Dr Reddys Laboratories Ltd 6-K, filed May 21, 2020

Dr Reddys Laboratories Ltd (RDY)

6-K 2020-05-21 For: 2020-05-20

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Added on April 09, 2026

About this 6-K

Dr Reddys Laboratories Ltd filed this 6-K on May 21, 2020.

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Exhibit Number		Description of Exhibits

99.1		Press Release, “Dr. Reddy’s Q4 and FY20 Financial Results”, May 20, 2020

99.2		IFRS Audited Consolidated Financial Results for the quarter and year ended March 31, 2020

99.3		Ind AS Audited Consolidated Financial Results for the quarter and year ended March 31, 2020

99.4		Ind AS Audited Standalone Financial Results for the quarter and year ended March 31, 2020

	DR. REDDY’S LABORATORIES LIMITED (Registrant)
Date: May 20, 2020	By:	/s/ Sandeep Poddar
		Name:	Sandeep Poddar
		Title:	Company Secretary

	Q4 FY20						Q4 FY19						YoY			Q3 FY20						QoQ
Particulars	($)			(Rs.)			($)			(Rs.)			Gr %			($)			(Rs.)			Gr%
Revenues		588			44,318			533			40,166			10			581			43,838			1
Cost of Revenues		285			21,510			254			19,113			13			267			20,116			7
Gross Profit		303			22,808			279			21,053			8			315			23,722			(4	)
Operating Expenses
Selling, General & Administrative expenses		162			12,177			163			12,294			(1	)		168			12,670			(4	)
Research and Development expenses		56			4,190			49			3,662			14			52			3,949			6
Impairment of non-current assets		0			7			1			82			(91	)		175			13,200			(100	)
Other operating income		(2	)		(168	)		(4	)		(330	)		(49	)		(3	)		(228	)		(26	)
Results from operating activities		88			6,602			71			5,345			24			(78	)		(5,869	)		(212	)
Net finance income		(6	)		(435	)		(5	)		(349	)		25			(6	)		(419	)		4
Share of profit of equity accounted investees		(1	)		(105	)		(2	)		(157	)		(33	)		(2	)		(176	)		(40	)
Profit before income tax		95			7,142			78			5,851			22			(70	)		(5,274	)		(235	)
Income tax		(7	)		(500	)		20			1,507			(133	)		6			423			(218	)
Profit for the period		101			7,642			58			4,344			76			(76	)		(5,697	)		(234	)

Diluted Earnings Per Share (EPS)		0.61			46.01			0.35			26.16			76			(0.46	)		(34.37	)		(234	)

As % to Revenues	Q4 FY20		Q4 FY19		Q3 FY20
Gross Profit		51.5		52.4		54.1
SG&A		27.5		30.6		28.9
R&D		9.5		9.1		9.0
EBITDA		22.6		22.0		24.5
PBT		16.1		14.6		(12.0	)
PAT		17.2		10.8		(13.0	)

	Q4 FY20						Q4 FY19						Q3 FY20
Particulars	($)			(Rs.)			($)			(Rs.)			($)			(Rs.)
Profit before Income Tax		95			7,142			78			5,851			(70	)		(5,274	)
Interest (income) net*		(1	)		(100	)		(3	)		(215	)		(4	)		(274	)
Depreciation		28			2,080			28			2,136			28			2,130
Amortization		12			885			13			965			13			955
Impairment		0			7			1			82			175			13,200
EBITDA		133			10,013			117			8,819			142			10,737

	FY 20									FY 19									Growth
Particulars	($)			(Rs.)			%			($)			(Rs.)			%			%
Revenues		2,316			1,74,600			100.0			2,041			1,53,851			100.0			13
Cost of Revenues		1,069			80,591			46.2			934			70,421			45.8			14
Gross Profit		1,247			94,009			53.8			1,107			83,430			54.2			13
Operating Expenses
Selling, General & Administrative expenses		665			50,129			28.7			646			48,680			31.6			3
Research and Development expenses		204			15,410			8.8			207			15,607			10.1			(1	)
Impairment of non-current assets		222			16,767			9.6			3			210			0.1			7884
Other operating income		(57	)		(4,290	)		(2.5	)		(26	)		(1,955	)		(1.3	)		119
Results from operating activities		212			15,993			9.2			277			20,888			13.6			(23	)
Net finance income		(20	)		(1,478	)		(0.8	)		(15	)		(1,117	)		(0.7	)		32
Share of profit of equity accounted investees		(7	)		(561	)		(0.3	)		(6	)		(438	)		(0.3	)		28
Profit before income tax		239			18,032			10.3			298			22,443			14.6			(20	)
Income tax		(19	)		(1,466	)		(0.8	)		48			3,648			2.4			(140	)
Profit for the period		259			19,498			11.2			249			18,795			12.2			4

