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) 2.40: RESEARCH AND DEVELOPMENT FIXED ASSETS (INCLUDED IN NOTE 2.7) Description As at 1 April 2014 Additions (a) Gross Block Depreciation Net Block Deletions (b) As at 31 March 2015 As at 1 April 2014 For the year (a) Deletions (b) As at 31 March 2015 As at 31 March 2015 As at 31 March 2014 Tangible assets Land 70 - - 70 - - - - 70 70 Buildings 904 34 92 846 235 29 17 247 599 669 Plant and machinery 1,459 114 310 1,263 949 133 181 901 362 510 Electrical equipment 259 28 22 265 175 24 5 194 71 84 Laboratory equipment 2,346 393 143 2,596 1,357 226 68 1,515 1,081 989 Furniture and fixtures 203 11 8 206 160 14 6 168 38 43 Office equipment 207 91 20 278 157 49 19 187 91 50 Total tangible assets (A) 5,448 671 595 5,524 3,033 475 296 3,212 2,312 2,415 Intangible assets (B) - 18 - 18 - 3 - 3 15 - Total (A+B) 5,448 689 595 5,542 3,033 478 296 3,215 2,327 2,415 Previous year 4,848 724 124 5,448 2,726 409 102 3,033 2,415 (a) Includes gross block of ` 52 (previous year: ` 34) and accumulated depreciation of ` 46 (previous year: ` 13) towards transfers from non research and development to research and development fixed assets during the year. (b) Includes gross block of ` 367 (previous year: ` 28) and accumulated depreciation of ` 128 (previous year: ` 19) towards transfers from research and development to non research and development fixed assets during the year. 2.41: PROVISION FOR OTHER THAN TEMPORARY DIMINUTION IN THE VALUE OF LONG TERM INVESTMENTS For the year ended 31 March 2014 Investment in Reddy Pharma Iberia SA. During the year ended 31 March 2013, the Company had advanced a sum of ` 245 towards investment in Reddy Pharma Iberia SA. As the shares were not alloted by the end of such year, the said amount was classified as “Advance towards Investment” within long term loans and advances. Further, the advance was provided for as not recoverable and recorded as other expenditure. During the year ended 31 March 2014, shares were issued to the Company and accordingly the earlier provision for advance was reclassified as provision for permanent diminution in the value of investments with an equivalent reversal in other expenditure. 2.42: ASSET PURCHASE AGREEMENT WITH ECOLOGIC CHEMICALS LIMITED During the year ended 31 March 2014, the Company had entered into an asset purchase agreement with Ecologic Chemicals Limited (“Ecologic”), where in two directors of the Company have equity interests. The Company had paid ` 1,264 excluding taxes and duties for purchase of fixed and current assets. The consideration was arrived at based on valuation from independent valuers. The acquisition of these assets would help augment the Company’s manufacturing capacity in meeting the future business requirements of its PSAI segment. The acquisition was accounted for as a purchase of assets. The total purchase consideration had been allocated to the acquired assets as of 13 September 2013 based on a fair valuation carried out by the Company’s management as tabulated below: CATEGORY ` MILLIONS Land 66 Buildings 382 Plant and machinery 702 Inventories 113 Other current assets 1 Total 1,264 160
Standalone Financial Statements Annual Report 2014 - 15 NOTES TO FINANCIAL STATEMENTS (All amounts in Indian Rupees millions, except share data and where otherwise stated) 2.43: ACQUISITION OF SELECT ESTABLISHED BRAND PORTFOLIO OF UCB On 1 April 2015, the Company entered into a definitive agreement with UCB India Private Limited and other UCB group companies (together referred to as “UCB”) to acquire a select portfolio of established products business in the territories of India, Nepal, Sri Lanka and Maldives. The said business was acquired on a slump sale basis. The transaction includes approximately 350 employees engaged in operations of the India Business. The acquisition is expected to strengthen the Company’s presence in the areas of Dermatology, Respiratory and Pediatrics. The total purchase consideration was ` 8,000. The acquisition is expected to be closed in the first quarter of the financial year 2015-16. 2.44: SEGMENT INFORMATION In accordance with AS-17 “Segment Reporting”, segment information has been given in the consolidated financial statements of Dr. Reddy’s Laboratories Limited and therefore no separate disclosure on segment information is given in these financial statements. 2.45: FINANCE LEASE The Company has taken vehicles on finance lease. The future minimum lease payments and their present values as at 31March2015 are as follows: PARTICULARS PRESENT VALUE OF MINIMUM LEASE PAYMENTS FUTURE INTEREST MINIMUM LEASE PAYMENTS Not later than one year 6 7 13 Later than one year and not later than five years 8 4 12 Total 14 11 25 The future minimum lease payments and their present values as at 31March2014 were as follows: PARTICULARS PRESENT VALUE OF MINIMUM LEASE PAYMENTS FUTURE INTEREST MINIMUM LEASE PAYMENTS Not later than one year 4 9 13 Later than one year and not later than five years 13 11 24 Total 17 20 37 2.46: OPERATING LEASE The Company has taken offices and vehicles under operating lease agreements. Total expense recognised in statement of profit and loss on account of operating leases during the year amounts to ` 277 (previous year: ` 380). The total future minimum lease payments under non cancellable leases are as follows: PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 Not later than one year 81 72 Later than one year and not later than five years 96 85 Total 177 157 2.47: COMPARATIVE FIGURES Previous year’s figures have been regrouped / reclassified wherever necessary, to conform to current year’s classification. As per our report of even date attached for B S R & Co. LLP Chartered Accountants for and on behalf of the Board of Directors of Dr. Reddy’s Laboratories Limited Firm Registration No.: 101248W/W-100022 Supreet Sachdev Partner K Satish Reddy Chairman Membership No.: 205385 G V Prasad Co-Chairman & Chief Executive Officer Place : Hyderabad Saumen Chakraborty President & Chief Financial Officer Date : 12 May 2015 Sandeep Poddar Company Secretary 161
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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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Corporate Overview Annual Report 20
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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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