Financials, Disclosures, Ratios & Results

Quality Pharmaceuticals reaching over 100 countries

BUSINESS ANALYTICS - REVENUE AND PROFITABILITY

Net Sales (₹ Millions)

FY20 (151,428)

FY19 (143,181)

FY18 (135,648)

FY17 (153,848)

Profit Before Tax (₹ Millions)

FY20 (15,054)

FY19 (17,452)

FY18 (18,132)

FY17 (33,942)

Net Profit (₹ Millions)

FY20 (9,088)

FY19 (8,521)

FY18 (12,427)

FY17 (24,503)

EBITDA (₹ Millions)

FY20 (28,386)

FY19 (28,937)

FY18 (28,884)

FY17 (43,501)

Revenue Compositions (%)

North America
India
APAC
EMEA
LATAM
ROW
API
NCE

BUSINESS CRITICAL INVESTMENT

Cumulative R&D (₹ Millions)

Cumulative Capex (₹ Millions)

SHAREHOLDER VALUE GROWTH

Dividend (%)

FY20 (300)

FY19 (250)

FY18 (250)

FY17 (375)

Earnings Per Share (INR)

FY20 (20.0)

FY19 (18.8)

FY18 (27.4)

FY17 (54.1)

BALANCE SHEET

As at March 31, 2020

	Note	As at 31.03.2020 in million	As at 31.03.2019 in million
ASSETS
Non-Current Assets
a. Property, Plant and Equipment	2	34,461.9	30,672.000
b. Capital Work in Progress		6,946.3	9,038.200
c. Intangible Assets		676.9	3,057.500
d. Intangible Assets Under Development	50	1,273.7	2,952.7
e. Financial Assets
(i) Non-Current Investments
– In Subsidiaries	4	51,247.3	51,247.300
– In Others	4	19.7	1,563.600
(ii) Non-Current Loans	5	447.2	627.4
iii Other Non-Current Financial Assets	6	9.7	14.300
f. Non-Current Tax Assets (Net)		1,178.3	1,424.100
g. Other Non-Current Assets	7	2,158.9	1,459.900
		98,419.9	1,02,057.000
Current Assets
a. Inventories	8	24,846.1	23,059.800
b. Financial Assets
(i) Current Investments	9	23,297.3	21,073.800
(ii) Trade Receivables	10	36,163.3	37,243.200
iii Cash and Cash Equivalents	11	11,680.2	559.400
iv Other Bank Balances	12	1,379.1	55.000
(v) Current Loans	13	348.9	229.100
vi Other Current financial Assets	14	3,245.8	6,304.800
c. Current Tax Assets (Net)		2.0	2.000
d. Other Current Assets	15	7,422.4	6,318.000
		1,08,385.1	94,845.1
TOTAL		2,06,805.0	1,96,902.100
EQUITY AND LIABILITIES
Equity
a. Equity Share Capital	16	906.0	905.000
b. Other Equity	17	1,73,826.0	170,267.7
		1,74,732.0	171,172.7
Liabilities
Non-Current Liabilities
a. Financial Liabilities
i Non-Current Borrowings	18	3.1	5.300
ii Trade Payables
– Total outstanding dues of Micro Enterprises and Small Enterprises	19	–	–
– Total outstanding dues of other than Micro Enterprises and Small Enterprises	19	–	16.100
iii Other Non-Current Financial Liabilities	20	1,195.9	149.600
b. Non-Current Provisions	21	2,726.3	2,094.6
c. Deferred Tax Liabilities Net	46	1,929.4	2,662.200
d. Other Non-Current Liabilities	22	660.4	827.700
		6,515.1	5,755.500
Current Liabilities
a. Financial Liabilities
i Current Borrowings		52.9	16.800
ii Trade Payables
– Total outstanding dues of Micro Enterprises and Small Enterprises	24	989.4	1,046.100
– Total outstanding dues of other than Micro Enterprises and Small Enterprises	24	14,671.9	11,494.100
iii Other Current Financial Liabilities	25	2,747.1	1,577.200
b. Other Current Liabilities	26	1,194.9	869.800
c. Current Provisions	27	5,515.6	4,903.800
d. Current Tax Liabilities (Net)		386.1	66.100
		25,557.9	19,973.900
TOTAL		2,06,805.0	1,96,902.100

