Dr Reddys Laboratories Ltd 6-K, filed Oct 23, 2026

Dr Reddys Laboratories Ltd (RDY)

6-K 2026-10-23 For: 2026-10-23

Added on October 23, 2026

About this 6-K

Dr Reddys Laboratories Ltd filed this 6-K on October 23, 2026.

Dr. Reddy’s Laboratories Ltd. reported Q2FY27 revenues of ₹ 86,708 Mn and profit attributable to equity holders of ₹ 9,250 Mn, while certain semaglutide batches were out of specification and measures were under way to resume supplies. AI summary

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Exhibit Number		Description of Exhibits

99.1		Outcome of the Board Meeting held on October 23, 2026

99.2		Press Release, “Dr. Reddy’s Q2 FY 2027 Financial Results”, October 23, 2026.

99.3		IFRS Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026.

99.4		Ind AS Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026.

99.5		Ind AS Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2026.

	DR. REDDY’S LABORATORIES LIMITED (Registrant)

Date: October 23, 2026	By:	/s/ K Randhir Singh
		Name:	K Randhir Singh
		Title:	Company Secretary & Compliance Officer

	Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills Hyderabad – 500 034, Telangana, India CIN: L85195TG1984PLC004507

	Tel: + 91 40 4900 2900
	Fax: + 91 40 4900 2999
	Email: mail@drreddys.com
	Web: www.drreddys.com

	CONTACT
DR. REDDY’S LABORATORIES LTD. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India.	Investor relationS	Media relationS
	AISHWARYA SITHARAM	SANTOSH VYAS
	aishwaryasitharam@drreddys.com	santoshvyas@drreddys.com

Particulars	Q2FY27	H1FY27
*Revenues*	₹ 86,708 Mn [Down: 1.5% YoY; Up 7.4% QoQ]	₹ 167,413 Mn [Down: 3.5% YoY]
*Gross Margin*	52.1% [Q2FY26: 54.7%; Q1FY27: 46.5%]	49.4% [H1FY26: 55.8%]
*EBITDA*	₹ 17,828 Mn [20.6% of Revenues]	₹ 27,915 Mn [16.7% of Revenues]
*Profit before Tax*	₹ 12,277 Mn [14.2% of Revenues]	₹ 17,803 Mn [10.6% of Revenues]
*Profit after Tax* attributable to Equity Holders	₹ 9,250 Mn [10.7% of Revenues]	₹ 13,685 Mn [8.2% of Revenues]

Particulars	Q2FY27		Q2FY26		YoY			Q1FY27		QoQ
	(₹)		(₹)		Gr %			(₹)		Gr%
Global Generics		77,927		78,498		(1	)		71,993		8
North America		24,890		32,408		(23	)		22,048		13
Emerging Markets		20,595		16,548		24			18,328		12
India		18,508		15,780		17			17,177		8
Europe		13,935		13,761		1			14,440		(3	)
Pharmaceutical Services and Active Ingredients (PSAI)		8,310		9,450		(12	)		8,519		(2	)
Others		471		103		357			193		145
Total		86,708		88,051		(2	)		80,705		7

Particulars	H1FY27		H1FY26		YoY
	(₹)		(₹)		Gr%
Global Generics		149,920		154,118		(3	)
North America		46,938		66,531		(29	)
Emerging Markets		38,923		30,590		27
India		35,684		30,491		17
Europe		28,375		26,505		7
PSAI		16,829		17,631		(5	)
Others		664		1,754		(62	)
Total		167,413		173,503		(4	)

Particulars	As on 30^th Sep 2026				As on 30^th Jun 2026				As on 30^th Sep 2025
	($)		(₹)		($)		(₹)		($)		(₹)
Cash & Cash Equivalents and Other Investments		904		86,670		955		91,508		776		74,393
Trade Receivables		1,058		101,399		1,049		100,557		1,020		97,738
Inventories		847		81,182		840		80,473		791		75,821
Property, Plant, and Equipment		1,201		115,097		1,206		115,549		1,169		111,981
Goodwill and Other Intangible Assets		1,222		117,145		1,215		116,463		1,182		113,240
Loans and Borrowings (Current & Non-Current)		754		72,287		751		71,952		611		58,539
Trade Payables		377		36,082		391		37,497		420		40,248
Equity		4,063		389,370		4,036		386,735		3,778		362,082

Particulars	As on 30^thSep 2026
	(₹)
Inventories		81,182
Trade Receivables		101,399
Less:
Trade Payables		(36,082	)
Operating Working Capital		146,499

Particulars	Three months ended 30^th Sep 2026
	(₹)
Net cash generated from operating activities		10,164
Less:
Taxes		(4,880	)
Investments in Property, Plant & Equipment and intangibles		(3,579	)
Free Cash Flow before Acquisitions		1,705
Less:
Acquisitions related pay-out		-
Free Cash Flow		1,705

