annual report 2017-2018 - pdindia.com · read with companies (appointment and qualification of...

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Notice of Annual General Meeting

Board’s Report

Annexure to the Board’s Report

Management Discussion and Analysis Report

Report on Corporate Governance

Auditor’s Certificate on Corporate Governance

Certificate from Managing Director

Independent Auditor’s Report

Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Notes to Financial Statement

Independent Auditor’s Report on Consolidated Financial Statement

Consolidated Balance Sheet

Consolidated Profit & Loss Statement

Consolidated Cash Flow Statement

Notes to Consolidated Financial Statement

Proxy Form

Company Information

Route Map to the AGM Venue

Statement of Changes in Equity (SOCIE)

Statement of Subsidiary Companies

Consolidate Statement of Changes in Equity (SOCIE) 108

Company InformationBoard of Directors

Shri Manohar Lal GuptaChairman

Shri Vinod Kumar GuptaManaging Director

Shri Govind Das GargWhole-Time Director

Shri Anil MittalDirector

Executive Directors

M/s. Singhal Jain & Co.Chartered Accountants,A-18, Indrapuri Colony, Lal Kothi,Tonk Road, Jaipur-302006 (Rajasthan)

Auditors

State Bank of IndiaPunjab National Bank

Bankers

340, Laxmi Plaza, Laxmi Industrial Estate,New Link Road, Andheri (West),Mumbai-400 053 (Maharashtra)e-mail: [email protected]: www.pdindia.com

Registered Office

Shree Ganesh Chambers,Navlakha Crossing, A. B. Road,Indore-452 001 (Madhya Pradesh)e-mail: [email protected]

Corporate Office & Investors Grievances Centre

Link Intime India Private LimitedC-101, 247 Park, L.B.S. Marg,

(West), Mumbai-400 083Tel. No.: 022 - 49186270Fax No.: 022 - 49186060e-mail: [email protected]

Vikhroli

Registrar and Share Transfer Agent

CS Aradhana Kulkarni

Company Secretary & Compliance Officer

Madhya Pradesh Himachal PradeshVillage: Bhud,Tehsil: Nalagarh,Dist.: Solan-173 205(H.P.) India

Manufacturing Locations

Village: Panwa, Tehsil: Kasrawad, Dist.: Khargone-451 228 (M.P.) India

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Shri th Dilip Kumar Panchaity (till 30 April, 2017)Independent Director

Shri Dilip Kumar SinhaIndependent Director

Non-Executive Directors

Shri th Sandeep Vyas (till 13 June, 2018)Independent Director

Smt. Deepali GarhewalIndependent Director

Shri Balkrishna V. Chaubal Nominee DirectorShri Dharam Pal KhannaIndependent Director

Shri th Manish Verma ( w.e.f. 29 June, 2018)Independent Director

th34 Annual Report 2017-2018

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Care, Concern and Cure...

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thNOTICE is hereby given that the 34 Annual General Meeting of the members of Parenteral Drugs (India) Limited will be held on thSaturday, the 29 day of September, 2018, at 9.30 a.m. at the Classique Club, Behind Infinity Mall, Link Road, Oshiwara, Andheri

(West), Mumbai-400 053 to transact the following business:-

ORDINARY BUSINESS1. a. To consider, approve and adopt the Standalone Financial Statement and reports of the Board of Directors and Auditors

stthereon of the company as on 31 March, 2018.b. To consider, approve and adopt the Consolidated Financial Statement and Auditors Report thereon of the company as on

st31 March, 2018.2. To re-appoint Shri Govind Das Garg (DIN:00520067), Whole-Time Director of the company, who is liable to retire by rotation

and being eligible offers himself for re-appointment.

SPECIAL BUSINESSITEM NO.3AUTHORITY TO ENTER INTO CONTRACT /ARRANGEMENT WITH RELATED PARTIESTo consider and if thought fit, to pass the following resolution as a Special Resolution: “RESOLVED THAT pursuant to section 188 and other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modification(s) or re-enactment thereof for the time being in force) read with the Companies (Meetings of Board and its Powers) Rules, 2014 and any amendment thereto and Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, consent of the members of the company be and is hereby accorded to the Board of Directors of the company to enter into loan licence arrangement and other contract/arrangement with M/s. Infutec Healthcare Limited, a related party for production, sale, purchase of raw material, finished goods and job work for an amount not exceeding

st thRs.60,00,00,000/- (Rupees Sixty Crores) for the period starting from 1 July, 2018 till 30 September, 2019;st stRESOLVED FURTHER THAT for the period starting from 1 July, 2018 till 31 March, 2019, the Board of Directors of the Company shall

be empowered to enter into related party transaction with M/s. Infutec Healthcare Limited to the tune of Rs. 30,00,00,000/- (Rupees Thirty Crores);

RESOLVED FURTHER THAT the related party transactions already entered into between the Company and M/s. Infutec Healthcare st thLimited between 1 July, 2018 till 30 September, 2018, be and are hereby ratified and confirmed;

RESOLVED FURTHER THAT the Board of the company be and is hereby authorized to do or cause to be done all such acts, matters, deeds or things as it may in its absolute discretion deem fit, required or considered necessary or incidental thereto, for giving effect to the aforesaid resolutions.”ITEM NO. 4RE-APPOINTMENT OF SHRI VINOD KUMAR GUPTA (DIN: 00039145) AS MANAGING DIRECTOR OF THE COMPANYTo consider and if thought fit, to pass the following resolution as a Special Resolution: “RESOLVED THAT pursuant to the provision of sections 196,197 and other applicable provisions, if any, of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Schedule V to the Companies Act, 2013 (including any statutory modification(s) or re-enactment thereof for the time being in force) and as recommended by the Nomination and Remuneration Committee and the Board of Directors of the Company, approval of members of the Company be and is hereby accorded to re-appoint Shri Vinod Kumar Gupta (DIN: 00039145) as Managing Director of the Company for a period of

stfive (5) years w.e.f. 1 January, 2019 on a consolidated monthly remuneration of Rs. 1,25,000/- (Rupees One Lac Twenty Five Thousand) and contribution to Provident and Gratuity Fund as may be applicable and will be liable to retire by rotation under the provisions of section 152 of the Companies Act, 2013;

RESOLVED FUTHER THAT Shri Govind Das Garg (DIN:00520067), Whole-Time Director of the Company be and is hereby authorised to file necessary forms with the Registrar of Companies, Maharashtra, as may be required under the provisions of the Companies Act, 2013 in this regard.”ITEM NO. 5APPOINTMENT OF SHRI MANISH VERMA (DIN:08168517) AS AN INDEPENDENT PROFESSIONAL DIRECTOR OF THE COMPANYTo consider and if thought fit, to pass the following resolution as an Ordinary Resolution:“RESOLVED THAT Shri Manish Verma (DIN: 08168517), who was appointed as an Additional Director of the Company with effect

thfrom 29 June, 2018 by the Board of Directors of the Company pursuant to sub-section (1) of Section 161 of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 2014 and Article 117 of the Articles of Association of the Company and in respect of whom, the Company has received a notice under section 160 of the Companies Act, 2013, be and is hereby appointed as Director of the Company, not liable to retire by rotation;RESOLVED FURTHER THAT pursuant to the provisions of sections 149 and other applicable provisions of the Companies Act, 2013, read with Schedule IV of the Companies Act, 2013, Companies (Appointment and Qualification of Directors) Rules, 2014 (including

any statutory modification(s) or re-enactment thereof for the time being in force) and Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, Shri Manish Verma (DIN: 08168517), be and is

th sthereby appointed as an Independent Professional Director of the Company eligible for appointment w.e.f. 29 June, 2018 till 31 January, 2021;

RESOLVED FURTHER THAT Shri Govind Das Garg (DIN:00520067), Whole Time Director of the company be and is hereby authorised to file necessary form with the Registrar of Companies, Maharashtra and to do all such acts, deeds or things to give effect to the aforesaid resolution.”

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Place: Indore thDate: 14 August, 2018

BY ORDER OF THE BOARD

Vinod Kumar GuptaManaging Director

(DIN: 00039145)

N O T E S

1. Statement pursuant to section 102 of the Companies Act, 2013 relating to the Special Business to be transacted at the Annual General Meeting is annexed hereto.

2. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE ANNUAL GENERAL MEETING (the “Meeting”) IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE ON POLL ON HIS / HER BEHALF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY. A person can act as proxy on behalf of members not exceeding fifty (50) and holding in aggregate not more than ten (10) percent of the total share capital of the Company. In case a proxy is proposed to be appointed by a member holding more than ten (10) percent of the total share capital of the Company carrying voting rights, then such proxy shall not act as a proxy for any other member. The instrument of proxy, in order to be effective, should be deposited at the Registered Office of the Company, duly completed and signed, not later than 48 hours before the commencement of the meeting. A Proxy Form is annexed to this Report. Proxy Form submitted on behalf of limited companies, societies etc. must be supported by an appropriate resolution / authority, as applicable.

3. Members holding shares in physical form are requested to forward all applications for transfer and all other shares related correspondence (including intimation for change of address) to the Share Transfer Agent of the Company at the following address: Link Intime India Private Limited, C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083The members are requested to:a. Intimate to the Registrar/ Company, changes, if any, in their registered address at an early date along with the PIN

code.b. Quote registered folio/client ID and DP ID in all their correspondence(s).

4. Members holding shares in dematerialized form (electronic form) are requested to intimate any change in their address, bank mandate etc., directly to their respective depository participants.

rd th5. The Register of Members and the Share Transfer Books of the Company will remain closed from 23 September, 2018 to 29 September, 2018 (both days inclusive).

6. Electronic copy of the Annual Report is being sent to all the members whose e-mail IDs are registered with the company / Depository Participants. However, the physical copies of the same are being sent to all the members by the permitted

stmode who are members of the company as on the cut-off date i.e. 1 September, 2018.7. To promote green initiative, members are requested to register their e-mail address through their Depository Participant

for sending the future communications by e-mail. Members holding the shares in physical form may register their e-mail address through the Registrar and Share Transfer Agent, giving reference of their folio number.

