Good Health Can’t Wait.

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Good Health Can’t Wait. Dr. Reddy’s Laboratories Limited NOTES TO FINANCIAL STATEMENTS (All amounts in Indian Rupees millions, except share data and where otherwise stated) 2.3: BORROWINGS PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 A) Long term borrowings Secured Long term maturities of finance lease obligations (a) 8 13 Unsecured Sales tax deferment loan from the Government of Telangana (interest free) (b) 8 15 Long term loans from banks (c) 9,375 8,987 9,391 9,015 B) Short term borrowings Unsecured From banks Packing credit loans (d) 20,857 17,630 Other short term borrowings (e) 1,000 - 21,857 17,630 (a) Finance lease obligations are towards lease rentals payable for the vehicles leased by the Company. Lease rentals are paid in monthly instalment, with the last instalment due in April 2017. (b) Sales tax deferment loan is repayable in 5 instalments, with the last instalment due on 31 March 2019. (c) External Commercial Borrowings of USD 150 million carrying interest rate of LIBOR plus 125 bps and is repayable in five equal quarterly instalments ending in February 2019. As part of the loan arrangement, the Company is required to comply with certain financial covenants and the Company was in compliance with such covenants as at 31 March 2015 and 31 March 2014. (d) Packing credit loans for the current year comprised of USD and EUR denominated loans carrying interest rates of LIBOR plus 7.5 - 40 bps and RUB denominated loans carrying fixed interest rate of 9.80% - 22.30%, and are repayable within 3 to 12 months from the date of drawdown. Packing Credit loans for the previous year comprised of USD and EUR denominated loans carrying interest rates of LIBOR plus 20 - 85 bps, RUB denominated loans carrying interest rate of Moscow Prime Offered Rate plus 60 bps, RUB denominated loans carrying fixed interest rate of 7.20% - 7.75% per annum and INR denominated loans carrying fixed interest rate of 9.50% - 10%, and are repayable within 1 to 6 months from the date of drawdown. (e) Other short term borrowing comprises of INR denominated loan carrying fixed interest rate of 10.00% and is repayable in April 2015. 2.4: OTHER LIABILITIES PARTICULARS AS AT AS AT 31 MARCH 2015 31 MARCH 2014 A) Other long term liabilities Deferred revenue 67 47 Long term incentive plan 188 - 255 47 B) Other current liabilities Current maturities of long term borrowings Finance lease obligations 6 4 Sales tax deferment loan from the Government of Telangana (interest free) 7 13 Due to capital creditors 2,048 1,714 Payable to subsidiary companies including step down subsidiaries 2,662 2,306 Interest accrued but not due on loan 65 41 Unclaimed dividends, debentures and debenture interest (a) 57 83 Accrued expenses 4,914 4,259 Salary and bonus payable 1,305 1,027 Derivative financial instrument liability 109 148 Due to statutory authorities 252 193 Trade and security deposits received 171 166 Others 778 340 12,374 10,294 (a) Unclaimed amounts are transferred to Investor Protection and Education Fund after seven years from the due date. 126
Standalone Financial Statements Annual Report 2014 - 15 NOTES TO FINANCIAL STATEMENTS (All amounts in Indian Rupees millions, except share data and where otherwise stated) 2.5: PROVISIONS PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 A) Long term provisions Provision for employee benefits Compensated absences 387 255 Long service award benefit plan 111 80 498 335 B) Short term provisions Provision for employee benefits Gratuity 79 132 Compensated absences 155 157 Long service award benefit plan 14 11 Other provisions Allowance for sales returns (a) 725 600 Proposed dividend 3,408 3,062 Tax on proposed dividend 694 518 Others 320 315 5,395 4,795 (a) Details of changes in allowance for sales returns during the year are as follows: Balance at the beginning of the year 600 562 Provision made during the year 660 782 Provision utilised during the year (535) (744) Balance at the end of the year 725 600 2.6: TRADE PAYABLES PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 Payable to third parties Due to micro, small and medium enterprises 79 97 Others 6,007 6,654 Payable to subsidiary companies including step down subsidiaries 1,074 1,672 7,160 8,423 (a) The principal amount remaining unpaid as at 31 March 2015 in respect of enterprises covered under the “Micro, Small and Medium Enterprises Development Act, 2006” (MSMDA) is ` 79 (previous year: ` 97). The interest amount computed based on the provisions under Section 16 of the MSMDA of ` 0.09 (previous year: ` 0.03) is remaining unpaid as of 31 March 2015. The interest amount of ` 0.03 that remained unpaid as at 31 March 2014 was paid fully during the current year. (b) The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under this Act is ` Nil (previous year: ` Nil). (c) The list of undertakings covered under MSMDA was determined by the Company on the basis of information available with the Company and has been relied upon by the auditors. 127
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ANNUAL REPORT 2014-15 Good Health C
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Our Brand We are in the business of
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Notice Annual Report 2014 - 15 NOTI
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E-Voting Annual Report 2014 - 15 IN
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Dr. Reddy’s Laboratories Limited
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The future belongs, not to those wh
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