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Aurobindo Pharma Ltd. — Annual Report 2021
May 31, 2021
61251_rns_2021-05-31_cc20ef77-7f50-4ca0-bee9-e34445bed21d.pdf
Annual Report
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May 31,2021
| To | To |
|---|---|
| Listing Department, | The Corporate Relations Department |
| NATIONAL STOCK EXCHANGE OF INDIA LIMITED | BSE LIMITED |
| Exchange Plaza, | Phiroz Jeejeebhoy Towers, |
| Bandra Kurla Complex, Bandra (E), | 25th floor, Dalal Street, |
| MUMBAI -400 051 | MUMBAI -400 001 |
| Company Code No. AUROPHARMA | Co~an"y Code No. 524804 |
Dear Sir,
Sub: Outcome of the Board Meeting held on May 31, 2021.
The Board of Directors of the Company at its meeting held today, May 31,2021, has inter alia, considered and approved:-
-
- the standalone and consolidated Audited Financial Results of the Company for the fourth quarter and year ended March 31, 2021 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. We enclose herewith the said Audited Financial Results of the Company along with the Auditors Report issued by the Statutory Auditors. Pursuant to Regulation 33(3)(d) of SEBI Listing Regulations, we hereby confirm and declare that the Statutory Auditors of the Company, MIs. B S R & Associates LLP, Chartered Accountants, have issued the audit report on Standalone and Consolidated Financial Results of the Company for the fourth quarter and year ended March 31,2021 with unmodified opinion.
-
- transfer of all equity shares held in Aura Cure Private Limited, a wholly owned subsidiary of the Company, to Eugia Pharma Specialities Limited, another wholly owned subsidiary of the Company.
Additional Disclosures as required under SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, for sale or disposal of unit(s) or division(s) or subsidiary of the listed entity are provided at Annexure-"A".
- transfer of business undertaking comprised in Unit-16 of the Company, on a going concern basis, to Wytells Pharma Private Limited, a wholly owned step-down subsidiary of the Company. Wytells Pharma Private Limited is a 100% subsidiary of Eugia Pharma Specialities Limited which in turn is a wholly owned subsidiary of the Company.
Additional Disclosures as required under SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, for sale or disposal of unit(s) or division(s) or subsidiary of the listed entity are provided at Annexure-"B".
- The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee and subject to the approval of the members in the forthcoming Annual General Meeting, has approved:

(CIN: l24239TG1986PlC0151901 AUROBINDO PHARMA LIMITED PAN No. AABCA7366H
Corp. Off.: Galaxy. Floors: 22·24. Plot No.1. Survey No.83/1. Hyderabad Knowledge City. Raidurg Panmaktha. Ranga Reddy District. Hyderabad - 500 032, lelangana, India. lei: +91 406672 5000 166721200 Fax: +91 4067074044.
Read. off.: Plot No.2. Maithrivihar. Ameerpet. Hyderabad· 500 038 l.S .• INDIA lei: +91 4023736370/23747340 Fax: +914023741080/23746833

- (a) the re-appointment of Mr. K. Nithyananda Reddy as Whole-time Director designated as Vice Chairman of the Company for a period of 3 years with effect from June 1, 2021. He is related to Mr. P. Sarath Chandra Reddy, Whole-time Director of the Company;
- (b) the re-appointment of Mr. N. Govindarajan as Managing Director of the Company for a period of 3 years with effect from June 1, 2021. He is not related to any other Directors of the Company;
- (c) the re-appointment of Mr. Dr. M. Sivakumaran as Whole-time Director of the Company for a period of 3 years with effect from June 1, 2021. He is not related to any other Directo~s of the Company and
- (d) the re-appointment of Mr. M. Madan Mohan Reddy as Whole-time Director of the Company for a period of 3 years with effect from June 1, 2021. He is not related to any other Directors of the Company.
We hereby affirm that Mr. K. Nithyananda Reddy, Mr. N. Govindarajan, Dr. M. Sivakumaran, and Mr. M. Madan Mohan Reddy are not debarred from holding the office of Director by virtue of any SEBI order or any such authority. A brief profile of Mr. K. Nithyananda Reddy, Mr. N. Govindarajan, Dr. M. Sivakumaran, and Mr. M. Madan Mohan are enclosed as Annexure - C.
We also enclose a copy of the Press Release on Audited Financial Results of the Company for the fourth quarter and year ended March 31,2021.
''l·S' The Board meeting commenced at 9.00 a.m. and concluded at __ 0p.m.
Please take the information on record.
Yours faithfully, For AUROBINDO PHARMA LIMITED
~S. Q-p_
B.AdiReddy Company Secretary
Enclosures: as above.

(CIN : l24239TG 1986PlC015190) AUROBINDO PHARMA LIMITED PAN No. AABCA7366H
Corp. Off.: Galaxy. Floors: 22-24. Plot No.1. Survey No.03/1. Hyderabad Knowledge City. Raidurg Panmaktha. Ranga Reddy District. Hyderabad - 500 032. lelangana.lndia_ lei: +91406672 5000 16672 1200 Fax: +914067074044.
RBgd. off.: Plot No.2. Maithrivihar. Ameerpet. Hyderabad - 500 030 1.S .. INDIA lei: +91 402373 6370/23747340 Fax: +914023741000/23746033
, .
AUROBINDO PHARMA LIMITED (CIN - L24239TG1986PLC015190)
Regd. Office: Plot No.2, Maitrivihar, Ameerpet, Hyderabad - 500 038, India
Tel: +91 040 23736370; Fax' +9140 23747340, ' Email' [email protected] (Rs. In ~kllS )
| STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31.03.2021 | |||||||
|---|---|---|---|---|---|---|---|
| Quarter ended | Year ended | ||||||
| Particulars | 31.03.2021 | 31.12.2020 | 31.03.2020 | 31.03.2021 | 31.03.2020 | ||
| Audited | Unaudited | Audited | Audited | Audited | |||
| 1 Revenue from operations | |||||||
| (a) Net sales/ income from operations | 410,361 | 372,545 | 355,235 | 1,562,218 | 1,303,882 | ||
| (b) Other operating income | 1,042 | 972 | 8,604 | 20,150 | 33,195 | ||
| Total revenue from operations | 411,403 | 373,517 | 363,839 | 1,582,368 | 1,337,077 | ||
| 2 Other income | |||||||
| (a) Foreign exchange gain (net) (refer note 7) | 3,963 | 6,433 | 4,757 | 18,544 | 8,767 | ||
| (b) Others | 22,779 | 9,399 | 10,893 | 40,442 | 15,576 | ||
| Total other income | 26,742 | 15,832 | 15,650 | 58,986 | 24,343 | ||
| Total income (1+2) | 438,145 | 389,349 | 379,489 | 1,641,354 | 1,361,420 | ||
| 3 Expenses | |||||||
| (a) Cost of materials consumed | 180,316 | 176,731 | 180,735 | 721,573 | 681,434 | ||
| (b) Purchase of stock-in-trade | 1,502 | 348 | 68 | 2,609 | 551 | ||
| (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress | 12,733 | (10,064) | (13,002) | 299 | (23,867) | ||
| (d) Employee benefits expense | 44,473 | 43,380 | 43,441 | 173,543 | 157,714 | ||
| (e) Finance costs | 593 | 586 | 2,030 | 2,868 | 9,791 | ||
| (f) Depreciation and amortisation expense | 12,407 | 12,221 | 11,968 | 48,799 | 47,333 | ||
| (g) Other expenses | 74,776 | 65,542 | 68,679 | 272,362 | 251,459 | ||
| Total expenses | 326,800 | 288,744 | 293,919 | 1,222,053 | 1,124,415 | ||
| 4 Profit before tax (1+2-3) | 111,345 | 100,605 | 85,570 | 419,301 | 237,005 | ||
| 5 Tax expense | |||||||
| Current taxDeferred tax | 20,8983,189 | 26,839175 | 18,460(4,654) | 104,3343,676 | 49,22988 | ||
| Total tax expense | 24,087 | 27,014 | 13,806 | 108,010 | 49,317 | ||
| 6 Profit for the period/year (4-5) | 87,258 | 73,591 | 71,764 | 311,291 | 187,688 | ||
| 7 Other Comprehensive income | |||||||
| Items that will not to be reclassified subsequently to profit or loss: | |||||||
| (a) Re-measurement of defined benefit liability | (254) | (244) | (860) | (986) | (1,952) | ||
| (b) Income-tax relating to items that will not be reclassified to profit or loss | 88 | 85 | 300 | 344 | 682 | ||
| 8 Total Comprehensive income for the period/year (6+7) | 87,092 | 73,432 | 71,204 | 310,649 | 186,418 | ||
| 9 Paid-up equity share capital (face value Re. 1 per share) | 5,859 | 5,859 | 5,859 | 5,859 | 5,859 | ||
| 10 Other equity | 1,586,602 | 1,299,391 | |||||
| 11 Earnings per equity share (face value Re. 1 per share) | (not annualised not annualised (not annualised) ( Annualised) | ( Annualised) | |||||
| (a) Basic (in Rs.) | 14.89 | 12.56 | 12.25 | 53.13 | 32.03 | ||
| bl Diluted (in Rs.) | 14.89 | 12.56 | 12.25 | 53.13 | 32.03 |

| As atAs atSI. PARTICULARS'11m.2020No.'11 0~.2021,Audited)'Audited)ASSETS1 Non-current assets440,791445,731Property, plant and equipment81,48571,902Capital work-in-progress699699Goodwill289776Intangible assets-1,587Intangible assets under developmentFinancial assets488,087252,739Investments24,07540,152Loans-Trade receivables12,89411,645Other financial assets12,2078,453Non-current tax assets (net)8,3246,105Other non-current assets827,5301,081,110Total non-current assets2 Current assets435,957484,138InventoriesFinancial assets212,904Investments592,801578,500Trade receivables8,36438,358Cash and cash equivalents253260Bank balances other than cash and cash equivalents1,2031,220Loans1,7746,775Other financial assets101,347102,761Other current assets1,237,7861,128,831Total current assets23188961956361TOTAL ASSETSEQUITY AND LIABILITIES1 Equity5,8595,859Equity share capital1,299,3911,586,602Other equity1,592,4611,305,250Total equityLiabilities2 Non-current liabilitiesFinancial liabilities7,4421,114Other financial liabilities - Lease liabilities-4,268Provisions43,3388,504Deferred tax liability (net)13,88650,780Total non-current liabilities3 Current liabilitiesFinancial liabilities373,032395,310BorrowingsTrade payables4,1571,571total outstanding dues of micro enterprises and small enterprises and204,521188,243total outstanding dues of creditors other than micro enterprises and small enterprises49,79339,603Other financial liabilities10,4739,649Other current liabilities11,10011,527Provisions13,901Current tax liabilities, net637,225675,655Total current liabilities2318896TOTAL EQUITY AND LIABILITIES | St;;Indalone balance sheet | (Rs . In lakhs) |
|---|---|---|
| 1956361 |
, j

