10th November, 2018

BSE Limited	National Stock Exchange of India Limited
P J Towers	Exchange Plaza
Dalai Street	Bandra-Kurla Complex, Bandra (E)
Mumbai - 400 001	Mumbai - 400 051
Scrip Code: 532300	NSE Symbol: WOCKPHARMA

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting

Pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') read with Schedule III of Listing Regulations, we wish to enclose herewith:

I. Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended 30th September, 2018, as approved by the Board of Directors at its meeting held today; and
II. Limited Review Report issued by Haribhakti & Co. LLP., Statutory Auditors of the Company for the quarter ended 30th September, 2018.

Also please find enclosed herewith copy of the Press Release proposed to be issued in respect of the said Financial Results; and extract of Unaudited Consolidated Financial Results for the quarter and half year ended 30th September, 2018, being published in the Newspapers.

Further, the Board of Directors in its today's meeting have also approved:

I. raising of funds through issuance of Non-Convertible Debentures/ Bonds (secured/ unsecured) on private placement basis up to an aggregate amount not exceeding Rs. 1,800 crore. The funds, as and when raised, would be within the approved limits of Shareholders obtained under Section 180(1 )(c) of the Companies Act, 2013; and
II. issuance of 4% Non-Convertible Non-Cumulative Redeemable Preference Shares ('N C C R P S') of Face Value of Rs. 5/- each on preferential basis to any one or combination of the following members of the promoter group namely (i) Humuza Consultants; (ii) Habil Khorakiwala Trust; and (iii) Khorakiwala Holdings and Investments Private Limited, at par, upto an amount not exceeding Rs. 500 crore. N C C R PS shall be unlisted and redeemable at par, in accordance with the provisions of the Companies Act, 2013, before completion of 24 months from the date of allotment. However, the Company will have the option to redeem the N C C R PS after expiry of six months from the date of allotment. The Board of Directors of the Company has recommended approval of the Shareholders for the same by way of Postal Ballot.

The Board Meeting commenced at 11.45 a.m. and concluded at 1.40 p.m.

Kindly take the same on your record.

Thanking you,

N Company Secretary Enel.: As above

W O C K H A R D T LIM IT E D • Global Headquarters: W ockhardt Towers, Bandra Kurla Com plex, M umbai 400051, India • T: 91-22-26534444 F: 91 -22-26523905* Regd. Office: D-4 MIDC, Chikalthana, Aurangabad-431006, India • T: 91 -240-6694444• F: 91-240-2489219 w w w.wockhardt.com *CIN: L24230M H1999PLC120720

			WOCKHARDT LIMITEDRegistered Office: D-4 Ml DC, Chikalthana, Aurangabad - 431 006
	Global Headquarters: Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
	Tel: 91 22 2653 4444 ; Fax: 91 22 2652 3905; e-mall id : [email protected]; Website: www.wockhardt.com		CIN:L24230MH1999PLC120720

						(Rs In Crore except per share data]
	STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30. 2018
	PARTICULARS	3 MONTHS	3 MONTHS	3 MONTHS	6 MONTHS	6 MONTHS	YEAR ENDED
		ENDED	ENDED	ENDED	ENDED	ENDED	31/03/2018
		30/09/2018	30/06/2018	30/09/2017	30/09/2018	30/09/2017
	(Refer notes below)	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited

