Board reshuffle at Dr. Reddy’s (NYSE: RDY) adds AI leader, new auditors
Rhea-AI Filing Summary
Dr. Reddy’s Laboratories’ Board met on May 12, 2026 and approved several governance and leadership changes. It re-appointed Dr. K P Krishnan as an Independent Director for a second five-year term from January 7, 2027 to January 6, 2032, subject to shareholder approval.
The Board also approved Mr. Srikanth Velamakanni as an Additional Director, categorized as an Independent Director, for five years from July 1, 2026 to June 30, 2031, and appointed Deloitte Haskins & Sells LLP as Statutory Auditors for five years starting after the 42nd AGM. M/s Sagar & Associates were re-appointed as Cost Auditors for FY 2026-27.
Mr. Sandeep Khandelwal, Global Generics India Head, was elevated to Senior Management Personnel and inducted into the Management Council effective May 12, 2026. Under his leadership, the India business has grown its topline from Rs 2,300 crore to Rs 7,000 crore and expanded EBITDA margins from 19 percent to 24 percent, while scaling to a USD 750 million operation across six countries.
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Key Figures
Key Terms
Independent Director financial
Statutory Auditors financial
Cost Auditors financial
Senior Management Personnel financial
Nomination, Governance and Compensation Committee financial
EBITDA margins financial
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
May, 2026
Commission File Number 1-15182
DR. REDDY’S LABORATORIES LIMITED
(Translation of registrant’s name into English)
8-2-337, Road No. 3, Banjara Hills
Hyderabad, Telangana 500 034, India
+91-40-49002900
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ______
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ______
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b): 82-________.
EXHIBITS
Exhibit Number |
| Description of Exhibits |
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99.1 | Intimation dated May 12, 2026 |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| DR. REDDY’S LABORATORIES LIMITED (Registrant) | ||
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Date: May 12, 2026 | By: | /s/ K Randhir Singh | |
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| Name: | K Randhir Singh |
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| Title: | Company Secretary |
| 3 |
Exhibit 99.1
| Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills Hyderabad – 500 034, Telangana, India
CIN: L85195TG1984PLC004507
Tel: + 91 40 4900 2900 Fax: + 91 40 4900 2999 Email: mail@drreddys.com Web: www.drreddys.com |
May 12, 2026
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY)
BSE Limited. (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
Sub: Outcome of Board Meeting held on May 12, 2026
Reference: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
In continuation to our letters dated March 23, 2026 and April 16, 2026, we would like to inform that the Board of Directors of the Company, at its meeting held today, i.e., May 12, 2026, inter alia considered and approved the following:
1. | Re-appointment of Dr. K P Krishnan (DIN: 01099097) as an Independent Director |
Approved re-appointment of Dr. K P Krishnan (DIN: 01099097) as an Independent Director for a second term of five consecutive years from January 7, 2027 to January 6, 2032, not liable to retire by rotation, subject to approval of the shareholders at the ensuing AGM.
Dr. Krishnan is not related to any of the Directors or Key Managerial Personnel of the Company and is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. He meets the criteria for being re-appointed as an Independent Director under the applicable laws.
2. | Appointment of Mr. Srikanth Velamakanni (DIN: 01722758) as an Independent Director |
Approved appointment of Mr. Srikanth Velamakanni (DIN: 01722758) as an Additional Director, categorized as an Independent Director, for a term of five consecutive years, from July 1, 2026 to June 30, 2031, not liable to retire by rotation, subject to approval of shareholders at the ensuing AGM.
Mr. Srikanth is not related to any of the Directors or Key Managerial Personnel of the Company and is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. He meets the criteria for being appointed as an Independent Director under the applicable laws.
3. | Appointment of M/s Deloitte Haskins & Sells, LLP, Chartered Accountants as Statutory Auditors |
Approved appointment of M/s Deloitte Haskins & Sells, LLP, Chartered Accountants (Firm Registration No. 117366W/W-100018), as the Statutory Auditors of the Company, for a term of five consecutive years, commencing from the conclusion of the 42nd AGM till the conclusion of the 47th AGM, subject to the approval of the shareholders at the ensuing AGM.
4. | Re-appointment of M/s Sagar & Associates, Cost Accountants as Cost Auditors |
Approved re-appointment of M/s Sagar & Associates, Cost Accountants (Firm Registration No. 000118), as the Cost Auditors of the Company for the Financial Year 2026-27.
5. | Elevation of Mr. Sandeep Khandelwal as a Senior Management Personnel |
Approved elevation of Mr. Sandeep Khandelwal, Global Generics India Head as a Senior Management Personnel of the Company and induction as a member of the Management Council, effective May 12, 2026.
The revised list of Senior Management Personnel is attached as Annexure.
The disclosures required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025‐CFD‐POD2/I/3762/2026 dated January 30, 2026, are attached as Annexures.
The Board Meeting commenced at 2:00 PM IST and concluded at 3:47 PM IST.
This is for your information and records.