Particulars	As on 30^th Sep 2026
	(₹)
Profit before Tax		12,277
Less:
Interest and Investment Income (Excluding forex gain/loss)		159
Earnings Before Interest and taxes [A]		12,436

Average Capital Employed [B]		359,967

Annualized Return on Capital Employed (A/B) (Ratio)		9.5	%

	As on
Particulars	Sep 30, 2026			Mar 31, 2026
Property Plant and Equipment		115,097			115,930
Intangibles		104,165			105,059
Goodwill		12,980			12,893
Investment in Equity Accounted Associates		5,867			5,673
Other Current Assets		38,465			36,256
Other Non-Current Assets		1,051			1,226
Inventories		81,182			76,531
Trade Receivables		101,399			101,219
Derivative Financial Instruments		(5,034	)		(6,743	)
Less:
Other Liabilities		45,055			53,702
Provisions		7,374			7,659
Trade payables		36,082			33,411
Operating Capital Employed		366,661			353,272
Average Capital Employed		359,967

		Quarter ended									Half year ended						Year ended
Sl. No.	Particulars	30.09.2026			30.06.2026			30.09.2025			30.09.2026			30.09.2025			31.03.2026
		(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Audited)
1	Revenues		86,708			80,705			88,051			167,413			173,503			335,933
2	Cost of revenues		41,504			43,165			39,911			84,669			76,736			158,669
3	Gross profit (1 - 2)		45,204			37,540			48,140			82,744			96,767			177,264
4	Selling, general and administrative expenses		28,075			28,820			26,436			56,895			52,083			106,763
5	Research and development expenses		5,235			5,766			6,202			11,001			12,446			24,058
6	Impairment of non-current assets, net		123			15			662			138			662			3,519
7	Other income, net		(912	)		(845	)		(2,673	)		(1,757	)		(3,412	)		(7,627	)
	Total operating expenses		32,521			33,756			30,627			66,277			61,779			126,713

8	Results from operating activities [(3) - (4 + 5 + 6 + 7)]		12,683			3,784			17,513			16,467			34,988			50,551
	Finance income		919			2,989			1,681			3,908			4,081			7,870
	Finance expense		(1,248	)		(1,255	)		(907	)		(2,503	)		(1,737	)		(3,738	)
9	Finance income, net		(329	)		1,734			774			1,405			2,344			4,132
10	Share of profit/(losses) of equity accounted investees, net of tax		(77	)		8			63			(69	)		65			134
11	Profit before tax (8 + 9 + 10)		12,277			5,526			18,350			17,803			37,397			54,817
12	Tax expense, net		3,143			1,178			4,082			4,321			9,033			12,351
13	Profit for the period/year (11 - 12)		9,134			4,348			14,268			13,482			28,364			42,466

	Attributable to:
	Equity holders of the parent company		9,250			4,435			14,372			13,685			28,549			42,850
	Non-controlling interests		(116	)		(87	)		(104	)		(203	)		(185	)		(384	)

14	Earnings per equity share attributable to equity shareholders of parent
	Basic earnings per share of Re.1/- each		11.11			5.32			17.26			16.43			34.30			51.48
	Diluted earnings per share of Re.1/- each		11.10			5.32			17.25			16.42			34.26			51.42
			(Not annualised)			(Not annualised)			(Not annualised)			(Not annualised)			(Not annualised)

	As at			As at
Particulars	30.09.2026			31.03.2026
	(Unaudited)			(Audited)
ASSETS
Current assets
Cash and cash equivalents		13,294			15,368
Other investments		62,948			72,446
Trade and other receivables		101,399			101,219
Inventories		81,182			76,531
Derivative financial instruments		287			155
Other current assets		38,465			36,256
Total current assets		297,575			301,975
Non-current assets
Property, plant and equipment		115,097			115,930
Goodwill		12,980			12,893
Other intangible assets		104,165			105,059
Investment in equity accounted investees		5,867			5,673
Other investments		10,428			10,695
Deferred tax assets		23,155			22,436
Tax assets		4,163			3,459
Other non-current assets		1,051			1,226
Total non-current assets		276,906			277,371
Total assets		574,481			579,346

