DRIVIN G ROWTH - Dr. Reddy's

4,585,070 equity shares of erstwhile
American Remedies Ltd. held by the
Company stand extinguished. The shares of
erstwhile American Remedies Ltd., which
were not held by the Company, were
exchanged with the shares of the Company
during the year.
EQUITY SHARE CAPITAL
DURING THE YEAR, the Company
issued 6,612,500 equity shares of Rs. 10/each
as underlying shares to ADRs.
The Company also completed the
exchange of shares with the erstwhile
American Remedies Ltd. that merged with
the Company with retrospective effect from
April 1, 1999. Pursuant to the scheme of
merger 56,694 equity shares of Rs. 10/were
issued to the shareholders of erstwhile
American Remedies Ltd. on September 24,
2001. The ratio of exchange was one share
of the Company for every twelve shares in
erstwhile American Remedies Ltd.
Pursuant to the resolution passed by the
shareholders at the 17th annual general
meeting, 50,000,000 equity shares of
Rs. 10/- each were sub divided into
100,000,000 equity shares of Rs. 5/- each
w.e.f. October 25, 2001.
MANAGEMENT DISCUSSION AND
ANALYSIS
A DETAILED DISCUSSION on the
industry structure, development,
opportunities, threats, review of operational
performance and risks is forming part of
this report and is annexed herewith.
ADDITIONAL INFORMATION TO
SHAREHOLDERS
AS IN EARLIER YEARS intangible
valuation, corporate governance, and share
related information is provided for in the
annual report.
EMPLOYEE STOCK OPTIONS
SCHEME
PURSUANT TO THE RESOLUTION
passed at the 17th annual general meeting of
the Company held on September 24, 2001,
the Board constituted a Compensation
Committee to administer the employees’
stock option scheme of the Company.
The Compensation Committee, at its
meeting held on January 29, 2002 allotted
options to the following employees:
SR. NO. NAME NO. OF OPTIONS GRANTED
1 Timothy Crew 44,500
2 Cameron Reid 50,000
3 Andrew J Miller 30,000
Total Options granted 1,24,500
DR. REDDY’S LABORATORIES LTD. | DIRECTORS’ REPORT | ANNUAL REPORT 2001-2002
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