Thanking you.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
K Randhir Singh
Company Secretary, Compliance Officer & Head-CSR
Encl: as above
Details of Dr. K P Krishnan (DIN: 01099097)
Sl.no. | Particulars | Details |
1. | Reason for change viz. | Re-appointment |
2. | Date of | Based on the recommendation of the Nomination, Governance and Compensation Committee, the Board has approved the re-appointment of Dr. K P Krishnan (DIN: 01099097) as an Independent Director of the Company for a second term of five consecutive years from January 7, 2027 to January 6, 2032, not liable to retire by rotation, subject to approval of the shareholders at the ensuing AGM. |
3. | Disclosure of relationships between directors (in case of appointment of a director) | Dr. K P Krishnan is not related to any of the Directors of the Company
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Brief Profile of Dr. Krishnan:
Dr. K.P. Krishnan is a former IAS officer with 37 years of distinguished service in public policy, economic governance, and regulatory reform across the Government of India, Government of Karnataka, and the World Bank. He has held key national leadership roles, including Secretary, Ministry of Skill Development and Entrepreneurship; Additional/Special Secretary in the Ministries of Finance and Rural Development; and Secretary to the Prime Minister’s Economic Advisory Council.
A respected academician, he has taught at IIM Bangalore, ISB, and Ashoka University, held the Bok Visiting Professorship at the University of Pennsylvania Law School, and served as IEPF Chair Professor at NCAER, New Delhi. He is currently a Distinguished Fellow at the Isaac Centre for Public Policy, Ashoka University.
Dr. Krishnan serves on the boards and advisory councils of several leading corporates and non‐profits, including Dr. Reddy’s Laboratories, Tata Consumer Products, Shriram Capital, ASREC India, Helios Trustee, Razorpay, and the Sanmar Group. He holds degrees in Economics (St. Stephen’s College), Law (Campus Law Centre, University of Delhi), and a Ph.D. in Economics (IIM Bangalore).
Details of Mr. Srikanth Velamakanni (DIN: 01722758)
Sl.no. | Particulars | Details |
1. | Reason for change viz. appointment, | Appointment |
2. | Date of appointment/ | Based on the recommendation of the Nomination, Governance and Compensation Committee, the Board has approved the appointment of Mr. Srikanth Velamakanni (DIN: 01722758) as an Additional Director, categorized as an Independent Director for a term of five consecutive years, effective from July 1, 2026 to June 30, 2031, not liable to retire by rotation, subject to approval of shareholders at the ensuing AGM.
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3. | Disclosure of relationships between directors (in case of appointment of a director) | Mr. Srikanth Velamakanni is not related to any of the Directors of the Company
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Brief Profile: Mr. Srikanth Velamakanni
Mr. Srikanth Velamakanni is one of India’s most influential technology leaders and a global champion of artificial intelligence. He is the Co-Founder and Group Chief Executive of Fractal, India’s first publicly listed pure-play AI company. He also serves as the Chairperson of Nasscom and as a Founder-Trustee of Plaksha University. Srikanth's work is guided by a long-term commitment to building technology that expands human potential.
Details of Statutory Auditors
Sl.no. | Particulars | Details |
1. | reason for change viz. appointment, re-appointment, | Appointment |
2. | Date of appointment/ | Based on the recommendation of the Audit Committee, the Board has approved the appointment of M/s Deloitte Haskins & Sells, LLP, Chartered Accountants (Firm Registration No. 117366W/W-100018), as the Statutory Auditors of the Company, for a term of five consecutive years, commencing from the conclusion of the 42nd Annual General Meeting (AGM) till the conclusion of the 47th AGM, subject to the approval of the shareholders at the ensuing AGM.
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3. | Brief profile (in case of appointment) | Deloitte Haskins & Sells, Mumbai was constituted in 1997 and has been converted to a Limited Liability Partnership (LLP), with the name Deloitte Haskins & Sells LLP ("“DHS LLP”" or "“Firm"”), w.e.f. November 20, 2013. DHS LLP is registered with the Institute of Chartered Accountants of India (Registration No. 117366W/W-100018) and is a part of Deloitte Haskins & Sells & Affiliates being the Network of Firms registered with the ICAI. The registered office of the Firm is One International Center, Tower 3, 31st Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400013, Maharashtra, India.
