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Alkem Laboratories Ltd.

BSE: 539523 Sector: Health care
NSE: ALKEM ISIN Code: INE540L01014
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OPEN 1857.10
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VOLUME 650
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P/E 25.03
Mkt Cap.(Rs cr) 22,046
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OPEN 1857.10
CLOSE 1860.40
VOLUME 650
52-Week high 2104.00
52-Week low 1660.35
P/E 25.03
Mkt Cap.(Rs cr) 22,046
Buy Price 1804.00
Buy Qty 1.00
Sell Price 1876.90
Sell Qty 1.00

Alkem Laboratories Ltd. (ALKEM) - Director Report

Company director report

Dear Members

Alkem Laboratories Limited

Your Directors are pleased to present their 44th Annual Report on the business andoperations together with the Audited Financial Statements of the Company for the financialyear ended 31st March 2018. Consolidated performance of the Company and its subsidiarieshas been referred to wherever required.

FINANCIAL PERFORMANCE

Standalone Consolidated
Particulars Year ended 31st March 2018 Year ended 31st March 2017 Year ended 31st March 2018 Year ended 31st March 2017
Income from Operations 53002.6 46684.5 64311.8 58525.0
Other Income 816.6 1166.0 959.5 1120.1
Total Revenue 53819.2 47850.5 65271.3 59645.0
Profit before Interest Depreciation and Tax 10743.1 9945.9 11243.3 11109.7
Less: Interest 323.7 236.8 553.3 451.6
Less: Depreciation 1076.5 764.8 1430.3 1011.7
Profit before tax 9342.9 8944.3 9259.8 9646.3
Less: Provision for Taxation (net) 2184.5 112.7 2875.6 599.6
Profit after tax and before Non-controlling Interest 7158.4 8831.6 6384.2 9046.7
Less: Non-controlling Interest - - 74.8 126.4
Profit for the year 7158.4 8831.6 6309.4 8920.3
Other comprehensive income (72.7) (36.7) (189.6) (231.6)
Other Comprehensive income attributable to Non-Controlling - - (1.1) 2.4
Interest
Total comprehensive income attributable to owners of the Company 7085.7 8794.9 6118.7 8691.1
Balance of other equity attributable to owners of the Company / Parent - opening balance 43687.4 35755.9 44437.3 36680.4
Less: Interim Dividend 1793.5 717.4 1793.5 717.4
Less: Dividend Distribution Tax 365.1 146.0 370.2 146.0
Employee Stock Option exercised - - (0.2) -
Employee Compensation Expenses - - 6.5 3.7
Less: Decrease in equity on Acquisition of additional stake in subsidiary - - - 76.6
Capital Receipts - - - 2.0
Balance of other equity attributable to owners of the Company / Parent - closing balance 48614.5 43687.4 48398.6 44437.3

OVERVIEW OF FINANCIAL PERFORMANCE

During the financial year ended 31st March 2018 the Company's total revenue includingother income was Rs.53819.2 million on standalone basis as against Rs.47850.5 millionachieved in the previous year registering a growth of 12.5%.

The export turnover of the Company during the financial year 2017-18 was Rs.9942.4million as against Rs.7242.0 million achieved in the previous year registering a growthof 37.3%.

During the financial year ended 31st March 2018 the Company achieved total revenueincluding other income of Rs.65271.3 million on consolidated basis as against a turnoverof Rs.59645.0 million achieved in the previous year registering a growth of 9.4%.

During the financial year ended 31st March 2018 Standalone Profit before interestdepreciation and tax increased by 8.0% at Rs.10743.1 million as against Rs.9945.9million in the previous year whereas Consolidated Profit before interest depreciationand tax increased by 1.2% at Rs.11243.3 million as against Rs.11109.7 million in theprevious year. The lower growth in profit was partly on account of increase in otherexpenses which includes Rs.263.1 million on account of net loss on fair valuation ofcurrent investments including Rs.380.1 million on account of fair valuation ofinvestment in real estate fund as per report of independent valuers. Depreciation andAmortisation expenses for the financial year ended 31st March 2018 also increasedconsiderably compared to previous year due to significant capital investments in newfacilities and other capital expenditures. As a result Standalone

Profit before tax grew by 4.5% over the previous year to Rs.9342.9 million andConsolidated Profit before tax was Rs.9259.8 million lower by 4.0% over the previousyear.

During the financial year the Standalone tax rate increased from 1.3% in previous yearto 23.4% and the Consolidated tax rate increased from 6.2% in previous year to 31.1%largely due to some of the manufacturing facilities losing their fiscal benefits and alsoone-o charges related to significant changes in the US corporate income tax system. ThusStandalone net profit after tax for the financial year ended 31st March 2018 declined by18.9% to Rs.7158.4 million over the previous year while the Consolidated net profit aftertax declined by 29.4% over the previous year to Rs.6384.2 million.

DIVIDEND

During the financial year 2017-18 Board of Directors declared and paid an interimdividend at Rs.6/- (Rupees Six only) per equity share of Rs.2/- (Rupees Two only) eachbeing 300% of paid up share capital on 9th February 2018. In addition your Directorsare pleased to recommend payment of Rs.7/- (Rupees Seven only) per equity share of theface value of Rs.2/- (Rupees Two only) each as final dividend for the financial year2017-18 for the approval of the Members at the ensuing Annual General Meeting (AGM). Ifapproved the total dividend (interim and final dividend) for the financial year 2017-18will be Rs.13/- (Rupees Thirteen only) per equity share of the face value of Rs.2/-(Rupees Two only) each as against the total dividend of Rs.15/- (Rupees Fifteen only) perequity share of the face value of Rs.2/- (Rupees Two only) each paid for the previousfinancial year.

As per the provisions of Regulation 43A of the SEBI (Listing Obligation and DisclosureRequirements) Regulations 2015

(hereinafter referred to as "SEBI LODR Regulations") top 500 listedcompanies based on the market capitalisation are required to formulate DividendDistribution Policy. In compliance with the said requirement the Company has formulatedits Dividend Distribution Policy which is available on the Company's website athttps://www.alkemlabs.com/admin/Photos/ Policies/977928327Dividend distribution policy.pdfThe said Policy is also annexed to this Report as Annexure A.

