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 |
February 28, 2025
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)
Dear Sir/Madam,
| Ref: | Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 |
This is to inform that the Company has received an order from GST Authority towards tax demand including interest and levying penalty. The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are as hereunder:
| S.No. | Name of the authority | : | Excise and Taxation Officer, Ambala, Haryana. |
| 1 | Nature and details of the action(s) taken, or order(s) passed | : | The Company has received order seeking demand including interest and levying penalty under HGST Act, 2017. |
| 2 | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority | : | Order dated February 28, 2025, was received by the Company on February 28, 2025. |
| 3 | Details of the violation(s)/ contravention(s) committed or alleged to be committed | : | The authority has passed the order on the ground that the Company has availed irregular credit on sales returns. |
| 4 | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | : | The above order levies a penalty of Rs. 38,63,481/-. Based on our evaluation, there is no material impact on the financials, operations, or other activities of the Company. |
The Company will evaluate filing necessary appeal with the appellate authority in this regard.
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