Balanc

₹M
Particulrs
Equity an
Eq
(a) Equity Share Capital
(b) Share Suspense Account
(c) Other Equity
Equity attributable to the equity shareholders of the Company
Total equity
Liab
(1) Non-current liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Trade payables
(iii) Other financial liabilities
(b) Provisions
(c) Deferred tax liabilities (Net)
(d) Other non-current liabilities
Total non-current liabilities
(2) Current liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Trade payables
Total outstanding dues of micro enterprises and small enterprises
Total outstanding dues of creditors other than micro enterprises and small enterprises
Derivative instruments
Other financial liabilities
(b) Other current liabilities
(c) Provisions
(d) Current tax liabilities (Net)
Total current liabilities
Total liabilities
TOTAL EQUITY AND LIABILITIES

As

(1) Non-current assets

(a) Property, plant and equipment
(b) Capital work-in-progress
(c) Goodwill (Net)
(d) Other intangible assets
(e) Intangible assets under development
(f) Investment in equity accounted investees
(i) Financial assets
(i) Investments
(ii) Loans
 (iii) Other financial assets
(iv) Trade recievables
(j) Deferred tax assets (Net)
(k) Current tax assets (Net)
(l) Other non-current assets
Total non-current assets
(2) Current assets
(a) Inventories
(b) Financial assets
(i) Investments
(ii) Trade receivables
(iii) Derivative instruments
(iv) Cash and cash equivalents
(v) Loans and advances
(vi) Other financial assets
(c) Other current assets
(d) Current tax assets
Assets classified as held for sales
Total current assets
TOTAL ASSETS

Check
Weighted Average number of Shares used in computing Basic Earnings Per Share
(taking into account Equity Shares with respect to Share Suspense Account for previous year)
Add: Dilution effect of Employee Stock Options
Weighted Average number of Shares used in computing Diluted Earnings Per Share
Dividend
Nominal value per share (in `)
Basic Earnings Per Share (in `)
Diluted Earnings Per Share (in `)
 Balance Sheet
₹ Million
FY11 FY12 FY13 FY14 FY15 FY16 FY17
Equity and Liabilities
Equity
846.00 848.00 849.00 851.00 852.00 853.00 829.00

39,473.00 56,596.00 62,842.00 77,801.00 110,108.00 119,931.00 121,792.00

40,319.00 57,444.00 63,691.00 78,652.00 110,960.00 120,784.00 122,621.00
40,319.00 57,444.00 63,691.00 78,652.00 110,960.00 120,784.00 122,621.00
Liabilities

5,372.00 16,335.00 12,659.00 20,755.00 9,383.00 9,939.00 5,449.00

183.00
288.00 47.00 514.00 563.00 498.00 665.00 842.00
999.00 1,132.00 1,070.00 1,241.00 610.00 1,620.00
568.00 1,059.00 350.00 1,181.00 263.00 576.00 3,251.00
7,227.00 18,573.00 14,593.00 23,740.00 10,754.00 11,180.00 11,345.00

18,319.00 15,844.00 18,986.00 20,607.00 21,857.00 20,896.00 43,626.00

31.00
6,345.00 9,502.00 9,657.00 8,932.00 7,160.00 7,192.00 10,569.00
1,830.00 10.00
10,376.00 12,208.00 18,740.00
13,289.00 13,645.00 21,204.00 20,208.00 2,001.00 1,886.00 4,647.00
4,132.00 1,926.00 6,741.00 8,157.00 1,293.00 1,706.00 5,125.00
682.00 1,482.00
42,085.00 43,460.00 56,588.00 57,904.00 42,687.00 43,888.00 84,199.00
49,312.00 62,033.00 71,181.00 81,644.00 53,441.00 55,068.00 95,544.00
89,631.00 119,477.00 134,872.00 160,296.00 164,401.00 175,852.00 218,165.00

Assets
FY11 FY12 FY13 FY14 FY15 FY16 FY17

23,266.00 33,246.00 31,416.00 37,496.00 31,294.00 35,938.00 50,281.00

5,752.00 5,653.00 6,388.00 4,883.00 6,150.00 6,095.00
2,208.00 323.00 4,763.00
10,589.00 11,321.00 9,090.00 8,912.00 1,189.00 8,120.00 14,263.00
108.00 11.00 27,150.00
368.00 1,603.00

9.00 4.00 4.00 17,630.00 17,781.00 5,223.00

641.00 1,491.00 2,322.00 2,283.00 2,200.00 210.00
 429.00 479.00 829.00

1,224.00 1,965.00 1,742.00 1,917.00 635.00 6,784.00

417.00 1,576.00 1,491.00 3,388.00
209.00 610.00 613.00 739.00
41,481.00 49,525.00 49,605.00 57,039.00 60,002.00 73,741.00 121,328.00

15,992.00 19,352.00 21,707.00 24,188.00 17,233.00 16,996.00 28,528.00

1,966.00 10,664.00 29,761.00 32,980.00 14,271.00

17,611.00 25,339.00 31,804.00 33,253.00 47,077.00 38,895.00 37,986.00
7.00 264.00
5,751.00 7,379.00 20,171.00 23,006.00 675.00 2,021.00 3,865.00
8,284.00 8,613.00 10,989.00
10,773.00 988.00 2,889.00 1,432.00
512.00 6,518.00 1,006.00 1,157.00 8,665.00 8,330.00 10,491.00
584.00

48,150.00 69,952.00 85,267.00 103,257.00 104,399.00 102,111.00 96,837.00

89,631.00 119,477.00 134,872.00 160,296.00 164,401.00 175,852.00 218,165.00

0 0 0 0 0 0 0
FY18 FY19 FY20

830.00 830.00 831.00

124,886.00 139,406.00 155,157.00

125,716.00 140,236.00 155,988.00
125,716.00 140,236.00 155,988.00

25,089.00 22,000.00 1,304.00

144.00 102.00
817.00 793.00 745.00
1,950.00 473.00 20.00
2,789.00 2,079.00 2,055.00
30,789.00 25,447.00 4,124.00

