Exhibit 99.2

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 www.drreddys.com

June 21, 2022

National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)

BSE Limited (Scrip Code: 500124)

Dear Sir/ Madam,

Sub: Investor Day Presentation

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and

Disclosure Requirements) Regulations, 2015 and in furtherance of our intimation dated June 13, 2022, please find enclosed the Investors Day presentation for your information and record.

Please note that this presentation is also available on our website: www.drreddys.com

Thanking you.

Encl: As above

CC:    New York Stock Exchange Inc.(Stock Code :RDY)

          NSE IFSC Ltd.

Investor Day The Next and the New Purpose-driven | Future-ready | Sustainable 21 June 2022 2 © copyright Dr. Reddy’s Ltd.

Safe Harbor Statement This presentation contains forward-looking statements and information that involve risks, uncertainties and assumptions. Forward-looking statements are all statements that concern plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical fact, including, but not limited to, those that are identified by the use of words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “predicts”, “projects”, “aspirations”, “goals”, “aim”, “promises” and similar expressions. Risks and uncertainties that could affect us include, withoutlimitation: ▪ General economic and business conditions in India and other key global markets in which we operate; ▪ The ability to successfully implement our strategy, our research and development efforts, growth & expansion plans and technological changes; ▪ Changes in the value of the Rupee and other currency changes; ▪ Changes in the Indian and international interest rates; ▪ Allocations of funds by the Governments in our key global markets; ▪ Changes in laws and regulations that apply to our customers, suppliers, and the pharmaceutical industry; ▪ Increasing competition in and the conditions of our customers, suppliers and the pharmaceutical industry; and ▪ Changes in political conditions in India and in our key global markets. Should one or more of such risks and uncertainties materialize, or should any underlying assumption prove incorrect, actual outcomes may vary materially from those indicated in the applicable forward-looking statements. For more detailed information on the risks and uncertainties associated with the Company’s business activities, please see the company’s annual report filed in Form 20-F with the US SEC for the fiscal year ended March 31, 2021 and quarterly financial statements filed in Form 6-K with the US SEC for thequarters ended Jun 30, 2021, Sep 30, 2021, Dec 31, 2021 and our other filings with US SEC. Any forward-looking statement or information contained in this presentation speaks only as of the date of the statement. We are not required to update any such statement or information to either reflect events or circumstances that occur after the date thestatement or information is made or to account for unanticipated events. This presentation is property of Dr. Reddy's Laboratories Limited. Do not alter in any way or reproduce without permission. 1 © copyright Dr. Reddy’s Ltd.

Our purpose continues to guide and energize uson our journey Good Health Can’t Wait. Our credo translates into three pillars Access To serve as many patients as possible across the world Affordability operational excellence and productivity to deliver care affordably to patients Patient-centric Innovation Focused innovation to identify and address unmet needs of patients 3 © copyright Dr. Reddy’s Ltd.

Access Ourdistinctive strengths • Patient-centric innovation to address unmet needs • Preferred partner for Innovation • Vertically Integrated • Agile supply chain • Robust manufacturing operations • Productivity & execution excellence Science & technology Governance People • Global presence in 66 countries • Strong pipeline across markets • World class expertise in R&D Affordability Patient-centric Innovation 4 © copyright Dr. Reddy’s Ltd.

Sustainability Sustainability is deeply embedded in our purpose and forms the core of our organization 5 © copyright Dr. Reddy’s Ltd.

Sustainability has alwaysbeen an important focus area for us 2004 2010 2016 2007 2013 First Sustainability Report 2020 ‘Sustainability Statement’ 1st Materiality assessment Environmental Commitment with 6 Goals for 2020 ‘Sustainability By Design’ approach in operations Delivering ‘Good Health’ & Going ‘beyond compliance’ for a sustainable future 2010 ECS Wrap-up Achieved 3 goals completely; 3 partially Conducted Materiality Assessment Renewed our sustainability commitment 2021 Today we further strengthen our commitment to sustainability Social Environment Governance ▪ Waste minimization ▪ Waste management ▪ Water neutrality ▪ Emissions and Renewable Power ▪ Community development ▪ People practices ▪ Responsible Corporate citizen ▪ Strong focus on ethics, compliance and transparency 6 Good progress on environment, impactful work in communities and robust corporate governance © copyright Dr. Reddy’s Ltd.

