Financial Profile

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UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30th JUNE, 2010

(Rupees in crores)

Quarter Ended Year Ended

30.06.2010 30.06.2009 31.03.2010

(Audited)

1. a) Gross Sales 1441.03 1339.46 5411.68

Less: Excise Duty 13.65 14.20 52.16

Net Sales 1427.38 1325.26 5359.52

b)Other Operating Income 52.38 48.69 265.39

Total Operating Income (a+b) 1479.76 1373.95 5624.91

2. Expenditure

a) (Increase)/decrease in Stock-in-trade and work in 20.86 (59.20) (184.09)

progress

b) Consumption of 522.47 518.60 2033.01

Materials

c) Purchase of Traded 126.90 147.25 621.66

Goods

137.56 95.02 371.08

d) Employees Cost

54.82 45.81 187.84

e) Depreciation

321.37 330.76 1430.09

f) Other Expenditure
 1183.98 1078.24 4459.59
g) Total

3. Profit (+)/Loss (-) from Operations before Other Income 295.78 295.71 1165.32
and Interest & Exceptional Items (1-2)

4. Other Income 16.75 11.97 88.33

5. Profit (+)/Loss (-) before Interest & Exceptional Items 312.53 307.68 1253.65
(3+4)

6. Interest 0.11 10.47 23.66

7. Profit (+)/Loss (-) after Interest but before & 312.42 297.21 1229.99
Exceptional Items
(5-6)

- - 95.00
8. Exceptional Items

9. Profit (+)/Loss (-) before Tax (7+8) 312.42 297.21 1324.99

10. Tax Expense

a) Current Tax 51.25 50.50 228.50

b) Deferred Tax 3.75 5.00 15.00

11. Net Profit (+)/Loss (-) after Tax (9-10) 257.42 241.71 1081.49

12. Paid-up Equity Share Capital (Face Value Rs.2/- per share) 160.58 155.46 160.58

13. Reserves excluding Revaluation 5744.54

Reserves as per Balance Sheet of previous Accounting
Year

14. *3.21 *3.11 13.69

Earning per Share (Rs.)
*Not Annualised

15.
Public Shareholding
500997461 464372787 500842336
- Number of Shares
62.40 59.74 62.38
- Percentage of Shareholding

16. Promoters and Promoter Group Shareholding

a) Pledged/Encumbered
- Number of Shares
- Percentage of shares (as a % of the total
shareholding of promoter and promoter group) NIL NIL NIL
- Percentage of shares (as a % of the total share NIL NIL NIL
capital of the Company)

b) Non Encumbered
- Number of Shares
- Percentage of shares (as a % of the total
 shareholding of promoter and promoter group)
NIL NIL NIL
- Percentage of shares (as a % of the total share
capital of the Company)

295485978 306108047 295485978

100.00 100.00 100.00

36.80 39.38 36.80

Notes:

1. The Company is essentially in the pharmaceutical business segment.

2. No investor grievances were pending at the beginning of the quarter. During the quarter ended 30 t h
June, 2010, six investor grievances were received. As of 30 t h June, 2010 all grievances have been
suitably replied to.

3. In 2003 the Company received notice of demand from the National Pharmaceutical Pricing Authority,
Government of India on account of alleged overcharging in respect of certain drugs under the Drug Price
Control Order. This was contested before the jurisdictional High courts wherein it was held in favour of
the Company. The orders were challenged before the Hon'ble Supreme Court by the Government. The
Hon'ble Supreme Court by separate orders restored the matter to the jurisdictional High Court for
interpreting the Drug Policy on the basis of directions and principles laid down by them and also
restrained the Government from taking any coercive action against the Company. The Company has
been legally advised that on the basis of these orders there is no probability of demand crystallising.
Hence no provision is considered necessary in respect of notice of demand aggregating to Rs.1157.12
crores (inclusive of interest) for the period July 1995 to April 2009.

4. The figures of the previous year have been regrouped/recast to render them comparable with the
figures of the current year.

5. The above results after being reviewed by the Audit Committee were approved at the meeting of the
Board of Directors held on 13 t h August, 2010. Limited Review as required under Clause 41 of the Listing
Agreement has been completed by the Statutory Auditors of the Company.