| Standalone statement of cash flows | ||
|---|---|---|
| Standalone statement of casll flows | IRs. In lakhsl | ||
|---|---|---|---|
| 51. | For the year | For the year | |
| No, PARTICULARS | ended | ended | |
| 1 n ,n'1 | ~1 m ,,)1n | ||
| (Audited) | (Audited) | ||
| 1 CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net profit before tax | 419,303 | 237,005 | |
| Adjustments to reconcile profit before tax to net cash flow: | |||
| Depreciation and amoritsation expense | 48,799 | 47,333 | |
| Allowances for doubtful receivables/ provision for advances and other assets (net) | (3,154) | 5,367 | |
| Bad debts | 23 | 116 | |
| Provisions no longer required written back | (58) | (11) | |
| Unrealised foreign exchange gain (net) | (6,244) | (7,031) | |
| Mark-to-market Gain on derivative financial instruments | (1,901) | 223 | |
| Loss on sale of property, plant and equipment (net) | 17 | 240 | |
| Dividend income | (30,746) | (12,592) | |
| Finance costs | 2,597 | 9,362 | |
| Interest income | (4,019) | (1,586) | |
| Operating profit before working capital changes | 424,617 | 278,426 | |
| Movements in working capital: | |||
| Increase in trade receivables | (3,459) | (26,958) | |
| Increase in inventories | (48,181) | (33,153) | |
| Increase in loans | (110) | (258) | |
| Increase in other financial assets | (1,218) | (1,975) | |
| (Increase)/decrease in other current/non-current assets | (331) | 9,010 | |
| (Decrease)/increase in trade payables | (2,463) | 35,577 | |
| (Decrease)/increase in provision for retirement benefits | (5,681) | 1,912 | |
| Decrease in other financial liabilities | (223) | (20) | |
| Decrease in other current liabilities | (8241 | 14.554\ | |
| Casll generated from operating activities | 362,127 | 258,007 | |
| Income·tax paid (net) | (62685\ | (37.869\ | |
| Net casll flow generated from operating activities (A) | 299,442 | 220,138 | |
| 2 CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of property, plant and equipment including movement in capital work-in- | (39,673) | (68,162) | |
| progress, capital advances and capital creditors (net) | |||
| (Purchase)/sale of intangible assets under development | (2,217) | 3,195 | |
| Proceeds from sale of property, plant and equipment | 7,093 | 1,593 | |
| Purchase of non-current investments | (232,975) | (34,027) | |
| Purchase of current investments | (12,902) | ||
| Dividend received from subsidiaries | 30,746 | 12,899 | |
| Loans made to subsidiaries | (15,950) | (16,195) | |
| Loans repaid by subsidiaries | - | 4,350 | |
| Interest received | 1,005 | 1179 | |
| Net casll flow used in investing activities (8) | (264,873) | (95,168) | |
| 3 CASH FLOW FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of equity share capital | - | 19 | |
| RepaYment of current borrowings (net) | 24,316 | (97,006) | |
| Repayment of lease liabilities, net | (1,199) | (882) | |
| (2,480) | (9,069) | ||
| Interest paid | (17,562) | ||
| Dividend paid on equity shares | (23,431) | ||
| Tilx paid on equity dividendNet cash flow used in financing activities (e) | (2,794) | (966(125,466) | |
| Net increase in cash and cash equivalents (A+8+e) | 31,775 | (496) | |
| Cash and cash equivalents at the beginning of the period/year | 6,734 | 6,870 | |
| Effect of exchange differences on cash and cash equivalents | (151) | 297 | |
| On business combination | 63 | ||
| Casi) and cash eqUivalents at the end of the period/year | 38358 | 6734 | |
| Cash and cash equivalents comprises of: | |||
| Cash on hand | 10 | 14 | |
| Balance with banks: | |||
| Current accounts | 29,508 | 8,228 | |
| Cash credit accounts (net) | 8840 | (1 S08 | |
| Cash and Cash equivalents considered for cash flows | 38358 | 6734 | |
The above statement of cash flows has been prepared under the "Indirect method" as set out in Ind AS 7, "Statement of cash flows".

NOTES:
- 1 The financial results of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companie Act, 2013, read with the relevant rules issued thereunder.
- 2 The above standalone financial results as reviewed by the audit committee have been approved by the Board of Directors at its meeting held on 31 May 2021. Tile statutory auditors have carried out audit of the above results for the quarter and year ended 31 March 2021. An unmodified report has been issued by them thereon.
- 3 The Company operates in only one segment viz., 'Pharmaceutical Products'.
- 4 Sales of standalone include exports of Rs.356,286Iakhs for the current quarter (31 March 2020: Rs.311,197Iakhs).
- 5 The Government of India, on 20 September 2019, vide the Taxation Laws (Amendment) Ordinance 2019, the Ordinance inserted a new Section 115 BAA in the Income tax Act, 1961, which provides an option to the Company for paying income tax at reduced rates as per the provisions/conditions defined in the said section. The Company has evaluated the above Ordinance and based on its evaluation currently the management proposed to continue with the old tax rates.
- 6 During the financial year 2019-20, the Board of directors of the Company has approved for amalgamation of the five subsidiary Companies with Aurobindo Pharma Limited, the holding company with the appointed date of 1 April 2019. Accordingly, a Scheme of Amalgamation for merger of APL Healthcare Limited, APL Research Centre Limited, Aurozymes Limited, Curepro Parenterals Limited, Hyacinths Pharma Private Limited and Silicon Life Sciences Private Limited (a stepdown wholly owned subsidiary) with the Company was filed before the Hon'ble National Company Law Tribunal, Hyderabad (NCLT). Further, during the year, a modified Scheme Amalgamation was filed with the Hon'ble NCLT by way of filing an Interlocutory application for removal and complete exclusion of the APL Healthcare Limited as a party to the Scheme of Amalgamation. The Hon'ble NCLT vide order dated 30 March 2021 has approved the modified scheme of amalgamation and a certified copy has been filed by the Company with the Registrar of Companies, Telangana 29 April 2021. Accordingly, the subsidiaries viz. APL Research Centre Limited, Aurozymes Limited, Curepro Parenterals Limited, Hyacinths Pharma Private Limited and Silicon Life Sciences Private Limited (a stepdown wholly owned subSidiary) have now been merged with Aurobindo Pharma Limited. The appointed date as per the NCLT approved Scheme is 1 April 2019, which is the same as the beginning of the preceding period in the financial statements and hence, in line with the Scheme, the combination has been accounted for from that date as per the requirements of Appendix C to Ind AS 103 "Business Combination". Accordingly, the amounts relating to the three months and year ended 31 March 2021 include the impact of the business combination and the corresponding amounts for three months ended 31 December 2020 and 31 March 2020 and year ended 31 March 2020 shown in the statement, have been restated after recognising the effect of the Scheme as above.
Impact of the Scheme on the statement of standalone results
| Quarter ended Quarter ended | Year ended | Year ended | |||
|---|---|---|---|---|---|
| Particulars | 31.12.2020 | 31.03.2020 | 31.03.2021 | 31.03.2020 | |
| Total income | 1,766 | 1,396 | 7,261 | 8,972 | |
| Total expenses | 2,386 | 3,115 | 9,812 | 9,737 | |
| Loss before tax | (620) | (1,719) | (2,551) | (765) | |
| Tax expense/(benefit) | (160) | (979) | (657) | (1,179) | |
| Profit/(Lossj after tax | (460 | (740 | (1894 | 414 |
- 7 Foreign exchange gain includes exchange difference of Rs. Nil (31 March 2020: 14,537 Lakhs) arising from foreign currency borrowings to the extent that they are regarded as an adjustment to finance cost as per para 6(e) of Ind AS 23 on borrowing costs.
- 8 The Company continues to monitor the possible effects that may result from the pandemic relating to COVID-19. The Company continues to take several bl.lslness continuity measures with a view to ensure minimal disruption with respect to operations including production and distribution activities. The Company has not experienced any significant difficulties with respect to market demand, financing capital expansion projects, collections or liquidity In other markets. Based on internal and external sources of information, current economic environment and future economic Indicators, the Company has assessed the financial impact of the COVID-19 situation on its operations particularly on the carrying amounts of receivables, inventories, property, plant and equipment and intangible assets. Wherever considered necessary an assessment of the impact has been carried out and the necessary adjustments if material have been recorded. However, the impact of the pandemic could be different from those estimated today considering the uncertainties involved. The Company will continue to monitor any material changes to future economi c conditions.
- 9 The date of implementation of the Code of Wages 2019 and Code on Social Security, 2020 Is yet to be notified by the Government. The Company is in the process of assessing the impact of these Codes and will give effect in the financial results when the Rules/Schemes thereunder are notified.
- 10 The figures of the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between audited figures in respect of the full financial year upto 31 March 2021 and 31 March 2020 respectively and the unaudited published year to date figures upto 31 December 2020 and 31 December 2019 respectively, being the date of the end of the third quarter of the financial year. The standalone results for the nine months ended 31 December 2020 and 31 December 2019 have been subjected to the limited review by the statutory auditors.
| Place: Hyderabad | N. GovindarajanManaging Director |
|---|---|
| Date :31 May 2021 | DIN-00050482 |
Chartered Accountants
Salarpuriya Knowledge City, Orwell, B Wing, 6th Floor, Unit-3, Sy No. 83/1, Plot No. 02, Raidurg, Hyderabad – 500 081 - India
Telephone: +91 40 7182 2000 Fax: +91 40 7182 2399
INDEPENDENT AUDITOR'S REPORT
TO THE BOARD OF DIRECTORS OF AUROBINDO PHARMA LIMITED
Opinion
We have audited the accompanying standalone annual financial results of Aurobindo Pharma Limited (hereinafter referred to as the ''Company") for the year ended 31 March 2021, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:
- i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2021.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.
Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results
These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.
INDEPENDENT AUDITOR'S REPORT (continued)
Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results (continued)
The Company's Management and Board of Directors are responsible for the preparation of these standalone annual financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on
INDEPENDENT AUDITOR'S REPORT (continued)
Auditor's Responsibilities for the Audit of the Standalone Financial Results (continued)
whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.
- Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
INDEPENDENT AUDITOR'S REPORT (continued)
Other Matters
-
- The standalone annual financial results include the results for quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
-
- The standalone financial results of the company include the financial results of 5 wholly owned subsidiaries whose standalone financial results reflect total assets (before inter-company adjustments) of Rs. 69,855 lakhs as at 31 March 2021 (31 March 2020: Rs. 54,789 lakhs) and the total revenue (before inter-company adjustments) of Rs. 14,627 lakhs (31 March 2020: Rs. 11,091 lakhs) for the year ended on that date. These subsidiaries have been merged with the Company vide The Hon'ble National Company Law Tribunal, Hyderabad order dated 30 March 2021. These subsidiaries have been audited by other auditors whose reports have been furnished to us, and our opinion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the report of such other auditors.
Further, standalone financial results include total revenue (before inter-company adjustments) for the quarter ended 31 March 2021, 31 March 2020 and 31 December 2020 of Rs. 3,537 lakhs, Rs. 2,825 lakhs and Rs. 4,272 lakhs respectively related to aforesaid subsidiaries. The financial results of the aforesaid subsidiaries for these quarters have not been subjected to review or audit. In our opinion and according to the information and explanations given to us by the Management, the financial results of subsidiaries are not material to the Company.
For B S R & Associates LLP Chartered Accountants ICAI Firm Registration No. 116231W/W-100024
Sriram Mahalingam Partner Membership No: 049642 UDIN: 21049642AAAABR5501
Place: Palakkad Date: 31 May 2021
AUROBINDO PHARMA LIMITED
(CIN - L24239TG1986PLC015190)
Regd. Office: Plot No.2, Maitrivihar, Ameerpet, Hyderabad - 500 038, India
| Tel ' +91 040 23736370, ' FaX' +9140 23747340' Email ' info@aurobindo com | (Rs In lakhs) | ||||
|---|---|---|---|---|---|
| STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31.03.2021 | |||||
| Quarter ended | Year ended | ||||
| Particulars | 31.03.2021 | 31.12.2020 | 31.03.2020 | 31.03.2021 | 31.03.2020 |
| Audited | Unaudited | Audited | Audited | Audited | |
| 1 Revenue from operations | |||||
| (a) Net sales/ income from operations | 599,168 | 635,313 | 606,340 | 2,455,795 | 2,273,795 |
| (b) Other operating income | 982 | 1,178 | 9,503 | 21,668 | 36,055 |
| Total revenue from operations | 600,150 | 636,491 | 615.843 | 2,477,463 | 2,309,850 |
| 2 Other income | |||||
| (a) Foreign exchange gain (net) (refer note 7) | 1,423 | 6,056 | - | 10,358 | - |
| (b) Others | 6.387 | 7,284 | 3,259 | 27,726 | 8.620 |
| Total other income | 7,810 | 13,340 | 3,259 | 38,084 | 8,620 |
| Total income (1+2) | 607,960 | 649,831 | 619,102 | 2,515,547 | 2,318,4'10 |
| 3 EICpenses(a) Cost of materials consumed | 199,014 | 200,379 | 203,798 | 831,727 | 772,498 |
| (b) Purchase of stock-in-trade | 49,225 | 54,696 | 51,324 | 231,542 | 21l,211 |
| (c) Changes in inventories of finished goods, stock-in-trade and work-in- | (7,530) | 2,152 | (4,785) | (73,021) | (10,186) |
| oroe:ress(d) Employee benefits expense | 85,440 | 88,073 | 86,433 | 353,502 | 321,918 |
| (e) Finance costs | 1,822 | 1,949 | 3,183 | 7,1149 | 15,977 |
| (f) Foreign exchange loss (net) (refer note 7) | - | - | 2,619 | - | 3,970 |
| (g) Depreciation and amortisation expense | 26,600 | 27,652 | 23,241 | 105,538 | 9G,G71 |
| (h) Other expenses | 146,534 | 154,333 | 144,832 | 600,372 | 527,979 |
| Total expenses | 501,105 | 529,234 | 510,645 | 2,057,109 | 1,940,038 |
| 4 Profit before share of profit of Joint ventures, exceptional items and tax (1+2-3) | 106,855 | 120,597 | 108,457 | 11 58,438 | 378,432 |
| (837) | (1,44G) | (1,931) | (5,536) | (1,517) | |
| 5 Shore of loss of joint ventures, net of tax6 Profit before exceptional items and tax (4+5) | 106,018 | 119,151 | 106,526 | 452,902 | 376,915 |
| 7 Exceptional items (refer note 4) | (69) | (281,389) | (1,225) | (281,458) | 2,613 |
| 8 Profit before tax (6-7) | 106,087 | 400,540 | 107,751 | 734,360 | 374,302 |
| 9 Tax expense | |||||
| Current tax | 44,923 | 108,315 | 31,027 | 232,536 | 94,043 |
| Tax credit - Minimum Alternate Tax (MAT) | (354) | 570 | (354) | 295 | |
| Deferred tax | (18,600) | (2,407) | (10,162) | (31,205) | (4.403) |
| Total tax expense | 25,969 | 105,908 | 21,435 | 200,9n | 89,935 |
| 10 Profit for the period/vear (8-9) | 80,118 | 294,632 | 86,316 | 533,383 | 284,367 |
| 11 Other Comprehensive Income | |||||
| A) Items that will not be reclassified subsequently to profit or loss: | |||||
| i) Re-measurement of defined employee benefit liability | (23Z) | (248) | (860) | (980) | (1,9S8) |
| ii) Income-tax relating to items that will not be reclassified to profit or loss | 102 | 89 | 301 | 370 | 684 |
| (iii) Equity investments through other comprehensive income - net change infair value | (339) | 18 | - | (359) | - |
| B) Items that will be reclassified subsequently to profit or loss: | |||||
| i) Exchange differences on translating the financial statements of foreign | (8,137) | 7,440 | 15,446 | 1,443 | 29,998 |
| ooerations | |||||
| ii) Income-tax on items that will be reclassified subsequently to profit or loss | - | - | |||
| Total other comprehensive income for the period/year (net of tax) | (8,606) | 7,299 | 14,887 | 474 | 28,724 |
| 12 Total Comprehensive Income for the period/year (net of tax) (10+11) | 71,512 | 301,931 | 101,203 | 533,857 | 313,091 |
| Attributable to: | |||||
| Owners of the Parent Company | 71,552 | 301,945 | 101,287 | 533,959 | 313,237 |
| Non-controlling interest | (40) | (14) | (84) | (102) | (146) |
| Out of total comprehensive income above, | |||||
| Profit for the year attributable to: | |||||
| Owners of the Parent Company | 80,158 | 294,646 | 86,400 | 533,485 | 284,513 |
| Non-controlling interest | (40) | (14) | (84) | (102) | (146) |
| Other comprehensive Income attributable to: | |||||
| Owners of the Parent Company | (8,606) | 7,299 | 14,887 | 474 | 28,724 |
| Non-control ling interest | - | - | - | - | |
| 13 Pald·up equity share capital (face value Re. 1 per share) | 5,859 | 5,859 | 5,859 | 5,859 | 5,859 |
| 14 Other equity | 2,187,127 | 1,G76,607 | |||
| 15 Earnings per equity share (face value Re. 1 per share) | (not annualised) (not annua\lsed (not annuallsed ( Annualised) | (Annuallsed) | |||
| (a) Basic (in Rs.) | 13.67 | 50.29 | 14.73 | 91.04 | 48.54 |
| lib) Diluted lin RS.\ | 13.67 | 50.29 | 14.73 | 91.04 | 48.54 |

