Based on the actuarial valuation obtained in this respect, the following table sets out the status of the provident fund
`plan and the amounts recognised in the Company's financial statements as at the balance sheet date:
`
`Sr.
`
`Particulars
`
`No.
`
`I)
`
`Reconciliation in present value of obligations (’PVO’) — defined
`benefit obligation:
`Current service cost
`Past service cost
`Interest cost
`
`Actuarial loss / (gain)
`Benefi s paid
`PVO a the beginning of the year
`PVO a the end of the year
`II) Change in fair value of plan assets:
`Expected return on plan assets
`Adjustment to opening balance
`Ac uar'al gain/(loss)
`Contributions by the employer
`Benefits paid
`Fai va ue of plan assets at the beginning of the year
`Fai va ue of plan assets at the end of the year
`III) Reconciliation of PVO and fair value of plan assets:
`PVO a end of the year
`Fai Value of plan assets at the end of the year
`Funded status
`
`Un ecognised actuarial gain/(loss)
`Ne liability recognised in the balance sheet (Refer note 7)
`IV) Net cost for the year:
`Cu rent service cost
`Past service cost
`Interest cost
`
`Expected return on plan assets
`Actuarial losses/(gain)
`Interest expense pertaining to the Trust
`Net expense recognised in the Statement of Profit and Loss
`(Refer note 26)
`
`V) Category of assets as at the end of the year:
`Investment in PSU bonds
`Investment in Government Securities
`
`Bank Special Deposit
`Investment in other securities
`
`Bank Savings Deposit
`VI) Actual return on the plan assets:
`VII) Assumptions used in accounting for the provident fund plan:
`Discount rate (%)
`
`Salary escalation rate (%)
`Expected rate of return on plan assets (%)
`
`Provident Fund
`
`(Funded)
`As on 31.03.2015 As on 31.03.2014
`? in million
`? in million
`
`1068.4
`—
`0.8
`
`(9.8)
`(286.2)
`3388.9
`4162.1
`
`329.7
`(3.5)
`—
`742.2
`(286.2)
`3379.9
`4162.1
`
`4162.1
`4162.1
`—
`
`—
`—
`
`1068.4
`—
`0.8
`
`(329.7)
`(6.3)
`(742.2)
`(9.0)
`
`21%
`45%
`
`6%
`26%
`
`2%
`329.7
`
`7.8
`
`6.0
`8.8
`
`885.6
`—
`1.6
`
`(12.5)
`(224.9)
`2739.1
`3388.9
`
`243.2
`—
`—
`642.4
`(224.9)
`2719.2
`3379.9
`
`3388.9
`3379.9
`(9.0)
`
`—
`(9.0)
`
`885.6
`—
`1.6
`
`(243.2)
`(12.5)
`(642.4)
`(10.9)
`
`22%
`44%
`
`6%
`26%
`
`2%
`243.2
`
`9.2
`
`6.0
`8.8
`
`Annual Report 2015 | 199
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`|PR2015-01030
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`(Page 200 of 212)
`
`

`
`42.
`
`(i) The Company has ente ed into foreign currency forward and futures contracts which are not intended for trading or
`speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the
`settlement date of certa'n payables. The following are the outstanding foreign currency forward contracts entered into by
`the Company:
`
`Currency
`
`USD
`
`Amount
`As on 31.03.2015
`As on 31.03.2014
`
`Buy or Sell
`
`Cross Currency
`
`—
`
`10149602
`
`Buy
`
`INR
`
`(ii) The year—end foreign cur ency exposures that have not been hedged by a derivative instrument or othenNise are given below:
`
`a. Amount receivable "n oreign currency on account of the fol owing:
`Particulars
`Foreign Currency
`As on 31.03.2015
`? in million
`Amount in
`
`As on 31.03.2014
`? in million
`Amount in
`
`Foreign Currency
`
`Foreign Currency
`
`Export of goods
`
`Other receivables
`
`AU)
`ACLD
`EURO
`GB3
`JPY
`RU3
`US)
`CA)
`
`AU)
`CA)
`EURO
`GB3
`JPY
`UZS
`USD
`RUB
`KZT
`RMB
`UAH
`
`56.3
`16.7
`431.2
`236.1
`13.8
`? 2126
`21456.0
`2.4
`
`5.4
`0.6
`17.0
`48.4
`—
`0.1
