18 slides from Dr. Reddy's Laboratories's earnings presentation, Oct 24, 2025
Slide 1: Regulation 30 intimation cover letter to stock exchanges
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 October 24, 2025 National Stock Exchange of India Ltd. (Scrip Code: DRREDDY)
Slide 2: Q2FY26 Results Update
Dr. Reddy’s Q2FY26 RESULTS UPDATE 24 OCTOBER 2025 1 | September 2025 | Investor Presentation | As per consolidated financial statements under IFRS
Slide 3: Safe Harbor Statement
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
Slide 4: Q2FY26 Financial Highlights
Q2FY26 Financial Highlights Near double-digit growth and steady profitability Revenues Impairment: in Middleburg due to DP ₹ 8,805 Cr 9.8%YoY 3%QoQ UNDERLYING FINANCIALS (adjusted for One-off) EBITDA | EBITDA % • Revenue growth @9.8% Underlying % 27.5% 21.6% ₹ 2,351 Cr | 26.7% 3%YoY 3%QoQ • Reported
Slide 5: Q2FY26 Business Highlights
Q2FY26 Business Highlights Continued progress on strategic priorities • Acquired Stugeron® & related brands for 18 markets in APAC (incl. key markets India & Vietnam) as well as EMEA • Launched 2 novel, Gastro-Intestinal drugs in India – Tegoprazan as ‘PCAB®’ & Linaclotide as ‘Colozo®’ • Partnered w
Slide 6: Q2FY26 Other Highlights
Q2FY26 Other Highlights ESG OTHER UPDATES • MSCI ESG Rating of ‘A’ for 2nd consecutive year • FTO-11, CTO-5 Middleburgh classified as ‘VAI’, post GMP inspections • Morningstar Sustainalytics' ESG Risk Rating improved to 18.4 (low risk) • USFDA conducted PAI at biologics facility (Bachupally), issued
Slide 7: Q2FY26 Revenue Split
Q2FY26 Revenue Split Broad-based growth, moderated by softness in US generics REVENUE BY SEGMENT GLOBAL GENERICS SPLIT North America Europe* GLOBAL GENERICS ₹ 3,241 Cr ₹ 1,376 Cr 89% 13%YoY 5%QoQ 138%YoY 8%QoQ Overall 37% 15% ₹ 8,805 Cr 9.8%YoY 3%QoQ PSAI 11% 18% India OTHERS 0% ₹ 1,578 Cr 13%YoY 7%
Slide 8: Key Financial Metrics
Key Financial Metrics Sustaining growth & profitability, while investing for the future REVENUES GROSS MARGINS SG&A R&D EBITDA MARGINS (₹ Cr) (% of Revenues) (% of Revenues) (% of Revenues) (% of Revenues) Q2FY26 8,805 Q2FY26 54.7% Q2FY26 30.0% Q2FY26 7.0% Q2FY26 26.7% Q1FY26 8,545 Q1FY26 56.9% Q1FY
Slide 9: Q2FY26 North America Performance
Q2FY26 North America Performance Impacted due to price erosion, lower Lenalidomide sales MARKET PERFORMANCE KEY UPDATES 37% -2.1% VS -0.1% • IND application for COYA 302 accepted by USFDA DRL Growth vs US Generic Market (Excl. Lenalidomide) *As per IQVIA MAT Aug’ 25 • Launched Sacubitril Valsartan T
Slide 10: Q2FY26 India Performance
Q2FY26 India Performance Double-digit growth delivery MARKET PERFORMANCE* KEY UPDATES 18% 9.4% VS 7.8% DRL MAT Growth vs IPM • Acquired Stugeron® & leading local brands from Janssen Pharmaceutica (affiliate of Johnson & IPM RANK Johnson) for 18 markets, including India as a key #9 #10 markets for US
Slide 11: Q2FY26 Emerging Markets Performance
Q2FY26 Emerging Markets Performance New product launches & favourable forex driving growth KEY UPDATES 19% COUNTRIES PRESENT IN • Launched Skorolox, first INN loxoprofen in Russia, 48 indicated for treatment of acute upper respiratory tract infections NEW PRODUCT LAUNCHES Revenues 24 50 ₹ 1,655 Cr Q
Slide 12: Q2FY26 Europe Performance
Q2FY26 Europe Performance Growth underpinned by acquired NRT business KEY UPDATES 15% COUNTRIES PRESENT IN • NRT integration progressing well : 2/3rd business value integrated 20 - Canada, Australia & some Western European countries now completed Revenues NEW PRODUCT ₹ 1,376 Cr LAUNCHES REVENUE SPLI
Slide 13: Q2FY26 PSAI Performance
Q2FY26 PSAI Performance Lower operating leverage and product mix shifts weigh on margins 10% KEY UPDATES GROSS MARGIN • Partnered with Unitaid, Clinton Health Access Initiative & Wits RHI to make HIV prevention tool, Lenacapavir, accessible in LMICs 18% VS 30% Q2FY26 vs Q2FY25 Revenues ₹ 945 Cr DMF
Slide 14: In Summary
In Summary A diversified business model with broad based levers STRENGTHEN CORE BUSINESSES ACROSS MARKETS ADVANCE KEY PIPELINE PRODUCTS (SEMAGLUTIDE, ABATACEPT) DRIVE EFFICIENCIES THROUGH BETTER OPERATIONAL LEVERAGE AUGMENT ORGANIC GROWTH WITH M&A and IN-LICENSING STRENGTHEN CAPABILITIES – PEOPLE, D
Slide 15: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ Cr) Q2FY26 Q2FY25 YoY Gr % Q1FY26 QoQ Gr% H1FY26 H1FY25 YoY Gr % Revenues 8,805 8,016 10 8,545 3 17,350 15,689 11 Cost of Revenues 3,991 3,239 23 3,682 8 7,673 6,278 22 Gross Profit 4,814 4,777 1 4,863 (1) 9,677 9,411 3 % of Revenues 54.7% 59.6% 56.9% 55.
Slide 16: At a glance
At a glance We accelerate access to affordable and innovative medicines because Good Health Can’t Wait. ~756mn patients reached globally $3.8bn Revenue 17% Revenue Growth 28% EBITDA Margin ~28% RoCE 26,000+ Employees globally 57 Nationalities (Employees) 83 Markets served 32 Plants (Manufacturing &
Slide 17: About Key Metrics and Non-GAAP Financial Measures
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
Slide 18: Good Health Can't Wait.
Good Health Can’t Wait. 17 | September 2025 | Investor Presentation | As per consolidated financial statements under IFRS