Overall revenues at Rs. 69.4 billion ($1.4 billion) in FY09 as against Rs. 50 billion ($983 million) in FY08, representinga growth o 39%.Operating income is at Rs. 11.2 billion ($220 million) in FY09 as against Rs. 5.4 billion ($107 million) in FY08 ateradjusting or non cash impairment o intangibles and goodwill.
EBITDA at Rs. 14.5 billion ($285 mn) in FY09 as against Rs. 9.7 billion ($190 mn) in FY08, representing a growth o 50%,higher than sales growth o 39%.
Key growth drivers:During the year, the company launched 116 new generic products, led 110 new generic product registrations andled 55 DMFs globally.
Global Generics
Revenues in India increase to Rs. 8.5 billion ($167 million) in FY09 rom Rs. 8.1 billion ($158 million), representing a growth o 5%.36 new products launched during the year.
Successul launch o the authorized generic version o GlaxoSmithKline’s Imitrex® (generic version:sumatriptan succinate), in late November 2008.
Excluding revenues rom Sumatriptan, YoY growth is at 24%, driven by the key markets o North America and Russia.
Revenues rom Global Generics business at Rs. 49.8 billion ($979 million) in FY09 as against Rs. 33.0 billion ($649 million) inFY08. YoY growth o 51% driven by Sumatriptan and key markets o North America and Russia.Revenues rom North America at Rs. 19.8 billion ($390 million) in FY09 as against Rs. 8.0 billion ($158 million) in FY08.Excluding revenues rom Sumatriptan, the growth o 58% in North America was driven by high volume growth acrossexisting top products and acquisition o Shreveport acility.Revenue rom Shreveport acility at Rs. 1.7 billion ($33 million) in FY09.
Revenues rom Europe at Rs. 11.9 billion ($234 mn) in FY09 as against Rs. 10.2 billion ($201 mn) in FY08, representing a growth o 16%.
Revenues rom betapharm increase by 20% to Rs. 9.9 billion ($194 mn) in FY09 rom Rs. 8.2 billion ($161 mn) in FY08.This increase was on account o volume growth in existing products and one-o seasonal vaccine sales in Q2 FY09Revenues rom Rest o Europe remain fat at Rs. 1.9 billion ($39 million) in FY09.During the year, the company launched 25 new products and led 11 dossiers across Europe.Revenues in Russia increase to Rs. 5.8 billion ($114 million) in FY09 as against Rs. 4.1 billion ($80 million) in FY08. YoYgrowth o 43% driven by key brands o Omez, Nise, Ketorol, Cetrine and Bion.Revenues in Other CIS markets increase to Rs. 1.8 billion ($36 million) in FY09 as against Rs. 1.5 billion ($29 million) inFY08. YoY growth o 25%.Revenues rom Russia & Other CIS markets at Rs. 7.6 billion ($150 million) in FY09 as against Rs. 5.5 billion ($109 million) inFY08, representing a growth o 38%.
Pharmaceutical Services & Active Ingredients (PSAI)
Revenues rom this segment increase to Rs. 18.8 billion ($369 million) in FY09 as against Rs. 16.6 billion ($327 million) in FY08.
YoY growth o 13% driven by growth in North America and RoW markets as well as beneft by depreciation o rupee against the dollar.
Revenue rom the business & acility acquired rom Dow Pharma at Rs. 1.0 billion ($20 million)in FY09.
During the year, 55 DMFs were fled globally (21 in US, 19 in Europe, 5 in Canada and 10 in RoW). Cumulative DMFs fled till date at 351.
Dr. Reddy’s Laboratories Ltd.www.drreddys.com
F Y 0 9
Revenue
Cost o Revenues
Gross ProftOperating Expenses
Selling, general & administrative expenses
(a)
Reserach and development expenses, netWrite down o intangible assetsWrite down o goodwillOther (income)/expenses, net
Total Operating ExpensesResults rom operating activities
Finance income
(b)
Finance expenses
(c)
Finance expenses, net
Share o prot/ (loss) o equity accountedinvestees
Proft beore income tax
Income tax expense
Proft or the periodAttributable to:
Equity holders o the companyMinority interest
Proft or the period
Weighted average no. o shares o/s
Diluted EPS
Exchange rate
FY09%%Growth%FY081,365
648
718
41379622135
773(56)
(9)33
23
0
(79)
(23)
(102)
(102)0
(102)(0.6)0.4169(30.7)50.8716922.850.87983
484
499
33169592(8)
453
46(31)21
(10)
0
56
19
75
76(0)
7569,441
32,941
36,500
21,0204,0373,16710,856253
39,333
(2,833)(482)1,668
1,186
24
(3,995)
(1,173)
(5,168)
(5,168)0
(5,168)50,006
24,598
25,408
16,8353,5333,01190(402)
23,067
2,341(1,601)1,080
(521)
2
2,864
972
3,8363,846
(10)
3,836100
47
53
3065160
57
(4)(1)2
20(6)
(2)
(7)
(7)0
(7)100
49
51
34760(1)
46
5(3)2
(1)
0
6
2
88
(0)
839
34
44
2514---71-(70)54-1,100------
All gures in millions, except EPSAll dollar gures based on convenience translation rate o 1USD = Rs 50.87
Dr. Reddy’s Laboratories Ltd. and SubsidiariesUnaudited Condensed Consolitated Interim Income Statement
(a) Includes amortization charges o Rs. 1,503 million in FY09 and Rs. 1,588 million in FY08.(b) Includes orex gain o Rs. 739 million in FY08.(c) Includes orex loss o Rs. 634 million in FY09.
Financial Updates
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Dr. Reddy's FY09 Financial Reckoner
This document is the financila reckoner for FY09 of Dr. Reddy's Laboratories Ltd.
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