1	(a) Revenue from operations	634.59	539.36	588.93	1,173.95	1,028.83	2,477.29
	(b) Other income	8.38	8.33	12.23	16.71	34.73	56.85
	Total income	642.97	547.69	601.16	1,190.66	1,063.56	2.534.14
2	Expenses
	(a) Cost of materials consumed	129.49	113.83	93.72	243.32	210.93	457 12
	(b) Purchase of stock-in-trade	110.43	128.83	101.31	239.26	172.98	391.15
	(c) Changes in inventories of finished goods, work-in-progress
	and stock-in-trade(d) Employee benefits expense	32.06	(20 65)	72.93	11.41	101.02	127.09
	(e) Finance costs	134 7943.41	136.6837.92	128.16	271.47	259 10	506.44
	(f) Depreciation and amortisation expense	28.64	27.48	43.5025.73	81.3356.12	86.42	169.58
	(g) Exchange fluctuation loss / (gain), net	(23.16)	(16,46)	1.68	(39.62)	52.274.72	106.245.51
	(h) Other expenses	178.73	156.94	137.94	335.67	304.39	667.09
	Total expenses	634.39	564.57	604.97	1,198.96	1,191.83	2,430.22
3	Profit / (Loss) before tax (1-2)	8.58	(16.88)	(3.81]	(8.30)	(128.27]	103.92
4	Tax expense:
	Current tax	_					21.89
	Deferred tax (creditVcharge	3.48	(1.77)	(29 13)	1,71	(52.01)	13.37
5	Net Profit / (Loss) after tax (3 ± 4)	5.10	(15.11)	25.32	(10.01)	(76.26]	68.66
6	Other Comprehensive Income
	a) Items that will not be reclassified to Profit or Loss -	(0.18)	0 35	(o.6o:	0.17	(1.20)	0.28
	(charge)/credit (consisting of re-measurement of net defined
	benefit (liabilily)/asset)
	b) Income tax relating to items that will not be reclassified to Profii	0.04	(0.07)	0.20	(0.03)	0,40	(0.29)
	or Loss - (charge)/credit
7	c) Other Comprehensive Income (net of tax) (6a ± 6b)Total Comprehensive Income (5 ± 6c)	t O J i4.96	0.28(14.83)	(0.40)124.92;	0.K(9.87)	(0.80)(77.06)	(0.01)
e	Paid-up equitv share capital (face value of Rs. 5/- each)	55.33	55.32	55.28	55.33	55,28	68,6555.32
9	Other Equity excluding Revaluation Reserves as per balance						1,239.37
	sheet
10	Earnings per share (face value of Rs. 5/- each) (*not annualised)
	(a) Basic (Rs.)	0,46*	(1.37)*	2.29*	(0.91)*	(6.90)*	6.21
	(b) Diluted (Rs.)	0,45*	L L 2 Z L	2.26*	(0.91)*	(6 90)*	6.14

Notes To Standalone Results

1. The results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on November 10, 2018 The results have been subjected to limited review by the Statutory auditors of the Company
Z) During the quarter, the Company has allotted 12,800 Equity shares of face value of Rs 5 each pursuant to exercise of employee stock options
1. Effective April 01, 2018, the Company has adopted Ind AS 115: "Revenue from Contracts with Customers" that has become mandatorily applicable for reporting periods beginning on or after April 01, 2018 replacing the existing revenue recognition standard In accordance with the first time adoption options available in the said standard, the Company has chosen the "cumulative effect method" and applied retrospectively only to contracts that are not completed as at the date of initial application (i.e. April 01, 2018), Accordingly, the comparatives have not been restated in line with the provisions of the standard The adoption of the standard did not have any material impact to the financial statements of the Company for the quarter and six months ended September 30, 2018
1. The Company is exclusively into Pharmaceutical business Segment.
1. Previous period / year figures have been recast / re-grouped to conform to the current period's presentation,

Mumbai Date : November 10, 2018

DIN 00045608

WOCKHARDT LIMITED

Registered Office: D-4 MIDC, Chikalthana, Aurangabad -431 006 Global Headquarters: Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400 051

STATEMENT OF STANDALONE ASSETS AND LIABILITIES

			(Rs. In Crore)
	PARTICULARS	As at Period End30/09/2018Unaudited	As at Year End31/03/2018Audited
A)	ASSETS
	Non- Current assets
	(a) Property, Plant and Equipment	1,407.59	1,394.74
	(b) Capital work-in-progress	613.68	653.34
	( c ) Intangible assets	26.86	27.99

	(d) Financial assets
	(i) Investments in subsidiaries	296.77	296.77
	(ii) Other Investments	0.45	0.45
	(iii) Other non- current Financial assets	74.08	74.43
	(e) Non-current tax assets (Net)	124.84	124.40
	(f) Deferred tax assets (Net)	42.64	44.35
	(g) Other non-cument assets	106.64	102.37
	Sub-total- Non-current assets	2,693.55	2,718.84
	Current assets
	(a) Inventories	380.64	377.07
	(b) Financial assets
		996.87	799.76
	(i) Trade receivables
	(ii) Cash and cash equivalents	94.55	67.83
	(iii) Bank balance (other than (ii) above)	54.16	184.90
	(iv) Other current Financial assets	16.57	5.95
	(c ) Other current assets	213.50	231.61
	Sub-total - Current assets	1,756.29	1,667.12
	TOTAL ASSETS	4 ,449.84	4 ,385.96
B)	EQUITY AND LIABILITIES

	Equity
	(a) Equity share capital	55.33	55.32
	(b) Other Equity	1,200.55	1,239.37
	Sub-total- Equity	1,255.88	1,294.69

	Liabilities
	Non- Current liabilities
	(a) Financial liabilities
	Borrowings	682.62	758.39
	(b) Provisions	56.08	53.12
	(c) Other non-current liabilities	505.71	490.73

