a) Gross Sales

1248.66

5021.64

Less: Excise Duty

13.49

61.04

Net Sales

1235.17

4960.60

b) Other Operating Income

127.53

296.42

Total Operating Income (a+b)

1362.70

5257.02

a) (Increase)/decrease in
     Stock-in-trade and work in      progress

(1.65)

(113.55)

b) Consumption of Materials

451.42

1892.18

c) Purchase of Traded Goods

116.75

588.04

d) Employee Cost

77.88

316.95

e) Depreciation

55.66

170.61

f) Other Expenditure

369.15

1537.27

g) Total

1069.21

4391.50

Profit (+)/Loss (-) from Operations before Other Income, Interest & Exceptional Items (1-2)

293.49

865.52

Other Income

15.45

69.75

308.94

935.27

Interest

13.27

33.96

Profit (+)/Loss (-) after Interest but before Exceptional Items
(5-6)

295.67

901.31

-

-

Profit (+)/Loss (-) before Tax (7+8)

295.67

901.31

Tax Expense
a) Current Tax
b) Deferred Tax
c) Fringe Benefit Tax

 
32.75
7.50
2.50

101.00
15.00
8.50

Net Profit (+)/Loss (-) after Tax (9-10)

252.92

776.81

Paid-up Equity Share Capital (Face Value Rs.2/- per share)

155.46

Reserves excluding Revaluation
Reserves as per Balance Sheet of previous Accounting Year

Earning per Share (Rs.)
** Not Annualised

3.25**

Public Shareholding
- Number of Shares
- Percentage of Shareholding

462918088
59.56

Promoters and Promoter Group Shareholding

a) Pledged/Encumbered
     - Number of Shares
     - Percentage of shares
       (as a % of the total        shareholding of promoter        and promoter group)
     - Percentage of shares
       (as a % of the total share        capital of the Company)

NIL
NIL

NIL

NIL
NIL

NIL

NIL
NIL

NIL

b) Non Encumbered
     - Number of Shares
     - Percentage of shares
        (as a % of the total         shareholding of promoter         and promoter group)
     - Percentage of shares
        (as a % of the total share         capital of the Company)

295485978
100.00



36.80

306108047
100.00



39.38

1. The Company is essentially in the pharmaceutical business segment.
2. No investor grievances were pending at the beginning of the quarter. During the quarter ended 31st March, 2010, four investor grievances were received. As of 31st March, 2010 all grievances have been suitably replied to.
3. The Company has commenced commercial production at its state-of-the-art formulation facility located at Pithampur SEZ, Indore.
4. The Company and other manufacturers have challenged the inclusion of five drugs i.e Salbutamol, Theophylline, Ciprofloxacin, Cloxacillin and Norfloxacin within the ambit of price control. The Bombay High Court held in favour of the Company that the drugs are outside the ambit of price control. However, on appeal, the Supreme Court has remanded the matter to the Bombay High Court to be reexamined in the light of certain directions and principles laid down by the Supreme Court. The matter is still pending in the Bombay High Court. The Supreme Court also stayed the recovery of amounts demanded from the Company and other petitioners but gave liberty to the government to recover 50% of the alleged overcharged amounts. In a separate writ petition filed before the Allahabad High Court, the Company had challenged the price fixation notifications in respect of formulations of the aforementioned and other drugs like Doxycycline, etc. The Allahabad High Court had ruled that all the said price fixation notifications were ultra vires, illegal and void. The government has filed an appeal against this judgement which is pending in the Supreme Court. The Supreme Court has stayed the judgement of the Allahabad High Court but directed that no prosecution can be launched or coercive action taken against the Company for recovery of any amount in respect of these drugs till the appeal has been finally decided. The Company has been advised that as a result of the order of the Supreme Court, the Company cannot be compelled to make payment of any amounts demanded in respect of these drugs. Despite the aforementioned order of the Supreme Court, the government has issued various demand notices from time to time in respect of these very drugs demanding various amounts including interest for varying periods. The total amount demanded as of date including interest, amounts to Rs.1157.12 crores. The Company has received legal advice that none of the demand notices of the government is tenable, sustainable or payable and the Company has also informed the same to the government.
5. *During the quarter, the Company sold its intellectual property rights and technical knowhow of “i-pill”, an emergency contraceptive brand, to Piramal Healthcare Limited for the territory of India at an aggregate consideration of Rs. 95 crores.
6. The figures of the previous year have been regrouped/recast to render them comparable with the figures of the current year.
7. The above results after being reviewed by the Audit Committee were approved at the meeting of the Board of Directors held on 7th May, 2010. Limited Review as required under Clause 41 of the Listing Agreement has been completed by the Statutory Auditors of the Company.

Domestic

568.78

524.45

8.5%

2511.32

2278.95

10.2%

Exports

Formulations

613.93

555.27

10.6%

2318.76

2161.91

7.3%

APIs & others

146.30

168.94

-13.4%

580.17

580.78

-0.1%

Total Exports

760.23

724.21

5.0%

2898.93

2742.69

5.7%

% of exports to total sales

57.2%

58.0%

53.6%

54.6%

Total Sales

1329.01

1248.65

6.4%

5410.25

5021.64

7.7%

Other operating income

Technology knowhow/fees

13.55

99.89

160.29

217.75

Others

43.65

27.64

111.63

78.67

Total

57.20

127.53

-55.2%

271.92

296.42

-8.3%

Income from Operations

1386.21

1376.19

0.7%

5682.17

5318.06

6.8%

610.82

566.52

2481.79

2366.67

% to total sales

46.0%

45.4%

45.9%

47.1%

257.99

349.15

-26.1%

1360.23

1036.13

31.3%

% to income from operations

18.6%

25.4%

23.9%

19.5%

348.13

295.67

17.7%

1330.51

901.31

47.6%

% to income from operations

25.1%

21.5%

23.4%

16.9%

275.53

252.92

8.9%

1082.01

776.81

39.3%

% to income from operations

19.9%

18.4%

19.0%

14.6%