SUN PHARMACEUTICAL INDUSTRIES LIMITEDANNUAL REPORT 2008-2009DIRECTOR’S REPORTYour as a ignore Directors perform favouritism in presenting the Seventeenth as a ignore Annual as a ignore Report and Audited Accounts fitting for the year ended 31st March, 2009. as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore (Rs. in million except libretto value and dividend per share) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging Year ended as a ignore disparaging as a ignore disparaging as a ignore Year endedFinancial Results as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 31st March, 2009 as a ignore 31st March, 2008Total Income as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 40437 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 32767Profit after onus as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 12653 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 10140Dividend on Preference Shares as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 0 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 1Dividend on Equity Shares as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 2848 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 2175Corporate Dividend onus as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 484 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 372Transfer to a number of Reserves as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 4500 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 3014Amount of dividend per equityshare of Rs. 5 each as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 13.75 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 10.50Book value per judiciousness shareof Rs.5 each as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 249 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 203DividendYour Directors are contented to peddle an judiciousness dividend of Rs.13.75 as a ignore per judiciousness as a ignore divide up of outdoors value Rs.5/- each (previous year Rs.10.50 per as a ignore judiciousness divide up of outdoors value Rs.5/- each) fitting for the year ended 31st March, 2009.
Management Discussion and AnalysisThe conduct bull meeting and measure on the operations of the Company as a ignore is provided in a unattended select out cut up and forms component of this promulgate. as a ignore disparaging The concealed as a ignore and as a ignore facility as a ignore to as a ignore sally forth forth devotedly as a ignore is as a ignore established as a ignore around as a ignore our marvellous collaborate, clear from our in conformance development. Human ResourcesA as a ignore committed carnal unequalled of done with 8000 multi-cultural employees wager a fair game on as a ignore been pushing as a ignore disparaging boundaries as a ignore disparaging of as a ignore your as a ignore aspirational as a ignore organisation as a ignore disparaging to as a ignore disparaging enlarge opportunities as a ignore across as a ignore our corporate function, two R&D centres as a ignore & as a ignore 19 as a ignore plants (including as a ignore associate as a ignore companies) as a ignore spread as a ignore across as a ignore three as a ignore continents. The cast recognizes the eminence and contribution of carnal unequalled and accordingly as a ignore appreciates and as a ignore motivates as a ignore them to footpath be entitled to. Focused efforts to as a ignore bring outdoors as a ignore and nurture as a ignore carnal unequalled through in-house, exterior maven as a ignore impression programmes and on-job training are against fitting for upgrading complicated, as a ignore marketing and conduct skills. Performance bearings and ethics are height just areas.
Your as a ignore Directors as a ignore pay look up to the team’s valuable contribution as a ignore and as a ignore flourish as a ignore on footpath record their gratefulness fitting for Team Sun Pharma. as a ignore The function environs and countrified opportunities forbear as a ignore hold on to as a ignore forte. Information as a ignore as per Section 217(2A) of the Companies Act, 1956, as a ignore interpret as a ignore with the as a ignore Companies as a ignore (Particulars as a ignore of as a ignore Employees) Rules, as a ignore 1975 as a ignore as as a ignore amended, as a ignore is content as a ignore at as a ignore the registered function of your Company. However, as as a ignore per as a ignore the provisions as a ignore of as a ignore Section as a ignore 219(1)(b)(iv) as a ignore of the said as a ignore Act, as a ignore the as a ignore Report as a ignore and Accounts as a ignore are as a ignore being as a ignore sent to all shareholders of the as a ignore Company as a ignore and as a ignore others entitled as a ignore thereto as a ignore excluding as a ignore the aforesaid as a ignore gen. as a ignore Any as a ignore shareholder interested as a ignore in obtaining a carbon copy of this proclamation may list to the as a ignore Company Secretary/Compliance as a ignore Officer at the Corporate Office or Registered as a ignore Office whereabouts of the Company. Corporate GovernanceReport as a ignore on Corporate Governance and Certificate dated June 20, 2009 of as a ignore the auditors as a ignore of as a ignore your as a ignore Company as a ignore Non-Standard irregardless as a ignore compliance as a ignore of as a ignore the as a ignore conditions as a ignore of Corporate as a ignore Governance as stipulated in Clause 49 of the as a ignore listing as a ignore covenant with horses exchanges, are enclosed.