	Sub-total- Non-current liabilities	1,244.41	1,302.24
	Current liabilities
	(a) Financial liabilities
	(i) Borrowings	578.08	437.09
	(ii) Trade payables	446.97	445.79
	(iii) Other financial liabilities	744.98	715.13
	(b) Other current liabilities	85.26	99.21
	(c) Provisions	44.09	41.64
	(d) Current tax liabilities (Net)	50.17	50.17
	Sub-total- Current liabilities	1,949.55	1,789.03
	TOTAL EQUITY AND LIABILITIES	4 ,4 49.84	4 ,385.96

		FOR W OCKHARDT LIMITED	_v

		^H F KHORAKIWALA
Mumbai
	Date : November 10, 2018	CHAIRMANDIN: 00045608

WOCKHARDT LIMITED
-------------------	--

Registered Office: D-4 MIDC, Chlkalthana, Aurangabad - 431 006

Global Headquarters: Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 CIN: L24230MH1999PLC120720

Tel: 91 22 2653 4444; Fax: 91 22 2652 3905; e-mail Id: Investorrelalions^wockhardt com, Website: www.wockhardl.com

	S T A T E M E N T O F C O N S O L ID A T E D U N A U D IT E D R E S U L T S F O R T H E Q U A R T E R A N D S I X M O N T H S E N D E D S E P T E M B E R 3 0, 2 01 8						(R a. In Croi'o except per sh are data)
	P A R T I C U L A R S	3 M O N T H SE N D E D30/09/2018	3 M O N T H SE N D E D30/06/2018	3 M O N T H SE N D E D30/09/2017	6 M O N T H SE N D E D30/09/2018	6 M O N T H SE N D E D30/09/2017	Y E A RE N D E D3 1/03/2018
	(Refer N otes Below )	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	a) Revenue from operations	1,125.68	1,007.71	1,022.28	2,133.39	1,913.34	3,936.90
	b) O ther income	6.09	7.43	S4.55	13.52	91.57	120.23
	T o t a l In c o m e	1 ,1 3 1 .7 7	1 ,0 1 5 .1 4	1 ,0 7 6 .8 3	2 ,1 4 6 .9 1	2 ,0 0 4 .9 1	4 ,0 5 7 .1 3
2	E x p e n s e s
	(a) Cost o f m aterials consum ed	247.68	211.44	187.46	459.12	408.01	867.53
	(b) Purchase o f stock-in-trade	235.02	273.49	186.72	508.51	3 3 6 .8 6	751.47
	(c) Changes In Inventories o f finished goods, w ork-in-progress and stock
	In-trade	6.09	(5 6 .5 3 )	97.56	(50.44)	140.00	178.53
	(d) Em ployee benefits expense	255.55	243.73	249.25	499.28	487.69	937.06
	(e) Finance costs	65.10	72.65	67.60	137.75	128.71	255.49
	(f) Depreciation and am ortisation expense	40.20	39.17	36.19	79.37	73.37	149.53
	(g) Exchange fluctuation loss / (gain), net	(15.331	24.29	(12.86)	8.96	(32.13)	(57.26)
	(h) O ther expenses	329.25	306.84	292.84	636.09	611.67	1,257.74
	T o t a l e x p e n s e s	1 ,1 6 3 .5 6	1 ,1 1 5 .0 8	1 ,1 0 4 .7 6	2 ,2 7 8 .6 4	2 ,1 5 4 .1 8	4 .3 4 0 .0 9
3	P rofit / (Loss) b efo re e xcep tio n al (lo in s a n d ta x (1-2)	131.79)	(99.94)	122-93)	(131.73)	(149.27)	(282.96)
4	Exeopttarta! Item s loss / (gain) (R efer N ote 4)		*	-	-	358.19	358.19
5	P ro fit / (lo ss) b efo re ta x (3 i4 )	131.79)	(99.94]	(27.93)	(131.73)	(507.46)	(641.15)
6	T ax expense:
	Cu rren t tax	3.96	0.37	14.01	4.33	15.94	50.79
	Deferred tax (credit) / chargeP r o fit / (Lo ss) a ft e r t a x (5 ± 6 )	(4.91)(30.841	(5.25)	(33.12)	(10.16)	(52.01)	(25.09)
7	Share o f Profit / (Loss) o f Associate	•	(9 5 .0 6 )-	(8 .8 2 )	(1 2 5 .9 0 )	(4 7 1 .3 9 )	(6 6 6 .8 5 )-
89	N on - C ontrolling Interest	(8 07)	(8.88)	(5.49)	(16.95)	(58.40)	158.55)
10	N e t P ro fit / (L o s s ) a f t e r ta x e s , n o n - c o n t ro llin g In te re s t a n d s h a re o f
		(22.771	(8 6 .1 8 )	(3 .3 3 )	(1 0 8 .9 5 )	(4 1 2 .9 9 )	(6 0 8 .3 0 )
11	O ther Com prehensive Incom e
	a) Item s th at w ill not be reclassified to Profit o r Loss - (charge) / credit	11.53	8.45	21.09	19.98	25.50
	(consisting o f re-m easurem ent o f net defined benefit (liability) / asset)						32.16
	b) Incom e tax relating to Items th at will not be reclassified to Profit o r	(1.91)	(1.49)	(1.97)	(3.40)	(2.27)	(9.10)
	L o s s -(c h a rg e )/ c re d it
	c ) Item s th at will be reclassified to Profit or Loss - (charge) / credit	97.01	21.20	41.18	118.21	77.91	116.30
	(Consisting o f Exchange d ifferences on tran slatin g th e financial
	statem en ts o f foreign operations)
	d) O ther Com prehensive Incom e (n et o f tax) (11a ± l i b ± 11c)	106.63	28.16	60 30	134.79	101.14	139.36
12	T o t a l C o m p re h e n s iv e In c o m e (7 ± 8 ± 11 (d ))	7 5 .7 9	(6 6 .9 0 )	5 1 .4 8	8 .8 9	(3 7 0 .2 5 )	(5 2 7 .4 9 )
	A ttributable to Equity shareh old ers o f the Com pany	68.77	(61.98)	48.18	6.79	(326.48)	(491.28)
	A ttributable to N on C o n tro lling Interest	7.02	(4.92]	3.30	2.10	(43.77)	(3 6 2 1 )
13	Paid-up equity share capital (face valu e o f Rs. 5 /- each!	55.33	55.32	5 5 2 8	55.33	55.28	55.32
14	O ther Equity excluding Revaluation Reserves a s per balance sheet						2.796.83
15	Earnings Per Share (face value o f Rs. 5/- e ach) (' not annualised]
	(a) Basic (Rs.)	(2.06)*	(7.79)*	(0.30)*	(9.85)*	(37.36)*	(55.01)
	(b) Diluted (Rs.)	(2.06)*	(7.79)*	(0.30)*	(9.85)*	(37.36)*	(55.01)

