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Notes to Accounts of AstraZeneca Pharma India Ltd.

Mar 31, 2016

# The Company has received a service tax demand of Rs. 23,508,332 for the period April 2006 to March 2012, on the expenditure incurred in foreign currency for various expenses such as registration fee, transportation, accommodation for attending different conferences / seminars, meetings and trainings. The Commissioner vide OIO 62/2014 confirmed the demand along with interest and penalties, against which the Company has filed an appeal with Customs Excise and Service Tax Appellate Tribunal ("CESTAT") on 8 January 2015. Out of the above balance, the Company has provided Rs. 11,064,245 and the balance amount of Rs. 12,444,087 is considered to be contingent in nature.

# The Company has received a service tax demand of Rs. 5,874,992 for the period April 2010 to November 2012 vide

OIO 138/2015 disallowing input tax credit on services such as sponsorship, insurance, event management, waste disposal services. The order has been passed by Commissioner confirming the demand along with interest and penalties, against which the Company has paid Rs. 440,625 as payment under protest as on date and has filed an appeal with Commissioner of Central Excise (Appeals) on 18 February 2016. Out of the above balance, the Company has provided Rs. 2,937,496 and the balance amount of Rs. 2,496,871 is considered to be contingent in nature. The Company is currently awaiting the hearing for the same.

# The Transfer Pricing Officer ("TPO") vide its Order for the period April 2008 to March 2009 made an adjustment to the clinical trial segment of the Company by determining the arm''s length margin at 43.73%. Moreover, the Assessing Officer ("AO") carried out adjustments relating to disallowance of provision for doubtful advances, difference between interest income as per books and TDS certificate and disallowance of expenses in respect of sample distribution, grants, sponsorship, medical donations and equipment donation. The Dispute Resolution Panel passed an unfavorable order on 19 November 2013 after which the AO confirmed the demand vide its Order dated 30 December 2013 amounting to Rs. 84,299,533. The Company filed a submission before the Income Tax Appellate Tribunal ("ITAT") on 28 February 2014. 50% of the total demand has been deposited as per the order of the AO amounting to " 42,149,817. The stay order on the balance tax demand expired on 4 August 2014, for which the Company filed an application with the ITAT. The Bench members heard both the parties and decided to club the stay matter alongwith the main hearing on technical merits and listed the matter for hearing on 9 July, 2015. The Department Representative informed the Bench that no coercive action will be initiated in the interim. The hearing date has been rescheduled to 30 May 2016.

# The Transfer Pricing Officer ("TPO") vide its Order for the period April 2010 to March 2011 made an adjustment to the clinical trial segment of the Company. Moreover, the AO carried out adjustments relating to disallowance of provision for doubtful advances, difference between interest income as per books and TDS certificate and disallowance of expenses in respect of sample distribution, grants, sponsorship, medical donations and equipment donation. The Company filed an appeal with the Dispute Resolution Panel ("DRP") on 27 March 2015, Post the hearing held during the year, the DRP on 20 January 2016 has passed the final order confirming the final liability at Rs. 10,397,300. The Company has filed an appeal with ITAT on 17 March 2016 challenging the disallowances made by the DRP. The case is yet to be listed before ITAT for hearing.

# The Transfer Pricing Officer ("TPO") vide its Order for the period April 2011 to March 2012 has charged a markup on the receipt of reimbursement of expenses by the Company. Moreover, the AO carried out adjustments relating to disallowance of expenses incurred on health care professionals, payout made to DHS against price difference, sales returns not supported by evidence, cost of samples, additional depreciation claim, SAD refund, VRS expenses and 40(a)(ia) Disallowance. . The Company has filed an appeal with the Dispute Resolution Panel ("DRP") on 18 March 2016 and is currently awaiting hearing on the same. The adjustment as per the order have been reduced the refund claim by Rs. 85,036,946.

** The Company has received an assessment order from Delhi VAT Department (DVAT) wherein the department has disallowed certain sales returns amounting to Rs. 4,755,672 for the period of 2010-2011 and has imposed tax, interest and penalty amounting to Rs. 887,017. The Company has paid 10% of the total demand as payment under protest as on date and has filed an appeal with department contesting the disallowance of sales returns. Out of the above balance, the Company has provided Rs. 443,509 and the balance amount of Rs. 354,807 is considered to be contingent in nature.

** The Company has received re-assessment order from Punjab VAT Department for the period 2006-2007 wherein the department has a raised demand of Rs. 1,771,199 for the stock write off. On the grounds of period of limitation, the Company has filed a writ petition with the Honourable Punjab High Court and an appeal with Deputy Excise and Taxation Commissioner, Patiala Division, Patiala on 4 June 2015. Out of the above balance, the Company has provided Rs. 885,599 and the balance amount of Rs. 885,600 is considered to be contingent in nature. Till date there is no hearing in this case.

The Company is not carrying any provision for the cases other than those mentioned above in its books of account, as the Company is confident of successfully litigating the matters.

(c) Others

The Company had received a notice from Bruhat Bangalore Mahanagara Palike (BBMP) on 5 November 2012 demanding a payment of Rs. 155,804,930 as development charges for its factory land. The Company had filed a writ petition in the Honourable High Court of Karnataka challenging the levy of the aforesaid development charges and accordingly on 25 February 2013, the Company received a stay from the Honourable High Court of Karnataka on the payment of the aforesaid development charges. There is no further development on the said case during the year.

The Company had received a notice dated 07 August 2014 from Bruhat Bangalore Mahanagara Palike (BBMP) demanding Rs. 70,820,430 as improvement charges for its factory land. The Company filed a writ petition in the Honourable High Court of Karnataka challenging the levy of aforesaid improvement charges. Accordingly on

11 February 2015, the Company has received a stay from Honourable High Court of Karnataka for the execution of demand notice. The case is yet to be listed before the Honourable High Court of Karnataka for hearing as on date.

