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Balance Sheet (All amounts in millions of Indian Rupees, unless otherwise stated) Schedule As at 31 March 2011 As at 31 March 2010 I. SOURCES OF FUNDS 1. SHAREHOLDERS’ FUNDS a) Capital 1 270.27 269.84 b) Reserves and surplus 2 19,527.14 17,428.11 19,797.41 17,697.95 2. LOAN FUNDS a) Secured loans 3 1,601.32 486.40 b) Unsecured loans 4 9,861.14 7,111.15 11,462.46 7,597.55 3. FOREIGN CURRENCY MONETARY ITEM TRANSLATION - 36.21 DIFFERENCE ACCOUNT (Note 4 of Schedule 21) 4. DEFERRED TAX LIABILITY 5 330.57 327.71 TOTAL 31,590.44 25,659.42 II. APPLICATION OF FUNDS 1. FIXED ASSETS 6 a) Gross block 3,626.94 3,086.29 b) Less: Depreciation/amortisation 1,389.15 1,182.21 c) Net block 2,237.79 1,904.08 d) Capital work-in-progress 399.43 468.83 2,637.22 2,372.91 2. INVESTMENTS 7 10,412.47 9,929.20 3. DEFERRED TAX ASSETS 8 101.27 96.73 4. CURRENT ASSETS, LOANS AND ADVANCES a) Inventories 9 1,570.07 1,503.98 b) Sundry debtors 10 1,893.44 3,300.92 c) Cash and bank balances 11 309.49 50.77 d) Loans and advances 12 16,919.38 10,511.14 20,692.38 15,366.81 LESS: CURRENT LIABILITIES AND PROVISIONS a) Current liabilities 13 2,054.90 1,910.41 b) Provisions 14 198.00 195.82 2,252.90 2,106.23 NET CURRENT ASSETS 18,439.48 13,260.58 TOTAL 31,590.44 25,659.42 NOTES TO THE FINANCIAL STATEMENTS 21 Schedules referred to above and notes attached thereto form an integral part of the Balance Sheet. This is the Balance Sheet referred to in our report of even date. For Walker, Chandiok & Co. Chartered Accountants For and on behalf of the Board of Directors Khushroo B. Panthaky Glenn Saldanha Cheryl Pinto Partner Chairman & Managing Director Director Place: Mumbai Date: 10 May 2011 Marshall Mendonza Vice President - Legal & Company Secretary 52 GLENMARK PHARMACEUTICALS LIMITED
Profit and Loss Account (All amounts in millions of Indian Rupees, unless otherwise stated) Year ended 31 March 2011 Year ended 31 March 2010 Schedule INCOME Sales and operating income 15 12,122.48 10,296.87 Less: Excise duty 108.95 77.76 Sales tax 478.02 388.83 Net sales and operating income 11,535.51 9,830.28 Other income 16 314.72 91.90 11,850.23 9,922.18 EXPENDITURE Cost of sales 17 3,914.14 3,263.93 Selling and operating expenses 18 4,288.09 4,473.21 Depreciation/amortisation 6 209.88 212.78 Interest (net) 19 360.82 301.58 Research and development expenses 20 569.20 460.55 9,342.13 8,712.05 PROFIT BEFORE TAX 2,508.10 1,210.13 Provision for taxation [Refer Note 10 of Schedule 21] - Current year [includes wealth tax provision ` 0.17 (Previous Year - ` 0.20)] 674.15 247.49 - MAT Credit (entitlement)/utilisation (286.15) (229.80) - Deferred tax credit (1.68) (92.19) NET PROFIT AFTER TAX 2,121.78 1,284.63 Balance profit brought forward 8,511.12 7,480.98 NET PROFIT AVAILABLE FOR APPROPRIATION 10,632.90 8,765.61 Proposed dividend on equity shares 108.11 107.94 Tax on proposed dividend on equity shares 17.96 17.93 Residual dividend and dividend tax 0.50 0.16 Transfer to general reserve 212.19 128.46 BALANCE CARRIED TO BALANCE SHEET 10,294.14 8,511.12 Earnings per share (`) [Refer Note 5 of Schedule 21] Basic 7.86 4.93 Diluted 7.85 4.92 Face value per share (in `) 1.00 1.00 NOTES TO THE FINANCIAL STATEMENTS 21 Schedules referred to above and notes attached thereto form an integral part of the Profit and Loss Account. This is the Profit and Loss Account referred to in our report of even date. For Walker, Chandiok & Co. Chartered Accountants For and on behalf of the Board of Directors Khushroo B. Panthaky Glenn Saldanha Cheryl Pinto Partner Chairman & Managing Director Director Place: Mumbai Date: 10 May 2011 Marshall Mendonza Vice President - Legal & Company Secretary Annual Report 2010-2011 53
Page 35 and 36: Profiles of Directors Mr. Gracias S
Page 37 and 38: DIRECTORS Mr. D. R. Mehta, Mrs. B.
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Page 41 and 42: ANNEXURE - B Disc losure in the Dir
Page 43 and 44: Report on Corporate Governance Purs
Page 45 and 46: 5. Shareholders’/Investors’ Gri
Page 47 and 48: Distribution Schedule as on 31 Marc
Page 49 and 50: Market Price Data: High, low during
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Page 53 and 54: Auditors’ Report To, The Members
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Page 59 and 60: Cash Flow Statement (All amounts in
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Page 81 and 82: Additional information as required
Page 83 and 84: Consolidated Statement of Financial
Page 85 and 86: Consolidated Statement of Comprehen
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Page 91 and 92: The Group’s internal drug develop
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NOTE Y - SEGMENT REPORTING The Chie
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The Group’s trade and other recei
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As at 31 March 2011, the Group’s
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Depreciation Further, depreciation
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GLENMARK PHARMACEUTICALS LIMITED Re
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