DRIVIN G ROWTH - Dr. Reddy's

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138 auditors’ report to the board of directors of dr. reddy’s laboratories limited on the consolidated financial statements and consolidated cash flow of dr. reddy’s laboratories limited and its subsidiaries 1. We have examined the attached Consolidated Balance Sheet of Dr. Reddy’s Laboratories Limited (“the Company”) and its subsidiaries as at March 31, 2002, and the Consolidated Profit and Loss account for the year then ended. 2. These consolidated financial statements are the responsibility of Dr. Reddy’s Laboratories Limited’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards in India. These Standards require that we plan and perform the audit to obtain reasonable assurance whether the consolidated financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework and are free of material misstatements. An audit includes, examining on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion. 3. We report that: a) the consolidated financial statements have been prepared by the Company in accordance with the requirements of Accounting Standard (AS) 21, Consolidated Financial Statements, issued by the Institute of Chartered Accountants of India (ICAI), and b) this being the first year of preparation of consolidated financial statements, the opening balances as at April 1, 2001 have not been audited by us. Accordingly, we express no opinion or any other form of assurance on such opening balances. 4. On the basis of the information and explanations given to us and subject to our observation in paragraph 3(b) stated above, we are of the opinion that: a) the Consolidated Balance Sheet gives a true and fair view of the consolidated state of affairs of Dr. Reddy’s Laboratories Limited and its subsidiaries as at March 31, 2002; and b) the Consolidated Profit and Loss Account gives a true and fair view of the consolidated results of operations of Dr. Reddy’s Laboratories Limited and its subsidiaries for the year then ended. 5. We have also examined the attached Consolidated Cash Flow Statement of Dr. Reddy’s Laboratories Limited and its subsidiaries for the year ended March 31, 2002. This statement has been prepared in accordance with the requirements of the AS 21, Consolidated Financial Statements and AS 3, Cash Flow Statements issued by the ICAI and is based on and in agreement with the Consolidated Profit and Loss Account and Consolidated Balance Sheet read with note 3(b) above. For BHARAT S RAUT & CO. For A RAMACHANDRA RAO & CO. Chartered Accountants Chartered Accountants PRADIP KANAKIA A RAMACHANDRA RAO Partner Partner Hyderabad June 4, 2002 CONSOLIDATED FINANCIALS | FINANCIALS | ANNUAL REPORT 2001-2002
consolidated balance sheet | (All amounts in Indian Rupees thousands, except share data) Schedule As at March 31, 2002 sources of funds SHAREHOLDERS’ FUNDS Share capital 1 382,580 Reserves and surplus 2 13,731,351 14,113,931 Minority interest 20(6) 96,937 LOAN FUNDS Secured loans 3 70,903 Unsecured loans 4 103,795 174,698 14,385,566 application of funds FIXED ASSETS 5 Gross block 6,424,645 Less: Accumulated depreciation (2,348,018) Net block 4,076,627 Capital work-in-progress (including capital advances) 581,259 4,657,886 INVESTMENTS CURRENT ASSETS, LOANS AND ADVANCES 6 29,978 Inventories 7 2,202,391 Sundry debtors 8 4,049,243 Cash and bank balances 9 5,123,238 Loans and advances 10 945,804 Long-term deposits CURRENT LIABILITIES AND PROVISIONS 20(16) 113,750 12,434,426 Current liabilities 11 2,158,363 Provisions 12 281,029 2,439,392 NET CURRENT ASSETS 9,995,034 Deferred tax asset 20(7) 68,955 Deferred tax liability 20(7) (366,287) MISCELLANEOUS EXPENDITURE (to the extent not written-off or adjusted) 13 – 14,385,566 Notes to accounts 20 The schedules referred to above form an integral part of the Balance Sheet As per our report attached. For DR. REDDY’S LABORATORIES LIMITED For BHARAT S RAUT & CO. DR. K ANJI REDDY Chairman Chartered Accountants G V PRASAD Executive Vice Chairman & CEO PRADIP KANAKIA K SATISH REDDY Managing Director & COO Partner DR. OMKAR GOSWAMI Director For A RAMACHANDRA RAO & CO. V S VASUDEVAN Chief Financial Officer Chartered Accountants A RAMACHANDRA RAO Partner Hyderabad June 4, 2002 SANTOSH KUMAR NAIR Company Secretary CONSOLIDATED FINANCIALS | FINANCIALS | ANNUAL REPORT 2001-2002 139
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DRIVIN G ROWTH Dr. Reddy’s Labora
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sales of branded formulations grew
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THE ULTIMATE ACCOLADE FOR A PHARMAC
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IT TAKES COURAGE AND VISION TO LOOK
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1997 Entered: Phase I clinical tria
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1987 USFDA Inspection: Ibuprofen fa
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1999 Submitted: ANDA for Omeprazole
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1995 Established: Reddy- Biomed; ou
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ARMED WITH A HIGHLY MOTIVATED AND C
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K ILO L AB FACILITY at Technology D
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SHE PRACTICES HAVE EVOLVED FROM AN
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ADOPTING A COMPETENCY-BASED FRAMEWO
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THE HIGHEST PATRIOTISM AND PHILANTH
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AFTER AN HOUR AT ROSHNI I LEFT WITH
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and valuation THE DICTUM in any kno
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total shareholder’s return “TOT
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4,585,070 equity shares of erstwhil
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REDDY PHARMACEUTICALS HONG KONG LTD
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Pathway enables Reddy US Therapeuti
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AUDITORS THE AUDIT in the financial
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2.Benefits derived as a result of t
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Table B | Technology, absorption, a
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articulation of its corporate visio
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THE LAUNCH OF FLUOXETINE HAS BEEN T
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MUCH OF THE CASH FLOW ARISING OUT O
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WITH THE ANTICIPATED GROWTH IN THE
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CHART B NCE Pipeline Diabetes DRF N
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AURIGENE WILL BUILD SKILLS IN AUTOM
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The highlights of the scheme were:
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INVESTMENTS INVESTMENTS reduced to
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Rs. 108 million (US$ 2.25 million)
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THE STRENGTH OF INDIA’S SCIENTIFI
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internal accounting, administrative
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e disproportionately distributed in
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COMPOSITION AND MEETINGS OF THE BOA
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Table 2 | Remuneration of the direc
