
EcoVadis score @73, among top 15% assessed globally
‘CSR Program of the Year’ at Financial Express – Pharma Awards 2025
CII’s ‘Climate Action Program 2.0° Award’ in ‘Resilient’ category - Light Manufacturing Sector
‘Leadership’ category in Indian Corporate Governance Score Card 2024 by Institutional Investor Advisory
Services
OTHER UPDATES
Received ‘VAI’ status from USFDA for API facility, CTO-2, in Bollaram, Hyderabad
5 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Q4 : Overall double-digit growth driven by performance across geographies, aided
by Consumer healthcare (NRT) revenues
Q4 REVENUE BY SEGMENT GLOBAL GENERICS SPLIT IN Q4
₹ 3,559 Cr ₹ 1,275* Cr
North America Europe
GLOBAL GENERICS 145%YoY* 5% QoQ*
9%YoY 5% QoQ
89%
42% 15%
₹ 8,506 Cr
20%YoY# 2%QoQ#
PSAI
11%
15%
OTHERS ₹ 1,305 Cr
0.2% India
16%YoY 3% QoQ
₹ 7,536 Cr ₹ 956 Cr
Pharmaceutical Services &
Global Generics Active Ingredients (PSAI)
23%YoY^ 2% QoQ^ 16%YoY 16% QoQ ₹ 1,398 Cr
16%
Emerging Markets
16%YoY 3% QoQ
# Underlyingoverall growth excl. NRT @12% YoY and 2% QoQ *Includes revenues from the acquired NRT business
^Underlying growth excl. NRT @13% YoY and 2% QoQ Underlying growth excl. NRT @30% YoY & 12% QoQ
6 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
FY25 : Double-digit growth across geographies
FY25 REVENUE BY SEGMENT GLOBAL GENERICS SPLIT IN FY25
₹ 14,516 Cr ₹ 3,588* Cr
North America Europe
GLOBAL GENERICS
12%YoY 75%YoY*
89%
45% 11%
₹ 32,554 Cr
17%YoY#
PSAI
10%
17%
OTHERS ₹ 5,373 Cr
1% India
16%YoY
₹ 28,955 Cr ₹ 3,385 Cr
Pharmaceutical Services &
Global Generics Active Ingredients (PSAI)
18%YoY^ 14%YoY ₹ 5,477 Cr
17%
Emerging Markets
13%YoY
# Underlyingoverall growth excl. NRT @12% YoY *Includes revenues from the acquired NRT business
^Underlying growth excl. NRT @13% YoY Underlying growth excl. NRT @16% YoY
7 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Investing
Q1 FY24 and upscaling commercial and R&D capabilities
Performance
GROSS MARGINS (% of Revenues) SG&A EXPENSES (% of Revenues) R&D EXPENSES (% of Revenues)
Q4FY25 55.6% Q4FY25 28.3% Q4FY25 8.5%
Q3FY25 58.7% Q3FY25 28.9% Q3FY25 8.0%
Q4FY24 58.6% Q4FY24 28.9% Q4FY24 9.7%
CAPEX (₹ Cr) FREE CASH FLOW (₹ Cr) NET DEBT / EQUITY
FY25 2,699 FY25* 1332 -0.07 Mar '25^
767 1110
FY24 1517 FY24* 2672 -0.23 Mar '24
FY23 1132 FY23* 4566 -0.21 Mar '23
FY22 1466 FY22 1191 -0.08 Mar '22
FY21 974 FY21* 2464 -0.04 Mar '21
*Before acquisition related payouts
^Net Cash Surplus stood at ₹2,454 Cr. as on 31st Mar 2025
8 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Demand-led growth offset by price erosion
North America
Q4FY25
Performance
MARKET NEW PENDING
42%
PERFORMANCE LAUNCHES APPROVAL
3.9% vs. 3.8% 7 18 73 3
DRL Growth vs. US Generic Q4 FY25 ANDAs NDAs
Market Growth*
Includes 46 Para IVs & 20 FTFs
*As per IQVIA MAT for Feb’ 25
Revenues
₹ 3,559 Cr
9%YoY 5% QoQ
PRICE NEW OTHER
GROWTH DRIVERS EROSION FILINGS UPDATES
Divested Shreveport
New launches, product
STABLE 7 10 manufacturing facility,
specific opportunities, Q4 FY25 Louisiana
offset by price erosion (for mature portfolio)
ANDAs
9 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Growing in double digits, new products performance has been encouraging
India
Q4FY25
Performance
MARKET NEW BRAND BRANDS IN
15%
PERFORMANCE LAUNCHES TOP 300 IPM
8.4% vs. 8.0% 23 17
+ Sanofi, Nestlé
DRL Growth vs. IPM Growth* FY25
*As per IQVIA MAT Mar’25 As per IQVIA Mar’25
Revenues
₹ 1,305 Cr
16%YoY 3% QoQ
MARKET THERAPY BRANDS WITH
GROWTH DRIVERS RANKING LEADERSHIP ₹100 CR+ SALES
YoY: New product #2 21
launches, incl. in-licensed
10th #1
STOMATO- VACCINES
vaccine portfolio from Sanofi
LOGICALS
and price increase
As per IQVIA Mar’25 As per IQVIA Mar’25 As per IQVIA Mar’25
QoQ: Slower than expected
growth in certain TAs like
Gastro, Cardio, & Pain.