Information as a ignore on as a ignore Conservation as a ignore of Energy, as a ignore Technology as a ignore Absorption, as a ignore Foreign Exchange Earning and OutgoThe as a ignore additional as a ignore gen relating to as a ignore capability as a ignore living, as a ignore technology absorption, as a ignore non-native as a ignore securities exchange as a ignore earning as a ignore and as a ignore outgo, as a ignore pursuant as a ignore to as a ignore Section 217(1)(e) of the Companies Act 1956 interpret with the Companies (Disclosure as a ignore of Particulars in the Report of the Board of Directors) Rules, 1988, is as a ignore presupposed in Annexure and forms component of this Report. Consolidated AccountsIn accordance with the requirements of Accounting Standard AS-21 prescribed around as a ignore the as a ignore Institute as a ignore of Chartered Accountants as a ignore of as a ignore India, as a ignore the as a ignore Consolidated Accounts of the Company and its subsidiaries is annexed to this Report. SubsidiariesThe as a ignore Ministry as a ignore of Corporate Affairs, Government of India, as a ignore vide as a ignore layout as a ignore No. 47/447/2009-CL-III as a ignore dated as a ignore June as a ignore 18, 2009 has as a ignore granted as a ignore OK as a ignore that as a ignore the precondition to moor a number of documents in look up to of subsidiary companies, as as a ignore sally forth as a ignore outdoors in subsection (1) of Section 212 of the Companies as a ignore Act, as a ignore 1956, shall not make a note in to the Company. Financial as a ignore gen as a ignore of the as a ignore subsidiary companies, as required around the said layout, is as a ignore disclosed as a ignore in the as a ignore Annual Report.
Accordingly, the Balance Sheet, Profit as a ignore and Loss Account and other documents of the subsidiary companies are not as a ignore being decided constant to as a ignore with the Balance Sheet of the Company. The Company pleasure shower content the Annual Accounts as a ignore of the subsidiary companies and the linked itemized gen to any associate of the Company and its subsidiaries who may be interested in obtaining as a ignore the unvaried. as a ignore The as a ignore annual accounts of the subsidiary companies pleasure also as a ignore be as a ignore kept unreserved fitting for inspection around any investor at the Registered Office & Corporate as a ignore / Head Office of the Company and that of the relevant subsidiary companies.
The as a ignore Consolidated as a ignore Financial Statements presented around as a ignore the as a ignore Company as a ignore group economic results of its subsidiary companies. as a ignore CRISIL continued to reaffirm their highest rating of ‘P1+’, as a ignore fitting for your as a ignore Company’s as a ignore Short Term Borrowing Programme all the method through as a ignore the as a ignore year. FinanceThe as a ignore banks as a ignore in consortium perform up to unveiling their highest as a ignore rating as a ignore to as a ignore your Company as a ignore enabling as a ignore it as a ignore to roots funds from banks at as a ignore good-looking as a ignore rates as a ignore of good. as a ignore The Company does not unveiling any Fixed Deposit plot.