25,562.00 12,125.00 16,532.00

93.00 77.00 55.00

13,252.00 13,594.00 15,193.00
85.00 68.00 1,602.00
19,497.00 22,670.00 27,006.00
1,530.00 181.00 572.00
4,387.00 4,789.00 4,669.00
4,532.00 5,469.00 6,512.00
68,938.00 58,973.00 72,141.00
99,727.00 84,420.00 76,265.00
225,443.00 224,656.00 232,253.00

FY18 FY19 FY20

49,733.00 49,127.00 47,779.00

7,678.00 4,725.00 4,364.00
5,331.00 4,659.00 4,913.00
14,616.00 18,124.00 15,811.00
27,027.00 24,610.00 10,987.00
2,104.00 2,529.00 2,763.00

2,549.00 813.00 328.00

169.00 113.00 1,737.00
 756.00 731.00 793.00

5,405.00 4,317.00 12,199.00

4,567.00 3,400.00 4,379.00
524.00 407.00 209.00
120,459.00 113,555.00 106,262.00

29,089.00 33,579.00 35,067.00

18,330.00 22,529.00 23,687.00

40,527.00 39,869.00 50,278.00
105.00 360.00 1,105.00
2,638.00 2,228.00 2,053.00

1,533.00 2,112.00 3,377.00

12,762.00 10,424.00 10,424.00

104,984.00 111,101.00 125,991.00

225,443.00 224,656.00 232,253.00

0 0 0
11.25
 Statement of Profit and
₹ Million
Particulars 2011 2012
Income
Sales 72,368.00 94,329.00
Service income and License fees 1,865.00 2,757.00
Other operating income 736.00 1,059.00
Total revenue from operations 74,969.00 98,145.00
Other income 523.00 1,323.00
Total income 75,492.00 99,468.00

Expenses
Cost of materials consumed 14,745.00 19,493.00
Purchase of stock-in-trade 7,194.00 7,182.00
Changes in inventories of fi nished goods, work-in-progress and stock-in-trade (1,645.00) (1,526.00)
Conversion charges 962.00 2,278.00
Excise Duty 617.00 534.00
Employee benefi ts expense 13,048.00 15,912.00
Depreciation and amortisation expense 3,981.00 5,181.00
Impairment of non-current assets 1,353.00
Research and Development cost 5,077.00 5,952.00
Finance costs 246.00 1,056.00
Selling and other expenses 19,439.00 24,009.00
Total expenses 63,664.00 81,424.00

Profit before tax and before share of equity accounted investees 11,828.00 18,044.00
Share of profit of equity accounted investees
Profit before tax 11,828.00 18,044.00
Tax expense/(benefi t)
Current tax 2,106.00 5,248.00
Deferred tax (267.00) (213.00)
Profit for the year 9,989.00 13,009.00
EPS in Rs 57.21 74.48
Dividend Payout % 19% 18%

PARTICULARS FY11 FY12

Global Generics 53,340 70,243
North America 18,996 31,889
Europe 8,431 8,259
India 11,690 12,931
Emerging Markets 14,223 17,164
Pharmaceutical Services and Active Ingredients (PSAI) 23,812 23,812
Proprietary Products & Others 2,682 2,682
Total 79,834 96,737

Percentge of Total Revenue Mix

PARTICULARS FY11 FY12
Global Generics 67% 73%
Pharmaceutical Services and Active Ingredients (PSAI) 30% 25%
Proprietary Products & Others 3% 3%
 Statement of Profit and Loss
₹ Million
2013 2014 2015 2016 2017 2018 2019
Income
114,215.00 130,895.00 147,026.00 152,475.00 138,663.00 138,022.00 148,706.00
2,603.00 1,912.00 2,058.00 2,233.00 2,146.00 4,006.00 5,145.00
2,138.00 1,346.00 1,149.00 975.00 1,152.00 782.00 631.00
118,956.00 134,153.00 150,233.00 155,683.00 141,961.00 142,810.00 154,482.00
1,499.00 1,697.00 2,741.00 2,950.00 1,715.00 1,552.00 3,375.00
120,455.00 135,850.00 152,974.00 158,633.00 143,676.00 144,362.00 157,857.00

Expenses
28,166.00 28,407.00 29,002.00 26,799.00 24,446.00 26,309.00 28,894.00
8,057.00 7,398.00 9,420.00 11,743.00 13,752.00 14,501.00 18,808.00
(1,685.00) (3,196.00) (558.00) (957.00) (1,233.00) (415.00) (2,754.00)
1,880.00 2,207.00 1,929.00 2,423.00
630.00
19,287.00 24,754.00 29,446.00 31,174.00 31,068.00 32,149.00 33,562.00
5,502.00 1,267.00 7,599.00 9,389.00 10,266.00 10,772.00 11,348.00
542.00 116.00
7,915.00
1,003.00 6,475.00 1,082.00 826.00 634.00 788.00 889.00
27,511.00 42,075.00 46,058.00 48,648.00 49,206.00 46,754.00 44,074.00
98,808.00 109,387.00 123,978.00 130,045.00 128,139.00 130,858.00 134,937.00

21,647.00 26,463.00 28,996.00 28,588.00 15,537.00 13,504.00 22,920.00

229.00 349.00 344.00 438.00
21,647.00 26,463.00 28,996.00 28,817.00 15,886.00 13,848.00 23,358.00

6,570.00 6,568.00 6,242.00 7,432.00 3,096.00 1,753.00 4,707.00

(191.00) 263.00 (610.00) 79.00 (131.00) 2,627.00 (849.00)
15,268.00 19,632.00 23,364.00 21,306.00 12,921.00 9,468.00 19,500.00
87.37 112.29 133.04 124.89 77.93 57.04 117.47
17% 16% 15% 16% 26% 35% 18%

