Dr. Reddy's Laboratories Ltd. share price target

Higher gRevlimid sales, in our view, formed the premise for Dr. Reddy’s Laboratories’ (DRL) Q1FY25 beat. US sales soared 20.3% YoY to USD 462mn riding on market share gains in existing products.

DRRD reported largely in-line revenue/EBITDA, but higher tax aided in PAT beat

We have HOLD on the stock.

Dr. Reddy’s Lab (DRRD) delivered 4QFY24 revenue in line with our estimate.
However, EBITDA was lower than expected due to higher SGA expenses and
R&D spending. In addition to US generics/branded generics segments, DRRD is
enhancing its offering through JVs/partnerships/acquisitions in nutraceuticals,
vaccine, women’s health and dietary supplement space.

MSIL: Healthy all-round performance raise to BUY. DRRD: Buoyant US sales drive performance. VOLT: UCP improving, Qatar business a dampener. DIXON: Mobile business dials up growth; maintain BUY. KJC: Soft demand, intense competition mar quarter. BLSTR: Purple patch continues; maintain BUY. KECI: Pipeline robust, margin improvement delayed. ABSLAMC: Double-digit growth but market share bleed continues. Metals & Mining: Jindal Stainless: Management meet takeaways