DRIVIN G ROWTH - Dr. Reddy's

250
audit report
FOR THE PERIOD ENDING MARCH 31, 2002
Dear Shareholders,
In execution of the assignment entrusted to us by your Assemblêe Gênêrale of September 29, 2000, we are pleased to present our
report of:
– the audited Financial Statements of REDDY CHEMINOR S.A. as appended to the present report,
– the specific verifications required by law, relating to the accounting period ending March 31, 2002.
The annual statements have been duly approved by the Board of Directors. Based on the audit carried out by us, we express our
opinion on these statements.
I OPINION ON ANNUAL FINANCIAL STATEMENTS
We have carried out our audit in compliance with the standards of the profession. These standards require due diligence to be
exercised to gain reasonable assurance that the annual statements do no include any significant anomalies. An audit consists in
examining, with the aid of samples, the elements of audit evidence justifying the data contained in these statements. It also involves
assessing th accounting principles used and estimations chosen in the closing of accounts together with an overall assessment of the
manner in which these elements are presented. We consider that our controls form a reasonable basis for the opinion expressed here
below.
We certify that the annual statements are in order and fairly present the result of the operations for the period ended, and the financial
position and assets of the Company at the close of this accounting period.
Balance sheet total :
Euros
3,476,338
Income statement total : 8,058,024
Profit : 124,929
II SPECIFIC VERIFICATIONS AND INFORMATION
We have also performed, in accordance with the standards of the profession, the specific verifications provided for by law.
We have no comments to make concerning the fairness, and agreement with annual statements, of the information provided both
in the Minutes of the Supervisory Board’s Meeting and in the documents addressed to the stockholders concerning the financial
position and the annual statements.
In accordance with section 243A of the tax code, we hereby inform you that dividends have been distributed for the three last financial
years.
Years Dividends paid per share Tax credit per share
1998 / 1999 – –
1999 / 2000 8 Euros 4 Euros
2000 / 2001 16 Euros 8 Euros
REDDY CHEMINOR S.A. | FINANCIALS | ANNUAL REPORT 2001-2002
On behalf of the Commissariat et Audit Co.
A French audit company
registered with the Versailles Appeals Court
Corporate representative and technical manager
Yannick LURIENNE
registered with the Versailles Court of Appeals
56, rue du Grand Faubourg
Chartres 28000 Chartres
May 6, 2002 France