Tel: 7209011789 N. K. MITTAL & ASSOCIATES sss: CHARTERED ACCOUNTANTS iri Plaza, Opp Andheri Railway Station, Near Mc Donald's, Andheri (West ndassociates@gmacom /akm@akmital com /ca_mittalgereditimacom = Websit N. K. Mittal B.Com, FCA, LLB, EMBA ‘Mumbai - 400 058, www.nkmittal.com LIMITED REVIEW REPORT FOR THE PERIOD ENDED 30.06.2015 We have reviewed the accompanying statement of unaudited financial results of MARKSANS PHARMA LTD for the period ended 30™ June, 2015 except for the disclosures regarding ‘Public Shareholding’ and ‘Promoter and Promoter Group Shareholding’ which have been traced from disclosures made by the management and have not been audited by us. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, Engagements to Review Financial Statements issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not ‘express an audit opinion. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards! and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Clause 41 of the Listing Agreement including the manner in which it is to be disclosed, or that it contains any material misstatement. For N. K. MITTAL & ASSOCIATES: Chartered Accountants: Wael N.K.MITTAL_ (Proprietor) M.No.46785, Place: Mumbai Date: 08.08.2015Se ee ose] sper| seneve| sosose ine] wr] wor] ee] son) a0 some] sro] spe — sase| se | -vom| spl sez] wats ee er : vase] asa] sansa ns sax] ee] aes] as 8 —are| ft ooo] 2]T]RESTOR COMPLANTS an oe sae2015 eee (Freee sig esti Rarseing wei the ene gue 11 Te ebove resus havo boon fevawod ye Aust Commies and approved by ta Bead of Drecr ats meting ld on 08.08.2015. 2 ourine te quarter Marsa Phama i, heouph ts whl owned sbsidary Marsias Pham Me, as scaled 10% share al Tne Cp Larson Ie, Ne Yo Tee Cap iorstorie fort lent mecfatcer ond irate sf Ue generic parce eliniing CTC ond pm pesto as emanates eer SO usue plod tam t's US EDA approved oily in Faring, New York. Tine Cep Labratatas cise ero debt compary. Tins seatepe aun il hip Mansars to eand fe marutacuang ans mane capaiter ts the US markt, 8 The Consoleted Financial Statements include Financial Slatemets che subsidiaries Nova Pharmaceuticals Ausalasia Py Ld and Maksans Pharma (UK) Linked '5 The Company's primal engapd ina single business segment cf Martacing & Make of Pamaceucsl Formulas. © The nou oro quar ended Match 3.2018 ae he batanengTeucebetweon auld ues fapsct ofthe Wl rancal year endee arch 31,2085 anno enaustnépublshes yeortn eto gue uote December 1.204 bain the at te en of he ak aur of the Sc year 7 Preous yee ues have teen gioupee cantid uhetavar nesta, £9.39 aks thm comparable wih te cunt yar fae Fer! oo SALDANHA, ‘Managing Directo.ay Marksans Pharma Ltd. NEWS RE} 8° August 2015, Mumbai - India Performance Highlights. Ty % in quarter I, FY 2015-16, as com ‘tolast vear same quarter, © Consolidated Revenue grew to Rs 2101.59 * Mn in QI FY 2015-16. ‘© EBITDA grew by 22.45% to Rs 524.06 Mn for the quarter. EBITDA margin grew to 24.67% from 21.14% for the quarter. ‘+ Consolidated Net Profit after Tax was Rs 314.69 Mn for the Q1 FY 2015-16. '* Post — Tax profits up by 23.55% same quarter in the previous year. Business Highlights * US & North America Formulation business grew by 21.77% to Rs. 431.63 Mn from Rs. 354.47 Mn during Qi FY 2015-16. ‘* Europe, UK Formulation business grew to Rs.1332.40 Mn during Ql FY 2015- 16. ‘+ Australia & NZ business grew to Rs. 191.55 Mn during QI FY 2015-16. * Company achieved revenue of Rs.146.01Mn from Rest of World(Asia,Africa & CIS) Formulation business during Qi FY 2015-16, Rever res - Consolidated INR in million QUFY] QUFY 2014- 2015-16 15 US & North America — Formulations 431.63 35447 Europe, UK-Formulations 1332.40 1323.41 ‘Australia & NZ. - Formulations 191.55 188.79 Rest of World(ROW) - Africa, Asia & CIS-Formulations 146.01 157.28 Consolidated Revenue from operations 2101.59 2023.95 * Consolidated Revenue does not include revenue of Time-Cap Laboratories Inc. UE Renner wwwamarksanspharma.com Net ecnne gitime-Cay wratories Inc. uisition 4 ia. a Marksans Pharma Ltd. During the quarter, Marksans Pharma Limited has, through its wholly owned subsidiary, Marksans Pharma Inc., acquired 100% of the outstanding shares of Time-Cap Laboratories, Inc., a New York corporation having its principal office at 7 Michael ‘Avenue, Farmingdale, New York. ‘Time-Cap was founded in 1979 and is a leading manufacturer and marketer of solid dose ‘generic pharmaceuticals, including private label over-the-counter (“OTC”) medications, generic prescription drugs (“Rx”), and nutritional supplements. Time-Cap manufactures ‘over 50 unique products from its facility in Farmingdale, New York, including tablets, caplets, capsules and pellets. Time-Cap’s average annual revenue over the last four years is in excess of USD 30 million per annum, and it achieved an average annual adjusted EBITDA of approximately USD 4 million. The company presently has no debt. ‘Key Highlights > Time-Cap has a US FDA-approved manufacturing facility in Farmingdale, New York. > thas an experienced research and development team which over the years has optimized its production processes and introduced a number of new products > Time-Cap has developed differentiating manufacturing expertise, resulting in a key competitive advantage in the market place for extended and delayed-release products, and coating services. > ‘The company has substantial growth opportunities with a robust new product line in the pi Its capabilities with respect to extended-release products offer ‘opportunities to pursue ANDAS for high margin products > Time-Cap has an expert management team comprised of industry pioneers with deep expertise, as well as a loyal and technically sophisticated employee base. With its acquisition of Time-Cap, Marksans is strategically increasing its presence in the US market, which is the largest pharmaceutical market in the world. This transaction will be EPS accretive. ‘The Consolidated financial statement does not inelude financial statement of Time- Cap Laboratories Inc. About Marksans Pharma Limited Marksans Pharma Limited(www.marksanspharma.com) headquartered at Mumbai, India is engaged in Research, Manufecturing & Marketing of generic pharmaceutical formulation in the global markets. The company's manufacturing facilities are approved by several leading regulatory agencies like USFDA, UK MKRA, Australian TGA. The company’s robust product portfolio spreads over major therapeutic segments of CVS, NS, Anti-diabetic, Pain management, Gastroenterologicals and Anti-allergies. The company is marketing these products globally. Marksans Pharma Limited 11" Floor, “GRANDEUR”, Opp. Gundecha Symphony, ‘Vera desia Extension Road,Oshiwara, Andheri ~ West, Mumbai ~ 400 053, India Tel:- +91 22 4001 2000, Fax:- +91 22 4001 2011. CIN: L2410MH1992PLC066364 www.marksanspharma.com Marksans Pharma Ltd ct