MfltoffiJft CQfttoljdataiLBfiaalfei

1| The results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on November 10, 201B. The results have been subjected to limited review by the Statutory Auditors of the Company.

21 The Consolidated Results relate to Wockhardt Limited ('the Holding Company') and Its Subsidiaries (together constitute 'the Group') and are prepared by applying Ind AS 110 - "Consolidated Financial Statements".

3] During the quarter, the Company has alloted 12,800 Equity shares of face value of Rs, 5 each pursuant to exercise of employee stock options

Exceptional item: During the previous year, the on-going commercial litigation between the Company and two of its subsidiaries namely Wockhardt UK Holdings Limited and CP Pharmaceuticals Limited (CP) in relation to a supply contract with Cephalon Inc, (Cephalon) an affiliate oFTeva Pharmaceuticals USA, Inc. (Teva) before the High Court in London, United Kingdom, was settled at cost of GBP 43 million to the Group.

The High Court has accepted the settlement between the parties and a Consent Order was issued on June 21,2017. Pursuant to this settlement the ongoing litigation stands closed.

5) Kay Financials an Standalone basis:

Particulars	3 MONTHSENDED30/09/2018	3 MONTHSENDED30/06/2018	3 MONTHSENDED30/09/2017	6 MONTHSENDED30/09/2018	6 MONTHSENDED30/09/2017	(Kb. In Croee]YEARENDED31/03/2018
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue From operations	63459	539.36	588.93	1,173.95	1,028 83	2.477 29
Profit / (Loss) Before Tax	858	(16,88]	(3.81)	(8.30)	(12827)	103.92
Profit / (Loss) After Tax	b.10	(15 11)	25.32	(10.01)	(76.26)	66.66

Note: The Unaudited standalone results have been filed with the Stock Exchanges under Regulation 33 of SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 and ara available on the Stock Exchanges websites (www.nseindia.com and www.bseindia.com ) and also on the Company's website www.wockhardt.com.

Effective April 01, 2018, the Group has adopted Ind AS 115: "Revenue from Contracts with Customers" that has become mandatorily applicable for reporting periods beginning on or after April 01, 2018 replacing the existing revenue recognition standard. In accordance with the first time adoption options available in the said standard, the Group has chosen the "cumulative effect method" and applied retrospectively only to contracts that are not completed as at the date of Initial application (l.e, April 01, 2018). Accordingly, the comparatives have not been restated in line with the provisions of the standard. The adoption of the standard did not have any material impact to the financial statements of the Group for the quarter and six months ended September 30, 2018.