Our Sustainabilitygoals Making our products accessible and affordable for patients Being committed to environmental stewardship Contributing to a fairer and more socially inclusive world Reducing carbon emissions • 100% renewable power (RE100) by 2030 • Carbon neutral in direct operations by 2030 • 12.5% reduction in indirect carbon emissions (Scope 3) by 2030 Water Positivity • Water-positive by 2025 Access • Serve 1.5Bn+ patients by 2030 Affordability • 25% new launches to be first to market by 2027 Innovation • 3 Innovative products improving standard of treatment every year Enhancing trust with our stakeholders Highest standards on Compliance and Ethics backed by robust Corporate Governance ESG disclosures: Enhance disclosure to reach top quartile by 2025 Strategic Suppliers: 100% of our strategic suppliers to be compliant with our internal ESG framework by 2030 Equity, diversity and inclusion • At least35% women in senior leadership (3X from current) by 2030 • Gender parity by 2035 • 3% of our workforce to be PwD by 2030 • Ensure 100% living wages for our extended workforce by 2025 7 © copyright Dr. Reddy’s Ltd.

Our Board of directors Whole Time DirectorsIndependent Directors Kalpana Morparia Allan Oberman Dr. Bruce LA Carter Sridhar Iyengar Penny Wan Dr. K P Krishnan Leo Puri Shikha Sharma Prasad R Menon G V Prasad Satish Reddy 8 © copyright Dr. Reddy’s Ltd.

EREZ ISRAELI Chief Executive Officer SANJAY SHARMA Global Head of Manufacturing M V RAMANA Chief Executive Officer, Branded Markets (India and Emerging Markets) DEEPAK SAPRA Chief Executive Officer, API and Services PARAG AGARWAL Chief Financial Officer ARCHANA BHASKAR Chief Human Resource Officer MUKESH RATHI Chief Digital and Information Officer MARC KIKUCHI Chief Executive Officer, North America Generics PATRICK AGHANIAN Chief Executive Officer, European Generics SUSHRUT KULKARNI Global Head of IPDO Strong Leadership Team JAYANTH SRIDHAR Global Head Biologics INDRAJIT BOSE Global Head of Quality 9 © copyright Dr. Reddy’s Ltd.

Our Strategy 10 © copyright Dr. Reddy’s Ltd.

We are delivering the promises we made in 2019 We have increased opportunities and reduced risks through Capital Reallocation Leveraging portfolio across markets Continuous Focus on increasing productivity delivering double digit growth * with healthy cash flow, no debt, and EBITDA & ROCE ^ of 24% achieving ~2X # Market Capitalization *CAGR last three years ^ROCE before impairment #Change in Market capitalization from 2018 to 2022 11 © copyright Dr. Reddy’s Ltd.

The context around us is changing More complex, Injectables and Biologics Patients looking for holistic solutions Disruption through Digital Geopolitics MacroeconomicsNew players in the Health ecosystem Intense competition in traditional Generics 12 © copyright Dr. Reddy’s Ltd.

Our strategy is in alignment with the opportunities and trends 3X 1.5Bn+ patients Growing the core Horizon 1 Building the future Horizon 2 Leadership in chosen spaces Sustainability Our Focus Our Execution Priorities Operational Excellence & Continuous Improvement Patient focused Innovation 13 © copyright Dr. Reddy’s Ltd.

We continue to progress on our journey in two horizons… Generics API Biosimilars Branded Generics OTC Immuno- oncology NCEs CDMO (small and large mol.) Digital Services Biologics and CGT Nutraceuticals Disease Management (drivers in short to long-term)(drivers in short to medium-term) Horizon 1 –Growing the core Horizon 2 –Building the future D2C 14 D2C: Direct -to-customer; CGT : Cell & Gene therapy © copyright Dr. Reddy’s Ltd.

…to deliver our future aspiration 15 Growth Serving 1.5Bn+ patients (3X from current baseline) Double digit revenue growth Returns 25% EBITDA and 25% ROCE Sustainability Be a leader © copyright Dr. Reddy’s Ltd.

With patient at the center, our execution is driven by three pillars of Market Leadership, Productivity andInnovation • Focus on ‘products that matter’ o Economy of Scale, Complex, Brands and Clinically differentiated products • Incremental & breakthrough • Unmet needs & user delight • Horizon-1 & Horizon-2 Leadership in chosen spaces • Digital and Automation • Operational & Commercial Excellence • Continuous Improvement To Serve 1.5Bn+ patients Sustainability Patient-focused Innovation Productivity 16 © copyright Dr. Reddy’s Ltd.

Market Leadership 17 © copyright Dr. Reddy’s Ltd.