| Consolidated balance sheet | IRs. Illlakhsl | ||
|---|---|---|---|
| SI. | PARTICULARS | As at | As at |
| No. | 31 0~ 2021 | '1 1.03.2020 | |
| IAuditedl | (Audited! | ||
| ASSETS | |||
| 1 Non-current assets | |||
| PrOperly, plant and equipment | 688,662 | 649,481 | |
| Capital work-in-pro~ress | 242,889 | 162,180 | |
| Goodwill | 42,890 | 91,594 | |
| Other intan~ible assets | 205,806 | 198,572 | |
| 63,264 | 36,412 | ||
| Intan~ible assets under development | |||
| Investments accounted for using the equity method | 9,470 | 40,961 | |
| Financial assets | |||
| Investments | 33,651 | 14,507 | |
| Loans | 726 | 584 | |
| Trade receivables | - | - | |
| Other financial assets | 14,331 | 11,703 | |
| Deferred tax assets (net) | 45,268 | 16,320 | |
| Non- current tax assets (net) | 12,826 | 8,453 | |
| Other non-current assets | 43,265 | 20,755 | |
| Total non-current assets | 1,403,048 | 1,251,522 | |
| 2 Current assets | |||
| Inventories | 902,657 | 769,987 | |
| Financial assets | |||
| Investments | 15,980 | 2 | |
| Trade receivables | 350,328 | 431,516 | |
| Cash and cash equivalents | 537,347 | 276,371 | |
| Bank balances other than cash and cash equivalents | 10,080 | 7,844 | |
| Loans | 1,432 | 1,368 | |
| Other financial assets | 3,386 | 4,008 | |
| Current tax assets (n et) | 7,898 | 1,575 | |
| Other current assets | 144,881 | 148,579 | |
| Assets held for sale | 8,361 | ||
| Total current assets | 1,982,350 | 1,641,250 | |
| TOTAL ASSETS | 3385398 | 2892772 | |
| EQUITY AND LIABILITIES | |||
| 1 Equity | |||
| Equity share capital | 5,859 | 5,859 | |
| Other equity | 2187127 | 1 676607 | |
| Equity attributable to owners ofthe Parent Company | 2,192,986 | 1,682,466 | |
| Non-controlling interest | (89) | 13 | |
| Total equity | 2,192,897 | 1,682,479 | |
| Liabilities | |||
| 2 Non-current liabilities | |||
| Financial liabilities | |||
| Borrowings | 16,840 | ||
| Other financial liabilities - Lease liabilities | 26,619 | 26,441 | |
| Others | 5,410 | - | |
| Provisions | 15,712 | 7,471 | |
| Deferred tax liabilities (net) | 57,456 | 29,169 | |
| Other non-current liabilities | 3,950 | 8,749 | |
| Total non-current liabilities | 125,987 | 71,830 | |
| 3 Current liabilities | |||
| Financial liabilities | |||
| Borrowings | 480,271 | 542,230 | |
| Trade payables | |||
| total outstanding dues of micro enterprises and small enterprises and | 1,769 | 4,278 | |
| total outstanding dues of creditors other than micro enterprises and small enterprises | 277,698 | 253,325 | |
| Other financial liabilities | 212,929 | 223,869 | |
| Other current liabilities | 55,618 | 63,587 | |
| Provisions | 17,193 | 41,665 | |
| Current tax liabilities (net) | 21,036 | 9,509 | |
| Total current liabilities | 1,066,514 | 1,138,463 | |
| TOTAL EQUITY AND LIABILITIES | 3 385.398 | 2892772 |

