Sun Pharmaceutical Industries Ltd. — Interim / Quarterly Report 2022

Jul 30, 2021

Sun House, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai - 400 063, Maharashtra, India. Tel. : (91-22) 4324 4324 Fax.: (91-22) 4324 4343 Website : www.sunpharma.com CIN : L24230GJ1993PLC019050

July 30, 2021

National Stock Exchange of India Limited, Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Sandra Kurla Complex, Sandra (East), Mumbai - 400 051 Scrip Symbol - SUNPHARMA

BSE Limited, Market Operations Dept. P. J. Towers, Dalal Street, Mumbai - 400 001. Scrip Code- 524715

Dear Sir I Madam,

Sub: Approval of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2021

The Board of Directors of the Company at its meeting held today i.e. July 30, 2021 has inter alia considered and approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2021 .

Pursuant to Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we enclose herewith the following as "Annexure":

• a) Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter ended June 30, 2021.
• b) Limited Review Report of the Statutory Auditors of the Company on Unaudited (Standalone and Consolidated) Financial Results for the quarter ended June 30, 2021.

The meeting of the Board of Directors of the Company commenced at 10.15 a.m. and concluded at 1:45 p.m.

Thanking you,

Yours faithfully, For Sun Pharmaceutical Industries Limited

Al-C?L--

Ashok I. Bhuta Sr. GM - Secretarial & Compliance Officer

Encl: As above

29 Senapati Bapat Marg Tel : +91 22 6819 8000

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

Review Report to The Board of Directors Sun Pharmaceutical Industries Limited

• 1 . We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Sun Pharmaceutical Industries Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), and its share of the net loss after tax and other comprehensive loss of its associates and joint venture for the quarter ended June 30, 2021 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the " Listing Regulations").
• 1. This Statement. which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors. has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (lnd AS 34) "Interim Financial Reporting" prescribed under Section 133 of t he Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 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 Standards on Auditing 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.

We also performed procedures in accordance with the Circular No. CIR/ CFO/ CMD1 I 44/ 2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

• 1. The Statement includes the unaudited consolidated financial results of the entities mentioned in Annexure I to the Statement.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('lnd AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Sun Pharmaceutical Industries Limited Independent Auditor's Review Report Page 2 of 4

1. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of 22 subsidiaries including 2 associates and a joint venture, whose unaudited interim financial results, without giving effect to elimination of intra-group transactions, reflect for subsidiaries; Group's share of total revenues of INR 37,008.5 Million, and for subsidiaries, associate and joint venture; Group's share of total net loss after tax of INR 4,551.8 Million, Group's share of total comprehensive loss of INR 4,947.7 Million, for the quarter ended June 30, 2021, as considered in the Statement which have been reviewed by their respective independent auditors. The independent auditor's reports on interim financial information of these entities have been furnished to us by management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries, joint venture and associate is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement in respect of matters stated in para above is not modified with respect to our reliance on the work done and the reports of the other auditors.

For S R B C & CO LLP

per Paul Alvar Partner Membership No.: 105754

Mumbai July 30, 2021

Sun Pharmaceutical Industries Limited Independent Auditor's Review Report Page 3 of 4

Annexure I - List of entities included in the report on the unaudited Consolidated Financial Results

Sr.No	Name of the entity
	Subsidiaries:
1	Sun Pharma France (formerly known as Ranbaxy Pharmacie Generiques)
2	Zenotech Laboratories Limited (consolidated)
3	Ranbaxy (U.K.) Limited
Ranbaxy Holdings (U.K.) Limited4
Ranbaxy Ireland Limited (liquidated w.e.f. 9 June 2021 ).5
6	Basics GmbH
Sun Pharma Laboratories S.L.U (formerly known as Laboratories Ranbaxy, S.L.U.)7Sun Pharma ltalia SRL (formerly known as Ranbaxy ltalia Spa)8
		9	Sun Pharma (Netherlands) B.V.
10	Ranbaxy (Poland) SP. Z 0.0.
11	AO Ranbaxy
12	"Ranbaxy Pharmaceuticals Ukraine" LLC
13	Terapia SA
14	Ranbaxy South Africa (Pty) Ltd (consolidated)
15	Ranbaxy Nigeria Limited
16	Ranbaxy Pharmaceuticals (Pty) Ltd
17	Sun Pharmaceuticals Morocco LLC
18	Sun Pharma Egypt Limited LLC
19	Rexcel Egypt LLC
20	Ranbaxy (Malaysia) SDN. BHD.
21	Sun Pharma ANZ Pty Ltd
22	Sun Pharmaceuticals Holdings USA, Inc. (consolidated)
23	Ranbaxy Farmaceutica Ltd a.
24	Sun Pharmaceutical Peru S.A.C.
25	Sun Pharma Canada Inc.
26	Ranbaxy (Thailand) Co., Ltd.
27	J SC Biosintez
28	Faststone Mercantile Company Private Limited
29	Green Eco Development Centre Limited
30	Neetnav Real Estate Private Limited
31	Realstone Multitrade Private Limited
32	Skisen Labs Private Limited
33	Softdeal Pharmaceuticals Private Limited (formerly known as Softdeal Trading CompanyPrivate Limited)
34	Universal Enterprises Private Limited
Sun Pharmaceutical (Bangladesh) Limited35
36	Sun Pharmaceuticals Germany GmbH
37	Sun Pharma Switzerland Ltd.