By order of the Board

For CIPLA LIMITED

Mumbai Dr. Y. K. Hamied

13th August, 2010 Chairman & Managing Director

Financial Review - Period ended June 2010

Financial performance:
 (Rupees in crores)

Quarter Ended

30/06/2010 30/06/2009 % change

Domestic 675.15 651.89 3.6%

625.72 547.16 14.4%

Exports Formulations

140.16 140.41 -0.2%

APIs & others

Total Exports 765.88 687.57 11.4%

53.1% 51.3%
% of exports to total sales

Total Sales 1441.03 1339.46 7.6%

Other operating income

15.89 25.67
Technology
know-how/fees

36.49 23.02
Others

52.38 48.69 7.6%

Total

Income from Operations 1493.41 1388.15 7.6%

Material Cost 670.23 606.65

46.5% 45.3%
% to total sales

Operating margin 350.60 341.52 2.7%

23.5% 24.6%
% to income from operations

Profit before tax 312.42 297.21 5.1%

20.9% 21.4%
% to income from operations
 Profit after tax 257.42 241.71 6.5%

17.2% 17.4%
% to income from operations

During the quarter, the company posted a growth of about 8% in income from operations. While domestic sales
grew by about 4%, export sales grew by more than 11%. Exports of formulations grew by more than 14%
whereas exports of APIs & others have been almost equal. The lower growth in domestic sales is primarily due
to sale of ipill business and lower sales of certain products in the domestic generic business. However, the
growth in branded generics for the quarter was about 11%.

Material cost has marginally increased and operating margins has decreased (in percentage terms) on a year-
on-year basis due to changes in product mix. However, on a quarter-on-quarter basis, operating margins have
improved from about 19% to more than 23%.

The increase in staff cost (Rs. 42 cr) is due to annual increments, increase in manpower – in particular at
Indore, SEZ and regrouping of contractual staff at Goa facilities. Interest cost has decreased due to repayment
of short-term working capital loans availed by the company. Depreciation has increased by about Rs. 9 cr due
to additions to fixed assets mainly on account of commissioning of Indore SEZ factory.

The Company has provided for tax under Minimum Alternate Tax (MAT) .

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Shareholding Pattern as on 30th June 2010

Number of
Number of Total Total shareholding as a Shares Pledged
Category Category of shares held in
Share number percentage of total number or otherwise
code Shareholder dematerialized
holders of shares of shares encumbered
form

As % of As % of Number As a
( A+B) (A+B+C) of shares %
 (IX)=(VIII)/
(I) (II) (III) (IV) (V) (VI) (VII) (VIII)
(IV)*100

Promoter and
(A) Promoter
Group

(1) Indian

Individuals/ Hindu
(a) 15 122720500 84220000 15.41 15.28 NIL NIL
Undivided Family

Central
Government/
(b) - - - - -
State
Government(s)

(c) Bodies Corporate 9 6022791 6009375 0.76 0.75 NIL NIL

Financial
(d) Institutions/ - - - - -
Banks

Any
(e) - - - - -
Others(Specify)

Sub-Total (A)
24 128743291 90229375 16.16 16.03 NIL NIL
(1)

(2) Foreign

Individuals (Non-
Resident
(a) Individuals/ 4 166742687 166742687 20.93 20.77 NIL NIL
Foreign
Individuals)

(b) Bodies Corporate - - - - -

(c) Institutions - - - - -

Any
(d) - - - - -
Others(Specify)

Sub Total
4 166742687 166742687 20.93 20.77 NIL NIL
(A)(2)

Total Share 28 295485978 256972062 37.10 36.80 NIL NIL

holding of
Promoter and
Promoter
Group (A)=
 (A)(1)+
(A)(2)

Public share
(B) NA NA
holding

(1) Institutions NA NA

(a) Mutual Funds/ UTI 156 46820248 46820248 5.88 5.83

Financial
(b) Institutions / 34 1356491 1282391 0.17 0.17
Banks

Central
Government/
(c) - - - - -
State
Government(s)

Venture Capital
(d) - - - - -
Funds

Insurance
(e) 19 91957401 91957401 11.55 11.45
Companies

Foreign
(f) Institutional 260 129813659 129813659 16.30 16.17
Investors

Foreign Venture
(g) - - - - -
Capital Investors

Any Other
(h) - - - - -
(specify)

Sub-Total (B)
469 269947799 269873699 33.89 33.62
(1)

Non-
(2) NA NA
institutions

(a) Bodies Corporate 1945 31428644 30989982 3.95 3.91

(b) Individuals

i. Individual
shareholders
holding nominal 148242 56009498 50126145 7.03 6.98
share capital up
to Rs 1 lakh

ii. Individual 439 116422489 71755565 14.62 14.50

shareholders
 holding nominal
share capital in
excess of Rs. 1
lakh.