TRANSFER TO RESERVES

The Company has not transferred any amount to the General Reserve for the financialyear 2017-18.

SHARE CAPITAL

The paid up Equity Share Capital of the Company as on 31st March 2018 was Rs.239.1million. The Company has neither issued shares with differential rights as to dividendvoting or otherwise nor issued shares to the employees or Directors of the Company underany Scheme (including sweat equity shares).

DEPOSITS

The Company has not accepted any deposits from the public/ members under Section 73 ofthe Companies Act 2013 (hereinafter referred to as "the Act") read withCompanies (Acceptance of Deposits) Rules 2014 during the year under review. There are nodeposits which are outstanding as on 31st March 2018.

SUBSIDIARIES

As on 31st March 2018 the Company had 21 subsidiaries. The Company does not have anyjoint venture / associate company(ies) within the meaning of Section 2(6) of the Act.

Details of companies which have become or ceased to be subsidiary associates and jointventures of the Company during the year under review:

Name Details of Change Date of Change
Ascend Laboratories Ltd. Canada Incorporated as a wholly owned subsidiary in Canada 7th September 2017
Alkem Foundation India Acquired 100% stake in Non-profit Organisation owned by two of the Promoters of the Company and consequently became a wholly owned subsidiary in India 14th December 2017
Pharma Network SpA Chile Incorporated as a step-down subsidiary in Chile (being a wholly owned of the Company's wholly owned subsidiary Ascend Laboratories SpA) 27th March 2018

The Board of Directors of the Company had approved the liquidation of AlkemLaboratories (NIG) Limited ("Alkem Nigeria") the Company's wholly ownedsubsidiary in Nigeria. The procedure for liquidation was initiated during financial year2017-18 however Alkem Nigeria was liquidated on 6th May 2018. In view of the sameAlkem Nigeria has been included in the list of subsidiaries as on 31st March 2018.

Pursuant to the first proviso to Section 129(3) of the Act and Rule 5 and Rule 8(1) ofthe Companies (Accounts) Rules 2014 the salient features of financial statementsperformance and financial position of each subsidiary is given in Form AOC-1 as Annexure Bto this Report.

The Audited Financial Statements of the subsidiaries are available on the Company'swebsite at www.alkemlabs.com and are available for inspection by the Members at theRegistered Office of the Company during business hours on all working days as requiredunder

Section 136 of the Act. Any Member desirous of obtaining a copy of the said financialstatements may write to the Company Secretary at the Registered Office of the Company.

MANAGEMENT DISCUSSION AND ANALYSIS

A detailed report on the Management Discussion and Analysis is provided as a separatesection forming part of this Report.

CORPORATE GOVERNANCE

A detailed report on the Corporate Governance systems and practices of the Company isprovided as a separate section along with a certificate from the Statutory Auditorsconforming the Company's compliance with the conditions of Corporate Governance formingpart of this Report.

BUSINESS RESPONSIBILITY REPORT

As stipulated under Regulation 34 of SEBI LODR Regulations the Business ResponsibilityReport describing the initiatives taken by the Company from an environmental social andgovernance perspective is provided as a separate section forming part of this Report.

CORPORATE SOCIAL RESPONSIBILITY

The Company's CSR initiatives are as per our all-around enunciated Corporate SocialResponsibility (CSR) Policy. Our CSR program aims to address the immediate and long termneeds of the community and focus on where we can make the major impact on marginalisedsections of the society. The Company's CSR strategy involves a multi-sectoral inclusiveapproach to focus on community needs. It strives to improve the well-being of ourcommunities by focusing on education vocational training healthcare and sanitationenvironmental concerns and rural development. The Company implements these activitiesdirectly or through strategic trust-based partnerships with various NGOs. During thefinancial year 2017-18 the Company has addressed the requirements of local communities inthe vicinity of its manufacturing facilities and R&D centers through focused projectsin the areas of education health and hygiene environment and community development.

Details about the Company's CSR Policy and initiatives undertaken by the Company duringfinancial year 2017-18 are outlined in the Report on CSR Activities annexed to this Reportas Annexure C.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Appointments

As per the provisions of Section 161 read with Section 149 of the Act and the Articlesof Association of the Company Dr. Dheeraj Sharma (DIN 07683375) was appointed as anAdditional Director designated as Independent Director of the Company w.e.f. 26th May2017. Thereafter at the AGM held on 8th September 2017 Dr. Dheeraj Sharma was appointedas Independent Director of the Company for a term of 5 years as per the provisions ofSection 149 and Section 152 of the Act.

The terms and conditions of appointment of Independent Directors are posted on theCompany's website.

Mr. Sandeep Singh (DIN: 01277984) Joint Managing Director of the Company had beenappointed and re-designated as the Managing Director of the Company for a period of 5(Five) years w.e.f. 17th October 2017 upto 16th October 2022 which was approvedby Shareholders of the Company on 6th January 2018 through Postal Ballot.

Resignations/Retirements

Mr. Mangaldas Chhaganlal Shah (DIN 01353574) resigned as an Independent Director fromthe Board of the Company with effect from 17th May 2017. The Board places on record itsappreciation for his valuable contribution during his tenure as a Director of the Company.

Directors liable to Retirement by Rotation

Mr. Mritunjay Kumar Singh (DIN 00881412) is liable to retire by rotation at the ensuingAGM pursuant to the provisions of Section 152 of the Act read with the Companies(Appointment and Qualification of Directors) Rules 2014 and the Articles of Associationof the Company and being eligible he has offered himself for re-appointment. Appropriateresolution for his re-appointment is included in the Notice of AGM for seeking approval ofMembers. The Directors recommend his re-appointment for your approval.

Particulars in pursuance of Regulation 36 of the SEBI LODR Regulations read withSecretarial Standard – 2 on General Meetings relating to Mr. Mritunjay Kumar Singhare given in the Notice of AGM.

Key Managerial Personnel

During the year under review Mr. Prabhat Agrawal Chief Executive Officer hadtendered his resignation on 30th October 2017 from the post of Chief Executive Officer& Key Managerial Personnel of the Company and continued with the Company upto 31stMarch 2018 for smooth transition of the responsibilities to senior management.

