Good Health Can’t Wait.

More documents

Recommendations

Info

Good Health Can’t Wait. Dr. Reddy’s Laboratories Limited NOTES TO THE CONSOLIDATED 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) 775 947 Unsecured Sales tax deferment loan from the Government of Telangana (interest free) (b) 8 15 Long term loans from banks (c) 13,532 19,793 14,315 20,755 B) Short term borrowings Unsecured From Banks Packing credit loans (d) 20,857 17,630 Other short term borrowings (e) 1,000 2,977 21,857 20,607 (a) Finance lease obligations represent lease rentals payable for buildings, plant and machinery and vehicles leased by the Company. (b) Sales tax deferment loan is repayable in 5 instalments, with the last instalment due on 31 March 2019. (c) The balance of long term loans comprises of: (i) (ii) 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; Term loan of USD 55 million carrying interest rate of LIBOR plus 100 bps and is repayable in two equal quarterly instalments ending in September 2016. The figure reflected in above table is excluding the current portion of USD 110 million which is classified under “other current liabilities”; and (iii) Term loan of GBP 8 million carrying interest rate of LIBOR plus 130 bps and is repayable in September 2016. As part of the aforesaid loan arrangements, the Company is required to comply with certain financial covenants and the Company was in compliance with such covenants as of 31 March 2015 and 31 March 2014. (d) (e) 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. Other short term borrowing as at 31 March 2015 comprises of INR denominated loan carrying fixed interest rate of 10.00% and is repayable in April 2015. In the previous year, there was a loan of EUR 36 million carrying interest rate of LIBOR plus 90 bps, which has been repaid during the current financial year. 182
Consolidated Financial Statements Annual Report 2014 - 15 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in Indian Rupees millions, except share data and where otherwise stated) 2.4: OTHER LIABILITIES PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 A) Other long term liabilities Deferred revenue 2,111 959 Long term incentive plan 323 - Others 299 222 2,733 1,181 B) Other current liabilities Current maturities of long term borrowings Long term loans from banks (a) 6,875 3,295 Finance lease obligations 87 100 Sales tax deferment loan from the Government of Telangana (interest free) 7 13 Due to capital creditors 2,168 1,844 Interest accrued but not due on loans 67 45 Unclaimed dividends, debentures and debenture interest (b) 57 83 Accrued expenses 9,926 9,286 Salary and bonus payable 2,395 1,835 Derivative financial instrument liability 639 339 Due to statutory authorities 659 487 Trade and security deposits received 335 296 Others 3,029 2,585 26,244 20,208 (a) Amount as on 31 March 2015 comprises of USD 110 million carrying interest rate of LIBOR plus 100 bps. The amount is payable in four equal quarterly instalments of USD 27.5 million each ending March 2016. (b) Unclaimed amounts are transferred to Investor Protection and Education Fund after seven years from the due date. 2.5: PROVISIONS PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 A) Long term provisions Provision for employee benefits Long service award benefit plan 111 79 Pension, seniority and severance indemnity plans 203 167 Compensated absences 412 282 Others - 35 Other provisions 53 - 779 563 B) Short term provisions Provision for employee benefits Gratuity 86 133 Long service award benefit plan 14 12 Pension, seniority and severance indemnity plans 6 7 Compensated absences 204 181 Other provisions Taxation, net of advance taxes 2,801 1,421 Allowance for sales returns (a) 3,905 2,504 Proposed dividend 3,408 3,062 Tax on proposed dividend 694 518 Others 321 319 11,439 8,157 183
Page 1 and 2:
ANNUAL REPORT 2014-15 Good Health C
Page 3 and 4:
Our Brand We are in the business of
Page 5 and 6:
Corporate Overview Annual Report 20
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Statutory Reports • Business Resp
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Statutory Reports • Management Di
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Statutory Reports • Corporate Gov
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Statutory Reports • Additional Sh
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Statutory Reports • Board’s Rep
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Standalone Financial Statements Ann
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134: Standalone Financial Statements Ann
Page 165 and 166: Consolidated Financial Statements A
Page 183: Consolidated Financial Statements A
Page 227 and 228: Notice Annual Report 2014 - 15 NOTI
Page 229 and 230: E-Voting Annual Report 2014 - 15 IN
Page 231: Dr. Reddy’s Laboratories Limited
Page 235 and 236:
The future belongs, not to those wh
show all

Good Health Can’t Wait.

Create successful ePaper yourself

Delete template?

Save as template?