Notes:

1. Stock indicated above is net of provision to bring down the value of the inventories to their net realisable values and to account for obsolescence and includes stock inventory held for distribution as samples (disclosed under other current assets).

2. Turnover indicated above is net of excise duty. Turnover does not include the amount reversed for provision of DHS and other chargebacks amounting to Rs. 54,750,000 which has been adjusted in the current year sales.

3. Previous year figures are given in brackets.

1. Segment reporting

The primary segments of the Company are its business segments as follows:

(i) Healthcare - The Company engages in the manufacture, trading and sale of pharmaceutical products.

(ii) Clinical trial services - The Company renders clinical trial services on pharmaceuticals products to its group companies.

The accounting policies consistently used in the preparation of the financial statements are also applied to record revenue and expenditure in individual segments.

Revenue and direct expenses in relation to segments are categorised based on items that are individually identifiable to that segment, while other costs, wherever allocable, are apportioned to the segments on an appropriate basis. Certain income and expenses are not specifically allocable to individual segments as the underlying assets and services are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such income and expenses and accordingly such expenses are separately disclosed as ''unallocated'' and directly charged against total income.

Assets and liabilities in relation to segments are categorised based on items that are individually identifiable to that segment. Certain assets and liabilities are not specifically allocable to individual segments as these are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such assets and liabilities and accordingly these are separately disclosed as ''unallocated''. Assets are primarily located in India.

Clinical trial services do not qualify as separate segments as defined in AS - 17 - ''Segment Reporting'' and hence have been disclosed as others.

2. Leases

The Company is obligated under non-cancellable operating leases for residential and office premises. Total rental expense under non-cancellable operating leases amounted to Rs. 27,233,772 (previous year: Rs. 22,122,059) for the year ended 31 March 2016.

The Company is also obligated under cancellable lease for residential and office premises, which are renewable at the option of lessor and lessee. Total rental expense under cancellable operating lease entered amounted to Rs. 42,890,703 (previous year: Rs. 63,307,901) for the year ended 31 March 2016.

Further the Company is obligated under operating lease agreements for vehicles. Total lease rental expense under the said agreement amounted to Rs. 839,406 (previous year: Rs. 647,120) for the year ended 31 March 2016.

3. Employee stock compensation plan [AstraZeneca Plc., UK Restricted Stock Units]

The Holding Company, AstraZeneca Plc. United Kingdom (AZUK), listed on London Stock Exchange had introduced a Long-Term Incentive Stock Compensation Plan in the form of Restricted Stock Units (RSUs) to attract and retain the best people. As per the plan, the awards granted to individuals are AstraZeneca Ordinary Shares registered and purchased on the London Stock Exchange. One restricted stock represents one AZUK share. When the stock vests after three years, restricted stock are automatically exchanged for the same number of AZUK shares. Moreover, the RSUs do not expire. There is no performance criteria. After the vesting period, the employees are free to either hold or sell the shares.

4. Dues to micro and small enterprises

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the ''Micro, Small and Medium Enterprises Development Act, 2006 (''the Act''). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at 31 March 2016 has been made in the financial statements based on information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date.

5. Gratuity plan

The Company has the following defined Gratuity plan.

Leaving service benefit:

Eligibility for benefit: Every employee who has completed 3 years or more of service would be eligible for gratuity benefit as per the terms of the Trust Deed.

For Non-Management staff:

One month''s salary for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

For Field staff (PSR):

15 days salary for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

Normal retirement benefit, death and disability benefit:

For Management staff:

One month''s salary last drawn by member for each year of service, without limit.

For Non-Management staff:

One month''s salary last drawn by member for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

For Field staff (PSR):

15 days salary for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

6. Provident fund

The Company contributed Rs. 27,998,520 (previous year Rs. 31,019,778) towards provident fund during the year ended 31 March 2016.

The guidance on implementing AS 15, Employee Benefits (revised 2005) issued by Accounting Standard Board states that benefits involving employer established provident funds, which require interest shortfalls to be recompensed are to be considered as defined benefits plans. The Actuarial Society of India has issued the final guidance for measurement of provident fund liabilities for the year ended 31 March 2016. The actuary has accordingly provided a valuation and based on the below provided assumptions there is no shortfall as at 31 March 2016.

7. Management believes that the Company has established a comprehensive system of maintenance of information and documents as required by the transfer pricing legislation under sections 92-92F of the Income Tax Act, 1961. Management is of the opinion that its international transactions are at arm''s length so that the aforesaid legislation will not have any impact on the financial statements, particularly on the amount of tax expenses and that of provision for taxation.

8. In 2013-2014, the Promoter Company (AstraZeneca Pharmaceuticals AB, Sweden), vide its letter dated 1 March 2014 had proposed voluntary delisting (the delisting proposal) offer to the public shareholders of the Company in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Delisting Regulations), with a view to delist the equity shares of the Company from the BSE Ltd. (BSE) and the National Stock Exchange of India Ltd. (NSE) where the equity shares of the Company are listed. The Board of Directors of the Company, in their meeting dated 15 March 2014 approved the delisting proposal submitted by the Promoter Company. Further, the Delisting Proposal was approved by the requisite majority of shareholders of the Company as required under Regulation 8 of SEBI (Delisting of Equity Shares) Regulations, 2009.The Company received in-principle approval of National Stock Exchange and Bombay Stock Exchange for voluntary delisting of equity shares from the said exchanges.