Any Other
(c)
(specify)

(c-i) Trust 19 118062 118062 0.01 0.01

(c-ii) Foreign Bodies 1 137673 137673 0.02 0.02

Non-Resident
(c-iii) 2815 26629631 4000731 3.34 3.32
Indians

(c-iv) Foreign National 1 200 200 0.00 0.00

(c-v) Clearing Members 176 303465 303465 0.04 0.04

Sub-Total (B)
153638 231049662 157431823 29.01 28.78
(2)

Total Public
Shareholding
154107 500997461 427305522 62.90 62.40 NA NA
(B)= (B)(1)+
(B)(2)

TOTAL
154135 796483439 684277584 100 99.20 NIL NIL
(A)+(B)

Shares held by
Custodians
and against
(C) which 2 6437918 6437918 NA 0.88 NA NA
Depository
Receipts have
been issued

GRAND TOTAL
154137 802921357 690715502 100 NIL NIL
(A)+(B)+(C)

NA - Not applicable

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AUDITED CONSOLIDATED FINANCIAL RESULTS

FOR THE YEAR ENDED 31st MARCH, 2010

(Rupees in cror

Year Ended
- Particulars
31.03.2010 31.03.2009

1 a) Gross Sales 5411.68 5021

Less: Excise Duty 52.16 61

Net Sales 5359.52 4960

b) Other Operating Income 265.39 285

Total Operating Income (a+b) 5624.91 5246

2 Expenditure

- a) (Increase)/decrease in (184.09) (113.

Stock-in-trade and work in progress

- b) Consumption of Materials 2033.01 1892

- c) Purchase of Traded Goods 621.66 588

- d) Employee Cost 371.31 317

e) Depreciation 189.66 170

f) Other Expenditure 1426.72 1530

4458.27 4384
g) Total

3 1166.64 861
Profit (+)/Loss (-) from Operations before Other
Income and Interest & Exceptional Items (1-2)

4 Other Income 88.11 69

5 1254.75
Profit (+)/Loss (-) before Interest & Exceptional 930
Items (3+4)
6 Interest 23.66 33

7 1231.09
Profit (+)/Loss (-) after Interest but before 896.
Exceptional Items (5-6)

8 Prior Period Expense - 1.

9 Exceptional items* 95.00

10 Profit (+)/Loss (-) before Tax (7-8+9) 1326.09 895.

11
Tax Expense
228.50 101
a) Current Tax
15.00 15
b) Deferred Tax
- 8
c) Fringe Benefit Tax

12 Net Profit (+)/Loss (-) after Tax (10-11) 1082.59 771

13 160.58
Paid-up Equity Share Capital 155
(Face Value Rs.2/- per share)

14 5741.03 4183.
Reserves excluding Revaluation
Reserves as per Balance Sheet of previous
Accounting Year

15 Earning per Share (Rs.) 13.69 9

16
Public Shareholding
500849336
- Number of Shares 4629180
62.38
- Percentage of Shareholding 59

17
Promoters and Promoter Group Shareholding

a) Pledged/Encumbered
- Number of Shares NIL
- Percentage of shares (as a % of the total NIL
shareholding of promoter and promoter group)
NIL N
- Percentage of shares (as a % of the total share
capital of the Company)

b) Non Encumbered
295485978
- Number of Shares 3061080
100.00
- Percentage of shares (as a % of the total 100
shareholding of promoter and promoter group)
36.80
- Percentage of shares (as a % of the total share 39
capital of the Company)
Notes:

1. The Company is essentially in the pharmaceutical business segment.

2. The Directors at their meeting held today recommended payment of dividend of Rs.2 per equity share (f
value Rs.2) for the year 2009-2010 amounting to Rs. 160.58 crores.