`250.4
`0.7
`1.0
`5.5
`3.4
`
`1183378
`267382
`6416978
`2552836
`26408907
`1961
`343295972
`49500
`
`113274
`12121
`253026
`523094
`—
`2251420
`4006643
`611994
`2826041
`542456
`1248759
`
`125.3
`9.1
`660.6
`420.1
`20.7
`—
`24545.7
`—
`
`—
`—
`7.1
`—
`7.9
`0.1
`759.8
`0.1
`1.9
`3.4
`0.1
`
`2259636
`152575
`8025239
`4216617
`35384214
`—
`409675022
`—
`
`—
`—
`86818
`—
`13495560
`2973852
`12680846
`47325
`5710111
`348403
`25879
`
`b. Amount payable in fo eign currency on account of the following:
`Particulars
`Foreign Currency
`As on 31.03.2015
`? in million
`Amount in
`
`As on 31.03.2014
`? in million
`Amount in
`
`Foreign Currency
`
`Foreign Currency
`
`Import of goods and services
`
`Other payables
`
`200 | Lupin Limited
`
`US)
`GB3
`ELRO
`A-)
`J3Y
`CAD
`C F
`SE
`
`US)
`RJ3
`KZ"
`P-l3
`ACLD
`UA-l
`
`2749.6
`79.0
`131.6
`6.7
`12.4
`? 10586
`1.4
`—
`
`260.3
`1.0
`0.2
`27.1
`0.8
`2.8
`
`43992914
`854469
`1958653
`141185
`23736269
`216
`21414
`—
`
`4165159
`903873
`451218
`19403305
`12354
`1040844
`
`1515.5
`47.4
`95.0
`2.7
`7.7
`35.8
`1.2
`0.2
`
`282.4
`0.5
`0.4
`—
`0.9
`2.7
`
`25294703
`475248
`1154647
`47940
`13227862
`658358
`17808
`22593
`
`4713239
`297112
`1120778
`—
`15187
`489197
`
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`|PR2015-01030
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`
`

`
`Particulars
`
`Foreign Currency
`
`As on 31.03.2015
`? in million
`Amount in
`
`As on 31 .03.2014
`? in million
`Amount in
`
`EURO
`GBP
`AUD
`AED
`JPY
`BRL
`RMB
`UZS
`
`65.0
`5.7
`—
`—
`? 24484
`—
`—
`—
`
`Foreign Currency
`967963
`61500
`—
`—
`46972
`—
`—
`—
`
`45.0
`—
`1.0
`0.3
`0.3
`0.5
`? 10224
`0.1
`
`Foreign Currency
`546687
`—
`17525
`18594
`500000
`18684
`1060
`4809250
`
`43. Details of Derivative Contracts:
`
`The Company enters into derivative contracts in order to hedge and manage its foreign currency exposures towards future
`export earnings. Such derivative contracts are entered into by the Company for hedging purposes only, and are accordingly
`classified as cash flow hedges.
`
`The category wise break—up of outstanding derivative contracts entered into by the Company is as under:
`
`(Amount in million)
`
`Particulars
`Forward Exchange Contracts
`Option Contracts
`
`Currency
`USD
`USD
`
`As at 31 .03.201 5
`333.0
`—
`
`As at 31 .03.2014
`129.0
`0.8
`
`Cross Currency
`INR
`INR
`
`The changes in the fair value of the derivative contracts during the year ended March 31, 2015 aggregating ? 92.6 million
`(previous year ? 265.5 million) designated and effective as hedges have been credited to the Cash Flow Hedge Reserve and
`? 42.6 million (previous year ? 36.8 million) is credited to the Statement of Profit and Loss, being the ineffective portion thereof.
`
`44. The aggregate amount of revenue expenditure incurred during the year on Research and Development and shown in the
`respective heads of account is ? 8455.9 million (previous year ? 8112.0 million).
`
`45. The aggregate amount of expenditure incurred during the year on Corporate Social Responsibility and shown in the respective
`heads of account is ? 125.8 million.
`
`Particulars
`
`Donations (Refer note 28)
`
`Employee Benefits Expense (Refer note 26)
`
`2014-2015
`? in million
`
`119.8
`
`6.0
`125.8
`
`Total
`
`46. The information regarding Micro Enterprises and Small Enterprises has been determined to the extent such parties have been
`'dentified on the basis of information available with the Company. This has been relied upon by the auditors.
