ICICI Direct has given Buy recommendation for Dr Reddys Laboratories with a target price of Rs. 5160 in its research report issued on Jan 29, 2021
ICICI Direct’s research report on Dr Reddys Laboratories
Dr Reddy’s (DRL) portfolio includes pharmaceutical generics, APIs, custom pharmaceutical services, biosimilar and complex formulations. Revenue breakup: US (37%), India (18%), Russia and CIS (12%), Europe (8%), RoW (6%) and API (17%) It has 13 formulation facilities, nine API manufacturing facilities, one biologics facility and several R&D centres across the globe
We value Dr Reddy’s at Rs 5160 i.e. 21x FY24E EPS of Rs 238.4 + NPV of Rs 154.1 for gRevlimid.