Annual Report 2003-2004 of Dr. Reddy’s Laboratories Limited

It is a broadly described annual report of Dr. Reddy’s Laboratories Limited in the year of 2003-2004. During the financial year, The Company’s Net sales increased by 12% from Rs. 17,289 million in 2002-03 to Rs. 19,334 million in 2003-04. The company’s revenues from International markets increased by 12% from Rs. 11,618 million to Rs. 13,052 million in 2003-04; contributed 65% of the total Company’s revenue. Revenue from India increased by 10% from Rs. 6,488 million to Rs. 7,152 million in 2003-04; contributed 35% of the total Company’s revenue. Other income primarily includes forex income, interest income and other miscellaneous operational income increased by 66% from Rs. 538 million in 2002-03 to Rs. 894 million in 2003-04. Profit before depreciation, interest, and tax (PBDIT) calculated net of other income declined by 34% from Rs. 4,362 million in 2002-03 to Rs. 2,863 million in 2003-04. Post-tax profit (PAT) decreased by 31% from Rs. 3,642 million in 2002-03 to Rs. 2,515 million in 2003-04.

The Board of Directors of the Company has proposed a dividend of Rs. 5/- on equity shares of Rs. 5/- each. The dividend will be paid from 02^nd August 2004 onwards after approval of the Shareholders at AGM on 28^th July 2004.

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