FY13 FY14 FY15 FY16 FY17 FY18 FY19

82,563 105,164 119,398 128,062 115,409 114,014 122,903
37,846 55,303 63,564 75,445 63,601 59,822 59,957
7,716 6,970 6,482 7,732 7,606 8,217 7,873
14,560 15,713 17,870 21,293 23,131 23,322 26,179
22441 27178 31,482 23,592 21,071 22,653 28,894
30,702 23,974 25,456 22,379 21,227 21,992 24,140
3,001 3,032 3,336 4,267 4,123 6,022 6,808
116,266 132,170 148,190 154,708 140,759 142,028 153,851

ntge of Total Revenue Mix by Segment

FY13 FY14 FY15 FY16 FY17 FY18 FY19
71% 80% 81% 83% 82% 80% 80%
26% 18% 17% 14% 15% 15% 16%
3% 2% 2% 3% 3% 4% 4%
 2020

163,574.00
11,026.00
570.00
175,170.00
6,206.00
181,376.00

29,848.00
25,459.00
237.00

33,802.00
11,631.00
16,767.00

983.00
44,353.00
163,080.00

18,296.00
561.00
18,857.00

6,616.00
(8,019.00)
20,260.00
121.90
21%

FY20
138,123
64,659
11,707
28,946
32,811
25,747
10,730
174,600
FY20
79%
15%
6%
 Statement o
₹M
Sources
Particulars
(I) Revenue from operations
(II) Other income
(III) Total income (I+II)
(IV)Expenses
Cost of materials consumed
Purchases of stock-in-trade
Changes in inventories of finished goods, stock-in-trade and work-in-progress
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Other expenses
Net (gain) / loss on foreign currency transactions
Total expenses (IV)
(V) Profit before exceptional items and tax (III-IV)
(VI) Exceptional items
(VII) Profit before tax (V-VI)
(VIII) Tax expense/(credit)
Current tax
Deferred tax
a) Deferred tax credit
b) Deferred tax charge/(credit) - exceptional
Total tax expense (VIII)
(IX) Profit for the year before share of profit/(loss) of associates and joint venture (VII-VIII)
(X) Share of profit/(loss) of associates (net of tax)
(XI) Share of profit/(loss) of joint venture (net of tax)
(XII) Profit for the year before non-controlling interests (IX+X+XI)
(XIII) Non-controlling interests
(XIV) Profit for the year attributable to owners of the Company (XII-XIII)
 Statement of Profit and Loss
₹ Million

FY11 FY12 FY13 FY14 FY15 FY16 FY17

57,279.00 80,194.90 112,998.60 160,803.60 273,920.10 284,870.30 315,784.40
3,547.80 4,715.10 3,880.90 5,522.30 5,476.60 6,582.50 6,231.50
60,826.80 84,910.00 116,879.50 166,325.90 279,396.70 291,452.80 322,015.90

14,897.80 18,516.00 19,499.80 22,433.90 41,586.90 41,816.30 51,246.10

1,766.80 2,372.00 3,518.40 6,124.70 24,659.90 25,425.20 32,777.60
(2,057.70) (4,488.70) (2,284.80) (765.40) 1,144.90 (3,937.70) (2,716.30)
8,189.50 11,877.30 15,345.30 20,744.40 45,026.40 47,723.10 49,023.00
738.80 282.00 431.60 441.90 5,789.90 5,232.40 3,998.00
2,048.50 2,911.60 3,361.70 4,092.30 11,947.20 10,375.30 12,647.50
14,851.30 19,875.10 27,957.50 42,268.30 82,835.00 92,260.20 84,561.30

40,435.00 51,345.30 67,829.50 95,340.10 212,990.20 218,894.80 231,537.20

20,391.80 33,564.70 49,050.00 70,985.80 66,406.50 72,558.00 90,478.70
5,835.80 25,174.10 2,377.50 6,851.70
20,391.80 33,564.70 43,214.20 45,811.70 64,029.00 65,706.30 90,478.70

865.80 4,051.50 8,131.30 8,079.60 16,479.30 11,954.10 4,046.40

420.00 (919.60) 324.20 (1,057.90) (7,332.40) (2,816.40) 8,069.30

1,285.80 3,131.90 8,455.50 7,021.70 9,146.90 9,137.70 12,115.70

19,106.00 30,432.80 34,758.70 38,790.00 54,882.10 56,568.60 78,363.00
(11.10) (65.30) (125.60) (18.70) 299.60
(32.30) 33.20 (200.30)
19,073.70 30,421.70 34,693.40 38,790.00 54,756.50 56,583.10 78,462.30
913.10 3,854.80 4,862.80 7,375.30 9,362.70 11,126.00 8,818.60
18,160.60 26,566.90 29,830.60 31,414.70 45,393.80 45,457.10 69,643.70
FY18 FY19 FY20
264,894.60 290,659.10 328,375.00
8,387.60 10,254.90 6,359.80
273,282.20 300,914.00 334,734.80

44,626.00 57,827.00 55,152.30

27,313.80 25,193.80 34,143.70
2,307.00 (4,331.10) 3,008.50
53,670.50 59,670.90 63,623.50
5,175.70 5,552.50 3,027.30
14,998.40 17,532.50 20,527.80
80,896.00 88,290.60 102,705.50
932.00 (156.10)
228,987.40 250,668.20 282,032.50
44,294.80 50,245.80 52,702.30
9,505.00 12,143.80 2,606.40
34,789.80 38,102.00 50,095.90