`Dar iculars
`As at
`31.03.2015
`? in million
`
`As at
`31.03.2014
`? in million
`
`3rincipal amount remaining unpaid to any supplier as at the end of the
`accounting year
`"i. nterest due thereon remaining unpaid to any supplier as at the end of the
`accounting year
`"ii. The amount of interest paid along with the amounts of the payment made to
`he supplier beyond the appointed day
`"v. ”he amount of interest due and payable for the year
`v. ”he amount of interest accrued and remaining unpaid at the end of the
`accounting year
`vi. ”he amount of further interest due and payable even in the succeeding year,
`until such date when the interest dues as above are actually paid
`
`387.3
`
`285.2
`
`—
`
`—
`
`—
`—
`
`—
`
`—
`
`—
`
`—
`—
`
`—
`
`Annual Report 2015 | 201
`
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`|PR2015-01030
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`(Page 202 of 212)
`
`

`
`47. As per best estimate of the management, provision has been made towards probable non—saleable return of goods from
`customers, as per Accounting Standard 29 (AS—29).
`Particulars
`
`2014-2015
`? in million
`
`2013-2014
`? in million
`
`Carrying amount at the beginning of the year
`Add : Additional Provisions made during the year
`Less : Amounts used / utilised during the year
`Carrying amount at the end of the year
`
`48. Details of purchases, sale of goods and inventories:
`A) Details of purchases of stock—in—trade:
`Classification
`
`a) Formulations:
`Tablets
`
`Liquids
`Capsules
`Injections:
`— Liquids
`— Vials
`Creams and Powder
`Inhalers
`
`b) Others
`
`Purchases of formulations include samples.
`
`B) Details of sale of goods:
`Classification
`
`a) Formulations:
`Tablets
`
`Liquids
`Capsules
`Injections:
`— Liquids
`—Vials
`Creams and Powder
`Inhalers
`
`b) Bulk Drugs, Intermediates and Chemicals
`c) Others
`
`102.5
`741.5
`732.4
`111.6
`
`78.0
`697.5
`673.0
`102.5
`
`Year ended
`31.03.2015
`? in million
`
`31.03.2014
`? in million
`
`3687.1
`
`852.8
`907.9
`
`109.0
`3378.0
`194.5
`2.9
`
`292.8
`9425.0
`
`3206.0
`
`842.1
`851.2
`
`114.3
`2877.6
`184.1
`2.7
`
`213.9
`8291.9
`
`Year ended
`31.03.2015
`? in million
`
`31.03.2014
`? in mill'on
`
`48191.6
`
`7477.7
`17586.4
`
`321.3
`5299.3
`674.7
`624.7
`
`11566.9
`1541.8
`93284.4
`
`44999.9
`
`8421.3
`14671.6
`
`327.5
`489 .7
`583.9
`509.6
`
`11601.0
`258.3
`86273.8
`
`Total
`
`Total
`
`Above excludes items distributed under free schemes and samples and the value is net of trade discounts.
`
`202 | Lupin Limited
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`|PR2015-01030
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`

`
`C) Details of inventories (finished goods including stock—in—trade):
`Classification
`
`a) Formulations:
`Tablets
`
`Liquids
`Capsules
`Injections:
`— Liquids
`— Vials
`Creams and Powder
`Inhalers
`
`b) Bulk Drugs, Intermediates and Chemicals
`c) Others
`
`D) Details of work—in—process:
`
`a) Formulations
`b) Bulk Drugs, Intermediates and Chemicals
`
`E) Consumption of raw materials:
`Item
`
`a) DL2 (RECEMIC)
`b) PEN G
`c) Others*
`
`As at
`31.03.2015
`? in million
`
`31.03.2014
`? in million
`
`2419.3
`
`287.7
`603.6
`
`53.6
`875.0
`97.3
`70.4
`
`1761.6
`99.1
`6267.6
`
`655.3
`3016.8
`3672.1
`
`1900.1
`
`390.1
`481.1
`
`41.1
`796.5
`94.7
`70.8
`
`1294.0
`32.3
`5100.7
`
`624.3
`2506.7
`3131.0
`
`Year ended
`31.03.2015
`
`31.03.2014
`
`1110.3
`2576.9
`15929.6
`19616.8
`
`954.2
`2377.5
`15395.5
`18727.2
`
`Total
`
`Total
`
`Total
`
`* containing various raw materials, none of which represents more than 5% of total consumption of raw materials.