8. Pursuant to provisions of section 125 of the Companies Act, 2013, dividend which remained unpaid/unclaimed for a period of seven (7) years from the date of transfer of the same to the Company's unpaid dividend account has been transferred to the Investor Education and Protection Fund established by the Central Government.

9. In accordance with the provisions of section 72 of the Companies Act, 2013, members are entitled to make nomination in respect of Equity Shares held by them, in physical form. Members desirous of making nomination may avail the facility of nomination by nominating in the prescribed “Nomination Form”, a person to whom his/her/their shares in the Company shall vest in the event of his/her death.

10. The Company has appointed CS Archna Maheshwari of M/s Archna Maheshwari & Co., Practicing Company Secretaries, as Scrutinizer who will scrutinize the remote e- voting and poll process in a fair and transparent manner.

11. The members can opt for only one mode of voting, i.e., either by e-voting or the poll facility available at the venue of the meeting.

12. Voting through electronic means:Pursuant to the provisions of section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014 as amended and Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is pleased to provide its members, the facility

thto exercise their right to vote at the 34 Annual General Meeting by electronic means (“Remote e-voting”). The business may be transacted through e-voting services provided by Central Depository Services (India) Limited (CDSL).

th thThe voting period begins on 26 September, 2018 at 9.00 a.m. and ends on 28 September, 2018 at 5.00 p.m. During this period, shareholders of the company, holding shares either in physical form or in dematerialized form, as on the cut-off

nddate (record date) i.e. 22 September, 2018, may opt for remote e-voting. Also, once the vote on a resolution is casted by the member, he/she/it shall not be allowed to change it subsequently or cast the vote again. The e-voting module shall be

nddisabled by CDSL for voting thereafter. Also, a person who is not a member as on the cut-off date (record date) i.e. 22 September, 2018 should treat this notice for information purpose only.

The instructions for shareholders voting electronically are as under: th th(i) The voting period begins on 26 September, 2018 at 9.00 a.m. and ends on 28 September, 2018 at 5.00 p.m. During this

period shareholders' of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off nddate (record date) i.e. 22 September, 2018, may cast their vote electronically. The e-voting module shall be disabled by


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CDSL for voting thereafter.(ii) The shareholders should log on to the e-voting website www.evotingindia.com. (iii) Click on Shareholders.(iv) Now Enter your User ID

a. For CDSL: 16 digits beneficiary ID, b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Members holding shares in Physical Form should enter Folio Number registered with the Company.

(v) Next enter the Image Verification as displayed and Click on Login.(vi) If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an earlier voting of any

company, then your existing password is to be used. (vii) If you are a first time user follow the steps given below:

(viii) After entering these details appropriately, click on “SUBMIT” tab. (ix) Members holding shares in physical form will then directly reach the Company selection screen. However, members

holding shares in demat form will now reach 'Password Creation' menu wherein they are required to mandatorily enter their login password in the new password field. Kindly note that this password is to be also used by the demat holders for voting for resolutions of any other company on which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential.

(x) For Members holding shares in physical form, the details can be used only for e-voting on the resolutions contained in this Notice.

(xi) Click on the EVSN for the relevant <Company Name> on which you choose to vote.(xii) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO” for voting. Select

the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.

(xiii) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.(xiv) After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box will be displayed. If you

wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and accordingly modify your vote.(xv) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.(xvi) You can also take out print of the voting done by you by clicking on “Click here to print” option on the Voting page.(xvii) If Demat account holder has forgotten the same password then Enter the User ID and the image verification code and click

on Forgot Password & enter the details as prompted by the system.(xviii) Note for Non – Individual Shareholders and Custodians

·Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian are required to log on to www.evotingindia.com and register themselves as Corporates.

·A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to [email protected].

·After receiving the login details a compliance user should be created using the admin login and password. The Compliance user would be able to link the account(s) for which they wish to vote on.

·The list of accounts should be mailed to [email protected] and on approval of the accounts they would be able to cast their vote.

For Members holding shares in Demat Form and Physical Form

PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders)

·Members who have not updated their PAN with the Company/Depository Participant are requested to use the sequence number which is printed on Postal Ballot / Attendance Slip indicated in the PAN field.

Dividend Bank Details

Enter the Dividend Bank Details as recorded in your demat account or in the company records for the said demat account or folio.·Please enter the DOB or Dividend Bank Details in order to login. If the details are not recorded with the depository or company please enter the member ID / folio number in the Dividend Bank details field as mentioned in instruction (iv).

DOB Enter the Date of Birth as recorded in your demat account or in the company records for the said demat account or folio in dd/mm/yyyy format.

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·A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.

(xix) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions (“FAQs”) and e-voting manual avai lable at w w w.evotingindia.com, under help sec t ion or write an email to [email protected].

STATEMENT UNDER SECTION 102 OF THE COMPANIES ACT, 2013ITEM NO.3According to the provisions of section 188 of the Companies Act, 2013 read with Companies (Meetings of Board and its Powers) Rules, 2014, a company having paid-up share capital of ten crores rupees or more shall not enter into a specified contract or arrangement with the related party except with the prior approval of the shareholders of the company by way of a resolution.Your company was having related party transactions with its erstwhile subsidiary company viz. Infutec Healthcare Limited, a group company. Infutec Healthcare Limited is no long a subsidiary of the company but the related party transactions related to sale, purchase of raw material, goods and job work will be continued. The contract entered between the company and Infutec Healthcare Limited is in the ordinary course of business and at an arm's length basis even though as an abundant precaution, it is proposed to seek approval of the shareholders of the company by way of passing the resolution as set out in Item No.3 of the accompanying Notice.The Board recommends the resolution as set out in Item No.3 of the accompanying Notice, for the approval of members of the company as a Special Resolution. None of the Directors, Key Managerial Personnel of the Company and their relatives except Shri Manohar Lal Gupta (DIN:00040784), Shri Vinod Kumar Gupta (DIN:00039145), Shri Anil Mittal (DIN:00039133) and Shri Govind Das Garg (DIN:00520067) being the directors in Infutec Healthcare Limited and their relatives are concerned or interested, financially or otherwise, in the resolution as set out in Item No.3 of the accompanying Notice.

ITEM NO.4Shri Vinod Kumar Gupta (DIN:00039145) aged 68 years and is a promoter director of the company and has been managing the affairs of the company on day to day basis from very beginning and has been instrumental in bringing the company to this stage.He has almost 46 years of working experience in pharmaceutical industry and has wide experience in various business activities and

th stwas appointed as Managing Director of the company on 30 September, 2013 for a period of five years w.e.f. 1 January, 2014 and his sttenure is coming to an end on 31 December, 2018. The Nomination and Remuneration Committee and the Board of Directors of the

th thcompany recommended his appointment at their meetings held on 29 June, 2018 and 14 August, 2018 respectively and will not be liable to retire by rotation.Further, the company complies/will comply with the conditions as set out in Section II of Part II of Schedule V of the Companies Act, 2013. Details of the Whole-Time Director as required under clause (iv) of Section II of Part II of Schedule V of the Companies Act, 2013 are as under:

I. General Information: (1) Nature of industry: Pharmaceutical

nd(2) Date or expected date of commencement of commercial production: 2 July, 1986(3) Financial performance based on given indicators: On standalone basis, during the financial year 2017-2018,

the Company recorded a turnover of Rs. 32.97 crores and recorded a loss after tax of Rs.96.09 crores. (4) Foreign investments or collaborations, if any: There are no overseas subsidiaries or collaborations of the

company.II. Information about the appointee:

(1) Background details: * Name: Shri Vinod Kumar Gupta* Father's Name: Shri Gyarsi Lal Gupta * Date of Birth: 20.02.1950* Residential Address: 11, Janki Nagar NX, Indore-452 001 (Madhya Pradesh)

(2) Past remuneration: Rs.1,25,000/- p.m. (Rupees One Lac Twenty Five Thousand) and contribution to Provident and Gratuity Fund as may be applicable.

(3) Recognition or awards: None(4) Job profile and his suitability:

Shri Gupta (DIN: 00039145) has 46 years of working experience in diversified business activities including experience in pharmaceutical industry. He is basically looking into the day to day affairs of the company. He has been working as a Whole-Time Director of the Company since 1989 and has made pioneering contribution in growth of the company.

(5) Remuneration proposed: Rs. 1,25,000/- p.m. (Rupees One Lac Twenty Five Thousand Only) and contribution to Provident and Gratuity Fund as may be applicable.


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(6) Comparative remuneration profile with respect to industry, size of the company, profile of the position and person (in case of expatriates the relevant details would be with respect to the country of his origin):Remuneration proposed to be paid to the Managing Director is on the lower side of the industry norms, size of the company and looking to the profile of the Managing Director.

(7) Pecuniary relationship directly or indirectly with the company, or relationship with the managerial personnel, if any:Shri Gupta (DIN:00039145) does not have any pecuniary relationship with the Company, other than receipt of remuneration as a Managing Director. Further, Shri Vinod Kumar Gupta (DIN:00039145), Shri Manohar Lal Gupta (DIN:00040784) and Shri Govind Das Garg (DIN:00520067) are related to each other and are the promoter directors of the company.

III. Other information:(1) Reasons of loss or inadequate profits: The loss was due to overall liquidity crunch being faced by the company

resulting in low turnover and productivity and thereby higher costs.(2) Steps taken or proposed to be taken for improvement: The Company is in regular talks with the bankers for

the sanction of appropriate revival package/Scheme for the company. (3) Expected increase in productivity and profits in measurable terms: The Company will try to achieve the

standards of its past performance. IV. Disclosures:

The following disclosures are mentioned in the Directors' Report under the heading "Corporate Governance", forming part of the financial statement:—

(i) all elements of remuneration package such as salary, benefits, bonuses, stock options pension etc., of all the directors;

(ii) details of fixed component and performance linked incentives along with the performance criteria;

(iii) service contracts, notice period, severance fees;

(iv) stock option details, if any, and whether the same has been issued at a discount as well as the period over which accrued and over which exercisable.