6,628.00 8,039.60 13,201.40

(62.10)
(2,030.80) (4,973.40)
2,544.50
9,110.40 6,008.80 8,228.00
25,679.40 32,093.20 41,867.90
(246.60) (7.10) (138.30)
(7.80) (7.50) (10.00)
25,425.00 32,078.60 41,719.60
4,468.00 5,424.40 4,070.30
20,957.00 26,654.20 37,649.30
 Balance Sheet
₹ Million
FY11 FY12
Equity and Liability
Equity
(a) Equity Share Capital 1,035.60 1,035.60
(b) Share Suspense Account
(c) Other Equity 93,797.60 121,322.20
Equity attributable to the equity shareholders of the Company 94,833.20 122,357.80
Non-controlling interests 8,471.50 11,614.50
Total equity 103,304.70 133,972.30
Liabilities
(1) Non-current liabilities
(a) Financial liabilities
(i) Borrowings 1,572.80 1,554.20
(ii) Trade payables
(iii) Other financial liabilities
(b) Provisions 130.00 1,387.30
(c) Deferred tax liabilities (Net) 1,348.30 1,552.00
(d) Other non-current liabilities 66.80 89.30
Total non-current liabilities 3,117.90 4,582.80
(2) Current liabilities
(a) Financial liabilities
(i) Borrowings 2,077.80 1,095.70
(ii) Trade payables 6,898.80 9,927.20
(iii) Other financial liabilities
(b) Other current liabilities 2,387.70 3,636.60
(c) Provisions 6,389.50 11,525.40
(d) Current tax liabilities (Net)
Total current liabilities 17,753.80 26,184.90
Total liabilities 20,871.70 30,767.70
TOTAL EQUITY AND LIABILITIES 124,176.40 164,740.00

Assets
FY11 FY12
(1) Non-current assets
(a) Property, plant and equipment 22,334.20 26,135.10
(b) Capital work-in-progress 2,354.60 3,446.50
(c) Goodwill (Net) 7,719.70 10,218.10
(d) Other intangible assets 2,879.60 3,160.30
(e) Intangible assets under development
(f) Investment in associates
(g) Investment in joint venture
(h) Financial assets
(i) Investments 3,460.10 5,889.60
(ii) Loans 3,789.80 5,947.50
(iii) Other financial assets
 (i) Deferred tax assets (Net) 5,000.60 6,835.10
(j) Income tax assets (Net)
(k) Other non-current assets 262.30 174.10
Total non-current assets 47,800.90 61,806.30
(2) Current assets
(a) Inventories 14,894.80 20,869.80
(b) Financial assets
(i) Investments 18,837.50 16,239.10
(ii) Trade receivables 11,493.70 20,787.40
(iii) Cash and cash equivalents 22,046.30 33,671.90
(iv) Bank balances other than (iii) above
(v) Loans 8,491.70 10,426.70
(vi) Other financial assets
(c) Other current assets 611.50 938.80
Assets classified as held for sales
Total current assets 76,375.50 102,933.70
TOTAL ASSETS 124,176.40 164,740.00

Check 0.00 0.00

 Balance Sheet
₹ Million
FY13 FY14 FY15 FY16 FY17 FY18 FY19
Equity and Liability
Equity
1,035.60 2,071.20 2,071.20 2,406.60 2,399.30 2,399.30 2,399.30
334.80
148,861.70 183,178.30 278,008.50 327,418.20 363,997.40 380,741.80 411,691.30
149,897.30 185,249.50 280,414.50 329,824.80 366,396.70 383,141.10 414,090.60
16,350.80 19,211.80 28,511.90 40,852.50 37,908.60 38,841.60 33,135.40
166,248.10 204,461.30 308,926.40 370,677.30 404,305.30 421,982.70 447,226.00
Liabilities

1,152.60 486.70 13,597.70 31,103.00 14,360.80 17,720.90 15,226.10

10.20
1,816.70 1,842.20 1,048.00 316.50 30.60
7,870.60 26,016.20 23,074.50 18,958.60 12,111.10 4,044.60 4,303.90
2,053.50 2,756.70 751.40 1,027.70 3,147.90 2,189.60 1,042.80
89.40 91.40 129.80 254.30 259.10 266.00 5,712.50
11,166.10 29,351.00 39,380.30 53,185.80 30,926.90 24,537.60 26,315.90

829.50 24,403.40 62,126.70 52,061.20 66,549.20 79,797.00 83,707.60

10,579.90 13,282.60 32,430.30 35,829.20 43,953.90 47,662.00 41,478.70
2,604.10 24,137.40 6,873.30 22,116.30 13,377.20 10,273.20
2,186.50 4,237.80 4,469.40 4,620.50 5,382.10 7,344.00
14,816.60 19,605.80 24,447.00 29,734.40 40,159.10 51,096.60 29,323.30
5,914.70 2,472.10 1,471.20 1,328.30 1,269.40
28,412.50 59,895.90 153,293.90 131,439.60 178,870.20 198,643.20 173,396.20
39,578.60 89,246.90 192,674.20 184,625.40 209,797.10 223,180.80 199,712.10
205,826.70 293,708.20 501,600.60 555,302.70 614,102.40 645,163.50 646,938.10

Assets
FY13 FY14 FY15 FY16 FY17 FY18 FY19

31,604.30 34,981.80 70,000.70 75,831.40 84,952.90 91,590.30 100,274.20

5,626.10 8,415.40 15,317.70 12,034.60 15,647.60 14,344.70 9,107.90
11,329.50 18,346.20 54,845.90 56,347.40 55,362.20 56,067.10 59,557.70
13,540.90 14,844.80 6,461.30 26,543.70 36,436.60 40,869.10 58,533.50
5,068.40 9,719.90 12,366.20 10,306.90 5,003.60
2,175.70 3,008.80 4,605.40 2,748.60 2,163.40
418.00 655.00 429.50 252.80 262.00

11,063.50 7,875.60 10,772.10 7,496.90 4,575.10 27,521.10 37,092.70

8,377.60 10,511.80 1,830.10 1,073.20 698.10 22,424.70 170.40
1,583.40 9,809.90 6,452.20 1,049.20 787.70
 9,175.90 11,866.90 27,172.10 31,489.90 24,928.20 24,073.30 25,548.70
11,238.80 15,726.20 31,250.10 31,896.60 32,660.90
78.60 1.10 5,934.20 6,152.80 6,861.80 5,660.10 5,083.50
90,796.40 106,843.60 212,818.40 255,889.70 284,565.90 328,804.50 336,246.20