`
`49. Related Party Disclosures, as required by Accounting Standard 18 (AS-18) are given below :
`A. Relationships-
`Categoryl : Subsidiaries:
`_upin Pharmaceuticals, Inc., USA
`yowa Pharmaceutical Industry Co., Limited, Japan
`_upin Australia Pty Limited, Australia
`_upin Holdings B.V., Netherlands
`Pharma Dynamics (Proprietary) Limited, South Africa
`-Iormosan Pharma GmbH, Germany
`ulticare Pharmaceuticals Philippines Inc., Philippines
`_upin Atlantis Holdings SA, Switzerland
`_upin (Eu ope) Limited, UK
`_upin Pharma Canada Limited, Canada
`_upin
`exico S.A. de C.V., Mexico
`C-ienerc I-ealth Pty Limited, Australia
`3ellwether Pharma Pty Limited, Australia
`ax Pharha Pty Limited, Australia (upto 17 December 2014)
`_upin Phi ippines Inc., Philippines
`_upin -Iealthcare Limited, India
`C-ienerc I-ealth SDN. BHD., Malaysia
`yowa Cr'tiCare Co., Limited, Japan (formerly I’rom Pharmaceutical Co., Limited)
`_upin
`iddle East FZ—LLC, UAE
`_upin C-imbH, Switzerland (from 15 August 2013)
`_upin nc., USA (from 27 June 2013)
`_upin Zarmaceutica do Brasil LTDA, Brazil (formerly Farma World Importacao e Exportacao
`De Medicamentos LTDA — EPP, Brazil (from 17 December 2013))
`anomi B.V., Netherlands (from 30 January 2014)
`_aboratorios Grin S.A. de C.V., Mexico (from 30 September 2014)
`
`Annual Report 2015 | 203
`
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`|PR2015-01030
`
`(Page 204 of 212)
`
`

`
`Category II:
`Jointly Controlled Entity:
`YL Biologics Ltd., Japan (from 23 April 2014)
`
`Category III: Key Management Personnel (KMP)
`Dr. D. B. Gupta
`Chairman
`Dr. Kamal K. Sharma
`Vice Chairman
`
`s. Vinita Gupta
`r. Nilesh Gupta
`rs. M. D. Gupta
`
`Chief Executive Officer
`Managing Director
`Executive Director
`
`Category IV: Others (Relatives of KMP and Entities in which the
`KMP and Relatives of KMP have control or significant influence)
`Dr. Anuja Gupta (Daughter of Chairman)
`rs. Kavita Sabharwal (Daughter of Chairman)
`Dr. Richa Gupta (Daughter of Chairman)
`rs. Pushpa Khandelwal (Sister of Chairman)
`rs. Shefali Nath (Wife of Managing Director)
`s. Veda Nilesh Gupta (Daughter of Managing Director)
`Bharat Steel Fabrica ion and Engineering Works
`D. B. Gupta (HUF)
`_upin
`uman Welfa e and Research Foundation
`_upin nternational Pvt. Limited
`_upin nvestments Pvt. Limited
`_upin
`oldings Pvt. _imited
`atashree Gomati Devi Jana Seva Nidhi
`ovamed Investments Pvt. Limited
`
`Dolynova Industries _imited
`Qahas Investments Pvt. Limited
`
`Synchem Investmen s Pvt. Limited
`Visiomed Investmen s Pvt. Limited
`
`Zyma Laboratories Lmited
`Concept Pharmaceu icals Limited
`Shuban Prints
`
`B. Transactions with the related parties:
`
`Sr. Transactions
`No.
`
`Sale of Goods
`
`.
`Sale — Research Services—IP
`
`Sale — Research Services—Others
`
`a
`
`on rac
`)C t
`
`tR&DS
`
`ervices
`.
`
`b)_|_
`
`ec noo
`h
`l
`
`9”
`
`icense ees
`L.
`F
`
`Income from Royalty
`
`uaran ee ommission ncome
`t
`C
`.
`.