A writ petition has been filed by two shareholders of the Company before the Honourable High Court of Judicature at Bombay (''''the Court''''), seeking inter-alia an order from the Court, restraining the Company and AstraZeneca Pharmaceuticals AB, Sweden (''AZPAB") from implementing the delisting proposal of AZPAB. The Court which heard the petition on 8 October 2014 has disposed the same, with the directions that the Petitioners as well as the Company and AZPAB are at liberty to prefer appeal against Securities Exchange Board of India (SEBI) Order dated 24 June 2014, to the Securities Appellate Tribunal, within six weeks; until the SAT hears and disposes of the Petitioners" appeal, the Company and AZPAB, shall not take any further steps in the process of delisting of equity shares of the Company; and the SAT to hear and decide the appeals as expeditiously as possible and preferably by 28 February 2015. Further, an appeal has also been filed by two shareholders of the Company before the Securities Appellate Tribunal (SAT), Mumbai, against part of SEBI''s Order dated 24 June 2014, in relation to delisting proposal of AZPAB. At the hearing held on 5 May 2015, the SAT posted the matter to be heard on 9 July 2015 which was subsequently rescheduled for hearing on 11 August 2015. In the final hearing held on 11 September 2015, the SAT has disposed off the appeal directing SEBI to complete the investigation within a period of six months from date of its order and pass appropriate order on merits. The SAT has further directed the Company and the Promoter not to proceed with the delisting of equity shares till the completion of investigation and passing of the above mentioned order on merits by SEBI. Also the SAT has directed the Company and the Promoters that if the order passed by SEBI on merits is adverse to the appellants, then the said order shall not be given effect to from the date of passing the said order till it is communicated to the appellants and four weeks thereafter.

9. During the previous year ended 31 March 2015, the Company entered into agreements with group companies - AstraZeneca UK, London (AZ UK), AstraZeneca AB, Sweden (AZ PAB) IPR Pharmaceuticals Inc. Puerto Rico (AZ IPR). As per the terms and conditions, the Company will receive reimbursement of certain costs incurred for the marketing and promotion of the new launch products and support for the distribution of other products supplied by group companies, in accordance with the arm''s length return on revenues. Accordingly, the Company billed '' 677,579,383 to the group companies during the year ended 31 March 2015.Out of the total amount, Rs. 201,270,355 was towards the reimbursement of certain costs incurred for the marketing and promotion of the new launch product and the balance amount aggregating Rs. 476,309,028 towards support for the distribution of other products supplied by group companies, in accordance with the arm''s length return on revenues. The amount billed towards the transfer pricing adjustment had been accounted as other operating income and the reimbursement towards marketing and promotion cost has been reduced from the respective expenses.

Further, during the current quarter and year ended 31 March 2016, the Company has incurred Rs. 124,803,318 towards certain costs for the marketing and promotion of a new launch product. As the upfront fees received during the year for distribution and service agreements exceeds the expenses incurred towards marketing and promotion of the new launch product, the same have not been billed to the Group companies in the current year.


Mar 31, 2015

1 Contingent liabilities

(a) Claims against the company not acknowledged as debt

(Amount in Rs.) Particulars As at As at 31 March 2015 31 March 2014

Excise and service tax matters* 26,311,359 17,782,367

Income tax related # (net of payment under protest) 76,046,266 103,284,455

* The Company has received a service tax demand of Rs. 23,508,332 for the period April 2006 to March 2012, on the expenditure incurred in foreign currency for various expenses such as registration fee, transportation, accommodation for attending different conferences / seminars, meetings and trainings. The Commissioner vide OIO 62/2014 confirmed the demand along with interest and penalties, against which the Company has filed an appeal with Customs Excise and Service Tax Appellate Tribunal ("CESTAT") on 8 January 2015.

* The Company has received a service tax demand of Rs. 2,803,027 for the period April 2012 to March 2013, on the expenditure incurred in foreign currency for various expenses such as registration fee, transportation, accommodation for attending different conferences / seminars, meetings and trainings. The final order has been passed by Commissioner (Appeals) confirming the demand along with interest and penalties, against which the Company has filed an appeal with CESTAT on 17 March 2015.

# The Transfer Pricing Officer ("TPO") vide its Order for the period April 2008 to March 2009 made an adjustment to the clinical trial segment of the Company by determining the arm's length margin at 43.73%. Moreover, the Assessing Officer ("AO") carried out adjustments relating to disallowance of provision for doubtful advances, difference between interest income as per books and TDS certificate and disallowance of expenses in respect of sample distribution, grants, sponsorship, medical donations and equipment donation. The Dispute Resolution Panel passed an unfavorable order on 19 November 2013 after which the AO confirmed the demand vide its Order dated 30 December 2013 amounting to Rs. 84,299,533. The Company filed a submission before the Income Tax Appellate Tribunal ("ITAT") on 28 February 2014. 50% of the total demand has been deposited as per the order of the AO amounting to Rs. 42,149,717. The stay order on the balance tax demand expired on 4 August 2014, for which the Company filed an application with the ITAT. The Bench heard both the parties and decided to club the stay matter along with the main hearing to be held on 2 June 2015.

# The TPO vide its Order for the period April 2010 to March 2011 made an adjustment to the clinical trial segment of the Company. Moreover, the AO carried out adjustments relating to disallowance of provision for doubtful advances, difference between interest income as per books and TDS certificate and disallowance of expenses in respect of sample distribution, grants, sponsorship, medical donations and equipment donation. The Company has filed an appeal with the Dispute Resolution Panel on 27 March 2015 and is currently awaiting hearing on the same. The amount demanded as per the order is Rs. 33,896,450.

The Company is not carrying any provision for all the above mentioned amounts in its books of account, as the Company is confident of successfully litigating the matters.

(c) Others

The Company had received a notice from Bruhat Bangalore Mahanagara Palike (BBMP) on 5 November 2012 demanding a payment of Rs. 155,804,930 as development charges for its factory land. The Company had filed a writ petition in the Honourable High Court of Karnataka challenging the levy of the aforesaid development charges and accordingly on 25 February 2013, the Company received a stay from the Honourable High Court of Karnataka on the payment of the aforesaid development charges. There is no further development during the year.

During the current year, the Company has received a notice dated 07 August 2014 from Bruhat Bangalore Mahanagara Palike (BBMP) demanding Rs. 70,820,430 as improvement charges for its factory land. The Company has filed a writ petition in the Honourable High Court of Karnataka challenging the levy of aforesaid improvement charges. Accordingly on 11 February 2015, the Company has received a stay from Honourable High Court of Karnataka for the execution of demand notice. The case is yet to be listed before the Honourable High Court of Karnataka for hearing as on date.