LIABILITIES AND EQUITY
Current liabilities
Trade and other payables		36,082			33,411
Short-term borrowings		58,260			59,135
Long-term borrowings, current portion		2,334			6,003
Provisions		7,255			7,550
Tax liabilities		2,805			4,310
Derivative financial instruments		5,321			6,898
Other current liabilities		42,434			50,259
Total current liabilities		154,491			167,566
Non-current liabilities
Long-term borrowings		11,693			12,203
Deferred tax liabilities		16,187			15,568
Provisions		119			109
Other non-current liabilities		2,621			3,443
Total non-current liabilities		30,620			31,323
Total liabilities		185,111			198,889
Equity
Share capital		835			835
Treasury shares		(1,484	)		(1,815	)
Share premium		11,479			11,364
Share based payment reserve		1,750			1,684
Capital redemption reserve		173			173
Retained earnings		359,005			351,984
Other reserves		3,979			3,979
Other components of equity		10,442			8,859
Equity attributable to equity holders of the parent company		386,179			377,063
Non-controlling interests		3,191			3,394
Total equity		389,370			380,457
Total liabilities and equity		574,481			579,346

1	The above Statement of unaudited consolidated financial results of Dr. Reddy’s Laboratories Limited (the “parent company”), together with its subsidiaries (collectively, the “Company”), joint ventures and associates, have been prepared in accordance with recognition and measurement principles of IAS 34 as issued by the International Accounting Standards Board (IASB), and were reviewed and recommended by Audit Committee and approved by the Board of Directors at their meetings held on 23 October 2026. The Auditors have carried out a limited review on the unaudited consolidated financial results and issued an unmodified report there on.

2	In August 2026, the Company initiated recall of Semaglutide batches in Canada due to elevated levels of unspecified impurity exceeding the approved specification limit and a packaging and labelling error (unrelated to the Semaglutide API issue as detailed under Note 5 below). Accordingly, the Company recorded Rs. 710 million towards expected product returns as a reduction of "Revenue from sale of goods" in the Company's Global Generics Segment.

3	Revenues for the quarter ended 30 September 2026 includes: - Rs.529 million from the sale of the Company’s territorial rights relating to Bendamustine HCL in the United States; and - Rs.976 million towards achievement of certain milestones under various license agreements with a customer in Russia pertaining to biosimilars. These transactions pertain to the Company’s Global Generics segment.

4	During the year ended 31 March 2026, consequent to resolution of a shelf stock adjustment claim arising from reduction in price of its generic product Lenalidomide in the United States, the Company has recorded an amount of Rs. 4,530 million (USD 50 million) as a reduction of “Revenue from sale of goods” in the Company's Global Generics Segment.

5	Certain batches of Semaglutide were found to be out of specification due to an issue associated with the active pharmaceutical ingredient (API) used in the product. Consequently, based on its best estimate, the Company has made a provision of Rs. 2,230 million towards inventory and Rs. 167 million towards other associated costs during the quarter ended 30 June 2026.

6	During the year ended 31 March 2026, the Company decided to discontinue certain of its R&D programs associated with Chimeric Antigen Receptor T-cell (CAR-T) therapy portfolio in light of the development status and clinical trial outcomes. Consequent to this decision, the Company has recognized a net loss of Rs. 1,350 million in the Company's Global Generic segment, comprising of: a. Impairment of non-current assets of Rs. 1,291 million (i.e., towards Property, plant and equipment, Other Intangible assets and Right of use assets) and b. Other development program related wind down cost under Selling, general and administrative expenses (“SG&A”) of Rs. 59 million. In August 2026, the company sold certain assets related to this CAR-T program and novated the related lease agreement to the acquirer resulting in impairment loss reversal of Rs. 137 million.

7	During the year ended 31 March 2026, the Company recorded below Impairment losses in the Company’s Global Generic segment a. Rs. 914 million (USD 10 million) consequent to discontinuation of the Phase III study in first line non-small cell lung cancer conducted by Immutep Limited following the results of the futility analysis. b. Rs. 47 million, consequent to certain technical challenges in product development, the Company decided to discontinue development of conjugated estrogen at its site in Middleburgh, New York comprising the below financial impacts: - Impairment loss of the entire carrying value of Rs. 535 million for property, plant and equipment; - Inventory related provisions of Rs. 260 million; - Other development program related wind down costs of Rs. 129 million; - Gain recognized under Other Income, net from the write back of liabilities no longer required of Rs. 877 million.

8	“Other income, net” includes: a. Rs. 1,400 million recognised pursuant to settlement of product related litigations representing payment for avoided litigation costs by the Company and its affiliates in the United States and the United Kingdom during the year ended 31 March 2026. b. Gain on sale of non-current assets, net amounting to Rs. 1,890 million towards divestment of certain product related intangibles i.e., trademarks during the quarter ended 31 March 2026.

9	During the year ended 31 March 2026, based on a final order received from the Federal Tax Service authority in respect of one of its foreign subsidiaries, based on its estimate the Company had recorded a VAT provision of Rs. 1,836 million under “Selling, general and administrative expenses” including applicable interest and penalties and covering the periods both under audit as well as subsequent period up to 31 March 2026. The Company believes that the likelihood of any further liability that may arise on account of this field tax audit is not probable. This transaction pertains to Company's Global Generics segment.