7| The Group is exclusively into Pharmaceutical business Segment.

For List of Subsidiaries as on September 30,2018 please refer Annexure

W Previous periods/year figures have been recast/re-grouped to conform to the current period's presentation

Mumbai Date : November 10, 2018

W OCKHARDT LIMITED

Registered Office: D-4 MIDC, Chikalthana, Aurangabad - 431 006

Global Headquarters: Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400 051

STATEMENT OF CONSOLIDATED ASSETS AND LIABILITIES

			(Rs. in Crore)
PARTICULARS		30/09/2018	A s at Y e a r En d31/03/2018
		Unaudited	Audited


(a) Property, Plant and Equipment		1,948.51	1,947.92
(b) Capital work-in-progress			1,039.13
			840.58
			99.46

			393.44

			0.45
			48.23
			131.80
			183.56
		103.58	97.87
		5,040.36	4,782.44


			855.71

		25.43	213.25
(ii) Trade receivables		1,310.88	962.45
(iii) Cash and cash equivalents		587.92	897.24
		56.11	185.01
(v) Other current Financial assets			8.31
(c) Other current assets		269.73	257.63
			3,379.60

			8,162.04
EQUITY AND LIABILITIES


			55.32
		2,743.44	2,796.83
		2,798.77	2,852.15
(c) Non - Controlling Interest		347.83	345.73
	Sub-total- Equity	3,146.60	3,197.88



			2,173.11

			64.89
			34.45
			2,272.45


			437.09
(ii) Trade payables		688.97	601.78
(iii) Other financial liabilities		1,610.87	1,487.14
(b) Other current liabilities		46.02	60.99
(c) Provisions		46.75	44.58
(d) Current tax liabilities (Net)			60.13
		3,029.98	2,691.71

			8,162.04
			A







	A S S E T S1 Non- Current assets(c) Goodwill(d) Other Intangible assets(e) Intangible assets under development(f) Financial assets(i) Non-current investments(ii) Other non- current Financial assets(g) Non-current tax assets (Net)(h) Deferred tax assets (Net)(i) Other non-current assets2 Current assets(a) Inventories(b) Financial assets(i) Investments1 Equity(a) Equity share capital(b) Other Equity2 Liabilities1. Non- Current liabilities(a) Financial liabilitiesBorrowings(b) Provisions(c) Deferred tax liabilities (Net)II. Current liabilities(a) Financial liabilities(i) Borrowingsu if) 1'VMumbaiDate : November 10. 2018	Sub-total - Non-current assets(iv) Bank balance [other than (iii) above]Sub-total - Current assetsTOTAL ASSETSEquity attributable to the share holders of the CompanySub-total- Non-current liabilitiesSub-total- Current liabilitiesTOTAL EQUITY AND LIABILITIES	A s at Period En d1,134.55882.58105.75499.320.4536.06130.07199.49928.0121.933,200.018,240.3755.331,961.2369.0833.482,063.79578.0859.298,240.37FOR WOCKHARDT LIMITEDH F KHORAKIWALACHAIRMANDIN: 00045608

WOCKHARDT LIMITED

Registered Office: D-4 MIDC, Chikalthana, Aurangabad - 431006 Global Headquarters: Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400051

Annexure to Note 8 of Consolidated Unaudited Results for the Quarter and Six Months ended September 30, 2018

List of Subsidiaries as on September 30, 2018

1 Wockhardt UK Holdings Limited (formerly Wockhardt UK Limited)
2 CP Pharmaceuticals Limited
3 CP Pharma (Schweiz) AG
4 Wallis Group Limited
5 The Wallis Laboratory Limited
6 Wockhardt Farmaceutica Do Brasil Ltda
7 Wallis Licensing Limited
8 Wockhardt Infrastructure Development Limited
9 Z 8t Z Services (formerly Esparma GmbH)
10 Wockhardt Europe Limited
11 Wockhardt Nigeria Limited
12 Wockhardt USA LLC (formerly Wockhardt USA Inc.)
13 Wockhardt UK Limited
14 Wockpharma Ireland Limited
15 Plnewood Laboratories Limited
16 Pinewood Healthcare Limited
17 Laboratolres Negma S.A.S. (formerly Negma Lerads S.A.S.)
18 Wockhardt France (Holdings) S.A.S.
19 Wockhardt Holding Corp
20 Morton Grove Pharmaceuticals Inc.
21 MGPInc.
22 Laboratoires Pharma 2000 S.A.S. (formerly Pharma 2000 S.A.S.)
23 Nlverpharma S.A.S.
24 Negma Beneulex S.A.
25 Phytex S.A.S.
26 Wockhardt Farmaceutica SA DE CV
27 Wockhardt Services SA DE CV
28 Wockhardt Bio AG (formerly Wockhardt EU Operations (Swiss) AG)
29 Wockhardt Bio (R) LLC
30 Wockhardt Bio Pty Limited
31 Wockhardt Bio Limited