8 * • I ~ t.fUMBAI :! ~ ~ ~~ .. ~~ .~Eo .tcc>J

Sun Pharmaceutical Industries Limited Independent Auditor's Review Report Page 4 of 4

Sr.No	Name of the entity
38	Sun Pharmaceutical Industries (Europe) B.V.
39	000 "Sun Pharmaceutical Industries" Limited
40	Alkaloida Chemical Company Zrt.
41	Sun Pharmaceuticals SA (Pty) Ltd
42	Sun Pharma Holdings
43	Aditya Acquisition Company Ltd.
44	Taro Pharmaceutical Industries Ltd (TARO) (consolidated)
45	Sun Pharma Global FZE
46	Sun Laboratories FZE
47	Sun Pharma East Africa Limited
48	Sun Pharma Philippines, Inc.
49	Sun Pharma Japan Ltd. (consolidated)
50	Sun Pharmaceutical Industries (Australia) Pty Limited
51	Sun Farmaceutica do Brasil Ltda.
52	Sun Pharmaceutical Industries S.A.C.
53	SPILDe Mexico S.A. DE C.V. (liquidated w.e.f. 07 June 2021)
54	Sun Pharma De Mexico S.A. DE C.V.
55	Sun Pharma De Venezuela, C.A.
56	Sun Pharma Laboratories Limited
57	Sun Pharmaceutical Medicare Limited
58	Caraco Pharmaceuticals Private Limited
59	Sun Pharma Distributors Limited
60	Realstone Infra Limited
61	Sun Pharma Shanghai Limited
62	Sun Pharmaceuticals EZ Limited
	Joint Venture:
1	Artes Biotechnology GmbH
	Associates:
1	Medinstill LLC (Consolidated)
2	Generic Solar Power LLP
3	Trumpcard Advisors and Finvest LLP
4	Tarsier Pharma Limited (formerly known as Tarsius Pharma Ltd.)
5	WRS Bioproducts Pty Limited

Sun Pharmaceutical Industries limited

Registered Office: Sun Pharrna Advanced Research Centre, Tandalja, Vadodara- 390012. Corporate Office: Sun House, CTS No. 201 611. Western Express Highway, Goregaon (E). Mumbai - 400063 Tel.: +91 22 4324 4324. CIN: L24230GJ1993PLC019050, Website : www.sunpharrna.com

Statement of Unaudited Consolidated Financial Results for the Quarter ended June 30, 2021