3. The above results include results of the Company and its wholly owned subsidiary viz., Cipla FZE.

4. In 2003 the Company received notice of demand from the National Pharmaceutical Pricing Authority,
Government of India on account of alleged overcharging in respect of certain drugs under the Drug Price
Control Order. This was contested before the jurisdictional High courts wherein it was held in favour of t
Company. The orders were challenged before the Hon'ble Supreme Court by the Government. The Hon'b
Supreme Court by separate orders restored the matter to the jurisdictional High Court for interpreting th
Drug Policy on the basis of directions and principles laid down by them and also restrained the Governm
from taking any coercive action against the Company. The Company has been legally advised that on th
basis of these orders there is no probability of demand crystalising. Hence no provision is considered
necessary in respect of notice of demand aggregating to Rs.1157.12 crores (inclusive of interest) for the
period July 1995 to April 2009.

5. The Audited Standalone financial results are available on the Company's website i.e.www.cipla.com. The
key standalone financial information for the year 2009 – 2010 are as under:

a. Turnover: Rs.5411.68 crores (previous year Rs.5021.64 crores )

b. Profit before tax: Rs.1324.99 crores (previous year Rs.901.31 crores )
c. Profit after tax: Rs.1081.49 crores (previous year Rs.776.81 crores )

6. *In March 2010, the Company sold its intellectual property rights and technical knowhow of “i-pill”, an
emergency contraceptive brand, to Piramal Healthcare Limited for the territory of India at an aggregate
consideration of Rs. 95 crores.

7. The paid-up equity share capital stands increased to Rs.160.58 crores (80,29,21,357 equity shares of R
each) upon allotment of 2,56,30,000 equity shares of Rs.2 each issued at a price of Rs.263.75 (including
premium of Rs.261.75) under Qualified Institutions Placement (QIP) during the quarter ended Septembe
2009.

8. The figures of the previous year have been regrouped/recast to render them comparable with the figure
of the current year.

9. The Audited Consolidated Statement of assets and liabilities is as under:

(Rs. in crores)

Particulars Year Ended

31.03.2010 31.03.2009

Shareholders Funds

(a) Capital 160.58 155.46

(b) Reserves and Surplus 5749.99 4192.34

Loan Funds 5.07 940.24

Deferred Tax Liabilities 179.15 164.15

Total 6094.79 5452.19

 Fixed Assets 2695.41 2358.81

Investments 246.41 80.05

Current Assets, Loans and Advances

(a) Inventories 1512.58 1398.32

(b) Sundry Debtors 1566.63 1852.86

(c) Cash and Bank balances 62.06 53.39

(d) Other current assets 57.82 23.45

(e) Loans and Advances 1168.22 894.89

Less: Current Liabilities and Provisions

(a) Liabilities 997.97 1012.87

(b) Provisions 216.37 196.71

Total 6094.79 5452.19

10. The above results after being reviewed by the Audit Committee were approved at the meeting of the Bo
of Directors held on 15 th June, 2010.

By order of the Bo
For CIPLA LIMI

Mumbai Dr. Y. K. Ham

15th June, 2010 Chairman & Managing Dire

AUDITED STANDALONE FINANCIAL RESULTS

FOR THE YEAR ENDED 31st MARCH, 2010
 (Rupees in cror

Year Ended
- -
31.03.2010 31.03.2009

1 a) Gross Sales 5411.68 5021

Less: Excise Duty 52.16 61.

Net Sales 5359.52 4960.

b) Other Operating Income 265.39 285

Total Operating Income (a+b) 5624.91 5246

2 Expenditure

- a) (Increase)/decrease in (184.09) (113.

Stock-in-trade and work in progress

- b) Consumption of Materials 1892

2033.01

- c) Purchase of Traded Goods 621.66 588

- d) Employee Cost 371.08 316

e) Depreciation 187.84 170.

f) Other Expenditure 1430.09 1526.