Also, according to the provisions of section 190 of the Companies Act, 2013, a contract of service with Shri Gupta (DIN:00039145), Managing Director of the company will be entered into by the company. In terms of provision of sections 196, 197 and other provisions applicable, if any, of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Schedule V to the Companies Act, 2013, approval of the members of the Company is required for his re-appointment as a Managing Director of the Company for a further period of five (5) years by way of passing the proposed resolution as a Special Resolution. Further, the company will pay remuneration to the Managing Director after obtaining all necessary permissions as may be required to be obtained as per the applicable provisions.Hence, the Board recommends the resolution as set out in Item No. 4 of the accompanying Notice for your approval as a Special Resolution.None of the Directors, Key Managerial Personnel and their relatives are concerned or interested financially or otherwise in the resolution as set out in Item No. 4 except Shri Vinod Kumar Gupta (DIN:00039145) for himself, Shri Govind Das Garg (DIN:00520067)and Shri Manohar Lal Gupta (DIN:00040784) and their relatives.

ITEM NO.5Shri Manish Verma (DIN:08168517), who has been appointed as an Additional Director of the Company under sub-section (1) of

thSection 161 of the Companies Act, 2013 w.e.f. 29 June, 2018, holds office up to the date of this Annual General Meeting and is eligible for appointment as Director as provided in the Articles of Association of the Company. Also, the company has appointed him as an

th stIndependent Professional Director of the Company who is eligible for appointment w.e.f. 29 June, 2018 upto 31 January, 2021. The Company has received notice under section 160 of the Companies Act, 2013, from a member signifying his intention to propose the candidature of Shri Manish Verma (DIN: 08168517) for the office of Director.Shri Manish Verma (DIN:08168517) has an experience of eight(8) years of working as a High Court Advocate. He has vast experience in handling Civil and allied matters.According to the provisions of section 149 of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 2014 and Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, every listed company shall have an optimum combination of Independent Directors. Keeping in view, the requirements of Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013, the company has complied with the said requirements as a casual vacancy occurred due to vacation of office of Shri Sandeep Vyas (DIN: 07652129), Independent Director of the company. Further, pursuant to the provisions of sub-section (10) of section 149 of the Companies Act, 2013, the term of Shri Manish Verma (DIN:

th st08168517) commences w.e.f. 29 June, 2018 till 31 January, 2021 on the Board of the company. Also, in terms of sub-section (13) of section 149 read with explanation to sub-section (6) of section 152 of the Companies Act, 2013, Independent Directors are not liable to retire by rotation.

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According to proviso to sub-section (5) of section 152 of the Companies Act, 2013, in the opinion of the Board, he fulfills the conditions for his appointment as an Independent Director. He is independent of the management. Brief resume of Shri Manish Verma (DIN: 08168517), nature of his expertise in specific functional areas and name of companies in which he holds directorship/membership/chairmanship of the Board/Committee, as stipulated under Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, with the Stock Exchange(s), are provided in the Corporate Governance Report, forming part of this Annual Report. Keeping in view his expertise and knowledge, it will be in the interest of the Company to appoint him as an Independent Director. Copy of the letter of his appointment as an Independent Director setting out the terms and conditions are available for inspection by members at the Registered Office of the Company and also on the website of the company.The Board recommends the resolution as set out in Item No. 5 of the accompanying Notice for approval by the members as an Ordinary Resolution.None of the Directors, Key Managerial Personnel of the Company and their relatives are in any way, concerned or interested, financially or otherwise, in the resolution as set out in Item No. 5 of the accompanying Notice except Shri Manish Verma (DIN: 08168517), for himself and his relatives.


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BY ORDER OF THE BOARD


(DIN: 00039145)

thANNEXURE TO NOTICE DATED 14 August, 2018DETAILS OF DIRECTORS RETIRING BY ROTATION/SEEKING APPOINTMENT/RE-APPOINTMENT AT THE ENSUING ANNUAL GENERAL MEETING

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S.NO. PARTICULARS SHRI GOVIND DAS GARG(DIN: 00520067)

SHRI VINOD KUMAR GUPTA(DIN: 00039145)

SHRI MANISH VERMA(DIN: 08168517)

1. Age

71

years

68

years

36

years

2. Qualifications

B.Tech

B.Sc, L.L.B

B.Com. , L.L.B

3. Experience (including experience in specific functional area)/ Brief resume

40

years of working experience in diversified business activities including experience in

pharmaceutical industry

46

years of working experience in diversified business activities including experience in pharmaceutical industry

High Court Advocate for last

8

years handling civil, revenue and allied matters

4. Terms and Conditions of Appointment/Re-appointment

As per the Item No. 2

of the Notice convening the Annual General Meeting on 29th

September, 2018, Shri

Govind Das Garg (DIN: 00520067)

being liable to

retire by rotation is

proposed to be re-appointed as Director of the company

As per the resolution at Item No. 4

of the Notice

convening

the Annual General Meeting on 29th

September, 2018,

along

with the explanatory statement

thereto, Shri Vinod Kumar

Gupta (DIN: 00039145) is proposed to be re-appointed as a Managing Director of the company

As per the resolution at Item No. 5

of the Notice convening the Annual General Meeting on 29th

September, 2018

along with the explanatory statement thereto, Shri Manish Verma (DIN: 08168517)

is proposed to be

appointed as an Independent Professional Director of the company

5. Remuneration last drawn (including sitting fees, if any)

Rs. 15,00,000/-p.a.

(But not paid)

Rs. 15,00,000/- p.a.

(But not

paid) NA

6. Remuneration proposed to be paid

Rs. 15,00,000/- p.a.

The remuneration will be same as he is retiring director and seeking re-appointment(Subject to provisions of section 196 & 197 of the Companies Act, 2013)

Rs.15,00,000/ -p.a (Subject to provisions of section 196 & 197 of the Companies Act, 2013)

Rs. 2000/- per meeting of the Board or committee thereof

7. Date of first appointment on the Board

10th October, 1985 10th January, 1989 29th June, 2018

8. Relationship with other directors/Key Managerial Personnel

Shri Govind Das Garg (DIN:00520067), Shri Vinod Kumar Gupta (DIN: 00039145) and Shri Manohar Lal Gupta (DIN:

00040784) are related to each other

Shri Vinod Kumar Gupta (DIN:00039145), Shri Govind Das Garg (DIN: 00520067) and Shri Manohar Lal Gupta (DIN:00040784) are related to each other

NA

9. No. of meetings of the Board attended during the year

4

5

NA

10.

Directorships of other Boards

1.Parenteral Impex Limited 2.Infutec Healthcare Limited

3.Parenteral Biotech Limited 4.Infutec Healthcare (India)

Limited

5.PDPL Securities Private Limited

1.Parenteral Impex Limited 2.Infutec Healthcare Limited

3.Infutec Healthcare (India) Limited

4. M V G Mercantile Private Limited

5. PDPL Holdings Private Limited

6. PDPL Securities

Private Limited

7. Anitas Exports

Private Limited

8. Parenteral Biotech

Limited

9. Ujjai Estates Private Limited

NA

11.

Membership/Chairmanship of committees of other Boards

Infutec Healthcare Limited-

Audit Committee (Member)

1. Infutec Healthcare Limited-

Nomination and Remuneration Committee (Member)

NA

B OA R D ’S R E P O R TTo The Members of

Parenteral Drugs (India) Limited thThe Directors of your Company are pleased to present the 34 Annual Report together with the audited financial statements of the

stcompany for the financial year ended 31 March, 2018.

FINANCIAL RESULTS AND THE STATE OF COMPANYS' AFFAIRSstThe company's standalone financial performance for the year ended 31 March, 2018 is summarized below:

The revenue from operations for the year under review was Rs.32.97 crores as against Rs. 52.65 crores in the previous year. The Company recorded a loss before interest, depreciation and tax of Rs.14.49 crores during the year as against loss before interest, depreciation and tax of Rs. 32.12 crores in the previous year and recorded a loss after interest, depreciation and tax of Rs. 96.09 crores during the year as against a loss of Rs. 114.08 crores during the previous year. The loss was due to overall liquidity crunch and working capital shortage being faced by the company resulting in low turnover and productivity and thereby higher costs.A review of the performance during the year is given under the section Management Discussion and Analysis Report, as stipulated under Regulation 34(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is presented in a separate section which forms part of this Annual Report.

DIVIDEND Due to continuous losses, the Board regrets its inability to recommend any dividend for the year under review.

CONSOLIDATED FINANCIAL STATEMENTSIn accordance with the provisions of section 134 of the Companies Act, 2013 and applicable accounting standards, the audited consolidated financial statements are provided in this Annual Report.

CORPORATE REVAMPINGThe Company is in regular talks with the bankers for the sanction of an appropriate revival package/Scheme for the company and the management is hopeful that a workable scheme would come out in near future.

SUBSIDIARY COMPANIES As on the date of the report, the company has two (2) Indian subsidiaries:Parenteral Biotech Limited and Parenteral Impex Limited.After the closure of the financial year 2017-18, Infutec Healthcare Limited, has ceased to be a subsidiary of the company. A report on the performance and financial position of each of the subsidiary company as per the Companies Act, 2013 is annexed as Annexure to the Consolidated Financial Statements and hence not repeated for the sake of brevity.

DIRECTORS AND KEY MANAGERIAL PERSONNELShri Govind Das Garg (DIN:00520067), Whole-Time Director of the company is liable to retire by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment.

Shri Vinod Kumar Gupta (DIN:00039145) was re-appointed as Managing Director of the company on 30 September, 2013 for a st stperiod of five (5) years commencing from1 January, 2014 and his tenure as Managing Director is expiring on 31 December, 2018.

The Nomination and Remuneration Committee and the Board of Directors of the company recommended his re-appointment at

th

(Rs. in Lakhs)Particulars F.Y.

2017-2018 F.Y.

2016-2017

Sales and Other Income 3431.56 5518.37 Profit/(Loss) before Interest, Depreciation & Tax (1449.62) Less: Finance cost 8634.00 7393.82 Depreciation and Amortization 1856.64 1910.09 Provision for Taxation 0.00 0.00 Deferred Tax (Assets) (2331.04) (1107.81)

Tax adjustment for the previous year 0.00 0.07 Profit/(Loss) after Interest, Depreciation & Tax (9609.22) (11408.70) Items which will not be classified to statement of profit or loss after tax relating to these items

(2.30) (30.49)

Items which will be classified to statement of profit or loss after tax relating to these items

0.00 0.00

Total comprehensive income for the year (9611.53) (11439.20) Earnings per share (EPS of Face Value of Rs. 10/ - each)

(32.23) (38.26)

(3212.54)


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th ththeir meetings held on 29 June, 2018 and 14 August, 2018 respectively as Managing Director for a further period of five(5) years stw.e.f. 1 January, who is not liable to retire by rotation.

