Dr. Reddy''s Laboratories Ltd.
By 2 December 1999 | 02 Dec 1999
Commercial Paper Programme- Rs. 500 million Rating : P1+(Reaffirmed)
The ''P1+'' (pronounced P one plus) rating assigned to the Rs. 500 million Commercial Paper Programme of Dr. Reddy’s Laboratories Limited (DRL) has been reaffirmed.
DRL’s rating reflects the consolidation of its brands in chosen therapeutic segments both in domestic and export markets, diversified market & therapeutic presence, research driven integrated operations (two new molecules have entered phase II of clinical trials) and strong financial position with robust cash flows. The rating takes into account the product concentration risk and volatility in earnings in the company''s bulk product portfolio.
In the first half ended September 1999, the company registered a net profit of Rs 307 million on gross sales of Rs 2397 million.