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DR. REDDY S LABORATORIES LTD. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India. INVESTOR RELATIONS MEDIA RELATIONS SAUNAK SAVLA saunaks@drreddys.com (Ph: +91-40-4900 2135) CALVIN PRINTER c

Friday, May 12, 2017 4 min read
Key Takeaway: CONTACT DR. REDDY S LABORATORIES LTD. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India. INVESTOR RELATIONS MEDIA RELATIONS SAUNAK SAVLA saunaks@drreddys.com (Ph: +91-40-4900 2135) CALVIN PRINTER calvinprinter@drreddys.com (Ph: +91-40-4900 2121) Dr.

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CONTACT
DR. REDDY S LABORATORIES LTD. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India. INVESTOR RELATIONS MEDIA RELATIONS
SAUNAK SAVLA saunaks@drreddys.com (Ph: +91-40-4900 2135) CALVIN PRINTER calvinprinter@drreddys.com (Ph: +91-40-4900 2121)
Dr. Reddy s Q4 and FY17 Financial Results
Hyderabad, India, May 12, 2017: Dr. Reddy s Laboratories Ltd. (BSE: 500124 | NSE:
DRREDDY | NYSE: RDY) today announced its consolidated financial results for the fourth quarter and full year ended March 31, 2017 under International Financial Reporting Standards (IFRS).
FY17: Key Highlights
Q4 FY17: Key Highlights
Commenting on the results, Co-chairman and CEO, G V Prasad said FY17 has been a challenging year due to lack of new product
approvals for the US market However, our other geographies delivered good performances, with several new product launches. We are also seeing expanded global access to our Biosimilars, as a result of successful registrations in Emerging Markets. We
will continue our focus on rationalisation of cost structures and building a sustainable quality culture across the organisation .
Dr. Reddy s Laboratories Limited and Subsidiaries
Consolidated Income Statement for Q4 FY 17
Q4 FY17 Q4 FY16
Particulars ($) (Rs.) % ($) (Rs.) % Growth %
Revenues 548 35,542 100.0 579 37,562 100.0 (5 )
Cost of revenues 268 17,360 48.8 251 16,286 43.4 7
Gross profit 280 18,182 51.2 328 21,276 56.6 (15 )
Operating Expenses
Selling, general & administrative expenses 169 10,973 30.9 179 11,632 31.0 (6 )
Research and development expenses 71 4,579 12.9 75 4,879 13.0 (6 )
Other operating (income) / expense (8 ) (505 ) (1.4 ) (5 ) (307 ) (0.8 ) 64
Results from operating activities 48 3,135 8.8 78 5,072 13.5 (38 )
Net finance expense 1 48 0.1 41 2,646 7.0 (98 )
Share of (profit) / loss of equity accounted investees (2 ) (102 ) (0.3 ) (1 ) (59 ) (0.2 ) 72
Profit before income tax 49 3,189 9.0 38 2,485 6.6 28
Income tax expense 1 64 0.2 27 1,739 4.6 (96 )
Profit for the period 48 3,125 8.8 11 746 2.0 319
Diluted EPS 0.29 18.83 0.07 4.36 332
Particulars Q4 FY 17 Q4 FY 16
$ Rs. $ Rs.
Profit before income tax 49 3,189 38 2,485
Interest income, net* (1 ) (90 ) (11 ) (713 )
Depreciation # 36 2,338 32 2,062
Amortization 13 866 15 970
EBITDA 97 6,303 74 4,804
EBITDA% to Revenues 17.7 % 12.8 %
Key Balance Sheet Items
Particulars As on 31 st Mar 17 As on 31 st Dec 16
($) (Rs.) ($) (Rs.)
Cash and cash equivalents and Other current Investments 280 18,136 311 20,145
Trade Receivables 587 38,065 634 41,119
Inventories 440 28,529 463 30,052
Property, plant and equipment 881 57,160 882 57,209
Goodwill and Other Intangible assets 751 48,677 771 49,977
Loans and borrowings (current & non-current) 758 49,185 894 57,999
Trade & other payables 207 13,417 205 13,308
Equity 1,913 1,24,044 1,866 121,040
Dr. Reddy s Laboratories Limited and Subsidiaries
Consolidated Income Statement for FY 17
FY17 FY16
Particulars ($) (Rs.) % ($) (Rs.) % Growth %
Revenues 2,171 1,40,809 100.0 2,386 1,54,708 100.0 (9 )
Cost of revenues 963 62,453 44.4 963 62,427 40.4 0
Gross profit 1,208 78,356 55.6 1,423 92,281 59.6 (15 )
Operating Expenses
Selling, general & administrative expenses 715 46,372 32.9 705 45,702 29.5 1
Research and development expenses 301 19,551 13.9 275 17,834 11.5 10
Other operating (income) / expense (16 ) (1,065 ) (0.8 ) (13 ) (874 ) (0.6 ) 22
Results from operating activities 208 13,498 9.6 457 29,619 19.1 (54 )
Net finance (income) / expense (12 ) (806 ) (0.6 ) 42 2,708 1.8 (130 )
Share of (profit) / loss of equity accounted investees (5 ) (349 ) (0.2 ) (4 ) (229 ) (0.1 ) 52
Profit / (loss) before income tax 226 14,653 10.4 418 27,140 17.5 (46 )
Income tax (benefit) / expense 40 2,614 1.9 110 7,127 4.6 (63 )
Profit / (loss) for the period 186 12,039 8.5 309 20,013 12.9 (40 )
Diluted EPS 1.11 72.09 1.80 116.98 (38 )
Particulars FY 17 FY 16
$ Rs. $ Rs.
