Balance Sheet - - - - Laboratorios Torrent, S.A. de C.V. As at As at As at As at Notes EQUITY AND LIABILITIES Shareholder's funds Share capital 1 747.41 3,433.08 747.41 3,290.40 Reserves and surplus 2 (337.71) (1,551.20) (413.98) (1,822.50) 409.70 1,881.88 333.43 1,467.90 Non current liabilities Long term provisions 29.76 136.70 22.92 100.90 29.76 136.70 22.92 100.90 Current liabilities Trade payables 102.90 472.65 91.28 401.85 Other current liabilities 3 19.66 90.30 12.25 53.93 Short-term provisions 4 5.14 23.61 10.82 47.63 127.70 586.56 114.35 503.41 TOTAL 567.16 2,605.14 470.70 2,072.21 ASSETS NON CURRENT ASSETS Fixed Assets Tangible assets 5 2.90 13.32 2.97 13.08 Intangible Assets 2.06 9.46 3.35 14.75 Intangible assets under development 2.16 9.92 - - 7.12 32.70 6.32 27.82 Long term loans and advances 6 7.98 36.65 7.25 31.92 15.10 69.35 13.57 59.74 CURRENT ASSETS Inventories 9 27.78 127.60 19.54 86.02 Trade Receivables 7 338.48 1,554.75 271.80 1,196.57 Cash and cash equivalents 10 52.24 239.96 39.32 173.11 Short term loans and advances 6 16.76 76.98 16.48 72.55 Other current assets 8 116.80 536.50 109.99 484.22 552.06 2,535.79 457.13 2,012.47 TOTAL 567.16 2,605.14 470.70 2,072.21 All monetary and non-monetary items in the balance sheet have been translated at closing rate of 1 MX$ = Rs. 4.5933 (Rs. 4.4024)
Statement of Profit and Loss Year Ended Year Ended Year Ended Year Ended INCOME Revenue from operations 11 Sales 827.78 3,802.24 566.57 2,494.27 Operating Income 38.56 177.12 213.42 939.56 Revenue from operations (Net) 866.34 3,979.36 779.99 3,433.83 Other Income 12 3.98 18.28 1.91 8.41 TOTAL REVENUE 870.32 3,997.64 781.90 3,442.24 EXPENSES Purchases of traded goods 198.44 911.49 113.43 499.36 Changes in inventories of finished goods 13 (8.24) (37.85) 3.74 16.47 Employee benefit expense 14 264.97 1,217.09 269.23 1,185.26 Depreciation and amortization expense 2.22 10.20 2.46 10.83 Other expenses 15 336.66 1,546.38 420.14 1,849.62 TOTAL EXPENDITURE 794.05 3,647.31 809.00 3,561.54 PROFIT BEFORE TAX 76.27 350.33 (27.10) (119.30) NET PROFIT FOR THE PERIOD 76.27 350.33 (27.10) (119.30)
Notes annexed to and forming part of the Financial Statements Laboratorios Torrent, S.A. de C.V. As at As at As at As at NOTE - 1 : SHARE CAPITAL Paid-up 747.41 3,433.08 747.41 3,290.40 Paid-up 747.41 3,433.08 747.41 3,290.40 NOTE - 2 : RESERVES AND SURPLUS Balance in profit and loss account Balance as per last Balance Sheet (413.98) (1,901.53) (386.88) (1,703.20) Add: Net profit for the current 76.27 350.33 (27.10) (119.30) Balance in Profit and Loss Account (337.71) (1,551.20) (413.98) (1,822.50) NOTE - 3 : OTHER LIABILITIES (337.71) (1,551.20) (413.98) (1,822.50) Current Liabilities Payables for employee benefits 13.18 60.54 5.47 24.08 Payables to statutory and other authorities 6.48 29.76 6.78 29.85 19.66 90.30 12.25 53.93 NOTE - 4 : PROVISIONS Long Term Provisions Provision for employee benefits Post-retirement benefits 20.16 92.60 16.30 71.76 Provision for sales returns 9.60 44.10 6.62 29.14 29.76 136.70 22.92 100.90 Short Term Provisions Provision for sales returns 5.14 23.61 10.82 47.63 5.14 23.61 10.82 47.63 NOTE - 6 : LOANS AND ADVANCES [Unsecured and considered good, unless otherwise stated] 34.90 160.31 33.74 148.53 Non-current Advance tax paid, net of provisions 6.75 31.00 0.53 2.33 Security Deposits 1.23 5.65 6.72 29.58 7.98 36.65 7.25 31.92 Current Advances recoverable in cash or kind 16.76 76.98 16.48 72.55 16.76 76.98 16.48 72.55 24.74 113.63 23.73 104.47
