(Rs.)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Revenues<\/b><\/p>\n<\/td>\n | \n 821<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 67,384<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 636<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 52,154<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 29<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 767<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 62,968<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nCost of Revenues<\/p>\n<\/td>\n | \n \n339<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n27,831<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n319<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,148<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n329<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n26,971<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n Gross Profit<\/b><\/p>\n<\/td>\n | \n 482<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 39,553<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 317<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 26,006<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 52<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 439<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 35,997<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 10<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n Operating Expenses<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nSelling, General & Administrative expenses<\/p>\n<\/td>\n | \n \n216<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,702<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n189<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15,493<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n14<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n219<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,992<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nResearch and Development expenses<\/p>\n<\/td>\n | \n \n61<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,984<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n53<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,325<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n65<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,366<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(7<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nImpairment of non-current assets<\/p>\n<\/td>\n | \n \n0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n540<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(98<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nOther operating (income)\/expense<\/p>\n<\/td>\n | \n \n(10<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(780<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(73<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(6024<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(87<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(281<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n178<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n Results from operating activities<\/b><\/p>\n<\/td>\n | \n 215<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 17,636<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 149<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 12,212<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 44<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 151<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 12,380<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 42<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nNet finance (income)\/expense<\/p>\n<\/td>\n | \n \n(10<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(784<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(29<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(2349<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(67<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(10<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(799<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nShare of profit of equity accounted investees<\/p>\n<\/td>\n | \n \n(1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(43<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(94<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(54<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(76<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n(43<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n |