2. Related parties

(i) Names of related parties and description of relationship:

Holding Company AstraZeneca Pharmaceuticals AB, Sweden

Holding Company of AstraZeneca

Pharmaceuticals AB, Sweden AstraZeneca AB, Sweden

Holding Company of AstraZeneca AB, Sweden AstraZeneca Treasury Limited, United Kingdom

Ultimate Holding Company AstraZeneca Plc, United Kingdom

Fellow subsidiaries AstraZeneca SDN Bhd, Malaysia;

AstraZeneca Singapore Pte Ltd, Singapore;

AstraZeneca Philippines;

AstraZeneca Belgium;

AstraZeneca India Private Limited;

PT AstraZeneca Indonesia;

AstraZeneca Pty Ltd, Australia;

AstraZeneca China;

AstraZeneca Pharmaceuticals LP USA;

AstraZeneca Thailand;

IPR Pharmaceuticals Inc;

AstraZeneca KK, Japan;

AstraZeneca Korea;

AstraZeneca Vietnam;

AstraZeneca GmbH;

AstraZeneca Ltd, United Kingdom;

Key management personnel

* Managing Director Sanjay Murdeshwar (appointed w.e.f 2 May 2013)

* Whole-time director Robert Ian Haxton (resigned w.e.f 14 December 2014)

* Directors Ian Brimicombe

Justin Ooi (appointed w.e.f 2 May 2013)

Rebekah Martin (appointed w.e.f 3 November 2014)

The primary segments of the Company are its business segments as follows:

(i) Healthcare - The Company engages in the manufacture, trading and sale of pharmaceutical products.

(ii) Clinical trial services - The Company renders clinical trial services on pharmaceuticals products to its group companies.

(iii) Co-promotional services - The Company rendered co-promotion services for pharmaceuticals products to Bristol Myers Squibb India Private Limited (BMS) till 31 January 2014. Effective 1 February 2014, AstraZeneca Group Companies has acquired the Global Diabetic business of Bristol-Myers Squibb Company. Consequent to the aforesaid acquisition, the Company has entered into a consignment sale agreement with BMS and accordingly sale of diabetic products by BMS in India for the periods post 1 February 2014 has been included as a part of sales of the Company.

The accounting policies consistently used in the preparation of the financial statements are also applied to record revenue and expenditure in individual segments.

Revenue and direct expenses in relation to segments are categorised based on items that are individually identifiable to that segment, while other costs, wherever allocable, are apportioned to the segments on an appropriate basis. Certain income and expenses are not specifically allocable to individual segments as the underlying assets and services are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such income and expenses and accordingly such expenses are separately disclosed as 'unallocated' and directly charged against total income.

Assets and liabilities in relation to segments are categorised based on items that are individually identifiable to that segment. Certain assets and liabilities are not specifically allocable to individual segments as these are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such assets and liabilities and accordingly these are separately disclosed as 'unallocated'. Assets are primarily located in India.

Clinical trial services and co-promotion services do not qualify as separate segments as defined in AS - 17 - 'Segment Reporting' and hence have been disclosed as others.

The Company is obligated under non-cancellable operating leases for residential and office premises. Total rental expense under non-cancellable operating leases amounted to Rs. 22,122,059 (previous year: Rs. 17,970,905) for the year ended 31 March 2015.

The Company is also obligated under cancellable lease for residential and office premises, which are renewable at the option of lessor and lessee. Total rental expense under cancellable operating lease entered amounted to Rs. 63,307,901 (previous year: Rs. 60,908,400) for the year ended 31 March 2015.

Further the Company is obligated under operating lease agreements for vehicles. Total lease rental expense under the said agreement amounted to Rs. 647,120 (previous year: Rs. 2,077,881) for the year ended 31 March 2015.

3. Employee stock compensation plan [AstraZeneca Plc., UK Restricted Stock Units]

The Holding Company, AstraZeneca Plc. United Kingdom (AZUK), listed on London Stock Exchange had introduced a Long-Term Incentive Stock Compensation Plan in the form of Restricted Stock Units (RSUs) to attract and retain the best people. As per the plan, the awards granted to individuals are AstraZeneca Ordinary Shares registered and purchased on the London Stock Exchange. One restricted stock represents one AZUK share. When the stock vests after three years, restricted stock are automatically exchanged for the same number of AZUK shares. Moreover, the RSUs do not expire. There is no performance criteria. After the vesting period, the employees are free to either hold or sell the shares.

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the 'Micro, Small and Medium Enterprises Development Act, 2006 ('the Act'). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at 31 March 2015 has been made in the financial statements based on information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date.

4. Gratuity plan

The Company has the following defined Gratuity plan.

Leaving service benefit:

Eligibility for benefit: Every employee who has completed 3 years or more of service would be eligible for gratuity benefit as per the terms of the Trust Deed.

For Management staff:

Completed years of service (years) Number of days eligible for every completed year of service (days)

3 to 9 15 days salary subject to maximum limit as per Gratuity Act, 1972

10 to 14 3/4th of month's salary, without limit

15 and above One month's salary for every year of service, without limit

For Non-Management staff:

15 days salary for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

Normal retirement benefit, death and disability benefit:

For Management staff:

One month's salary last drawn by member for each year of service, without limit.

For Non-Management staff:

One month's salary last drawn by member for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

The Company contributed Rs. 31,019,778 (previous year Rs. 36,098,407) towards provident fund during the year ended 31 March 2015.

The guidance on implementing AS 15, Employee Benefits (revised 2005) issued by Accounting Standard Board states that benefits involving employer established provident funds, which require interest shortfalls to be recompensed are to be considered as defined benefits plans. The Actuarial Society of India has issued the final guidance for measurement of provident fund liabilities for the year ended 31 March 2015. The actuary has accordingly provided a valuation and based on the below provided assumptions there is no shortfall as at 31 March 2015.