As at As at As at As at NOTE - 7 : TRADE RECEIVABLES Debts over six months from due date Considered Good 115.47 530.39 77.06 339.25 Considered Doubtful 14.96 68.72 6.91 30.42 Less : Allowance for doubtful debt (14.96) (68.72) (6.91) (30.42) 115.47 530.39 77.06 339.25 Other Debts - Considered Good 223.01 1,024.36 194.74 857.32 338.48 1,554.75 271.80 1,196.57 NOTE - 8 : OTHER CURRENT ASSETS [Unsecured and considered good, unless otherwise stated] Claims Receivable : Indirect tax / Insurance - - Considered Good 116.80 536.50 109.99 484.22 116.80 536.50 109.99 484.22 NOTE - 9 : INVENTORIES [At lower of cost or net realisable value] Finished Goods 27.78 127.60 19.54 86.02 27.78 127.60 19.54 86.02 NOTE -10 : CASH AND CASH EQUIVALENTS Cash and cash equivalent Balances with Banks 6.84 31.42 6.20 27.29 Cash on Hand 0.05 0.23 0.05 0.22 6.89 31.65 6.25 27.52 Other Bank Balances Fixed Deposit (with original maturity of > 3 months < 12 months) 45.35 208.31 33.07 145.59 45.35 208.31 33.07 145.59 52.24 239.96 39.32 173.11
Laboratorios Torrent, S.A. de C.V. Year Ended Year Ended Year Ended Year Ended NOTE - 11 : REVENUE FROM OPERATIONS Sales Sales outside India 827.78 3,802.24 566.57 2,494.27 827.78 3,802.24 566.57 2,494.27 Operating Income Other operating income 38.56 177.12 213.42 939.56 38.56 177.12 213.42 939.56 NOTE - 12 : OTHER INCOME 866.34 3,979.36 779.99 3,433.83 Interest Income 3.98 18.28 1.91 8.41 Other Non-Operating Income - - - - 3.98 18.28 1.91 8.41 NOTE - 13 : CHANGES IN INVENTORIES OF FINISHED GOODS WORK IN PROGRESS AND STOCK-IN-TRADE Opening Stocks Finished Goods 19.54 89.75 23.28 102.49 19.54 89.75 23.28 102.49 Less : Closing Stocks Finished Goods 27.78 127.60 19.54 86.02 27.78 127.60 19.54 86.02 Net (Increase) / Decrease in Stock (8.24) (37.85) 3.74 16.47 NOTE - 14 : EMPLOYEES BENEFITS EXPENSE Salaries, wages and bonus 194.78 894.68 185.40 816.20 Contribution to provident and other funds 42.59 195.63 44.52 195.99 Contribution for defined benefit plans 11.26 51.72 21.61 95.14 Staff welfare expenses 16.34 75.05 17.70 77.92 264.97 1,217.09 269.23 1,185.26
NOTE - 15 : OTHER EXPENSES Year ended Year ended Year ended Year ended Power and Fuel 0.48 2.20 0.39 1.72 Labour Charges 41.67 191.40 39.82 175.30 Laboratory Goods and Testing Expenses 3.94 18.10 1.25 5.50 Clinical research expense 22.07 101.37 117.94 519.22 Repairs and Maintenance : Others 2.18 10.01 0.40 1.76 2.18 10.01 0.40 1.76 Selling, Publicity and Medical Literature Expenses 107.67 494.56 105.90 466.21 Allowance for doubtful debts 8.05 36.98 6.91 30.42 Travelling, Conveyance and Vehicle Expenses 74.29 341.24 65.88 290.03 Communication Expenses 4.64 21.31 6.36 28.00 Professional and legal fees 39.79 182.77 34.13 150.25 Printing and Stationery Expenses 2.62 12.03 5.38 23.68 Rent 8.90 40.88 8.59 37.82 Registration Expenses 5.25 24.11 7.25 31.92 Insurance 0.82 3.77 - - Net Foreign Exchange Loss 2.15 9.88 7.34 32.31 Auditors Remuneration and Expenses 5.70 26.18 6.39 28.13 General Charges 6.44 29.58 6.21 27.34 336.66 1,546.38 420.14 1,849.62
NOTE -5 : Fixed Assets Schedule Particulars As at 01-Apr- (Rs. in lacs) ( Mx$ in Lacs ) Gross Block (At Cost) Depreciation,Amortisation & Impairment Net Block Adjustments 2014 As at 01-Apr- Adjustments 2014 2014 I.TANGIBLES Furniture & Fixtures Office Equipments (A) II.INTANGIBLES Computer Software (B) 3.16 0.17-3.33 0.89 0.32-1.21 2.12 2.27 3.54 0.68-4.22 2.84 0.60-3.44 0.78 0.70 6.70 0.85-7.54 3.73 0.92-4.64 2.90 2.97 6.21 0.49-6.70 2.56 1.17-3.73 2.97 5.19 - - 5.19 1.84 1.30-3.14 2.06 3.35 5.19 - - 5.19 1.84 1.30-3.14 2.06 3.35 5.19 - - 5.19 0.54 1.30-1.84 3.35 Total (A+B) 11.89 0.85-12.74 5.56 2.22-7.78 4.95 6.32 11.40 0.49-11.89 3.10 2.46-5.56 6.33 Particulars I.TANGIBLES As at 01-Apr- (Rs. in lacs) Gross Block (At Cost) Depreciation,Amortisation & Impairment Net Block Adjustments As at 01-Apr- Adjustments As at 31-Marduring the 2014 2014 2014 Furniture & Fixtures Office Equipments (A) 14.50 0.78-15.28 4.08 1.47-5.55 9.73 10.42 16.25 3.12-19.37 13.03 2.75-15.78 3.59 3.22 30.75 3.90-34.65 17.11 4.22-21.33 13.32 13.64 27.34 2.15-29.49 11.27 5.14-16.41 13.08 16.07 II.INTANGIBLES Computer Software (B) Total (A+B) 23.85 - - 23.85 8.46 5.96-14.40 9.46 15.39 23.85 - - 23.85 8.46 5.96-14.40 9.46 15.39 22.86 - - 22.86 2.39 5.71-8.11 14.75 20.47 54.60 3.90-58.50 25.57 10.18-35.73 22.78 29.03 50.20 2.15-52.35 13.66 10.85-24.52 27.84 36.54