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Schedules annexed to and forming part of the Financial Statements
(All amounts in millions of Indian Rupees, unless otherwise stated)
12. MANAGERIAL REMUNERATION
2010-2011 2009-2010
(a) Paid/payable to directors*
Salaries, perquisites and other benefits 40.47 23.82
Commission 3.24 0.96
Sitting fees 0.80 0.72
Contribution to provident fund and superannuation fund 10.58 11.11
55.09 36.61
Name of Directors
1. Mr. Gracias Saldanha 0.06 0.12
2. Mrs. B. E. Saldanha 0.08 0.06
3. Mr. Glenn Saldanha 32.25 18.28
4. Mrs. Cheryl Pinto 12.10 9.41
5. Mr. A. S. Mohanty 9.94 8.20
6. Other Directors 0.66 0.54
* Excludes contributions to Gratuity and Leave Encashment Fund, which
is based on actuarial valuation.
(b) Computation of net profits in accordance with Section 349 and Section 309(5)
of the Companies Act, 1956.
Profit before taxation as per statement of profit and loss 2,508.10 1,210.13
Add: Depreciation as per statement of profit and loss 209.88 212.78
Provision for doubtful debts 15.00 17.50
2,732.98 1,440.41
Less: Depreciation calculated under Section 350 of the Companies Act, 1956 209.88 212.78
Net profit in accordance with Section 349 of the Companies Act, 1956 2,523.10 1,227.63
Add: Managerial remuneration paid/payable to directors 55.09 36.61
Net profit in accordance with Section 309(3) of the Companies Act, 1956 2,578.19 1,264.24
Maximum managerial remuneration allowed under Section 198 of the
Companies Act, 1956, 11 per cent of the above 283.60 139.07
13. CAPACITY, PRODUCTION, SALES AND STOCKS
(a)
Capacities and actual production (including samples)
Installed Capacity
Actual Production
Class of goods
UoM 2010-2011 2009-2010 2010-2011 2009-2010
Injections Ltrs - - 150,119 210,901
Liquid Orals Ltrs 8,553,666 8,553,666 4,825,608 4,175,057
Lotions and Externals Ltrs 870,025 870,025 686,220 708,052
Ointments and Creams Kgs 1,153,500 1,136,550 731,372 834,457
Solids and Powders Kgs 113,000 113,000 286,185 311,173
Tablets and Capsules Nos 1,182,950,000 1,182,950,000 760,097,746 784,299,349
Aerosol Spray Nos 3,000,000 - 357,213 -
Inhaler Capsules Nos 400,000 - 198,558 -
Others - - 60,142 132,131
Note:
(i) The products of the Company are exempt from licencing procedures.
(ii) Installed capacity, being a technical matter, has not been verified by the auditors. However, the management
has certified the same.
(iii) Actual production includes goods manufactured at third party manufacturing facilities on loan licence basis
and at leased facilities.
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GLENMARK PHARMACEUTICALS LIMITED