| C(',uolidated statement of cash flows | (Rs, In lakhsl | ||
|---|---|---|---|
| 51, | For the year | For the year | |
| No, PARTICULARS | ended | ended | |
| n, 'M1 | 01 no ,n,n | ||
| (Audltedl | (Audited) | ||
| 1 CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net profit before tax | 734,360 | 374,302 | |
| Adjustments to reconcile profit before tax to net cash flows : | |||
| Depreciation and amortisation expense | 105,538 | 96,671 | |
| Allowance for doubtful receivables/(written back) (net) | (2,912) | 6,159 | |
| Liabilities no longer required written back (net) | (5,340) | (2,632) | |
| Bad debts/advances written off | 2,816 | 694 | |
| Product destruction expenses / stock written off | 2,052 | 981 | |
| Mark-to-market gain on derivative financial instruments | (1,982) | 223 | |
| Unrealised foreign exchange gain (net) | (10,895) | (7,456) | |
| Loss on sale / write-off of property, plant and equipment and intangibles under development (net) | 14,112 | 3,703 | |
| Share of loss/(profit) of joint ventures | 5,536 | 1,517 | |
| Exceptional items | (281,458) | - | |
| Finance costs | 5,957 | 14,163 | |
| In terest income | (2,237) | (2,090) | |
| 2,548 | (2816 | ||
| Effect of exchange rate changes | |||
| Operating profit before working capital changes | 568,095 | 483,419 | |
| Movements in working capital: | |||
| Increase in inventories | (159,358) | (52,698) | |
| Decrease/(increase) in trade receivables | 71,588 | (65,612) | |
| (Increase)/decrease in other financial assets | (860) | 126,979 | |
| Decrease/(increase) in other current/non-current assets | 1,808 | (12,778) | |
| (390) | (280) | ||
| Increase in loans | |||
| Increase in trade payables | 12,642 | 29,588 | |
| (Decrease)/increase in provision for retirement benefits | (17,360) | 10,104 | |
| (Decrease) in other current/non-current liabilities | (14,669) | (7,792) | |
| (Decrease)/increase in other financial liabilities | /79 | 3281 | |
| 514,211 | |||
| Cash generated from operating activities | 461,417 | ||
| Direct taxes paid (net of refunds) | 1128,525 | 176084 | |
| Net cash generated from operating activities (A) | 332892 | 438 1.27 | |
| 2 CASH FLOW FROM INVESTING ACTIVITIESPurchase of property, plant and equipment, including movement in capital work- In- progress, capital advances andc.apltal creditors (net) | (143,794) | (138,273) | |
| (4,834) | |||
| Purchase of intangible assets and intangible assets under development | (43,587) | ||
| Proceeds from sale of property, plant and equipment and intangible assets | 4,817 | 1,900 | |
| Business acquisitions (net of settlement of purchase consideration) | - | 1,035 | |
| Acquisition of a subsidiary, net of cash and cash equivalents acquired | (27,421) | - | |
| 317,391 | - | ||
| Proceeds from sale of subsidiary (net of tax) | |||
| Purchase of non-current investments made in joint ventures | (30,763) | (17,910) | |
| Purchase of current investments | (15,978) | - | |
| Bank balances not considered as cash and cash equivalents (net) | (2,711) | (859) | |
| Interest received | 1,915 | 1,934 | |
| Dividend received from joint venture | - | 244 | |
| Net cash used in investing activities (8) | 59 8.69 | 1156763 | |
| 3 CASH FLOW FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of equity share capital | 19 | ||
| 17,689 | - | ||
| Proceeds from non-current borrowings | |||
| Repayment of non-current borrowings | (46,812) | (21,698) | |
| Repayment of current borrowings (net) | (66,889) | (131,297) | |
| Finance costs paid | (4,806) | (12,661) | |
| Repayment of lease liabilities (net) | (12,232) | (10,241) | |
| Dividends paid on equity shares | (23,431) | (17,561) | |
| Tax paid on equity dividend | - | (1,279) | |
| Net cash used in from financing activities (C) | 1136481 | (194718 | |
| (A + 8 + C) | 256,280 | 86,646 | |
| Net increase in cash and cash equivalents | |||
| Cash and cash equivalents at the beginning of the year | 274,682 | 187,559 | |
| Add: Cash and cash equivalents on acquisition of a subsidiary | 2,241 | - | |
| Effect of exchange differences on cash and cash equivalents | (212) | 477 | |
| Cash and cash equivalents at the end of the year | 532991 | 274682 | |
| Cash and cash equivalents comprise of: | |||
| Cash on hand | 28 | 36 | |
| Restricted Cash | 552 | - | |
| Balance with banks | |||
| - on current account | 527,862 | 263,495 | |
| - on cash credit account (net) | 4,484 | (1,569) | |
| - on deposit account | 65 | 12720 | |
| Cash and Cash equivalents considered for cash flows | 532991 | 274682 | |
- NOTES:
- 1 The financial results of the Group have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013, read with the relevant rules issued thereunder.
- 2 The above consolidated financial results have been prepared in accordance with principles and procedures as set out in the Ind AS 110 on "Consolidated fin cia l statements" and Ind AS 28 on "Investments in Associates and Joint ventures" notified under Section 133 of Companies Act, 2013 and Companies (Indian Accounting Standards) Rules, 2015, as amended.
- 3 The above consolidated financial results as reviewed by the audit committee have been approved by the Board of Directors at its meeting held on 31 May 2021. The statutory auditors have carried out audit of the above results for quarter and year ended 31 March 2021. An unmodified report has been issued by them thereon.
4 Profit before tax includes exceptional items of Rs. 69 lakhs for the quarter and Rs.281,458Iakhs for the year ended 31 March 2021 consists of: a. Rs. 309,665 lakhs gain on disposal of business assets of a wholly-owned step-down subsidiary, Natrol LLC, United States of America. Pursuant to the Board's approval on 25 October 2020, the Group entered Into a definitive agreement to dispose of business assets of Natrol LLC, as a going concern with related assets, liabilities, products, brands and employees for a cash price of USD 550 million.
b. Rs. 15,285 lakhs gain on account of remeasurement of equity interest in Eugia Pharma Specialties Limited, a joint venture company as at 6 November 2020. The Board in its meeting held on 16 October 2020 decided to enter into a share purchase agreement to acquire 100% equity share capital of MViyes Pharma Ventures Private Limited. MViyes is holding 29.13% shareholding in Eugia Pharma Specialties Limited, a joint venture company in which the Parent Company, through its wholly owned subsidiary company, is holding 70.87%. By this acquisition, both Eugia Pharma Specialties Limited and MViyes Pharma Ventures Private Limited have become wholly owned subsidiaries.
c. Rs. 43,492 lakhs impairment charges taken considering the difficult economic conditions and the continued impact of Covid 19 in certain markets towards product related intangibles and goodwill.
Tax expenses on the above exceptional item is Rs. 70,489 lakhs. Profit after tax excluding exceptional item (net of tax) for the quarter is Rs.80,128 lakhs and year ended 31 March 2021 is Rs. 322,414 lakhs.
- 5 The Group operates in only one segment viz., 'Pharmaceutical Products'.
- 6 During the quarter, the following companies have been incorporated:
- WYTELLS PHARMA PRIVATE LIMITED w.e.f 20 February 2021 as a subsidiary to Eugia Pharma Specialties Limited, India.
- 7 Foreign exchange gain includes exchange difference of Rs. Nil (31 March 2020: 14,537 Lakhs) arising from foreign currency borrowings to the extent that they are regarded as an adjustment to finance cost as per para 6(e) of Ind AS 23 on borrowing costs.
- 8 The Government of India, on 20 September 2019, vide the Taxation Laws (Amendment) Ordinance 2019, the Ordinance inserted a new Section 115BAA in the Income tax Act, 1961, which provides an option to the Company for paying income tax at reduced rates as per the provisions/conditions defined in the said section. Th e Parent Company has evaluated the above Ordinance and based on its evaluation currently the management proposed to continue with the old tax rates.
- 9 The Group continues to monitor the possible effects that may result from the pandemic relating to COVID-19. The Group continues to take several business continuity measures with a view to ensure minimal disruption with respect to operations including production and distribution activities. While the Group has exp erienced certain challenges in certain markets, where the impact of the pandemic is prolonged and business environment is impacted due to the uncertainty, the Group has not experienced any significant difficulties with respect to market demand, financing capital expansion projects, collections or liquidity in other markets. Based on internal and external sources of information, current economic environment and future economic indicators, Group has assessed the financial impact of the COVID-19 situation on its operations particularly on the carrying amounts of receivables, inventories, property, plant and equipment, goodwill and other intangible assets. Wherever considered necessary an assessment of the impact has been carried out and the impact if material on account of impairment have been recorded. However, the impact of the pandemic could be different from those estimated today considering the uncertainties involved. The Group will continue to monitor any maleoial changes lo fulul€ econoll1k colllliliulls.
- 10 The date of implementation of the Code of Wages 2019 and Code on Social Security, 2020 is yet to be notified by the Government. The Group is in the process of assessing the impact of these Codes and will give effect In the financial results when the Rules/Schemes thereunder are notified.
- 11 The figures of the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between audited figures in respect of the full financial year upto 31 March 2021 and 31 March 2020 respectively and the unaudited published year to date figures upto 31 December 2020 and 31 December 2019 respectively, being the date of the end of the third quarter of the financial year. The consolidated results for the nine months ended 31 December 2020 and 31 December 2019 have been subjected to the limited review by the statutory auditors.
Place: Hyderabad Date :31 May 2021