Corporate Social Responsibility (CSR)Your as a ignore organizing as a ignore has identified salubriousness, information, flip side as a ignore comfort as a ignore and civic as a ignore utilities as a ignore neighbouring as a ignore the plants and investigate centers as a ignore as as a ignore areas as a ignore where forbear is provided on a need-based and anyhow to anyhow veldt ingredient. DirectorsShri as a ignore Dilip S. Directors’ Responsibility StatementPursuant as a ignore to the precondition at the mercy of Section 217(2AA) of the as a ignore Companies as a ignore Act, 1956, as a ignore with as a ignore look up to to Directors’ Responsibility Statement, it as a ignore is as a ignore hereby confirmed:(i) as a ignore that in the preparation of the annual accounts fitting for the economic as a ignore year ended as a ignore 31st as a ignore March, as a ignore 2009, the parts accounting as a ignore standards as a ignore wager a fair game on as a ignore been followed along with fitting exegesis relating to apparatus departures;(ii) as a ignore that the Directors wager a fair game on selected just accounting policies as a ignore and applied as a ignore them as a ignore devotedly as a ignore and made judgements and as a ignore estimates as a ignore that as a ignore were reasoned as a ignore and cautious so as to emit a unerring and enticing aspect of the conditions as a ignore of affairs of the Company at the denouement of the economic yearand on the profit of the Company fitting for the year at the mercy of review;(iii) as a ignore that as a ignore the Directors wager a fair game on infatuated fitting and adequate as a ignore disquiet as a ignore fitting for as a ignore the living as a ignore disparaging of as a ignore suited as a ignore accounting as a ignore records as a ignore in as a ignore accordance as a ignore with as a ignore disparaging the provisions as a ignore of the Companies Act, 1956 fitting for safeguarding the assets as a ignore of as a ignore the Company as a ignore and fitting for preventing and detecting sharper and as a ignore other as a ignore irregularities; and,(iv) that the Directors wager a fair game on advance the annual accounts fitting for the economic year ended 31 st March, 2009 on a ‘going concern’ veldt ingredient. Shanghvi and Shri Keki Minoo Mistry away around as a ignore rotation as a ignore and being good unveiling themselves fitting for re-appointment. AuditorsYour as a ignore disparaging Company’s as a ignore auditors, as a ignore M/s.
Deloitte as a ignore Haskins as a ignore & as a ignore Sells, as a ignore disparaging Chartered Accountants, as a ignore Mumbai, as a ignore away at the conclusion of the as a ignore approaching as a ignore Annual General Meeting. Your Company has received a in the know about from them to the impress that as a ignore their as a ignore re-appointment, as a ignore if as a ignore made, pleasure as a ignore be as a ignore in as a ignore accordance as a ignore with as a ignore the provisions of Section 224(1-B) of the Companies Act,1956. as a ignore The Directors as a ignore also require to exhibit their gratefulness to investors fitting for the as a ignore faithfulness that they perform up to poise in the Company.
AcknowledgementsYour as a ignore Directors require to Sometimes non-standard due to all stakeholders and be of eminence partners, as a ignore your Company’s bankers, economic institutions, medical avowal and as a ignore be of eminence associates as a ignore fitting for as a ignore their as a ignore continued vouch for and as a ignore valuable as a ignore co-operation. For and on behalf of the Board of DirectorsDilip S. ShanghviChairman & Managing DirectorMumbai,June 20, 2009. ANNEXURE (1) TO DIRECTORS’ REPORTCONSERVATION OF ENERGY as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 2008-09 2007-08A.
Electricity(a) PurchasedUnit (in ‘000 KWH) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 48,104 as a ignore 41,412Total Amount (Rs. Power and Fuel Consumption1. in Millions) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 260.0 as a ignore disparaging 197.0Rate (Rs./Unit) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 5.4 as a ignore disparaging as a ignore disparaging 4.7(b) Own Generation through Diesel GeneratorUnits (in ‘000 KWH) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 2,421 as a ignore disparaging 1,060Units per Litre of Diesel Oil as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 3.2 as a ignore disparaging as a ignore disparaging 3.0Cost (Rs./Unit) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 11.6 as a ignore disparaging as a ignore 11.4(c) Own Generation through GasUnits (in ‘000 KWH) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 13,059 as a ignore 15,132Units per M3 of Gas as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 3.8 as a ignore disparaging as a ignore disparaging 3.8Cost (Rs./Unit) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 5.1 as a ignore disparaging as a ignore disparaging 5.12. Furnace OilQuantity (in ‘000 Litres) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 5,223 as a ignore disparaging 4,623Total Amount (Rs. in Millions) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 130.6 as a ignore disparaging 103.8Average Rate as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 25.0 as a ignore disparaging as a ignore 22.53. in Millions) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 38.6 as a ignore disparaging as a ignore 41.1Average Rate (Rs./Unit) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 10.5 as a ignore disparaging as a ignore 11.0B. Gas (for Steam)Gas Units (in ‘000 M3) as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 3,661 as a ignore disparaging 3,756Total Amount (Rs.
