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Schedules annexed to and forming part of the Balance Sheet (All amounts in millions of Indian Rupees, unless otherwise stated) As at 31 March 2011 As at 31 March 2010 1. CAPITAL Authorised 350,000,000 (2010 - 350,000,000) Equity Shares of ` 1 each 350.00 350.00 4,000,000 (2010 - 4,000,000) Cumulative Redeemable Non-convertible Preference Shares of ` 100 each 400.00 400.00 Issued, subscribed and paid-up 270,272,053 (2010 - 269,837,553) Equity Shares of ` 1 each 270.27 269.84 TOTAL 270.27 269.84 Note: 1. During the year ended 31 March 2011 the Company, pursuant to Employee Stock Option Scheme 2003, has granted 227,000 (2010 - 236,500) options at market price as defined in SEBI (ESOS) Guidelines and cancelled 488,300 (2010 - 601,100) options. 2. During the year 434,500 (2010 - 604,860) options were converted into equity shares under the Employee Stock Option Scheme, 2003. As at 31 March 2011, 1,937,700 (2010 - 2,633,500) options were outstanding under Employee Stock Option Scheme 2003. On exercise of the options so granted under Employee Stock Option Scheme 2003, the paid-up Equity Share Capital of the Company will increase by a like number of shares. 3. On 18 September 2009, the Company allotted 18,712,935 equity shares of ` 1 each at a premium of ` 220/- per share to Qualified Institutional Buyers pursuant to Chapter VIII of the Securities Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulation 2009. 4. Of the above 158,371,140 (2010 - 158,371,140) equity shares of ` 1 each are allotted as fully paid-up bonus shares by capitalisation of reserves. As at 31 March 2011 As at 31 March 2010 2. RESERVES AND SURPLUS Securities premium account Balance at the beginning of the year 7,158.30 3,184.45 Add: Premium on issue of shares pursuant to conversion of Employee Stock Option Scheme (ESOS) 51.07 36.66 Add: Premium on issue of shares to Qualified Institutional Buyers (QIB) - 4,116.85 Less: Utilisation for - Issue expenses on issue of shares to QIB 10.64 65.83 Redemption premium of FCC Bonds (FCCB) 96.33 149.62 TDS on FCCB redemption premium 59.94 - Add: Tax impact on FCCB redemption premium and QIB expenses 219.66 35.79 Closing Balance 7,262.12 7,158.30 General Reserve Balance at the beginning of the year 1,557.69 1,429.23 Add: Transferred from profit and loss account 212.19 128.46 Closing Balance 1,769.88 1,557.69 Capital Redemption Reserve 200.00 200.00 Capital Reserve 1.00 1.00 Profit and Loss Account Balance 10,294.14 8,511.12 TOTAL 19,527.14 17,428.11 3. SECURED LOANS Note From banks Term loan 1 223.40 338.55 Working capital facilities 2 1,377.92 147.85 TOTAL 1,601.32 486.40 Note: 1. Term loan is secured by way of exclusive charge as the case may be, at certain locations, on Company’s fixed assets both present and future. 2. Working Capital Facilities is secured by hypothecation of stocks of raw materials, packing materials, finished goods, work-in-process, receivables and equitable mortgage on fixed assets at the manufacturing facility at Nasik and Research and Development centre at Sinnar, Nasik both present and future. 56 GLENMARK PHARMACEUTICALS LIMITED
