Sun Pharmaceutical Industries Limited | Annual Report 2021-22

CONSOLIDATED BALANCE SHEET

AS AT MARCH 31, 2022

` in Million
As at As at
Particulars Notes
March 31, 2022 March 31, 2021
ASSETS
(1) Non-current assets
(a) Property, plant and equipment 3A (I) & (II) 103,713.8 102,349.9
(b) Capital work-in-progress 7,975.1 9,365.2
(c) Goodwill (Net) 47 65,494.5 62,876.4
(d) Other intangible assets 3B 55,389.1 50,303.5
(e) Intangible assets under development 4,892.9 6,303.1
(f) Investment in associates 4 2,320.6 2,327.3
(g) Investment in joint venture 5 340.2 278.3
(h) Financial assets
(i) Investments 6 49,485.7 62,218.3
(ii) Loans 7 7.1 7.1
(iii) Other financial assets 8 1,259.0 957.8
(i) Deferred tax assets (Net) 50 28,967.2 35,564.4
(j) Income tax assets (Net) 9 25,115.3 34,327.8
(k) Other non-current assets 10 2,888.4 5,367.4
Total non-current assets 347,848.9 372,246.5
(2) Current assets
(a) Inventories 11 89,968.1 89,970.2
(b) Financial assets
(i) Investments 12 76,339.4 31,300.6
(ii) Trade receivables 13 105,928.9 90,614.0
(iii) Cash and cash equivalents 14 45,082.5 62,730.3
(iv) Bank balances other than (iii) above 15 5,251.0 1,724.8
(v) Loans 16 1,699.7 560.1
(vi) Other financial assets 17 7,024.7 8,759.3
(c) Other current assets 18 18,855.5 18,761.5
Total current assets 350,149.8 304,420.8
TOTAL ASSETS 697,998.7 676,667.3

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 Corporate Overview Statutory Reports Financial Statements
Consolidated Accounts

CONSOLIDATED BALANCE SHEET

AS AT MARCH 31, 2022

` in Million
As at As at
Particulars Notes
March 31, 2022 March 31, 2021
EQUITY AND LIABILITIES
Equity
(a) Equity share capital 19 2,399.3 2,399.3
(b) Other equity 20 477,712.9 462,228.5
Equity attributable to the equity shareholders of the Company 480,112.2 464,627.8
Non-controlling interests 71 30,548.9 30,170.5
Total equity 510,661.1 494,798.3
Liabilities
(1) Non-current liabilities
(a) Financial liabilities
(i) Borrowings 21 2,299.2 6,547.1
(ii) Lease Liabilities 54 2,517.9 2,434.2
(iii) Other financial liabilities 22 161.2 195.8
(b) Provisions 23 3,690.7 3,271.2
(c) Deferred tax liabilities (Net) 50 318.6 445.1
(d) Other non-current liabilities 24 6,344.5 7,519.3
Total non-current liabilities 15,332.1 20,412.7
(2) Current liabilities
(a) Financial liabilities
(i) Borrowings 25 7,007.7 28,687.8
(ii) Lease Liabilities 54 1,078.2 1,016.7
(iii) Trade payables 44,793.4 39,736.6
(iv) Other financial liabilities 26 18,832.7 37,118.0
(b) Other current liabilities 27 7,033.9 7,279.9
(c) Provisions 28 91,478.2 45,826.5
(d) Current tax liabilities (Net) 29 1,781.4 1,790.8
Total current liabilities 172,005.5 161,456.3
Total liabilities 187,337.6 181,869.0
TOTAL EQUITY AND LIABILITIES 697,998.7 676,667.3

The accompanying notes are an integral part of the consolidated financial statements
As per our report of even date

For S R B C & CO LLP For and on behalf of the Board of Directors of

Chartered Accountants Sun Pharmaceutical Industries Limited
ICAI Firm Registration No. : 324982E/E300003

per PAUL ALVARES DILIP S. SHANGHVI

Partner Managing Director
Membership No. : 105754 (DIN : 00005588)
Mumbai, May 30, 2022

SAILESH T. DESAI
Wholetime Director
(DIN : 00005443)