5. Management believes that the Company has established a comprehensive system of maintenance of information and documents as required by the transfer pricing legislation under sections 92-92F of the Income Tax Act, 1961. Management is of the opinion that its international transactions are at arm's length so that the aforesaid legislation will not have any impact on the financial statements, particularly on the amount of tax expenses and that of provision for taxation.

6. During the previous year, the Promoter Company (AstraZeneca Pharmaceuticals AB, Sweden), vide its letter dated 1 March 2014 had proposed voluntary delisting (the delisting proposal) offer to the public shareholders of the Company in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Delisting Regulations), with a view to delist the equity shares of the Company from the BSE Ltd. (BSE), Bangalore Stock Exchange Ltd. (BgSE) and the National Stock Exchange of India Ltd. (NSE) where the equity shares of the Company are listed. The Board of Directors of the Company, in their meeting dated 15 March 2014 had approved the delisting proposal submitted by the Promoter Company. Further, the Delisting Proposal has been approved by the requisite majority of shareholders of the Company as required under Regulation 8 of SEBI (Delisting of Equity Shares) Regulations, 2009.The Company has received in-principle approval of National Stock Exchange, Bombay Stock Exchange and Bangalore Stock Exchange, for voluntary delisting of equity shares from the said exchanges.

A writ petition has been filed by two shareholders of the Company before the Honourable High Court of Judicature at Bombay ("the Court"), seeking inter-alia an order from the Court, restraining the Company and AstraZeneca Pharmaceuticals AB, Sweden ("AZPAB") from implementing the delisting proposal of AZPAB. The Court which heard the petition on 8 October 2014 has disposed the same, with the directions that the Petitioners as well as the Company and AZPAB are at liberty to prefer appeal against Securities Exchange Board of India (SEBI) Order dated 24 June 2014, to the Securities Appellate Tribunal, within six weeks; until the SAT hears and disposes of the Petitioners' appeal, the Company and AZPAB, shall not take any further steps in the process of delisting of equity shares of the Company; and the SAT to hear and decide the appeals as expeditiously as possible and preferably by 28 February 2015. Further, an appeal has also been filed by two shareholders of the Company before the Securities Appellate Tribunal (SAT), Mumbai, against part of SEBI's Order dated 24 June 2014, in relation to delisting proposal of AZPAB. There has been no further update in the aforesaid case as on date. At the hearing held on 5 May 2015,the hearing has been posted on 9 July 2015.

7. During the financial year 2011-12, a First Information Report (FIR) was filed by the Central Bureau of Investigation ('CBI') against the Company on 23 February 2012 wherein it is alleged that the Company submitted a false affidavit with respect to rates quoted by the Company to the institution (Directorate of Health Services, Delhi). It is further alleged that unknown officers of the Directorate of Health Services, Delhi (DHS) and unknown officials of the Company and other private persons conspired to cancel the recovery proceedings by DHS. During the previous year, the investigation was concluded and a charge sheet was filed in the Court by CBI on 5 August 2013. Neither the Company nor any of its officials/ employees have been named as accused in the charge sheet.

8. During the current year, the Company entered into agreements with group companies - AstraZeneca UK, London (AZ UK) on 24 March 2015 , AstraZeneca AB, Sweden (AZ PAB) on 25 March 2015 and with IPR Pharmaceuticals Inc. Puerto Rico (AZ IPR) on 26 March 2015.The Company would receive from the group companies, the reimbursement of certain costs incurred for the marketing and promotion of the new launch products and support for the distribution of other products supplied by group companies, in accordance with the arm's length return on revenues. Accordingly, the Company has billed Rs. 677,579,383 to the group companies during the year ended 31 March 2015.Out of the total amount, Rs. 201,270,355


Mar 31, 2014

Terms and rights attached to equity shares

The Company has only one class of share referred to as equity shares having par value of Rs. 2 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the Annual General Meeting. During the current year, the amount of per share dividend recognised as proposed distributions to equity shareholders is Rs. Nil per share (previous year: Rs. Nil per share).

Short-term provisions

* includes the following:

a) Provision for direct and indirect taxes is utilised to settle adverse outcomes of cases against the Company. The provisions are based on an advices obtained by the Company. The Company, however, cannot estimate with reasonable certainty the period of utilisation of the same.

b) Provision for sales return made for expected loss on account of sales return. The provision are based on reliable estimate based on past experience of the Company. The Company, however, cannot estimate with reasonable certainty the period of utilisation of the same.

c) Rs. 111,314,431 (previous year Rs. 123,865,443) representing provision created towards expected charge backs from certain customers. The provision has been created based on best estimate by the management. The Company, however, cannot estimate with reasonable certainty the period of utilisation of the same. In respect of this provision, the disclosures required by Acconting Standard 29 on "Provisions, Contingent Liabilities and Contingent Assets" (AS 29) have not been provided in accordance with paragraph 72 of AS 29.

Other non-current assets

* Represents compensation receivable from National Highway Authority of India (NHAI) with respect to land acquired from the Company in the financial year 2004 and 2011-12. The amount expected to be recovered within a period of twelve months from the balance sheet date was disclosed in note 2.15 - Other current assets in the previous year.

During the current year, the Company has received an amount of Rs. 100,045,017 against land acquired by NHAI during the financial year 2011-12 as against the original award of Rs. 76,454,406, accordingly, the gain arising on account of receipt of enhanced compensation has been recognised under the head other income.

During the current year, the Company has also received the compensation amounting to Rs. 13,704,037 in relation to land acquired by NHAI in the year 2004.

