27 Oct 2022 , 07:38 AM
Result date: 28th October, 2022
Recommendation: Buy
Target price: Rs4,450
(Source: IIFL Research)
Dr. Reddy's Laboratories (DRL) is likely to post muted set of results for the quarter ended September 30, 2022. Growth in Russia sales, as well as favorable currency would augur well for the company. DRL’s US sales could grow at a healthy pace post launch of gRevlimid. Overall, revenue could grow 11.9% sequentially and 1.3% over the year-ago quarter.
The company’s EBITDA though could come under pressure amid a high base of September 2021 quarter wherein DRL registered one off milestone income.
DRL’s Profit After Tax (PAT) could decline 4.8% over the year-ago quarter and 25.3% sequentially owing to volatility in emerging market currencies.
Important management insights to watch out for:
Rs. Million | September 2022 estimates | QoQ change | YoY change |
Revenue | 58,389 | 11.9% | 1.3% |
EBITDA | 13,492 | 42.5% | 0.9% |
Profit After Tax | 8,869 | (25.3)% | (4.8)% |
Source: Brokerage Reports
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