See accompanying notes forming part of the financial statements

PROFIT & LOSS ACCOUNT

For the year ended March 31, 2020

	Note	For the Current Year ended 31.03.2020	For the Previous Year ended 31.03.2019
			( in million)
INCOME:
Revenue from Operations	28	1,10,256.6	1,13,563.2
Other Income	29	4,751.9	2, 13.4
Total Income		1,15,008.5	1,16,476.6
EXPENSES:
Cost of Materials Consumed	30	27,532.2	26, 30.8
Purchases of Stock-in-Trade		14,827.7	13,470.5
Changes in Inventories of Finished Goods,	31	(287.2)	(1,472.3)
Work-in-Progress and Stock-in-Trade [(Increase)/Decrease]
Employee Benefits Expense	32	17,032.2	15,154.2
Finance Costs	33	525.9	354.7
Depreciation and Amortisation Expense	2&3	5,187.5	4,263.0
Other Expenses	34	32,075.6	30, 52.2
Total Expenses		96,893.9	89,653.1
Profit before Exceptional Items and Tax		18,114.6	26,823.5
Exceptional items	50	7,592.1	3,3 .8
Profit before Tax		10,522.5	23,423.7
Tax Expense	46
– Current Tax (Net)		3,620.5	7,950.0
– Deferred Tax ( Net)		(373.5)	85.4
Total Tax Expense		3,247.0	8,035.4
Profit for the year		7,275.5	15,388.3
Other Comprehensive Income / (Loss)
(A) (i) Items that will not be reclassified subsequently to profit or loss:
(a) Remeasurements of Defined Benefit Liability		(442.9)	(16.8)
(ii) Income tax relating to items that will not be reclassified to profit or loss:	46	154.8	6.0
(B) (i) Items that will be reclassified subsequently to profit or loss:
(a) The eﬀective portion of gain & losses on hedging instruments in a cash flow hedge		(562.1)	15.2
(ii) Income tax relating to items that will be reclassified to profit or loss:	46	157.7	0.5
Other Comprehensive Income / (Loss) for the year, net of tax		(692.5)	4.9
Total Comprehensive Income for the year		6,583.0	15,393.2
Earnings per equity share (in )	43
Basic		16.07	34.03
Diluted		15.99	33.89
Face value of Equity Share (in )		2.00	2.00
See accompanying notes forming part of the financial statements