';7""
N. Govindarajan Managing Director DIN-00050482
Chartered Accountants
Salarpuriya Knowledge City, Orwell, B Wing, 6th Floor, Unit-3, Sy No. 83/1, Plot No. 02, Raidurg, Hyderabad – 500 081 - India
Telephone: +91 40 7182 2000 Fax: +91 40 7182 2399
INDEPENDENT AUDITORS' REPORT
TO THE BOARD OF DIRECTORS OF AUROBINDO PHARMA LIMITED
Report on the audit of the Consolidated Annual Financial Results
Opinion
We have audited the accompanying consolidated annual financial results of Aurobindo Pharma Limited (hereinafter referred to as the ''Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group"), and its joint ventures for the year ended 31 March 2021, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements/ financial information of the subsidiaries and joint ventures, the aforesaid consolidated annual financial results:
- a. include the annual financial results of the entities included in Annexure A;
- b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated total comprehensive income (comprising of consolidated net profit and other comprehensive income) and other financial information of the Group for the year ended 31 March 2021.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group and its joint ventures in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us along with the consideration of audit reports of the other auditors referred to in sub paragraph (a) of the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.
Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results
These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.
INDEPENDENT AUDITORS' REPORT (continued)
Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results (continued)
The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group including its joint ventures in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group and of its joint ventures are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Directors of the Holding Company, as aforesaid.
In preparing the consolidated annual financial results, the Management and the respective Board of Directors of the companies included in the Group and of its joint ventures are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group and of its joint ventures is responsible for overseeing the financial reporting process of each company.
Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
INDEPENDENT AUDITORS' REPORT (continued)
Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results (Continued)
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors.
- Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its joint ventures to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its joint ventures to express an opinion on the consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated annual financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in para (a) of the section titled "Other Matters" in this audit report.
We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
(a) The consolidated annual financial results include the audited financial results of 59 subsidiaries, whose financial statements/financial information reflect total assets (before consolidation adjustments) of Rs. 1,829,613 lakhs as at 31 March 2021, total revenue (before consolidation adjustments) of Rs. 1,002,727 lakhs and total net profit after tax (before consolidation adjustments) of Rs. 17,689 lakhs and net cash inflows (before consolidation adjustments) of Rs 10,934 lakhs for the year ended on that date, as considered in the consolidated annual financial results, which have been audited by their respective independent auditors. The consolidated annual financial results also include the Group's share of net loss after tax (before consolidation adjustments) of Rs. 5,647 lakhs for the year ended 31 March 2021, as considered in the consolidated annual financial results, in respect of 8 joint ventures,
INDEPENDENT AUDITORS' REPORT (continued)
Other Matters (continued)
whose financial statements/ financial information have been audited by their respective independent auditor.
Certain of these subsidiaries and joint ventures are located outside India whose financial statements/ financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries whose reports have been furnished to us by the Management. The Holding Company's Management has converted the financial statements/financial information of the subsidiaries and joint ventures both incorporated outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. Our opinion in so far as it relates to the balances and affairs of such subsidiaries and joint ventures both incorporated outside India is based solely on the reports of other auditors and the conversion adjustments, if any prepared by the Management of the Holding Company.
Our opinion on the consolidated annual financial results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.
(b) The consolidated annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
For B S R & Associates LLP Chartered Accountants ICAI Firm Registration No.: 116231W/W-100024
Sriram Mahalingam Partner Membership No: 049642 UDIN: 21049642AAAABS6836
Place: Palakkad Date: 31 May 2021
INDEPENDENT AUDITORS' REPORT (continued)
Annexure A
List of subsidiaries and joint ventures
| S.No. | Name of the component | Country | Relationship |
|---|---|---|---|
| 1 | APL Research Centre Limited (merged with Aurobindo PharmaLimited w.e.f 1st April 2019) | India | Subsidiary |
| 2 | APL Healthcare Limited | India | Subsidiary |
| 3 | Auronext Pharma Private Limited | India | Subsidiary |
| 4 | Silicon Life Sciences Private Limited (merged with AurobindoPharma Limited w.e.f 1st April 2019) | India | Subsidiary |
| 5 | Auro Peptides Limited | India | Subsidiary |
| 6 | APL Pharma Thai Limited | Thailand | Subsidiary |
| 7 | All Pharma (Shanghai) Trading Company Limited | China | Subsidiary |
| 8 | Aurobindo Pharma USA Inc. | USA | Subsidiary |
| 9 | Natrol LLC (upto 30 November 2020) | USA | Subsidiary |
| 10 | Aurolife Pharma LLC | USA | Subsidiary |
| 11 | Auro Health LLC | USA | Subsidiary |
| 12 | Auromedics Pharma LLC | USA | Subsidiary |
| 13 | Auro AR LLC | USA | Subsidiary |
| 14 | Auro Vaccines LLC | USA | Subsidiary |
| 15 | Auro Logistics LLC | USA | Subsidiary |
| 16 | Auro Packaging LLC | USA | Subsidiary |
| 17 | Aurobindo Pharma Produtos Farmaceuticos Limitada | Brazil | Subsidiary |
| 18 | Helix Healthcare B.V. | The Netherlands | Subsidiary |
| 19 | Aurogen South Africa (Pty) Ltd | South Africa | Subsidiary |
| 20 | Aurobindo Pharma (Pty) Limited | South Africa | Subsidiary |
| 21 | Novagen Pharma (Pty) Limited | South Africa | Joint venture |
| 22 | Auro Pharma Inc. | Canada | Subsidiary |
| 23 | Aurovida Farmaceutica SA DE CV | Mexico | Subsidiary |
| 24 | Aurobindo Pharma Japan K.K. | Japan | Subsidiary |
| 25 | Aurobindo Pharma Colombia S.A.S | Colombia | Subsidiary |
| 26 | Agile Pharma B.V. | The Netherlands | Subsidiary |
| 27 | Arrow Generiques SAS | France | Subsidiary |
| 28 | 1980 Puren Pharma GmbH | Germany | Subsidiary |
| 29 | Puren Pharma GmbH & Co., KG | Germany | Subsidiary |
| 30 | Aurovitas Spain SA | Spain | Subsidiary |
| 31 | Aurobindo Pharma B.V. | The Netherlands | Subsidiary |
| 32 | Aurex B.V. | The Netherlands | Subsidiary |
| 33 | Aurobindo Pharma GmbH | Germany | Subsidiary |
| 34 | Laboratorios Aurobindo S.L. | Spain | Subsidiary |
| 35 | Aurobindo Pharma (Italia) S.r. l | Italy | Subsidiary |
| 36 | Aurobindo Pharma (Romania) S.r.l. | Romania | Subsidiary |
| 37 | Pharmacin B.V. | The Netherlands | Subsidiary |
| 38 | Aurobindo Pharma (Malta) Limited | Malta | Subsidiary |
INDEPENDENT AUDITORS' REPORT (continued)
| S.No. | Name of the component | Country | Relationship |
|---|---|---|---|
| 39 | APL Swift Services (Malta) Limited | Malta | Subsidiary |
| 40 | Milpharm Limited | UnitedKingdom | Subsidiary |
| 41 | Aurovitas Pharma Polska Sp, z.o.o. | Poland | Subsidiary |
| 42 | Generis Farmaceutica S.A | Portugal | Subsidiary |
| 43 | Generis Phar, Unipessoal Lda. | Portugal | Subsidiary |
| 44 | Aurobindo Pharma Saudi Arabia Limited Company | Saudi Arabia | Subsidiary |
| 45 | Aurobindo Pharma Industria Farmaceutica Ltda | Brazil | Subsidiary |
| 46 | Hyacinths Pharma Private Limited (merged with AurobindoPharma Limited w.e.f 1st April 2019) | India | Subsidiary |
| 47 | Raidurgam Developers Limited | India | Joint Venture |
| (formerly Aurobindo Antibiotics Ltd) | |||
| 48 | AuroZymes Limited (merged with Aurobindo Pharma Limitedw.e.f 1st April 2019) | India | Subsidiary |
| 49 | Curepro Parenterals Limited (merged with Aurobindo PharmaLimited w.e.f 1st April 2019) | India | Subsidiary |
| 50 | Eugia Pharma Specialties Limited (upto 6 November 2020 | India | Joint Venture |
| 51 | Tergene Biotech Private Limited | India | Joint Venture |
| 52 | Auro Pharma India Private Limited | India | Subsidiary |
| 53 | Aurovitas Pharma (Taizhou) Ltd | China | Subsidiary |
| 54 | Acrotech Biopharma LLC | USA | Subsidiary |
| 55 | Aurovitas Pharma Ceska republika s.r.o (Merged with AurovitasSpol s.r.o on 8 July 2020,w.e.f 1 April 2020) | Czech Republic | Subsidiary |
| 56 | Purple Bellflower (Pty) Ltd | South Africa | Joint Venture |
| 57 | Auroscience (Pty) Ltd | Australia | Subsidiary |
| 58 | Auro Science LLC | USA | Subsidiary |
| 59 | Apotex Nederland BV. | The Netherlands | Subsidiary |
| 60 | Aurovitas spol s.r.o (Formerly known as Apotex (CR) spol.s.r.o) | Czech Republic | Subsidiary |
| 61 | Apotex N.V. (Merged with Aurobindo N.V, Belgium on 31October 2020, w.e.f 01 April 2020) | Belgium | Subsidiary |
| 62 | Apotex Europe BV | The Netherlands | Subsidiary |
| 63 | Sameko Farma B.V. | The Netherlands | Subsidiary |
| 64 | Leidapharm B.V. | The Netherlands | Subsidiary |
| 65 | Marel B.V. | The Netherlands | Subsidiary |
| 66 | Pharma Dossier B.V. | The Netherlands | Subsidiary |
| 67 | Aurobindo Pharma FZ LLC | U.A.E. | Subsidiary |
| 68 | Curateq Biologics GmbH | Switzerland | Subsidiary |
| 69 | Luoxin Aurovitas Pharm (Chengdu) Co., Ltd. | China | Joint Venture |
| 70 | Auroactive Pharma Pvt Ltd | India | Subsidiary |
| 71 | Aurobindo N.V, Belgium | Belgium | Subsidiary |
| 72 | Longxiang Pharma Taizhou Co., Ltd | China | Joint Venture |
| S.No. | Name of the component | Country | Relationship |
|---|---|---|---|
| 73 | Novagen BBBEE Invest Co (Pty) Ltd | South Africa | Joint Venture |
| 74 | Curateq Biologics Private Limited (w.e.f. 25 April 2020) | India | Subsidiary |
| 75 | Auro Cure Private Limited (w.e.f. 5 July 2020) | India | Subsidiary |
| 76 | Auro Zest Private Limited (w.e.f. 6 August 2020) | India | Subsidiary |
| 77 | Aurobindo Antibiotics Private Limited (w.e.f. 6 October 2020) | India | Subsidiary |
| 78 | Eugia Pharma Specialities Limited (Subsidiary w.e.f. 6 November2020) | India | Subsidiary |
| 79 | Mviyes Pharma Ventures Private Limited (w.e.f. 6 November2020) | India | Subsidiary |
| 80 | Lyfius Pharma Private Limited (w.e.f. 16 November 2020) | India | Subsidiary |
| 81 | Qule Pharma Private Limited (w.e.f. 16 November 2020) | India | Subsidiary |
| 82 | Wytells Pharma Private Limited (w.e.f.20th February, 2021) | India | Subsidiary |
INDEPENDENT AUDITORS' REPORT (continued)

Annexure A
| Sr.No | Particulars | Response |
|---|---|---|
| The amount and percentage of theturnover or revenue or income and networth contributed by such unit or divisionof the listed entity during the last financial | Auro Cure Private Limited was incorporated on July 5th ,2020. It is a wholly owned subsidiary of Aurobindo PharmaLimited. | |
| year | Private Limited is a recently incorporatedAuro Curecompany and it does not contribute to any amount orpercentage of the turnover or revenue or income ofAurobindo Pharma Limited. | |
| 2 | Date on which the agreement for sale hasbeen entered into | The agreement will be entered into between Eugia PharmaSpecialities Limited and the Company on June 1,2021. |
| 3 | The expected date of completion of sale/disposal | The completion of the sale is estimated before June 30,2021. |
| 4 | Consideration received from suchsale/disposal | Share transfer of Auro Cure Private Limited will be done fora consideration of Rs. 44.25 crores, which is the project costincurred thus far. |
| 5 | Brief details of buyers and whether any ofthe buyers belong to the promoter/promoter group/group companies. If yes,details thereof | Eugia Pharma Specialities Limited, the Buyer, is a whollyowned subsidiary of Aurobindo Pharma Limited and doesnotpromoter/promotergroup/groupbelongtothecompanies. |
| Eugia is engaged in the business of research, manufactureand dealing in injectables. | ||
| 6 | Whether the transaction would fall withinrelated party transactions? If yes, whetherthe same is done at "arms length" | The Buyer is a wholly owned subsidiary of the Company, thetwo are related parties as per Regulation 2 (zb) of SEBI(ListingObligationsDisclosureRequirements)andRegulations, 2015. |
| The transactionis being undertaken between holdingcompany and its wholly owned subsidiary and accordinglythere is no impact on a consolidated basis. | ||
| As per provisions of Section 188 of Companies Act, 2013and Regulation 23(5)(b) of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, provisionsrelating to related party transactions are not applicable inrespect of transactions between holding company and itswholly owned subsidiary. | ||
| 7 | Additionally, in case of a slump sale,indicative disclosures provided foramalgamation/ merger, shall be disclosedby the listed entity with respect to suchslump sale | Not Applicable- |

Corp. Off.: Galaxy, Floors: 22·24, Plot No.1. Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, lelangana, India. Tel: +91406672 5000 16672 1200 Fax: +91 4067074044.
Regd. off.: Plot No.2, Maithrivihar, Ameerpet. Hyderabad· 500 038 l.S .• INDIA Tel: +914023736370/23747340 Fax: +91 4023741080/23746833

Annexure B
| Sr. No | Particulars | Response |
|---|---|---|
| The amount and percentage of theturnover or revenue or income andnet worth contributed by such unitor division of the listed entityduring the last financial year | The Unit 16 of the Company engaged in the business ofmanufacture of injectables, located at, Plot Nos. S-5/B, S-6 & S-7,Sy. Nos 408 to 412, 418 to 435, 437 to 445, 452 to 459 byadmeasurements of 22264 square metres or 26628 square yardsin Polepally Village, Jedcherla Mandai, Mahaboob Nagar District,Telangana ("Business Undertaking") is proposed to be transferredto Wytells Pharma Private Limited, a wholly owned step downsubsidiary of the Company. | |
| The turnover of the Business Undertaking for the year ended 3151March, 2021 was Rs. 397.2 crores representing 2.5% of theturnover of the Company on a standalone basis. | ||
| The net worth of the Business Undertaking proposed to betransferred, for the year ended 3151 March, 2021 was at Rs. 358.64crores representing 2.3% of the net-worth of the Company on astandalone basis. | ||
| 2 | Date on which the agreement forsale has been entered into | The agreement will be entered into between Wytells PharmaPrivate Limited and the Company within 30 days from the date ofboard meeting. |
| 3 | The expected date of completionof sale/disposal | The slump sale shall be subject to specific approvals such asapproval of TSIIC Limited, Unit Approval Committee, necessaryregulatory approval in the US, Europe etc. and customaryconditions precedent such as necessary corporate approvals,transferemployees,contracts,transferofimmovableofproperties, transition/ novation of licenses andothersuchapprovals as may be required. |
| The completion of the sale is estimated in the Second quarter ofFY 2021-22. | ||
| 4 | Consideration received from suchsale/disposal | Transfer of the Business Undertaking will be done for a lumpsumconsideration of Rs. 337 crores. This consideration is based onthe financial statements of the undertaking as on March 31,2021(on a debt free, cash free basis). |
| In addition to the adjustments as prescribed in the bindingdifferenceBusinessagreement,anythevalueoftheinUndertaking between April 1, 2021 and the Effective date of thetransaction will be adjusted to the amount of consideration. | ||
| 5 | Brief details of buyers and whetherany of the buyers belong to thepromoter/ promoter group/groupcompanies. If yes, details thereof | Wytells Pharma Private Limited, the Buyer, is a wholly ownedstep-down subsidiary of Aurobindo Pharma Limited and does notbelong to the promoter/promoter group/group companies.- |
AUROBINDO PHARMA LIMITED -5)0. L PAN No. AABCA7366H ("
(CIN : L24239TG 1986PLCO 15190)
~O l"AIT4
~ -~ V
Corp. Off.: Galaxy, Floors: 22·24, Plot No.1, Survey No.8l/1, Hyderabad Knowledge City, Raldurg Panmakth8, Ranga ReiJdy District. Hyderabad - 500 032, Telangana.lndia. Tel: +91406672 5000 /6672 1200 Fax: +914067074044.
Regd. off.: Plot No.2. Maithrivihar, Ameerpet. Hyderabad· 500 038 T.S .• INDIA Tel: +914023736370/23747340 Fax: +914023741080/23746833
www.aurobindo . com