Diluted Earnings Per Share (EPS)		1.56			117.40						1.50			113.09						4

	As on 31^st Mar, 2020				As on 31st Dec 2019				As on 31^st Mar 2019
Particulars	($)		(Rs.)		($)		(Rs.)		($)		(Rs.)
Cash and cash equivalents and other investments		346		26,068		271		20,457		339		25,570
Trade receivables (current & non-current)		690		52,015		611		46,095		530		39,982
Inventories		465		35,066		501		37,746		445		33,579
Property, plant and equipment		694		52,332		699		52,709		717		54,088
Goodwill and Other Intangible assets		420		31,653		409		30,847		640		48,269
Loans and borrowings (current & non-current)		293		22,102		216		16,320		509		38,381
Trade payables		221		16,659		236		17,810		193		14,553
Equity		2,056		1,54,988		1,972		1,48,672		1,860		1,40,197

Universal Access Number:	+91 22 6280 1219
Secondary number:	+91 22 7115 8120

Local Access number:	+91 70456 71221

International Toll Free Number	USA	1 866 746 2133
	UK	0 808 101 1573
	Singapore	800 101 2045
	Hong Kong	800 964 448

Playback of call:	+91 22 7194 5757, +91 22 6663 5757
Conference ID:	74886

											All amounts in Indian Rupees millions
		Quarter ended									Year ended
Sl. No.	Particulars	31.03.2020			31.12.2019			31.03.2019			31.03.2020			31.03.2019
		(Audited)			(Unaudited)			(Audited)			(Audited)			(Audited)
1	Revenues		44,318			43,838			40,166			174,600			153,851
2	Cost of revenues		21,510			20,116			19,113			80,591			70,421
3	Gross profit (1 - 2)		22,808			23,722			21,053			94,009			83,430
4	Selling, general and administrative expenses		12,177			12,670			12,294			50,129			48,680
5	Research and development expenses		4,190			3,949			3,662			15,410			15,607
6	Impairment of non current assets		7			13,200			82			16,767			210
7	Other income, net		(168	)		(228	)		(330	)		(4,290	)		(1,955	)
	Total operating expenses		16,206			29,591			15,708			78,016			62,542
8	Results from operating activities [(3) - (4 + 5 + 6 + 7)]		6,602			(5,869	)		5,345			15,993			20,888
	Finance income		665			571			594			2,461			2,280
	Finance expense		(230	)		(152	)		(245	)		(983	)		(1,163	)
9	Finance (expense)/income, net		435			419			349			1,478			1,117
10	Share of profit of equity accounted investees, net of tax		105			176			157			561			438
11	Profit / (loss) before tax (8 + 9 + 10)		7,142			(5,274	)		5,851			18,032			22,443
12	Tax expense/(benefit), net		(500	)		423			1,507			(1,466	)		3,648
13	Profit / (loss) for the period / year (11 -12)		7,642			(5,697	)		4,344			19,498			18,795
14	Earnings per share:
	Basic earnings per share of Rs.5/- each		46.10			(34.37	)		26.20			117.63			113.28
	Diluted earnings per share of Rs.5/- each		46.01			(34.37	)		26.16			117.40			113.09
			(Not annualised)			(Not annualised)			(Not annualised)

	All amounts in Indian Rupees millions
	As at			As at
Particulars	31.03.2020			31.03.2019
	(Audited)			(Audited)
ASSETS
Current assets
Cash and cash equivalents		2,053			2,228
Other investments		23,687			22,529
Trade and other receivables		50,278			39,869
Inventories		35,066			33,579
Derivative financial instruments		1,105			360
Current tax assets		4,379			3,400
Other current assets		13,802			12,536
Total current assets		130,370			114,501
Non-current assets
Property, plant and equipment		52,332			54,088
Goodwill		3,994			3,902
Other intangible assets		27,659			44,367
Trade and other receivables		1,737			113
Investment in equity accounted investees		2,763			2,529
Other investments		328			813
Deferred tax assets		12,214			4,168
Other non-current assets		844			946
Total non-current assets		101,871			110,926
Total assets		232,241			225,427