Mr. Sandeep Singh Managing Director Mr. Rajesh Dubey President Finance and ChiefFinancial Officer and Mr. Manish Narang President - Legal Company Secretary andCompliance Officer are the Key Managerial Personnel of the Company as on 31st March 2018in accordance with the provisions of Section 203 of the Act read with Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014.

Independent Directors

The Independent Directors hold office for a fixed term of 5 (Five) years and are notliable to retire by rotation.

In accordance with Section 149(7) of the Act each Independent Director has given awritten declaration to the Company confirming that he/she meets the criteria ofIndependence as mentioned under Section 149(6) of the Act and Regulation 16(1) (b) of SEBILODR Regulations.

The terms and conditions of appointment of the Independent Directors are posted onCompany's website.

Familiarisation Program

In compliance with the requirements of SEBI LODR Regulations the Company has put inplace a framework for Directors' Familiarisation Programme to familiarise them with theirroles rights and responsibilities as Directors the working of the Company nature of theindustry in which the Company operates business model etc. The details of thefamiliarisation programmes conducted during the financial year under review are explainedin the Corporate Governance Report. The same are also available on the Company's websiteat https://www.alkemlabs.com/corporate-governance

Annual Evaluation of Board's Performance

Pursuant to the provisions of the Act and the SEBI LODR Regulations the Board hascarried out the annual performance evaluation of its own performance the Directorsindividually as well as the evaluation of the working of its Committees. The criteriaapplied in the evaluation process is explained in the Corporate Governance Report.

The Independent Directors at a separate meeting held on 7th November 2017 evaluatedperformance of Non- Independent Directors performance of the Board as a whole andperformance of the Chairpersons of the Company.

Remuneration Policy

The Company follows a policy for selection and appointment of Directors SeniorManagement and their remuneration which is available on the Company's website athttps://www.alkemlabs.com/admin/Photos/Policies/1378936118Nomination-and-Remuneration-Policymodified%2027052016.pdf. The said policy is annexed to this Report as Annexure D.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The disclosure pertaining to remuneration and other details as required under Section197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 is annexed to this Report as Annexure E.

Further a statement showing the names and other particulars of top ten employees interms of remuneration drawn and of employees drawing remuneration in excess of the limitsrequired under Section 197(12) of the Act read with Rule 5(2) and Rule 5(3) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 forms part ofthis Report. However in terms of first proviso to Section 136(1) of the Act the AnnualReport and annual financial statements are being sent to the Members and others entitledthereto excluding the aforesaid information. The said information is available forinspection by the Members at the Registered Office of the Company during the businesshours on all working days up to the date of AGM and also shall be provided to any Memberon a written request to obtain a copy of the same to the Company Secretary.

NUMBER OF MEETINGS OF THE BOARD

The Board of Directors met 5 (Five) times during the financial year 2017-18. Thedetails of the Board meetings and the attendance of Directors thereat are provided in theCorporate Governance Report which forms part of this Report.

In terms of requirements of Schedule IV of the Act a separate meeting of IndependentDirectors was also held on 7th November 2017 to review the performance of Non-IndependentDirectors (including the Chairpersons) the entire Board and quality quantity andtimelines of the flow of information between the Management and the Board.

COMMITTEES OF THE BOARD

Audit Committee

The Audit Committee comprises of Mr. Ranjal Laxmana Shenoy Chairman and Mr. SandeepSingh (inducted as member w.e.f. 10th November 2017) Mr. Mritunjay Kumar Singh Ms.Sudha Ravi and Ms. Sangeeta Singh as Members. The brief terms of reference of the AuditCommittee and the particulars of meetings held and attendance thereat are mentioned in theCorporate Governance Report which forms part of this Report.

Nomination and Remuneration Committee

The Nomination and Remuneration Committee comprises of Mr. Arun Kumar Purwar Chairmanand Mr. Basudeo N. Singh Mr. Akhouri Maheshwar Prasad and Ms. Sangeeta Singh as Members.The brief terms of reference of the Nomination and Remuneration Committee and theparticulars of meetings held and attendance thereat are mentioned in the CorporateGovernance Report which forms part of this Report.

Corporate Social Responsibility Committee

The Corporate Social Responsibility Committee comprises of Mr. Ranjal Laxmana ShenoyChairman and Mr. Dhananjay Kumar Singh Mr. Balmiki Prasad Singh and Mr. Mritunjay KumarSingh (inducted as member w.e.f. 30th May 2018) as Members. Mr. Sandeep Singh was amember of this Committee upto 30th May 2018. The brief terms of reference of theCorporate Social Responsibility Committee and the particulars of meetings held andattendance thereat are mentioned in the Corporate Governance Report which forms part ofthis Report.

Stakeholders' Relationship Committee

The Stakeholders' Relationship Committee comprises of Mr. Ranjal Laxmana ShenoyChairman and Mr. Dhananjay Kumar Singh Mr. Mritunjay Kumar Singh (inducted as memberw.e.f. 30th May 2018) and Mr. Akhouri Maheshwar Prasad as Members. Mr. Sandeep Singh wasa member of this Committee upto 30th May 2018. The brief terms of reference of theStakeholders' Relationship Committee and the particulars of meetings held and attendancethereat are mentioned in the Corporate Governance Report which forms part of this Report.

Risk Management Committee

The Risk Management Committee comprises of Mr. Dhananjay Kumar Singh Chairman and Mr.Mritunjay Kumar Singh Mr. Sandeep Singh Ms. Sudha Ravi and Dr. Dheeraj Sharma asMembers. The brief terms of reference of the Risk Management Committee are mentioned inthe Corporate Governance Report which forms part of this Report.

RISK MANAGEMENT

The Company's Board of Directors has overall responsibility for the establishment andoversight of the Company's risk management framework. The Company has a Board approvedRisk Management Policy. The Board of Directors has constituted a Risk Management Committeewhich is delegated with the responsibility of overseeing various strategic operationaland financial risks that the organisation faces along with assessment of risks theirmanagement and mitigation procedures. A detailed analysis of the business risks andopportunities is given under Management Discussion and Analysis.

