DRIVIN G ROWTH - Dr. Reddy's

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auditors’ report
AUDITORS’ REPORT TO THE BOARD OF DIRECTORS OF
KUNSHAN ROTAM REDDY PHARMACEUTICAL CO. LTD.
We have accepted the appointment to audit the Company’s balance sheet as at December 31, 2001, its Profit and Loss Account and
cash flow statement for the year then ended. The Company is responsible for the financial statements. Our responsibility is to express
an audit opinion on the financial statements. Our audit was conducted in accordance with China Certified Public Accountants
Independent Auditing Standards and consequently included such auditing procedures as were considered necessary and appropriate
to the Company’s circumstances, including examination, on a test basis, of the Company’s transactions and accounting records.
In our opinion the financial statements of the Company present fairly, in all material respects, the financial position of the Company
at December 31, 2001 and its results and cash flows for the year then ended in accordance with the Accounting Standards for
Enterprises and the Accounting Regulations of the People’s Republic of China for Enterprises with Foreign Investment. The accounting
Policies used in the preparation of the financial statements for the year are consistent with those used in the preceding year.
KunShan, China KUNSHAN GONGXIN
February 5, 2002 Certified Public Accountants
KUNSHAN ROTAM REDDY PHARMACEUTICAL CO. LTD. | FINANCIALS | ANNUAL REPORT 2001