Schedules annexed to and forming part of the Balance Sheet (All amounts in millions of Indian Rupees, unless otherwise stated) As at 31 March 2011 As at 31 March 2010 4. UNSECURED LOANS Note Short term loans from Banks 6,595.91 1,221.73 Other loans from Banks 1 3,234.00 4,481.73 Foreign Currency Convertible Bonds [Refer Note 15 of Schedule 21] - 1,354.20 Security Deposits 31.23 53.49 TOTAL 9,861.14 7,111.15 Note: 1. Repayable within one year ` 600 (2010 - ` 500) As at 31 March 2011 As at 31 March 2010 5. DEFERRED TAX LIABILITY Depreciation/Amortisation 330.57 309.90 FCC Bond/ECB Loan revaluation - 17.81 TOTAL 330.57 327.71 6. FIXED ASSETS As at 31 March 2010 GROSS BLOCK DEPRECIATION/AMORTISATION NET BLOCK Additions/ Transfer during the year Deductions/ Transfer As at 31 March 2011 As at 31 March 2010 For the year On Deductions As at 31 March 2011 As at 31 March 2011 As at 31 March 2010 Tangible assets Freehold land 48.47 2.58 - 51.05 - - - - 51.05 48.47 Leasehold land 31.25 53.34 - 84.59 2.28 0.61 - 2.89 81.70 28.97 Factory buildings 466.31 91.12 - 557.43 70.78 18.13 - 88.91 468.52 395.53 Other buildings and 206.94 1.08 (1.20) 206.82 27.61 3.36 - 30.97 175.85 179.33 premises Plant and machinery 295.47 126.06 - 421.53 61.48 17.81 - 79.29 342.24 233.99 Furniture and fittings 304.88 35.17 (0.30) 339.75 161.94 33.33 (0.20) 195.07 144.68 142.94 Equipments 1,181.96 229.24 (0.56) 1,410.64 440.29 87.59 (0.31) 527.57 883.07 741.67 Vehicles 36.14 0.95 (3.17) 33.92 18.26 5.00 (2.43) 20.83 13.09 17.88 Intangible assets Computer software 82.15 20.53 (14.19) 88.49 36.52 15.85 - 52.37 36.12 45.63 Brands 432.72 - - 432.72 363.05 28.20 - 391.25 41.47 69.67 TOTAL 3,086.29 560.07 (19.42) 3,626.94 1,182.21 209.88 (2.94) 1,389.15 2,237.79 1,904.08 Previous year 2,704.81 463.32 (81.85) 3,086.29 976.74 212.78 (7.31) 1,182.21 - - Capital work-in-progress (including capital advances) 399.43 468.83 Note: 1. Addition to Fixed assets includes Capital expenditure of ` 89.98 [2010 - ` 57.97] incurred at approved Research and Development centres. 2. Addition to assets include ` 10.96 (2010 - ` 7.49) being borrowing costs capitalised. Annual Report 2010-2011 57
Page 35 and 36: Profiles of Directors Mr. Gracias S
Page 37 and 38: DIRECTORS Mr. D. R. Mehta, Mrs. B.
Page 39 and 40: 3. Metformin ER Tablets 1000 mg 4.
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
Page 51 and 52: Certification by the Chief Executiv
Page 53 and 54: Auditors’ Report To, The Members
Page 55 and 56: (b) The dues outstanding in respect
Page 57 and 58: Profit and Loss Account (All amount
Page 59: Cash Flow Statement (All amounts in
Page 63 and 64: Schedules annexed to and forming pa
Page 81 and 82: Additional information as required
Page 83 and 84: Consolidated Statement of Financial
Page 85 and 86: Consolidated Statement of Comprehen
Page 87 and 88: Notes to Consolidated Financial Sta
Page 89 and 90: the foreign entity and translated i
Page 91 and 92: The Group’s internal drug develop
Page 93 and 94: Financial liabilities are recognise
Page 95 and 96: In those cases where the possible o
Page 97 and 98: NOTE B - BASIS OF CONSOLIDATION The
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Page 103 and 104: NOTE R - MATERIALS CONSUMED Materia
Page 105 and 106: Net compensated absence cost for th
Page 107 and 108: NOTE Y - SEGMENT REPORTING The Chie
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As at 31 March 2011, the Group’s
Page 113 and 114:
Depreciation Further, depreciation
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GLENMARK PHARMACEUTICALS LIMITED Re
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GLENMARK PHARMACEUTICALS LIMITED Re
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