AstraZeneca Pharma India Ltd. — Annual Report 2019

May 24, 2019

May 24,201 9

The Manager - Listing BSE Limited, I 51 Floor, New Trading Ring Rotunda Buiding, P J Towers, Dalal Street, Fort, Mumbai 40000 l

The Manager - Listing National Stock Exchange of India Ltd. Exchange plaza, 5111 Floor, Plot No.C/1 , G Block Bandra-Kurla Complex, Bandra (E), Mumbai 40005 1

Dear Sir(s),

Sub: Outcome of the Board Meeting held on Friday, May 24,2019

Ref: Scrip Code - BSE: 506820 I NSE: ASTRAZEN

At the Board Meeting of the Company held on Friday, May 24, 201 9 the Board of Directors considered and approved the Audited Financial Results of the Company for the qumter and year ended March 31, 2019. The said Audited Financial Results together with the Audit report of the Statutory Auditors dated May 24, 2019 are enclosed herewith.

We also confirm that the Auditor's Report is with unmodified opinion in respect of the Audited Financial Results of the Company for the year ended March 31, 2019.

Please take the same on record.

Thanking you,

For AstraZeneca Pharma India Limited

~~~~

Pratap Rudra Company Secretary & Legal Counsel

CORPORATE & REGD. OFFICE AstraZeneca Pharma India Ltd. P. B. No. 4525, Block N1 , 12th Floor, Manyata Embassy Business Park, Rachenahalli, Outer Ring Road, Bangalore - 560 045, INDIA

TEL : +91 eo 6774 6000 FAX : +91 eo 6774 6657 CIN : L24231KA1979PLC003563 WEB : www.astrazeneca.com/india

FACTORY 12th Mile on Bellary Road Venkatala, Kattigenahalli Village Yelahanka Bangalore - 560 063 INDIA

TEL : +91 60 6774 9000

FAX : +91 60 2646 2208 +91 eo 6774 9628

AstraZeneca Pharma India Limited

Regd. Office: Block N1, 12th Floor, Manyata Embassy Business Park, Rachenahalli, Outer Ring Road, Bangalore 560 045 Statement of financial results for the quarter and year ended 31 March 2019

	Rs in lakhs except for earnings per share data
Sl No.	Particulars	3 months ended 31/03/2019	Previous 3 months ended 31/12/2018	Corresponding 3 months ended in the previous year 31/03/2018	Year ended 31/03/2019	Previous year ended 31/03/2018
		Refer note 6	Unaudited	Refer note 6	Audited	Audited
1 2	Revenue a) Revenue from operations b) Other income Total income Expenses (a) Cost of materials consumed (b) Purchase of stock-in-trade	19,030.27 601.22 19,631.49 2,223.71 8,091 .56	21 ,519.40 349.57 21,868.97 1,594.29 4,156.63	15,072.66 233.82 15,306.48 1,092.07 2,472.62	72,829.43 1,628.52 74,457.95 6,267.23 16,983.88	57,198.92 1,224.76 58,423.68 2,731 .01 20,421 .17
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (d) Excise duty (e) Employee benefits expense (f) Depreciation and amortisation expense (g) Selling, marketing and distribution expense (h) Other expenses (i) Finance cost Total expenses	(4,028.29) - 6,041 .02 390.89 2,298.46 3,766.82 - 18,784.17	651.47 - 5,108.91 378.10 1,651 .37 4,268.74 - 17,809.51	783.69 - 4,429.66 355.08 2,111 .30 2,656.38 - 13,900.80	(137.78) - 19,739.86 1 ,492.41 7,980.28 14.865.72 - 67,191.60	(5,099.57) 98.50 15,039.40 1,473.75 7,280.51 12,098.90 - 54,043.67
3 4 5 6 7 8	Profit I (Loss) before exceptional and extraordinary items and tax (1-2) Exceptional items Profit I (Loss) before extraordinary items and tax (3+4) Extraordinary items Profit before tax (5+6) Tax expense - Current tax (Refer note 3) - Deferred tax Total tax expense	847.32 - 847.32 - 847.32 (1 48.42) 13.36 (135.06)	4,059.46 - 4,059.46 - 4,059.46 1,114.91 35.37 1,150.28	1,405.68 - 1,405.68 - 1,405.68 194.75 888.79 1,083.54	7,266.35 - 7,266.35 - 7,266.35 1,667.83 154.45 1,822.28	4,380.01 - 4,380.01 - 4,380.01 899.74 888.79 1,788.53
9 10	Profit/ (Loss) for the period (7 -8) Other comprehensive income A. Items that will not be reclassified to profit or loss Re-measurement gains/(losses) on post employment benefit obligations Income tax effect on above Total other comprehensive income/ (loss), net of income tax Total comprehensive income for the period (9+10)	982.38 231.31 (80.83) 150.48 1,132.86	2,909.18 (60.65) 21 .19 (39.46) 2,869.72	322.14 (633.10) 122.48 (510.62) (188.48)	5,444.07 (92.30) 32.25 (60.05) 5,384.02	2,591 .48 (350.50) 122.51 (227.99) 2,363.49
11 12 13	Paid-up equity share capital (Face value of Rs 2/- per equity share) Reserves (excluding revaluation reserves as per balance sheet) Earnings per equity share of Rs 2/- each (basic and diluted)	500.00 - 3.93	500.00 - 11.64	500.00 - 1.29	500.00 29,580.50 21.78	500.00 24,193.18 10.37