According to Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and section 149 read with Schedule IV of the Companies Act, 2013, the office of directorship of Shri Sandeep Vyas

th(DIN:07652129) was vacated w.e.f. 13 June, 2018. The Board appointed Shri Manish Verma (DIN:08168517) as an additional and th stIndependent Director on 29 June, 2018 till 31 January, 2021 to fill the said casual vacancy and the same was intimated to the Stock

Exchange(s) on that date.Brief resume of the said Directors, nature of their expertise in specific functional areas and names of companies in which they hold directorship/membership/chairmanship of Board/Committee, as stipulated under Regulation 27 of The Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, are provided in the Corporate Governance Report forming part of this Annual Report. The Company has received declarations from all the Independent Directors of the company confirming that they meet the criteria of independence as prescribed under sub-section (6) of section 149 of the Companies Act, 2013.The company has devised a policy for performance evaluation of Independent Directors, Board, committees and other individual directors which includes criteria for performance evaluation of the non-executive and executive directors. The Company's policy on directors' appointment and remuneration and other matters provided in section 178(3) of the Companies Act, 2013 has been disclosed in the corporate governance report, which forms part of this Annual Report.CS Aradhana Kulkarni, is the Secretary and Compliance Officer of the company.

CORPORATE GOVERNANCEYour company believes Corporate Governance is at the core of Stakeholder satisfaction. Your company is committed to maintain the highest standards of Corporate Governance and adhere to the Corporate Governance requirements as set out by SEBI. Your company has also implemented several best Corporate Governance practices as generally prevalent. The report on Corporate Governance as stipulated under Regulation 27 of The Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 is forming part of this Annual Report. The requisite certificate from the Practicing Chartered Accountant confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid regulation is enclosed to this Annual Report.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIESAll contracts / arrangements / transactions entered by the company during the financial year with related parties were in the ordinary course of business and on an arm's length basis. The company's major related party transactions are generally with its subsidiaries. The related party transactions are entered on considerations such as synergy in operations, sectoral specialization, liquidity and capital resources of subsidiaries. During the year, the company had entered into contract / arrangement / transaction with Infutec Healthcare Limited, wholly owned subsidiary of the company which is considered as material related party transaction in accordance with the policy of the company on materiality of related party transactions. The details of material related party transactions are mentioned in Form No. AOC-2 as Annexure-I to this report. The Policy on materiality of related party transactions and dealing with related party transactions as approved by the Board may be accessed on the Company's weblink http://www.pdindia.com/docs/policyondealingwithrelatedpartytransactions.pdfYour Directors draw attention of the members to Note No. 34 to the financial statement which sets out related party disclosures as per IND AS-24.

MANAGEMENT DISCUSSION AND ANALYSIS REPORTThe Management Discussion and Analysis Report, as stipulated under Regulation 34(3) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, is presented in a separate section which forms part of this Annual Report.

AUDITORS AND AUDITORS' REPORTM/s Singhal Jain & Co., Chartered Accountants, Jaipur, bearing Firm Registration No. 013995C were appointed as the Statutory

thAuditors of the Company from the conclusion of the last Annual General Meeting till the conclusion of the 38 Annual General Meeting of the Company. As required under section 139 of the Companies Act, 2013, the Company has obtained a written consent from M/s Singhal Jain & Co., Chartered Accountants, Jaipur, to such appointment and also a certificate to the effect that their appointment, if made, would be in accordance with the provisions of section 139(1) and section 141 of the Companies Act, 2013 and rules made thereunder, as may be applicable.The report of the Statutory Auditors does not contain any qualification, reservation or adverse remark or disclaimer and the same is self explanatory and do not call for any further comments from the Board.

SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORTThe Board has appointed M/s. Archna Maheshwari & Co., Practicing Company Secretaries, to conduct Secretarial Audit of the

stcompany. The Secretarial Audit Report for the financial year ended on 31 March, 2018 is annexed herewith as Annexure-II to this report. The Secretarial Audit Report does not contain any qualification, reservation or adverse remark or disclaimer except related to appointment of an independent director and Cheif Financial Officer of the company. The management is of the view that the

strequirement of appointment of independent director was persisting as on 31 March, 2018. Subsequently, the company has

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complied with the said regulation. Further, due to financial constraints, non-availability of funds and despite of best efforts, the company is unable to appoint a Chief Financial Officer. As the role of Chief Financial Officer is minimum, Shri Vinod Kumar Gupta, Managing Director of the company is discharging its duties.

COST AUDITORThe company has maintained cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013 and accordingly such accounts and records are maintained by the company. Report of the Cost Auditor in respect of Cost Audit for the year under review would be filed with the Central Government in due course of time.Further, pursuant to the provisions of section 148 of the Companies Act, 2013 read with Companies (Cost Audit and Records) Rules, 2014, the company is not required to appoint a Cost Auditor for the financial year 2018-19, as the turnover of the company has reduced from the threshold limit of Rs. 50 crores as specified for the pharmaceutical industry under the Companies (Cost Records and Audit) Rules, 2014.

HUMAN RESOURCEThe Company believes in the concept of human empowerment. It firmly believes that human resource is the most important asset of the organization and the same can be appreciably seen in the growth of the company inspite of all odds. During the year, the company continued its efforts aimed at improving the human resource policies and processes to enhance its performance. During the year under review, the industrial relations continued to be cordial.

RISK MANAGEMENTRegulation 21 of The Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 related to Risk Management Committee is not applicable to the company as the same is applicable to top 100 listed entities determined on the basis of market capitalisation, as at the end of the immediately previous financial year.

FIXED DEPOSITThe company has not accepted deposits during the year under review neither covered under Chapter V of the Companies Act, 2013 nor otherwise. No amount has remained unpaid or unclaimed as at the end of the year, therefore, there is no default in repayment of deposits or payment of interest thereon during the year under review.

UNCLAIMED DIVIDENDThe company has transferred the entire amount remaining in the unpaid and unclaimed dividend account as well as 89,781 equity shares held by such to the Investor Education and Protection Fund with the Central Government. The shareholders whose unpaid and unclaimed dividend as well as equity shares has been transferred to the Investor Education and Protection Fund can claim the same in the prescribed form alongwith the required documents.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS & OUTGO Particulars pertaining to the Conservation of Energy, Technology Absorption and Foreign Exchange Earnings & Outgo as prescribed under section 134 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, are annexed as Annexure-III and the same is forming part of this report.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURESIn terms of the provisions of sub-section(12) of section197 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel), Rules, 2014, there are no employees drawing remuneration in excess of the limits set out in the said rules. The other disclosures are annexed as Annexure-IV to this report.

LISTINGThe equity shares of the company are listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited.The company has not yet paid the listing fees to the stock exchange(s).

DIRECTORS' RESPONSIBILITY STATEMENT Pursuant to the provisions of section 134 of the Companies Act, 2013, with respect to the Directors' Responsibility Statement, it is hereby confirmed that:

st(i) in the preparation of annual accounts for the year ended 31 March, 2018, the applicable Indian Accounting Standards have been followed along with proper explanation relating to material departures;

(ii) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the company as at the end of the

st stfinancial year ended on 31 March, 2018 and of the profit and loss of the company for the financial year ended on 31 March, 2018;

(iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

st(iv) the Directors had prepared the annual accounts for the financial year ended on 31 March, 2018 on a going concern basis;(v) the Directors had laid down internal financial controls to be followed by the company and that such internal controls are

adequate and were operating effectively;


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(vi) the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

DISCLOSURES i. There is no change in the nature of business of the company during the year under review.ii. The composition of the Audit Committee of the company is provided under Corporate Governance Report, forming part of

this Annual Report. Further, all the recommendations made by the Audit Committee were accepted by the board. iii. The details of establishment of Vigil Mechanism for directors and employees of the company are provided under Corporate

Governance Report, forming part of this Annual Report.iv. During the year under review, there are no material changes and commitments affecting the financial position of the

company which have occurred between the end of the financial year to which the financial statements relate. v. There has been no significant and material orders passed by the regulators or courts or tribunals impacting the going

concern status and company's operations in future.vi. The internal financial controls with reference to the financial statements of the company are adequate and commensurate

to the size of the company.vii. The extract of Annual Return of the company is annexed herewith as Annexure-V to this report.viii. The Board of Directors met six(6) times during the financial year 2017-2018. The maximum time gap between two (2)

consecutive meetings did not exceed one hundred and twenty (120) days. The details of the date(s) on which the meetings were held are given in the Corporate Governance Report, forming part of this Annual Report.

ix. During the year under review, the Company has neither given any guarantee or provided any security in connection with a loan to any other body corporate or person nor invested any fund in the securities of any other body corporate or extended loan to any company. However, the company continued the Corporate Guarantee already extended to Parenteral Surgicals Limited, a group company.

x. During the year under review, the company had no profits and therefore the company does not propose to carry any amount to its reserves.

xi. The provisions of section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 related to Corporate Social Responsibility are not applicable as the company does not meet the criteria specified therein.

xii. Neither the Managing Director nor the Whole-Time Directors of the company are in receipt of any remuneration or commission from any of its subsidiaries.

xiii. As reported by the statutory auditor of the company, there are no such frauds other than those which are reportable to Central Government under sub-section (12) of section 143 of the Companies Act, 2013.

xiv. The company is not required to give any disclosure under the provisions of sub-section (3) of section 67 of the Companies Act, 2013.

xv. No cases of sexual harassment were reported during the financial year under review. th xvi. The accrued statutory liabilities (sales tax, GST, provident fund, ESIC, professional tax, service tax , excise duty) till 30 June,

th 2018, which were outstanding as on 13 August, 2018 aggregated to Rs. 6.23 crores.