`l
`
`G
`
`Subsidiaries
`/Jointly
`Controlled
`
`Entity
`46154.9
`
`(45966.2)
`1003.2
`
`(638.5)
`
`-
`
`664.1
`(226.0)
`
`46.8
`(—)
`
`9'4
`(64.2)
`
`3.1
`(5.0)
`
`—
`(—)
`
`54.6
`(35.1)
`
`(?in million)
`
`Others
`
`Total
`
`Key
`Management
`Personnel
`
`—
`
`(—)
`—
`
`(—)
`
`—
`(—)
`
`—
`(—)
`
`_
`(—)
`
`—
`(—)
`
`—
`(—)
`
`—
`(—)
`
`—
`
`(—)
`—
`
`(—)
`
`—
`(—)
`
`—
`(—)
`
`_
`(—)
`
`—
`(—)
`
`84.8
`(90.9)
`
`2.7
`(3.0)
`
`46154.9
`
`(45966.2)
`1003.2
`
`(638.5)
`
`664.1
`(226.0)
`
`46.8
`(—)
`
`9'4
`(64.2)
`
`3.1
`(5.0)
`
`84.8
`(90.9)
`
`57.3
`(38.1)
`
`1.
`
`2.
`
`3.
`
`4
`
`5
`
`6
`
`7
`
`'
`
`.
`
`.
`
`.
`
`en
`
`“E
`
`R
`
`E
`
`x enses
`p
`x enses
`'0
`
`ecovere
`
`en
`eceive
`d/R tR .
`
`d
`
`R
`
`204 | Lupin Limited
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`|PR2015-01030
`
`(Page 205 of 212)
`
`

`
`Sr. Transactions
`No.
`
`Subsidiaries
`/Jointly
`Controlled
`
`Key
`Management
`Personnel
`
`(? in million)
`
`Others
`
`Total
`
`8. Remuneration Paid
`
`.
`Purchases of Goods / Materials
`
`9.
`
`0.
`
`Investments during the year
`
`1. Advance against Investment
`.
`2. Refund of Advance against Investment
`
`3. Donations Paid
`
`4. Dividend Paid
`
`5. Business Compensation Expenses
`.
`.
`6. Services Received
`
`7. Expenses Reimbursed
`
`8. Dividend Income
`
`Entity
`
`_
`(—)
`—
`
`(5.5)
`
`80076
`(3010.1)
`
`(146)
`14.6
`
`(—)
`
`_
`(—)
`
`'
`(—)
`
`l2'l
`(—)
`1871.5
`
`(2068.3)
`
`5l8'l
`(576.3)
`
`6292
`(572.1)
`—
`
`(—)
`
`_
`(—)
`
`(_)
`—
`
`(—)
`
`_
`(—)
`
`l9'6
`(46.4)
`
`_
`(—)
`—
`
`(—)
`
`_
`(—)
`
`_
`(—)
`
`_
`(—)
`119.6
`
`(128.1)
`
`_
`(—)
`
`(_)
`—
`
`(—)
`
`M38
`(135.9)
`
`all
`(1424.8)
`
`_
`(—)
`—
`
`(—)
`
`_
`—
`
`_
`(—)
`
`6292
`(572.1)
`119.6
`
`(133.6)
`
`80076
`(3010.1)
`
`(146)
`14.6
`
`(—)
`
`M38
`(135.9)
`
`6307
`(1471.2)
`
`l2'l
`(—)
`1871.5
`
`(2068.3)
`
`5l8'l
`(576.3)
`
`37'l
`(3020.2)
`
`9 Deposits paid for Leave and Licence
`' arrangement for premises
`
`20. Refund of Deposits paid for Leave and Licence
`arrangement for premises
`
`2] Deposits received for Leave and Licence
`' arrangement for premises
`
`22.
`
`23.
`
`Corporate guarantee issued by the Company
`o the bankers of wholly owned subsidiary
`Companies
`Corporate guarantee withdrawn by the Company
`o the bankers of wholly owned subsidiary
`companies
`
`37'l
`(3020.2)
`
`—
`(—)
`
`—
`(—)
`
`—
`(—)
`
`3799
`
`(—)
`5130
`
`(5762)
`
`—
`(—)
`
`—
`(—)
`
`—
`(—)
`
`_
`
`(—)
`_
`
`l‘)
`
`—
`(0.4)
`
`—
`(7.9)
`
`—
`(0.1)
`
`_
`
`(—)
`_
`
`l‘)
`
`—
`(0.4)
`
`—
`(7.9)
`
`—
`(0.1)
`
`379.9
`
`(—)
`513.0
`
`(5762)
`
`Out of the above items, transactions in excess of 10% of the total related party transactions are as under :
`
`Sr. Transactions
`No.