25,777.60 31,230.10 56,668.90 64,225.40 68,328.10 68,806.90 78,859.80

13,052.20 19,984.60 21,662.20 7,138.10 2,308.80 40,906.20 39,507.20

24,122.30 22,004.20 50,927.50 67,756.60 72,026.10 78,152.80 88,842.00
40,587.10 75,901.50 72,645.90 80,751.40 86,628.00 79,253.70 70,623.00
37,124.80 51,065.10 64,780.40 20,040.10 2,133.00
10,796.00 12,445.50 10,481.60 10,715.50 10,190.80 914.30 3,093.50
26,751.90 890.80 2,258.50 4,795.50 7,177.00
695.10 25,298.70 12,519.40 16,798.20 22,949.90 23,489.50 20,456.40
71.90 65.90
115,030.30 186,864.60 288,782.20 299,413.00 329,536.50 316,359.00 310,691.90
205,826.70 293,708.20 501,600.60 555,302.70 614,102.40 645,163.50 646,938.10

0.00 0.00 0.00 0.00 0.00 0.00 0.00

FY20

2,399.30

450,245.20
452,644.50
38,602.40
491,246.90

20,289.20

424.10
5,110.00
581.40
7,808.70
34,213.40

55,493.80
40,937.30
12,448.20
6,462.90
39,701.80
2,020.30
157,064.30
191,277.70
682,524.60

FY20

105,674.30
6,589.10
64,814.60
57,980.20
5,614.30
2,153.90
275.70

50,027.90
7.90
1,048.80
 31,752.90
33,842.50
6,200.90
365,983.00

78,749.90

48,973.60
94,212.40
56,766.10
8,109.40
1,483.80
9,293.40
18,953.00

316,541.60
682,524.60

0.00
Standalone Balance Sheet
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17
Equity and Liabilities
Equity
a Share Capital 161.00 161.00 161.00 161.00 161.00 161.00 161.00
b Reserves 6452.00 7390.00 8709.00 9931.00 10930.00 11825.00 12640.00
Total Equity 6613.00 7551.00 8870.00 10092.00 11091.00 11986.00 12801.00

Liabilities
1 Non Current Liabilities
a Borrowings 441.00 13.00 966.00 877.00 1381.00 1132.00 324.00
Total Non-current liabilities 441.00 13.00 966.00 877.00 1381.00 1132.00 324.00

2 Current Liabilities
a Trade Payables 662.00 686.00 827.00 963.00 1371.00 991.00 1298.00
b Advance from Customers 64.00 106.00 69.00 100.00 104.00 26.00 170.00
c Other liability items 668.00 638.00 761.00 893.00 1246.00 1105.00 1015.00
Total Current Liabilities 1394.00 1430.00 1657.00 1956.00 2721.00 2122.00 2483.00

Total Liabilities 1835.00 1443.00 2623.00 2833.00 4102.00 3254.00 2807.00

Total Equity and Liabilities 8448.00 8994.00 11493.00 12925.00 15193.00 15240.00 15608.00

Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17
Assets
1 Non-Current Assets
b Gross Block 3928.00 4298.00 4984.00 5395.00 5945.00 4268.00 5152.00
c Accumulated Depreciation 1061.00 1296.00 1566.00 1871.00 2351.00 442.00 917.00
d CWIP 253.00 343.00 350.00 377.00 361.00 551.00 556.00
e Investments 571.00 1035.00 2602.00 3587.00 4421.00 4256.00 4286.00
Total Non-current Assets 3691.00 4380.00 6370.00 7488.00 8376.00 8633.00 9077.00

2 Current Assets
a Inventories 1883.00 1827.00 2344.00 2512.00 3290.00 2920.00 2655.00
b Trade receivables 1497.00 1519.00 1645.00 1728.00 2052.00 1896.00 1939.00
c Cash Equivalents 84.00 55.00 105.00 46.00 83.00 53.00 58.00
d Loans n Advances 857.00 819.00 594.00 554.00 750.00 1454.00 1607.00
e Other asset items 436.00 394.00 435.00 597.00 642.00 284.00 272.00
Total Current Assets 4757.00 4614.00 5123.00 5437.00 6817.00 6607.00 6531.00

Total Assets 8448.00 8994.00 11493.00 12925.00 15193.00 15240.00 15608.00

 FY 18 FY 19 FY 20

161.00 161.00 161.00

13952.00 15621.00 17242.00
14113.00 15782.00 17403.00

174.00 0.00 81.00

174.00 0.00 81.00

1580.00 1481.00 1612.00

192.00 116.00 30.00
1035.00 1040.00 1279.00
2807.00 2637.00 2921.00

2981.00 2637.00 3002.00

17094.00 18419.00 20405.00

FY 18 FY 19 FY 20

5755.00 6161.00 6702.00

1435.00 1972.00 2551.00
463.00 297.00 320.00
4637.00 5815.00 7190.00
9420.00 10301.00 11661.00

3037.00 2869.00 3020.00

2336.00 3169.00 3560.00
228.00 175.00 523.00
1858.00 1707.00 1329.00
215.00 198.00 312.00
7674.00 8118.00 8744.00

17094.00 18419.00 20405.00

Standalone Profit and Loss Statement
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Income
Sales 6324.00 7021.00 8279.00 10173.00 11345.00 13790.00
Total Revenue from Operations 6324.00 7021.00 8279.00 10173.00 11345.00 13790.00

Expenses
Material Cost 2172.06 2078.2052 2168.4846 3060.1506 3391.6512 4174.521
Manufacturing Cost 626.175 593.3164 537.5604 597.7296 756.7616 1021.293
Employee Cost 443.025 585.86 760.7331 1218.7578 1598.016 1998.477
Finance Cost 633.6 782.3894 999.7164 1467.8118 1688.0192 2082.171
Total Expenses 4950 5326 6081 8034 9184 11310

