Dr. Reddy's Laboratories Limited
NSE Symbol DRREDDY
Q3 FY 2011 RESULTS ANALYSIS
Dr.Reddy’s Laboratories Limited has performed well in the third Quarter of FY 2011 ending December,2010. The stand alone Results for the quarter are compared and analyzed below:
Net Sales is Rs.1364.79 cr – up by 6.76% from Q2 FY 11; by 8.64% from Q1 FY 11; up by 18.43% from Q4 FY 10; and UP by 32.33% from Q3 FY 10. The increase in Sales is very consistent and quite impressive.
Total Expenditure is Rs.1100.39 cr – up by 1.48% from Q2 FY 11; Up by 8.64% from Q1 FY 11; up by 14.6% from Q4 FY 10; and up by 27.89% from Q3 FY 10. Expenditure has also increased, but less than proportionately compared with Sales.
Profit from Operations has therefore increased to Rs.279.24 Cr – up by 34.39% from Q2 FY 11; up by 10.5% from Q1 FY 11; up by 34.19% from Q4 FY 10; and up by a Good 54.83% from Q3 FY 10.
Net Profit is Rs.262.77 cr – up by 19.33% from Q2 FY11; up by 7.48% from Q1 FY11; up by 3.8% from Q4 FY 10; and up by a Good 56.02% from Q3 FY 10.
On a face Value of Rs.5, the Basic EPS is Rs.15.53, against Rs.13.02 in Q2 FY 11; Rs.14.48 in Q1 FY 11; Rs.14.99 in Q4 FY 10; and Rs.9.98 in Q3 FY 10.
Current MP is Rs.1587.55. Current year annual EPS is likely to be around Rs.58.6. Current PE Ratio is therefore around 27.
DR.REDDY'S has been launching new products consistently and therefore, its future profitability GROWTH m seems to be assured.
STAND ALONE RESULTS TABLE :
| DRREDDY | 31-Dec-10 | 30-Sep-10 | 30-Jun-10 | 31-Mar-10 | 31-Dec-09 |
| Net Sales | 136479 | 127832 | 125622 | 115237 | 103136 |
| Net Sales | 136479 | 6.76 | 8.64 | 18.43 | 32.33 |
| Other Operating Income | 1484 | 1380 | 935 | 1590 | 943 |
| Incr./decr. in SIT / WIP | -5052 | 468 | -3373 | -2645 | -4841 |
| Raw Materials | 48772 | 41972 | 43826 | 40799 | 40443 |
| Employees Cost | 16916 | 18910 | 15389 | 14011 | 12297 |
| Depreciation | 6389 | 6135 | 5720 | 6096 | 5454 |
| Other Expenditure | 43014 | 40948 | 39724 | 37756 | 32691 |
| Total Expenditure | 110039 | 108433 | 101286 | 96017 | 86044 |
| Total Expenditure | 110039 | 1.48 | 8.64 | 14.6 | 27.89 |
| Profit from Operations | 27924 | 20779 | 25271 | 20810 | 18035 |
| Profit from Operations | 27924 | 34.39 | 10.5 | 34.19 | 54.83 |
| Other Income5 | 3721 | 5711 | 2661 | 11616 | 4559 |
| Interest6 | 54 | 13 | 46 | 489 | 275 |
| Profit before tax | 31591 | 26477 | 27886 | 31937 | 22319 |
| Tax expense | 5314 | 4457 | 3438 | 6621 | 5477 |
| Net Profit | 26277 | 22020 | 24448 | 25316 | 16842 |
| Net Profit | 26277 | 19.33 | 7.48 | 3.8 | 56.02 |
| Face Value (In Rs | 5 | 5 | 5 | 5 | 5 |
| Paid Up Equity | 8461 | 8460 | 8457 | 8442 | 8441 |
| Basic EPS | 15.53 | 13.02 | 14.48 | 14.99 | 9.98 |
| Diluted EPS | 15.45 | 12.94 | 14.37 | 14.91 | 9.92 |
| Public Holding (%) | 54.92 | 58.19 | 58.47 | 59.69 | 59.45 |
ANNOUNCEMENTS
TO THE EXCHANGE
25-01-2011 Dr. Reddy's Laboratories Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 136479 lacs for quarter ending on 31-DEC-2010 against Rs. 103136 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 26277 lacs for the quarter ending on 31-DEC-2010 against Rs. 16842 lacs for the quarter ending on 31-DEC-2009.
20-01-2011 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding a press release dated January 20, 2011, titled "Dr. Reddy's announces the launch of Pantoprazole Sodium delayed-released tablets".
22-12-2010 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding a press release dated December 21, 2010, titled "Dr. Reddy's enters into an agreement with R-Pharm of Russia collaboration in the areas of high-technology and knowledge sharing".
24-11-2010 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding the press release dated November 23, 2010, titled "GlaxoSmithKline and Dr. Reddy's agree to the sale of US Penicillin Facility and Products".
22-11-2010 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding the press release dated November 20, 2010, titled "Dr. Reddy's announces the Launch of Zafirlukast Tablets".
25-10-2010 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding the press release dated October 25, 2010, titled "Dr. Reddy's expands portfolio in Russia & CIS through in-licensing deals".
23-10-2010 Dr. Reddy's Laboratories Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 127832 lacs for quarter ending on 30-SEP-2010 against Rs. 107322 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 22020 lacs for the quarter ending on 30-SEP-2010 against Rs. 19706 lacs for the quarter ending on 30-SEP-2009.
18-10-2010 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding a Press Release dated October 16, 2010 titled "Dr. Reddy's announces the approval of Lansoprazole delayed-release capsules".
09-08-2010 Dr. Reddy'S Laboratories Limited has informed the Exchange regarding a Press Release dated August 09, 2010 titled "Dr. Reddy's launches darbepoetin alfa in India under the brand name 'Cresp'".
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