AstraZeneca Pharma India limited

Regd. Olnce: Block N1, 12th Floor, Manyata Embassy Business Park, Rachenahalll, Outer Ring Road, Bangalore 560 045 Statement of financial results for the quarter and year ended 31 March 2019

Noles:

• I The financial resulls have been prepared In accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) prescnbed under Secloon 133 of the Companies Act. 2013 and other recognised accounting practices and pohcles to the extent applicable.
• The Company has adopted lnd AS 115 "Revenue from Contracts with Customers· wolh effect from 01 Apnl, 2016 by applying the modified relrospechve approach. The Impact on account of adoption of lnd AS 115 as compared wilh lnd AS 16 on I he Statement of Assets and Uabohlies as al 31 March, 2019 and Statement of Financial Resulls for I he quarter and year ended March 3 1, 2019 is not material.
• 3 Current lax includes reversal of excess income lax provision of Rs. 75t lakhs pertaining to an earlier year.
• 4 The Company has Identified 'Heallhcare Segment' as lis only reponable segment in accordance wilh the requirements of lnd AS 108. 'Operating Segments'. Accordingly no segment information has been provided
• 5 As previously disclosed, by way of a leller dated I March 20t4, AslraZeneca Pharmaceuticals AB, lhe promoter of the Company had proposed a voluntary delisllng of the Company's equity shares from the National Stock Exchange and the Bombay Stock Exchange. Such proposed delisling is subject to an on·going inquiry wilh SEBI and lhal inquiry has not ye1 been resolved. In any event. based on I he passage of lime. any potential future proposal for voluntary deli sting of I he Company would need to be conducted de novo.
• 6 The figures for the quaner ended 31 March. 2019 and 31 March, 2018 are the balancing figures between the audited figures in respect of the full financoal year and lhe published unaudited year to dale figures up to the lhlrd quarter of I he respective financial year which were subjected to review by the statutory auditors.
• 7 Previous period's figures have been regrouped/reclassified, where necessary, to conform with the current period's presentation for the purpose of comparability.
• 8 This statement of financial resulls and statement or assets and liabilities was reviewed and recommended for approval by the Audit Commillee of the Board and subsequently approved by I he Board of Directors at their respective meetings held on 24 May 20 19.

Place: Bengaluru Date: 24 May, 2019

AstraZeneca Pharma India Limited Regd Office : Block N1, 12th Floor, Manyata Embassy Business Park, Rachenahalli, Outer Ring Road, Bangalore 660 046 Statement of assets and liabilities

			IRs in lakhs}
SI.No. Balance Sheet		As at	As at
		31 March 2019	31 March 2018
		(Audited}	(Audited}
ASSETS
1 Non-current assets
	(a) Property, plant and equipment	7,483.05	7,546.02
	(b) Capital work-in-progress	690.06	357.27
(c) Financial Assets
(i) loans		286.03	263.85
(d) Current tax assets		4,644.17	2,356.04
(e) Deferred lax assels		2,336.92	3,255.29
	(f) Other non-current assets	269.05	184.10
	Sub-total • Non-current assets	15.709.28	13,962.57
2 Current assets
(a) Inventories		11,810.74	11,315.10
(b) Financial Assets
	(i) Trade receivables	7,975.00	5,462.54
	(ii) Cash and cash equivalents	17,324.00	11 ,398.24
	(iii) Bank balances other than (ii) above	5.71	1.194.00
(iv) loans		81 .08	123.94
	(v) Other financial current assets	555.63	353.71
(c) Other current assets		2,720.09	2,243.82
	Sub-total ·Current assets	40.472.25	32,091.35
	TOTAL · ASSETS	66,181.63	46 053.92
1 EQUITY AND LIABILITIES
Equity
(a) Equity Share capital		500.00	500.00
(b) Other Equity		29,580.50	24.193.18
	Sub-total ·Shareholders' funds	30,080.50	24,693.16
LIABILITIES
Non-current liabilities
(a) Provisions		202.10	665.77
	Sub-total · Non-current liabilities	202.10	665.77
2 Current liabilities
(a) Financial liabilities
	(i) Trade payabies
	Total outstanding dues of micro enterprises and small enterprises	45.20
	Total outstanding dues of creditors other than micro enterprises and small enterprises	16,775.12	12,719.69
	(ii) Other financial liabilities	4,000.10	3,165.09
(b) 01her current liabilities		1.438.27	756.36
(c) Provisions		3,457.06	3,498.12
(d) Current tax liability		183.18	535.51
	Sub-total -Current liabilities	25,898.93	20,694.97
	TOTAL· EQUITY AND LIABILITIES	56181.53	46,053.92