Other expense

Consequent to subvention agreement (‘the agreement'') dated May 7, 2013 between the Company and AstraZeneca Pharmaceutical AB (‘the Promoter Company''), the Promoter Company had agreed to provide a voluntary non repayable financial grant of approximately USD 22.5 million (Indian rupee equivalent 1,386,000,000) to USD 26.5 million (Indian rupee equivalent 1,632,400,000) over the three years period - financial year 2013-14 to financial year 2015-16 in order to assist the Company in its efforts to establish/ grow its presence in the Indian market despite the apprehended losses that it may suffer. As per the terms of the agreement, the first tranche of USD 14 million (Indian rupee equivalent 862,400,000) has been agreed to be provided to the Company during the financial year 2013-14) and for subsequent financial years, the Promoter Company would, at its discretion decide the amount to be paid under this agreement, bearing in mind the need for continuing this support and upon reviewing the Company''s financial position. Accordingly, the Company received the first tranche of USD 14 million (Indian rupee equivalent 862,400,000) during the current year.

The Promoter Company vide its letter dated March 1, 2014 informed the Board of Directors of the Company regarding the revision to the agreement, whereby restricting the payment under the agreement to USD 14 million and period covered under the agreement to financial year 2013-14. Accordingly, the Promoter Company vide letter dated April 25, 2014 has terminated the agreement effective March 25, 2014 on the grounds that the Company''s business and financial performance has been inline with more recent expectations, and that the Company shall not require any further grant for the financial years 2014-15 and 2015-16. Consequent to the termination of the agreement, out of the total subvention receipt amounting to USD 14 million (Indian rupee equivalent 862,400,000), the Company has credited subvention receipt amounting to Rs. 138,889,547 representing loss incurred by the Company for the current year to the statement of profit and loss and the balance subvention receipt amounting to Rs. 723,510,453 has been transferred to capital reserve.

Contingent liabilities

(a) Claims against the company not acknowledged as debt

(Amount in Rs.Rs.) Particulars As at As at 31 March 2014 31 March 2013

Excise and service tax matters 17,782,367 12,121,052 Income tax related 103,284,455 79,727,230

(b) Guarantees (Amount in Rs.)

Particulars As at As at 31 March 2014 31 March 2013

In respect of bank and other guarantees 26,913,831 25,263,035

(c) Others

The Company had received a notice from Bruhat Bangalore Mahanagara Palike (BBMP) on November 5, 2012 demanding a payment of Rs. 155,804,930 as development charges for its factory land. The Company has filed a writ petition in the Honorable High Court of Karnataka challenging the levy of the aforesaid development charges and accordingly on February 25, 2013, the Company received a stay from the Honorable High Court of Karnataka on the payment of the aforesaid development charges.

Details of goods manufactured and traded

Notes:

1. Stock indicated above is net of provision to bring down the value of the inventories to their net realisable values and to account for obsolescence and includes stock inventory held for distribution as samples.

2. Turnover indicated above is net of excise duty.

3. Previous year figures are given in brackets.

Segment Reporting

The primary segments of the Company are its business segments as follows:

(i) Healthcare - The Company engages in the manufacture, trading and sale of pharmaceutical products.

(ii) Clinical trial services - The Company renders clinical trial services on pharmaceuticals products to its group companies.

(iii) Co-promotional services - The Company rendered co-promotion services for pharmaceuticals products to Bristol Myers Squibb India Private Limited (BMS) till January 31, 2014. Effective February 1, 2014, AstraZeneca Group Companies has acquired the Global Diabetic business of Bristol-Myers Squibb Company. Consequent to the aforesaid acquisition, the Company has entered into a consignment sale agreement with BMS and accordingly sale of diabetic products by BMS in India for the period February 1, 2014 to March 31, 2014 has been included as part of the sales of the Company.

The accounting policies consistently used in the preparation of the financial statements are also applied to record revenue and expenditure in individual segments.

Revenue and direct expenses in relation to segments are categorised based on items that are individually identifiable to that segment, while other costs, wherever allocable, are apportioned to the segments on an appropriate basis. Certain income and expenses are not specifically allocable to individual segments as the underlying assets and services are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such income and expenses and accordingly such expenses are separately disclosed as ‘unallocated'' and directly charged against total income.

Assets and liabilities in relation to segments are categorised based on items that are individually identifiable to that segment. Certain assets and liabilities are not specifically allocable to individual segments as these are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such assets and liabilities and accordingly these are separately disclosed as ‘unallocated''. Assets are primarily located in India.

Note: Certain assets and liabilities of the Healthcare segment are interchangeably used for ‘Other'' segment for limited purposes. Identification of such assets and liabilities is not feasible. Hence, such assets have not been allocated to any segment.

Leases

The Company is obligated under non-cancellable operating leases for residential and office premises. Total rental expense under non-cancellable operating leases amounted to Rs. 17,970,905 (previous year: Rs. 16,563,098) for the year ended March 31, 2014.

The Company is also obligated under cancellable lease for residential and office premises, which are renewable at the option of lessor and lessee. Total rental expense under cancellable operating lease entered amounted to ? 60,908,400 (previous year: Rs. 49,378,022) for the year ended March 31, 2014.

Further the Company is obligated under operating lease agreements for vehicles. Total lease rental expense under the said agreement amounted to Rs. 2,077,881 (previous year: Rs. 1,227,418) for the year ended March 31, 2014.

Dues to Micro and Small Enterprises

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 26, 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the Micro, Small and Medium Enterprises Development Act, 2006 (‘the Act''). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at March 31, 2014 has been made in the financial statements based on information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date.

Provident fund

The Company contributed RS.36,098,407 (previous year RS. 33,143,402) towards provident fund during the year ended March 31, 2014.

The guidance on implementing AS 15, Employee Benefits (revised 2005) issued by Accounting Standard Boards that benefits involving employer established provident funds, which require interest shortfalls to be recompensed are to be considered as defined benefits plans. The Actuarial Society of India has issued the final guidance for measurement of provident fund liabilities for the year ended March 31, 2014. The actuary has accordingly provided a valuation and based on the below provided assumptions there is no shortfall as at March 31,2014.

* Management believes that the Company has established a comprehensive system of maintenance of information and documents as required by the transfer pricing legislation under sections 92-92F of the Income Tax Act, 1961. Management is of the opinion that its international transactions are at arm''s length so that the aforesaid legislation will not have any impact on the financial statements, particularly on the amount of tax expenses and that of provision for taxation.