\n| \n Profit before income tax<\/b><\/p>\n<\/td>\n | \n 225<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 18,463<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 179<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 14,655<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 26<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 162<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 13,255<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 39<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n \nIncome tax expense<\/p>\n<\/td>\n | \n \n54<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,438<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n34<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2779<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n60<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n45<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,663<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n| \n Profit for the period<\/b><\/p>\n<\/td>\n | \n 171<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 14,025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 145<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 11,876<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 18<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 117<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 9,592<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 46<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n |
\n| \n Diluted Earnings Per Share (EPS)<\/b><\/p>\n<\/td>\n | \n 1.03<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 84.22<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.87<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 71.40<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 18<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.70<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 57.62<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 46<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n As % to revenues<\/b><\/p>\n<\/td>\n | | \n | \n | \n\n Q1 FY24<\/b><\/p>\n<\/td>\n | | \n\n Q1 FY23<\/b><\/p>\n<\/td>\n | | \n | \n\n Q4 FY23<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGross Profit<\/p>\n<\/td>\n | | \n | \n | \n\n \n58.7<\/p>\n<\/td>\n | | \n\n \n49.9<\/p>\n<\/td>\n | | \n | \n\n \n57.2<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSG&A<\/p>\n<\/td>\n | | \n | \n | \n\n \n26.3<\/p>\n<\/td>\n | | \n\n \n29.7<\/p>\n<\/td>\n | | \n | \n\n \n28.6<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nR&D<\/p>\n<\/td>\n | | \n | \n | \n\n \n7.4<\/p>\n<\/td>\n | | \n\n \n8.3<\/p>\n<\/td>\n | | \n | \n\n \n8.5<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEBITDA<\/p>\n<\/td>\n | | \n | \n | \n\n \n31.7<\/p>\n<\/td>\n | | \n\n \n34.1<\/p>\n<\/td>\n | | \n | \n\n \n25.9<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPBT<\/p>\n<\/td>\n | | \n | \n | \n\n \n27.4<\/p>\n<\/td>\n | | \n\n \n28.1<\/p>\n<\/td>\n | | \n | \n\n \n21.1<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPAT<\/p>\n<\/td>\n | | \n | \n | \n\n \n20.8<\/p>\n<\/td>\n | | \n\n \n22.8<\/p>\n<\/td>\n | | \n | \n\n \n15.2<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n EBITDA Computation<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n Particulars<\/b><\/p>\n<\/td>\n | \n Q1 FY24<\/b><\/p>\n<\/td>\n | | \n\n Q1 FY23<\/b><\/p>\n<\/td>\n | | \n\n Q4 FY23<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n ($)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n | | \n\n ($)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n | | \n\n ($)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Profit before Income Tax<\/b><\/p>\n<\/td>\n | \n \n225<\/p>\n<\/td>\n | \n \n18,463<\/p>\n<\/td>\n | | \n\n \n179<\/p>\n<\/td>\n | \n \n14,655<\/p>\n<\/td>\n | | \n\n \n162<\/p>\n<\/td>\n | \n \n13,255<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest (income) \/ expense – Net*<\/p>\n<\/td>\n | \n \n(8)<\/p>\n<\/td>\n | \n \n(685)<\/p>\n<\/td>\n | | \n\n \n1<\/p>\n<\/td>\n | \n \n84<\/p>\n<\/td>\n | | \n\n \n(8)<\/p>\n<\/td>\n | \n \n(673)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation<\/p>\n<\/td>\n | \n \n28<\/p>\n<\/td>\n | \n \n2,281<\/p>\n<\/td>\n | | \n\n \n25<\/p>\n<\/td>\n | \n \n2,050<\/p>\n<\/td>\n | | \n\n \n27<\/p>\n<\/td>\n | \n \n2,213<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAmortization<\/p>\n<\/td>\n | \n \n16<\/p>\n<\/td>\n | \n \n1,302<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n1,000<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n977<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nImpairment<\/p>\n<\/td>\n | \n \n0<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | | \n\n \n0<\/p>\n<\/td>\n | \n \n0<\/p>\n<\/td>\n | | \n\n \n7<\/p>\n<\/td>\n | \n \n540<\/p>\n<\/td>\n<\/tr>\n | \n| \n EBITDA<\/b><\/p>\n<\/td>\n | \n 260<\/b><\/p>\n<\/td>\n | \n 21,372<\/b><\/p>\n<\/td>\n | | \n\n 217<\/b><\/p>\n<\/td>\n | \n 17,789<\/b><\/p>\n<\/td>\n | | \n\n 199<\/b><\/p>\n<\/td>\n | \n 16,312<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n * Includes income from Investments<\/i><\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n All amounts in millions, except EPS. All US dollar amounts based on convenience translation rate of 1 USD = Rs. 82.06<\/i><\/p>\n\n\n| \n Key Balance Sheet Items<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Particulars<\/b><\/p>\n<\/td>\n | \n As on 30th<\/sup> Jun 2023<\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n As on 31st<\/sup> Mar 2023<\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n As on 30th<\/sup> Jun 2022<\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n ($)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n | \n ($)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n | \n ($)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nCash and cash equivalents and other investments<\/p>\n<\/td>\n | \n \n745<\/p>\n<\/td>\n | \n \n61,162<\/p>\n<\/td>\n | \n \n761<\/p>\n<\/td>\n | \n \n62,456<\/p>\n<\/td>\n | \n \n432<\/p>\n<\/td>\n | \n \n35,468<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTrade receivables<\/p>\n<\/td>\n | \n \n939<\/p>\n<\/td>\n | \n \n77,095<\/p>\n<\/td>\n | \n \n883<\/p>\n<\/td>\n | \n \n72,486<\/p>\n<\/td>\n | \n \n893<\/p>\n<\/td>\n | \n \n73,274<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInventories<\/p>\n<\/td>\n | \n \n639<\/p>\n<\/td>\n | \n \n52,398<\/p>\n<\/td>\n | \n \n593<\/p>\n<\/td>\n | \n \n48,670<\/p>\n<\/td>\n | \n \n631<\/p>\n<\/td>\n | \n \n51,810<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProperty, plant and equipment<\/p>\n<\/td>\n | \n \n819<\/p>\n<\/td>\n | \n \n67,207<\/p>\n<\/td>\n | \n \n810<\/p>\n<\/td>\n | \n \n66,462<\/p>\n<\/td>\n | \n \n778<\/p>\n<\/td>\n | \n \n63,826<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGoodwill and Other Intangible assets<\/p>\n<\/td>\n | \n \n516<\/p>\n<\/td>\n | \n \n42,306<\/p>\n<\/td>\n | \n \n428<\/p>\n<\/td>\n | \n \n35,094<\/p>\n<\/td>\n | \n \n441<\/p>\n<\/td>\n | \n \n36,213<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLoans and borrowings (current & non-current)<\/p>\n<\/td>\n | \n \n153<\/p>\n<\/td>\n | \n \n12,520<\/p>\n<\/td>\n | \n \n164<\/p>\n<\/td>\n | \n \n13,472<\/p>\n<\/td>\n | \n \n301<\/p>\n<\/td>\n | \n \n24,666<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTrade payables<\/p>\n<\/td>\n | \n \n337<\/p>\n<\/td>\n | \n \n27,682<\/p>\n<\/td>\n | \n \n322<\/p>\n<\/td>\n | \n \n26,444<\/p>\n<\/td>\n | \n \n305<\/p>\n<\/td>\n | \n \n25,052<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEquity<\/p>\n<\/td>\n | \n \n2,989<\/p>\n<\/td>\n | \n \n2,45,259<\/p>\n<\/td>\n | \n \n2,815<\/p>\n<\/td>\n | \n \n2,30,991<\/p>\n<\/td>\n | \n \n2,442<\/p>\n<\/td>\n | \n \n2,00,389<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n Revenue Mix by Segment<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Segment<\/b><\/p>\n<\/td>\n | \n Q1 FY24<\/b><\/p>\n<\/td>\n | \n Q1 FY23<\/b><\/p>\n<\/td>\n | \n YoY
\n
<\/span>Gr %<\/b><\/p>\n<\/td>\n | \n Q4 FY23<\/b><\/p>\n<\/td>\n | \n QoQ
\n
<\/span>Gr %<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (Rs.)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n | \n (Rs.)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Global Generics<\/b><\/p>\n<\/td>\n | \n 60,083<\/b><\/p>\n<\/td>\n | \n 44,324<\/b><\/p>\n<\/td>\n | \n 36%<\/b><\/p>\n<\/td>\n | \n 54,257<\/b><\/p>\n<\/td>\n | \n 11%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nNorth America<\/p>\n<\/td>\n | \n \n31,978<\/p>\n<\/td>\n | \n \n17,815<\/p>\n<\/td>\n | \n \n79%<\/p>\n<\/td>\n | \n \n25,321<\/p>\n<\/td>\n | \n \n26%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEurope<\/p>\n<\/td>\n | \n \n5,071<\/p>\n<\/td>\n | \n \n4,141<\/p>\n<\/td>\n | \n \n22%<\/p>\n<\/td>\n | \n \n4,960<\/p>\n<\/td>\n | \n \n2%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIndia<\/p>\n<\/td>\n | \n \n11,482<\/p>\n<\/td>\n | \n \n13,324<\/p>\n<\/td>\n | \n \n-14%<\/p>\n<\/td>\n | \n \n12,834<\/p>\n<\/td>\n | \n \n-11%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEmerging Markets<\/p>\n<\/td>\n | \n \n11,552<\/p>\n<\/td>\n | \n \n9,043<\/p>\n<\/td>\n | \n \n28%<\/p>\n<\/td>\n | \n \n11,142<\/p>\n<\/td>\n | \n \n4%<\/p>\n<\/td>\n<\/tr>\n | \n| \n Pharmaceutical Services and Active Ingredients (PSAI)<\/b><\/p>\n<\/td>\n | \n 6,709<\/b><\/p>\n<\/td>\n | \n 7,090<\/b><\/p>\n<\/td>\n | \n -5%<\/b><\/p>\n<\/td>\n | \n 7,787<\/b><\/p>\n<\/td>\n | \n -14%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Others<\/b><\/p>\n<\/td>\n | \n 592<\/b><\/p>\n<\/td>\n | \n 740<\/b><\/p>\n<\/td>\n | \n -20%<\/b><\/p>\n<\/td>\n | \n 924<\/b><\/p>\n<\/td>\n | \n -36%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Total<\/b><\/p>\n<\/td>\n | \n 67,384<\/b><\/p>\n<\/td>\n | \n 52,154<\/b><\/p>\n<\/td>\n | \n 29%<\/b><\/p>\n<\/td>\n | \n 62,968<\/b><\/p>\n<\/td>\n | \n 7%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Revenue Analysis [Q1 FY24]<\/b><\/p>\n Global Generics (GG)<\/span><\/b><\/p>\n\n- Q1 FY24 revenue<\/b> at Rs. 60.1 billion, YoY growth of 36% and QoQ growth of 11%. The growth was driven by North America, Emerging Markets and Europe.\n<\/li>\n<\/ul>\n
North America<\/b><\/p>\n\n- Q1 FY24 revenue<\/b> at Rs. 32 billion, YoY growth of 79% and QoQ growth of 26%. The growth was primarily on account of new product launches, continued momentum in existing products, favorable forex rates movement, partly offset by price erosion.\n<\/li>\n
- \nDuring the quarter, we launched six new products in US and two in Canada. We also commercialized the generic prescription portfolio acquired from Mayne Pharma.<\/p>\n<\/li>\n
- \nDuring the quarter, we filed four new Abbreviated New Drug Applications (ANDAs) with the US Food and Drug Administration (USFDA). As of 30th<\/sup> June 2023, cumulatively 85 generic filings are pending for approval with the USFDA (82 ANDAs and 3 NDAs under 505(b)(2) route). Out of the pending 85 ANDAs, 43 are Para IVs, and we believe 17 have \u2018First to File\u2019 status.<\/p>\n<\/li>\n<\/ul>\n
Europe<\/b><\/p>\n\n- Q1 FY24<\/b> revenue at Rs. 5.1 billion, YoY growth of 22% and QoQ growth of 2%. The growth was driven by momentum in the base business, new product launches and favorable forex rates movement, partly offset by price erosion.\n<\/li>\n<\/ul>\n
India<\/b><\/p>\n\n- Q1 FY24<\/b> revenue at Rs. 11.5 billion, YoY decrease of 14% and QoQ decline of 11%. Excluding brand divestment income, sales of divested portfolio from base and NLEM related price reduction impact, India business registered a high single digit growth. This growth was mainly on account of increase in base business volumes.\n<\/li>\n<\/ul>\n
Emerging Markets<\/b><\/p>\n\n- Q1 FY24 revenue<\/b> from Emerging Markets at Rs. 11.6 billion, YoY growth of 28% and QoQ growth of 4%.\n<\/li>\n<\/ul>\n
\n– Revenue from Russia<\/b> for the quarter at Rs. 5.6 billion, YoY growth of 75% and QoQ growth of 9%. YoY growth was driven by uptick in base business, price increase and biosimilars. This was further aided by low base in previous year. QoQ growth was primarily driven by increase in volumes of existing products.<\/p>\n \n– Revenue from other CIS countries and Romania<\/b> for the year at Rs. 2.0 billion, YoY growth of 2% and QoQ decline of 14%. YoY growth, primarily on account of price increases on certain products, was offset with decline in base business volumes. QoQ decline was mainly on account of decline in volumes of existing products.<\/p>\n \n– Revenue from Rest of World (RoW)<\/b> territories for the year at Rs. 4.0 billion, YoY growth of 1% and QoQ growth of 8%. YoY growth, led by new product launches, was offset by price erosion and lower base business volumes. QoQ growth was mainly driven by new product launches and increase in volumes of existing products.<\/p>\n Pharmaceutical Services and Active Ingredients (PSAI)<\/span><\/b><\/p>\n\n- Q1 FY24 revenue <\/b>at Rs. 6.7 billion, with a decline of 5% YoY and 14% QoQ. YoY decline was mainly attributable to lower volume pick up by customers for some of our existing products, partly offset with favourable forex rate movement. QoQ decline was mainly attributable to decrease in sales volumes of certain of our existing products.\n<\/li>\n<\/ul>\n
