Pfizer Ltd. — Regulatory Filings 2021

Feb 5, 2021

Pfizer Limited

The Capital, 1802/1901, Plot No. C - 70, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051. Tel : +91 22 6693 2000 Fax : +91 22 2654 0274

February 5, 2021

The Corporate Relationship Dept. BSE Limited 1st Floor, P.J.Towers Dalal Street, Fort Mumbai - 400 001 Scrip Code: 500680

The Manager, Listing Dept. The National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051 Scrip Symbol: PFIZER

Dear Sirs,

Sub: Unaudited financial results for the quarter ended December 31, 2020.

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith the unaudited financial results for the quarter ended December 31, 2020, which were approved by the Board of Directors of the Company at its Meeting held today, that commenced at 2.30 p.m. and concluded at 4.00 p.m.

Also please find enclosed the Limited Review Report by our Auditors M/s. Walker Chandiok & Co LLP, in respect of the above results.

Please take the above on record.

Thanking you,

Yours truly,

For Pfizer Limited

Prajeet Nair Company Secretary

Walker Chandiok &.Co LLP

W.tlllts Chandiok & Co LLP L 41, Connatqit Circus, Outer Circle, New ()ejhi-110 001 lnlla

T +91 11 45002219 F +9111 42787071

Independent Auditor's Review Report on Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Pfizer Limited

• 1. We have reviewed the accompanying statement of unaudited financial results ('the Statement') of Pfizer Limited ('the Company') for the quarter ended 31 December 2020 and the year to date results for the period 1 April 2020 to 31 December 2020, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
• 1. The Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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Walker Chandiok & Co LLP

Pfizer Limited

Independent Auditor's Review Report on Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 76N/N500013

Ashish Gupta

Partner Membership No. 504662

UDIN: 21504662AAAAAS3382

Place: New Delhi Date: 5 February 2021

Pfizer Limited

The Capital, 1802/1901, Plot No. C - 70, G Block, Sandra Kurla Complex, Sandra (East), Mumbai 400 051. Tel: +91 22 6693 2000 Fax: +91 22 2654 0274

Statement of Unaudited Financial Results for the Quarter and Nine months ended 31 December, 2020

					(f In crore except earnings per share)
	3 months ended 31/12/2020	Preceding 3 months ended 30/09/2020	Corresponding 3 months ended in the previous year 31/12/2019	Year to date figures for nine months ended 31/12/2020	Year to date figures for nine months ended 31/12/2019	Previous year ended 31/03/2020
Particulars	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1 Income
(a) Revenue from operations	593.49	595.41	538.18	1,703.79	1,649.64	2,151.65
(b) Other income	14.57	12.15	58.22	43.92	138.80	184.02
Total income	608.06	607.56	596.40	1,747.71	1,788.44	2,335.67
2 Expenses
(a) Cost of materials consumed	91.04	83.03	104.84	247.37	254.99	345.21
(b) Purchases of stock-in-trade	183.42	100.12	103.93	405.50	285.53	483.81
(c) Changes in inventory of finished goods, work-in-progress and
stock-in-trade	(61.89)	28.66	(7.97)	(50.90)	60.73	(36.62)
{d) Employee benefits expense	94.12	86.21	89.98	266.23	263.86	364.51
{e) Finance costs	3.85	4.71	2.46	11.57	7.23	10.85
(f) Depreciation and amortization expense	27.23	27.73	24.70	82.10	74.83	103.24
(g) Other expenses	90.03	94.07	113.96	249.21	320.68	422.18
Total expenses	427.80	424.53	431.90	1,211.08	1,267.85	1,693.18
3 Profit before tax (1 - 2)	180.26	183.03	164.50	536.63	520.59	642.49
4 Tax expense
(a) Current tax	37.91	56.61	41.55	144.56	145.27	177.70
{b) Deferred tax	1.11	{4.95)	{16.11)	(4.99)	(30.80)	0.16
{c) Prior year tax reversal	-	-	-	-	-	(44.50)
5 Net profit for the period I year (3 - 4)	141.24	131.37	139.06	397.06	406.12	509.13
6 Other comprehensive income
(a) Items that will not be reclassified subsequently to profit or loss	(2.94)	(2.93)	(1.66)	(8.81)	(5.00)	(11.94)
(b) Income tax related to items that will not be reclassified to profit or loss	0.74	0.74	0.42	2.22	1.26	3.01
Other comprehensive income, net of taxes	(2.20)	(2.19)	(1.24)	(6.59)	(3.74)	(8.93)
7 Total comprehensive income for the period/ year (5 + 6)	139.04	129.18	137.82	390.47	402.38	500.20
8 Paid-up equity share capital (Face value per share ~10)	45.75	45.75	45.75	45.75	45.75	45.75
9 Other equity					- -	3,349.74
10 Earnings per share - Basic and Diluted (of 10/- each) (not annualised)
Computed on the basis of net profit for the period I year	30.87	28.71	30.40	86.79	88.77	111.28

CIN: L24231MH1950PLC008311 Email ID: contactus.india@pfizer.com Website: www.pfizerindia.com

NOTES:

• 1. The above results were reviewed and recommended by the Audit Committee, for approval by the Board, at its Meeting held on February 05, 2021 and were approved and taken on record at the Meeting of the Board of Directors of the Company held on that date.
• 1. The financial results of the Company have been prepared in accordance with Indian Accounting Standards ('Ind AS") prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular dated July 5, 2016.
• 1. The financial results for quarter and nine months ended December 31, 2020 have been subjected to limited review by the statutory auditors of the Company. The limited review report does not contain any modifications. The limited review report will be filed with the Stock Exchanges and will also be available on the Company's website - www.pfizerindia.com
• 1. The Company has only one segment which is 'Pharmaceuticals'. Therefore disclosure relating to segments is not applicable and accordingly not made.
• 1. Pfizer Inc and GSK Plc entered into an agreement in 2018 to merge their consumer healthcare businesses into a single joint venture to form GSK Consumer Healthcare (GSKCH). Subsequent to GSKCH's deliberations on the Pfizer Consumer Health (PCH) India business, Pfizer Limited has been requested to take appropriate steps to wind down the legacy PCH business in India. This includes 2 brands - Anacin and Anne French.

Consequently, the Company will be reimbursed actual wind down cost and also a compensation based on the fair value of PCH Products as determined by the independent valuers. The total revenue of the PCH Products for the year ended March 31, 2020 is Rs 26.3 crore.

For Pfizer Limited

S. Sridhar February 05, 2021 Managing Director