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Balance Sheet - Dr Reddy's Laboratories Ltd ( Rs in Cr.

)
Particulars
EQUITY AND LIABILITIES
Shareholders funds
Share capital
Reserves and surplus
Total Shareholders Funds

2012

2010

849
76985
77834

848
66330
67178

Non current liabilities


Long term borrowings
Deferred tax liabilities, net
Other long term liabilities
Long term provisions
Total debt

635
937
28
298
1326

130
200
63
212
5605

Current liabilities
Short term borrowings
Trade payables
Long term loans and advances
Other current liabilities
Short term provisions
Total of current Liabilities

15828
7678
13011
4214
40731
119891

10204
7334
9844
3241
30623
103406

ASSETS
Non current assets
Fixed assets
Tangible asset
Intangible assets
Capital work-in-progress
Current investment
Inventories
Trade receivables
Cash and bank balances
Short term loans and advances
Other current assets
Total of current assets
Total

23355
515
4232
21826
19666
15265
29639
9191
8885
1307
66253
119891

18967
1
6176
22707
2070
13267
19435
8490
5298
677
49237
103406

P & L - Dr Reddy's Laboratories Ltd ( Rs in Cr.)


Income
Gross Sales
Less:- Excise duty
Net Sales
Service income
License fees
Other operating revenue
Revenue from operation
Other income
Total revenue
Expenses
Cost of material consumed
Purchase of stock-in-trade
Changes in inventories of finished goods, work-in-progress and stock-in-trade
Finance costs
Conversion charges
Excise duty
Employee benefits expense
Research and development
Other expenses
Provision for other than temporary diminution in the value of long-term investements
Total expenses
Operating Profit
Interest
Gross Profit
Depreciation
Impairment of goodwill and intangibles
Profit Before Tax
Tax
Fringe Benefit Tax
Deferred Tax
Net Profit

2012

2011

81,462
718
80,744
388
1,315
1,893
84,340
1,417

66,443
405
66,038
530
110
719
67,397
818

85,757

68,215

22,773
3,931
1,006
592
636
11,381
614
6,509
19,444
223
68,225

17,386
3,076
1,048
505
534
8,661
636
5,813
15,124
1,925
55,623

17,532
933
16,599
3,128
688
12,783
4140
0
737
7,906

12,592
614
11,978
3,011
0
8,967
4275
0
807
3,885

P & L - Dr Reddy's Laboratories Ltd ( Rs in Cr.)


Income
Gross Sales
Less:- Excise duty
Net Sales
Service income
License fees
Other operating revenue
Revenue from operation
Other income
Total revenue
Expenses
Cost of material consumed
Purchase of stock-in-trade
Changes in inventories of finished goods, work-in-progress and stock-in-trade
Conversion charges
Excise duty
Employee benefits expense
Finance costs
Research and development
Other expenses
Provision for other than temporary diminution in the value of long-term investements
Total expenses
Operating Profit
Interest
Gross Profit
Depreciation
Impairment of goodwill and intangibles
Profit Before Tax
Tax
Fringe Benefit Tax
Deferred Tax
Net Profit