ACKNOWLEDGEMENTSThe Directors would like to express their appreciation for the assistance and co-operation received from Bankers, Government authorities, customers and vendors during the year. Your Directors also wish to place on record their deep sense of appreciation for the committed services of executives, staff and workers of the Company.


FOR AND ON BEHALF OF THE BOARD

Manohar Lal GuptaChairman

(DIN: 00040784)

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ANNEXURE TO THE BOARD’S REPORTANNEXURE–I

Form No. AOC-2(Pursuant to clause (h) of sub-section 134 of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts) Rules, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arm's length transactions under third proviso thereto1. Details of contracts or arrangements or transactions not at arm's length basis: There were no contracts or arrangements

stor transactions entered into during the year ended 31 March, 2018, which were not at arm's length basis.2. Details of material contracts or arrangement or transactions at arm's length basis:

Sr. No. Name(s) of the related party and nature of relationship (a)

Nature of contracts/ arrangements/ transactions (b)

Duration of the contracts / arrangements/ transactions (c)

Salient terms of the contracts or arrangements or transactions including the value, if any (d)

Date(s) of approval by the Board, if any (e)

Amount paid as advances, if any (f )

1. Infutec Healthcare Limited (Wholly Owned Subsidiary)

Purchase of Goods/Material

1 year The transactions were at prevailing market prices and conditions and at arm’s length basis during the financial year 2017-18 for an amount not exceeding Rs.60,00,00,000/- (Rupees Sixty Crores)

Not required

Nil

Sale of Goods/ Material

1 year

Other (Job Work)

1 year

2. Anitas Exports Private Limited (Group Company)

Purchase of Goods/Material

1 year The transactions were at prevailing market prices and conditions and at arm’s length basis during the financial year 2017-18 for an amount not exceeding Rs.5,00,00,000/- (Rupees Five Crores)

Not required

Rs.36,469




(DIN: 00040784)


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ANNEXURE–II

FORM MR-3stSecretarial Audit Report for the Financial Year ended on 31 March, 2018

[Pursuant to Section 204 (1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To,The Members, Parenteral Drugs (India) LimitedMumbai I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by M/s. PARENTERAL DRUGS (INDIA) LIMITED (hereinafter called 'the Company'). Secretarial Audit was conducted in a manner that provided me a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.Based on my verification of company's books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, I hereby report that in my opinion, the Company has, during the audit period covering the financial year ended

ston 31 March 2018, generally complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

I have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the stfinancial ended on 31 March, 2018, according to the provisions of:

i) The Companies Act, 2013 (the Act) and the Rules made there under;

ii) The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the Rules made there under;iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;iv) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct

Investment, Overseas Direct Investment and External Commercial Borrowings;

v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 ('SEBI Act') to the extent applicable to the Company :-a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;b. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;c. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 and The Securities and

Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; d. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and

amendments from time to time; (Not applicable to the Company during the audit period);e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; (Not applicable to the

Company during the audit period);f. The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding

the Companies Act and dealing with client;g. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; (Not applicable to the company

during the audit period);h. The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998; (Not applicable to the company

during the audit period);i. The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme)

Guidelines, 1999 and the Securities and Exchange Board of India Share Based Employee Benefits) Regulations, 2014; (Not applicable to the Company during the audit period).

vi) Other laws applicable specifically to the company namely:(a) The Drugs and Cosmetic Act, 1940(b) The Indian Copy Right Act, 1957(c) The Pharmacy Act, 1948(d) The Petroleum Act, 1934(e) The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974.(f ) The Poisons Act, 1919(g) The Patent Act, 1970(h) The Trademark Act, 1999(i) The Indian Boilers Act, 1923

I report that, during the year under review, the Company has complied with the provisions of the Acts, rules, regulations and

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guidelines mentioned above.I have also examined compliance with the applicable clauses of the following:

i. Secretarial Standards issued by The Institute of Company Secretaries of India, with respect to board and general meetings.ii. The Listing Agreements entered into by the company with National Stock Exchange of India Limited and BSE Limited.

I further report that, based on information provided by the company, its officers and authorised representatives during the conduct of the audit, and also on the review of quarterly compliance reports by the respective department heads/Company Secretary/CEO taken on record by the Board of Directors of the company, in my opinion, adequate systems and processes and control mechanism exist in the company to monitor and ensure compliance with applicable general laws like labour laws, competition law and environmental laws.

I further report that, the compliance by the company of applicable financial laws, like direct and indirect laws, has not been reviewed in this Audit since the same have been subject to review by statutory financial auditor and other designated professionals.

I further report that, the Board of the company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors except the requirement of an Independent director. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. Further, as per requirement of Section 203 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 of the Companies Act, 2013, the company was also required to appoint Chief Financial Officer, but still the company has not appointed the same as per the requirement of the Act.Adequate notices were given to all directors of the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance to all Directors, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.As per the minutes of the meetings duly recorded and signed by the Chairman, the decisions of the Board were unanimous and no dissenting views have been recorded.

I further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.

I further report that there were no other specific events/ actions in pursuance of the above referred laws, rules, regulations, guidelines etc., having a major bearing on the company's affairs.

To, The Members, Parenteral Drugs (India) LimitedMumbai

Our report of even date is to be read along with this letter 1. Maintenance of Secretarial record is the responsibility of the management of the company. My responsibility is to express

an opinion on these Secretarial records based on our audit.

2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in Secretarial records. I believe that the processes and practices I followed provide a reasonable basis for my opinion.

3. I have not verified the correctness and appropriateness of financial records and books of accounts of the company.

4. The Compliance of the provisions of corporate and other applicable laws, rules, regulations, standards is the responsibility of management. My examination was limited to the verification of procedure on test basis.

5. The Secretarial Audit Report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the management has conducted the affairs of the company.

‘Annexure-A’


For Archna Maheshwari & Co.

Archna MaheshwariACS No.: 9436 CP No.: 12034

This report is to be read with our letter of even date which is annexed as Annexure-A and forms an integral part of this report.


For Archna Maheshwari & Co.

Archna MaheshwariACS No.: 9436 CP No.: 12034

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ANNEXURE–III CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS & OUTGO

(A) CONSERVATION OF ENERGYi. The company takes all necessary steps/precautions to conserve energy at all possible levels, particularly by monitoring

high energy consuming equipments, appropriate shut down of the high energy consuming machines and use of energy saving lighting arrangements.

ii. The company makes regular investment for maintenance of the equipments to save energy.

iii. The company has not made any capital investment on energy conservation equipments.

(B) TECHNOLOGY ABSORPTION i. The company is committed to develop innovative technologies and creating a knowledge base for manufacturing high

quality and economical formulations for the mass. The company carried out Research & Development in the areas of upgradation of existing manufacturing process.Following are some specific areas in which Research & Development is carried out:

i) Development of new formulations for filling with regulated and emerging markets.

ii) Value addition and cost reduction of existing manufacturing process.iii) Validation of processes to support development of new formulations.

ii. The Company has been successful in developing world class technology for manufacturing intra-venous fluids with FFS technology, which has been well recognized and accepted in the international market.Since the FFS technology is fully automatic and thus, the process is closed which ensures a quality product, free from any contamination.

iii. The Company has not imported technology during the last three years.iv. The expenditure incurred on Research & Development:

1. Capital: Nil

2. Recurring: The Company incurs regular expenditure on Research & Development but the same have not been capitalized.

(C) FOREIGN EXCHANGE EARNINGS AND OUTGO Foreign Exchange Earnings and Outgo for the financial year 2017-2018 are as follows:

Particulars Actual Inflows of Foreign Exchange (Earnings)

Actual Outflows of Foreign Exchange (Outgo)

2017-18

420.33

NIL

(Rs.in Lakhs)

ANNEXURE–IV

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES i. During the year under review, no salary was paid to the whole-time director of the company. Therefore, the ratio of

remuneration paid to each of the whole-time director to the median remuneration of the employees of the company cannot be mentioned.

ii. During the year under review, pursuant to the provisions of section 196, 197 of the Companies Act, 2013 read with Schedule V, no remuneration was paid to the Whole-Time Directors. There was no change in remuneration paid to the key managerial personnel during the financial year 2017-2018.

iii. During the year under review, there was no increase in the remuneration paid to the employees of the company. stiv. There are 900 permanent employees on the rolls of the company, as on 31 March, 2018

v. During the year under review, neither the remuneration paid to the whole-time directors nor to the employees of the company was increased.

vi. The remuneration paid to the employees of the company is as per the remuneration policy of the company.

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ANNEXURE-V-EXTRACT OF ANNUAL RETURN

FORM NO. MGT 9EXTRACT OF ANNUAL RETURN

As on financial year ended 31.03.2018[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Company (Management & Administration)

Rules, 2014]

I. REGISTRATION & OTHER DETAILS:

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY All the business activities contributing 10% or more of the total turnover of the company shall be stated

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES :

i. CIN L24100MH1983PLC126481 ii. Registration Date 13/12/1983

iii. Name of the Company Parenteral Drugs (India) Limited iv. Category/Sub-category of the

Company Public Company/Limited by shares

v. Address of the Registered office & contact details

340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai-400 053 Ph. No. 022-61725900 Fax No. 022-61725901 Email Id : [email protected]

vi. Whether listed company YES vii. Name, Address & contact details of

the Registrar & Transfer Agent, if any.

Link Intime India Private Limited C-101, 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai– 400 083 Ph. No. 022-49186270 Fax No. 022-49186060 Email Id: [email protected]

S. No. Name and Description of main products / services

NIC Code of the Product/service

% to total turnover of the company

1 Manufacture of allopathic pharmaceutical preparations

3042 100

S. No. Name and Address of the company

CIN/GLN Holding/ Subsidiary/ Associate

% of shares held

applicable section

1 Parenteral Biotech Limited 340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai- 400053

U24230MH1995PLC094930

Subsidiary 51 2(87)(i) & (ii)

2 Parenteral Impex Limited 340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai- 400053

U24239MH2006PLC166419


3 *Infutec Healthcare Limited 339, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai-400053

U24230MH2005PLC155962


*After the end of financial year 2017-18, Infutec Healthcare Limited is no longer a subsidiary of the company

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IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)i) Category-wise Share Holding

Category of Shareholders

No. of Shares

held at the beginning of the year

No. of Shares held at the end of the year

% Change

during

the year

Demat

Physical

Total

% of Total Shares

Demat

Physical

Total

% of Total Shares

A. Promoters

(1) Indian

a) Individual/ HUF

0

0

0

0

0

0

0

0

0

b) Central Govt

0

0

0

0

0

0

0

0

0

c) State Govt(s)

0

0

0

0

0

0

0

0

0

d) Bodies Corp.

