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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 12. LOANS AND ADVANCES (unsecured, considered good unless otherwise stated) Advances recoverable in cash or kind or for value to be received Considered good 408.70 375.37 Considered doubtful 29.10 29.10 437.80 404.47 Provision for doubtful advances (29.10) (29.10) 408.70 375.37 Advances to subsidiaries [Refer Note 14(a) of Schedule 21] 15,237.96 9,278.59 Advances to vendors 207.26 104.28 Advance tax 247.80 234.14 MAT Credit Entitlement [Refer Note 10 of Schedule 21] 518.45 232.30 Balance with Excise authorities 169.54 163.81 Deposits 129.67 122.65 TOTAL 16,919.38 10,511.14 13. CURRENT LIABILITIES Acceptances 412.70 494.72 Sundry creditors [Refer Note 8 of Schedule 21] - Total outstanding dues to Micro enterprises and small enterprises - - - Total outstanding dues to creditors other than Micro enterprises and small enterprises 1,344.02 791.80 Investor education and protection fund shall be credited by - Unclaimed dividend 3.66 3.12 [There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.] Advances from customers 48.39 - Payable to subsidiaries [Refer Note 14(c) of Schedule 21] 26.74 6.49 Other Liabilities 216.79 164.62 Interest accrued but not due 2.60 449.66 TOTAL 2,054.90 1,910.41 14. PROVISIONS Proposed dividend 108.11 107.94 Tax payable on proposed dividend 17.96 17.93 Provision for wealth tax 0.27 0.25 Provision for income tax 20.53 29.44 Provision for gratuity and leave encashment [Refer Note 11 of Schedule 21] 51.13 40.26 TOTAL 198.00 195.82 60 GLENMARK PHARMACEUTICALS LIMITED
Schedules annexed to and forming part of the Profit and Loss Account (All amounts in millions of Indian Rupees, unless otherwise stated) Year ended 31 March 2011 As at 31 March 2010 15. SALES AND OPERATING INCOME [Refer Note 13(b) of Schedule 21] Sale of goods 12,105.76 10,281.58 Income from services 16.72 15.29 TOTAL 12,122.48 10,296.87 16. OTHER INCOME Dividend received on non trade Investments - 0.08 Exchange gain (net) 203.20 - Export Incentive 83.07 48.57 Provision for doubtful advances written back - 0.70 Guarantee commission 11.21 26.06 Miscellaneous income 17.24 16.49 TOTAL 314.72 91.90 17. COST OF SALES Salary, wages, bonus and allowances 201.78 143.39 Contribution to Provident and other funds 8.12 5.05 Labour charges 148.32 148.25 Consumption of raw and packing materials [Refer Note 13(d) and (e) of Schedule 21] 2,379.86 2,002.79 Purchase of Traded goods [Refer Note 13(c) of Schedule 21] 871.58 841.50 Excise duty (34.47) (1.84) Power, fuel and water charges 93.15 61.24 Consumption of stores and spares [Refer Note 13(e) of Schedule 21] 59.52 42.27 Repairs and maintenance - Plant and Machinery 27.04 21.09 Repairs and maintenance - Building 2.80 5.06 Rent 1.85 1.65 Other manufacturing expenses 14.70 14.36 (Increase)/Decrease in inventory 139.89 (20.88) TOTAL 3,914.14 3,263.93 18. SELLING AND OPERATING EXPENSES Salary, bonus and allowances 1,122.19 888.18 Contribution to Provident and other funds 58.55 41.92 Staff welfare expenses 40.27 34.99 Directors’ salaries, allowances and commission 55.09 36.61 Incentive and commission 217.45 179.43 Sales promotion expenses 1,045.63 919.63 Export commission 36.88 34.37 Commission on sales 67.93 44.86 Travelling expenses 502.32 403.39 Freight outward 244.21 165.39 Telephone expenses 20.45 19.25 Rates and taxes 8.36 7.52 Provision for doubtful debts 15.00 17.50 Insurance premium 24.24 17.32 Electricity charges 15.70 15.95 Rent 111.21 87.02 Repairs and maintenance - Others 69.77 59.13 Auditors’ remuneration Audit fees 5.50 4.80 Other matters - 0.10 Out of pocket expenses 0.10 0.03 Loss on sale of assets 0.37 9.11 Exchange Loss - 1,143.54 Discounting charges 166.16 7.28 Other operating expenses 460.71 335.89 TOTAL 4,288.09 4,473.21 Annual Report 2010-2011 61
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 and 60: Cash Flow Statement (All amounts in
Page 61 and 62: Schedules annexed to and forming pa
Page 63: 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
Page 99 and 100: NOTE H - PROPERTY, PLANT AND EQUIPM
Page 101 and 102: Working Capital Facilities is secur
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
Page 109 and 110: The Group’s trade and other recei
Page 111 and 112: 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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