DIRECTORS' RESPONSIBILITY STATEMENT

To the best of their knowledge and belief your Directors confirm that:

(a) in the preparation of the annual accounts for the financial year ended 31st March2018 the applicable accounting standards have been followed along with proper explanationrelating to material departures if any;

(b) they have selected such accounting policies and applied consistently and madejudgements and estimates that are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company as at 31st March 2018 and of the profit ofthe Company for the year ended on that date;

(c) they have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

(d) they have prepared the annual financial statements on a going concern basis;

(e) they have laid down internal financial controls to be followed by the Company andthat such internal financial controls are adequate and operating effectively; and

(f) they have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively.

SECRETARIAL STANDARDS

The Directors state that applicable Secretarial Standards i.e. SS-1 relating to‘Meetings of the Board of Directors' and SS-2 relating to ‘General Meetings'have been duly followed by the Company.

AUDITORS AND AUDITORS' REPORT

Statutory Auditors

Pursuant to the provisions of Section 139 of the Act and the Companies (Audit andAuditors) Rules 2014 (including any statutory modification(s) or re-enactment(s) thereoffor the time being in force) M/s BSR & Co. LLP (Firm Registration No:101248W/W-100022) Chartered Accountants the Statutory Auditors of the Company wereappointed pursuant to the resolution passed by the Members at the Fortieth (40th) AGM heldon 18th August 2014 for a term of five consecutive years. As per the provisions ofSection 139 of the Act the appointment of Auditors is required to be rati ed by Membersat every AGM. However in accordance with the Companies Amendment Act 2017 enforced on7th May 2018 by the Ministry of Corporate Affairs the appointment of Statutory Auditorsis not required to be rati ed at every AGM.

M/s BSR & Co. LLP Statutory Auditors have confirmed that they are not disqualifiedfrom continuing as Auditors of the Company for the financial year 2018-19.

The Auditors' Report for financial year ended 31st March 2018 does not contain anyqualification reservation or adverse remark.

Cost Auditor

Pursuant to the provisions of Section 148 of the Act and the Rules made thereunder readwith notifications/ circulars issued by the Ministry of Corporate Affairs fromtime-to-time and as per the recommendation of the Audit Committee the Board of Directorsat its meeting held on 26th May 2017 had appointed Mr. Suresh D. Shenoy Cost Accountant(Membership No. 8318) as the Cost Auditor of the Company for the financial year 2017-18to conduct the audit of the cost records of the Company. The Company had also receivedcertificate from the Cost Auditor certifying his independence and arm's lengthrelationship with the Company. A resolution for rati cation of the remuneration payable tothe Cost Auditor is included in the Notice of AGM for seeking approval of Members. TheCost Audit Report will be filed within the period stipulated under the Act.

Secretarial Auditors

Pursuant to the provisions of Section 204 of the Act read with the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board of Directorshad appointed M/s. Manish Ghia & Associates Practicing Company Secretaries(Membership No. F6252 COP No. 3531) to conduct the Secretarial Audit of the Company forthe financial year 2017- 18. The Secretarial Audit Report is annexed to this Report asAnnexure F. The said Report does not contain any qualification reservation or adverseremark.

EXTRACT OF ANNUAL RETURN

As required under Section 92(3) of the Act and the Rules made thereunder extract ofthe Annual Return in Form MGT-9 is annexed to this Report as Annexure G.

RELATED PARTY TRANSACTIONS

All the Related Party Transactions entered into during financial year 2017-18 by theCompany were at arm's length basis in the ordinary course of business and in compliancewith the applicable provisions of the Act and the SEBI LODR Regulations and are inconformity with the Company's Policy on Related Party Transactions.

During the financial year 2017-18 the Company did not enter into any material relatedparty transactions i.e. transactions exceeding ten percent of the consolidated turnoveras per the last audited financial statements. Accordingly the disclosure of related partytransactions as required under Section 134(3)(h) of the Act in Form AOC-2 is notapplicable.

The Related Party Transactions Policy as approved by the Board is uploaded on theCompany's website at https://www. alkemlabs.com/admin/Photos/Policies/84051713915915Policyon Related Party Transactions.pdf

PARTICULARS OF LOANS/GUARANTEES GIVEN AND INVESTMENTS MADE AND SECURITIES PROVIDED

The particulars of loans guarantees investments and securities provided covered underthe provisions of Section 186 of the Act have been disclosed in the Notes to the financialstatements forming part of the Annual Report.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

Pursuant to the provisions of Section 177(9) of the Act the Board of Directors of theCompany has framed the Vigil Mechanism / Whistle Blower Policy for Directors and employeesof the Company. Under the said policy provisions have been made to safeguard persons whouse this mechanism from victimisation. The policy also provides access to the Chairpersonof the Audit Committee under certain circumstances. The Whistle Blower Policy is uploadedon the website of the Company at https://www.alkemlabs.com/admin/Photos/Policies/8503638853592Whistle Blower Policy.pdf

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

The Company has adopted a policy in line with the provisions of Sexual Harassment ofWomen at Workplace (Prevention Prohibition and Redressal) Act 2013 and the Rules madethereunder.

Internal Complaints Committees have been set up at the head office of the Company aswell as at all the Company's plants and R&D Centers to redress complaints received onsexual harassment. During the financial year 2017-18 the Company had not received anycomplaint of sexual harassment.

DISCLOSURES UNDER THE ACT

Change in Nature of Business if any:

During the financial year 2017-18 there was no change in the nature of business of theCompany.

Material Changes and Commitments affecting the financial position of the Company:

There are no material changes and commitments which have occurred between the end ofthe financial year and the date of the Report which have affected the financial positionof the Company.

Significant and Material Orders:

There are no significant and material orders passed by the regulators or courts ortribunals during the year impacting the going concern status and the Company's operationsin future.

Reporting of Frauds by Auditors:

There were no frauds reported by Auditors under Section 143(12) of the Act.

DETAILS ON INTERNAL FINANCIAL CONTROLS RELATED TO FINANCIAL STATEMENTS

The Company has designed and implemented a process driven framework for InternalFinancial Controls (IFC) as mandated under the Act. The Company's policies guidelines andprocedures provide for adequate checks and balances and are meant to ensure that alltransactions are authorised recorded and reported correctly.

