Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price12.19 USD
Fair value13.62
Ethical score70.0/100
Our investment reviews on this name
2026-09-11Read Markdown12.17+0.2% to today
2026-07-02Read Distribution13.30-8.3% to today ✓
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Dr. Reddy's Laboratories Ltd ADR holds its Markup at $12.19. Consolidating, no directional conviction, held for 15 days.
As held on the ledger · 2026-09-18
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 15 days
Price at the screen
$12.19
Valuation
29.73 trailing · 18.88 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.24
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
13.35%
Below 33%
Interest-bearing debt is just 13.3% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
1.37%
Below 33%
Cash held in interest-bearing accounts and securities is 1.4% of assets, under the one-third limit.
Pass
Receivables
20.12%
Below 49%
Money owed to the company is 20.1% of assets, under the 49% limit.
Pass
Revenue purity
1.11%
Below 5%
Only 1.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. A 11.7% margin of safety to the base estimate.
Third-party analyst targets: 5 covering, consensus Hold. The average target sits +7% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Indian Generics Maker Lacks Fresh Momentum
Picture a Mumbai pharmacy shelf where patients grab affordable copies of common medicines. Dr Reddy's supplies many of those pills across India and beyond, yet its revenue has dropped 12 percent and the shares trade close to our fair value estimate.
We pass because the business shows no real opportunity. Forward earnings sit at 19 times with only a narrow moat, a 13 percent profit margin and 12 percent return on equity. The market already prices it fairly and analysts rate it a hold.
Currency swings and tough price competition in generics remain real risks for any India based player. Growth has already turned negative, so the modest margin of safety offers little protection if pressure continues. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to India and to currency swings; as a drug manufacturers - specialty & generic name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RDY trades on the NYSE (the company is based in India). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-11Markdown · changed$12.17+2.9%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 16%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (5 analysts) rates it hold, with a mean price target of $14.
2026-08-11Distribution$11.83-11.1%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 11.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 16%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (5 analysts) rates it hold, with a mean price target of $14.
2026-07-18Distribution$13.30+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 16%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (5 analysts) rates it hold, with a mean price target of $14.
2026-07-03Distribution$13.30+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$13.30Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