21849243

0

21849243

73.28

21849243

0

21849243

73.28

0

e) Banks / FI

0

0

0

0

0

0

0

0

0

f ) Any other....

0

0

0

0

0

0

0

0

0

Sub total (A) (1):-

21849243

0

21849243

73.28

21849243

0

21849243

73.28

0

(2) Foreign

(a)NRIs-Individuals

0

0

0

0

0

0

0

0

0

(b) Other-Individuals

0

0

0

0

0

0

0

0

0

c) Bodies Corp.

0

0

0

0

0

0

0

0

0

d) Banks/ FI

0

0

0

0

0

0

0

0

0

e) Any other.....

0

0

0

0

0

0

0

0

0

Sub-total (A) (2):-

0

0

0

0

0

0

0

0

0

Total Shareholding of Promoters (A) = (A) (1)+ (A) (2)

21849243

0

21849243

73.28

21849243

0

21849243

73.28

0

B. Public Shareholding

1. Institutions

a) Mutual Funds

0 7998 7998 0.03 0 1998 1998 0.01 (0.02)

b) Banks / FI 266 1066 1332 0.00 266 266 532 0.00 0

c) Central Govt

0 0 0 0 0 0 0 0 0

d) State Govt(s)

0 0 0 0 0 0 0 0 0

e) Venture Capital Funds

0 0 0 0 0 0 0 0 0

f ) Insurance Companies

0 0 0 0 0 0 0 0 0

g) FIIs 0 0 0 0 0 0 0 0 020

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h) Foreign

Venture Capital Funds

0 0 0 0 0 0 0 0 0

i) Others (specify)

0 0 0 0 0 0 0 0 0

Sub-total (B)(1):-

266 9064 9330 0.03 266 2264 2530 0.01 (0.02)

2. Non-Institutions

a) Bodies Corp.

i) Indian 965263 15093 980356 3.29 769077 6293 775370 2.60 (0.69) ii) Overseas 0 0 0 0 0 0 0 0 0 b) Individuals

i) Individual shareholders holding nominal share capital upto Rs. 1 lakh

2759808 292446 3052254 10.24 3058742

228923

3287665

11.03

0.79

ii) Individual shareholders holding nominal

share capital in excess of Rs 1 lakh

2736927

507451

3244378

10.88

3084456

182245

3266701

10.96

0.08

c) Others (specify)

(i) Non Resident Indians (Repat)

61330

0

61330

0.21

68314

0

68314

0.23

0.02

(ii) Non Resident Indians (Non Repat)

76806

0

76806

0.26

77140

0

77140

0.26

0

(iii) Clearing Member

242121

0

242121

0.81

98065

0

98065

0.33

(0.48)

(iv) Directors / Relatives

1599

3466

5065

0.02

1599

3466

5065

0.02

0

(v) Trusts 2200 0 2200 0.001 2200 0 2200 0.001 0 (vi) HUF 159484 133733 293217 0.98 223298 70928 294226 0.98 0 (VII) IEPF 0 0 0 0 89781 0 89781 0.30 0.30

Sub-

total

(B) (2) :-

7005538

952189

7957727

26.69

7472672

491855

7964527

26.71

0.02

Total Public Shareholding (B)= (B) (1) + (B) (2)

7005804

961253

7967057

26.72

7472938

494119

7967057

26.72

0

C. Shares held by Custodian for GDRs & ADRs

0

0

0

0

0

0

0

0

0

Grand Total (A+B+C)

28855047

961253

29816300

100.00

29322181

494119

29816300

100.00

0

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ii) Shareholding of Promoters

S.

No. Shareholder’s

Name Shareholding at the beginning of the year Shareholding at the end of the year %

change in shareholding during the year

No. of Shares

% of total Shares of

the company

% of Shares Pledged / encumbered to total shares

No. of Shares % of total Shares of

the company

% of Shares Pledged / encumbered to total shares

1 Rajratan Exports Private Limited

6666665 22.36 22.36 6666665 22.36 22.36 0

2 Parenteral Commercial Services Private Limited

30986 0.10 0.10 30986 0.10 0.10 0

3 PDPL Holdings

Private Limited

3217120 10.79 10.79 3217120 10.79 10.79 0

4 PDPL Securities

Private Limited

611506 2.05 2.05 611506 2.05 2.05 0

5 Mahaganpati Investment Private Limited

1600000 5.37 5.37 1600000 5.37 5.37 0

6 MVG Mercantile Private Limited

9722966 32.61 32.61 9722966 32.61 32.61 0

Total 21849243 73.28 73.28 21849243 73.28 73.28 0

iii) Change in Promoters' Shareholding (please specify, if there is no change)

S. No.

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of shares % of total shares of the company


1 At the beginning of the year

There is no change in Promoter’s Shareholding between 01.04.2017 to 31.03.2018 2. Date wise Increase /

Decrease in Promoters Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc):

3. At the end of the year

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iv) Shareholding Pattern of top ten Shareholders: (Other than Directors, Promoters and Holders of GDRs and ADRs)*:

S. No.


Date Increase/Decrease in Shareholding

Reason Cumulative Shareholding during the year

For Each of the Top 10

Shareholders

No. of shares

% of total

shares of the

company

No. of shares

% of total

shares of the

company

1. Sunil Sehgal 519000 1.74 23.06.2017

30.06.2017

07.07.2017

21.07.2017

28.07.2017

8263

27137

9723

10877

15465

Market Purchase

Market Purchase

Market Purchase

Market Purchase

Market Purchase

527263

554400

564123

575000

590465

1.77

1.86

1.89

1.93

1.98

2. Madhukar Sheth

450585 1.51 - - - 450585 1.51

3. Rajni Jain 190000 0.63 16.03.2018

31.03.2018

(190000)

190000

Market Sell Market

Purchase

0

190000

0.00

0.63

4. IL & FS Securities Services Limited

176770 0.59 - - - 176770

0.59

5. Pawan Kumar Kejriwal

4200 0.01 16.02.2018

23.02.2018

02.03.2018

09.03.2018

16.03.2018

23.03.2018

31.03.2018

5492

29202

29103

18933

19359

41246

10427

Market Purchase

Market Purchase

Market Purchase

Market Purchase

Market Purchase

Market Purchase

Market Purchase

9692

38894

67997

86930

106289

147535

157962

0.03

0.13

0.23

0.29

0.36

0.49

0.53

6. Batra Fincap Limited

142253 0.47 23.03.2018 (275) Market Sell 141978 0.47

7. Rahul Bhandare

132155 0.44 - - - 132155 0.44

8. Abhishek Aggarwal

0 0.00 02.02.2018 115000 Market Purchase

115000 0.38

9. Anoop Sunder Malani

99777 0.33 - - - 99777 0.33

10. B. B. Agrawal 236018 0.79 12.05.2017 02.03.2018

(88507) (59004)

Market Sell Market Sell

147511 88507

0.49 0.29

* As provided by Registrar and Transfer Agent

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v) Shareholding of Directors and Key Managerial Personnel:

V) INDEBTEDNESS -Indebtedness of the Company including interest outstanding/accrued but not due for payment:

S. No.

For each of the Directors and KMP


Date* Increase/Decrease in Shareholding

Reason Cumulative Shares at the end of the year


No. of shares

% of total shares of the company

1. Shri Manohar Lal Gupta

NIL NIL - - - NIL NIL

2. Shri Vinod Kumar Gupta

NIL NIL - - - Nil NIL

3. Shri Govind Das Garg


4. Shri Anil Mittal 1866 0.0063 - - - 1866 0.0063 5. Shri Balkrishna V.

Chaubal NIL NIL - - - NIL NIL

6. Shri Dharam Pal Khanna


7. Shri Dilip Kumar Sinha

1333 0.0045 - - - 1333 0.0045

8. Smt. Deepali Garhewal


9. Shri Sandeep Vyas


10. CS Aradhana Kulkarni


th*Shri Manish Verma (DIN:08168517) appointed on 29 June, 2018 does not hold any shares of the company

Secured Loans excluding deposits

Unsecured Loans*

Deposits Total Indebtedness

Indebtedness at the beginning of the financial year

i) Principal Amount 5293272697 289389331 41674290 5624336318

ii) Interest due but not paid 977414159 0 0 977414159

iii) Interest accrued but not due 0 0 0 0

Total (i+ii+iii) 6270686856 289389331 41674290 6601750477

Change in Indebtedness during the financial year

Addition 848678512 800000 2491546 851970058

Reduction 8470747 8470747 Net Change 848678512 800000 (5979201) 843499311 Indebtedness at the end of the financial year

i) Principal Amount 5293272697 290189331 35695086 5619157114

ii) Interest due but not paid 1826092671 0 0 1826092671

iii) Interest accrued but not due 0 0 0 0 Total (i+ii+iii) 7119365368 290189331 35695086 7445249785

* Includes the Security Deposit from Supplies and Stockists

0 0

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VI) REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

* But not paid

S.No. Particulars of Remuneration Name of MD/WTD/ Manager Total Amount

Shri Vinod Kumar Gupta

Shri Manoharlal Gupta

Shri Govind Das Garg

Shri Anil Mittal

1 Gross salary 15,00,000* 15,00,000* 15,00,000* 14,93,000*

59,93,000 (a) Salary as per provisions

contained in section 17(1) of the Income-tax Act, 1961

(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961

0 0 0 0 0

(c) Profits in lieu of salary under section 17(3) of the Income- tax Act, 1961

0 0 0 0 0

2 Stock Option 0 0 0 0 0 3 Sweat Equity 0 0 0 0 0 4 Commission

- as % of profit - others, specify…

0 0 0 0 0

5 Others, please specify (i) Bonus

0 0 0 7,000 7,000

Total (A)

15,00,000

15,00,000

15,00,000

15,00,000

60,00,000

Ceiling as per the Act 60,00,000

B. Remuneration to other directors:

S.No.