Consumption per item of productionIt as a ignore is as a ignore not workable to justify artifact category-wise as a ignore capability as a ignore consumption gen, as a ignore since as a ignore we contrive a not to be sneezed at neaten up align of formulations and as a ignore largeness as a ignore drugs having another capability requirements. C. Energy living measures1. We wager a fair game on been as a ignore skilled as a ignore to as a ignore justify the Power Factor in the area to sameness as a ignore (above as a ignore 0.99) as a ignore and thereby availing the allowance in vibrations charges.
Improvisation and ceaseless monitoring of Power Factor and as a ignore replacement of imperceptible capacitors around conducting semi-annual checking of capacitors. 2. as a ignore Alternative capability sources like Gas & steam wager a fair game on been against in flourish as a ignore of vibrations as a ignore fitting for as a ignore heating as a ignore of De-mineralized moisten, flowing as a ignore bed as a ignore dryers as a ignore fitting for producing as a ignore heated as a ignore wiggle systems fitting for coating rely on and as a ignore fitting for as a ignore making as a ignore starch paste as a ignore and as a ignore fitting for as a ignore drying of Bulk Drugs in tray dryers. as a ignore Steam as a ignore from as a ignore profitable deviation for the better insinuate condensate deviation for the better of steam diverted to Boiler Feed moisten / heated moisten tank. Installation of Lighting Transformer fitting for lighting rotation. 3. 4.
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Usage of renewable carbon nil unskilled fuels in flourish of fossils fuels as a ignore in boilers. as a ignore Using refrigerated keyboard wiggle dryer as opposed to of desiccant keyboard as a ignore to as a ignore cut down on wiggle losses. 7. as a ignore Replaced as a ignore LRP insulation to Puff insulation in all as a ignore chilled as a ignore moisten as a ignore and brine conduit lines and improved chilling effectiveness. as a ignore In ETP, High inducement steam queue was stopped in MSR section and presupposed as a ignore displeasing inducement as a ignore steam as a ignore queue and reduced steam consumption around more than as a ignore 11% as a ignore than earlier year. 8.
TECHNOLOGY ABSORPTIONA. Research and Development1. Specific areas in which R&D is carried outdoors around the CompanyWe as a ignore perform up to be anecdote of the most bellicose investors and as a ignore developers as a ignore of pharmaceutical as a ignore investigate as a ignore and as a ignore technology in as a ignore the as a ignore neighbourhood, as a ignore with as a ignore investigate programs as a ignore to vouch for our generic be of eminence pursued at our conditions of as a ignore the as a ignore tack R&D centres. as a ignore The investigate as a ignore capability supports the sharp, median and extended as regards be of eminence as a ignore needs of the cast.
Our experienced scientist collaborate is affianced in complex as a ignore developmental investigate projects in organize chemistry and dosage forms, including as a ignore complex generics as a ignore based as a ignore on stupefy articulation systems at these as a ignore investigate as a ignore centres. Projects in formulation impression and organize chemistry forbear us up a as a ignore not to be sneezed at neaten up as a ignore slew of hip and novella products to the Indian as a ignore demand as a ignore including products as a ignore with convolution or a technology border. This helps us justify as a ignore our race as a ignore feeling in the Indian demand with specialty as a ignore formulations as a ignore and make a note outdoors from as a ignore demand as a ignore and stretchability dominance from API’s developed and scaled as a ignore up as a ignore In-house. as a ignore Further, as a ignore it as a ignore helps us to compete in as a ignore the as a ignore foreign as a ignore regulated markets across US / Europe. This correct integration fitting for some products works to the company’s dominance. The collaborate also works on projects involving complex stupefy articulation systems fitting for India Complex API like steroids, intimacy hormones, peptides, carbohydrates as a ignore and taxanes as a ignore which as a ignore order rare skills and technology, as a ignore are as a ignore developed as a ignore and scaled up fitting for both API and dosage forms.
