1. The above audited financial results as reviewed by the Audit Committee and have been approved by the Board at its meeting held on November 12, 2009.
2. The consolidated audited financial results have been prepared in accordance with AS - 21 on ´Consolidated Financial Statement´, AS-27 ´ Financial Reporting of Interests in Joint Ventures´ and includes financial results of all subsidiaries and Joint Ventures.
3. The Board recommends final dividend @30% on the equity share capital of the Company i.e. Rs 1.50 per share subject to approval of members. This is in addition to interim dividend @ 60% on equity share capital of the Company i.e. Rs 3/- per share paid in February 09.
4. The Company´s operations fall within a single primary business segment viz. ´Pharmaceutical Products´.
5. FOB value of exports is Rs. 174,665 lakhs (Rs. 133,950 lakhs).
6. Sales include dossier income in standalone of Rs 7881 lacs (Rs 5816 lacs) & in consolidated of Rs 14242 lacs (Rs 1058 lacs).
7. Foreign Exchange (Gain)/Loss represents exchange differences arising on all foreign currency transactions. This includes loss due to restatement of Foreign Currency Convertible Bonds (net of Deposits) Rs. 22324 lakhs (gain of Rs. 4960 lakhs).
8. Premium on redemption of 194,600 Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of USD 1000 each is contingent in nature, the outcome of which is dependant on uncertain future events or actions, not wholly within the control of the Company.
9. Exceptional item (net of tax) represents Credit of an amount of Rs 10449 lacs being capital profit on buyback & cancellation of FCCBs as reduced by certain specified "Expenses" of Rs 10087 lacs as defined in the Scheme of Arrangement, which is pending for pronouncement of the Order before the Honourable High Court of Judicature of Andhra Pradesh at Hyderabad. The effect of the Scheme will be incorporated in the financial statements of the year in which Court Order is made effective.
10. Figures for the previous periods have been rearranged/regrouped wherever necessary.
K Nithyananda Reddy
Managing Director