| 6 | Whether the transaction would fallwithin related party transactions? Ifyes, whether the same is done at"arms length" | The Buyer is a wholly owned step-down subsidiary of theCompany, the two are related parties as per Regulation 2 (zb) ofObligationsRequirements)SEBI(ListingandDisclosureRegulations, 2015.The transaction is being undertaken between holding companyand its wholly owned step-down subsidiary and accordingly thereis no impact on a consolidated basis.As per provisions of Section 188 of Companies Act, 2013 andObligationsRegulation23(5)(b)oftheSEBI(ListingandDisclosure Requirements) Regulations, 2015, provisions relatingto related party transactions are not applicable in respect oftransactions between holding company and its wholly ownedsubsidiary. |
|---|---|---|
| 7 | Additionally, in case of a slumpsale, indicative disclosuresprovided for amalgamation/merger, shall be disclosed by thelisted entity with respect to suchslump sale. | Indicative disclosures required are provided hereunder: |
| 7.a | Name of the entity(ies) formingpart of the slump sale, details inbrief such as, size, turnover etc.; | The Unit 16 of the Company engaged in the business ofmanufacture of injectables, located at Plot Nos. S-5/B, S-6 & S-7,Sy. Nos 408 to 412, 418 to 435, 437 to 445, 452 to 459 byadmeasurements of 22264 square metres or 26628 square yardsin Polepally Village, Jedcherla Mandai, Mahaboob Nagar District,Telangana ("Business Undertaking") is proposed to be transferredto Wytells Pharma Private Limited, a wholly owned step-downsubsidiary of the Company. |
| The turnover of the Business Undertaking for the year ended 31 slMarch, 2021 was Rs. 397.2 crores representing 2.5% of theturnover of the Company on a standalone basis. | ||
| The net worth of the Business Undertaking proposed to betransferred, for the year ended 31 sl March 2021 was at Rs. 358.64crores representing 2.3% of the net-worth of the Company on astandalone basis. | ||
| 7.b | Whether the transaction would fallwithin related party transactions? Ifyes, whether the same is done at"arms length | The Buyer being a wholly owned step-down subsidiary of theCompany, the two are related parties as per Regulation 2 (zb) of(ListingObligationsDisclosureRequirements)SEBIandRegulations, 2015. |
| The transaction is being undertaken between holding companyand a wholly owned step-down subsidiary and accordingly thereis no impact on a consolidated basis._ollll"'' |
AUROBINDO PHARMA LIMITED f~~tl,. ~ PAN No. AABCA7366H
:::--:.: (CIN : L24239TG 1986PLCO 15190)
Corp. Off.: Galaxy, Floors: 22·24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel: +91406672 5000 /6672 1200 Fax: +91 4067074044.
Regd. off.: Plot No.2, Maithrivihar, Ameerpet. Hyderabad· 500 038 T.S .• INDIA Tel: +91 4023736370/23747340 Fax: +91 4023741080/23746833
www.aurobindo . com

| As per provisions of Section 188 of Companies Act, 2013 andRegulation23(5)(b)the(ListingObligationsandofSEBIDisclosure Requirements) Regulations, 2015, provisions relatingto related party transactions are not applicable in respect oftransactions between holding company and its wholly ownedsubsidiary. | ||
|---|---|---|
| 7.c | Area of business of the entity(ies) | Aurobindo Pharma Limited is engaged in pharmaceuticalbusiness.Wytells Pharma Private Limited is a company incorporated atHyderabad on February 20, 2021. |
| 7.d | Rationale for slump sale | The slump sale is proposed with the following objectives:1. For greater focus, attention and specialisation in Injectablesbusiness by carving out the unit into a subsidiary of Eugia.2. Improving operational efficiency by creating a lean, competitiveorganisation with focus on faster decision making.3. Greater visibility and accountability for performance.4. Augment fund raise and strategic tie ups in future through jointventures etc. |
| 7.e | In case of cash considerationamount or otherwise shareexchange ratio | Transfer of the Business Undertaking will be done for a lumpsumconsideration of Rs. 337 crores. This consideration is based onthe financial statements of the undertaking as on March 31, 2021(on a debt free, cash free basis).In addition to the adjustments as prescribed in the bindingdifferenceagreement,anythevalueoftheBusinessinUndertaking between April 1, 2021, and the Effective date of thetransaction will be adjusted to the amount of consideration. |
| 7.f | Brief details of change inshareholding pattern (if any) oflisted entity | There will be no change in the shareholding pattern of AurobindoPharma Limited. |

AUROBINDO PHARMA LIMITED PAN No. AABCA7366H
(CIN : L24239TG 1986PLCO 15190)
Corp. Off.: Galaxy, Floors: 22·24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel: +91406672 5000 /6672 1200 Fax: +91 40 67074044.

ANNEXURE-C
PROFILE OF DIRECTORS
Mr. K. Nityananda Reddy
Mr. K. Nityananda Reddy, holds a master's degree in Science (Chemistry). He has been associated with the Company since its initial days, acting as a promoter. He has expertise in manufacturing teqhnology and supervises the overall affairs of the Company.
Mr. N. Govindarajan
Mr. N. Govindarajan, is a B.E (Mechanical) from Annamalai Univ~rsity. He has close to 3 decades of experience across a variety of domains in pharmaceutical industry such as active ingredients, CRAMS, Finished Dosages, Biotechnology and vaccines. He joined Aurobindo Pharma Limited as Chief Executive Officer (API and CRAMS) in late 2010. Mr. N. Govindarajan oversees the Active Pharmaceutical Ingredients (APls) Operations and CRAMS business of the Company. Prior to joining Aurobindo Pharma, Mr. N. Govindarajan served as the Managing Director and CEO of Shasun Pharmaceuticals Limited.
Dr. M. Sivakumaran
(CIN: l24239TG1986PlC015190)
Dr. M. Sivakumaran holds a master's degree in Science and a Ph. D in Organic Chemistry. He has more than four decades of experience in the pharmaceutical industry and he is currently responsible for the technological evolution of the Company. Dr. M. Sivakumaran looks after research and development, new product development and total quality management.
Mr. M. Madan Mohan Reddy
Mr. M. Madan Mohan Reddy has a master's degree in Science (Organic Chemistry) and held top managerial positions in leading pharma companies. He commands over three decades of experience in pharmaceutical industry. He brings valuable experience in regulatory affairs of the pharma industry. Prior to joining the Company, he was working as the Managing Director of Mis. Srichakra Remedies Limited.

AUROBINDO PH ARM A LIMITED PAN No. AABCA7366H
Corp. Off.: Galaxy. Floors: 22·24. Plot No.1. Survey No.83/1. Hyderabad Knowledge City, Raidurg Panmaktha. Ranga Reddy District. HyderabBd - 500 032. Telangana.lndia. Tel: +91406672 5000 16672 1200 Fax: +914067074044.
Rend. off.: Plot No.2. Maithrivihar. Ameerpet. Hyderabad· 500 038 T.S .• INDIA Tel: +91 4023736370/23747340 Fax: +91 4023741080/23746833

NEWS RELEASE
31st May 2021, Hyderabad, India
Aurobindo Pharma Ltd FY21 & Q4 FY21 Consolidated Financial Results
| Amount in INR Cr | FY21 | FY20 | % Chg | |||||
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 24,774.6 | 23,098.5 | 7.3 | |||||
| EBITDA before Forex and Other income | 5,333.4 | 4,864.3 | 9.6 | |||||
| EBITDA margin (%) | 21.5% | 21.1% | ||||||
| PBT before Forex and Exceptional Items | 4,480.8 | 3,824.0 | 17.2 | |||||
| Net Profit after JV share, minority interest | 5,334.9 | 2,845.1 | 87.5 | |||||
| Amount in INR Cr | Q4FY21 | Q4FY20 | % Chg | Q3FY21 | % Chg | |||
| Revenue from Operations | 6,001.5 | 6,158.4 | -2.5 | 6,364.9 | -5.7 | |||
| EBITDA before Forex and Other income | 1,274.7 | 1,342.4 | -5.0 | 1,368.6 | -6.9 | |||
| EBITDA margin (%) | 21.2% | 21.8% | 21.5% | |||||
| PBT before Forex and Exceptional Items | 1,054.3 | 1,110.8-5.1 | 1,145.4 | -8.0 | ||||
| Net Profit after JV share, minority interest | 801.6 | 864.0 | -7.2 | 2,946.5 | -72.8 |
Note: Q4FY20 and FY20 numbers were given effect of NCLT order for merger of certain subsidiary companies with parent company
Consolidated financial performance excluding Natrol and exceptional items
| Amount in INR Cr | Q4FY21 | Q4FY20 | % Chg | Q3FY21 | % Chg | FY21 | FY20 | % Chg |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 6,007.1 | 5,886.1 | 2.1% | 6,064.8 | -1.0% | 23,680.8 | 21,989.7 | 7.7% |
| EBITDA before Forex andOther income | 1,276.4 | 1,305.3 | -2.2% | 1,280.7 | -0.3% | 4,997.1 | 4,602.6 | 8.6% |
| EBITDA % | 21.2% | 22.2% | 21.1% | 21.1% | 20.9% | |||
| Net Profit | 802.1 | 843.0 | -4.9% | 775.8 | 3.4% | 2,992.5 | 2,708.5 | 10.5% |
Note: Performance of Q4FY21 vs. Q4FY20 is not comparable as Q4FY20 includes MEIS benefits and certain additional income tax benefits
Key highlights of FY21 consolidated financials
- Revenue from Operations at INR 24,774.6 Cr, increased by 7.3% over last year. During the year, the Natrol business was divested. On a like to like basis, the revenue from operations increased by 7.7%.
- o US formulation revenue increased by 7.3% YoY to INR 12,324.5 Cr. Excluding Natrol, the US formulation revenue increased by 8.2% over last year.
- o Europe formulation revenue stood at INR 6,060.8 Cr, an increase of 2.3% over FY20.
- o Growth Markets posted a growth of 6.1% YoY to INR 1,437.9 Cr
- o ARV revenue up by 48.8% YoY to INR 1,862.8 Cr
- o API revenue for the year was at INR 3,085.9 Cr vs. INR 3,083.4 Cr in the corresponding previous period.
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