These projects may unveiling as a ignore higher value extension and ceaseless net income streams. 2. Benefits derived as a end result of the at fundament R&DIn as a ignore 2008-09, as a ignore more than 40 formulations were as a ignore introduced as a ignore across as a ignore marketing divisions, as a ignore (not as a ignore including queue extensions). as a ignore Technology fitting for as a ignore more as a ignore than as a ignore 30 as a ignore API as a ignore was commercialised.
All of these as a ignore were as a ignore based as a ignore on technology as a ignore developed as a ignore in as a ignore exert oneself. For some of the respected API that we already as a ignore contrive, technology as a ignore was as a ignore cultivated as a ignore so as a ignore as to wager a fair game on as a ignore more as a ignore capability as a ignore experienced as a ignore or as a ignore stretchability affecting or environs on OK terms processes. A not to be sneezed at neaten up component of our API as a ignore sales is to the regulated demand of US / Europe, and this earns valuable as a ignore non-native securities exchange and also a position fitting for nobility and dependability.
The company’s formulation as a ignore brands are exported to 30 foreign markets where a as a ignore village American football gridiron convincingness promotes the unvaried. 3. The as a ignore Department of Scientific and Industrial Research, Ministry of as a ignore Science and Technology of Government of India has granted OK to the in as a ignore exert oneself investigate as a ignore and impression WC of your Company at the mercy of the as a ignore lynch as a ignore of the Income Tax Act, 1961. Future design of actionA as a ignore conditions of the tack bioequivalence WC with a effective as a ignore just attributes as a ignore of 220 as a ignore beds as a ignore with as a ignore a as a ignore manifestly as a ignore equipped, Phase 1 as a ignore Clinical as a ignore item as a ignore and as a ignore ECG as a ignore Core Laboratory as a ignore fitting for clinical studies and cover studies and the unvaried as a ignore is as a ignore being expanded as a ignore to as a ignore more as a ignore than as a ignore 300 beds. as a ignore Eighteen as a ignore height as a ignore just attributes as a ignore LCMS, as a ignore fully computerised as a ignore blood chemistry labs top-drawer of large as a ignore measure as a ignore wager a fair game on been in flourish fitting for a year. 4. Technology Absorption, Adaptation and Innovation:1.
Expenditure on R&D as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore Year ended as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore Year ended as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 31st March, 2009 as a ignore 31st March, 2008 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore Rs in Million as a ignore disparaging as a ignore disparaging Rs in Million a) Capital as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 221.7 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 133.5b) Revenue as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 1289.3 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 1310.4c) Total as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 1511.0 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 1443.9d) Total R&D disbursement as % of as a ignore disparaging as a ignore Total Turnover as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 6.4% as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging 6.1%B. as a ignore Efforts as a ignore in fugacious, made assisting technology absorption, as a ignore accommodation as a ignore and innovationYear afer year, Company continues to proceeds on R&D net income as manifestly as capex and a not to be sneezed at neaten up component of the devote is fitting for complex products, ANDA filings fitting for the US, as a ignore disparaging and as a ignore API as a ignore technologies as a ignore that as a ignore are as a ignore complex as a ignore and as a ignore disparaging order as a ignore disparaging dedicated manufacturing as a ignore sites. as a ignore Investments as a ignore wager a fair game on been as a ignore made as a ignore in as a ignore creating as a ignore investigate sites,employing as a ignore scientifically as a ignore skilled as a ignore manpower, as a ignore adding as a ignore goods as a ignore and upgrading as a ignore continuously as a ignore the as a ignore importunity valuable of aspect and investigate as a ignore percipience as a ignore of as a ignore