					(~In Million)
		Quarter ended			Year ended
	Particulars	30.06.202 1	31 .03.2021	30.06.2020	31 .03.2021
		Unaudited	Audited	Unaudited	Audited
I	Revenue from operations
	a. Revenue from contracts with customers	96,694.3	84,637.4	74,858.2	332,330.8
	b. Other operating revenues	493.1	592.4	994.3	2,650.6
	Total revenue from operations (I)	97,187.4	85,229.8	75,852.5	334,981.4
II	Other income	1,525.2	1,110.0	1,537.9	8,355.2
Ill	Total income (1+11)	98,712.6	86,339.8	77,390.4	343,336.6
IV	Expenses
	Cost of materials consumed	15,621.0	17,468.1	15,188.4	61,531.3
	Purchases of stock-in-trade	9,631 .4	7,418.2	6,833.2	31,751.7
	Changes in inventories or finished goods, stock-in-trade and work-in-progress	1,241.9	(2,478.7)	(2.325.6)	(6,382.2)
	Employee benefits expense	17,587.4	16,774.5	17,590.4	68,622.3
	Finance costs	350.9	301 .0	519.5	1,414.3
	Depreciation and amortisation expense	5,032.2	5,534.9	4.959.2	20,799.5
	Other expenses	25,693.7	25,455.5	20,922.6	94.781.1
	Net (gain) I loss on foreign currency transactions	(798.8)	107.8	(791.6)	(236.5)
	Total expenses (IV)	74,359.7	70,581.3	62,896.1	272,281.5
v	Profit I (loss) before exceptional items and tax (III-IV)	24,352.9	15,758.5	14,494.3	71,055.1
VI	Exceptional items (Refer Note 4)	6,310.7	6,728.1	36,333.3	43,061.4
VII	Profit I (loss) before tax (V-VI)	18,042.2	9,030.4	(21,839.0)	27,993.7
VIII	(i) Tax expensel(credit) for period I year	3,955.7	1,762.7	2.459.1	9,242.0
	(ii) Tax expense7(credit)- Exceptional (Refer Nofe 4 and 8)	-	(1',212.3)	-	. (4,095.1)
IX	Profit I (loss) for the period before share of profit I (loss) of associates and	14,086.5	8,480.0	(24,298.1)	22,846.8
	joint venture (VII-VIII)
X	Share of profit I (loss) of associates and joint venture (net)	(46.1)	(55.9)	35.8	(123.3)
XI	Net Profit I (loss) after taxes and share of profit I (loss) of associates and	14,040.4	8,424.1	(24,262.3)	22,723.5
	joint venture but before non-controlling interests (IX+X)
	Non-controlling interests	(401 .3)	(517.4)	(7.706.3)	(6,314.7)
XII	Net Profit I {loss) after taxes, share of profit I {loss) of associates and joint	14,441.7	8,941.5	(16,556.0)	29,038.2
	venture and non-controlling interests
XIIII	nther r.ornprehensive income (OCI)
	A. (i) ~rns that will not be recl;;··,sified to profit or loss	(935.7)	2,158.4	ol.O	3,23:3.9
	(ii) Income tax relating to items the;: will not be reclassified to profit or loss	(7.5)	{:56 7)	{11 .0)	(145.4)
	B. (i) Items that may be reclassified to profit or loss	5,467.0	(1,160.1)	3,892.1	(4,031.6)
	(ii) Income tax relating to items that may be reclassified to profit or loss	125.6	45.3	(231 .6)	(517.2)
	Total other comprehensive income (A+B) {XIII)	4,649.4	886.9	3,710.5	(1,460.3)
XIV	Total comprehensive income for the period (XI+ XIII)	18,689.8	9,311.0	(20,551.8)	21,263.2
	Attributable to:
	- Owners of the Company	18,599.2	9,925.5	{13, 198.4)	28,133.4
	- Non-controlling interests	90.6	(614.5)	(7,353.4)	(6,870.2)
XV	Paid-up equity share capital - race value t' 1 each	2,399.3	2,399.3
XVI	Other equity			2,399.3	2,399.3
					462,228.5
	XVII Earnings per equity share of~ 1 each (not annualised for quarters)
	~(Basic)	6.0	3.7	(6.9)	12.1
	~(Diluted)	6.0	3.7	(6.9)	12.1
	See accompanying notes to the unaudited consolidated financial results
	Research and development expenses incurred (included above)
		5,748.1	5,386.5	4,151.9	21,028.2

Sun Pharmaceutical Industries Limited

Registered Office: Sun Pharma Advanced Research Centre, Tandalja, Vadodara • 390012. Corporate Office: Sun House, CTS No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai • 400063 Tel.: +91 22 43 24 4324. CIN: L24230GJ1993PLC019050, Website : www.sunpharma.com