- EBIDTA before Forex and Other income at INR 5,333.4 Cr, an increase of 9.6% YoY; EBITDA margin for the year was at 21.5%
- Research & Development (R&D) spend at INR 1,510 Cr, 6.1% of revenues
- Received final approval for 42 ANDAs from USFDA including 17 injectables
- Reported Net Profit after JV share, minority interest at INR 5,334.9 Cr as against INR 2,845.1 Cr in the corresponding previous period, witnessed a growth of 87.5% YoY. Excluding exceptional items (net of tax), the net profit increased by 10.5%
- Basic & Diluted EPS is INR 91.04 per share.
Key highlights of Q4FY21 consolidated financials
- Revenue from Operations at INR 6,001.5 Cr, declined by 2.5% over corresponding previous period. Excluding sales from divested Natrol, the revenue from operations increased by 2.1%.
- o US formulation revenue of INR 2,856.0 Cr vs INR 2,990.3 Cr in Q4FY20, registering a decline of 4.5% YoY. US formulation revenue ex-Natrol increased by 5.3% YoY
- o Europe formulation revenue at INR 1,552.6 Cr, a decline of 6.0% YoY due to stocking up during the pandemic in Q4FY20
- o Growth Markets revenue decreased by 18.8% YoY to INR 305.7 Cr
- o ARV revenue at INR 491.2 Cr vs. INR 381.8 Cr, an increase of 28.7% over corresponding previous period
- o API revenue for the quarter at INR 794.3 Cr vs. INR 755.6 Cr in Q4FY20, an increase of 5.1% YoY over corresponding previous period
- EBIDTA before Forex and Other income at INR 1,274.7 Cr vs INR 1,342.4 Cr in Q4 last year; EBITDA margin for the quarter was at 21.2%
- Research & Development (R&D) spend at INR 457 Cr, 7.6% of revenues
- Received final approval for 9 ANDAs from USFDA including 3 injectables
- Reported Net Profit after JV share, minority interest at INR 801.6 Cr as against INR 864.0 Cr in the corresponding previous period. Net profit after JV share, minority interest is not comparable due to Natrol divestment. Adjusted net profit increased 3.4% QoQ.
- Basic & Diluted EPS is INR 13.67 per share.
Commenting on the Company's performance, Mr. N. Govindarajan, Managing Director of the company said: "We are pleased to have ended the fiscal year with steady growth across our key businesses in a dynamic environment affected by the pandemic. We made good progress on our pipeline efforts to focus more on differentiated and complex generic opportunities and reached important milestones in the journey during the year. We remain committed to ensure business continuity so that our products reach the patients globally in a timely manner while employee safety and health remains our key priority. We look forward to execute on our key growth pillars and drive profitable growth."
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

Operational Performance (Consolidated):
| Amount in INR Cr | FY21 | FY20 | % Chg |
|---|---|---|---|
| Formulations | |||
| USA | 12,324.5 | 11,483.5 | 7.3 |
| Europe | 6,060.8 | 5,921.8 | 2.3 |
| Growth Markets | 1,437.9 | 1,355.1 | 6.1 |
| ARV | 1,862.8 | 1,251.5 | 48.8 |
| Total Formulations | 21,686.0 | 20,011.9 | 8.4 |
| Active Pharmaceuticals Ingredients (API) | |||
| Betalactam | 1,730.1 | 1,998.9 | -13.4 |
| Non Betalactam | 1,355.8 | 1,084.5 | 25.0 |
| Total API | 3,085.9 | 3,083.4 | 0.1 |
| Consolidated Sales | 24,771.9 | 23,095.3 | 7.3 |
| Dossier Income | 2.8 | 3.2 | |
| Revenue from Operations | 24,774.6 | 23,098.5 | 7.3 |
| Amount in INR Cr | Q4 | Q4 | % Chg | Q3 | % Chg | |
|---|---|---|---|---|---|---|
| FY21 | FY20 | FY21 | ||||
| Formulations | ||||||
| USA | 2,856.0 | 2,990.3 | -4.5 | 3,171.6 | -10.0 | |
| Europe | 1,552.6 | 1,652.5 | -6.0 | 1,671.2 | -7.1 | |
| Growth Markets | 305.7 | 376.6 | -18.8 | 396.2 | -22.8 | |
| ARV | 491.2 | 381.8 | 28.7 | 443.4 | 10.8 | |
| Total Formulations | 5,205.4 | 5,401.2 | -3.6 | 5,682.4 | -8.4 | |
| Active Pharmaceuticals Ingredients (API) | ||||||
| Betalactam | 408.6 | 539.2 | -24.2 | 386.8 | 5.6 | |
| Non Betalactam | 385.7 | 216.4 | 78.2 | 295.6 | 30.5 | |
| Total API* | 794.3 | 755.6 | 5.1 | 682.5 | 16.4 | |
| Consolidated Sales | 5,999.7 | 6,156.7 | -2.6 | 6,364.9 | -5.7 | |
| Dossier Income | 1.8 | 1.7 | 0.0 | |||
| Revenue from Operations | 6,001.5 | 6,158.4 | -2.5 | 6,364.9 | -5.7 |
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.


Consolidated revenue breakup - Geography & segment wise
Formulations
Formulation revenue for the year recorded a growth of 8.4% YoY to INR 21,686.0 Cr and accounted for 87.5% of total revenues. For the quarter, Formulation revenue declined by 3.6% to INR 5,205.4 Cr. Formulation revenue Ex Natrol increased 8.9% for the year and 1.6% for the quarter.
US Formulations
- In FY21, US revenue increased by 7.3% YoY to INR 12,324.5 Cr and accounting 49.8% of consolidated revenue. During the year, Natrol business was divested. US revenue Ex Natrol increased by 8.2% YoY
- US revenue in Q4FY21 declined by 4.5% YoY to INR 2,856.0 Cr, accounting 47.6% of consolidated revenue. Excluding Natrol sales, the revenue increased by 5.3% YoY.
- Filed 9 ANDAs including 3 injectables with USFDA in Q4FY21
- Received final approval for 9 ANDAs including 3 injectables in Q4FY21
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

- As on 31 st Mar 2021, on a cumulative basis, the company filed 639 ANDAs with USFDA and received approval for 468 ANDAs including 29 tentative* approvals
- The company has launched 19 products during the quarter including 10 injectables *Tentative approvals include 8 ANDAs approved under PEPFAR.
Europe Formulations
- Europe revenue in FY21 posted a growth of 2.3% YoY to INR 6,060.8 Cr, accounting 24.5% of consolidated revenue.
- Europe revenue in Q4FY21 decreased by 6.0% YoY to INR 1,552.6 Cr due to stock-up at the start of pandemic in Q4FY20. The contribution of Europe was 25.9% of consolidated revenue
ARV Formulations
- ARV business revenue for FY21 was at INR 1,862.8 Cr compared to INR 1,251.5 Cr, an increase of 48.8% YoY and accounted for 7.5% of revenue. The increased conversion from TLE to TLD across geographies has aided the growth.
- ARV business revenue for Q4FY21 was at INR 491.2 Cr compared to INR 381.8 Cr in Q4FY20, an increase of 28.7% YoY and accounted for 8.2% of revenue.
Growth Markets Formulations
- Revenue from Growth Markets formulations in FY21 posted a growth of 6.1% YoY to INR 1,437.9 Cr and accounted for 5.8% of revenue.
- Revenue from Growth Markets formulations in Q4FY21 declined by 18.8% YoY to INR 305.7 Cr and accounted for 5.1% of revenue. The decline was due to low patient flow to hospitals and pharmacies in certain markets owing to the Covid situation.
API business
- In FY21, API business clocked a revenue of INR 3,085.9 Cr and contributed 12.5% to the consolidated revenues
- In Q4FY21, API business posted a revenue of INR 794.3 Cr, an increase of 5.1% YoY and contributed 13.2% to the consolidated revenue
- The company filed 1 DMFs with USFDA during the quarter.
Global Regulatory Filings:
| Filings | Q4FY20-21 | Cumulative Filings as on 31st Mar2021 |
|---|---|---|
| ANDAs (including filings made from AurobindoUSA) | 9 | 639 |
| DMFs (including filings made from AuroNext andAuroPeptide) | 1 | 252 |
| Formulations Dossiers in other key advancedmarkets (incl. Multiple registrations into Europe.South Africa and Canada) | 59 | 3,907 |
| API DMF/COS filings in other key regulatedmarkets (incl. Multiple registrations) | 47 | 3,217 |
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

USFDA Approvals Received in Q4FY20-21
Final Approvals
| # | Product | Therapy |
|---|---|---|
| 1 | Fosaprepitant Dimeglumine Inj (gEmend) 150mg/ vial | Anti-Emetic |
| 2 | Tobramycin Inhalation Sol (gTobi) 300mg/ 5ml | RespiratoryAgent |
| 3 | Isoproterenol HCL Inj (gIsuprel) 0.2mg/ 1 & 5 ml | CVS |
| 4 | Efinaconazole Topical Sol (gJublia) | Anti-Fungal |
| 5 | Naloxone HCL Inj (gNarcan) 2mg/ ml | Opioid Antagonist |
| 6 | Leflunomide Tab (gArava) 10mg and 20mg | Pain Relief |
| 7 | Droxidopa Cap (gNorthera)100mg, 200mg and 300mg | CVS |
| 8 | Potassium Chloride ER Tab 10mEq, 15mEq and 20 mEq | Nutritional Supplement |
| 9 | Phenylephrine HCL Inj 10 mg/ml | Sympathomimetic Agent |
Earnings call details
The company will host an earnings call at 6.00 PM IST on 31st May 2021, to discuss the performance and answer any questions from participants.
Participants can dial-in on the numbers below: Primary Number: +91 22 6280 1437 / +91 22 7115 8825
About Aurobindo Pharma Limited:
Aurobindo Pharma Limited (www.aurobindo.com), (NSE: AUROPHARMA, BSE: 524804, Reuters: ARBN.NS, Bloomberg: ARBP:IN) headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, EU, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retroviral, CVS, CNS, Gastroenterological, Pain management and Anti-Allergic, supported by an outstanding R&D set-up. The Company is marketing these products globally in over 150 countries.
For further information, please contact:
Krishna Kiran Investor Relations Phone: 040-66725401 / 66725000 Mobile: +91 98486 67906 Email: [email protected]
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

