Dr. Reddy's Laboratories Limited (RDY) Key Metrics

NYSE: RDYValuation, returns, debt and efficiency ratios over 10 years.

RDY key metrics, FY2017–FY2026

Fiscal year ended March 31, 2026 · Indian rupees

RDY returns How much profit the business earns on the capital it uses.

Return on equity−5.6 pts
12.8%
FY2026 · hover or tap a bar for each year
FY2017: 9.5% (−6.1 pts)FY2018: 7.8% (−1.7 pts)FY2019: 14.1% (+6.3 pts)FY2020: 27.4% (+13.3 pts)FY2021: 10.5% (−16.9 pts)FY2022: 24.4% (+13.9 pts)FY2023: 21.4% (−3.1 pts)FY2024: 21.8% (+0.4 pts)FY2025: 18.4% (−3.4 pts)FY2026: 12.8% (−5.6 pts)
FY2017FY2026
Return on invested capital−8.7 pts
11.1%
FY2026 · hover or tap a bar for each year
FY2017: 8.0% (−9.9 pts)FY2018: 5.2% (−2.8 pts)FY2019: 11.3% (+6.0 pts)FY2020: 20.5% (+9.2 pts)FY2021: 13.1% (−7.5 pts)FY2022: 23.6% (+10.5 pts)FY2023: 23.5% (−0.1 pts)FY2024: 26.1% (+2.6 pts)FY2025: 19.8% (−6.3 pts)FY2026: 11.1% (−8.7 pts)
FY2017FY2026
Return on assets−4.3 pts
8.5%
FY2026 · hover or tap a bar for each year
FY2017: 5.6% (−4.0 pts)FY2018: 4.4% (−1.2 pts)FY2019: 8.3% (+3.9 pts)FY2020: 17.1% (+8.7 pts)FY2021: 6.9% (−10.1 pts)FY2022: 15.9% (+9.0 pts)FY2023: 14.7% (−1.2 pts)FY2024: 15.7% (+1.0 pts)FY2025: 12.8% (−2.9 pts)FY2026: 8.5% (−4.3 pts)
FY2017FY2026
Free cash flow margin+5.4 pts
9.1%
FY2026 · hover or tap a bar for each year
FY2017: −13.8% (−30.9 pts)FY2018: 4.9% (+18.7 pts)FY2019: 13.8% (+8.9 pts)FY2020: 13.6% (−0.2 pts)FY2021: 905.5% (+891.9 pts)FY2022: 4.2% (−901.3 pts)FY2023: 16.3% (+12.0 pts)FY2024: 6.4% (−9.8 pts)FY2025: 3.7% (−2.8 pts)FY2026: 9.1% (+5.4 pts)
FY2017FY2026
Cash conversion (OCF / net income)+53.0%
1.26
FY2026 · hover or tap a bar for each year
FY2017: 1.79 (−13.3%)FY2018: 1.84 (+2.9%)FY2019: 1.53 (−16.9%)FY2020: 1.53 (+0.2%)FY2021: 153.75 (+9,946.2%)FY2022: 1.19 (−99.2%)FY2023: 1.31 (+9.5%)FY2024: 0.82 (−37.5%)FY2025: 0.82 (+0.6%)FY2026: 1.26 (+53.0%)
FY2017FY2026
Asset turnover−9.9%
0.67
FY2026 · hover or tap a bar for each year
FY2017: 0.66 (−11.6%)FY2018: 0.64 (−3.2%)FY2019: 0.68 (+7.0%)FY2020: 1.53 (+124.0%)FY2021: 0.76 (−50.1%)FY2022: 1.45 (+89.6%)FY2023: 0.80 (−44.7%)FY2024: 0.79 (−1.6%)FY2025: 0.74 (−6.1%)FY2026: 0.67 (−9.9%)
FY2017FY2026

RDY returns on capital

ROEROICROA

Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.

RDY debt vs cash

Total debtCash & short-term investments

Debt includes short- and long-term borrowings and, where reported, lease liabilities.