Notes:
	These unaudited consolidated financial results relate to Sun Pharmaceutical Industries Limited (the 'Company'), its Subsidiaries (together the 'Group'), JointVenture and Associates and are prepared by applying lnd AS 110 ·"Consolidated Financial Statements", and lnd AS 28 • "Investments in Associates andJoint Ventures"
2	The above unaudited consolidated financial results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors attheir respective meetings held on July 30. 2021.
3	The above unaudited consolidated financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lndAS) as amended, prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder.
4	Exceptional items includes the following :a) On July 23, 2020, Taro Pharmaceuticals U.S.A., Inc. ("Taro"), our subsidiary, globally resolved all matters in connection with them ulti-year investigationsby the Department of Justice, Antitrust Division and Civil Division ("DOJ") into the United States generic pharmaceutical industry. Under a DeferredProsecution Agreement reached with DOJ Antitrust, the DOJ filed an Information for conduct that took place between 2013 and 2015 . If Taro adheres to theterms of the agreement, including the payment of$ 205.7 Million (equivalent to~ 15,601.8 Million), the DOJ will dismiss the Information at the end of a threeyear period. Taro has also reached a framework understanding with DOJ Civil, subject to final agreement and agency authorisation, in which Taro hasagreed to pay$ 213.3 Million (equivalent to~ 16,179.6 Million) to resolve all claims related to federal healthcare programs. Accordingl y, an amount of $418.9 Million (equivalent to ~ 31,781.4 Million) was provided in the quarter ended June 30, 2020. Further, in respect of ongoing multi-jurisdiction civilantitrust matters, currently in progress. Taro, has made a provision of$ 200 million (equivalent to~ 14,809.4 Million). Of the$ 200 Million (equivalent to~14,809.4 Million), amounts of S 60 Million and $ 80 Million (equivalent to~ 4,551 .9 Million and ~ 5,832.5 Million ) were accounted for in quarter ended June30, 2020 and March 31, 2021 respectively . Further, an additional provision of$ 60 million (equivalent to~ 4,425.0 Million) has been recognised in thecurrent quarter ended June 30 , 2021.Exceptional tax for the quarter and year ended March 31 , 2021, is on account of recognition of deferred tax asset amounting to ~ 1,212.3 Million arising outabove settlement.b) On March 25, 2021 the CJEU (Court of Justice to the European Union) issued a final judgment and upheld the European Commission's ("EC") decisiondated June 19, 2013 that a settlement agreement between Ranbaxy (U .K.) Limited and Ranbaxy Laboratories Limited (together "Ranbaxy") with Lundbeckwas anti-competitive. Ranbaxy had made a provisional payment of the fine of Euros 10.3 Million on September 20, 2013. Since there were no further rightsof appeal, this amount of ~ 895.6 Million (inclusive of legal charges) was debited to the audited consolidated statement of profit and loss for the quarter andyear ended March 31, 2021 .
	c) Result for the quarter ended June 30, 2021 include charges of~ 1,503.3 Million towards impairment of an acquired intangible asset under developmentand~ 382.4 Million on account of write down of assets which have been classified as held for sale as per requirements of IND AS 105.
5	The Board of Directors of the Company at its meeting held on July 31, 2020, approved the Scheme of Amalgamation and Merger (the scheme) of SunPharma Global FZE, a wholly owned subsidiary of the Company, (Transferor Company) with Sun Pharmaceutical Industries Limited (Transferee Company),and their respective members and creditors which inter-alia, envisages merger of Transferor Company into the Company with an appointed date of January01, 2020 or such subsequent date (if any) as may be decided by the Board of Directors as applicable, of the Transferor Company and the Board ofDirectors of the Transferee Company or such date as may be approved by the National Company Law Tribunal at Ahmedabad or such other appropriatedate as the Appropriate Authority may decide. The approvals to the scheme have been received from the shareholders, the only secured creditor andunsecured creditors of the Company .The Company has filed the requisite petition with the National Company Law Tribunal seeking its approval. Thescheme shall be effective post completion of all necessary formalities and procedures, accordingly, the above unaudited consolidated financial results donot reflect the impact on account of the scheme.
6.	The Group continue-s to monitor the impact of Covid-19 on its business, Including its impact on cuslomers. supply-chain, employees and logistics. Due carejhas been exercised, •n :o!'lcluding on significant accounting judgements ar.r1 estimates, including in relation to recoverability of receivables, assessment L•!impairment of goodwill and intangibles, investments and inventory, based on the information available to date, while preparing the unaudited consolidatedfinancial results for the quarter ended June 30, 2021.
7	The Group has only one reportable segment namely 'Pharmaceuticals'.
8	Tax gain (exceptional) for the year ended March 31, 2021 is on account of creation of deferred tax asset amounting to~ 2,882.8 Million arising out ofsubsequent measurement attributable to restructuring of an acquired entity.
9	The date of implementation of the Code on Wages 2019 and the Code on Social Security, 2020 is yet to be notified by the Government. The Group willassess the impact of these Codes and give effect in the unaudited consolidated financial results when the Rules/Schemes thereunder are notified.
10	The figures for the quarter ended March 31,2021 represent the derived figures between the audited figures in respect of the full financial year endedMarch 31, 2021 and the unaudited published year-to-date figures up to December 31 , 2020, being the date of the end of third quarter of the financialyear, which were subjected to a limited review by the statutory auditor of the Company.
11	Figures for previous periods have been regrouped I reclassified wherever considered necessary.
	-SIGNED FOR IDENTIFttATION~o~~ For and on behalf of the BoardBY( lf:~~ _L<br>L.rp,S R B C & CO LLP·~ ,