Limited Review Report on the Unaudited Standalone Financial Results for the quarter ended September 30, 2018 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors Wockhardt Limited

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Wockhardt Limited ('the Company') for the quarter ended September 30, 2018 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" as prescribed under Section 133 of Companies Act, 2013 ("the Act") read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
1. We conducted our review in accordance with the Standard on Review Engagement (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 is limited primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Haribhakti ft Co. LLP, Chartered Accountants Regn. No. AAC-3768, a limited liability partnership registered in India ( converted on 17th June, 2014 from firm Haribhakti & Co. FRN: 103523W) Registered Office: 705, Leela Business Park, Andheri-Kurla Road, Andheri (E), Mumbai - 400 059, India. Tel:+91 22 6672 9999 Fax:+91 22 6672.9777 Other offices: Ahmedabad, Bengaluru, chennai, Coimbatore, Hyderabad, Kolkata, New Delhi, Pune.

HARIBHAKTI & CO. LLP Chartered Accountants

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 aforesaid accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Haribhakti & Co. LLP Chartered Accountants

Place: Mumbai Date: November 10, 2018

HARIBHAKTI & CO. LLP Chartered Accountants

Limited Review Report on the Unaudited Consolidated Financial Results for the quarter ended September 30, 2018 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors Wockhardt Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Wockhardt Limited ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group') for the quarter ended September 30, 2018 ("the Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. This Statement which is the responsibility of the Holding Company's management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" as prescribed under Section 133 of Companies Act, 2013 ("the Act") read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
1. We conducted our review in accordance with the Standard on Review Engagement (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 is limited primarily to inquiries of Holding Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Haribhakti & Co. LLP, Chartered Accountants Regn. No. AAC-3768, a limited liability partnership registered in india ( converted on 17th June, 2014 from firm Haribhakti & Co. FRN: 103523W) Registered Office: 705, Leela Business Park, Andheri-Kurta Road, Andheri (E), Mumbai - 400 059, India. Tel:+91 22 6672 9999 Fax:+91 22 6672 9777 Other offices: Ahmedabad, Bengaluru, chennai, Coimbatore, Hyderabad, Kolkata, New Delhi, Pune.

HARIBHAKTI & CO. LLP

Chartered Accountants

1. Based on our review conducted as above, and based on consideration of Interim Financial Information furnished to us by the management referred to in paragraph 4 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with aforesaid accounting standards and other recognized accounting practices and policies have not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.
1. We did not review the financial results of Eleven (11) subsidiaries included in the Statement, whose financial results reflects total assets of Rs. 75.33 Crores as at September 30, 2018, total revenue of Rs. 10.50 Crores and total loss after tax of Rs. 10.21 Crores for the quarter ended September 30, 2018, as considered in the Statement. These financial results are not reviewed by their auditors and have been furnished to us by the Management and our reporting on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on such un-reviewed financial results. According to the information and explanations given to us by the Management, these financial results are not material to the Group. Our review report on the Statement is not modified in respect of our reliance on the financial information certified by the Management.