Operating Profit 1374.00 1695.00 2198.00 2139.00 2161.00 2480.00

Other Income 87.00 103.00 262.00 259.00 166.00 208.00
Interest 25.00 38.00 34.00 146.00 168.00 207.00
Depreciation 273.00 312.00 330.00 373.00 505.00 754.00
Profit before tax 1163.00 1448.00 2096.00 1879.00 1654.00 1727.00
Tax 172.00 304.00 550.00 492.00 473.00 367.00
Net Profit 991.00 1144.00 1546.00 1387.00 1181.00 1360.00
EPS in Rs 11.87 13.93 18.90 16.95 14.30 16.93
Dividend Payout % 0.23 0.14 0.10 0.12 0.14 0.12
 FY 17 FY 18 FY 19 FY 20

14394.00 15156.00 16362.00 17132.00

14394.00 15156.00 16362.00 17132.00

4402.5092 4451.6316 4689.1775 4869.9222

964.1662 1023.5775 1024.058 1093.191
2186.953 2209.6867 2324.028 2467.6872
2315.6674 2471.4744 2716.672 2888.2524
11918 12407 13265 13926

2476.00 2749.00 3097.00 3206.00

229.00 358.00 477.00 344.00
159.00 114.00 168.00 197.00
1323.00 1323.00 1326.00 1175.00
1223.00 1670.00 2080.00 2178.00
216.00 258.00 551.00 631.00
1007.00 1412.00 1529.00 1547.00
12.51 17.52 18.96 19.18
0.16 0.17 0.16 0.21
Standalone Balance Sheet
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18
Equity and Liabilities
Equity
a Share Capital - 23.03 23.03 23.03 23.03 23.00 23.00 23.00 23.00
b Reserves 1094.00 1181.00 1324.00 1463.00 1604.00 1860.00 2003.00 2196.00
Total Equity 1117.03 1204.03 1347.03 1486.03 1627.00 1883.00 2026.00 2219.00

Liabilities
1 Non Current Liabilities
a Borrowings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-current liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2 Current Liabilities
a Trade Payables 148.00 151.00 187.00 327.00 226.00 231.00 327.00 344.00
b Advance from Customers 2.00 1.00 3.00 8.00 3.00 4.00 5.00 4.00
c Other liability items 237.00 275.00 342.00 407.00 549.00 423.00 419.00 417.00
Total Current Liabilities 387.00 427.00 532.00 742.00 778.00 658.00 751.00 765.00

Total Liabilities 387.00 427.00 532.00 742.00 778.00 658.00 751.00 765.00

Total Equity and Liabilities 1504.03 1631.03 1879.03 2228.03 2405.00 2541.00 2777.00 2984.00

Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18
Assets
1 Non-Current Assets
b Gross Block 968.00 1014.00 1102.00 1132.00 1454.00 936.00 989.00 1053.00
c Accumulated Depreciation 231.00 315.00 404.00 484.00 577.00 119.00 220.00 320.00
d CWIP 23.00 43.00 136.00 210.00 22.00 34.00 30.00 21.00
e Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-current Assets 760.00 742.00 834.00 858.00 899.00 851.00 799.00 754.00

2 Current Assets
a Inventories 256.03 284.03 342.03 479.03 479.00 493.00 416.00 483.00
b Trade receivables 104.00 99.00 118.00 115.00 144.00 145.00 195.00 158.00
c Cash Equivalents 234.00 430.00 264.00 469.00 572.00 561.00 730.00 832.00
d Loans n Advances 97.00 53.00 253.00 233.00 85.00 418.00 138.00 156.00
e Other asset items 53.00 33.00 68.00 74.00 226.00 73.00 499.00 601.00
Total Current Assets 744.03 899.03 1045.03 1370.03 1506.00 1690.00 1978.00 2230.00

Total Assets 1504.03 1641.03 1879.03 2228.03 2405.00 2541.00 2777.00 2984.00
FY 19 FY 20

23.00 23.00
2419.00 2642.00
2442.00 2665.00

0.00 24.00
0.00 24.00

369.00 347.00
0.00 0.00
433.00 448.00
802.00 795.00

802.00 819.00

3244.00 3484.00

FY 19 FY 20

817.00 822.00
318.00 320.00
17.00 3.00
0.00 0.00
516.00 505.00

469.00 341.00
224.00 145.00
1130.00 1689.00
347.00 503.00
558.00 301.00
2728.00 2979.00

3244.00 3484.00
Standalone Profit and Loss Statement
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Income
Sales 1301.00 1573.00 1809.00 1977.00 2193.00 2367.00
Total Revenue from Operations 1301.00 1573.00 1809.00 1977.00 2193.00 2367.00

Expenses
Material Cost 540.834 589.6436 639.183 807.3714 799.8942 824.4
Manufacturing Cost 63.896 66.9591 72.6665 87.5226 82.8852 82.6232
Employee Cost 154.7196 171.3699 188.9329 238.9662 263.568 274.9832
Finance Cost 241.3215 182.9711 199.9387 224.3791 224.7264 235.7784
Total Expenses 1141 1261 1411 1639 1734 1832

Operating Profit 160.00 312.00 398.00 338.00 459.00 535.00

Other Income 156.00 41.00 83.00 131.00 135.00 66.00
Interest 0.00 1.00 0.00 0.00 0.00 2.00
Depreciation 31.00 90.00 92.00 97.00 113.00 119.00
Profit before tax 285.00 262.00 389.00 372.00 481.00 480.00
Tax 93.72 83.84 124.16 108.17 158.73 177.60
Net Profit 191.28 178.16 264.84 263.83 322.27 302.40
EPS in Rs 77.86 71.36 107.28 105.77 139.78 119.00
Dividend Payout % 0.40 0.43 0.39 0.39 0.46 0.51
 FY 17 FY 18 FY 19 FY 20

2460.00 2771.00 3071.00 3100.00

2460.00 2771.00 3071.00 3100.00

784.1522 887.5856 1054.4364 1050.0484

80.2978 94.424 93.717 93.327
287.7658 315.0328 352.0395 350.5745
348.2773 364.6054 380.8755 379.2905
1921 2146 2403 2393

