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Axis Securities: Dr. Reddy’s Strong Growth Across Business Verticals

Dr. Reddy’s revenue across verticals grew 20% year-on-year in Q2 on the back of new product launches and geographical expansion.

A worker walks past the Leadership Academy building, on the Dr. Reddy’s Laboratories Ltd. campus in Hyderabad, India (Photographer Prashanth Vishwanathan/Bloomberg)
A worker walks past the Leadership Academy building, on the Dr. Reddy’s Laboratories Ltd. campus in Hyderabad, India (Photographer Prashanth Vishwanathan/Bloomberg)

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Axis Securities Report

Dr. Reddy’s Laboratories Ltd. reported strong revenue growth approximately 20% YoY (inline to estimates) across business verticals based on new products launches and geographical expansions.

The company has launched 9/30/28 products in U.S./Europe/Emerging markets respectively in the last quarter that played major role to drive the growth.

The company is targeting 30 plus products to be launched in the U.S. market.

Gross margins fell by 500 basis points YoY majorily impacted by forex losses, product mix and loss of export incentives.

Click on the attachment to read the full report:

Axis Securities Dr.Reddys Lab Q2FY21 Result Update .pdf

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