10 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Emerging New launches & higher sales volumes drive double-digit growth
Markets Q4FY25
Performance
REVENUE SPLIT
16% ₹ 655 Cr
Russia
31%YoY 7% QoQ
YoY growth from new product
launches & higher volumes
QoQ decline due to slower
volume growth
CISR
Revenues 17% ₹ 244 Cr
NEW
₹ 1,398 Cr RoW CISR
36%
13%YoY 1% QoQ
LAUNCHES
16%YoY 3% QoQ
Growth driven by higher 26 85
base business volumes Q4 FY25
GROWTH DRIVERS Russia
47% New Products across markets
YoY: New launches & ₹ 499 Cr
higher volumes in base RoW
business
1%YoY 1% QoQ
QoQ: Lower volumes
Contribution from new product
launches, partially offset by
lower business volumes & price.
11 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS 11
Base business growth aided by acquired NRT business revenues
Europe
Q4FY25 REVENUE SPLIT
Performance
₹ 597 Cr
STRATEGIC
15%
Acquired NRT Business HIGHLIGHTS
1% QoQ Integration of 1st country, UK,
completed
Next wave of countries to be
₹ 355 Cr integrated - Nordics
Germany
France, Italy, Acquired 26%YoY 7% QoQ
Revenues NRT
Others
₹ 1,275* Cr 8% Business
47%
UK ₹ 216 Cr
145%YoY* 5% QoQ* UK
17%
43%YoY 14% QoQ NEW
GROWTH DRIVERS Germany
LAUNCHES*
28%
₹ 106 Cr
Acquired NRT business France, Italy, Others 10 39
Improved sales volumes, Q4 FY25
20%YoY 27% QoQ
new product launches, *Excl. Acquired NRT business
partially offset by price
erosion in base business
*Includes revenues from acquired NRT business of
₹597 Cr. Underlying growth excl. NRT @30% YoY &
12% QoQ.
12 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS 12
PSAI Growth led by new launches and higher API volumes as well
Q4FY25 as growth in services business
Performance
11%
GROSS NEW
Revenues MARGIN FILINGS (DMFs)
₹ 956 Cr
26.3% 27.1% 52 111
16%YoY 16% QoQ Q4 FY25 Q4 FY25
GROWTH DRIVERS
API growth driven by
new launches & higher
volumes.
Growth in CDMO
business
13 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS 13
In Summary
A diversified business model with broad based levers
STRENGTHEN CORE BUSINESSES ACROSS MARKETS WITH A
ROBUST PRODUCT PORTFOLIO
INVEST IN INNOVATIVE & DIFFRENTIATED PRODUCTS (NCEs, CDMO,
CONSUMER HEALTH)
DRIVE OPERATIONAL EFFICIENCY & PRODUCTIVITY
FOCUS ON QUALITY AND COMPLIANCE
STRENGTHEN CAPABILITIES – PEOPLE, DIGITAL, PROCESSES
INTEGRATE ESG INTO BUSINESS
14 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
About key metrics and non-GAAP Financial Measures
This press presentation contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial
measures are measures of our historical performance, financial position or cash flows that are adjusted to exclude or include amounts, as the case may be, from
the most directly comparable financial measure calculated and presented in accordance with IFRS.
The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared
and presented in accordance with IFRS. Our non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. These
measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes.
We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable
comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with
respect to key metrics used by management in operating our business.
For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please refer to "Reconciliation of GAAP to Non-
GAAP Results" table in the press release.
15 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
Good
Health
Can’t
Wait.
16 | May 9, 2025 | Q4 & FY25 Results Update | As per consolidated financial statements under IFRS