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(iii) Ms. G Anuradha (daughter of D
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increase speed of reporting and cre
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the Committee. The Investment Commi
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MANAGEMENT DISCUSSION AND ANALYSIS
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non-executive, independent Addition
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press releases and conducts program
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Page 87 and 88: Media Bhaswati Banerjee / R. Rammoh
Page 89 and 90: CODES AT VARIOUS STOCK EXCHANGES Th
Page 91 and 92: EQUITY HISTORY OF THE COMPANY Table
Page 93 and 94: SHAREHOLDING PATTERN AS ON MARCH 31
Page 95 and 96: dematerialised form may contact the
Page 97 and 98: UNCLAIMED DIVIDENDS Pursuant to sec
Page 99 and 100: generics Survey No. 41 Bachupally Q
Page 101 and 102: financials 103
Page 103 and 104: annexure to the auditors’ report
Page 105 and 106: alance sheet | AS AT MARCH 31 (All
Page 107 and 108: schedules to the balance sheet | (A
Page 117 and 118: schedules to the profit and loss ac
Page 119 and 120: schedule to the balance sheet and p
Page 131 and 132: cash flow statement | YEAR ENDED MA
Page 133 and 134: auditors’ certificate To The Boar
Page 135: consolidated financials
Page 139 and 140: schedules to the consolidated balan
Page 145 and 146: schedules to the consolidated profi
Page 147 and 148: schedule to the consolidated balanc
Page 161 and 162: cash flow statement | (contd...) YE
Page 163 and 164: statement under section 212
Page 165 and 166: The net Aggregate of profits (losse
Page 167 and 168: drl investments ltd.
Page 169 and 170: auditors’ report A RAMACHANDRA RA
Page 171 and 172: alance sheet | AS Schedule 2002 200
Page 173 and 174: schedules | AS AT MARCH 31 (Rs) 200
Page 175 and 176: schedules Schedule - 3.00 NOTES TO
Page 177 and 178: compact electric ltd.
Page 179 and 180: auditors’ report A RAMACHANDRA RA
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schedules | FOR THE YEAR ENDED MARC
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schedules 7. The information requir
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alance sheet abstract and company
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eddy pharmaceuticals hong kong ltd.
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eport of the auditors ERNST & YOUNG
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profit and loss account | YEAR ENDE
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notes to financial statements - DEC
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notes to financial statements - DEC
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eddy biomed ltd.
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eport of sinay joint-stock company
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alance sheet | AS AT DECEMBER 31 (R
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eddy antilles n.v.
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alance sheet | AS AT DECEMBER 31 (U
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notes to the financial statements G
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dr. reddy’s farmacêutica do bras
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dr. reddy’s laboratories, inc.
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alance sheet | AS AT MARCH 31 (US $
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statement of cash flows | FOR THE Y
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notes to the financial statements n
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notes to the financial statements n
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eddy pharmaceuticals singapore pte
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9. DIVIDENDS No dividend has been p
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eport of the auditors to the member
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profit and loss statement | FOR sta
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notes to the financial statements -
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notes to the financial statements -
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eddy us therapeutics, inc
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alance sheet | AS AT MARCH 31 (US $
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statement of cash flows | FOR THE Y
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notes to financial statements 2.REL
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eddy cheminor s.a.
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alance sheet | Euros March 31, Fisc
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profit and loss account | FOR THE Y
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accounting rules and methods Annexe
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depreciation | AS Categories A Posi
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ageing analysis of debts receivable
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details of charges to be paid | AS
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effect of different fiscal provisio
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B - Agreements with Mr Luc Lamiraul
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cheminor investments ltd.
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auditors’ report A RAMACHANDRA RA
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alance sheet | AS AT MARCH 31 Parti
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schedules forming part of balance s
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alance sheet abstract and company
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aurigene discovery technologies ltd
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Acknowledgements The Directors take
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annexure to the auditors’ report
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profit and loss account | FOR EXPEN
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schedules forming part of the profi
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schedules forming part of the balan
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zenovus biotech pvt. ltd.
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auditors’ report A RAMACHANDRA RA
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kunshan rotam reddy pharmaceutical
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alance sheet | AS AT DECEMBER 31 (R
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income statement | FOR THE YEAR END
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notes to the financial statements 5
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eddy netherlands b.v.
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alance sheet | AS AT DECEMBER 31 (I
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general notes GENERAL COMMENTS The
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notice
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The remuneration payable by way of
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Item No. 9 The Company had appointe
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DRIVIN G ROWTH - Dr. Reddy's

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