CMP : 3,384
Target Price : 3,933
For 2QFY2016, Dr Reddys Laboratories (DRL) posted in line sales while the net
profit growth exceeded our estimates. The company posted an 11.2% yoy growth
in sales to Rs3,989cr V/s Rs4,000cr expected and V/s Rs3,588cr in 2QFY2015,
mainly driven by global generics. On the operating front, the EBIT margin came
in at 22.4% V/s 18.7% expected..