NSE: DRREDDY· HealthCareNot in Aug top-30Large cap
Dr Reddy's Laboratories
Cyclical: bought at the gRevlimid cliff
- Last close
- ₹1,251.90
- 29 Sept 2026 · reference
- 1D · 1M
- +2.5% · +6.3%
- price-only
- Weight
- 0.7%
- 31 Jul 2026 · Aug rank —
- Thesis review
- 8 Sep 2026
- Why We Own, p45
Where the price sits
52-week range, house target and street targets
52w low ₹1,13652w high ₹1,376
- Reference close₹1,252
- Antique Stock Broking Limited · HOLD₹1,160
Range from reference closes; street targets from the PDFs on file (Research & documents). Internal target is never shown to prospects.
Investment case and valuation
Approved model, 8 Sep 2026 review
₹1,145
Price (2026-09-07)
19.2x / 30.6x
FY27E / FY28E P/E (Buoyant sheet)
14.2%
FY27E ROE (Buoyant sheet)
29.6x
Trailing P/E
2.5x
Price / book
4%
EPS CAGR FY26–28E
TTM PE 29.6x is inflated by trough earnings (Q4FY26 PAT Rs 221 cr, Q1FY27 Rs 443 cr); on FY28E it is ~21x vs Axis' 20x target multiple. 5-yr average PE not sourced. EV/EBITDA computed on mcap less Rs 3,058 cr net cash over FY26 EBITDA. EV/EBITDA 14.3x; dividend yield 0.7%.
- Model date
- 8 Sep 2026 (prices 7–8 Sep 2026)
- Horizon
- 12 months (bank pages: Sep-2027 roll-forward)
- Audience
- Internal — the book's guardrail: do not quote a target to a client; quote the thesis and the risk
- Reviewer · version
- Investment Committee framework · v1 (book)
Current vs history
Trailing multiples, FY-end
| Ratio | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 33.8x | 36.5x | 23.6x | 25.6x | 38.5x | 32.8x | 17.1x | 18.4x | 16.9x | 25.0x |
| Price to Book | 3.6x | 2.8x | 3.3x | 3.3x | 4.3x | 3.8x | 3.3x | 3.7x | 2.9x | 2.8x |
Tijori FY-end multiples on reported earnings/book; compatible definitions across years, but not the same basis as Buoyant's forward P/E on internal EPS.
UnavailableScenario lab disabled. Needs an approved forward EPS and forward P/E for Dr Reddy's Laboratories plus a reference price. Missing inputs are not substituted.