Profit before income tax 226 14,653 418 27,140
Interest income, net* (14 ) (880 ) (22 ) (1,425 )
Depreciation # 122 7,931 106 6,874
Amortization # 59 3,791 56 3,663
EBITDA 393 25,495 559 36,252
EBITDA% to Revenues 18.1 % 23.4 %
Key Balance Sheet Items
Particulars As on 31 st Mar 17 As on 31 st Mar 16
($) (Rs.) ($) (Rs.)
Cash and cash equivalents and Other current Investments 280 18,136 616 39,955
Trade Receivables 587 38,065 637 41,306
Inventories 440 28,529 394 25,578
Property, plant and equipment 881 57,160 832 53,961
Goodwill and Other Intangible assets 751 48,677 380 24,644
Loans and borrowings (current & non-current) 758 49,185 517 33,513
Trade & other payables 207 13,417 190 12,300
Equity 1,913 1,24,044 1,979 1,28,336
Revenue Mix by Segment [FY 17 vs FY 16]
Particulars FY 17 FY 16 Growth %
($) (Rs.) % ($) (Rs.) %
Global Generics 1,780 1,15,409 82 1,975 1,28,062 83 (10 )
North America 63,601 75,445 (16 )
Europe* 7,606 7,732 (2 )
India 23,131 21,293 9
Emerging Markets # 21,071 23,592 (11 )
PSAI 328 21,277 15 345 22,379 14 (5 )
North America 3,569 3,052 17
Europe 8,410 9,313 (10 )
India 1,750 2,618 (33 )
Rest of World 7,548 7,396 2
Proprietary Products & Others 64 4,123 3 66 4,267 3 (3 )
Total 2,171 1,40,809 100 2,386 1,54,708 100 (9 )
Revenue Mix by Segment [Q4 FY 17 vs Q3 FY 17]
Particulars Q4 FY 17 Q3 FY 17 Growth %
($) (Rs.) % ($) (Rs.) %
Global Generics 449 29,138 82 472 30,638 83 (5 )
North America 15,349 16,595 (8 )
Europe* 2,066 2,148 (4 )
India 5,711 5,947 (4 )
Emerging Markets # 6,012 5,948 1
PSAI 83 5,401 15 83 5,400 14
North America 532 1,259 (58 )
Europe 2,539 1,828 39
India 395 409 (3 )
Rest of World 1,935 1,904 2
Proprietary Products & Others 15 1,003 3 16 1,027 3 (2 )
Total 548 35,542 100 572 37,065 100 (4 )
Revenue Mix by Segment [Q4 FY 17 vs Q4 FY 16]
Particulars Q4 FY17 Q4 FY16 Growth %
($) (Rs.) % ($) (Rs.) %
Global Generics 449 29,138 82 475 30,774 82 (5 )
North America 15,349 18,950 (19 )
Europe* 2,066 1,759 17
India 5,711 5,267 8
Emerging Markets # 6,012 4,798 25
PSAI 83 5,401 15 89 5,766 15 (6 )
North America 532 742 (28 )
Europe 2,539 2,586 (2 )
India 395 603 (35 )
Rest of World 1,935 1,835 5
Proprietary Products & Others 15 1,003 3 16 1,022 3 (2 )
Total 548 35,542 100 579 37,562 100 (5 )
Global Generics (GG)
Revenues from GG segment for FY 17 at Rs.115.4 billion, year-on-year decline of 10%; primarily on account of lower
contribution from North America and Emerging Markets. Revenues for fourth quarter declined by 5% on a year-on-year basis.
During the year, we filed 26 ANDAs with USFDA. Of these 13 ANDAs filed in the fourth quarter.
As of 31st March, 2017, cumulatively 101 generic filings are pending
for approval with the USFDA (99 ANDAs and 2 NDAs under 505(b)(2) route). Of these 99 ANDAs, 62 are Para IVs out of which we believe 21 have First to File status.
Pharmaceutical Services and Active Ingredients (PSAI)
Proprietary Products (PP)
Zembrace Sym Touch (Suma 3 mg) injection and Sernivo (betamethasone dipropionate) Spray, 0.05% are gradually
gaining traction, with an improvement in the sales volumes.
Income Statement Highlights:
The Board has recommended payment of a dividend of Rs.20 per equity share of face value Rs.5/- each
(400% of face value) for the year ended March 31, 2017 subject to approval of members
Earnings Call Details (06:00 pm IST, 08:30 am EDT, May 12, 2017)
The Company will host an earnings call to discuss the performance and answer any questions from participants. This call will be
accessible through an audio dial-in and a web-cast.
Audio conference Participants can dial-in on the numbers below
Primary number: 91 22 3960 0616
International Toll Free Number USA 18667462133
UK 08081011573
Singapore 8001012045
Hong Kong 800964448
Playback of call: 91 22 3065 2322, 91 22 6181 3322
Conference ID: 375#
Web-cast More details will be provided through our website,
www.drreddys.com
Transcript of the event will be available at www.drreddys.com. Playback will be
available for a few days.
About Dr. Reddy s: Dr. Reddy s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:
RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary
Products Dr. Reddy s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastro-intestinal,
cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy s operates in markets across the globe. Our major markets include USA, India, Russia and other CIS countries. For more information, log on to:
Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the
management s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to
statements which are forward-looking by reason of context, the words may , will , should , expects , plans , intends , anticipates , believes ,
estimates , predicts , potential , or continue and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to
without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates , interest rates , persistency levels and frequency / severity of insured loss events (ii) mortality
and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or
reorganisation , including related integration issues.
The company assumes no obligation to update any information contained herein.
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Last updated: May 12, 2017