* During the current year, the Promoter Company (AstraZeneca Pharmaceuticals AB, Sweden), vide its letter dated March 1, 2014 has proposed voluntary delisting (the delisting proposal) offer to the public shareholders of the Company in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Delisting Regulations), with a view to delist the equity shares of the Company from the BSE Ltd. (BSE), Bangalore Stock Exchange Ltd. (BgSE) and the National Stock Exchange of India Ltd. (NSE) where the equity shares of the Company are listed. The Board of Directors of the Company, in their meeting dated March 15, 2014 approved the delisting proposal submitted by the Promoter Company. Subsequent to the balance sheet date, the Board of Directors of the Company, in their meeting dated May 5, 2014 has approved circulation of postal ballots to the shareholders of the Company to obtain shareholders approval on the delisting proposal.

* During the previous year, Mr. Robert Ian Haxton, a foreign national was appointed as Whole time Director of the Company and accordingly the Company on May 2,2013 had filed an application with the Central Government under the Companies Act, 1956 seeking approval for his appointment; During the current year, the Company has received the approval from the Central Government for appointment of Mr. Robert Ian Haxton as Whole time Director. Further, the Company has received the Central Government approval for appointment of Mr. Sanjay Murdeshwar, a non-resident Indian as Managing Director of the Company with effect from May 2, 2013.

* Remuneration paid to Mr. Sanjay Murdeshwar (Managing Director effective May 2, 2013) and Mr. Robert Ian Haxton (Whole Time Director effective 6 February 2013) for the current year, and remuneration paid to Mr Robert Ian Haxton (Whole Time Director), Mr. Anandh Balasundaram (Managing Director until August 31, 2013) and Ms. Ruby Lau (Whole Time Director until February 27, 2013) for the financial year 2012-13 was in accordance with the approval of the Board of Directors and the Remuneration Committee. The shareholders approval has also been obtained at the Annual General Meeting held on August 20, 2013.

* During the financial year 2011-12, a First Information Report (FIR) was filed by the Central Bureau of Investigation (‘CBI'') against the Company on February 23, 2012 wherein it is alleged that the Company submitted a false affidavit with respect to rates quoted by the Company to the institution (Directorate of Health Services, Delhi). It is further alleged that unknown officers of the Directorate of Health Services, Delhi (DHS) and unknown officials of the Company and other private persons conspired to cancel the recovery proceedings by DHS. During the current year, the investigation was concluded and a charge sheet was filed in the Court by CBI on August 5, 2013. Neither the Company nor any of its officials/employees have been named as accused in the charge sheet.


Mar 31, 2013

1.1 Contingent liabilities

(a) Claims against the company not acknowledged as debt

(Amount in Rs.)

Particulars As at As at 31 March 2013 31 March 2012

Excise and service tax matters 12,121,052 2,665,077

Income tax related 79,727,230 -

(b) Guarantees

In respect of bank and other guarantees 25,263,035 18,341,417

(c) Others

The Company had received a notice from Bruhat Bangalore Mahanagara Palike (BBMP) on 5 November 2012 demanding a payment of Rs. 155,804,930 as development charges for its factory land. The Company has filed a writ petition in the Honorable High Court of Karnataka challenging the levy of the aforesaid development charges and accordingly on 25 February 2013, the Company received a stay from the Honorable High Court of Karnataka on the payment of the aforesaid development charges.

1.2 Sale of products for the year ended 31 March 2012 is net of prior period charge amounting to Rs. 143,000,000. This prior period charge pertains to expected charge back from customers for sales made in prior years.

1.3 Research expenditure (including depreciation) amounting to Rs. Nil (previous year: Rs. 14,412,244) incurred during the year has been charged to the respective heads of account in the statement of profit and loss.

1.4 Related parties

(i) Names of related parties and description of relationship:

Holding company AstraZeneca Pharmaceuticals AB, Sweden

Holding company of AstraZeneca

Pharmaceuticals AB, Sweden AstraZeneca AB, Sweden

Holding company of AstraZeneca AB, Sweden AstraZeneca Treasury Limited, United Kingdom

Ultimate holding company AstraZeneca Plc, United Kingdom

Fellow subsidiaries AstraZeneca SDN Bhd, Malaysia;

AstraZeneca Singapore Pte Ltd, Singapore; AstraZeneca Philippines;

AstraZeneca Belgium;

AstraZeneca India Private Limited;

PT AstraZeneca Indonesia;

AstraZeneca Pty Ltd, Australia;

AstraZeneca China;

AstraZeneca Pharmaceuticals LP USA;

AstraZeneca Thailand; and IPR Pharmaceuticals Inc

Key management personnel

- Managing Director Anandh Balasundaram (resigned w.e.f 31 August 2012)

- Whole-time director Ruby Lau (resigned w.e.f 27 February 2013) Robert Ian Haxton (appointed w.e.f 6 February 2013)

- Directors Ian Brimicombe

Luigi Felice Lacorte

1.4 Segment reporting

The primary segments of the Company are its business segments as follows:

(i) Healthcare - The Company engages in the manufacture, trading and sale of pharmaceutical products.

(ii) Clinical trial services - The Company renders clinical trial services on pharmaceutical products to its group companies.

(iii) Co-promotional services - The Company renders co-promotion services for pharmaceutical products to its customers.

The accounting policies consistently used in the preparation of the financial statements are also applied to record revenue and expenditure in individual segments.

Revenue and direct expenses in relation to segments are categorised based on items that are individually identifiable to that segment, while other costs, wherever allocable, are apportioned to the segments on an appropriate basis. Certain income and expenses are not specifically allocable to individual segments as the underlying assets and services are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such income and expenses and accordingly such expenses are separately disclosed as ''unallocated'' and directly charged against total income.