During the financial year under review Internal Auditors of the Company with theexternal audit consultants have reviewed the effectiveness and efficiency of these systemsand procedures. As per the said assessment Board is of the view that IFC operateseffectively and no material weakness exists.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information on conservation of energy technology absorption and foreign earningsand outgo as stipulated under Section 134(3)(m) of the Act and the Rules framed thereunderis annexed herewith as Annexure H to this Report.

ACKNOWLEDGEMENT

Your Directors would like to express sincere gratitude to all valuable stakeholders ofthe Company viz. the Central and State Government Departments Organisations Agenciesour customers shareholders dealers vendors banks medical fraternity patients andother business associates for their excellent support and co-operation extended by themduring the financial year under review.

The Board of Directors also places on record its appreciation for the significantcontribution made by the employees of the Company through their dedication hard work andunstinted commitment.

For and on behalf of the Board
Alkem Laboratories Limited
Samprada Singh
Place: Mumbai Chairman Emeritus
Date: 30th May 2018 DIN: 00760279

Annexure A

DIVIDEND DISTRIBUTION POLICY OF ALKEM LABORATORIES LIMITED

PREAMBLE

As per Regulation 43A of SEBI (LODR) Regulations 2015 the top five hundred listedentities based on market capitalisation (calculated as on March 31 of every financialyear) shall formulate a dividend distribution policy which shall be disclosed in theirannual reports and on their websites. Alkem Laboratories being one of the top five hundredlisted companies as per the market capitalisation frames this policy to comply with theSEBI (LODR) Regulations 2015.

OBJECTIVE

The objective of the policy is to broadly specify the external and internal factorsincluding financial parameters that shall be considered while declaring dividend and thecircumstances under which the shareholders of the Company may or may not expect dividend.

PHILOSOPHY

The Company is deeply committed to driving superior value creation for all itsstakeholders. The Company believes that driving growth creates maximum shareholder valueand thus it would first like to deploy its profits to fund its working capitalrequirements capital expenditure requirements reducing debt allocate reserves forinorganic growth opportunities and thereafter distribute the surplus profits in the formof dividend to the shareholders.

DEFINITIONS

‘Company' means Alkem Laboratories Ltd.

‘Board' or ‘Board of Directors' means Board of Directors of theCompany ‘Dividend' means Dividend as defined under Companies Act 2013 ‘Policyor this Policy' means the Dividend Distribution Policy ‘SEBI (LODR)Regulations' means the Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015 together with the circulars issued thereunderincluding any statutory modification(s) or re-enactment(s) thereof for the time being inforce ‘Subsidiary' shall mean Subsidiary of the Company as defined under theCompanies Act 2013

PARAMETERS FOR DECLARATION OF DIVIDEND

Internal Factors / Financial Parameters - The Board of Directors of the Company wouldconsider the following financial parameters before declaring or recommending dividend toshareholders The Board of Directors of the Company shall declare dividend depending on theconsolidated net profit after tax earned by it during the financial year

The Board of Directors of the Company would consider its working capital requirementsR&D expenditure and capital expenditure requirements for future growth beforedeclaring the dividend The Board of Directors of the Company shall take into accountresources required to fund acquisitions and / or new businesses and additional investmentrequired in its subsidiaries/associates of the Company The dividend declaration would alsodepend upon the liquidity position of the Company Outstanding borrowings and the cashflow required to meet contingencies The Board of Directors of the Company shall also takeinto account past dividend trends of the Company

External Factors

Dividend declared would be in compliance with prevailing legal requirements regulatoryconditions or restrictions laid down under the Applicable Laws including tax laws

The Board of Directors of the Company would consider dividend pay-out ratios ofcompanies in the same industry

Circumstances under which the shareholders may or may not expect Dividend

The Company shall not recommend dividend if it is of the opinion that it is financiallynot prudent to do so. The shareholders of the Company may not expect Dividend under thefollowing circumstances: In case the Company is undertaking significant expansion whichwould require higher allocation of resources If the Company requires significant amount ofworking capital to fund its future growth In case the Company proposes to utilise surpluscash for buy-back of securities In the event of inadequacy of profits or whenever theCompany has incurred losses The Company may declare dividend out of the profits of theCompany for the year or out of the profits for any previous year or years or out of thefree reserves available for distribution of Dividend after having due regard to theparameters laid down in this Policy.

Modi cation of the Policy

The Board is authorised to change/amend this policy from time to time at its solediscretion and/or in pursuance of any amendments made in the Companies Act 2013 theRegulations etc.

Disclosure

The Company shall make appropriate disclosures as required under the SEBI Regulations.

Annexure B

Form AOC 1 Pursuant to first proviso to sub-section (3) of Section 129 read with Rule 5of Companies (Accounts) Rules 2014) Statement Containing Salient Features of theFinancial Statement of Subsidiaries Part "A": Subsidiaries

Sr.No. Name of Subsidary

Date since when subsidiary was acquired / incorporated (became subsidiary)

Reporting period of the subsidiary(if different from the holding company's reporting period)

Reporting Currency

Exchange Rate as on the last date of relevant financial year (in Rs.)

Share Capital

Other Equity

Total Assets

Total Liabilities

Investments

Turnover

Profit before taxation

Provision for taxation

Profit after taxation

Proposed Dividend

Extent of shareholding (in %)

