Dr Reddy’s – Continuing its healthy growth across the globe

[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”.vc_custom_1691068756722{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}”]Dr Reddy’s Laboratories is a leading Indian pharmaceutical company and the fourth largest in terms of market capitalisation. It was incorporated in the year 1984 in Hyderabad by Dr Anji Reddy with an initial capital outlay of Rs 25 lakh. In 1986, the company shares were listed on the Bombay Stock Exchange.

It has three key verticals, PSAI (Pharmaceutical Services and Active Ingredients), GG (Global Generics) and Proprietary Products. The Company offers a portfolio of products and services, including APIs (Active Pharmaceutical Ingredients), generics, biosimilars and differentiated formulations.

Growth momentum continues in Q1FY24

In the recently announced Q1FY24 results, the company recorded its highest revenue and net profits in the last five quarters, indicating healthy growth.

Commenting on the Q1FY24 results, Co-Chairman & MD, G V Prasad said: “We delivered strong sales growth and witnessed robust margin expansion in Q1FY24 driven by market share gains & new product momentum in our US generics business and superior performance in Russia. We are on track in executing our strategy, delivering growth while continuing to invest in future growth drivers and innovation to create sustainable value.”

The Q1FY24 results continue the growth momentum from the past few quarters. On analyzing the revenues and net profits for the last five financial years, the company ended FY23 on a strong note with its highest-ever revenues and net profits.

The company has consistently seen its revenues grow for the past four years, with FY23 revenues reaching Rs 25,725.2 crore. Notably, in FY23, the profits also grew sharply, doubling from the previous year.

The growth in Q1FY24 came from contributions from each of the business units. In the GG (Global Generics) vertical, growth was driven by North America, Emerging markets, and Europe.

The growth in North America was primarily due to new product launches, continued momentum in existing products, favorable forex rate movements, partly offset by price erosion. Other factors aiding this geography include the launch of six new products in the US and two in Canada.

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