S R B C & CO LLP MUMBAI

!S'~~lS~ Dilip S. Shanghvi

~ Managing Director

Mumbai, July 30, 2021

S R 8 C & CO LLP Chartered Accountants

12\h Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel : +9 1 22 6819 8000

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

Review Report to The Board of Directors Sun Pharmaceutical Industries Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Sun Pharmaceutical Industries Limited (the "Company") for the quarter ended June 30. 2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This 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, (lnd AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 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 Standards on Auditing 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.
• 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 the aforesaid Indian Accounting Standards ('lnd AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S R B C & CO LLP

Mumbai July 30. 2021

Sun Pharmaceutical Industries Umlted Registered Office: Sun Phanna Advanced Research Centre, Tandalja, Vadodara- 390012. Corporate Office: Sun House, CTS No. 201 811 , Westem Express Highway, Goregaon (E), Mumbai • 400063 Tel.: +91 22 4324 4324. CIN: L24230GJ1993PLC019050, Website : IWIW.sunpharma.com

Statement of Unaudited Standalone Financial Results for the Quarter ended June 30, 2021

			Quarter ended
Particulars			31.03.2021	30.06.2020	Year ended31.03.2021
		30.06.2021Unaud~ed	Au ~ed	aud~ed	Audited
I	Revenue from operations
	a. Revenue from cxmtracts with rustomers	33,125.4	31,419.0	29,010.4	126,755.6
	b. Other operating revenues	134.1	177.4	620.0	1 ,276,5
	Total revenue from operations (I)	33,259.5	31,596.4	29,630.4	128,032.1
II	Other income	578.0	348.7	211 .9	1 ,502.2
Ill	Total Income (1+11)	33,837.5	31,945.1	29,842.3	129,534.3
	IV Expenses
	Cost of materials consumed	9,939.5	11,241.6	8,494.2	38,091.1
	Purchases of slock~n-lrade	3,823.4	3,685.6	2,578.2	11 ,996.3
	Changes in inventories of finished goods, stock-in-trade and work-in-progress	(824.6)	(2,702.6)	(552.9)	(2,148.4)
	Employee benefits expense	4,899.9	4,246.2	4,661.9	17,984.5
	Fonance costs	1,057.2	1,027.3	689.0	2,569.8
	Oepreclatlon and amortisation expense	1,509.2	1,517.6	1,427.9	5 ,868.1
	Other expenses	10,519.6	8,282.3	7,790.2	32,599.8
	Nel (gain) /loss on foreign currency transactions	(1,413.2)	40.8	(561.4)	148.8
	Total expenses (IV)	29,511.0	27,338.8	24,527.1	107,110.0
v	Profit before excepUonalltem and tax (III-lVI	4,326.5	4,606.3	5,315.2	22,424.3
VI	Exceptional item (Refer Nola 4)		895.6		895.6
	VII Profit before tax (V-VI)	4,326.5	3,710.7	5,315.2	21,528.7
	VIII Tax expense I (cred~)	133.5	436.8	(4.3)	131.7
IX	Profit for the period (VII-VIII)	4,193.0	3,273.9	5,319.5	21 ,397.0
X	other comprehensive income (OCI)
	a. (I) Items that will no! be reclassified to profit or loss	(4.1)	111.0	(198.1)	(103.0)
	(o) Income tax relating to Items !hat will not be reclassified to profit or loss	1.4	(38.8)	69.2	36.0
	b. OJ Items that may be reclassified to profit or loss	(362.0)	(11.2)	210.5	1 ,076.0
	(ii) Income lax relating to items that may be reclassified to profit or loss	126.5	3.9	(73.5)	(376.0)
	Total other comprehensive Income (a+ b) (X)	(238.2)	64.9	8,1	633.0
XI	Total comprehensive Income for the pertod IIX+Xl	3,964.8	3.338.8	6,327.6	22.030.0
	XII Paid-up equity share capital -faceue~ 1 each	2,399.3	2,399.3	2,399.3	2,399.3
	XIII Other equity				248,002.3
	XIV Earnings per equity share of~ 1 each (not annuallsed for quarters)
	t(Basic)	1.75	1.36	2.22	8.92
	~(Oiluted)	1.75	1.36	2.22	8.92
	See accompanying notes to the unaudiled standalone financial resulls
	Research and development expenses Incurred (included above)	3,307.0	2,962.2	1,867.2	10,611.9

