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Consolidated Financial Statements<br />
Annual Report 2014 - 15<br />
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
(All amounts in Indian Rupees millions, except share data and where otherwise stated)<br />
2.25: DEFERRED TAXATION<br />
PARTICULARS<br />
AS AT<br />
31MARCH2015<br />
AS AT<br />
31MARCH2014<br />
Deferred tax assets / (liabilities)<br />
Operating tax loss and interest loss carry-forward 581 281<br />
Inventories 240 211<br />
Trade receivables & Other current assets 916 1,040<br />
Current Liabilities & Provisions 868 711<br />
Stock based compensation (288) (207)<br />
Tangible and Intangible assets (1,274) (1,360)<br />
Deferred tax assets, net 1,043 676<br />
The net deferred tax assets of ` 1,043 (previous year: `676) have the following breakdown:<br />
PARTICULARS<br />
AS AT<br />
31MARCH2015<br />
AS AT<br />
31MARCH2014<br />
Deferred tax assets 2,450 1,917<br />
Deferred tax liabilities (1,407) (1,241)<br />
Deferred tax assets, net 1,043 676<br />
2.26 (a): DESCRIPTION OF THE GROUP<br />
Dr. Reddy’s Laboratories Limited (“DRL” or the “parent company”) together with its subsidiaries (collectively, “the Company” or “the Group”) is a leading<br />
India-based pharmaceutical company headquartered and having its registered office in Hyderabad, Telangana, India. Through its three businesses -<br />
Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – the Company offers a portfolio of products and services,<br />
including Active Pharmaceutical Ingredients (“APIs”), Custom Pharmaceutical Services (“CPS”), generics, biosimilars, differentiated formulations and<br />
New Chemical Entities (“NCEs”). The Company’s principal research and development facilities are located in Andhra Pradesh, India; Cambridge, United<br />
Kingdom; and Leiden, the Netherlands; its principal manufacturing facilities are located in Telangana, India; Andhra Pradesh, India; Himachal Pradesh,<br />
India; Cuernavaca-Cuautla, Mexico; Mirfield, United Kingdom; Louisiana, United States and Tennessee, United States; and its principal markets are in<br />
India, Russia, the United States, the United Kingdom, Venezuela and Germany. The Company’s shares trade on the Bombay Stock Exchange and the<br />
National Stock Exchange in India and, since 11 April 2001, also on the New York Stock Exchange in the United States.<br />
Subsidiaries, step-down subsidiaries and joint ventures of the parent company are listed below:<br />
ENTITY<br />
COUNTRY OF INCORPORATION<br />
PERCENTAGE<br />
OF HOLDING<br />
(%)<br />
Subsidiaries<br />
Aurigene Discovery Technologies Limited A Company organised under the laws of India 100<br />
Cheminor Investments Limited A Company organised under the laws of India 100<br />
Dr. Reddy’s Bio-sciences Limited A Company organised under the laws of India 100<br />
Dr. Reddy’s Farmaceutica Do Brasil Ltda. A Company organised under the laws of Brazil 100<br />
Dr. Reddy’s Pharma SEZ Limited A Company organised under the laws of India 100<br />
Dr. Reddy’s Laboratories SA A Company organised under the laws of Switzerland 100<br />
DRL Impex Limited A Company organised under the laws of India 100<br />
Idea2Enterprises (India) Private Limited A Company organised under the laws of India 100<br />
Industrias Quimicas Falcon de Mexico S.A.de C.V A Company organised under the laws of Mexico 100<br />
Reddy Antilles N.V. A Company organised under the laws of Netherlands 100<br />
Reddy Cheminor S.A. (under liquidation) A Company organised under the laws of France 100<br />
Reddy Pharma Iberia SA A Company organised under the laws of Spain 100<br />
Step-down subsidiaries<br />
Aurigene Discovery Technologies<br />
(Malaysia) SDN BHD<br />
Aurigene Discovery Technologies Inc.<br />
A subsidiary of Aurigene Discovery Technologies Limited organised under the<br />
laws of Malaysia<br />
A subsidiary of Aurigene Discovery Technologies Limited organised under the<br />
laws of USA<br />
beta Institut gemeinnützige GmbH A subsidiary of Reddy Holding GmbH organised under the laws of Germany 100<br />
betapharm Arzneimittel GmbH A subsidiary of Reddy Holding GmbH organised under the laws of Germany 100<br />
100<br />
100<br />
193