539.00 625.00 668.00 707.00

79.00 88.00 33.00 -2.00
1.00 1.00 0.00 1.00
102.00 103.00 100.00 89.00
515.00 609.00 601.00 615.00
190.55 231.80 186.00 190.65
324.45 377.20 415.00 424.35
141.74 165.48 180.09 193.48
0.50 0.51 1.94 0.62
Standalone Balance Sheet
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Equity and Liabilities
Equity
a Share Capital 29 29 29 29 45 47
b Reserves 1,134 1,275 1,665 629 1,927 2,118
Total Equity 1163.00 1304.00 1694.00 658.00 1972.00 2165.00

Liabilities
1 Non Current Liabilities
a Borrowings 0 0 0 0 2 2
Total Non-current liabilities 0.00 0.00 0.00 0.00 2.00 2.00

2 Current Liabilities
a Trade Payables 98 136 151 160 334 338
b Advance from Customers 0 0 0 0 2 99
c Other liability items 125 141 214 158 302 285
Total Current Liabilities 223.00 277.00 365.00 318.00 638.00 722.00

Total Liabilities 223.00 277.00 365.00 318.00 640.00 724.00

Total Equity and Liabilities 1386.00 1581.00 2059.00 976.00 2612.00 2889.00

Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Assets
1 Non-Current Assets
b Gross Block 118 118 116 115 1,289 981
c Accumulated Depreciation 82 87 90 95 344 56
d CWIP 2 0 0 3 13 3
e Investments 49 48 46 44 43 37
Total Non-current Assets 87.00 79.00 72.00 67.00 1001.00 965.00

2 Current Assets
a Inventories 159 183 165 152 388 361
b Trade receivables 100 142 142 173 160 142
c Cash Equivalents 578 866 1,433 308 609 1,025
d Loans n Advances 371 178 104 87 172 194
e Other asset items 91 133 143 189 285 202
Total Current Assets 1299.00 1502.00 1987.00 909.00 1614.00 1924.00

Total Assets 1386.00 1581.00 2059.00 976.00 2615.00 2889.00

Check 0.00 0.00 0.00 0.00 3.00 0.00
FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Percentage of Revenue

47 47 46 46 46.00 46.00 Flat

2,373 2,637 2,966 3,350 4618.90 5986.17
2420.00 2684.00 3012.00 3396.00 4664.90 6032.17

2 2 2 2 2 2 Adjusted for external Financing

2.00 2.00 2.00 2.00 2.00 2.00

388 496 436 427 471.835 521.377675 21.686%

154 180 179 179 197.795 218.563475 9.091%
297 329 311 402 444.21 490.85205 20.416%
839.00 1005.00 926.00 1008.00 1113.84 1230.79

841.00 1007.00 928.00 1010.00 1115.84 1232.79

3261.00 3691.00 3940.00 4406.00 5780.74 7264.96

FY 17 FY 18 FY 19 FY 20 FY 21 FY 22

1,021 1,133 1,138 1,315 1453.075 1605.64788 66.785%

119 182 252 342 377.91 417.59055 17.369%
15 1 0 1 1.105 1.221025 0.051%
0 0 0 0 0 0 0.000%
917.00 952.00 886.00 974.00 1076.27 1189.28

322 297 387 431 476.255 526.261775 21.889%

110 155 172 172 190.06 210.0163 8.735%
1,523 1,772 1,914 2,220 3365.21 4595.8055 112.748%
185 269 318 277 306.085 338.223925 14.068%
204 246 263 332 366.86 405.3803 16.861%
2344.00 2739.00 3054.00 3432.00 4704.47 6075.69

3261.00 3691.00 3940.00 4406.00 5780.74 7264.97

0.00 0.00 0.00 0.00 0.00 0.00
Standalone Profit and Loss Statement
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Income
Sales 674 772 1,252 1,093 1,049 1,112
Total Revenue from Operations 674.00 772.00 1252.00 1093.00 1049.00 1112.00

Expenses
Material Cost 193.5225 239.9544 306.4994 294.6645 274.724 294.0384
Manufacturing Cost 26.5716 40.4432 58.98 53.1024 52.5055 49.4424
Employee Cost 85.644 116.8216 180.5771 158.4999 174.384 150.6816
Finance Cost 243.2619 246.7808 436.9435 390.7332 363.3865 377.8376
Total Expenses 549 644 983 897 865 872

Operating Profit 125.00 128.00 269.00 196.00 184.00 240.00

Other Income 304.00 90.00 89.00 92.00 519.00 109.00
Interest 0.00 0.00 2.00 2.00 2.00 1.00
Depreciation 11.00 8.00 12.00 10.00 8.00 8.00
Profit before tax 418.00 210.00 344.00 276.00 693.00 340.00
Tax 117.30 91.74 187.38 119.00 136.62 164.50
Net Profit 300.70 118.26 156.62 157.00 556.38 175.50
EPS in Rs 54.88 59.84 163.09 12.83 12.72 66.66
Dividend Payout % 0.22 0.20 0.19 4.86 0.82 0.22
 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Percentage of Revenue

1,853 2,012 1,966 1,969 2,082 2,152

1853.00 2012.00 1966.00 1969.00 2175.745 2404.198

574.3372 617.5469 654.6416 551.6744 228.4532 252.4408 11%

63.7034 59.3704 63.3472 51.38 228.4532 252.4408 11%
183.7764 218.0599 250.3184 234.88 228.4532 252.4408 11%
616.183 684.0228 647.6928 630.0656 228.4532 252.4408 11%
1438 1579 1616 1468 913.8129 1009.763