`1.
`
`Sale of Goods
`
`2.
`
`3.
`
`Lupin Pharmaceuticals, Inc.
`Sale — Research Services—IP
`
`oldings SA
`Lupin Atlantis
`Sale — Research Services—Others
`
`a) Contract R & D Services
`
`oldings SA
`Lupin Atlantis
`b) Technology License Fees
`Laboratorios C-irn S.A. de C.V.
`
`Related party
`relation
`
`For the year
`ended 31.03.2015
`
`For the year
`ended 31.03.2014
`
`(? in million)
`
`Subsidiary Company
`
`44008.6
`
`44056.6
`
`Subsidiary Company
`
`1,003.2
`
`638.5
`
`Subsidiary Company
`
`Subsidiary Company
`
`664.1
`
`46.8
`
`226.0
`
`—
`
`Annual Report 2015 | 205
`
`Janssen Ex. 2002
`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 206 of 212)
`
`

`
`Sr. Transactions
`No.
`
`4.
`
`Income from Royalty
`Generic Health Pty Limited
`5. Guarantee Commission Income
`
`yowa Pharmaceutical Industry Co., Limited
`Ken Expenses
`_up'n Investments Pvt. Limited
`3ha at Steel Fabrication and Engineering Works
`Expenses Recovered / Rent Received
`_up'n Pharmaceuticals, Inc.
`_up'n (Europe) Limited
`_up'n GmbH
`3ha ma Dynamics (Proprietary) Limited
`yowa Pharmaceutical Industry Co., Limited
`Remuneration Paid
`
`6.
`
`7.
`
`8.
`
`Dr. D. B. Gupta
`
`Dr.
`
`amal K. Sharma
`
`r. Nilesh Gupta
`
`9.
`
`3urchases of Goods / Materials
`
`Concept Pharmaceuticals Limited
`Shuban Prints
`
`10.
`
`nvestments during the year
`_upin Atlantis Holdings SA
`11. Advance against Investment
`_upin
`iddle East FZ—LLC
`12. Refund of Advance against Investment
`_upin
`iddle East FZ—LLC
`13. Donatons Paid
`
`uman Welfare and Research Foundation
`_upin
`14. Dividend Paid
`
`oldings Pvt. Limited
`_upin
`Rahas Investments Pvt. Limited
`Visiomed Investments Pvt. Limited
`
`Zyma _aboratories Limited
`15. 3us'ness Compensation Expenses
`yowa Pharmaceutical Industry Co., Limited
`16. Services Received
`
`_up'n Pharmaceuticals, Inc.
`_up'n (Europe) Limited
`17. Expenses Reimbursed
`_up'n Pharmaceuticals, Inc.
`-Ior”nosan Pharma GmbH
`_up'n Atlantis Holdings SA
`18. Dividend Income
`
`_up'n Pharmaceuticals, Inc.
`19. Deposits paid for Leave and Licence arrangement
`or premises
`
`Related party
`relation
`
`For the year
`ended 31.03.2015
`
`For the year
`ended 31.03.2014
`
`(?in million)
`
`Subsidiary Company
`
`Subsidiary Company
`
`Others
`Others
`
`Subsdiary Company
`Subsdiary Company
`Subsdiary Company
`Subsdiary Company
`Subsdiary Company
`
`Key Management
`3ersonnel
`
`Key Management
`3ersonnel
`
`Key Management
`3ersonnel
`
`Others
`Others
`
`9.4
`
`3.1
`
`65.9
`10.4
`
`19.8
`7.8
`6.5
`—
`12.0
`
`375.8
`
`166.1
`
`82.3
`
`93.9
`25.7
`
`64.2
`
`5.0
`
`72.2
`10.3
`
`10.3
`3.0
`—
`6.2
`11.3
`
`371.5
`
`134.7
`
`60.7
`
`107.2
`20.9
`
`Subsidiary Company
`
`7982.8
`
`2993.7
`
`Subsidiary Company
`
`Subsidiary Company
`
`Others
`
`Others
`Others
`Others
`
`Others
`
`Subsidiary Company
`
`Subsidiary Company
`Subsidiary Company
`
`Subsidiary Company
`Subsidiary Company
`Subsidiary Company
`
`Subsidiary Company
`
`—
`
`14.6
`
`133.8
`
`121.2
`137.1
`130.5
`
`164.9
`
`12.1
`
`1254.2
`354.1
`
`407.4
`48.8
`40.2
`
`37.1
`
`14.6
`
`—
`
`129.2
`
`282.8
`319.9
`304.6
`
`384.7
`
`—
`
`1746.4
`262.4
`
`384.9
`73.4
`76.3
`
`3020.2
`
`3ha at Steel Fabrication and Engineering Works
`
`Others
`
`—
`
`0.4
`
`206 | Lupin Limited
`
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`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 207 of 212)
`
`

`
`Sr. Transactions
`No.
