Axis Securities: Dr. Reddy’s Strong Growth Across Business Verticals
A worker walks past the Leadership Academy building, on the Dr. Reddy’s Laboratories Ltd. campus in Hyderabad, India (Photographer Prashanth Vishwanathan/Bloomberg)

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

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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