Assets and liabilities in relation to segments are categorised based on items that are individually identifiable to that segment. Certain assets and liabilities are not specifically allocable to individual segments as these are used interchangeably. The Company therefore believes that it is not practicable to provide segment disclosures relating to such assets and liabilities and accordingly these are separately disclosed as ''unallocated''. Assets are primarily located in India.

Clinical trial services and co-promotion services do not qualify as separate segments as defined in AS - 17 - ''Segment Reporting'' and hence have been disclosed as others.

1.5 Leases

The Company is obligated under non-cancellable operating leases for residential and office premises. Total rental expense under non-cancellable operating leases amounted to Rs. 16,563,098 (previous year: Rs. 6,010,958 ) for the year ended 31 March 2013.

The Company is also obligated under cancellable lease for residential and office premises, which are renewable at the option of lessor and lessee. Total rental expense under cancellable operating lease entered amounted to Rs. 49,378,022 (previous year: Rs. 38,276,322 ) for the year ended 31 March 2013.

Further the Company is obligated under operating lease agreements for vehicles. Total lease rental expense under the said agreement amounted to Rs. 1,227,418 (previous year: Rs. 1,857,704) for the year ended 31 March 201 3.

1.6 Forward contracts entered for the hedging purpose, which were outstanding as on 31 March 2013 amounted to Rs. Nil (previous year: Rs. Nil). Foreign currency exposure as on 31 March 2013, which was not hedged, are as follows:

1.7 Dues to micro and small enterprises

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the Micro, Small and Medium Enterprises Development Act, 2006 (''the Act''). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at 31 March 2013 has been made in the financial statements based on information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date.

1.8 Gratuity plan

The Company has the following defined Gratuity plan.

Leaving service benefit:

Eligibility for benefit: Every employee who has completed 3 years or more of service would be eligible for gratuity benefit as per the terms of the Trust Deed.

For Non-Management staff:

15 days salary for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972. Normal retirement benefit, death and disability benefit:

For Management staff:

One month''s salary last drawn by member for each year of service, without limit.

For Non-Management staff:

One month''s salary last drawn by member for each year of service, subject to maximum limit specified as per the Gratuity Act, 1972.

1.9 Provident fund

The Company contributed Rs. 33,143,402 (previous year Rs. 29,086,637) towards provident fund during the year ended 31 March 2013.

The guidance on implementing AS 15, Employee Benefits (revised 2005) issued by Accounting Standard Boards that benefits involving employer established provident funds, which require interest shortfalls to be recompensed are to be considered as defined benefits plans. The Actuarial Society of India has issued the final guidance for measurement of provident fund liabilities for the year ended 31 March 2013. The actuary has accordingly provided a valuation and based on the below provided assumptions there is no shortfall as at 31 March 2013.

1.10 Management believes that the Company has established a comprehensive system of maintenance of information and documents as required by the transfer pricing legislation under sections 92-92F of the Income Tax Act, 1961. Management is of the opinion that its international transactions are at arm''s length so that the aforesaid legislation will not have any impact on the financial statements, particularly on the amount of tax expenses and that of provision for taxation.

1.11 The Board of Directors of the Company at its meeting held on 21 May 2013, approved the financial statements for the year ended 31 March 2013.

1.12 Mr Robert Ian Haxton, a foreign national was appointed as Whole time Director of the Company during the year. Subsequent to the balance sheet date, on May 2, 2013, the Company has filed an application with the Central Government under the Companies Act, 1956 seeking approval for his appointment; The application is pending before the Central Government. Further, approval of the shareholders in general meeting by a special resolution pursuant to the applicable provisions of Schedule XIII to the Companies Act, 1956 for his appointment as Wholetime Director and for the payment of remuneration to him will be sought at the ensuing Annual General Meeting.

1.13 In absence of profits for the year ended 31 March 2013, the remuneration committee has, pursuant to the applicable provisions of Schedule XIII to the Companies Act, 1956, approved the remuneration of Rs. 23 million paid to Mr Anandh Balasundaram, the former Managing Director for the period from 1 April 2012 to 31 August 2012 (date of his resignation) and Ms Ruby Lau, the former Whole Time Director for the period from 1 April 2012 to 27 February 2013 being the date of resignation. The expense has been charged to the statement of profit and loss for the year ended 31 March 2013. The remuneration is subject to the requisite approval of the shareholders.

1.14 At the end of the financial year 2011-12, the factory experienced interruptions to the supply of certain products. The Company has invested, and continues to invest, resources to remediate these interruptions. As a result of the remediation being carried out, the Company has succeded in gradually returning a majority of the products to the market. Revenues and the financial results for the current year ended 31 March 2013 were thus impacted.

1.15 During the previous year, a First Information Report (FIR) was filed by the Central Bureau of Investigation against the Company on 23 February 2012 wherein it is alleged that the Company submitted a false affidavit with respect to rates quoted by the Company to the institution (Directorate of Health Services, Delhi). It is further alleged that unknown officers of the Directorate of Health Services, Delhi (DHS) and unknown officials of the Company and other private persons conspired to cancel the recovery proceedings by DHS. The Company is fully cooperating with the ongoing investigations.

1.16 In order to assist the Company in its efforts to establish/grow its presence in the Indian market despite the significant losses incurred, AstraZeneca Pharmaceuticals AB Sweden, the promoter of the Company, has agreed to provide a voluntary non repayable financial grant of approximately USD 22.5 million (Indian rupee equivalent 1,192 million) to USD 26.5 million (Indian rupee equivalent 1,404 million) over the three years period financial year 2013-14 to financial year 2015-16 under a Subvention Agreement dated 7 May 2013. The first tranche of USD 14 million (Indian rupee equivalent 740 million) has been agreed to be provided to the Company during the financial year 2013-14.

[Exchange rate of Rs. 53 per USD is used for the conversion above].

1.17 The financial statements are presented in Indian Rupees (Rs.).

1.18 Previous year''s figures have been regrouped/ reclassified as per the current year''s presentation for the purpose of comparability. The following significant regroupings/ reclassifications of the previous year figures have been made:

 
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