4459.59 4380.
g) Total

3 1165.32 865
Profit (+)/Loss (-) from Operations before Other
Income, Interest & Exceptional
Items (1-2)

4 Other Income 88.33 69

5 1253.65
Profit (+)/Loss (-) before Interest & Exceptional 935
Items (3+4)

6 Interest 23.66 33

7 1229.99 901.
Profit (+)/Loss (-) after Interest but before
Exceptional Items (5-6)

8 Exceptional items* 95.00

9 Profit (+)/Loss (-) before Tax (7+8) 1324.99 901.

10
Tax Expense
228.50 101
a) Current Tax
15.00 15.
b) Deferred Tax
 - 8
c) Fringe Benefit Tax

11 Net Profit (+)/Loss (-) after Tax (9-10) 1081.49 776

12 160.58
Paid-up Equity Share Capital 155
(Face Value Rs.2 per share)

13 5744.55 4186
Reserves excluding Revaluation
Reserves as per Balance Sheet of previous Accounting
Year

14 Earning per Share (Rs.) 13.69 9

15
Public Shareholding
500849336
- Number of Shares 4629180
62.38
- Percentage of Shareholding 59

16
Promoters and Promoter Group Shareholding

a) Pledged/Encumbered
- Number of Shares NIL
- Percentage of shares (as a % of the total NIL
shareholding of promoter and promoter group)
NIL N
- Percentage of shares (as a % of the total share
capital of the Company)

b) Non Encumbered
295485978
- Number of Shares 3061080
100.00
- Percentage of shares (as a % of the total 100.
shareholding of promoter and promoter group)
36.80
- Percentage of shares (as a % of the total share 39.
capital of the Company)

Notes:

1. The Company is essentially in the pharmaceutical business segment.

2. The Directors at their meeting held today recommended payment of dividend of Rs.2 per equity share (f
value Rs.2) for the year 2009-2010 amounting to Rs.160.58 crores.

3. In 2003 the Company received notice of demand from the National Pharmaceutical Pricing Authority,
Government of India on account of alleged overcharging in respect of certain drugs under the Drug Price
Control Order. This was contested before the jurisdictional High courts wherein it was held in favour of t
Company. The orders were challenged before the Hon'ble Supreme Court by the Government. The Hon'b
Supreme Court by separate orders restored the matter to the jurisdictional High Court for interpreting th
Drug Policy on the basis of directions and principles laid down by them and also restrained the Governm
from taking any coercive action against the Company. The Company has been legally advised that on th
basis of these orders there is no probability of demand crystalising. Hence no provision is considered
 necessary in respect of notice of demand aggregating to Rs.1157.12 crores (inclusive of interest) for the
period July 1995 to April 2009

4. *In March 2010, the Company sold its intellectual property rights and technical knowhow of “i-pill”, an
emergency contraceptive brand, to Piramal Healthcare Limited for the territory of India at an aggregate
consideration of Rs. 95 crores.

5. The paid-up equity share capital stands increased to Rs.160.58 crores (80,29,21,357 equity shares of R
each) upon allotment of 2,56,30,000 equity shares of Rs.2 each issued at a price of Rs.263.75 (including
premium of Rs.261.75) under Qualified Institutions Placement (QIP) during the quarter ended Septembe
2009.

6. The figures of the previous year have been regrouped/recast to render them comparable with the figure
of the current year.

7. The Audited Standalone Statement of assets and liabilities is as under:

(Rs. in crores)

Particulars Year Ended

31.03.2010 31.03.2009

Shareholders Funds

(a) Capital 160.58 155.46

(b) Reserves and Surplus 5753.51 4195.29

Loan Funds 5.07 940.24

Deferred Tax Liabilities 179.15 164.15

Total 6098.31 5455.14

Fixed Assets 2695.41 2358.81

Investments 265.10 81.32

Current Assets, Loans and Advances

(a) Inventories 1512.58 1398.32

(b) Sundry Debtors 1552.71 1837.15

(c) Cash and Bank balances 60.84 53.00

(d) Other current assets 57.82 23.45

 (e) Loans and Advances 1168.18 912.65

Less: Current Liabilities and Provisions

(a) Liabilities 997.96 1012.85

(b) Provisions 216.37 196.71

Total 6098.31 5455.14

8. The above results after being reviewed by the Audit Committee were approved at the meeting of the Bo
of Directors held on 15 th June, 2010.

By order of the Bo
For CIPLA LIMI

Mumbai
Dr. Y. K. Ham
15th June, 2010