`
`Related party
`relation
`
`For the year
`ended 31.03.2015
`
`For the year
`ended 31.03.2014
`
`(? in million)
`
`20. Refund of Deposits paid for Leave and Licence
`arrangement for premises
`_upin Investments Pvt. Limited
`21. Deposits received for Leave and Licence arrangement
`or premises
`
`Dolynova Industries Limited
`22. Corporate guarantee issued by the Company to the
`bankers of wholly owned Subsidiary company
`-Iormosan Pharma C-imbH
`yowa CritiCare Co., Ltd, Japan (formerly I'rom
`3harmaceutical Co., Limited)
`
`23. Corporate guarantee withdrawn by the Company to
`he bankers of wholly owned Subsidiary company
`yowa Pharmaceutical Industry Co., Limited
`
`C. Balances due from / to the related parties:
`
`Others
`
`Others
`
`—
`
`—
`
`Subsidiary Company
`Subsidiary Company
`
`67.2
`312.7
`
`7.9
`
`0.1
`
`—
`—
`
`Subsidiary Company
`
`513.0
`
`576.2
`
`Sr. Transactions
`No.
`
`1.
`
`Investments
`
`2. Advance against Investment
`
`3
`
`'
`
`4.
`
`5.
`
`Deposits paid under Leave and Licence
`arrangement for premises
`.
`Trade Receivables
`
`Trade Payables
`
`Subsidiaries
`/Jointly
`Controlled Entity
`17877.9
`
`Key
`Management
`Personnel
`—
`
`(9870.3)
`
`(146)
`
`-
`(—)
`18440.4
`
`(22077.2)
`
`(—)
`
`(_)
`
`-
`(—)
`—
`
`(—)
`
`(? in million)
`
`Others
`
`Total
`
`—
`
`(—)
`
`(_)
`
`54-7
`(54.7)
`—
`
`(—)
`
`17877.9
`
`(9870.3)
`
`(146)
`
`54-7
`(54.7)
`18440.4
`
`(22077.2)
`
`6.
`
`7.
`
`8.
`
`Commission Payable
`
`Expenses Payable
`
`Expenses Receivable
`
`9. Advance from Customer
`
`10.
`
`Income Receivable
`
`HI Deposits received under Leave and Licence
`arrangement for premises
`
`12' Letter of Comfort issued by the Company to
`the bankers of subsidiary companies
`
`Corporate guarantee issued by the Company
`to the bankers of wholly owned subsidiary
`companies
`
`13.
`
`6253
`(947.3)
`
`_
`(—)
`
`595
`(211.2)
`
`405
`(9.0)
`
`l9'4
`(-)
`
`38'l
`(1.0)
`
`-
`(-)
`
`B95
`(133.5)
`
`1849.9
`(22642)
`
`_
`(—)
`
`3268
`(323.5)
`
`_
`(—)
`
`_
`(-)
`
`_
`(-)
`
`_
`(-)
`
`-
`(-)
`
`‘
`(_)
`
`—
`(_)
`
`3'4
`(6.6)
`
`_
`(—)
`
`_
`(—)
`
`_
`(0.1)
`
`_
`(-)
`
`_
`(-)
`
`0.1
`(0.1)
`
`‘
`(_)
`
`—
`(_)
`
`6287
`(953.9)
`
`3268
`(323.5)
`
`595
`(211.2)
`
`405
`(9.1)
`
`l9'4
`(-)
`
`38'l
`(10)
`
`0.1
`(0.1)
`
`B95
`(1335)
`
`1849.9
`(22642)
`
`i) F'gures in brackets are for previous year.
`ii) Related party relationship is as identified by the Company and relied upon by the Aud "tors.
