DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
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36<br />
directors’ report<br />
The employees’ stock options scheme of<br />
the Company provides for grant of options<br />
at a price not less than previous thirty days’<br />
weighted average price of the equity shares<br />
of the Company on the stock exchange, on<br />
the date of the grant.<br />
No options have been vested in the<br />
employees and hence no options were<br />
exercised during the year. The total number<br />
of options in force as on March 31, 2002<br />
was 1,24,500.<br />
review of the subsidiary<br />
performance<br />
AURIGENE DISCOVERY<br />
TECHNOLOGIES LTD.<br />
AURIGENE DISCOVERY Technologies<br />
Limited has been incorporated during the<br />
year and is being positioned as a partner to<br />
pharmaceutical and biotechnology<br />
companies and will help them to address<br />
their constraints and needs in the drug<br />
discovery process. The Company aims to be<br />
a global discovery support organisation. The<br />
Company is in the process of establishing its<br />
facilities in Bangalore and Boston.<br />
ZENOVUS BIOTECH PRIVATE LTD.<br />
ZENOVUS BIOTECH Private Ltd. is a<br />
wholly owned subsidiary involved in<br />
building a technology platform for<br />
DR. REDDY’S LABORATORIES LTD. | DIRECTORS’ REPORT | ANNUAL REPORT 2001-2002<br />
monoclonal antibodies. The Company is yet<br />
to commence operations on a commercial<br />
scale.<br />
COMPACT ELECTRIC LTD.<br />
COMPACT ELECTRIC Ltd. recorded a<br />
turnover of Rs. 94,442 thousands for the<br />
year ended March 31, 2002 as against<br />
Rs. 60,789 thousands for the year ended<br />
March 31, 2001, an increase of 55.4%. Net<br />
loss for the year was Rs. 7,810 thousands as<br />
compared to Rs. 8,374 thousands for the<br />
previous year ended March 31, 2001. The<br />
Company has generated cash profits for<br />
both the years.<br />
DRL INVESTMENTS LTD.<br />
DRL INVESTMENTS LTD. is a wholly<br />
owned subsidiary of our Company. For the<br />
current financial year, the Company has<br />
incurred a loss of Rs. 21 thousands as<br />
against Rs. 20 thousands for the<br />
corresponding previous year.<br />
CHEMINOR INVESTMENTS LTD.<br />
CHEMINOR INVESTMENTS Ltd.<br />
incurred a loss of Rs. 2 thousands for the<br />
year ended March 31, 2002 as compared to<br />
a loss of Rs. 3 thousands for the previous<br />
year ended March 31, 2001.
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