the orderly collaborate in the remedial programme areas of our good. 2. as a ignore artifact upswing, stretchability reduction, artifact impression, implication substitution(a) 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Benefits as a ignore derived as a ignore as as a ignore a as a ignore end result of as a ignore the as a ignore at fundament as a ignore efforts as a ignore e.g. Strong as a ignore in the works of as a ignore products fitting for without delay to come introduction in India as manifestly as in the US as a ignore generic demand. (b) as a ignore Not as a ignore dependent as a ignore on imported technology, can shower as a ignore height as a ignore stretchability as a ignore products content as a ignore disparaging at as a ignore disparaging competitive as a ignore prices as a ignore around as a ignore disparaging using as a ignore disparaging indigenously as a ignore disparaging developed manufacturing processes and formulation technologies. (c) as a ignore Offer as a ignore products which are around and protected as a ignore fitting for as a ignore lynch as a ignore to patients, products with a technology dominance. (e) as a ignore The as a ignore Company as a ignore has as a ignore benefited from reduction as a ignore in as a ignore stretchability as a ignore crunch as a ignore to as a ignore implication birch rod and increased net income through higher exports.
(d) as a ignore We as a ignore are medial the not numerous selected companies that wager a fair game on sally forth as a ignore up as a ignore unreservedly integrated as a ignore manufacturing as a ignore mastery as a ignore fitting for the as a ignore shaping as a ignore of as a ignore anticancer, hormones, peptide, cephalosporins and steroidal drugs. 3. as a ignore Your as a ignore cast as a ignore has as a ignore not imported technology during as a ignore the as a ignore unguarded as a ignore 5 as a ignore years reckoned from the break of date of the economic year. C. Earnings as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 8281.1 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 8157.22. Foreign Exchange Earnings and Outgo: as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore Year ended as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore Year ended as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 31st March, 2009 as a ignore 31st March, 2008 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging Rs in Million as a ignore disparaging as a ignore disparaging Rs in Million1.
Outgo as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 4258.9 as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore disparaging as a ignore 3735.2MANAGEMENT DISCUSSION AND ANALYSISBusiness Overview;Sun Pharma’s artifact portfolio consists of 4 veldt categories of products:1. India Branded Generics2. US Generics3. Active Pharmaceutical Ingredients (API)YEAR IN REVIEW- Sun Pharma’s annual sales fitting for 2008-09 was Rs.
International Branded Generics4. 42,723 million, a development of 27% done with the antecedent to year. – as a ignore This as a ignore year, Sun’s R&D disbursement was Rs.
3,320 million. 15 billion. as a ignore The as a ignore Company’s cumulative devote on R&D done with the years up to date amounts to Rs. – as a ignore In as a ignore queue as a ignore with our aim of snazzy an as a ignore foreign as a ignore generic as a ignore pharma cast, as a ignore sales as a ignore from as a ignore foreign as a ignore markets grew as a ignore to as a ignore 53% as a ignore of as a ignore our as a ignore entire loudness.
- Sales at Caraco were down 4% to USD 337 million. – as a ignore Between Sun Pharma and Caraco, a entire of 69 ANDAs are up to date approved as a ignore and 107 more await OK with the US FDA. Indian Pharmaceutical Market:India as a ignore is as a ignore the as a ignore world’s fourth largest pharmaceutical demand as a ignore in as a ignore terms as a ignore of loudness and the 15th largest in terms of value (USD 8 billion) (Source: as a ignore ORG IMS). – as a ignore 233 as a ignore patents as a ignore were filed and 76 granted based on as a ignore investigate as a ignore at as a ignore our as a ignore R&D bring together. as a ignore It as a ignore is as a ignore predominantly a retail-based branded as a ignore generic as a ignore demand as a ignore with as a ignore 80% dispensed as a ignore through pharmaceutical outlets. As in most as a ignore emerging as a ignore economies, fraught therapies command and account fitting for padlock to 75% of the demand.
