Financial Results 2010

15% growth before exceptionals .Key Highlights Sales Net Sales growth at 13% Pharma Business 14% Trading Profit Profit from Operations before Investment Income growth 14% Profitability maintained at 35% PBT growth 14% Profit PAT but before exceptional items growth 15% EPS EPS after exceptional items `66.60.

116 18.444 10% Total Sales 2010 Pharma 2009 1517 Q4'09 1391 Operating Profit % to Sales Gr % 9% Operating Profit Gr % 19.906 4.603 17.708 13% Total Q4'10 2010 7526 2009 6586 ` Mn Q4'10 31% Q4'09 31% Operating Profit % to Sales Gr % 14% 2010 35% 2009 35% .144 14% Iodex 882 849 4% Exports 631 715 -12% 21.564 4.Segmental Performance Q4 & Full Year Sales Q4'10 Pharma Q4'09 Operating Profit Gr % 4.096 11% Iodex 182 194 -6% Exports 160 154 4% 4.

814 14% 15% 13% 13% 15% ` Mn .526 Operating Profit Treasury Income 14% 1.409 3.147 PBT PAT Excep Net of Tax (177) 8.346 2.116 Gross Margin Staff costs Other Opex 13.673 5.Financial Summary: 2010 Net Sales 21.737 13% Other income 324 7.

823 8.1% 29.076 13.611 1.7% 63.9% 35.660 6.2010 Performance Summary % in italics are % of turnover Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 `Mn `Mn `Mn `Mn `Mn % Change Net Sales 5.2% 24.0% 62.673 44.462 1.346 13.5% Operating expenses Other Income Operating Profit Treasury Income PBT before exceptional items Tax PAT before exceptional items 13.8% 37.1% 54 97 73 101 324 2.9% 27.3% 37.116 12.119 1.906 21.4% 27.412 1.2% 1.018 1.223 5.517 7.2 62.4% 41.374 1.526 37.8% 29.657 3.4% 30.820 4.814 29.872 2.396 1.402 2.074 2.6% 36.611 1.2% 41.1% 790 678 792 600 2.9 Gross Margin 3.859 1.3 15.4% 65.979 5.7 14.6% 383 202 256 306 1.582 1.376 3.7% 40.147 2.8% 62.3 14.411 4.7% 33.0% 27.145 26.8% 28.1 .238 3.

Performance Across Business Verticals Vaccines +24% vs 2009 Specialties +19% vs 2009 Mass Specialty +16% vs 2009 Mass Markets +10% vs 2009 .

8 3.21 21.2 13.4 98 2 2 2 RANBAXY* 1951.5 4. 4.0 24372.7 0 5.6 97 4 PIRAMALHEA LTHCARE* 1637.6 4.4 17475.5 5.67 17.4 5.2 4.4 96 6 ZYDUS CADILA* 1530. 4.3 24372.5 100 1 1 1 CIPLA 2248. 3.4 3.8 4.1 4.8 9 0 23.23 20.9 21861.8 21861. 10 40689.74 17475.2 3.5 467869.0 11.1 4. 46786 100.Slowing down of Growth in DQ RANKINGS MONTH VALUES MS 12M CUM CORPORATI MON ONS INR Mn % CUMMULATIVE 12 MONTHS TO DATE Gr VALU ES MS Gr VALUES MS Gr % INR Mn % % INR Mn % % EVO L TOTAL MARKET 100.7 17.9 18922.5 19794.3 0.2 95 3 GLAXOSMITH KLINE* 1698. 4.0 5.04 18.3 19794.2 2.7 11.3 4.0 18922.2 14.0 16. 5.7 101 3 4 5 3 4 5 24.7 .0 2.

642 19.10.93.17.18.79.03.62 Novartis Intl.20 49.45 19.11 22.77 Others * 98.854 100.07 9.00 GlaxoSmithKline* 48.80.61.75 Val In ` Vaccines Market .05 51.00 100.31.343 23.79.77 16.58.GSK Achieves Leadership in Vaccines QTR ~ 12/2010 QTR ~ 09/2010 MAT ~ 12/2010 Val MS Val MS Val MS Rs % Rs % Rs % 2.954 10.* 21.86 Sanofi Aventis* 41.69 10.00 100.66 19.915 47.

076 QTR ~ 06/2010 MS% 1.84 45 3.03 RANBAXY* 41 3.59 PFIZER* 47 4.44 47 4.160 QTR ~ 09/2010 ` Crores MS % 1.50 72 5.61 46 3.42 CIPLA 59 5.43 SANOFI AVENTIS* 44 4.30 69 5.71 46 3.07 38 3.40 51 4.21 73 5.03 48 3.66 ZYDUS CADILA* 49 4.33 .04 52 4.279 GLAXOSMITHKLINE* 62 5.44 60 5.58 49 4.12 53 4.25 SUN* 59 5.63 43 3.79 LUPIN LIMITED 39 3.56 53 4.72 58 4.44 80 6.93 48 3.66 49 3.91 52 3.65 42 3.23 62 4.78 70 5.75 68 5.82 85 6.48 67 5.320 QTR ~ 12/2010 MS% 1.Gains in Hospital Market Share QTR ~12/2009 MS% 1.57 PIRAMALHEALTHCA RE* 48 4.24 48 3.61 ALKEM* 33 3.21 57 4.37 56 4.

Creating a broader portfolio of potential high value assets New products contributions to growth in 2010 26% New Products contributions to Total Rx Sales 7% 2007 2008 2009 2010 .

Exceptional items 2010 `Mn 2009 `Mn Actuarial Gains/(Losses) (120) 221 Provision for revised Gratuity Limits (123) - (22) - Severance Costs Expenses for rationalisation initiatives - (104) Profit on sale of property - 89 Compensation for surrender of rental premises - 13 Expenses for obtaining marketing. sale and distribution rights - (71) 88 (74) Tax thereon (177) 74 .

047) (1.918) 2.663 Net cash used in financing activities Net increase in cash and cash equivalents .033 Net cash from investing activities 1.673 (1.957 (3.020 6.Cash Flow 2010 ` Mn Profit before taxation and exceptional items Depreciation and other non-cash items Increase/(Decrease) in Working Capital Cash generated from operations Taxation Cash flow before exceptional items Exceptional items 8.686 5.548 (2.676 5.733 6.585 (850) 111 222 7.755 7.774) 4.183 (11) (150) Net cash from operating activities 4.050) 2009 ` Mn 7.941) (3.

7 21.0 Exports and Beta 631 715 -11.9 Total .144 14.3 Iodex 882 849 4.603 17.708 12.2010 Turnover Summary 2010 `Mn Pharmaceuticals 2009 `Mn % Change 19.116 18.

2010 Performance Summary 2010 `Mn Turnover 2009 `Mn % Change 21.116 18.1 Operating Cashflow 7.2 EPS before exceptional items .708 12.9 EPS (in Rs.61 15.) 68.957 11.64 59.733 6.

1% 74 5.Full year results after Exceptional items Profit before exceptional items Exceptional expenses Net Profit 2010 2009 `Mn `Mn 5.123 10.049 15.0% .637 % Change 5.814 (177) 5.

9 ` RONW 40.8 52.8 39.5 31.1 2007 2008 2009 ROCE 40.9 30.Financial performance EPS and Book Value per share Book value 46.6 2007 2008 2009 2010 .6 ` 161 182 207 228 Return on Average Net Worth and Average Capital Employed (%) 41.6 59.9 2010 31.1 30.9 EPS 68.