CASH FLOW

For the year ended March 31, 2020

	For the Current Year ended 31.03.2020	For the Previous Year ended 31.03.2019
		( in million)
A. Cash Flow from Operating Activities
Profit before Tax	10,522.5	23,423
Adjustments for:
Depreciation and Amortisation Expense	5,187.5	4,263.0
Impairment of Intangible assets / Intangible asset under development	3, 00.3	–
Loss / (Profit) on Sale / Write-oﬀ of Property, Plant and Equipment/Intangible Assets (net)	17.6	(17.7)
Net gain on sale of Mutual fund Investments	(1,062.8)	(122.4)
Finance Costs	525.9	3 4.
Interest on Deposits with Banks and Others	(80.2)	(3 3.9)
Dividend on Mutual Fund Investments	(145.6)	(420.9)
Unrealised Loss / ( gain) on mutual und Investments (net)	(2.4)	(120.5)
Doubtful Trade Receivables / Advances provided (net)	16.8	(63.3)
Bad Trade Receivables / Advances written oﬀ	3.2	–
Share Based Payments Expense	415 .3	477.0
Impairment in value of Non-Current investments	–	30.1
Provision for fine (European Commission)	–	3,399
Unrealised Exchange loss / (gain) on revaluation (net)	(1,490.2)	(822.8)
Operating Cash Flows before Working Capital Changes	17,707.9	29,996.8
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories	(1,786.3)	(1,259.6)
Trade Receivables	2,757.4	13,161.6
Current Loans	(119.8)	(52.8)
Non-Current Loans	180.2	(10.5)
Other Current financial Assets	3,075.1	(2,104.1)
Other Current Assets	(1,104.4)	1850.3
Other on Current Assets	(105.6)	60.2
Other on Current financial Assets	4.6	(11.1)
Adjustments for increase / (decrease) in operating liabilities:
Trade Payables	2,933.9	(1,809.5)
on Current Trade Payables	(16.1)	(15.5)
Other Current financial liabilities	1,01 .3	(193.4)
Other Current liabilities	32 .1	(426.0)
Other on Current liabilities	134.0	3.
Other on Current financial liabilities	(5.8)	99.1
Current Provisions	611.8	97.5
on Current Provisions	446.8	(159.0)
Cash Generated from Operations	26,054.1	39,220.3
Net Income tax paid	(3,859.2)	(8,113 1)
Net Cash Flow generated / (used in) from Operating Activities	22,194.9	31,107.2
B. Cash Flow from Investing Activities
Capital expenditure on Property, Plant and Equipment, including capital advances	(5,181.1)	(9,709.4)
Proceeds from sale of Property, Plant and Equipments / Intangible Assets	20.3	300.1
Proceeds from sale of on Current Investments	1,033	(1, 39.4)
Purchase of Current Investments	(141,13 . )	(89,820.9)
Proceeds from sale of Current Investments	13 ,96 .6	1,316.2
Bank balances not considered as Cash and Cash Equivalents (net)	(1,324.1)	(2.1)
Dividend on utual und Investments	145.6	420.9
Interest on Deposits with Banks and others	80.2	3 3.9
Net Cash Flow generated / (used in) from Investing Activities	(7,395.6)	(28,650.7)
C. Cash Flow from Financing Activities
Proceeds from / (Repayment of) on Current Borrowings (net)	35.	(48.1)
Proceeds from / (Repayment of) Current Borrowings (net)	3 .1	(5.3)
Proceeds from issue of equity shares (ESOPs)	1.0	0.8
Securities Premium Received (ESOPs)	58.7	3 .2
Payment of ease liabilities	(798.2)	–
Finance Costs	(210.9)	(1 .3)
Dividend paid	(2,264.6)	(2,248.4)
Corporate Tax on Dividend	(465.2)	(464.7)
Net Cash Flow generated / (used in) from Financing Activities	(3,678.5)	(2,953.8)
Net Increase / (Decrease) in Cash and Cash Equivalents	11,120.8	(497.3)
Cash and Cash Equivalents as at the beginning of the year	559.4	1,056.7
Cash and Cash Equivalents as at end of the reporting year (Refer note 11)	11,680.2	559.4

Notes :

The above Cash Flow Statement has been prepared under the ‘Indirect Method’ as set out in the Indian Accounting Standard 7 (Ind AS -7) “Statement of Cash Flow”.
Cash comprises cash on hand and current accounts with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), current investments that are convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

TEN YEARS FINANCIAL SUMMARY

CONSOLIDATED BALANCE SHEET (₹ in million)