North America –consistent growth in the last 10 out of 12 quarters Retail Institutional OTC Private label 60% products are ranked 1-3 55% products are ranked 1-3 Ranked 2 in Rx- OTC segment Product Vol. mkt. share gSuboxone 19% Icosapent Ethyl 12% Ciprofloxacin Dexamethasone 43% Metoprolol ER 25% Liposomal Doxorubicin 45% Growth despite price erosion Win in products Win in channels 862 1003 FY19 FY22 CAGR: 5% R e v e n u e ( $ M n ) Strong Portfolio Horizon 1 Horizon 2 • Injectables Business • Agile business model and productivity in Retail generics • OTC – Private label and brands • Direct to patient channels • Immuno- Oncology • Biosimilars • Digital-led self- care & wellness solutions • Drug-device combinations Key Focus areas 335+ products of which 160+ commercial and rest in various stages of the pipeline * 18 Source: Internal analysis, IQVIA *Pipeline means products filed or in under development stage © copyright Dr. Reddy’s Ltd.

North America –Robust pipeline of 175+ products , 90 of them filed Complex Gx Biosimilars Select products Semaglutide Teriparatide Octreotide Liraglutide Regadenoson Dasatinib Pegfilgrastim # Rituximab # Tocilizumab Abatacept ~40% Injectables/ Sterile products 25+ complex products across Drug-device combos, peptides, long-acting Injectables & RTUs At advanced stages on multiple platform technologies: Particulate Systems, Microsphere & Liposomal, Peptides platform, Emulsions and Suspensions # Partnership with Fresenius Kabi in the US market. *Pipeline means products filed or in under development stage. RTU –Ready-to-use 19 © copyright Dr. Reddy’s Ltd.

Europe –2X in the last three years Continuous Growth; Rapid expansion 97 192 FY19 FY22 CAGR: 26% R e v e n u e ( M n € ) Strong pipeline * of biosimilars and generics Horizon 1 Horizon 2 • Build scale in EU5 –Germany, UK, Spain, France and Italy • Selective geographic expansion to other markets • More first-to- market launches leveraging current portfolio • Biosimilars• Branded businesses - differentiated branded and OTC play • Pioneering in new spaces, e.g., Pharmaceutical Cannabis Key Focus areas 5 Expansion into 5 new countries in the last year Biosimilars Complex Generics • Pegfilgrastim # • Rituximab • Tocilizumab • Abatacept • Liraglutide • Doxorubicin liposomal Other Generics • Apixaban • Rivaroxaban • DMF • Sacubitril Select products #Partnership with Fresenius Kabi*Pipeline means products filed or in under development stage 160 160 commercial products 20 © copyright Dr. Reddy’s Ltd.

India ~2X in the last four years; Continues to outperform IPM Horizon 1 Horizon 2 • Building big brands through strong product management processes • Winning in chosen therapy/ disease areas through differentiated portfolio & inorganic play • Productivity through sales & marketing excellence using Digital & Analytics • Condition & disease management • Digital ecosystem play • Nutraceuticals • OTC • Biologics and CAR-T • NCE / NBE Key Focus areas …with big brands 16 15 Brands in IPM Top 300 Brands with >100Cr+ 10 MQT Rank in the IPM Market beating growth… Driving outcomes strongly Brand MAT as per IPM (? Cr) OMEZ & OMEZ D 389 ZEDEX & BRO-ZEDEX 305 ATARAX 162 RAZO-D 134 KETOROL 125 STAMLO 117 NISE 114 26 42 FY19 FY22 R e v e n u e ( I N R B n ) CAGR: 17*% 5 Aim to be among Top 5 in India + other inorganic moves …towards aspiration 21 Source: Internal analysis, IQVIA © copyright Dr. Reddy’s Ltd.

Emerging Markets –2X in the last four years Horizon 1 Horizon 2 • Grow Mega- brands in Rx and OTC • Leverage global portfolio into EM Geography Reach • Productivity Growth through S&M excellence • Disease management • Direct-to- Customer • Differentiated formulations, Nutrition portfolio • Biologics • NCE / NBE Key Focus areas Fastest among Indian peers … 29 46 FY19 FY22 R e v e n u e ( I N R B n ) CAGR: 16*% 13 13 new markets in last 5 years Serving patients in 33 countries 33 …driven by market expansion …excellence in S&M and a strong portfolio Brazil ChinaRussia • 40 products, 6 mega-brands • 800+ employees • Aim to be 2-3X in next 5 years • Double-digit filings annually • Aim to be 4-5X in next 5 years • Oncology & Institutional 564 Filings in last 4 years 11 Brands with >100Cr+ 22 Source: Internal analysis, IQVIA © copyright Dr. Reddy’s Ltd.