`
`Annual Report 2015 | 207
`
`Janssen Ex. 2002
`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 208 of 212)
`
`

`
`50. Sale of research services include ? 227.7 million in respect of income accrued w.e.f. April 1, 2013 for providing captive
`research services at cost plus an arm's length mark—up in relation to certain products development under Amendment II dated
`March 15, 2015 to the Product Development Agreement dated October 8, 2012, as amended, between the Company and
`Lupin Atlantis Holdings SA (LAHSA). The rights, interest and title to the said products and their use togetherwith all associated
`intellectual property rights vest with LAHSA.
`
`51.
`
`52.
`
`53.
`
`in terms of Schedule II to the Companies Act, 2013 read together with Accounting Standard 6 (AS — 6)
`During the year,
`"Depreciation Accounting", the management of the Company has, based on independent technical evaluation, reassessed the
`remaining useful lives of fixed assets to align with those specified in Schedule II and undertaken the componentization of major
`items of fixed assets with effect from April 1, 2014. In terms of these evaluations, changes have been made in the useful lives
`of certain assets from their previous estimates as under:
`
`
`
` Asset Previous useful life Revised Useful Li e
`
`
`
`Plant and Equipment
`Furniture and Fixtures
`Vehicles
`Office Equipment
`
`9.7 to 21.1 years
`15.8 years
`10.5 years
`6.2 to 21.1 years
`
`10 to 15 yea s
`10 yea s
`8 yea s
`3 to 6 yea s
`
`Pursuant to the transition provisions prescribed in Schedule II to the Compa
`the carrying value of assets, net of residual value, where the remaining use
`April 1, 2014, and has adjusted an amount of ? 610.8 million (net of de
`erred tax of ? 314.6 million) against the open"
`Surplus balance in the Statement of Profit and Loss under Reserves and Surplus.
`
`nies Act, 2013, the Company has fully deprecia
`ul life of the asset was determined to be nil as
`
`The depreciation expense in the Statement of Profit and Loss for the yea
`change in the useful lives of the assets.
`
`is higher by ? 1618.2 million consequent to
`
`Excise duty (Refer note 28) includes ? 32.9 million (previous year ? 34.2 mi
`on opening and closing stock.
`
`lion) being net impact of the excise duty provis'
`
`OH
`
`ng
`
`he
`
`OH
`
`No borrowing cost has been capitalised during the year.
`
`54. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification
`/disclosure.
`
`Dr. Kamal K. Sharma
`Vice Chairman
`DIN: 00209430
`
`M. D. Gupta
`Executive Director
`DIN: 00209461
`
`R. A. Shah
`Director
`DIN: 00009851
`
`Vinita Gupta
`Chief Executive Officer
`DIN: 00058631
`
`Dr. Vijay Kelkar
`Director
`DIN: 00011991
`
`Dr. K. U. Mada
`Director
`DIN: 00011395
`
`Ramesh Swaminathan
`Chief Financial Officer
`
`R. V. Satam
`Company Secretary
`ACS — 11973
`
`Signatures to note 1 to 54
`
`For Lupin Limited
`
`Dr. Desh Bandhu Gupta
`Chairman
`DIN: 00209378
`
`Nilesh Gupta
`anaging Director
`DIN: 01734642
`
`Richard Zahn
`Director
`DIN: 02937226
`
`Dileep C. Choksi
`Director
`DIN: 00016322
`
`: Mumbai
`Dlace
`Dated : May 13,2015
`
`208 | Lupin Limited
`
`Janssen Ex. 2002
`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 209 of 212)
`
`

`
`Janssen Ex. 2002
`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 210 of 212)
`
`

`
`LUPIN LIMITED
`
`Corporate Office
`Laxmi Towers, ‘B’ Wing
`Bandra Kurla Complex
`Bandra (East)
`Mumbai 400 051
`India
`
`Tel.: +91 (22) 6640 2222
`
`Registered Office
`159, C.S.T. Road, Kalina
`
`Santacruz (East)
`Mumbai 400 098
`India
`
`Tel.: +91 (22) 6640 2323
`
`Email
`
`info@|upin.com
`
`Website
`
`www.|upin.com
`
`Janssen Ex. 2002
`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 211 of 212)
`
`

`
`m Iinkedin.com/company/lupin
`
`LUPIN
`
`www_ lupin_C0m
`
`twitter.com/Iupinlimited
`
`Janssen Ex. 2002
`
`Lupin Ltd. v. Janssen Sciences Ireland UC
`|PR2015-01030
`
`(Page 212 of 212)