Particulars of Remuneration

Name of Directors

Total Amount

Shri Balkrishna V. Chaubal

Shri D.P.Khanna

Shri D.K.

Sinha Shri

D. K.

Panchaity Smt.

Deepali Garhewal

Shri Sandeep Vyas

1

Independent Directors

Fee for attending board /committee meetings

- 36,000

20,000

-

24,000

2,000

82,000

Commission - - - - - - -Others, please specify

- - - - - - -

Total (1) - 36,000 20,000 - 24,000 2,000 82,000

2 Other Non-Executive Directors

- - - - - - -

Fee for attending board /committee meetings

12,000 - - - - - 12,000

Commission - - - - - - -

Others, please specify

- - - - - - -

Total (2)

12,000

-

-

-

-

- 12,000

Total (B)=(1+2)

12,000

36,000

20,000

-

24,000

2,000

94,000Total Managerial

Remuneration

12,000

36,000

20,000

-

24,000

2,000

94,000

Overall Ceiling as per the Act

Rs. 100000/-

per Board meeting per director

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C. Remuneration to key managerial personnel other than MD/MANAGER/WTD:

VIII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: There were no penalties, punishment or compounding of offences during the year ended March 31, 2018.

S.No Particulars of Remuneration Key Managerial Personnel

CEO CS CFO Total

1 Gross salary

(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961

- 7,93,680 - 7,93,680

(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961

- - - -

(c) Profits in lieu of salary under section 17(3) of the Income-tax Act, 1961

- - - -

2 Stock Option - - - - 3 Sweat Equity - - - - 4 Commission

as % of profit others, specify…

- - - -

5 Others, please specify - 7,000 - 7,000

Total - 8,00,680 - 8,00,680

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MANAGEMENT DISCUSSION AND ANALYSIS REPORT

INDUSTRY STRUCTURE AND DEVELOPMENTSPharmaceutical Industry has gained immense importance and carved a niche for itself in the pharmaceutical domain. This segment of Industry has shown tremendous progress in terms of infrastructure development, technology base and wide range of products. Pharmaceutical companies in India have embarked on the journey for discovering new drugs since early 2000. New drug discovery is resource intensive, requires building competencies and carries high risk of failure. While during the year under review, domestic growth slowed down in the wake of implementation of Goods and Services Tax (GST), the outlook remains positive. The pipeline of new products being developed by Indian pharmaceutical industry is gradually growing and it may be a realistic expectation that we may see successful registrations in highly regulated markets like US and Europe of a novel chemical entities and biologics discovered in India. India's focus on providing complex and speciality products, customer centricity, regulatory compliance, quality improvement and operational efficiency are expected to enhance exports.Indian Industry- Vibarant facts and overview

·Industry has recently achieved historic milestones as a world class cost effective generic drugs manufacturer for life saving drugs used for life threatening diseases for eg. AIDS, cancer etc.

·Exports from India stood at USD 16.84 billion in FY 2016-17; it is expected to reach USD 20 billion by 2020.

·India's pharmaceutical industry is expected to expand at a CAGR of 12.89% over 2015–20 to reach USD 55 billion and by 2025 to grow to USD 100 billion.

·After USA, India has the highest number of USFDA approved plants for generic drugs manufacture.

·Leading Indian Pharma companies derive about 50% of their turnover from International business.

·In 2017, Indian pharmaceutical sector witnessed 46 merger & acquisition (M&A) deals worth US$ 1.47 billion.

·The government enriched further mechanisms such as the Drug Price Control Order and the National Pharmaceutical Pricing Authority to deal with the issue of affordability and availability of medicines also it has been planned to set up an electronic platform to regulate online pharmacies under a new policy, in order to stop any misuse due to easy availability.

OPPORTUNITIES AND THREATSAs the industry is rapidly embracing transformational changes, opportunities for generics remain strong and positive across the globe, with an increasing demand for affordable, safe, and effective medicines. The pharmaceutical industry is highly competitive and the challenges are from both the Indian manufacturers who have similar production facilities as well as those abroad. Human resources with similar skills, talents and experiences in the industry are mobile between competing companies. The key growth drivers of Indian Pharmaceutical market are, increasing in per capita income, better health awareness, increase in health insurance penetration, higher government expenditure on the health care, shift in disease profile and adherence to Indian Pharmaceutical Association (IPA) norms.Price pressures are intense and are expected to remain so. Going forward, there is a risk of inability to maintain current margins on its products. Competing pharmaceutical companies have several similar bioequivalent products in the same market manufactured at facilities that have been approved by the highest regulatory authorities. All of them stay focused on the same markets resulting in price elasticity being tested and margins eroding. Number of beds are increasing by opening of newer hospitals and nursing homes which will be additional market for PDIL in meeting with the demands of medical fraternity.However, PDIL is a dominant player in the manufacturing of IV fluids business and has been able to control its quality, improve timelines, be competitive on its costs and has the ability to deliver at short notice. Opportunity for PDIL is there in the offering of new Eurohead bottles which will further enhance the segment of offerings of IV fluids manufactured by PDIL.Eurohead bottles are the latest technology in IV fluids bottle where in the patient does not have any dangers of contamination.Despite the weaknesses of the industry, the growth of this industry is expected greatly because there is increased export potential. It is also expected that the export of generic drugs to the developed markets will increase. There is immense scope to position India as a centre for international clinical trials. It is also expected that India will be a key player in global pharmaceutical R&D.

SEGMENT WISE PERFORMANCEThe company is dealing in only one segment i.e. pharmaceutical. During the year under review, the company has produced and delivered the demanded products with utmost efficiency and effectiveness.

OUTLOOKThe pharmaceutical industry is developing at an unusually rapid pace. Manufacturing companies are confronted with enormous challenges due to high market growth, new medicines and therapy forms, changing regulations and progressing digitization. The Indian healthcare market is an amalgamation of many markets in one, given the disparity in income levels and access to healthcare. All in all, the proportion of people aged 65 to 80 will rise to 28 percent, compared to 22 percent in 2000. This could see an increase in the demand for better healthcare including well equipped hospitals/facilities, larger number of healthcare professionals and making available drug at affordable price. The Indian pharmaceutical market is huge and compared to the world market, the contribution is less than its potential. The focus on other than generic market is the need of the time and Indian pharmaceutical companies constantly searching for new avenues in the innovation driven sector.


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The constant increase in the size of the Indian pharmaceutical market, due to a change in life style and high demand for quality health care, making this sector as a one of the promising contributors of the Indian economy. The regulatory policies may further be strengthened.Our marketing efforts are focused on ramping up revenues across all the geographies. The Company will build on its customer touch points which are consignee agents and hospitals and relationships to reach higher volume of niche and differentiated products. Overall, the emphasis will be both on the revenues as well as the bottom line.Manufacturing costs will continue to remain a focus area. PDIL has a good foundation of reliable sources and cost effective manufacturing systems and is exploring further ways of reducing costs and strengthening competitiveness. Capacity utilization is improving at all production units.The Company has set a vision to build business that impact their respective addressable markets, are respected for customer centric products and services, meet industry benchmarks in productivity of resources, are recognised for quality and compliance standards and in the ultimate analysis, create societal wealth for all stakeholders. In financial terms, the objective is to lower volatility, strive for higher predictable and calibrated growth and improve EBITDA margin and Return on Investment higher than industry average. The target is to stay cash flow positive, improve the quality of the financial statements, lower the leverage, reduce interest outgo and expand earnings year-on-year. Also, PDIL is adapting to the changing trends that are shaping and changing the industry, and will continue to do so for the foreseeable future.With industry changing at such a frenetic pace, we are closely monitoring the pulse of these transformations, and remain nimble, agile and adaptive in responding to challenges and opportunities, to maintain competitive advantage and to stay ahead of the curve.Further, PDIL will capitalize on its inherent strengths, some of which are given below:

·Cost effective automated continuous process systems;

·Current Good Manufacturing Practices;

·Best-in-class, best-in-cost, large manufacturing capacity;

·Highly skilled professionals with regulatory expertise and competent to deliver on development, product processes and regulatory standards;

·Access to new technologies.

RISKS AND CONCERNSPDIL has aligned risk management process with every part of the critical business processes to ensure that the processes are designed & operated effectively towards the achievement of business objectives. Risks are identified & assessed across all key business functions in a holistic manner rather than in silos. PDIL's core values and ethics also provide the platform for the Company's risk management practices.The following broad categories of risks to the business objectives have been considered in the risk management framework:

Interest Rate risk: High interest rate and debt burden is adversely affecting profitability of the financials of the Company.

Strategic risks: Risks emerging out of the choices PDIL makes on markets, product & process development, resources, business growth & revenue model, acquisitions, investment model, business sustainability which can impact the Company's competitive advantage in medium and long term.

Operational risks: Inherent risks to business operations such as production capacities, quality assurance, customer demands, material availability, human safety and skilled manpower. Operational risks are assessed primarily in terms of process design and its effectiveness.

Compliance risks: Risks arising due to adverse developments in regulatory environment and statutory provisions that potentially impact the Company's business objectives and may lead to loss of reputation.

Financial & reporting risks: Identifying risks in business unit plans to achieve their financial performance targets of revenue and profit goals and also the Company as a whole. These risks could have potential impact on the Company's financial statements and transmission of timely and accurate financial information to stakeholders.

Information technology (IT) risks: These risks could have potential impact on information assets and processing systems.

INTERNAL CONTROLS AND ADEQUACYPDIL is a responsible public company committed to maintain highest standards of ethics and transparency. We have well defined and adequate internal control system for operations of the Company and its subsidiaries. It is designed to ensure operational efficiency, protection and conservation of resources, accuracy and promptness in financial reporting and compliance with laws and regulations, which is supported by an internal audit process for reviewing the adequacy and efficacy of the Company's internal control, including its systems and processes and compliance with regulations and procedures. Internal Audit Reports are discussed with the Management and are reviewed by the Audit Committee of the Board which also reviewed the adequacy and effectiveness of the internal controls in the Company. The Company is well staffed with experienced and qualified personnel who play an important role in implementing and monitoring the internal control environment and compliance with statutory requirements.As part of the quarterly review with Audit Committee, status of the annual audit plan, key audit findings and remediation status of prior findings are presented. The Audit Committee discusses with the Company's Statutory Auditors, their views on the financial statements, including the financial reporting system, compliance to accounting policies and procedures, the adequacy and effectiveness of the internal controls and systems followed by the Company.

