Dr. Reddy's reports Q2 results: BNP target for Dr. Reddy's Laboratories stock is USD 14.80

Published on 10/25/2026 at 02:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue fell 1.5 percent year over year to INR 86.71 billion. For Dr Reddy stock, semaglutide targets a November 2026 relaunch.

Product pipeline and earnings

Dr. Reddy's received Zytorvi approval on October 21, 2026, expanding its oncology offering.
Gross margin reached 52.1 percent in the second quarter of fiscal 2027.
Dr. Reddy's Laboratories had a USD 11.0 billion market capitalization on October 23, 2026.

Dr Reddy, INE089A01023, Illustration mit AI erstellt.

Dr. Reddy's Laboratories reported second-quarter results on October 23, 2026, while BNP Paribas Exane set a USD 14.80 target for Dr. Reddy's Laboratories stock. The figures show a weaker headline quarter, but a recovery plan centered on semaglutide remains intact.

Results expose the North America drag

According to Reuters on October 23, 2026, consolidated revenue fell 1.6 percent year over year to INR 86.98 billion in the quarter ended September 30, 2026. Net profit after tax declined to INR 9.25 billion from INR 13.47 billion, but exceeded the INR 7.49 billion consensus estimate.

CNBC TV18 reported that EBITDA margin was 20.6 percent in the September quarter, down from 26.7 percent a year earlier. North America revenue fell 23 percent to INR 24.90 billion as lenalidomide sales weakened, while India revenue rose 17 percent to INR 18.51 billion.

Three dated steps for the pipeline

On October 21, 2026, Dr. Reddy's received Indian approval for Zytorvi, with the supporting trial showing a 42 percent reduction in the risk of disease or death versus chemotherapy alone, according to EquityBulls. On October 23, 2026, the company reported INR 86.71 billion of quarterly revenue, based on CNBC TV18. On the same date, management reiterated a 6 million to 7 million device target for fiscal 2027, according to MarketBeat.

Which dates could change the picture?

Management expects to relaunch semaglutide in November 2026, subject to validation, and has targeted December 22, 2026, for a U.S. regulatory decision on abatacept, according to MarketBeat. Those dates matter because the North American decline currently offsets growth in India and emerging markets.

Stock context after the report

The primary listing is on the NYSE, where Dr. Reddy's Laboratories was last at USD 13.21 on October 23, 2026 at 4:00 p.m. ET. Its market capitalization was USD 11.0 billion on that date, while the 52-week range was USD 11.36 to USD 15.67.