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 Financial Results
Audited Financial Results for the Year ended 31st March, 2004
  (Rs.in Mio)

Particulars

Unaudited Results Audited Results Consolidated Results
Nine Months Ended Three Months Ended The Year Ended The Year Ended
31.12.2003 31.03.2004 31.03.2003 31.03.2004 31.03.2003 31.03.2004 31.03.2003
Net Sales/Income from Operations 9780 3630 3367 13411 11904 15869 13366
Other Income 137 84 172 220 240 282 256
Total income 9917 3714 3539 13631 12144 16151 13622
Expenditure

 

           
a. (Increase)/Decrease in Stock in Trade (384) 20 (115) (364) (319) (415) (430)
b. Consumption of Raw Material 5969 1902 1877 7871 7548 9018 8724
c. Staff Cost 372 142 147 514 335 716 434
d. Other Expenditure 2244 977 800 3221 2522 4337 2887
Total expenditure 8201 3041 2709 11242 10086 13656 11615
Profit before depreciation, interest & tax 1716 673 830 2389 2058 2495 2007
Interest 238 85 114 322 426 407 478
Depreciation 245 96 103 342 232 562 291
Profit before taxation 1233 492 613 1725 1400 1526 1238
Provision for Taxation              
a. Current Tax 212 80 88 293 253 303 256
b. Deferred Tax 113 49 58 161 112 162 109
c. Tax adjustments of previous years - 1 4 1 4 1 4
Net Profit 908 362 463 1270 1031 1060 869
Paid-up Equity Share Capital (Face value Rs. 5 per share) 242 253.9 233 253.9 233 253.9 233
Reserves excluding Revaluation Reserve       7310 5101 6629 4720
Basic Earnings per share (Rs.) (not annualised) 19.19 7.31 9.97 26.54 22.73 22.16 19.15
Diluted Earnings per share (Rs.) 19.06 7.31 9.97 26.41 22.73 22.05 19.15
Aggregate of non-promoters Shareholding              
a. Number of Shares 20577080     22942230 17860946    
b. Percentage of Shareholding 42.51     45.19 38.41    
Notes:
1. The above audited Quarterly Results as reviewed by the Audit Committee have been taken on record by the Board at its meeting held on 02.06.2004.
2. Investor  complaints  pending  at  the  beginning  of  the  quarter:  16,   received: 211,   resolved: 227 and  lying  unresolved at the end of the quarter: Nil.
3. The consolidated Quarterly Results include the results of subsidiary companies and joint venture companies as per Accounting Standard 21& 27.
4. The Board recommends dividend @45%on the equity share capital of the Company i.e Rs.2.25/- per share subject to approval of members.
5. The Company's equity shares have been delisted from the Ahmedabad and Madras Stock Exchanges with effect from 15th January 2004 and 26th February 2004 respectively. The shares now continue to be listed on Hyderabad, Bomaby and National Stock Exchanges.
6. Keeping in view the Company's business model of vertical integration, the management reviewed the reporting of its  financial  results  under  one segment and accordingly the Company reported its entire results under one segment viz. 'Pharmaceutical Products'.
7. Exports (F.O.B value) constitute Rs.6420.4 Millions(Rs.5637.3 Millions) of the sales for the year.
8. On 18th February 2004,  the Company allotted 2,370,000 equity shares of Rs.5/- each to Merlion India Fund I Ltd on preferential basis and hence, the paid up capital stands increased to Rs.253.85 Million divided into 50,770,000 equity shares of Rs.5/- each.
9. Figures have been regrouped wherever necessary.
    For and on behalf of the Board
Place: Hyderabad    K.Nityananda Reddy
Date : 02.06.2004   Managing Director
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