For Haribhakti 8t Co. LLP Chartered Accountants

Place: Mumbai Date: November 10, 2018

PRESSRELEASE %VOCKHARDT ! wms

Mumbai, 10th November, 2018

Wockhardt Q2FY19 Net Sales at Rs. 1,125 crore, up by 10% over Q2FY18

	Q2-FY19	Q1-FY19	Q2-FY18	H I FY19	H IFY 18	FY18
	Ju l-Sep	Apr-Jun	Jul - Sep	Apr - Sep	Apr - Sep	Apr - Mar
	2018	2018	2017	2018	2017	2018
	INRCr	INRCr	INRCr	INRCr	INRCr	INRCr
Sales	1,125	1,008	1,022	2,133	1,913	3,937
EBITDA before R&D	134	90	85	224	78	232
EBITDA % to Sales	11.9%	8.9%	8.3 %	10.5%	4.1%	5.9%
R&D	82	61	77	143	149	287
R&D % to Sales	7.3 %	6.1%	7.5%	6.7%	7.8 %	7.3%
EBITDA	52	29	8	81	(71)	(55)
EBITDA M argins %	4.6%	2.9%	0.8 %	3.8 %	-3.7%	-1.4%
PBT before exceptional item	(32)	(100)	(28)	(132)	(149)	(283)
Exceptional item*	-	-	-	-	(358)	(358)
PBT after exceptional item	(32)	(100)	(28)	(132)	(507)	(641)
Profit After Tax	(23)	(86)	(3)	(109)	(413)	(608)
PAT M argins %	-2.0%	-8.5%	-0.3%	-5.1%	-21.6%	-15.4%
EPS (Rs)	(2.1)	(7.8)	(0.3)	(9.9)	(37.4)	(55.0)

* Exceptional Item:

During the previous year, the on-going commercial litigation between the Company and two of its subsidiaries namely Wockhardt UK Holdings Limited and CP Pharmaceuticals Limited (CP) in relation to a supply contract with Cephalon Inc. (Cephalon) and affiliate of leva Pharmaceuticals USA Inc. (Teva) before the High Court in London, United Kingdom, was settled at cost of GBP 43 million to the Group.

W ockhardt Limited, the Pharmaceutical and Biotechnology major, reported its 2nd Quarter and Half Year Results for Financial Year 2018-19, today.

Business review for the 2nd quarter and half year ended 30th September, 2018:

The business performance of the Company during the quarter ended 30th Septem ber, 2018 showed marked improvement with Sales growth of 12% quarter on quarter and 10% over same period of previous year driven by growth in US and Emerging Markets.

The increase in revenue coupled with Company's ongoing focus on cost optimisation resulted in an improved EBITDA from Rs.8 crore in Q2FY18 to Rs.52 crore during the current quarter. Costs of on-going remedial measures, however, continued to impact profitability.

The focus in strategic R&D initiatives of the Company in the global arena continued to remain one of the key priorities. Such strategic R&D expenses though meant for the future are expensed off.

India Business:

India Business stood at Rs.455 crore in Q2FY19 vs Rs.452 crore in Q2FY18. Two products were launched during the quarter. India Business contributed 40% of the Global Revenue.

US Business :

US Business grew by 18% in Q2FY19 over Q2FY18 in INR terms mainly on account of New Products launches and increased market share of some of the products of the Company. US Business contributed 17% of the Global Revenue.

Emerging Market Business of the Company witnessed strong growth of 68% in Q2FY19 over Q2FY18 and contributed about Rs.144 crore. (about 13% of the Global Revenue)

EU Business :

UK Business during the quarter de-grew by 1% in INR terms over Q2FY18. The Company launched 1 new product during the quarter and successfully filed 1 new product. UK Business contributed about 22% of Global Revenue.

Irish Business grew 11% in INR terms in Q2FY19 vs Q2FY18.

Total EU Business contributed 30% of the Global Revenue and grew by 4% in INR terms over Q2FY18.

Research & Development expenditure during the quarter was at Rs.82 crore (7% to sales) and including capital expenditure is at 12% to sales.

Capital expenditure during the quarter was Rs.87 crore.

Half year ended 30th September, 2018

India Business:

India Business grew by 13% in H1FY19 over H1FY18 and stood at Rs.850 crore in H1FY19 vs Rs.755 crore in H1FY18. Six products were launched during H I FY19. India Business contributed 40% of the Global Revenue.

US Business :

US Business grew by 19% in H1FY19 over H1FY18 in INR terms mainly on account of New Products launches and increased market share of some of the products of the Company. US Business contributed 17% of the Global Revenue.

Emerging Market Business of the Company grew by 52% in H1FY19 over H1FY18 and stood at Rs.263 crore vs Rs.174 crore.

EU Business:

UK Business de-grew by 4% in INR terms over H1FY18. The Company launched two new products, received 1 new approval and successfully filed 2 new products during H I FY19.

Irish Business grew by 18% in INR terms in H1FY19 vs H1FY18.

Total EU Business contributed 31% of the Global Revenue and de-grew by 3% in INR terms over H1FY18.

Research & Development expenditure during H I FY19 was at Rs.143 crore (7% to sales) and including capital expenditure is at 10% to sales.

Capital expenditure during H I FY19 was Rs.160 crore.

Intellectual Property (IP ):

The company's continued pursuit in creating strong Intellectual Property (IP) base resulted into filing of 47 patents during the Quarter ended 30th September, 2018 taking the cumulative filings to 3,103. The company was granted 29 patents during the quarter and now holds 672 patents.