1 Pharmacor Pty Limited 30.06.2009 N.A. AU$ 49.8949 88.1 18.5 712.7 606.1 - 1201.1 59.6 25.7 33.9 - 100.00%
2 Cachet Pharmaceuticals Private Limited 27.03.2015 N.A. INR N.A. 1.8 432.5 2239.1 1804.8 0.1 3116.0 (170.3) (54.8) (115.5) - 58.80%
3 Ascend Laboratories SpA 19.07.2011 N.A. CLP 0.1072 281.0 113.4 1011.3 617.0 - 718.0 22.3 18.6 3.7 - 100.00%
4 Enzene Biosciences Limited 04.11.2011 N.A. INR N.A. 190.3 1509.6 1885.6 185.7 - 52.9 (404.3) - (404.3) - 99.98%
5 Alkem Pharma GmbH$ 10.11.2008 N.A. EURO 79.9708 1.7 (5.8) 0.2 4.4 - - (1.9) - (1.9) - 100.00%
6 Indchemie Health Specialities Private Limited 30.03.2015 N.A. INR N.A. 2.5 2108.3 3378.0 1267.1 16.9 3555.6 402.8 149.4 253.4 1600% 51.00%
7 The PharmaNetwork LLP 14.08.2012 N.A. TENGE 0.2031 157.6 (8.7) 198.1 49.2 - 223.2 15.0 5.3 9.7 - 100.00%
8 Alkem Laboratories Korea Inc$ 07.08.2012 N.A. WON 0.0611 0.1 0.0 0.1 - - - - - - - 100.00%
9 Ascend Laboratories Sdn Bhd$ 13.12.2010 N.A. RM 16.7944 0.0 0.0 1.3 1.3 - - - - - - 100.00%
10 S & B Holdings B.V. 17.06.2009 N.A. EURO 79.9708 2897.2 (1301.1) 2455.8 859.7 2054.8 - 75.0 584.4 (509.4) - 100.00%
11 Alkem Laboratories (NIG) Limited 17.09.2007 N.A. NAIRA 0.1784 9.4 (64.3) 0.0 55.0 - - 72.7 - 72.7 - 100.00%
12 Pharmacor Limited$ 15.05.2012 N.A. KES 0.6380 0.1 (0.0) 0.0 - - - (0.0) - (0.0) - 100.00%
13 Alkem Laboratories Corporation 07.11.2008 N.A. PESO 1.2428 139.7 (387.3) 109.5 357.1 - 125.3 (103.8) 11.3 (115.1) - 100.00%
14 S & B Pharma Inc. 25.01.2012 N.A. USD 64.9180 0.0 1076.7 4029.0 2952.3 - 1781.2 (288.3) - (288.3) - 100.00%
15 Alkem Laboratories (Pty) Limited 26.05.2008 N.A. RAND 5.4827 68.8 19.7 116.8 28.2 - 190.3 9.7 2.7 7.0 - 100.00%
16 ThePharmaNetwork LLC 15.07.2010 N.A. USD 64.9180 578.9 (2314.0) 1224.5 2959.6 703.1 - (646.5) - (646.5) - 100.00%
17 Ascend Laboratories LLC 15.07.2010 N.A. USD 64.9180 703.1 6100.6 9512.3 2708.6 - 12137.0 1471.0 - 1471.0 - 100.00%
18 Ascend Laboratories (UK) Limited 06.08.2014 N.A. GBP 91.0885 9.9 15.2 363.9 338.8 - 357.6 11.6 2.2 9.4 - 100.00%
19 Alkem Foundation$ 14.12.2017 N.A. INR N.A. 0.1 (0.1) - - - - - - - - 100.00%
20 Ascend Laboratories Limited$ 07.09.2017 N.A. CAD 50.3586 - - - - - - - - - - 0*
21 Pharma Network SpA$ 27.03.2018 N.A. CLP 0.1072 - - - - - - - - - - 100.00%#

* Subsidiary pursuant to Sec 2(87)(ii)

$ Subsidiary yet to commence operations

# Subscribed capital not paid-up

For and on behalf of the Board of Directors of Alkem Laboratories Limited

CIN: L00305MH1973PLC174201
Samprada Singh B.N. Singh Sandeep Singh
Chairman Emeritus Executive Chairman Managing Director
DIN 00760279 DIN 00760310 DIN 01277984
D.K.Singh B.P. Singh M.K. Singh
Joint Managing Director Executive Director Executive Director
DIN 00739153 DIN 00739856 DIN 00881412
Rajesh Dubey Manish Narang P.V. Damodaran
President Finance & Chief Financial Officer President - Legal Company Secretary & Compliance Officer Sr.VP - Business Finance
Place: Mumbai
Date: 30th May 2018

Annexure D

POLICY FOR NOMINATION & REMUNERATION COMMITTEE OF ALKEM LABORATORIES LIMITED

Alkem Laboratories Limited ("Company") has constituted a Nomination andRemuneration Committee ("Committee") in its Board meeting held on 30th January2015 as per the terms and conditions provided in Section 178 of the Companies Act 2013and other applicable provisions. As per the provisions the Company is required to frame apolicy on nomination and remuneration of Directors Key Managerial Personnel (KMP) SeniorManagement and other employees of the Company.

1. OBJECTIVE OF THE POLICY

The policy is framed with the objective(s):

1. That based on the Company's size and financial position and trends and practices onremuneration prevailing in peer companies in the Industry the level and composition ofremuneration is reasonable and sufficient to attract retain and motivate directors andtalented managerial personnel of the quality required to run the Company successfully andto ensure long term sustainability and create competitive advantage.

2. That the remuneration to Directors Key Managerial Personnel (KMP) and otheremployees of the Company involves a balance between fixed and incentive pay reflectingshort and long term performance objectives appropriate to the working of the Company andits goals.

2. FUNCTIONS OF THE NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee shall inter-alia perform the followingfunctions:

1. Identify persons who are qualified to become Directors and employees who may beappointed in key managerial position senior management in accordance with the criterialaid down recommend to the Board their appointment remuneration and removal includingsuccession planning.

2. Ensure that the Board comprises of a balanced combination of Executive Directors andNon-Executive Directors and also the Independent Directors including Board diversity.

3. Devise framework to ensure that Directors are inducted through suitablefamiliarisation process alongwith criteria for evaluation of Independent Directors and theBoard and to provide for reward(s) linked directly to their effort performance.

4. Decide / approve details of fixed components and performance linked incentives alongwith the performance criteria.

5. Such other functions as may be decided in accordance with the Companies Act 2013and the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 asamended from time to time.

The Chairman of the Nomination and Remuneration committee could be present at theAnnual General Meeting to answer the shareholders' queries. However it would be up tothe Chairman to decide who should answer the queries.