| Regd. Office: Plot No.2, Maitrivihar, Ameerpet, Hyderabad - 500 038, IndiaTel: +91 040 23736370; Fax: +91 40 23747340; Email: [email protected](Rs. In lakhs)STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31.03.2021Quarter endedYear endedParticulars31.03.202131.12.202031.03.202031.03.2021AuditedUnauditedAuditedAudited1 Revenue from operations(a) Net sales/ income from operations5,99,1686,35,3136,06,34024,55,795(b) Other operating income9821,1789,50321,668Total revenue from operations6,00,1506,36,4916,15,84324,77,4632 Other income(a) Foreign exchange gain (net) (refer note 7)1,4236,05610,358-(b) Others6,3877,2843,25927,726Total other income7,81013,3403,25938,084Total income (1+2)6,07,9606,49,8316,19,10225,15,54723,18,4703 Expenses(a) Cost of materials consumed1,99,0142,00,3792,03,7988,31,727(b) Purchase of stock-in-trade49,22554,69651,3242,31,542(c) Changes in inventories of finished goods, stock-in-trade and work-in(7,530)(4,785)(73,021)2,152progress(d) Employee benefits expense85,44088,07386,4333,53,502(e) Finance costs1,8221,9493,1837,449(f) Foreign exchange loss (net) (refer note 7)2,619---(g) Depreciation and amortisation expense26,60027,65223,2411,05,538(h) Other expenses1,46,5341,54,3331,44,8326,00,372Total expenses5,01,1055,29,2345,10,64520,57,1094 Profit before share of profit of joint ventures, exceptional items and tax1,06,8551,20,5971,08,4574,58,438(1+2-3)5 Share of loss of joint ventures, net of tax(837)(1,446)(1,931)(5,536)6 Profit before exceptional items and tax (4+5)1,06,0181,19,1511,06,5264,52,9027 Exceptional items (refer note 4)(69)(2,81,458)(2,81,389)(1,225)8 Profit before tax (6-7)1,06,0874,00,5401,07,7517,34,3603,74,3029 Tax expenseCurrent tax44,9231,08,31531,0272,32,536(354)(354)Tax credit - Minimum Alternate Tax (MAT)570-Deferred tax(18,600)(2,407)(10,162)(31,205)Total tax expense25,9691,05,90821,4352,00,97710 Profit for the period/year (8-9)80,1182,94,63286,3165,33,3832,84,36711 Other Comprehensive IncomeA) Items that will not be reclassified subsequently to profit or loss:i) Re-measurement of defined employee benefit liability(232)(248)(860)(980)ii) Income-tax relating to items that will not be reclassified to profit or loss10289301370(iii) Equity investments through other comprehensive income – net(339)(359)18-change in fair valueB) Items that will be reclassified subsequently to profit or loss:i) Exchange differences on translating the financial statements of foreign(8,137)7,44015,4461,443operationsii) Income-tax on items that will be reclassified subsequently to profit or----Total other comprehensive income for the period/year (net of tax)(8,606)7,29914,88747412 Total Comprehensive income for the period/year (net of tax) (10+11)71,5123,01,9311,01,2035,33,8573,13,091Attributable to:Owners of the Parent Company71,5523,01,9451,01,2875,33,959Non-controlling interest(40)(14)(84)(102)Out of total comprehensive income above,Profit for the year attributable to:Owners of the Parent Company80,1582,94,64686,4005,33,485Non-controlling interest(40)(14)(84)(102)Other comprehensive income attributable to:Owners of the Parent Company(8,606)7,29914,887474Non-controlling interest----13 Paid-up equity share capital (face value Re. 1 per share)5,8595,8595,8595,85914 Other equity21,87,12715 Earnings per equity share (face value Re. 1 per share)(not annualised)(not annualised)(not annualised) ( Annualised) (Annualised) | AUROBINDO PHARMA LIMITED(CIN - L24239TG1986PLC015190) | |||||
|---|---|---|---|---|---|---|
| 31.03.2020 | ||||||
| Audited | ||||||
| 22,73,795 | ||||||
| 36,05523,09,850 | ||||||
| - | ||||||
| 8,620 | ||||||
| 8,620 | ||||||
| 7,72,498 | ||||||
| 2,11,211 | ||||||
| (10,186) | ||||||
| 3,21,918 | ||||||
| 15,977 | ||||||
| 3,970 | ||||||
| 96,671 | ||||||
| 5,27,97919,40,038 | ||||||
| 3,78,432 | ||||||
| (1,517) | ||||||
| 3,76,915 | ||||||
| 2,613 | ||||||
| 94,043 | ||||||
| 295 | ||||||
| (4,403) | ||||||
| 89,935 | ||||||
| (1,958) | ||||||
| 684 | ||||||
| - | ||||||
| 29,998 | ||||||
| - | ||||||
| 28,724 | ||||||
| 3,13,237 | ||||||
| (146) | ||||||
| 2,84,513 | ||||||
| (146) | ||||||
| 28,724 | ||||||
| - | ||||||
| 5,859 | ||||||
| 16,76,607 | ||||||
| (a) Basic (in Rs.) | 13.67 | 50.29 | 14.73 | 91.04 | 48.54 | |
| (b) Diluted (in Rs.)13.6750.2914.7391.04 | 48.54 |
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

| Consolidated balance sheet | (Rs. In lakhs) | ||
|---|---|---|---|
| Sl. | PARTICULARS | As at | As at |
| No. | 31.03.2021 | 31.03.2020 | |
| (Audited) | (Audited) | ||
| ASSETS | |||
| 1 Non-current assets | |||
| Property, plant and equipment | 6,88,662 | 6,49,481 | |
| Capital work-in-progress | 2,42,889 | 1,62,180 | |
| Goodwill | 42,890 | 91,594 | |
| Other intangible assets | 2,05,806 | 1,98,572 | |
| Intangible assets under development | 63,264 | 36,412 | |
| Investments accounted for using the equity method | 9,470 | 40,961 | |
| Financial assets | |||
| Investments | 33,651 | 14,507 | |
| Loans | 726 | 584 | |
| Trade receivables | - | - | |
| Other financial assets | 14,331 | 11,703 | |
| Deferred tax assets (net) | 45,268 | 16,320 | |
| Non- current tax assets (net) | 12,826 | 8,453 | |
| Other non-current assets | 43,265 | 20,755 | |
| Total non-current assets | 14,03,048 | 12,51,522 | |
| 2 Current assets | |||
| Inventories | 9,02,657 | 7,69,987 | |
| Financial assets | |||
| Investments | 15,980 | 2 | |
| Trade receivables | 3,50,328 | 4,31,516 | |
| Cash and cash equivalents | 5,37,347 | 2,76,371 | |
| Bank balances other than cash and cash equivalents | 10,080 | 7,844 | |
| Loans | 1,432 | 1,368 | |
| Other financial assets | 3,386 | 4,008 | |
| Current tax assets (net) | 7,898 | 1,575 | |
| Other current assets | 1,44,881 | 1,48,579 | |
| Assets held for sale | 8,361 | - | |
| Total current assets | 19,82,350 | 16,41,250 | |
| TOTAL ASSETS | 33,85,398 | 28,92,772 | |
| EQUITY AND LIABILITIES | |||
| 1 Equity | |||
| Equity share capital | 5,859 | 5,859 | |
| Other equity | 21,87,127 | 16,76,607 | |
| Equity attributable to owners of the Parent Company | 21,92,986 | 16,82,466 | |
| Non-controlling interest | (89) | 13 | |
| Total equity | 21,92,897 | 16,82,479 | |
| Liabilities | |||
| 2 Non-current liabilities | |||
| Financial liabilities | |||
| Borrowings | 16,840 | ||
| Other financial liabilities - Lease liabilities | 26,619 | -26,441 | |
| Others | |||
| 5,410 | - | ||
| Provisions | 15,712 | 7,471 | |
| Deferred tax liabilities (net) | 57,456 | 29,169 | |
| Other non-current liabilities | 3,950 | 8,749 | |
| Total non-current liabilities | 1,25,987 | 71,830 | |
| 3 Current liabilities | |||
| Financial liabilities | |||
| Borrowings | 4,80,271 | 5,42,230 | |
| Trade payables | |||
| total outstanding dues of micro enterprises and small enterprises and | 1,769 | 4,278 | |
| total outstanding dues of creditors other than micro enterprises and small enterprises | 2,77,698 | 2,53,325 | |
| Other financial liabilities | 2,12,929 | 2,23,869 | |
| Other current liabilities | 55,618 | 63,587 | |
| Provisions | 17,193 | 41,665 | |
| Current tax liabilities (net) | 21,036 | 9,509 | |
| Total current liabilities | 10,66,514 | 11,38,463 | |
| TOTAL EQUITY AND LIABILITIES | 33,85,398 | 28,92,772 |
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

NOTES:
- 1 The financial results of the Group have been prepared i n accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013, read with the relevant rules issued thereunder.
- 2 The above consolidated financial results have been prepared i n accordance with principles and procedures as set out i n the Ind A S 110 on "Consolidated financial statements" and Ind A S 28 on "Investments i n Associates and Joint ventures" notified under Section 133 of Companies Act, 2013 and Companies (Indian Accounting Standards) Rules, 2015, as amended.
- 3 The above consolidated financial results as reviewed by the audit committee have been approved by the Board of Directors at its meeting held on 31 May 2021. The statutory auditors have carried out audit of the above results for quarter and year ended 31 March 2021. A n unmodified report has been issued by them thereon.
- 4 Profit before tax includes exceptional items of Rs. 69 lakhs for the quarter and Rs.281,458 lakhs for the year ended 31 March 2021 consists of: a. Rs. 309,665 lakhs gain on disposal of business assets of a wholly-owned step-down subsidiary, Natrol LLC, United States of America. Pursuant to the Board's approval on 25 October 2020, the Group entered into a definitive agreement to dispose of business assets of Natrol LLC, as a going concern with related assets, liabilities, products, brands and employees for a cash price of USD 550 million.
b. Rs. 15,285 lakhs gain on account of remeasurement of equity interest in Eugia Pharma Specialties Limited, a joint venture company as at 6 November 2020. The Board in its meeting held on 16 October 2020 decided to enter into a share purchase agreement to acquire 100% equity share capital of MViyes Pharma Ventures Private Limited. MViyes is holding 29.13% shareholding in Eugia Pharma Specialties Limited, a joint venture company in which the Parent Company, through its wholly-owned subsidiary company, is holding 70.87%. By this acquisition, both Eugia Pharma Specialties Limited and MViyes Pharma Ventures Private Limited have become wholly owned subsidiaries.
c. Rs. 43,492 lakhs impairment charges taken considering the difficult economic conditions and the continued impact of Covid 19 in certain markets towards product related intangibles and goodwill.
Tax expenses on the above exceptional item is Rs. 70,489 lakhs. Profit after tax excluding exceptional item (net of tax) for the quarter is Rs.80,128 lakhs and year ended 31 March 2021 is Rs. 322,414 lakhs.
- 5 The Group operates in only one segment viz., 'Pharmaceutical Products'.
- 6 During the quarter, the following companies have been incorporated: WYTELLS PHARMA PRIVATE LIMITED w.e.f 20 February 2021 as a subsidiary to Eugia Pharma Specialties Limited, India.
- 7 Foreign exchange gain includes exchange difference of Rs. Nil (31 March 2020: 14,537 Lakhs) arising from foreign currency borrowings to the extent that they are regarded as an adjustment to finance cost as per para 6(e) of Ind AS 23 on borrowing costs.
- 8 The Government of India, on 20 September 2019, vide the Taxation Laws (Amendment) Ordinance 2019, the Ordinance inserted a new Section 115BAA i n the Income tax Act, 1961, which provides an option to the Company for paying income tax at reduced rates as per the provisions/conditions defined i n the said section. The Parent Company has evaluated the above Ordinance and based on its evaluation currently the management proposed to continue with
- 9 The Group continues to monitor the possible effects that may result from the pandemic relating to COVID-19. The Group continues to take several business continuity measures with a view to ensure minimal disruption with respect to operations including production and distribution activities. While the Group has experienced certain challenges i n certain markets, where the impact of the pandemic i s prolonged and business environment i s impacted due to the uncertainty, the Group has not experienced any significant difficulties with respect to market demand, financing capital expansion projects, collections or liquidity i n other markets. Based on internal and external sources of information, current economic environment and future economic indicators, Group has assessed the financial impact of the COVID-19 situation on its operations particularly on the carrying amounts of receivables, inventories, property, plant and equipment, goodwill and other intangible assets. Wherever considered necessary an assessment of the impact has been carried out and the impact i f material on account of impairment have been recorded. However, the impact of the pandemic could be different from those estimated today considering the uncertainties involved. The Group will continue to monitor any material changes to future economic conditions.
- 10 The date of implementation of the Code of Wages 2019 and Code on Social Security, 2020 i s yet to be notified by the Government. The Group i s i n the process of assessing the impact of these Codes and will give effect in the financial results when the Rules/Schemes thereunder are notified.
- 11 The figures of the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between audited figures i n respect of the full financial year upto 31 March 2021 and 31 March 2020 respectively and the unaudited published year to date figures upto 31 December 2020 and 31 December 2019 respectively, being the date of the end of the third quarter of the financial year. The consolidated results for the nine months ended 31 December 2020 and 31 December 2019 have been subjected to the limited review by the statutory auditors.
By Order of the Board
N. Govindarajan
Place: Hyderabad Managing Director
Date :31 May 2021 www.aurobindo.com DIN-00050482
Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad – 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.