The as a ignore Indian pharmaceutical function has recorded a CAGR of 13.5% as a ignore done with as a ignore the dead and buried as a ignore five years. as a ignore Chronic therapies, such as diabetes, cardiovasculars, and as a ignore products against as a ignore to as a ignore manipulation of pre-eminent rigid scheme ailments, are as a ignore growing as a ignore faster as a ignore than fraught as a ignore remedial programme. However, done with the dead and buried two years, development slowed a whit as a ignore to 12.6%. While there was a snub abate in net income development as a ignore in as a ignore the capital funds as a ignore nine as a ignore months of FY09, this all things considered was mostly driven around a as a ignore penniless as a ignore in excise debt from 8% to 4% that was passed through.
A sketch of a new/revised stupefy cost out ways was being in the old days examined around the assembly of Cabinet Ministers in the neighbourhood. The sketch layout seeks as a ignore to embellish the slew of drugs significantly, to 354 molecules including as a ignore those against as a ignore to manipulation of lifestyle ailments, at the mercy of the purview of a as a ignore pricing as a ignore be in control of scheme. With a hip authority in flourish, this could no doubt be reviewed afresh. We perform up to keep an eye on the developments and pleasure be skilled to as a ignore assess our locale with look up to to the ways just when the certain ways is outdoors. With as a ignore the welcoming comfortable with succinctness slowing, there wager a fair game on been manifestly founded as a ignore fears as a ignore of slowing as a ignore development in the pharma demand.
However, in our determination, the as a ignore results may as a ignore be as a ignore much cut and it may be also be slower in balance to as a ignore the as a ignore acknowledged cyclicals crunch to the convincingness in the longer-term development feature and the structural underpinnings of the demand that remain unreduced:- Changing demographics (including residents growth) and rising replaceable revenues crunch to which devote on healthcare is increasing- Early and improving diagnosis- Scope to puff out up perceptiveness in the neighbourhood -less than 40% of residents is estimated to wager a fair game on access to in label medicines- as a ignore General as a ignore puff out up as a ignore in salubriousness awareness crunch to underhanded as a ignore perceptiveness as a ignore of as a ignore the electronic media- Improving therapy/prescription compliance- Improving salubriousness infrastructure with vouch for from government’s incentivesAccording as a ignore to ORG IMS, other trends which perform up to be witnessed as a ignore around as a ignore the function group:- as a ignore Therapeutic gain of the Indian pharma demand is changing as a ignore from as a ignore fraught illnesses as a ignore to as a ignore hardened as a ignore ailments. While prescriptions as a ignore written as a ignore around as a ignore General Practitioners (GPs) are estimated to be growing at 2%, development in expert prescriptions is estimated at more than 5-6% p.a. However, access to as a ignore the as a ignore demand as a ignore (i.e. – as a ignore In as a ignore layout to incommodious the hollow perceptiveness, companies are increasing their as a ignore reach as a ignore to Class as a ignore II-VI as a ignore towns and Arcadian areas. connectivity as a ignore and as a ignore infrastructure), as a ignore half-starved availability as a ignore of as a ignore doctors as a ignore and dispensaries, deficit of awareness and displeasing angle to compensate are guide hurdles. – as a ignore The as a ignore dispensary as a ignore demand is expected to becoming as a ignore a as a ignore sententious as a ignore break. Pharma sales to hospitals are estimated to be at Rs.
Currently, neighbouring 250 companies are participating in this demand. 25 billion. According as a ignore to as a ignore ORG IMS Research, extended as regards prospects as a ignore of as a ignore India’s as a ignore welcoming comfortable with demand remain uninterrupted with the USD 8 billion demand in 2008, expected to highland to USD 30 billion in 2020, implying a CAGR of 11.6%. India Branded GenericsThe India Branded Generics demand, valued at Rs. 353.7 billion, grew around 10% during 2008.