415.00 433.00 350.00 501.00 1261.93 1394.43

44.00 97.00 232.00 114.00 167.00 183.00 Flat
2.00 1.00 2.00 1.00 2 11 1%
250.00 58.00 63.00 66.00 71.00 103.00 Flat
207.00 471.00 517.00 548.00 1355.93 1463.43
180.95 186.32 231.00 134.82 87.0298 96.16793 4%
26.05 284.68 286.00 413.18 1268.90 1367.27
73.61 78.70 93.78 111.29
0.27 0.25 0.24 2.97
Standalone Balance Sheet
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Equity and Liabilities
Equity
a Share Capital 85 85 85 85 85 85
b Reserves 1,846 1,835 1,925 1,932 1,767 2,120
Total Equity 1931.00 1920.00 2010.00 2017.00 1852.00 2205.00

Liabilities
1 Non Current Liabilities
a Borrowings 5 5 5 4 3 2
Total Non-current liabilities 5 5 5 4 3 2

2 Current Liabilities
a Trade Payables 332 198 235 278 306 323
b Advance from Customers 0 0 0 0 0 0
c Other liability items 515 888 840 851 1,076 541
Total Current Liabilities 847.00 1086.00 1075.00 1129.00 1382.00 864.00

Total Liabilities 2783.00 3011.00 3090.00 3150.00 3237.00 3071.00

Total Equity and Liabilities 2783.00 3011.00 3090.00 3150.00 3237.00 3071.00

Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Assets
1 Non-Current Assets
b Gross Block 318 272 272 299 319 228
c Accumulated Depreciation 209 173 183 199 196 24
d CWIP 9 16 44 62 115 268
e Investments 160 160 103 58 48 54
Total Non-current Assets 278.00 275.00 236.00 220.00 286.00 526.00

2 Current Assets
a Inventories 282 330 282 342 369 522
b Trade receivables 47 85 116 96 100 127
c Cash Equivalents 1,948 1,984 2,039 2,027 1,898 1,378
d Loans n Advances 237 180 221 223 291 232
e Other asset items -9 157 196 242 293 286
Total Current Assets 2505.00 2736.00 2854.00 2930.00 2951.00 2545.00

Total Assets 2783.00 3011.00 3090.00 3150.00 3237.00 3071.00

Check 0.00 0.00 0.00 0.00 0.00 0.00
FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Percentage of Revenue

85 85 169 169 169.00 169.00 Flat

1,944 1,995 1,973 1,671 2791.13 4106.36
2029.00 2080.00 2142.00 1840.00 2960.13 4275.36

2 1 1 0 0 0 Adjusted for external Financing

2 1 1 0 0.00 0.00

276 503 403 355 390.5 429.55 11.008%

0 3 4 4 4.4 4.84 0.124%
715 1,378 1,359 935 1028.5 1131.35 28.992%
991.00 1884.00 1766.00 1294.00 1423.40 1565.74

3022.00 3965.00 3909.00 3134.00 4383.53 5841.10

3022.00 3965.00 3909.00 3134.00 4383.53 5841.10

FY 17 FY 18 FY 19 FY 20 FY 21 FY 22

911
305 408 561 1,472 1619.2 1781.12 45.643%
47 84 130 714 785.4 863.94 22.140%
605 923 1,003 120 132 145.2 3.721%
48 48 25 24 26.4 29.04 0.744%
911.00 1295.00 1459.00 902.00 992.20 1091.42

425 500 486 483 531.3 584.43 14.977%

171 147 120 100 110 121 3.101%
882 1,280 1,155 1,066 2108.72 3338.82 33.054%
277 355 313 234 257.4 283.14 7.256%
356 388 376 349 383.9 422.29 10.822%
2111.00 2670.00 2450.00 2232.00 3391.32 4749.68

3022.00 3965.00 3909.00 3134.00 4383.52 5841.10

0.00 0.00 0.00 0.00 0.00 0.00
Standalone Profit and Loss Stateme
Rs. In Crores
Particulars FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18
Income
Sales 674 772 1,252 1,093 1,049 1,112 1,853 2,012
Total Reve 674.00 772.00 1252.00 1093.00 1049.00 1112.00 1853.00 2012.00

Expenses
Material C 193.5225 239.9544 306.4994 294.6645 274.724 294.0384 574.3372 617.5469
Manufactur 26.5716 40.4432 58.98 53.1024 52.5055 49.4424 63.7034 59.3704
Employee C 85.644 116.8216 180.5771 158.4999 174.384 150.6816 183.7764 218.0599
Finance Co 243.2619 246.7808 436.9435 390.7332 363.3865 377.8376 616.183 684.0228
Total Expe 549 644 983 897 865 872 1438 1579

Operating P 125.00 128.00 269.00 196.00 184.00 240.00 415.00 433.00

Other Inc 304.00 90.00 89.00 92.00 519.00 109.00 44.00 97.00
Interest 0.00 0.00 2.00 2.00 2.00 1.00 2.00 1.00
Depreciati 11.00 8.00 12.00 10.00 8.00 8.00 250.00 58.00
Profit befo 418.00 210.00 344.00 276.00 693.00 340.00 207.00 471.00
Tax 117.30 91.74 187.38 119.00 136.62 164.50 180.95 186.32
Net Profit 300.70 118.26 156.62 157.00 556.38 175.50 26.05 284.68
EPS in Rs 54.88 59.84 163.09 12.83 12.72 66.66 73.61 78.70
Dividend P 0.22 0.20 0.19 4.86 0.82 0.22 0.27 0.25
 FY 19 FY 20 FY 21 FY 22 Percentage of Revenue

1,966 1,969 2,082 2,152

1966.00 1969.00 2175.745 2404.198

654.6416 551.6744 228.4532 252.4408 11%

63.3472 51.38 228.4532 252.4408 11%
250.3184 234.88 228.4532 252.4408 11%
647.6928 630.0656 228.4532 252.4408 11%
1616 1468 913.8129 1009.763

350.00 501.00 1261.93 1394.43

232.00 114.00 167.00 183.00 Flat
2.00 1.00 2 11 1%
63.00 66.00 71.00 103.00 Flat
517.00 548.00 1355.93 1463.43
231.00 134.82 87.0298 96.16793 4%
286.00 413.18 1268.90 1367.27
93.78 111.29
0.24 2.97