As at March 31,	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
SOURCES OF FUNDS
Shareholders’ funds
Equity Share Capital	892.4	893.3	895.1	896.8	899.0	901.2	903.2	904.2	905.0	906.0
Reserves & Surplus	31,918.4	39,235.6	51,146.7	68,418.9	90,833.3	1,10,732.5	1,34,072.5	1,34,866.4	1,36,517.3	1,24,461.0
	32,810.8	40,128.9	52,041.8	69,315.7	91,732.3	1,11,633.7	1,34,975.7	1,35,770.6	1,37,422.3	1,25,367.0
Non-Controlling Interest	515.1	722.9	594.5	669.4	241.0	320.8	345.2	400.8	468.6	444.6
Loans	11,623.9	16,391.0	11,644.9	6,537.4	5,371.2	71,775.2	79,660.9	71,428.0	84,961.5	63,053.2
Deferred Tax Liabilities (net)	1,791.8	1,910.1	2,336.8	2,486.6	1,527.5	3,266.8	3,948.5	2,855.3	2,882.8	1,995.4
Other Liabilities (incl. Provisions)	14,502.0	20,669.3	22,520.6	23,051.2	33,737.7	39,252.1	47,142.5	52,599.1	53,758.5	58,978.3
TOTAL	61,243.6	79,822.2	89,138.6	1,02,060.3	1,32,609.7	2,26,248.6	2,66,072.8	2,63,053.8	2,79,493.7	2,49,838.5
APPLICATION OF FUNDS
Fixed Assets
Net Block	17,313.4	22,456.6	24,928.5	26,977.3	27,200.3	64,515.2	87,229.2	79,135.0	87,063.9	60,866.3
Capital Work-in-Progress (incl. Capital Advances)	5,319.3	4,973.7	3,909.0	4,110.2	6,745.3	32,145.5	24,639.0	26,555.6	17,293.9	10,953.4
	22,632.7	27,430.3	28,837.5	31,087.5	33,945.6	96,660.7	1,11,868.2	1,05,690.6	1,04,357.8	71,819.7
Goodwill on Consolidation	3,254.9	5,040.0	5,073.2	6,578.7	16,252.8	22,654.4	23,100.1	24,484.9	23,803.2	18,514.8
Investments	31.5	28.0	20.6	20.6	55.4	143.3	220.0	267.1	317.7	360.7
Deferred Tax Assets (net)	380.5	467.8	704.4	708.1	2,561.7	3,358.5	5,076.4	7,165.6	7,340.0	1,743.1
Other Assets
Inventories	11,999.6	17,326.7	19,489.3	21,294.5	25,036.1	32,736.5	36,422.8	36,624.9	38,367.7	34,568.7
Receivables	12,556.4	17,800.1	21,869.9	24,641.0	26,475.2	45,487.6	43,073.4	51,922.1	51,498.0	54,459.3
Cash & Bank Balances (refer note iii)	4,201.4	4,024.7	4,348.8	9,739.1	21,304.7	8,237.7	28,135.4	16,431.7	32,523.5	47,935.2
Others	6,186.6	7,704.6	8,794.9	7,990.8	6,978.2	16,969.9	18,176.5	20,466.9	21,285.8	20,437.0
	34,944.0	46,856.1	54,502.9	63,665.4	79,794.2	1,03,431.7	1,25,808.1	1,25,445.6	1,43,675.0	1,57,400.2
TOTAL	61,243.6	79,822.2	89,138.6	1,02,060.3	1,32,609.7	2,26,248.6	2,66,072.8	2,63,053.8	2,79,493.7	2,49,838.5

TEN YEARS FINANCIAL SUMMARY

CONSOLIDATED STATEMENT OF PROFIT AND LOSS (₹ in million)

