1

Gross Sales & Income from Operations

895.63

569.54

3105.22

2400.87

Less: Excise Duty

25.04

34.56

119.50

146.37

Net Sales & Income from Operations

870.59

534.98

2985.72

2254.50

2

Other Income

46.76

15.45

131.10

81.98

3

Total Expenditure

a) (Increase)/decrease in
     Stock-in-trade

(14.16)

(51.72)

(84.08)

(66.87)

b) Consumption of Materials

445.41

273.58

1508.44

1161.56

c) Staff Cost

42.57

32.09

147.30

116.58

d) Other Expenditure

216.47

144.14

747.66

547.92

4

Interest

3.29

1.01

11.42

7.63

5

Depreciation

25.00

14.75

83.00

55.05

6

Profit (+)/Loss (-) before Tax
(1+2-3-4-5)

198.77

136.58

703.08

514.61

7

7.00
-
1.00

24.25
6.75
-

89.05
9.75
4.20

82.00
23.00
-

8

Net Profit (+) / Loss (-) after Tax (6-7)

190.77

105.58

600.08

409.61

9

Paid-up Equity Share Capital

59.97

59.97

59.97

59.97

10

Reserves excluding Revaluation Reserves

 

1483.60

11

Earning per Share (Rs.)
*Not Annualised

*6.36

*3.52

20.01

13.66

12

Aggregate of Non-Promoter
Shareholding
- Number of Shares
- Percentage of Shareholding

177095533
59.06

177070533
59.05

177095533
59.06

1. The Company is exclusively in the pharmaceutical business segment.
2. The figures of the previous year have been recast/regrouped to render them comparable with the figures of the current year.
3. No investor grievances were pending at the beginning of the quarter. During the quarter ended 31st March, 2006, seven investor grievances were received and have been suitably replied to.
4. In April 2006, the Company has raised US$ 170 million (Rs. 762.20 crores) through an issue of 1,10,46,310 Global Depository Receipts (GDRs). Each GDR represents one equity share of Rs.2 each and was priced at US$ 15.39 (equivalent to Rs.690). The said GDRs have been listed on the Luxembourg Stock Exchange and the Company has already applied to Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) for having the underlying shares listed.
5. The Board of Directors recommended the issue of bonus shares in the ratio of three shares for every two shares held and the shareholders have approved the same through a postal ballot on 21st March, 2006.The record date for determining the members who are entitled to the bonus shares is 25th April, 2006.
6. Consequent to the issue of GDRs and bonus shares as stated in (4) and (5) above, the paid-up equity share capital will stand increased to Rs. 155.46 crores.
   
7. The Company had challenged the inclusion of the drugs - Salbutamol, Theophylline, Ciprofloxacin and Norfloxacin within the ambit of price control. The petition filed by the Company had been decided in favour of the Company by the Bombay High Court, which held that the said drugs were outside the ambit of price control. However, on an appeal filed by the government, the Supreme Court has remanded the matter to the Bombay High Court for further and more detailed examination in the light of the principles laid down by the Supreme Court. The Supreme Court had also permitted the government to recover 50% of the amount that they had claimed was overcharged. The government had sent notices to the Company demanding an aggregate of Rs.180.37 crores in respect of the said drugs, which according to them was 50% of the amount allegedly overcharged by the Company till July 2003. Subsequently, in separate proceedings the Allahabad High Court had ruled that the prices fixed by the government in respect of the said drugs were illegal and void. On an appeal filed by the government against this ruling, the Supreme Court has stayed the judgment of the Allahabad High Court. Further, the Supreme Court has directed that no coercive action shall be taken against the Company till the appeal is finally decided. The Company has received legal advice that the demand notices of the government are not sustainable.
   
8. Other income includes Rs.19.70 crores being the amount settled during the quarter against insurance claims relating to losses on account of floods. The total amount of such claims settled during the year aggregated to Rs.92.42 crores. These claims were mainly under Declared Value Policies in respect of damage to finished goods at the Company's Bhiwandi godown caused by the floods in July 2005. The total cost of the said finished goods cannot be precisely determined in view of the impact of common and unallocable expenses. Consequently, the full amount of claims received has been accounted as other income.
   
9. The above results after being reviewed by the Audit Committee were approved and taken on record at the meeting of the Board of Directors held on 25th April, 2006.

56.4%

 

30.4%

190.3%

63.7%

60.7%

-19.9%

57.3%

31.7%

45.5%

80.7%