Wockhardt Limited | D-4, MIDC.Chikalthana | I Aurangabad | | www.wockhardt.com

About W ockhardt:

Wockhardt is a Global Pharmaceutical and Biotech company employing over 9,000 people and 27 nationalities with presence in USA, UK, Ireland, Switzerland, France, Mexico, Russia and many other countries. It has manufacturing and research facilities in India, USA & UK and a manufacturing facility in Ireland. Wockhardt has a significant presence in USA, Europe and India, with 60% of its global revenues coming from international businesses. Wockhardt is home to 600 plus scientists, of whom, 70 plus are doctorates. Wockhardt is the only company in the world where USFDA has given QIDP Status (Qualified Infectious Diseases Programme) for 5 of our Anti bacterial discovery programmes - 2 of them are Gram Negative and 3 Gram Positive effective against untreatable "Superbugs". Wockhardt's entire Antiinfective portfolio particularly addresses the specific bacterial organism where resistances are high and breakthrough antibiotics are needed.

W OCKHARDT LIMITED

Registered Office: D-4 MIDC, Chikalthana, Aurangabad - 431 006 Global Headquarters: Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 CIN:L24230MH1999PLC120720

T el: 91 2 2 2 6 5 3 4444; Fax: 91 22 2 6 5 2 3905; e-m ail id: investorrelations@ w ockhardt,com p W ebsite: w w w.wockhardt com

Extract of Unaudited Consolidated Financial Results

For the Quarter and Six Months ended September 30, 2018

^____________ ___________Rs. in Crore (except per share data)
	3 MONTHS	3 MONTHS	3 MONTHS	6 MONTHS	6 MONTHS	YEAR
	ENDED	ENDED	ENDED	ENDED	ENDED	ENDED
Particulars	30/09/2018	30/06/2018	30/09/2017	30/09/2018	30/09/2017	31/03/2018
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Total Income from Operations	1,125.68	1,007.71	1,022.28	2,133.39	1,913.34	3,936.90
Net Profit / (Loss) (before tax, Exceptional and / orExtraordinary items)	(31.79)	(99.94)	(27.93)	(131.73)	(149.27)	(282.96)
Net Profit / (Loss) before tax (after Exceptional and/orExtraordinary items)	(31.79)	(99.94)	(27.93)	(131.73)	(507.46)	(641.15)
Net Profit / (Loss) after tax and non-controlling Interest(after Exceptional and/or Extraordinary Items)	(22.77)	(86.18)	(3.33)	(108.95)	(412.99)	(608.30)
Total Comprehensive Income / (Loss)(Comprising of Profit / (Loss) after tax andOther Comprehensive Income after tax)	75.79	(66.90)	51.48	8.89	(370.25)	(527.49)
Paid-up Equity Share Capital (Face value of Rs. 5/- each)Other Equity excluding Revaluation Reserves as shown inthe audited Balance Sheet	55.33	55.32	55.28	55.33	55.28	55.322,796.83
Earnings per share (Face value of Rs 5/- each)* Not annualised
Basic Rs.	(2.06)*	(7.79)*	(0.30)*	(9.85)*	(37.36)*	(55.01)
Diluted Rs.	(2.06)*	(7.79)*	(0.301*	(9.85)*	(37.36)*	(55.01)

The results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on November 10, 2018. The results have been subjected to limited review by the Statutory Auditors of the Company.

2. Information on Standalone financial Results are as follows:

Particulars	3 MONTHS	3 MONTHS	3 MONTHS	6 MONTHS	6 MONTHS	YEAR
	ENDED	ENDED	ENDED	ENDED	ENDED	ENDED
	30/09/2010	30/06/2018	30/09/2017	30/09/2018	30/09/2017	31/03/2018
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Total Income from Operations	634.59	539.36	588.93	1,173.95	1,028.83	2,477.29
Profit / (Loss) Before Tax	8.58	(16.88)	(3.81)	(8.30)	(128.27)	103.92
Profit / (Loss) After Tax	5.10	(15.11)	25.32	(10.01)	(76.26)	68.66

The above is an extract of the detailed format of the Standalone and Consolidated Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the Standalone and Consolidated Financial Results are available on the websites of the Stock Exchanges (www.bseindia.com and www.nseindia.com) and on the Company's website (www.wockhardt.com).

For WOCKHARDT LIMITED HORAKIWALA CHAIRMAN

DIN : 00045608

Mumbai Date : November 10, 2018

AI assistant

Wockhardt Ltd Interim / Quarterly Report 2019

59231_rns_2018-11-10_ad7fe197-b58e-4219-a5e4-b5ec3f681f86.pdf