3. APPLICABILITY

This Policy in applicable to:

1. Directors viz. Executive Non-executive and Independent

2. Key Managerial Personnel ("KMP")

3. Senior Management Personnel

4. Other Employees of the Company

4. MATTERS RELATING TO THE REMUNERATION PERQUISITES FOR THE WHOLE TIME /EXECUTIVE / MANAGING DIRECTOR

1. The remuneration / compensation / profit-linked commission etc. to the Whole-time/Executive/ Managing Directors will be recommended by the Committee and approved by theBoard. The remuneration / compensation / profit-linked commission etc. shall be inaccordance with the percentage / slabs / conditions laid in the Companies Act 2013 andshall be subject to the prior / post approval of the shareholders of the Company andCentral Government wherever required.

2. If in any financial year the Company has no profits or its profits are inadequatethe Company shall pay remuneration to its Whole Time Director(s) in accordance with theprovisions of Schedule V of the Companies Act 2013 and if it is not able to comply withsuch provisions then with the prior approval of the Central Government.

3. Increments to the Whole Time Director(s) should be within the slabs approved by theshareholders. Increments will be effective 1st April in respect of a

Whole Time Director as well as in respect of other employees of the Company unlessotherwise decided.

5. REMOVAL

The Committee may recommend to the Board with reasons recorded in writing removal ofa Director KMP or one level below KMP subject to the provisions of the Companies Act2013 and all other applicable Acts Rules and Regulations if any.

6. RETIREMENT

The Director KMP and one level below the KMP shall retire as per the applicableprovisions of the Regulations and the prevailing policy of the Company. Employment of theservices of the Director KMP Senior Management Personnel as consultants after theirretirement would be at the sole discretion of the Board.

7. REMUNERATION TO NON EXECUTIVE / INDEPENDENT DIRECTOR

7.1. Sitting Fees

The Resident Non-Executive Independent Directors of the Company shall be paid sittingfees as per the applicable Regulations and no sitting fee is to be paid to Non-residentNon-Executive Directors. The quantum of sitting fees will be determined as per therecommendation of the Nomination and Remuneration Committee and approved by the Board ofDirectors of the Company.

7.2. Profit-linked Commission

The profit-linked Commission shall be paid within the monetary limit approved by theshareholders of the Company subject to the same not exceeding 2% of the net profits of theCompany computed as per the applicable provisions of the Regulations.

7.3. Stock Options

An Independent Director shall not be entitled to any stock option of the Company.

8. REMUNERATION TO KMP SENIOR MANAGEMENT PERSONNEL AND OTHER EMPLOYEES

The KMP Senior Management Personnel and other employees of the Company shall be paidmonthly remuneration as per the Company's HR policies and / or as may approved by theCommittee. The break-up of the pay scale and quantum of perquisites including employer'scontribution to PF pension scheme medical expenses club fees etc. shall be as per theCompany's HR policies.

The Chief Executive Officer of the Company will make organisation-wide annualpresentation(s) before the Committee which would have requisite details setting out theproposed performance bonus payouts for the current financial year as well as the proposedincrements for the next financial year. The Committee shall peruse and approve the sameunless required under relevant regulations to refer the same to the Board of Directorsand / or Shareholders of the Company.

If the remuneration of KMPs or any other officer is to be specifically approved by theCommittee and / or the Board of Directors under any Regulations then such approval willbe accordingly sought.

This Remuneration Policy shall apply to all future / continuing employment /engagement(s) with the Company. In other respects the Remuneration Policy shall be ofguidance for the Board. Any departure from the policy shall be recorded and reasoned inthe Committee and Board meeting minutes. The Company reserves its right to amend or modifythis Policy in whole or in part at any time without assigning any reason whatsoever.

Annexure E

STATEMENT OF PARTICULARS AS PER SECTION 197 12 OF THE COMPANIES ACT 2013 READ WITHRULE 5 1 OF THE COMPANIES APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL RULES2014.

Sl. No. Name of the Director and Designation % increase in the remuneration in the financial year ended 31st March 2018 Ratio of the remuneration of each Director to the median remuneration of the employees
Non-Executive Directors
1. Mr. Samprada Singh Chairman Emeritus 0.4% 483.2
Independent Directors
2. Mr. Akhouri Maheshwar Prasad Independent Director 54.5% 5.8
3. Mr. Ranjal Laxmana Shenoy Independent Director 38.5% 6.2
4. Mr. Arun Kumar Purwar Independent Director 41.7% 5.8
5. Ms. Sudha Ravi Independent Director 41.7% 5.8
6. Ms. Sangeeta Singh Independent Director 50.0% 6.2
7. Dr. Dheeraj Sharma Independent Director# NA 5.5
Executive Directors
8. Mr. Basudeo N. Singh Executive Chairman 0.3% 474.3
9. Mr. Sandeep Singh Managing Director 32.3% 150.0
10. Mr. Dhananjay Kumar Singh Joint Managing Director 20.1% 143.5
11. Mr. Balmiki Prasad Singh Executive Director 16.5% 108.6
12. Mr. Mritunjay Kumar Singh Executive Director 20.2% 132.5

#Appointed w.e.f. 26th May 2017

Sl. No. Name of the Key Managerial Personnel and Designation % increase in the remuneration in the financial year ended 31st March 2018
1 Mr. Prabhat Agrawal Chief Executive Officer& 48.5%*
2 Mr. Rajesh Dubey Chief Financial Officer 61.3%$
3 Mr. Manish Narang Company Secretary 46.1%#

&Resigned w.e.f. 31st March 2018. *variation due to severance pay $variation dueto one-time incentive payout and base pay correction #variation due to base pay correctioni. During the financial year ended 31st March 2018 the median remuneration of employeesincreased by 17.7%.

ii. As on 31st March 2018 the Company had 13270 permanent employees on its rolls.

iii. During the financial year 2017-18 there was an average 14.3% increase in thesalaries of employees (including KMP) other than the managerial personnel as againstincrease in managerial remuneration by 7.9% which were in line with the industry paylevels.

iv. We afirm that the remuneration paid is as per the Remuneration Policy of theCompany.