10	The Company considered the on-going uncertainties relating to geo-political conflicts (including Russia, Ukraine and the Middle East) in assessing the recoverability of receivables, intangible assets, investments and other assets. For this purpose, the Company considered internal and external sources of information up to the date of approval of these financial results. Based on its judgments, estimates and assumptions, the Company expects to fully recover the carrying amount of receivables, goodwill, intangible assets, investments and other assets. The Company will continue to closely monitor any material changes to future economic conditions.

Particulars	Q2FY27					Q2FY26						Q1FY27
	($)		(₹)			($)			(₹)			($)			(₹)
Profit before Income Tax		128		12,277			191			18,350			58			5,526
Interest (Income) / Expense, net*		2		159			(6	)		(552	)		(9	)		(825	)
Depreciation		36		3,489			32			3,091			35			3,380
Amortization		19		1,780			20			1,960			21			1,992
Impairment		1		123			7			662			0.2			15
EBITDA		186		17,828			245			23,511			105			10,088
% of Revenues				20.6	%					26.7	%					12.5	%

Particulars	H1FY27						H1FY26
	($)			(₹)			($)			(₹)
Profit before Income Tax		186			17,803			390			37,397
Interest (Income) / Expense, net*		(7	)		(667	)		(16	)		(1,580	)
Depreciation		72			6,869			62			5,985
Amortization		39			3,772			40			3,831
Impairment		1			138			7			662
EBITDA		291			27,915			483			46,295
% of Revenues					16.7	%					26.7	%

	By order of the Board
	For Dr. Reddy’s Laboratories Limited

Place: Hyderabad	G V Prasad
Date: 23 October 2026	Co-Chairman & Managing Director
	DIN: 00057433

Sno	Particulars	Remarks
1	Aurigene Discovery Technologies (Malaysia) Sdn. Bhd.	Subsidiary
2	Aurigene Oncology Limited	Subsidiary
3	Aurigene Pharmaceutical Services Limited	Subsidiary
4	beta Institute gemeinnützige GmbH	Subsidiary
5	betapharm Arzneimittel GmbH	Subsidiary
6	Cheminor Employees Welfare Trust	Other consolidating entities
7	Cheminor Investments Limited	Subsidiary
8	Clean Renewable Energy KK 2A Private Limited	Associate
9	Dr. Reddy’s (Beijing) Pharmaceutical Co. Limited	Subsidiary
10	Dr. Reddy’s and Nestlé Health Science Limited	Subsidiary
11	Dr. Reddy’s Bio-Sciences Limited	Subsidiary
12	Dr. Reddy’s Employees ESOS Trust	Other consolidating entities
13	Dr. Reddy’s Farmaceutica Do Brasil Ltda.	Subsidiary
14	Dr. Reddy’s Finland Oy	Subsidiary
15	Dr. Reddy’s Formulations Limited	Subsidiary
16	Dr. Reddy’s Laboratories (Australia) Pty. Limited	Subsidiary
17	Dr. Reddy’s Laboratories (EU) Limited	Subsidiary
18	Dr. Reddy’s Laboratories (Proprietary) Limited	Subsidiary
19	Dr. Reddy’s Laboratories (Thailand) Limited	Subsidiary
20	Dr. Reddy’s Laboratories (UK) Limited	Subsidiary
21	Dr. Reddy’s Laboratories Canada, Inc.	Subsidiary
22	Dr. Reddy’s Laboratories Chile SPA	Subsidiary
23	Dr. Reddy’s Laboratories Inc.	Subsidiary
24	Dr. Reddy’s Laboratories Jamaica Limited	Subsidiary
25	Dr. Reddy’s Laboratories Japan KK	Subsidiary
26	Dr. Reddy’s Laboratories Kazakhstan LLP	Subsidiary
27	Dr. Reddy’s Laboratories LLC, Russia	Subsidiary
28	Dr. Reddy’s Laboratories LLC, Ukraine	Subsidiary
29	Dr. Reddy’s Laboratories Malaysia Sdn. Bhd.	Subsidiary
30	Dr. Reddy’s Laboratories New York, LLC	Subsidiary
31	Dr. Reddy’s Laboratories Philippines Inc.	Subsidiary
32	Dr. Reddy’s Laboratories Romania Srl	Subsidiary
33	Dr. Reddy’s Laboratories SA	Subsidiary
34	Dr. Reddy’s Laboratories SAS	Subsidiary
35	Dr. Reddy’s Laboratories Taiwan Limited	Subsidiary

		By order of the Board
		For Dr. Reddy’s Laboratories Limited

Place:	Hyderabad	G V Prasad
Date:	23 October 2026	Co-Chairman & Managing Director
		DIN: 00057433