*Revenue CAGR from FY19 to FY22 Our API business is… Essential for our competitive advantage Key to leveraging our current portfolio across markets Key to enable global access to address unmet patient needs A B C API Develop, manufacture and sell APIs to customers globally Aim to backward-integrate 70%+ core molecules resulting in +500 bps gross margin improvement in next 5 years 225+ active DMFs, 55+ products in pipeline API+ Institutional & B2B sales of value-added offerings above the API Currently in 25+ countries; Aim to be in 60+ countries in next 5 years Discovery + CDMO (APSL) Discovery + CDMO services to originator & biotech companies Serving 3 of top 5 innovators and 120 biotech companies globally Health access business Working with public health institutions to enhance access 5Mn+ lives during Covid-19; Aim to impact 500Mn+ lives in the next five years 1 2 3 4 23 © copyright Dr. Reddy’s Ltd.

Biologics -We are scaling-up to build a global Biosimilars business in Horizon-1and CGT and CDMO in Horizon-2 S c a l i n g - u p c u r r e n t B i o s i m i l a r s b u s i n e s s B u i l d i n g B i o l o g i c s □We have a current portfolio of 6 commercial products inIndia and in 25+ Emerging Markets □We are building a Global biosimilars business withHighlyRegulatedMarket Approvals • PEG-GCSF # : already approved in Europe and in advanced stages of review with US FDA • Rituximab: Advanced stages of completing Global Safety Efficacy trials; expected filing for regulated markets by early 2023 # Out-licensed product • 2 assets expected to enter clinical phase • 2 other assets to be scaled-up □Robust pipeline of $50Bn+ of Innovator Peak Sales Products in pipeline across various stages of development; 1 filed 12 By FY23 □Focus areas: Oncology& Auto-Immune disease Cell and Gene therapy CDMO Biologics 24 © copyright Dr. Reddy’s Ltd.

Productivity 25 © copyright Dr. Reddy’s Ltd.

26 Case Study Our aspiration is to be the most efficient pharma operations in the world Productivity to us is to be first-to-market, have lowest cost, deliver best customer service & always be beyond compliance. The key enablers are: - Integrated Product Strategy to alignglobal market opportunities & drive seamless execution - Best-in-class results delivery engine to be First-to-Market - Deliver the mostcompetitive products through continuousLife CycleManagement and Top decile productivity - Align longterm infrastructure planwithour aspirations - Accelerate improvements through Industry 4.0 Technologies 2 3 4 5 1 26 26 © copyright Dr. Reddy’s Ltd.

27 We have demonstrated step change in operational productivity in the last 4 years Metric Improvement (FY18 vs FY22) Opex productivity We continue to progress strongly towards our aspiration of being top decile in operational productivity - API operations 1 (opex as a % of sales) - Sterile operations 2 ($/unit) - Formulations OSD operations 2 ($/’000 units) 1. Plants based in India 2. Only considering fully commercialized India based plants 27 26 35% FY18 FY22 Aspiration FY18 FY22 Aspiration 83% 39% FY18 FY22 Aspiration © copyright Dr. Reddy’s Ltd.

28 From Top Quartile to Top Decile: Deploying 40+ industry 4.0 use cases in our largest plant 4IR AR/VR Digital Performance Management Advanced Analytics Digital Twin IIoT Process Digitalization & Automation ?2 Digital Twins ?Digital twin for manufacturing & quality testing ?15use cases ?Improve product robustness, quality, energy, throughput and yield. ?2use cases ?Micro stoppage analysis & asset heath monitoring ?14use cases ?Decision-making based on real time visibility across manufacturing, quality & sustainability. ?8use cases ?Warehouse automation through robotics and digital process automation (RPA) ?2 use cases ?New operator training and remote assistance for method transfer 26 28 © copyright Dr. Reddy’s Ltd.

29 Our digital transformation 1 has improved speed, reduced people workload, removed redundant steps & delivered more output Category Cost Impact (2017-2021) 27% of total export shifted from air to sea mode of transport 43% reduction in manufacturing cost per 1000 pills 56% increase in factory output, helping sustain margin against prices erosion reduction in production lead time 30% reduction in quality deviations per production batch 76% reduction in customer complaints due to improved process & execution robustness 43% Productivity Quality 29 1. Transformation in our largest plant in India © copyright Dr. Reddy’s Ltd.