2012
81462
718
80744
388
1315
1893
=SUM(B5:B8)
1417

2011
66443
405
66038
530
110
719
=SUM(C5:C8)
818

85757

68215

22773
3931
1006
592
636
11381
614
6509
19444
223
68225

17386
3076
1048
505
534
8661
636
5813
15124
1925
55623

=B11-B24
933
=B26-B27
3128
688
=B28-B29-B30
4140
0
737
=B31-B32-B33-B34

=C11-C24
614
=C26-C27
3011
0
=C28-C29
4275
0
807
=C31-C32-C33-C34

Increase
=B3-C3
=B4-C4
=B5-C5
=B6-C6
=B7-C7
=B8-C8
=B9-C9
=B10-C10

YOY Change %
=D3/C3
=D4/C4
=D5/C5
=D6/C6
=D7/C7
=D8/C8
=D9/C9
=D10/C10

=B11-C11

=D11/C11

=B14-C14
=B15-C15
=B16-C16
=B17-C17
=B18-C18
=B19-C19
=B20-C20
=B21-C21
=B22-C22
=B23-C23
=B24-C24

=D14/C14
=D15/C15
=D16/C16
=D17/C17
=D18/C18
=D19/C19
=D20/C20
=D21/C21
=D22/C22
=D23/C23
=D24/C24

=B26-C26
=B27-C27
=B28-C28
=B29-C29
=B30-C30
=B31-C31
=B32-C32
=B33-C33
=B34-C34
=B35-C35

=D26/C26
=D27/C27
=D28/C28
=D29/C29
=D30/C30
=D31/C31
=D32/C32
=D33/C33
=D34/C34
=D35/C35

P & L - Dr Reddy's Laboratories Ltd ( Rs in Cr.)

Particulars
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments

2012
6780.2
93.9
6686.3
191.9
104.8

Total Income

6599.2

EXPENDITURE :Raw Materials


Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling & Administration Expenses
Miscellaneous Expenses

2122.9
177.5
831.2
163.1
1554.4
80.3

Total Expenditure

4929.4

Operating Profit
Interest
Gross Profit
Depreciation
Profit Before Tax
Tax
Net Profit

1861.7
69.2
1600.6
301.1
1259.2
346.8
912.4

2011
5285.8
97.3
5188.5
117
79

2010
4469.6
74
4395.6
254
117.3

2009
4080.4
80.9
3999.5
212.2
64.1

5384.5

4766.9

4275.8

1749.5
14436
702.7
129.5
1256.7
65

1599.4
104.1
516.4
117.3
1036.6
50.6

1534
90
412.5
105.9
1117.9
45.3

4048

3424.4

3305.6

1219.5
9.9
1326.6
247.9
1051.5
158.5
893.4

1088.5
16
1326.5
222.4
1084.7
238.7
846.1

758
27.4
942.8
193.6
729.4
168.6
560.9

2008
3428.4
84.51
3343.89
197.29
93.87
3635.5

1347.33
77.12
366.28
130.35
896.54
37.44
2855.06
582.7
14.69
765.3
161.99
582.54
108.88
475.22

INCOME :
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
EXPENDITURE :
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Administration Expenses
Miscellaneous Expenses
Total Expenditure
Operating Profit
Interest
Gross Profit
Depreciation
Profit Before Tax
Tax
Net Profit

