
Dr. Reddy’s Laboratories could post healthy growth in US sales during the quarter, following continued momentum in niche products. Domestic business could post 6-7% revenue growth over the year-ago quarter, with gastro, respiratory and cardiac therapies taking the lead. Analysts at IIFL Securities expect revenue to grow 17% over the year-ago quarter and decline 2% sequentially. Exluding Revlimid, growth could be subdued.
Key margin pressures include price pressures in US, high input cost inflation and integration of low-margin Cidmus brand in India.
The company is likely to post 39% in Profit After Tax (PAT) over the year-ago quarter.
Important management insights to watch out for:
December 2022 estimates | YoY change | QoQ change | |
Revenue (Rs mn) | 62,016 | 17% | (2)% |
EBITDA (Rs mn) | 15,339 | 28% | (15)% |
EBITDA margin | 24.7% | 214 bps | (383) bps |
Profit After Tax (Rs mn) | 9,919 | 39% | (3)% |
Source: IIFL Research
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