RDY cash returned to shareholders

DividendsBuybacksFree cash flow

RDY key metrics in Indian rupees

FY2017–FY2026
FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Returns & profitability
Return on equity (ROE)12.8%18.4%21.8%21.4%24.4%10.5%27.4%14.1%7.8%9.5%
Return on invested capital (ROIC)11.1%19.8%26.1%23.5%23.6%13.1%20.5%11.3%5.2%8.0%
Return on assets (ROA)8.5%12.8%15.7%14.7%15.9%6.9%17.1%8.3%4.4%5.6%
Return on tangible assets10.0%14.7%16.1%15.7%9.0%7.5%735.4%10.6%5.5%7.0%
Free cash flow margin9.1%3.7%6.4%16.3%4.2%905.5%13.6%13.8%4.9%−13.8%
Income quality (OCF / net income)1.260.820.821.311.19153.751.531.531.841.79
Financial health
Total debt₹75.81B₹46.77B₹20.02B₹13.47B₹33.84B₹414.5M₹292.2M₹38.38B₹50.71B₹49.19B
Cash & short-term investments₹86.08B₹57.91B₹81.47B₹61.80B₹44.37B₹472.9M₹340.2M₹24.76B₹20.97B₹18.14B
Net debt−₹10.27B−₹11.14B−₹61.45B−₹48.33B−₹10.52B−₹58.3M−₹48.1M₹13.62B₹29.75B₹31.05B
Debt / equity0.210.140.070.060.180.180.140.270.400.40
Debt / assets0.130.090.050.040.120.110.100.170.220.22
Net debt / EBITDA−0.12−0.12−0.69−0.65−0.23−0.00−0.000.381.261.25
Current ratio1.801.922.582.381.931.781.791.921.571.18
Quick ratio1.351.371.921.811.391.231.311.361.160.85
Interest coverage12.425.439.640.030.80.4—23.515.121.3
Working capital₹131.75B₹119.72B₹152.01B₹118.41B₹87.84B₹887.1M₹760.8M₹54.80B₹39.95B₹15.38B
Invested capital₹359.33B₹322.25B₹219.10B₹182.67B₹180.01B₹2.31B₹2.00B₹153.82B₹156.21B₹155.09B
Tangible asset value₹257.31B₹228.55B₹239.35B₹195.90B₹158.86B₹1.82B₹1.63B₹91.93B₹77.85B₹75.37B
Net current asset value₹101.05B₹94.29B₹141.08B₹113.39B₹79.56B₹763.5M₹702.1M₹29.27B₹10.50B₹4.60B
Capital allocation
Dividends paid₹7.01B₹6.66B₹6.65B₹4.98B₹4.15B₹4.15B₹3.92B₹4.00B₹3.99B₹3.39B
Share buybacks (net)₹0₹1.39B₹0₹0₹0₹1.19B₹474.0M₹535.0M₹0₹15.69B
Dividend payout ratio15.5%11.8%11.9%11.0%17.6%—20.1%21.3%40.7%28.2%
Dividends + buybacks / free cash flow21.8%66.9%36.9%12.4%45.8%23.1%18.5%21.4%57.1%—
Capex / revenue6.9%10.6%9.8%7.7%8.9%491.5%3.5%4.9%7.8%29.1%
Capex / operating cash flow43.3%74.1%60.4%32.0%67.8%35.2%20.5%26.1%61.3%190.5%
Capex / depreciation1.132.021.851.511.610.980.490.610.943.63
Stock-based compensation / revenue0.1%0.1%0.1%0.2%0.3%22.9%0.3%0.3%0.3%0.3%
R&D / revenue7.2%8.4%8.2%7.9%8.2%8.2%8.8%10.1%12.9%13.9%
SG&A / revenue16.9%28.8%27.7%18.9%29.0%2,134.8%28.7%0.5%0.5%0.5%
Efficiency
Days sales outstanding107.9115.0116.7121.369.0118.549.6114.9123.3122.3
Days of inventory on hand159.7181.9177.2170.593.5157.477.1162.4160.0158.1
Days payables outstanding57.756.262.257.929.345.823.650.562.875.2
Cash conversion cycle (days)209.9240.7231.7233.9133.2230.1103.0226.7220.4205.2
Receivables turnover3.383.173.133.015.293.087.363.182.962.99
Payables turnover6.326.505.876.3012.467.9715.447.225.814.86
Inventory turnover2.292.012.062.143.902.324.732.252.282.31
Asset turnover0.670.740.790.801.450.761.530.680.640.66
Average receivables₹104.50B₹102.56B₹89.27B₹81.74B₹40.56B₹830.0M₹23.72B₹48.41B₹47.97B₹47.17B
Average payables₹26.40B₹20.80B₹19.70B₹16.91B₹8.07B₹157.8M₹5.22B₹9.75B₹11.31B₹12.86B
Average inventory₹73.05B₹67.32B₹56.11B₹49.78B₹25.75B₹542.3M₹17.02B₹31.33B₹28.81B₹27.05B
Intangibles / total assets20.4%22.0%10.6%10.9%10.8%15.1%13.6%21.4%21.5%22.1%

Computed from RDY's annual financial statements (latest annual report filed May 29, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Indian rupees; data from EODHD. Averages use the opening and closing balance of each year.

RDY valuation and financial ratios

Dr. Reddy's Laboratories earned a return on equity of 12.8% and a return on invested capital of 11.1% in fiscal 2026. It ended the year with ₹75.8 billion of debt and ₹86.1 billion in cash and short-term investments, a net cash position of ₹10.3 billion. It returned ₹7.0 billion to shareholders: ₹7.0 billion in dividends and ₹0 in share buybacks, 22% of free cash flow.

See the RDY income statement, the RDY chart for price history, or the RDY stock overview for the latest quote and news.

RDY key metrics FAQ

What is Dr. Reddy's Laboratories's return on equity?

Dr. Reddy's Laboratories's return on equity (ROE) was 12.8% in fiscal 2026: net income of ₹45.1 billion on average shareholders' equity of ₹351.5 billion.

What is Dr. Reddy's Laboratories's ROIC?

Dr. Reddy's Laboratories's return on invested capital was 11.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.

How much debt does Dr. Reddy's Laboratories have?

Dr. Reddy's Laboratories had total debt of ₹75.8 billion at the end of fiscal 2026, a debt-to-equity ratio of 0.21 and more cash than debt.

What is Dr. Reddy's Laboratories's current ratio?

Dr. Reddy's Laboratories's current ratio was 1.80 at the end of fiscal 2026: current assets were 1.80 times current liabilities.

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