Notes:

1 The above unaudited standalone financial results or the Company have been reviewed by the Audit Committee and approved by the Board of Oireclors at !heir respective meetings held on July 30, 2021.

2 The above unaudited standalone financial results have been prepared In accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS) as amended, prescribed under Section 133 of lhe Companies Act, 2013, read with relevant rules issued thereunder.

• 3 The Board of Oirectors of the Company a! ils meeting held on July 31, 2020, approved the Scheme of Amalgamation and Merger (the scheme) of Sun Pharma Global FZE, a wholly owned subsidiary of the Company, (Transferor Company) with Sun Pharmaceutical Industries im~ed (Transferee Company), and !heir respective members and creditors which inter-alia, envisages merger of Transferor Company into the Company with an appointed dale of January 01, 2020 or such subsequent date (~any) as may be decided by lhe Board of Oirectcrs as appficable, of !he Transferor Company and the Board of Directors ollhe Transferee Company or such dale as may be approved by the National Company Law Tribunal at Ahmedabad or such other appropriate dale as the Appropriate Authority may decide. The approvals to !he scheme have been received from the shareholders, the only secured creditor and unsecured creditors of the Company .The Company has filed the requisite petition with the National Company Law Tribunal seeking ~ approval. The scheme shall be effective post completion of all necessary formalities and procedures. accordingly, the above unaudited standalone financial results do not renectthe impact on account of the scheme.
• 4 On March 25, 2021 the CJEU (Court of Justice to the European Union) Issued a final judgment and upheld !he European Commission's ("EC") decision dated June 19, 2013 lha! a settlement agreement between Ranbaxy (U.K.) Limited and Ranbaxy Laboratories Limited (together "Ranbaxy'1 with Lundbeek was anticompetitive. Ranbaxy had made a provisional payment of the fine of Euros 10.3 Million on September 20, 2013. Since there were no further rights of appeal, this amount of~ 895.6 Million (inclusive or legal charges) was debiled to the audited standalone financial results for the quarter and year ended March 31, 2021 .
• s The Company continues to monitor the Impact of Covid-19 on Its business. including its impact on customers, supply-chain, employees and logistics. Due care has been exercised, in concluding on signifiCant accounting judgements and estimates, including In relation to recoverabilily of receivables, assessment of impalnnent of goodwill and Intangibles, investments and inventory, based on the information available to date, while preparing lhe Company's unaudited standalone financial results lor lhe quarter ended June 30, 2021 .

6 The date of Implementation of the Code on Wages 2019 and the Code on Social Security, 2020 is yet to be notified by the Government The Company will assess the impact of these Codes and give effect in lhe unaudited standalone financial results when the Rules/Schemes thereunder are notified.

7 The Company has only one reportable segment namely 'Pharmaceuticals'.

8 The figures lor the quarter ended March 31, 2021 represent the derived figures between the aud~ed fogures in respect of the lull financial year ended March 31 , 2021 and the unaudiled published year-Io-date fogures up lo December 31 , 2020, being the dale of the end of third quarter oflhe financial year, which were subjecled to a lim lied review by the statutory auditor of lhe Company.

9 Figures for previous periods have been regrouped I reclassified wherever considered necessary.

	SlGr.U, f&R IDENTifiC-.TtON~LIY
Murnbal Julv 30 2021

For and on behalf of the Board
Dilip S. ShanghviManaging Director