LIABILITIES AND EQUITY
Current liabilities
Trade and other payables		16,659			14,553
Short-term borrowings		16,441			12,125
Long-term borrowings, current portion		4,266			4,256
Provisions		3,800			4,166
Current tax liabilities		573			181
Derivative financial instruments		1,602			68
Bank overdraft		91			-
Other current liabilities		29,382			24,351
Total current liabilities		72,814			59,700
Non-current liabilities
Long-term borrowings, excluding current portion		1,304			22,000
Deferred tax liabilities		275			610
Provisions		54			52
Other non-current liabilities		2,806			2,868
Total non-current liabilities		4,439			25,530
Total liabilities		77,253			85,230
Equity
Share capital		831			830
Treasury shares		(1,006	)		(535	)
Share premium		8,495			8,211
Share based payment reserve		1,233			990
Capital redemption reserve		173			173
Retained earnings		144,247			128,646
Other components of equity		1,015			1,882
Total equity		154,988			140,197
Total liabilities and equity		232,241			225,427

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

Place: Hyderabad	G V Prasad
Date: 20 May 2020	Co-Chairman & Managing Director

											All amounts in Indian Rupees millions
Sl.		Quarter ended									Year ended
No.	Particulars	31.03.2020			31.12.2019			31.03.2019			31.03.2020			31.03.2019
		(Audited)			(Unaudited)			(Audited)			(Audited)			(Audited)

1	Revenue from operations
	a) Net sales / income from operations		43,361			42,607			37,472			163,574			148,706
	b) License fees and service income		957			1,231			2,694			11,026			5,145
	c) Other operating income		171			133			130			570			631

	Total revenue from operations		44,489			43,971			40,296			175,170			154,482

2	Other income		736			673			833			6,206			3,375

3	Total income (1 + 2)		45,225			44,644			41,129			181,376			157,857

4	Expenses
	a) Cost of materials consumed		7,453			7,528			7,360			29,848			28,894
	b) Purchase of stock-in-trade		5,875			8,426			4,393			25,459			18,808
	c) Changes in inventories of finished goods, work-in-progress and stock-in-trade		1,983			(1,801	)		871			237			(2,754	)
	d) Employee benefits expense		8,555			8,377			8,415			33,802			33,562
	e) Depreciation and amortisation expense		2,741			2,869			2,872			11,631			11,348
	f) Impairment of non-current assets		7			13,200			82			16,767			116
	g) Finance costs		230			152			245			983			889
	h) Selling and other expenses		11,124			11,128			10,986			44,353			44,074
	Total expenses		37,968			49,879			35,224			163,080			134,937

5	Profit / (loss) before tax and before share of equity accounted investees(3 - 4)		7,257			(5,235	)		5,905			18,296			22,920

6	Share of profit of equity accounted investees, net of tax		105			176			157			561			438

7	Profit / (loss) before tax (5+6)		7,362			(5,059	)		6,062			18,857			23,358

8	Tax expense / (benefit):
	a) Current tax		417			1,736			1,413			6,616			4,707
	b) Deferred tax		(866	)		(1,411	)		95			(8,019	)		(849	)


9	Net profit / (loss) after taxes and share of profit of associates (7 - 8)		7,811			(5,384	)		4,554			20,260			19,500

10	Other comprehensive income
	a) (i) Items that will not be reclassified subsequently to profit or loss		(326	)		(200	)		507			(412	)		(379	)
	(ii) Income tax relating to items that will not be reclassified to profit or loss		(22	)		-			(900	)		(22	)		(673	)
	b) (i) Items that will be reclassified subsequently to profit or loss		(1,011	)		606			226			(448	)		19
	(ii) Income tax relating to items that will be reclassified to profit or loss		96			48			(55	)		232			(54	)
	Total other comprehensive income		(1,263	)		454			(222	)		(650	)		(1,087	)

11	Total comprehensive income (9 + 10)		6,548			(4,930	)		4,332			19,610			18,413

12	Paid-up equity share capital (face value Rs. 5/- each)		831			831			830			831			830

13	Other equity											155,157			139,406

14	Earnings per equity share (face value Rs. 5/- each)

	Basic		47.12			(32.48	)		27.45			122.22			117.53
	Diluted		47.03			(32.48	)		27.41			121.99			117.33
			(Not annualised)			(Not annualised)			(Not annualised)
	See accompanying notes to the financial results