Income Statement Highlights:<\/b><\/p>\n\n- Q1 FY24 gross margin<\/b> at 58.7% (GG: 63.9%, PSAI: 15.0%). Gross margin increased by ~880 bps YoY and by ~150 bps QoQ. The improvement in gross margin was primarily driven by favorable product mix and higher manufacturing leverage partly offset by benefit from brand divestment income during previous year and price erosion in certain products. QoQ growth was primarily on account of favourable product mix partly offset by brand divestment income benefit during preceding quarter.\n
\n- Selling, general & administrative (SG&A) expenses for Q1 FY24<\/b> at Rs. 17.7 billion, YoY increase of 14% and declined by 2% QoQ. The YoY SG&A spend increase is in-line with business growth and is largely on account of investment in sales & marketing, digitalization and other business initiatives.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
\n- Research & development (R&D) expenses in Q1 FY24<\/b> at Rs. 5.0 billion. As % to Revenues \u2013 Q1FY24: 7.4% | Q4FY23: 8.5% | Q1FY23: 8.3%. We continue our focus on investing in R&D to build a healthy pipeline of new products across our markets for both small molecules and biosimilars.\n<\/li>\n<\/ul>\n
\n- Other operating income for Q1 FY24<\/b> at Rs. 0.8 billion compared to Rs. 6 billion in Q1 FY23. Other operating income during the current quarter included settlement income of Rs. 0.5 billion in Canada relating to the generic abiraterone. The net other income in previous year included settlement income of Rs. 5.6 billion relating to the generic buprenorphine and naloxone sublingual film.\n<\/li>\n<\/ul>\n
\n- Net Finance income for Q1 FY24<\/b> at Rs.0.8 billion compared to Rs. 2.3 billion in Q1 FY24. The higher income during previous year was primarily on account of higher foreign exchange gain.\n<\/li>\n
- Profit before Tax for Q1 FY24<\/b> at Rs. 18.5 billion, YoY growth of 26%. QoQ growth of 39%\n<\/li>\n
- Profit after Tax for Q1 FY24<\/b> at Rs. 14.0 billion. The effective tax rate for the quarter has been 24.0% as compared to 19.0% in Q1 FY23. The tax rate was lower in pervious year primarily on account of recognition of unrecognized deferred tax assets on operating tax losses.\n<\/li>\n
- Diluted earnings per share for Q1 FY24<\/b> is Rs. 84.22.\n<\/li>\n<\/ul>\n
Other Highlights:<\/b><\/p>\n\n- EBITDA for Q1 FY24 <\/b>at Rs. 21.4 billion and the EBITDA margin is 31.7%.\n<\/li>\n
- Capital expenditure for Q1 FY24<\/b> at Rs. 3.6 billion.\n<\/li>\n
- Free cash-flow for Q1 FY24<\/b> at Rs. 6.7 billion (before acquisition payout).\n<\/li>\n
- Net cash surplus<\/b> for the company at Rs. 49.8 billion as on June 30, 2023.\n<\/li>\n<\/ul>\n
All amounts in millions, except EPS<\/i><\/p>\n About key metrics and non-GAAP Financial Measures<\/b><\/p>\n \nThis press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical performance, financial position or cash flows that are adjusted to exclude or include amounts, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.<\/p>\n \nThe presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS. Our non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. These measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes.<\/p>\n \nWe believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business.<\/p>\n \nFor more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please refer to “Reconciliation of GAAP to Non-GAAP Results<\/span>” table in this press release.<\/p>\nAll amounts in millions, except EPS<\/i><\/p>\n\n\n| \n Reconciliation of GAAP measures to Non-GAAP measures<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n Free Cash Flow<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three months Ended June 30, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nNet cash generated from operating activities<\/p>\n<\/td>\n | \n \n13,634<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLess:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTaxes<\/p>\n<\/td>\n | \n \n(2,384<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInvestments in PPE and Intangibles<\/p>\n<\/td>\n | \n \n(4,512<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free Cash Flow before acquisition<\/b><\/p>\n<\/td>\n | \n 6,738<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLess:<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisitions related pay-out<\/p>\n<\/td>\n | \n \n(7,640<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n Free Cash Flow<\/b><\/p>\n<\/td>\n | \n (902<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| Operating working capital<\/b><\/td>\n<\/tr>\n | | | | | | | | | | | | | | | | | | | | | | | | | | |