Price Waterhouse & Co Chartered Accountants LLP

The Board of Directors AstraZeneca Pharma India Limited Block N 1, 12th Floor, Manyata Embassy Business Park, Rachenahalli, Outer Ring Road, Bengaluru- 560045

Independent Auditor's Repm1: on the Statement of financial results

1. We have audited the accompanying Statement containing the annual audited financial results of AstraZeneca Pha rma India Limited (the "Company") for the year ended March 31, 2019 together with the notes thereon (hereinafter referred to as the "Statement"), which we have signed under reference to this report.

Management's Responsibility for the financiali·esults

1. Management is responsible for the preparation of the accompanying Statement. The Management is also responsible for the preparation of the annual statutory financial statements in accordance with the Accounting Standards specified under Section 133 of the Companies Act, 2013 (the "accounting principles generally accepted in India"), basis which the above Statement containing the annual audited fina ncial results has been prepared. The responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the Statement that is free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

• 3- Our responsibility is to express an opinion on the Statement based on our audit. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 ("the Act") and other applicable authoritative pronouncements issued by the Institute of Cha1tered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
• 4- An audit involves pe1forming procedures to obtain audit evidence about the amounts and disclosures in the Statement. The procedures selected depend on the auditors' judgment, including the assessment of the lisks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropliateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as evaluating the overall presentation of the Statement.
• 5· We believe that the audit evidence we have obtained is sufficient and appropliate to provide a basis for our audit opinion.

Opinion

• 1. In our opinion and to the best of our information and according to the explanations given to us:
• i. the Statement, together with the notes thereon is presented in the format prescribed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and
• ii. the Annual audited standalone financial results for the year ended March 31, 2019 as set out in the Statement give a true and fair view of the total comprehensive income (comprising of profit and other comprehensive income), and other financial information of the Company for the year ended March 31, 2019 in accordance with the accounting principles generally accepted in India.

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Price Waterhouse & Co. (a Partnership Firm) converted into Price Waterhouse & Co Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-4362) with effect from July 7, 2014. Post its conversion to Price Waterhouse & Co Chartered Accountants LLP, its ICAI registration number is 304026EIE-300009 (I CAl registration number before conversion was 304026E)

Price Waterhouse & Co Chartered Accountants LLP

Emphasis ofMattct·

1. We draw your attention to Note 6 of the Statement regarding the figures for the quarter ended March 31, 2019, which are the balancing figures between audited figures in respect of the full financial year and the published year-to-date figures upto the third quarter of the current financial year.

Our opi nion is not qualified in respect of this matter.

Other Matter

1. The Statement dealt with by this report has been prepared for the express purpose of filing with Stock Exchanges on which the Company's shares are listed. This Statement is based on and should be read with the audited financial statements of the Company for the year ended March 31, 2019 on which we issued an unmodified audit opinion vide our report dated May 24, 20 19.

Our opinion is not qualified in respect of this matter.

Restriction on Usc

1. This rep01t is addressed to the Board of Directors of the Company and has been prepared for and only for the purposes set out in paragraph 8 above. This report should not be otherwise used by any other party for any other purpose.

For Price Waterhouse & Co Cha1tered Accountants LLP Firm Registration Number: 304026E/ E-300009

~~ Kanakia

Place: Bengaluru Date: May 24,2019 Pradip Partner Membership Number: 039985