DRIVIN G ROWTH - Dr. Reddy's

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200 cash flow statement | AS AT DECEMBER 31 US$ Note 2001 2000 NET CASH INFLOW FROM OPERATING ACTIVITIES 11 149,304 438,716 RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Interest received 31,636 38,284 Dividend paid Net cash inflow from returns on investments (15,000) (45,000) and servicing of finance 16,636 (6,716) INVESTING ACTIVITIES Repayment of a part of long-term loan – (1,000,000) Net cash outflow from investing activities – (1,000,000) INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENT 165,940 (568,000) Cash and cash equivalents at beginning of year 457,067 1,025,067 CASH AND CASH EQUIVALENTS AT END OF YEAR 623,007 457,067 REDDY PHARMACEUTICALS HONG KONG LTD. | FINANCIALS | ANNUAL REPORT 2001
notes to financial statements – DECEMBER 31, 2001 1. PRINCIPAL ACCOUNTING POLICIES Inventories Inventories are stated at the lower of cost and net realisable value. Cost is determined on the first-in, first-out basis. Net realisable value is based on estimated selling prices less any estimated costs to be incurred to completion and disposal. Foreign currency transactions The Company’s financial records are maintained and the financial statements stated in United States Dollars. Foreign currency transactions are recorded at the applicable rates of exchange ruling at the transaction dates. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are translated at the applicable market rates of exchange ruling at that date. Exchange differences are dealt with in the Profit and Loss Account. Revenue recognition Revenue is recognised when it is probable that the economic benefits will flow to the Company as and when the revenue can be measured reliably on the following bases: (a) on the sale of goods, when the significant risks and rewards of ownership have been transferred to the buyer, provided that the Company maintains neither managerial involvement to the degree usually associated with ownership, nor effective control over the goods sold; and (b) interest income on a time proportion basis. Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. Cash equivalents For the purpose of the cash flow statement, cash equivalents represent short term highly liquid investments which are readily convertible into known amounts of cash and which were within three months of maturity when acquired, less advances from banks repayable within three months from the date of the advance. For the purpose of Balance Sheet classification, cash at bank represent assets which are not restricted as to use. 2. CORPORATE AFFILIATION AND RELATED PARTY TRANSACTIONS The Company is a wholly-owned subsidiary of <strong>Dr</strong>. Reddy‘s Laboratories Limited, a Company incorporated in India, which is considered by the Directors to be the Company‘s ultimate holding Company. The registered office of Reddy Pharmaceuticals Hong Kong Limited is 11/F, Tower 2, The Gateway, 25-27 Canton Road, Tsimshatsui, Kowloon, Hong Kong. A portion of the Company’s business is represented by transactions to which other members of the <strong>Dr</strong>. Reddy’s Laboratories Limited group are parties and these financial statements reflect the effect of these transactions on the bases determined within the group. The significant transactions are summarised below: US$ 2001 2000 Agency income received from holding company – 2,350 Purchases of goods from holding company 4,201,529 1,789,253 The balances with related companies as at December 31, 2001 are listed as follows: Holding company (1,336,581) 399,323 Related companies 632,361 547,141 (704,220) 946,464 REDDY PHARMACEUTICALS HONG KONG LTD. | FINANCIALS | ANNUAL REPORT 2001 201
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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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We state that no investor grievance
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Media Bhaswati Banerjee / R. Rammoh
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CODES AT VARIOUS STOCK EXCHANGES Th
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EQUITY HISTORY OF THE COMPANY Table
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SHAREHOLDING PATTERN AS ON MARCH 31
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dematerialised form may contact the
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UNCLAIMED DIVIDENDS Pursuant to sec
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generics Survey No. 41 Bachupally Q
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financials 103
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annexure to the auditors’ report
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alance sheet | AS AT MARCH 31 (All
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schedules to the balance sheet | (A
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schedules to the profit and loss ac
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schedule to the balance sheet and p
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cash flow statement | YEAR ENDED MA
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auditors’ certificate To The Boar
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consolidated financials
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consolidated balance sheet | (All a
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schedules to the consolidated balan
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schedules to the consolidated profi
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Page 173 and 174: schedules | AS AT MARCH 31 (Rs) 200
Page 175 and 176: schedules Schedule - 3.00 NOTES TO
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Page 181 and 182: alance sheet | AS Schedule 2002 200
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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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