Year ended March 31,	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
INCOME
Sales	57,421.7	70,017.2	95,235.3	1,11,671.2	1,26,932.2	1,37,578.7	1,71,198.0	1,55,598.4	1,43,180.5	1,51,428.0
Other Operating Income	1,121.5	1,232.1	1,796.7	1,999.3	1,703.0	4,976.7	3,745.3	2,443.1	3,465.1	2,319.6
Other Income	221.9	143.5	278.5	1,164.8	2,397.5	1,851.9	1,065.1	1,503.5	3,330.1	4,837.6
Total Revenue	58,765.1	71,392.8	97,310.5	1,14,835.3	1,31,032.7	1,44,407.3	1,76,008.4	1,59,545.0	1,49,975.7	1,58,585.2
EXPENSES
Cost of Materials	22,379.3	26,039.0	35,485.0	38,173.8	41,570.4	43,325.7	50,014.3	52,744.0	49,460.9	54,306.0
Employee Benefits Expense	7,675.6	9,695.3	12,666.2	14,646.5	17,473.4	21,416.2	28,495.2	28,647.1	27,701.7	29,868.4
Manufacturing and Other Expenses	16,709.9	21,067.9	26,181.9	30,822.3	33,395.5	40,960.0	51,502.4	45,175.3	43,875.8	46,025.2
Total Expenses	46,764.8	56,802.2	74,333.1	83,642.6	92,439.3	1,05,701.9	1,30,011.9	1,26,566.4	1,21,038.4	1,30,199.6
Profit before Interest, Depreciation & Tax	12,000.3	14,590.6	22,977.4	31,192.7	38,593.4	38,705.4	45,996.5	32,978.6	28,937.3	28,385.6
Finance Cost	344.8	354.7	409.5	266.5	98.1	594.7	1,525.3	2,043.5	3,024.9	3,629.8
Depreciation and Amortisation	1,711.8	2,275.2	3,321.9	2,609.7	4,347.0	4,871.3	9,122.3	10,858.7	8,460.5	9,702.2
Profit before Exceptional Items & Tax	9,943.7	11,960.7	19,246.0	28,316.5	34,148.3	33,239.4	35,348.9	20,076.4	17,451.9	15,053.6
Exceptional Items efer note iv)	–	–	–	–	–	–	–	14,643.5	3,399.8	7,520.7
Profit before Tax	9,943.7	11,960.7	19,246.0	28,316.5	34,148.3	33,239.4	35,348.9	5,432.9	14,052.1	7,532.9
Current Tax	1,176.3	2,756.2	5,829.0	9,536.0	10,041.6	11,433.5	10,882.1	5,349.8	8,496.8	6,869.7
Deferred Tax	(26.5)	329.4	12.6	85.5	(337.6)	(840.1)	(1,097.0)	(2,465.2)	382.6	4,701.4
Net Profit/(Loss) before Discontinued Operations, Share of Profit from Jointly Controlled Entity, Non-Controlling Interest and Share of Loss in Associates	8,793.9	8,875.1	13,404.4	18,695.0	24,444.3	22,646.0	25,563.8	2,548.3	5,172.7	(4,038.2)
Profit from iscontinued Operations	–	–	–	–	–	–	–	–	944.6	1,301.0
Share of Profit from ointly Controlled Entity	–	–	–	–	–	49.0	82.5	35.2	37.5	39.4
Share of Profit Loss) attributable to Non-Controlling Interest	148.4	198.6	262.8	331.3	411.9	87.6	71.7	70.9	89.3	(3.9)
Share of Loss in Associates	20.0	–	–	–	–	–	–	–	–	–
Net Profit/(Loss)	8,625.5	8,676.5	13,141.6	18,363.7	24,032.4	22,607.4	25,574.6	2,512.6	6,065.5	(2,693.9)

FINANCIAL RESULT

Date	Quarter/halfyear/annual	Full year (April-March)
30-06-2020	Q1 FY 2020-2021	Consolidated Standalone	Unaudited
31-03-2020	FY 2020	Consolidated Standalone	Audited
31-12-2019	Q3 FY 2019-2020	Consolidated Standalone	Unaudited
30-09-2019	Q2 FY 2019-2020	Consolidated Standalone	Unaudited
30-06-2019	Q1 FY 2019-2020	Consolidated Standalone	Unaudited
31-03-2019	FY 2019	Consolidated Standalone	Audited
31-12-2018	Q3 2018-2019	Consolidated Standalone	Unaudited
30-09-2018	Q2 2018-2019	Consolidated Standalone	Unaudited
30-06-2018	Q1 2018-2019	Consolidated Standalone	Unaudited
31-03-2018	FY 2018	Consolidated Standalone	Audited
31-12-2017	Q3 2017-2018	Consolidated Standalone	Unaudited
30-10-2017	Q2 2017-2018	Consolidated Standalone	Unaudited
Legend: Q = Quarterly, H = Half-yearly, FY = Full year