SCHEDULE 13G

NAME OF REPORTING PERSON

Mitsubishi UFJ Financial Group, Inc.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)

  (b)

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Tokyo, Japan

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Dr. Reddy’s Laboratories Ltd

(Name of Issuer)

Common Stock

(Title of Class of Securities)

256135203

(CUSIP Number)

December 31, 2019

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☑:	Rule 13d-1(b)

☐:	Rule 13d-1(c)

☐:	Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP NO. 256135203

*Held in the form of 8,273,674 shares of common stock and 392,754 American Depositary Receipts (“ADRs”), with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

CUSIP NO. 256135203

*Held in the form of 8,273,674 shares of common stock and 392,754 American Depositary Receipts (“ADRs”) with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

CUSIP NO. 256135203

*Held in the form of 8,208,902 shares of common stock and 380,409 American Depositary Receipts (“ADRs”) with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

CUSIP NO. 256135203

*Held in the form of 18,575 shares of common stock and 266 American Depositary Receipts (“ADRs”) with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

CUSIP NO. 256135203


ITEM 1

	(a)	Name of Issuer

		Dr. Reddy’s Laboratories Ltd.

	(b)	Address of Issuer’s Principal Executive Offices

		8-2-337, Road No.3, Banjara Hills, Hyderabad, Telangana 500034, India

ITEM 2

	(a)	Names of Persons Filing

		Mitsubishi UFJ Financial Group, Inc. (“MUFG”)

		Mitsubishi UFJ Trust and Banking Corporation (“MUTB”)

		First Sentier Investors Holdings Pty Ltd (“FSIHD”)

		Mitsubishi UFJ Kokusai Asset Management Co., Ltd. (“MUKAM”)

	(b)	Address of Principal Business Office or, if none, Residence

		MUFG :
		7-1 Marunouchi 2-chome, Chiyoda-ku
		Tokyo 100-8330, Japan

		MUTB :
		4-5 Marunouchi 1-chome, Chiyoda-ku
		Tokyo 100-8212, Japan

		FSIHD :
		Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000,

		MUKAM :
		12-1 Yurakucho 1-chome, Chiyoda-ku Tokyo 100-0006, Japan

	(c)	Citizenship

		MUFG : Tokyo, Japan
		MUTB : Tokyo, Japan
		FSIHD : Commonwealth of Australia
		MUKAM : Tokyo, Japan

CUSIP NO. 256135203


	(d)	Title of Class of Securities

		Common Stock

	(e)	CUSIP Number

		256135203 (this CUISIP number is for the issuer’s American Depository Shares, not the Common Stock)

ITEM 3		If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

	MUFG:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

		(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

		(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

		(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

		(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

		(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

		(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

		(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

		(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

		(j)[Ö]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

		(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

		If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Parent holding company

	MUTB:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

		(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

		(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

		(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

CUSIP NO. 256135203


	(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

	(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

	(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

	(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

	(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

	(j)[Ö]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

	(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

	If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Bank

FSIHD:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

	(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

	(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

	(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

	(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

	(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

	(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

	(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

	(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

	(j)[Ö]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

	(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

	If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Parent holding company

CUSIP NO. 256135203


	MUKAM:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

		(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

		(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

		(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

		(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

		(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

		(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

		(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

		(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

		(j)[Ö]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

		(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

		If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Investment adviser

ITEM 4		Ownership

		Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.



For MUFG

(a)	Amount beneficially owned:	8,666,428

(b)	Percent of class:	5.23%

(c)	Number of shares as to which the person has:

	(i) Sole power to vote or to direct the vote:	8,666,428

	(ii) Shared power to vote or to direct the vote:	-0-

	(iii) Sole power to dispose or to direct the disposition of:	8,666,428

	(iv) Shared power to dispose or to direct the disposition of:	-0-

For MUTB

(a)	Amount beneficially owned:	8,666,428

(b)	Percent of class:	5.23%

CUSIP NO. 256135203


	(c)	Number of shares as to which the person has:

		(i) Sole power to vote or to direct the vote:	8,666,428

		(ii) Shared power to vote or to direct the vote:	-0-

		(iii) Sole power to dispose or to direct the disposition of:	8,666,428

		(iv) Shared power to dispose or to direct the disposition of:	-0-

	For FSIHD

	(a)	Amount beneficially owned:	8,589,311

	(b)	Percent of class:	5.18%

	(c)	Number of shares as to which the person has:

		(i) Sole power to vote or to direct the vote:	8,589,311

		(ii) Shared power to vote or to direct the vote:	-0-

		(iii) Sole power to dispose or to direct the disposition of:	8,589,311

		(iv) Shared power to dispose or to direct the disposition of:	-0-

	For MUKAM

	(a)	Amount beneficially owned:	18,841

	(b)	Percent of class:	0.01%

	(c)	Number of shares as to which the person has:

		(i) Sole power to vote or to direct the vote:	18,841

		(ii) Shared power to vote or to direct the vote:	-0-

		(iii) Sole power to dispose or to direct the disposition of:	18,841

		(iv) Shared power to dispose or to direct the disposition of:	-0-

ITEM 5	Ownership of Five Percent or Less of a Class

	Not applicable.

ITEM 6	Ownership of More than Five Percent on Behalf of Another Person

	Not applicable.

ITEM 7	Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

	As of December 31, 2019, MUFG beneficially owns 8,666,428 shares of the issuer indirectly through its subsidiaries as follows: MUTB holds 8,666,428 shares (indirectly through a subsidiary, FSIHD); and (indirectly through a subsidiary, MUKAM). Furthermore, FSIHD holds 8,589,311 shares (indirectly through its subsidiaries as follows; First Sentier Investors (Australia) IM Ltd, First Sentier Investors (Australia) RE Ltd, First State Investments (Singapore), First State Investment Management (UK) Limited and First State Investments International Limited).

CUSIP NO. 256135203


ITEM 8				Identification and Classification of Members of the Group

				Not applicable.

ITEM 9				Notice of Dissolution of Group

				Not applicable.

ITEM 10				Certifications

				By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


February 13, 2020

Mitsubishi UFJ Financial Group, Inc.

By:		/s/ Riyuuichirou Sakuma

Name:		Riyuuichirou Sakuma

Title:		Managing Director, Deputy Head of Credit Policy & Planning Division

CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


February 13, 2020

Mitsubishi UFJ Trust and Banking Corporation

By:		/s/ Masahiro Saruta

Name:		Masahiro Saruta

Title:		Managing Executive Officer and General Manager, Asset Management and Investor Services Planning Division

CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


February 13, 2020

First Sentier Investors Holdings Pty Ltd

By:		/s/ Yutaka Kawakami

Name:		Yutaka Kawakami

Title:		Deputy CEO

CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


February 13, 2020

Mitsubishi UFJ Kokusai Asset Management Co., Ltd.

By:		/s/ Takashi Miyazaki

Name:		Takashi Miyazaki

Title:		General Manager of Risk Management Division