2012
=B5/$B$11
=B6/$B$11
=B7/$B$11
=B8/$B$11
=B9/$B$11

2011
=C5/$C$11
=C6/$C$11
=C7/$C$11
=C8/$C$11
=C9/$C$11

2010
=D5/$D$11
=D6/$D$11
=D7/$D$11
=D8/$D$11
=D9/$D$11

2009
=E5/$E$11
=E6/$E$11
=E7/$E$11
=E8/$E$11
=E9/$E$11

2008
=F5/$F$11
=F6/$F$11
=F7/$F$11
=F8/$F$11
=F9/$F$11

=B11/$B$11

=C11/$C$11

=D11/$D$11

=E11/$E$11

=F11/$F$11

=B14/$B$11
=B15/$B$11
=B16/$B$11
=B17/$B$11
=B18/$B$11
=B19/$B$11

=C14/$C$11
=C15/$C$11
=C16/$C$11
=C17/$C$11
=C18/$C$11
=C19/$C$11

=D14/$D$11
=D15/$D$11
=D16/$D$11
=D17/$D$11
=D18/$D$11
=D19/$D$11

=E14/$E$11
=E15/$E$11
=E16/$E$11
=E17/$E$11
=E18/$E$11
=E19/$E$11

=F14/$F$11
=F15/$F$11
=F16/$F$11
=F17/$F$11
=F18/$F$11
=F19/$F$11

=B21/$B$11

=C21/$C$11

=D21/$D$11

=E21/$E$11

=F21/$F$11

=B23/$B$11
=B24/$B$11
=B25/$B$11
=B26/$B$11
=B27/$B$11
=B28/$B$11
=B29/$B$11

=C23/$C$11
=C24/$C$11
=C25/$C$11
=C26/$C$11
=C27/$C$11
=C28/$C$11
=C29/$C$11

=D23/$D$11
=D24/$D$11
=D25/$D$11
=D26/$D$11
=D27/$D$11
=D28/$D$11
=D29/$D$11

=E23/$E$11
=E24/$E$11
=E25/$E$11
=E26/$E$11
=E27/$E$11
=E28/$E$11
=E29/$E$11

=F23/$F$11
=F24/$F$11
=F25/$F$11
=F26/$F$11
=F27/$F$11
=F28/$F$11
=F29/$F$11

Trend Analysis

Income Statement
Total Income
Operating Expenses
Net Profit
Trend Analysis
Total Income
Operating Expenses
Net Profit

2008
3635.5
2855.1
475.22
2008
100%
100%
100%

2009
4275.8
3305.6
560.9
2009
118%
116%
118%

2010
4766.9
3424.4
846.1
2010
131%
120%
178%

2011
5384.5
4048
893.4
2011
148%
142%
188%

2012
6599.2
4929.4
912.4
2012
182%
173%
192%

600%

500%

400%

300%

200%

100%

0%

2008

2009

2010

Net Profit
Operating Expenses
Total Income

2010

2011

2012

Ratio Analysis - Dr.Reddy Laborataries Ltd.


Profitability Ratios
Gross Profit Margins

Gross Profit/Total sales

EBITDA Margins

EBIDTA/Total sales

EBIT Margins

EBIT/Total sales

Net Profit Margin

Net Profit/Total Sales

Activity Ratios
Inventory Turnover

Cost of goods sold/(average inventory)

Days of Inventory

365/inventory turnover

Receivables Turnover

Sales/(average receivables)

Days of Sales Outstanding

365/receivables turnover

Payables Turnover

Cost of goods sold/average payables

Days of Payables

365/payables turnover

Working Capital Turnover

Total sales/ average(current assets- current liabilities)

Fixed Asset Turnover

Total sales/average Fixed assets

Total asset Turnover

Total sales/average total assets

Equity Turnover

Total sales/Average Equity

Liquidity Ratios
Current Ratio

Current assets/current liabilities

Quick Ratio

(Cash +Marketable securities+receivables)/Current liabilities

Cash Ratio

(Cash+Marketable Securities)/Current Liabilities

Cash Conversion Cycle (Net Operating Cycle)

Days of inventory+Days of sales outstanding-days of payables

Return on Investments
Return on Assets (ROA)

Net profit/Average total assets

Return on Invested Capital (RoIC)

EBIDT/Average capital invested

Return on Stockholder's Equity (ROE)

PAT/Average Equity

Capital employed
Debt Ratios
Debt-to-Capital Ratio

Debt/(Debt+Networth)

Debt-to-Equity Ratio

Debt/Networth

Coverage Ratios
Interest Coverage Ratio

EBIT/interest

Debt Service Coverage Ratio


Earning per share

Net Profit/Equity

94%

93%

20%

18%

16%

14%

9%

6%

1.9

1.6

187.9

225.1

2.7

3.4

134.0

107.4

3.7

3.8

98.9

96.6

1.40

1.34

0.58

1.02

0.77

1.32

1.1

0.98

0.55

0.48

0.88

0.54

0.74

0.44

223.03

235.94

0.07
#REF!

0.08
#REF!

0.11

0.06

77834

67178

0.02

0.08

0.02

0.08

3129

3012

0.10

0.06

Dupont Anaylsis

Net Profit Margin


Asset Turnover Ratio
Equity Multiplier

9%
1.32
1.54

6%
1.32
0.77

Return on Equity

19%

6%