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4. | Disclosure of relationships between directors (in case of appointment of a director) | Not applicable |
Details of Cost Auditors
Sl.no. | Particulars | Details |
1. | Reason for change viz. appointment, re-appointment, | Re-appointment |
2. | Date of appointment/ | Based on the recommendation of the Audit Committee, the Board has approved the re-appointment of M/s Sagar & Associates, Cost Accountants (Firm Registration No. 000118), as the Cost Auditors of the Company for the Financial Year 2026-27. |
3. | Brief profile (in case of appointment) | M/s Sagar & Associates, Cost Accountants (Firm Registration No. 000118) is a peer reviewed leading firm of Cost & Management Accountants having diversified activities in cost and management accounting area. The firm consisting of qualified cost accountants has undertaken many assignments in various industries. The registered office of the Firm is at 205, Raghava Ratna Towers , Churag Ali Lane, Abids, Hyderabad – 500001 |
4. | Disclosure of relationships between directors (in case of appointment of a director) | Not applicable
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Details of Mr. Sandeep Khandelwal
Sl.no. | Particulars | Details |
1. | Reason for change viz. appointment, | Elevation of Mr. Sandeep Khandelwal, Global Generics India Head as Senior Management Personnel |
2. | Date of appointment/ | Based on the recommendation of the Nomination, Governance and Compensation Committee, the Board has approved elevation of Mr. Sandeep Khandelwal, Global Generics India Head as Senior Management Personnel of the Company and his induction as a Member of Management Council, effective from May 12, 2026. |
3. | Disclosure of relationships between directors (in case of appointment of a director) | Not applicable
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Brief Profile of Mr. Sandeep Khandelwal
Sandeep Khandelwal brings 26 years of leadership experience across General Management, Sales, Marketing and functional roles, with deep sectoral expertise spanning Pharmaceuticals, OTC, FMCG and Consumer Durables and extensive exposure across South Asia.
Sandeep joined Dr. Reddy’s Laboratories in 2018 and currently heads the India sub‐continent business, a USD 750 million operation spanning India, Nepal, Sri Lanka, Myanmar, Maldives and Mauritius. He leads a 10,000‐strong organization across more than 45 divisions and six countries.
Over the last seven years, Sandeep has led a significant transformation of Dr. Reddy’s India business, evolving it from a branded generics‐centric model into a multi‐engine organization, with innovative assets and consumer businesses shaping the next phase of growth. During this period, the India topline has grown from Rs 2,300 crore to Rs 7,000 crore, EBITDA margins have expanded from 19 percent to 24 percent, and the company’s market rank in India has improved from 16th to 9th. The business has consistently delivered quarter‐on‐quarter market‐beating growth over the last 1.5 years.
He has shaped and is executing a clear strategic agenda focused on strengthening core brands, sharpening portfolio choices and structurally improving profitability. The emphasis has been on elevating business quality through higher throughput efficiency, disciplined gross‐to‐net management and selective pruning of non‐core elements, while progressively refreshing the portfolio through differentiated internal R&D‐led launches and curated in‐licensing partnerships with global and regional pharmaceutical players. In parallel, he instituted strong medical and marketing excellence capabilities to anchor a sustained, multi‐year growth runway for the company’s flagship brands.
Sandeep has embedded a strong “Playing to Win” performance culture across the organization and accelerated the adoption of digital and multi‐channel engagement models, resulting in a 14 percent improvement in field force productivity. He has also led complex change‐management efforts across employees, channel partners, trade bodies and employee unions.
Key milestones under his leadership include the Wockhardt and Novartis acquisitions, the establishment of the Nestlé–Dr. Reddy’s Nutrition joint venture, and expansion across high‐growth platforms such as Vaccines, Biologics, Nutrition, OTC, E‐commerce, Trade Generics, alternate channels and rural markets.
Prior to Dr. Reddy’s, Sandeep held senior leadership roles at Abbott India, including Commercial Director for Women’s Health, Gastroenterology, Hepatic and OTC therapies, and Director, Commercial Excellence. Earlier in his career at Marico Limited, he held multiple frontline and enterprise leadership roles across sales, trade marketing, channel development and regional management, including heading sales for the Rs. 2,100 crore personal care portfolio.
Sandeep has also driven a step‐change in leadership diversity, significantly enhancing gender diversity and diversity of thought within leadership and commercial teams. He actively represents the organization at leading industry forums such as FICCI and the Indian Pharmaceutical Alliance. Key recognitions include being named among the “40 Under 40: Hottest Business Leaders” by The Economic Times in association with Spencer Stuart.
List of revised Senior Management Personnel
Sl.No | Name of the SMP | Designation |
1 | Mr. Satish Reddy | Chairman and Whole-time Director |
2 | Mr. G V Prasad | Co-Chairman and Managing Director (KMP) |
3 | Mr. Erez Israeli | Chief Executive Officer (KMP) |
4 | Mr. M V Ramana | CEO Global Generics |
5 | Mr. Sanjay Sharma | Chief Operating Officer |
6 | Mr. M V Narasimham | Chief Financial Officer (KMP) |
7 | Mr. Deepak Sapra | Chief Executive Officer, API and Services |
8 | Mr. Krishna Venkatesh
| Global Head of IPDO - Integrated Product Development Organization |
9 | Mr. Patrick Aghanian | Head - Consumer Health Organization |
10 | Mr. Phanimitra B | Chief Digital and Information Officer |
11 | Mr. Milan Kalawadia | Chief Executive Officer, North America |
12 | Mr. M S Madhu Sundar | Global Head of Quality and PV |
13 | Mr. Sandeep Khandelwal | Global Generics India Head |
14 | Mr. K Randhir Singh
| Company Secretary, Compliance Officer and Head-CSR (KMP) |