DRIVIN G ROWTH - Dr. Reddy's

general notes
GENERAL COMMENTS
The Company was incorporated on February 20, 1997. The objects of the Company are to develop, acquire, hold and exploit
intellectual property in the widest sense of the word.
ACCOUNTING PRINCIPLES
The accounting principles applied remain unchanged from the previous year. Assets and liabilities are stated at their face value, except
when indicated otherwise. Balance Sheet items in foreign currency have been translated at year-end exchange rates (except when
indicated otherwise); Profit & Loss items in foreign currency have been translated at the rate of the transaction day. Differences arising
on translation have been hedged with the parent company.
CAPITAL & RESERVES
The authorised capital amounts to NLG 200,000 divided into 2,000 shares of NLG 100 par value each. As at year-end, 400 shares
were outstanding and fully paid-up
Movements in capital during the year 2001:
Share Capital Premium Reval./Legal Profit Undistributed
Reserve Reserve Profit
Starting balance 40,000 – – 633,344 (344,670)
Capital increase – – – – –
Revaluation – – – (344,670) 344,670
Dividends – – – – –
Net profit – – – – (79,111)
Year-end balance 40,000 – – 288,674 (79,111)
other information
DISTRIBUTION OF PROFIT
1. Pursuant to the Companies articles of incorporation, the distributable profits shall be at the disposal of the general meeting of
shareholders.
2. Interim dividends may be declared in anticipation of the expected profit for the financial year.
3. Dividends can be declared and paid only to the extent the Company’s distributable reserves will allow, as calculated in accordance
with Dutch law and accounting standards.
APPROPRIATION OF PROFIT
Management propose to add the year’s net results, after appropriate allocation to legal and revaluation reserves, to retained earnings,
profit reserve. Pending the decision thereon by the annual general meeting of shareholders the year’s result have been presented as
“Result for the year”.
REDDY NETHERLANDS B.V. | FINANCIALS | ANNUAL REPORT 2001-2002
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