ANOOP DESHPANDE C. S. MURALIDHARAN

Company Secretary Chief Financial Officer
Mumbai, May 30, 2022

Scaling up Specialty. Leading with Care. 209

Sun Pharmaceutical Industries Limited | Annual Report 2021-22

CONSOLIDATED STATEMENT OF PROFIT AND LOSS

FOR THE YEAR ENDED MARCH 31, 2022

` in Million
Year ended Year ended
Particulars Notes
March 31, 2022 March 31, 2021
(I) Revenue from operations 30 386,544.9 334,981.4
(II) Other income 31 9,215.1 8,355.2
(III) Total income (I+II) 395,760.0 343,336.6
(IV) EXPENSES
Cost of materials consumed 32 70,491.2 61,531.3
Purchases of stock-in-trade 34,100.3 31,751.7
Changes in inventories of finished goods, stock-in-trade and work-in-progress 33 (1,076.1) (6,382.2)
Employee benefits expense 34 73,008.3 68,622.3
Finance costs 35 1,273.5 1,414.3
Depreciation and amortisation expense 3 (A & B) 21,437.4 20,799.5
Other expenses 36 107,583.6 94,781.1
Net (gain) / loss on foreign currency transactions (1,539.6) (236.5)
Total expenses (IV) 305,278.6 272,281.5
(V) PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (III-IV) 90,481.4 71,055.1
(VI) Exceptional items 61 45,668.2 43,061.4
(VII) PROFIT BEFORE TAX (V-VI) 44,813.2 27,993.7
(VIII) TAX EXPENSE/(CREDIT)
Current tax 3,543.9 9,573.0
Deferred tax 7,975.3 (331.0)
Deferred tax - exceptional 61 (764.2) (4,095.1)
Total tax expense (VIII) 49 10,755.0 5,146.9
(IX) PROFIT FOR THE YEAR BEFORE SHARE OF PROFIT/(LOSS) OF 34,058.2 22,846.8
ASSOCIATES AND JOINT VENTURE (VII-VIII)
(X) Share of profit/(loss) of associates (net of tax) (217.3) (135.5)
(XI) Share of profit/(loss) of joint venture (net of tax) 51.9 12.2
(XII) PROFIT FOR THE YEAR BEFORE NON-CONTROLLING INTERESTS 33,892.8 22,723.5
(IX+X+XI)
(XIII) Non-controlling interests 71 1,165.5 (6,314.7)
(XIV) P
 ROFIT FOR THE YEAR ATTRIBUTABLE TO OWNERS OF THE COMPANY 32,727.3 29,038.2
(XII-XIII)
(XV) OTHER COMPREHENSIVE INCOME
(A) Items that will not be reclassified to profit or loss
(a) Gain/(loss) on re-measurement of the defined benefit plans (330.7) (81.9)
Income tax on above 115.3 29.2
(215.4) (52.7)
(b) Gain/(loss) on equity instruments measured at fair value through other (1,542.8) 3,315.8
comprehensive income
Income tax on above 45.6 (174.6)
(1,497.2) 3,141.2
Total (A) (1,712.6) 3,088.5

210
 Corporate Overview Statutory Reports Financial Statements
Consolidated Accounts

CONSOLIDATED STATEMENT OF PROFIT AND LOSS

FOR THE YEAR ENDED MARCH 31, 2022

` in Million
Year ended Year ended
Particulars Notes
March 31, 2022 March 31, 2021
(B) Items that may be reclassified to profit or loss
(a) Gain/(loss) on debt instruments measured at fair value through other (1,567.3) 1,172.5
comprehensive income
Income tax on above 131.6 (80.3)
(1,435.7) 1,092.2
(b) Effective portion of gain/(loss) on designated portion of hedging (515.3) 1,451.3
instruments in a cash flow hedge
Income tax on above 171.4 (436.9)
(343.9) 1,014.4
(c) Exchange differences in translating the financial statements of foreign 9,479.1 (8,013.1)
operations
Exchange differences on translation of net investment in 344.4 1,357.7
foreign operations
Income tax on above (759.2) -
9,064.3 (6,655.4)
Total (B) 7,284.7 (4,548.8)
(XV) TOTAL OTHER COMPREHENSIVE INCOME (A + B) 5,572.1 (1,460.3)
(XVI)TOTAL COMPREHENSIVE INCOME FOR THE YEAR (XII+XV) 39,464.9 21,263.2
Other comprehensive income for the year attributable to:
- Owners of the Company 4,794.5 (904.8)
- Non-controlling interests 777.6 (555.5)
Total comprehensive income for the year attributable to:
- Owners of the Company 37,521.8 28,133.4
- Non-controlling interests 1,943.1 (6,870.2)
Earnings per equity share (face value per equity share - ` 1) 51
Basic (in `) 13.6 12.1
Diluted (in `) 13.6 12.1

The accompanying notes are an integral part of the consolidated financial statements

As per our report of even date

For S R B C & CO LLP For and on behalf of the Board of Directors of

Chartered Accountants Sun Pharmaceutical Industries Limited
ICAI Firm Registration No. : 324982E/E300003

per PAUL ALVARES DILIP S. SHANGHVI

Partner Managing Director
Membership No. : 105754 (DIN : 00005588)
Mumbai, May 30, 2022

SAILESH T. DESAI
Wholetime Director
(DIN : 00005443)

ANOOP DESHPANDE C. S. MURALIDHARAN

Company Secretary Chief Financial Officer
Mumbai, May 30, 2022

Scaling up Specialty. Leading with Care. 211