We are driving productivity in sales & marketing using Digital & Analytics Non-linear growth by making S&M spends work harder Convert S&M Operating “Spends” to “Investments” Geo/ Customer coverage Engagement & conversion Distribution service levels Share of wallet expansion Building Mega- brands Expanded indications & dosage Forms Being the ‘Partner’ of choice for HCPs Deeper integration into Patient journeys Sales & Marketing Spends: Rapid “Pilot, Test & Measure” processes to reallocate for higher RoI Portfolio & Product Management Process HCP Engagement Programs Pill+ Initiatives ~22% Higher in-clinic time ~15% increase in number of brands detailed by TMs 2.5X Number of towns covered Smart Rep & Omni Channel Programs GTM Innovations/ Structures Improvement in the three metrics in the last year in our India business GTM: Go-to-market; HCP: Health care professionals 30 © copyright Dr. Reddy’s Ltd.

Innovation 31 © copyright Dr. Reddy’s Ltd.

The Industry is facing a shift and we are investing to lead Our Approach: Anchored in our Purpose Fulfills an unmet need Meaningful opportunity Right to Win Scaling-up New spaces CDMO Immuno-oncology NCEs Nutraceuticals Preventive & Primary Care Platform SVAAS Disease management Horizon 2 areas Biologics and Cell & Gene therapy Differentiated Formulations … and more End-to-End disease thinking 32 © copyright Dr. Reddy’s Ltd.

We are evaluating spaces through our Innovation unit; Projects across different stages Current Developments S c a l i n g - u p Our Aspiration Nutraceuticals Products in Diabetes, Renal, Hepatology, Gastro and Hospital nutrition Nutrition unit with clinically-proven, differentiated, personalized products and services 3 of top 5 innovators 120 biotech companies globally Technologically differentiated CDMO CDMO 25+ programs - Internal, partnership & in-licensing 6 in clinical trial; 7 in IND filing stage Global Oncology Biotech franchisee Immuno- oncology NCEs 33 © copyright Dr. Reddy’s Ltd.

We are evaluating spaces through our Innovation unit; Projects across different stages Current Developments N e w S p a c e s Our Aspiration Disease Management Differentiated Formulation SVAAS Cell and Gene therapy Successful pilot in 7 cities; 25K lives Leading Primary care & condition management services platform Multiple products in development pipeline Develop clinically-differentiated assets with efficacy & tolerability for specific unmet needs Several pilots in progress Multiple end-to-end condition management platforms in chosen therapy areas In-licensing partnership facility set-up; PoC Currently under validation To be a prominent CGT player 34 © copyright Dr. Reddy’s Ltd.

Financials 35 © copyright Dr. Reddy’s Ltd.

* as on 31st March' 2022 ** before acquisitions & receivables unwinding We have a strong balance sheet to invest in future growth Net cash surplus of Rs. 1,500+ Cr* Consistent annual cash generation of Rs. 2,000+ Cr** Strong Credit Rating Low financial risk in a volatile environment Opportunities to drive inorganic growth 36 © copyright Dr. Reddy’s Ltd.

We will leverage Horizon 1 growth levers and drive productivity to invest in Horizon 2 spaces Our medium-term aspiration Double digit sales growth Double-digit sales growth EBITDA 25% ROCE 25% A virtuous cycle of sustainable value creation Productivity Operating leverage, CIPs, digitalisation Maintain growth momentum Scale up H2 businesses Invest in H2 spaces Double-digit sales growth H1 growth levers 37 CIPs –Cost Improvement Programs © copyright Dr. Reddy’s Ltd.

There may be near- term volatility, however, our strategy will drive long-term value creation for all stakeholders We will focus on creating the future while navigating industry-wide near-term challenges Inflationary environment Demand volatility Continued price erosion Geopolitical uncertainties 38 © copyright Dr. Reddy’s Ltd.

We will continue to follow a disciplined capital allocation approach Funding R&D and Capex for Horizon 1 businesses Scale up Biosimilars, NCE & CDMO Develop new business models for Horizon 2 Utilize cash for growth Value accretive Inorganic Moves Allocate Capital to Maximize Growth Optimize Financial Risk Create Sustainable Value 39 © copyright Dr. Reddy’s Ltd.

In summary, we are… 1 …a diversified pharma company with strong broad-based growth levers 2 …creating new (Horizon 2) business models while growing in existing (Horizon 1) spaces to drive sustainable growth for all stakeholders 3 …supplementing growth with value accretive inorganic moves 4 …on a productivity journey to have best-in-class cost structure driven by capabilities in people, processes and digital 5 …an organization driven by its purpose and sustainability integrated into its core 40 © copyright Dr. Reddy’s Ltd.

Thank You