For and on behalf of the Board
Alkem Laboratories Limited
Samprada Singh
Place: Mumbai Chairman Emeritus
Date: 30th May 2018 DIN: 00760279

Annexure H

INFORMATION ON CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGEDETAILS

[Pursuant to the Companies (Accounts) Rules 2014]

A CONVERSATION OF ENERGY:

(1) Energy Conservation Measures taken:

Energy Conservation continues to receive priority within the Company. The continuousmonitoring of the energy consumptions across the Company's locations has resulted inimprovement in maintenance systems and reduction in distribution losses.

Steps taken for Energy Conservation during financial year 2017-18 are as follows:

1. Centralised Solar Street Light installed at Daman Plant and replaced CFL lights withLED lights across plants for power saving.

2. Installed Variable Frequency Drive (VFD) across Plants for power saving.

3. Replaced Boiler fuel from High Speed Diesel to Furnace Oil at all manufacturingfacilities at Sikkim.

4. Water condensate recovery system and Steam Straps installed for reduction in steamconsumption.

5. Replacement of Cooling Tower CT Pump Pressure Power Packed Pump Chilled watercoil system to save power and fuel consumption.

6. Installed additional Capacitor Bank and Air Heater at Sikkim and Root blower atMandva to reduce power consumption.

(2) Steps taken by the Company for utilising the alternate sources of energy:

Power generation via solar panels for captive consumption at Mandva and Taloja.Centralised Solar Street Light installed at factory peripherals Daman Plant.

(3) The capital investment on Energy Conservation equipment:

(Rs.in million)
Sr. No. Particulars Amount
1. Cooling Tower 1.5
2. LED Lights 2.0
3. MEE Cooling Tower Pump 0.3
4. Dry Vacuum Pump 0.8
5. Process Pumps 0.3
6. Root Blower 0.1
7. Steam Straps 5.0
8. Installation of Capacitor Bank 0.2
9. Water Condensate Recovery System 0.1
10. Solar Street Light 0.7
11. Variable Frequency Drive 6.5
12. Boiler in Utility 0.3
13. Chiller in Utility 0.2
Total 18.0

B TECHNOLOGY ABSORPTION:

1. E orts in brief made towards technology absorption: i. Development andpatenting of new molecular forms and methods of synthesis.

ii. Development of new drug delivery systems.

2. Benefits derived as a result of the above efforts: i. Improvement in operationalefficiency through reduction in batch hours increase in batch sizes better solventrecovery and simpli cation of processes.

ii. Meeting norms of external regulatory agencies to facilitate more exports.

iii. Maximum utilisation of indigenous raw materials.

3. In case of imported technology (imported during the last 3 years reckonedfrom the beginning of the financial year): (i) Granurex GXR-95 (the conical rotor insert):

(a) The details of technology imported: The Company imported this technology from USA.This equipment is manufactured by Freund Vector and is used for the powder layering onpellets. This technology is useful in achieving drug layering at much faster rate ascompared to conventional techniques which in turn increases production efficiency;

(b) The year of import: 2015-16;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

(ii) High Speed Rotary Tablet Press Courtoy Performa™ P with MUPS feeding system:

(a) The details of technology imported: The Company imported this press to increaseprocess yield and enhance the tablet quality an innovative new MUPS production methodwhich works on a continuous dosing blending and compression system. This technologyincreases the production efficiency and reduces the product quality risks;

(b) The year of import: 2015-16;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

(iii) Korsch Compression Machine:

(a) The details of technology imported: Compression Machine which is monolayer as wellas bilayer;

(b) The year of import: 2015-16;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

(iv) Gea Compression Machine:

(a) The details of technology imported: Gea Compression Machine for infusion of microtablet into capsule for min tablet of 2.2 mm diameter;

(b) The year of import: 2015-16;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

(v) Bio-tech Filling Machine:

(a) The details of technology imported: The Company imported this machine from Italy.This equipment is manufactured by Mar Italy and is used for ling of bio-tech product inpre-fill syringe and cartridge. It is useful in achieving ling with high accuracy insterile conditions;

(b) The year of import: 2016-17*;

(c) Whether the technology has been fully absorbed: No

(d) If not areas where absorption has not taken place and the reasons thereof: Themachine is under final installation stage for production.

*Installation process initiated in 2017-18.

(vi) Software Based Material Dispensing System:

(a) The details of technology imported: The Company imported this technology from USA.This equipment is manufactured by Mettler Toledo and is used for dispensing of material.The technology is useful in achieving high accuracy for batch at micro gram level ascompared to conventional gram techniques. This has led to higher accuracy across thebatches of the same product;

(b) The year of import: 2017-18;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

(vii) Micro uidiser - M7125:

(a) The details of technology imported: The Company imported this machinery fromCanada. It is manufactured by IDEX Micro uidix and is used for the suspension and particlesize reduction at ne micro-level for liquid oral. This technology is useful in achievingsuspension homogenising mixing of particles at much faster rate as compared toconventional liquid particle reduction technique which in turn increases the productefficiency and yield;

(b) The year of import: 2017-18;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

(viii) Form Fill Seal Machine Model: TYPE 360

(a) The details of technology imported: The Company imported this technology fromSwitzerland Europe. This equipment is manufactured by M/S Rommelag

AG and is used for the storage and handling of intravenous uid. The technology isuseful in achieving higher rate of sterile accuracy in closed pack.

(b) The year of import: 2017-18;

(c) Whether the technology has been fully absorbed: Yes

(d) If not areas where absorption has not taken place and the reasons thereof: N.A.

4. Expenditure on R & D:

(Rs.In Million)
Particulars 2017-18 2016-17
(i) Capital 188.5 265.6
(ii) Recurring 3008.6 (excluding depreciation of Rs.133.9 Million) 2763.0 (excluding depreciation of 123.6 Million)
Total 3197.2 3028.6
Total R & D expenditure as percentage to total turnover 6.03% 6.49%

C FOREIGN EXCHANGE EARNING AND OUTGO:

(Rs.In Million)
2017-18 2016-17
Foreign Exchange earned 11258.8 8410.0
Foreign Exchange used 2102.5 1903.2

 

For and on behalf of the Board
Alkem Laboratories Limited
Samprada Singh
Place: Mumbai Chairman Emeritus
Date: 30th May 2018 DIN: 00760279