Segment Information										All amounts in Indian Rupees millions
		Quarter ended								Year ended
Sl. No.	Particulars	31.03.2020			31.12.2019			31.03.2019		31.03.2020		31.03.2019
		(Audited)			(Unaudited)			(Audited)		(Audited)		(Audited)
	Segment wise revenue and results:
1	Segment revenue :
	a) Pharmaceutical Services and Active Ingredients		8,782			8,654			8,241		32,086		30,403
	b) Global Generics		36,460			35,956			30,415		138,264		123,056
	c) Proprietary Products		2			241			2,513		7,949		4,750
	d) Others		723			763			503		2,781		2,058
	Total		45,967			45,614			41,672		181,080		160,267

	Less: Inter-segment revenue		1,478			1,643			1,376		5,910		5,785
	Total revenue from operations		44,489			43,971			40,296		175,170		154,482

2	Segment results:
	Gross profit from each segment
	a) Pharmaceutical Services and Active Ingredients		2,050			2,079			1,428		6,219		6,158
	b) Global Generics		20,332			20,910			17,008		78,449		71,924
	c) Proprietary Products		(7	)		246			2,307		7,744		4,182
	d) Others		442			492			318		1,626		1,196
	Total		22,817			23,727			21,061		94,038		83,460

	Less: Selling and other un-allocable expenditure / (income), net		15,455			28,786			14,999		75,181		60,102
	Total profit / (loss) before tax		7,362			(5,059	)		6,062		18,857		23,358

	Q4 FY20		Q4 FY19		YoY			Q3 FY20		QoQ
Particulars	(Rs.)		(Rs.)		Growth %			(Rs.)		Growth %
Global Generics		36,398		30,384		20			35,927		1
North America		18,072		14,957		21			15,999		13
Europe		3,446		1,912		80			3,093		11
India		6,839		6,505		5			7,636		(10	)
Emerging Markets		8,042		7,010		15			9,199		(13	)
Pharmaceutical Services and Active Ingredients (PSAI)		7,195		6,765		6			6,906		4
Proprietary Products & Others		725		3,017		(76	)		1,005		(28	)
Total		44,318		40,166		10			43,838		1

	FY 20						FY 19						Growth
Particulars	($)		(Rs.)		%		($)		(Rs.)		%		%
Global Generics		1,832		1,38,123		79.1		1,630		1,22,903		79.9		12
North America				64,659						59,957				8
Europe				11,707						7,873				49
India				28,946						26,179				11
Emerging Markets				32,811						28,894				14
Pharmaceutical Services and Active Ingredients (PSAI)		342		25,747		14.7		320		24,140		15.7		7
Proprietary Products & Others		142		10,730		6.1		90		6,808		4.4		58
Total		2,316		1,74,600		100.0		2,041		1,53,851		100.0		13

		*Rounded off to millions.
		**Adjusted for bank-overdraft of Rs. 91 million for the year ended 31 March 2020.

	14	The audited results were reviewed by the Audit Committee of the Board on 19 May 2020 and approved by the Board of Directors of the Company at their meeting held on 20 May 2020.

Segment information										All amounts in Indian Rupees millions
Sl.		Quarter ended								Year ended
No.	Particulars	31.03.2020			31.12.2019		31.03.2019			31.03.2020		31.03.2019
		(Audited)			(Unaudited)		(Audited)			(Audited)		(Audited)
	Segment wise revenue and results
1	Segment revenue
	a) Pharmaceutical Services and Active Ingredients		7,373			7,106		6,941			26,996		25,802
	b) Global Generics		22,606			24,680		20,739			89,774		85,936
	c) Proprietary Products		16			296		149			7,644		303
	Total		29,995			32,082		27,829			124,414		112,041

	Less: Inter-segment revenue		1,478			1,642		1,377			5,910		5,786
	Total revenue from operations		28,517			30,440		26,452			118,504		106,255

2	Segment results
	Profit / (loss) before tax and interest from each segment
	a) Pharmaceutical Services and Active Ingredients		438			957		32			1,465		2,156
	b) Global Generics		4,203			6,193		4,022			22,116		20,852
	c) Proprietary Products		(97	)		92		(619	)		6,525		(2,252	)
	Total		4,544			7,242		3,435			30,106		20,756

	Less: (i) Finance costs		118			117		87			478		568
	(ii) Other un-allocable expenditure / (income), net		(15	)		950		384			1,870		3,181
	Total profit before tax		4,441			6,175		2,964			27,758		17,007