DRREDDY / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Dr. Reddy's Laboratories · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ2-FY26 · 2025-10-28Back to quarter ↗

Questions audited

12

Answered directly

83%

Numeric claims

2

Consistency

contradicted

Question ledger

What was answered, and how?

Neha Manpuria · Bank of America

direct

Will there be any Revlimid in Q3?

So we should assume that we will have, but less than what was in this quarter. It is likely that it's either going to be the last quarter or maybe some tail that will go into Q4. By and large, Q3 will still have Revlimid in it.

Neha Manpuria · Bank of America

partial

Confidence in SEMA and abatacept approvals?

On Abatacept, we are supposed to submit the BLA, and I'm very confident about it, at the end of December of this year... On the SEMA, we are expecting the feedback from Health Canada in the next few weeks... I'm confident that we will sell the product.

Damyanti Kerai · HSBC

direct

Legal status of Semaglutide litigation in India?

We are challenging the patents in India, and it's currently in a high court in Delhi. All the hearings were done, and we are waiting for the decision of the judge.

Damyanti Kerai · HSBC

direct

Risk mitigation for abatacept manufacturing?

Correct. We will have a CMO in the U.S. to produce abatacept in addition to our capacity that is built in Bachupally, India. It is mitigating three risks...

Bino Pathiparampil · Elara Capital

direct

What drove strong India growth and GST impact?

We managed well the GST. The GST was not a significant obstacle for us. It's just execution of our strategy... we identify the therapeutic areas that we want to focus on, and we made several inorganic moves to buy brands.

Bino Pathiparampil · Elara Capital

direct

Revenue of Stugeron acquisition?

So it is a 100-plus in terms of size, something like that. INR 100 crore.

Bino Pathiparampil · Elara Capital

partial

Will EBITDA margin return to 25% despite Revlimid decline?

I absolutely believe, and I'm maintaining it, that in the next two years, we will absolutely get back to the growth and to the margins.

Saion Mukherjee · Nomura

direct

How has US base business changed since Revlimid launch?

It went down. It went down primarily, not so much on volume. There were some products, about, I think, five, that faced competition and price erosion.

Saion Mukherjee · Nomura

direct

Where will 12 million semaglutide units be sold if not Canada?

We are going to either directly or through partners, going to obtain approval in the next 12 to 15 months in 87 countries. The notable countries, besides Canada, will be India, Brazil, Turkey.

Tushar Manudhane · Motilal Oswal Financial Services

direct

PSA gross margin outlook?

We expect, I think, going forward, the PSA gross margin in the range of 20% - 25%.

Harith Ahamed · Avendus Spark

partial

Specific challenges with Rituximab facility?

There is nothing specific per se. It's all, as this is a sterile plant, we have queries that are related to that nature of the site. We believe it's addressable.

Harith Ahamed · Avendus Spark

partial

Are cost reductions reflecting in H1 numbers?

You can see that despite the fact that Revlimid is going down, we are maintaining reasonably our numbers. It's absolutely a reflection of those mitigations.