Financials
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(Rs.Lacs)
Particulars Quarter Ended Year Ended

       Consolidated     Year Ended

  31-3-2009(Unaudited) 31-3-2008(Unaudited) 31-3-2009(Audited) 31-3-2008(Audited) 31-3-2009(Audited) 31-3-2008(Audited)
Sales 32570 25368 130784 108863 132632 109773
Other Operating Income 48 392 804 1415 884 1394
Sales/Income from Operations 32618 25760 131588 110278 133516 111167
Less: Excise Duty and Sales Tax 861 770 4252 4643 4252 4643
Net Sales/Income from Operations 31757 24990 127336 105635 129264 106524
Expenditure:
a) (Increase)/decrease in stock in trade and work in progress 447 (759) (3429) (2478) (3254) (2882)
b) Materials consumption 11753 10947 48155 44426 48035 44326
c) Purchase of traded goods 1254 598 5092 4362 5946 4944
d) Employees cost 4941 3600 18429 14388 18821 14704
e) Depreciation / Amortisation 1061 848 3928 3221 3966 3251
f) Manufacturing and other expenditure 7981 6931 32309 26574 33187 27259
Total Expenditure 27437 22165 104484 90493 106701 91602
Profit from operations before Other Income, Foreign Exchange translations (loss)/gain, Interest & Tax 4320 2825 22852 15142 22563 14922
Other Income 102 128 221 281 64 280
Profit before Foreign Exchange translations (loss)/gain, Interest & Tax 4422 2953 23073 15423 22627 15202
Foreign Exchange translations (loss)/gain (1536) (18) (7569) 4272 (7615) 4363
Financial Cost (Net) 788 461 3039 2008 3180 2039
Profit before tax 2098 2474 12465 17687 11832 17526
Tax Expense (including Deferred, Fringe Benefit Tax & earlier year provision for tax written back) 289 210 2324 3575 2325 3579
Share of loss transferred to minority - - - - 38 -
Share of (loss)/profits from Investments in Associates - - - - 400 (393)
Proportionate share of dividend received by Associates from cross holding - - - - 135 39
Net Profit after tax (before exceptional items) 1809 2264 10141 14112 10080 13593
Exceptional items
Provision for investment / loan in wholly owned subsidiary - Laboratories Ipca Do Brasil Ltda, Brazil 1019 - 1019 - - -
Net Profit (after exceptional items) 790 2264 9122 14112 10080 13593
Paid-up equity share capital (Face value of Rs.10/- each) 2499 2509 2499 2509 2499 2509
Reserves excluding revaluation reserve - - 61352 58257 60630 56411
Earnings per share (Rs.)(before exceptional  items)
            
Basic 7.21  9.04 40.39 56.38 40.15 54.31
Diluted 7.18  9.02 40.26 56.20 40.02 54.13
Earnings per share (Rs.)(after exceptional items)
            
Basic 3.15 9.04 36.33 56.38

40.15

 54.31
Diluted 3.14

9.02

 36.21 56.20 40.02 54.13
Aggregate of public shareholding  
- Number of shares 13405233 13536230 13405233 13536230 - -
- Percentage of shareholding 53.64% 53.95% 53.64% 53.95% - -
Promoters and Promoter group
a) Pledged / Encumbered - Number of shares 4118000 - 4118000 - - -
Percentage of shares (as a % of the total shareholding of promoter and promoter group) 35.55% - 35.55% - - -
Percentage of Shares (as a % of the total share capital of the Company) 16.48% - 16.48% - - -
b)Non-encumbered - Number of Shares 7465758 - 7465758 - - -
Percentage of Shares (as a % of the total shareholding of promoter and promoter group 64.45% - 64.45% - - -
Percentage of Shares (as a % of the total share capital of the Company) 29.88% - 29.88% - - -

Notes:

1.The above audited financial results as reviewed by the Audit Committee were approved and taken on record by the Board of Directors in their meeting held on May 28, 2009.
2. The Board has recommended a Final Dividend of Rs.4/- per share for the financial year 2008-09. Together with the Interim Dividend of Rs.7/- per share already declared and paid, the total Dividend for the financial year amounts to Rs.11/- per share.
3. The Company has adopted the Hedge Accounting as suggested in Accounting Standard 30 - "Financial Instruments - recognition and measurement" in respect of its derivative contracts and forward contracts entered into hedge its foreign currency risk associated with the highly probable future export transactions as a cash flow hedge. These instruments meet the test of effective hedge and in accordance with the Accounting Standard the MTM losses of Rs.30.55 crores have been debited to equity account under "Foreign Currency Hedging Reserve" to be ultimately recognized in the profit and loss account in the period when the transactions, for which the hedging instruments were entered into, arises. On account of this early adoption of AS-30, Profit before tax for the year ending March, 2009 is higher by Rs.30.55 crores and the profit after tax is higher by Rs.20.17 crores. The Company's foreign currency exposure in the form of foreign currency loans, current assets and current liabilities are re-stated in accordance with the principles set out in AS11.
4. The Company has decided not to exercise the option available under amendment to AS11 relating to "The effects of Changes in Foreign Exchange Rates" in respect of its Long Term Foreign Currency Monetary Items in respect of foreign currency loans for the acquisition of fixed assets and accordingly is continuing to follow the principles laid down in AS11 before such amendment and has restated its foreign currency exposure of its foreign currency loans at the year end rates by debiting the loss to its profit and loss account.
5.

During the financial year -

a) Ipca Traditional Remedies Pvt. Ltd. has become the subsidiary of the Company; and

b) Company has incorporated wholly owned subsidiaries in Mexico by the name "Ipca Pharmaceuticals Ltd. SA de CV" and in China by the name "Ipca Pharmaceuticals (Shanghai) Ltd."

6. Previous year's figures have been regrouped, wherever necessary.
7. The entire operations of the Company relate to only one segment viz.'Pharmaceuticals'.
6. 67 investor grievances were received for the quarter ended 31st March, 2009 and disposed off. There are no investor grievances lying unresolved as at 31st March, 2009.
By Order of the Board
  For Ipca Laboratories Limited
 
Place : Mumbai Premchand Godha
Date : May 28, 2009 Managing Director
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