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DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCEThe revenue from operations for the year under review was Rs. 32.97 crores as against Rs.52.65 crores in the previous year. The Company recorded a loss before interest, depreciation and tax of Rs.14.49 crores during the year as against loss before interest, depreciation and tax of Rs. 32.12 crores in the previous year and recorded a loss after interest, depreciation and tax of Rs. 96.09 crores during the year as against a loss of Rs. 114.08 crores during the previous year. The loss was due to overall liquidity crunch being faced by the company resulting in low turnover and productivity and thereby higher costs. As a result, the company is under stress and finding viable solutions under consultation with the lender banks.

QUALITYCompany firmly believes that quality has to be inculcated in every area of operation of the company. Various continuous quality improvement programmes including Total Quality Management (TQM) are built in to the annual business and operating plans and implemented to sustain inherent efficiency and competitiveness in value delivery to the stake holders and to the society at large. Benchmarking the Good Manufacturing Practices with best in class is continuously pursued in all endeavors to improve efficacy in use of the resources and accomplish the deliverables: Safety, Health and Environment.Company continues to look for new methods to enhance health and safety training and awareness for employees.

HUMAN RESOURCESThe Company believes that people are its biggest assets and thus works on the concept of human empowerment and the same can be appreciably seen in the growth of the company in-spite of all odds. During the year, the company continued its efforts aimed at improving the human resource policies and processes to enhance its performance. During the year under review, the industrial relations continued to be cordial.

st As on 31 March, 2018, there were 900 permanent employees on the rolls of the company.

CAUTIONARY STATEMENTStatements in the “Management Discussion & Analysis Report” describing company's strategy, business and financial analysis are in the nature of judgments and forward looking statements. Actual results may differ materially from those expressed in the statement. Important factors that could influence the Company's operations include change in Government regulations, tax laws, economic and political developments within and outside the country and such other factors.

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1. Company's Philosophy on Code of Corporate GovernanceCorporate Governance is the acceptance by management of the inalienable rights of shareholders as the true owners of the company and of their own role as trustees on behalf of the shareholders. It is about commitment to values, about ethical business conduct and about making a distinction between personal and corporate funds in the management of a company.The corporate governance framework of the Company reflects a system of checks and balances between the powers of the shareholders, the Board of Directors and the management with the goal to safeguard the interests of its shareholders while creating sustainable value.The core values of the Company's governance process include independence, integrity, accountability, transparency, responsibility and fairness. The business policies are based on ethical conduct, health, safety and a commitment to build long term sustainable relationships. The Company is committed to continually evolve and adopt appropriate corporate governance best practices.2. Board of Directors a. Composition of the Board:Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 stipulates that the Board of Directors of the company shall have an optimum combination of executive and non-executive directors with at least one woman director and not less than fifty percent of the Board of Directors comprising non-executive directors. Also, atleast 50 per cent of the Board should consist of Independent Directors, if the Chairman of the Board is regular non-executive Chairman and promoter of the company.The Board of Directors of the company comprises of nine (9) directors. Out of these, two (2) are Executive Directors including a Managing Director, who are also Promoter Directors. two (2) are Promoter Directors, four (4) are Independent Director and one (1) is a Nominee Director appointed by the lender bank.All the Independent Directors possess requisite qualification and experience in general corporate management, finance, banking, legal and other allied fields enabling them to contribute effectively in the capacity of Director of the Company. The Company has received declaration from all the Independent Directors stating that they meet with the criteria of independence as prescribed under sub-section (6) of section 149 of the Companies Act, 2013.The Board of Directors of the Company after reviewing the declarations submitted by the Independent Directors, is of the opinion that the said Directors meet the criteria of independence as per section 149(6) of the Companies Act, 2013 and the rules made there under and are independent of the Management and also meet with the requirements of Regulation 16(1)(b) of the Securities and Exchange Board of India ( Listing Obligations and Disclosure Requirements) Regulations, 2015, for being the Independent Directors on the Board of the company.Further, the company complies the provisions of section 149 read with Schedule IV of the Companies Act, 2013 and Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company has organized familiarization programmes for Independent Directors, details of which are displayed on the company's website, the web link of which is http://www.pdindia.com/docs/familiarizationprogrammme.pdfb. Number of Board meetings and dates on which meetings were held:The Board of Directors met six (6) times during the financial year 2017-18. The maximum time gap between the two (2) consecutive meetings did not exceed one hundred and twenty(120) days. The details of the date(s) on which the meetings were held are as follows:

Out of the seven (7) Non-Executive Directors

c. Attendance of each director at the Board meetings and the last Annual General Meeting and details of Directorship/ Committee positions held:

As mandated by Regulation 26 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, none of the Director on the Board is a member of more than ten (10) Committees and Chairperson of more than five (5) such Committees across all such companies in which he/she is a Director.Table herein below give the names and category of directors, number of Board meetings held, attendance of each director at the Board meetings, the last Annual General Meeting and number of other Boards or Board Committees in which they are member or Chairperson:

REPORT ON CORPORATE GOVERNANCE

Sr.No. Date Day Time 1. Tuesday 11:00 A.M. 2. Monday 11:30 A.M. 3. Thursday 11:30 A.M. 4. Thursday 11:30 A.M. 5. Friday 03.00 P.M. 6.

30th May, 2017 14th August, 2017 14th September, 2017 14th December, 2017 22nd December, 2017 14th February, 2018 Wednesday 04.00 P.M.

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Notes:- st1. Shri Dilip Kumar Panchaity (DIN: 00081328) resigned from directorship on 1 May, 2017.

th2. The office of directorship of Shri Sandeep Vyas (DIN:07652129) was vacated w.e.f. 13 June, 2018.3. The designation of Shri Manohar Lal Gupta (DIN: 00040784) and Shri Anil Mittal (DIN: 00039133) was changed from Executive

Director to Non-Executive Promoter Director. 4. Shri Vinod Kumar Gupta (DIN: 00039145), Shri Manohar Lal Gupta (DIN: 00040784) and Shri Govind Das Garg (DIN: 00520067)

are related to each other.

d. Particulars of the Directors seeking appointment/re-appointment:1. Shri Govind Das Garg (DIN:00520067)Shri Govind Das Garg is aged 71 years and being promoter director of the company, managing affairs of the company from very beginning and has been instrumental in bringing the company to this stage.

He has almost 40 years of working experience in diversified business activities including experience in pharmaceutical industry. He is basically looking into the technical issues and purchases in the company. He has been working as Whole-Time Director of the company since 1994 and has made pioneer contribution in the growth of the company.

thHe was re-appointed as Whole-Time Director at the Annual General Meeting by the members held on 29 September, 2017 for a stperiod of three (3) years commencing from 1 January, 2018, who is liable to retire by rotation and his tenure as Whole-Time Director

stis expiring on 31 December, 2020. He is related to Shri Manohar Lal Gupta (DIN: 00040784), Chairman and Shri Vinod Kumar Gupta (DIN:00039145), Managing Director of the Company. He does not hold directorship and membership of committees of the Board of any of the listed entities.

2. Shri Vinod Kumar Gupta (DIN:00039145)Shri Vinod Kumar Gupta is aged 68 years and being promoter director of the company, managing affairs of the company from very beginning and has been instrumental in bringing the company to this stage.He has almost 46 years of working experience in pharmaceutical industry and has wide experience in various business activities and

th stwas appointed as Managing Director of the company on 30 September, 2013 for a period of five years w.e.f. 1 January, 2014 and his sttenure is coming to an end on 31 December, 2018. The Nomination and Remuneration Committee and the Board of Directors of the

th thcompany recommended his appointment at their meetings held on 29 June, 2018 and 14 August, 2018 respectively and will not be liable to retire by rotation.He is related to Shri Manohar Lal Gupta (DIN: 00040784), Chairman and Shri Govind Das Garg (DIN: 00520067), Whole Time Director of the Company. He does not hold directorship and membership of committees of the Board of any of the listed entities.

3. Shri Manish Verma (DIN:08168517)According to the provisions of section 149 of the Companies Act, 2013 and Regulation 17 of the Securities and Exchange Board of

Sr. No.

Name of the Director Category of Director

(Promoter, Executive,

Non-Executive, Independent)

No. of Directorship/ (Committees

membership) of other Companies

No. of Board Meetings Whether attended

Last Annual General Meeting

Held Attended

1. 3Shri Manohar Lal Gupta (DIN: 00040784)

Promoter/ Executive

8 (0) 6 5 -

2. Shri Vinod Kumar Gupta (DIN:00039145)

Promoter/ Executive

10 (1) 6 5 -

3. Shri Govind Das Garg (DIN: 00520067)

Promoter/ Executive

6 (1) 6 4 -

4. 3Shri Anil Mittal (DIN: 00039133)

Promoter/ Executive

5 (0) 6 4 -

5. Shri Dharam Pal Khanna (DIN: 00041106)

Non-Executive /Independent

Nil 6 6 -

6. Shri Dilip Kumar Panchaity1 (DIN: 00081328)


1 (2) 6 0 -

7. Smt. Deepali Garhewal (DIN: 05302559)


1 (2) 6 6 Yes

8. Shri Sandeep Vyas2 (DIN:07652129)


0(0) 6 0 -

9. Shri Balkrishna V. Chaubal (DIN: 06497832)

Nominee Director

2 (0) 6 6 -

10. Shri Dilip Kumar Sinha (DIN:00366192)


2(0) 6 5 Yes

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India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the board of directors have appointed Shri Manish Verma th(DIN:08168517) as an Additional & Non-Executive Independent Director on the Board of the Company w.e.f. 29 June, 2018, subject

to approval of the members of the company at the ensuing Annual General Meeting. It is proposed to appoint Shri Manish Verma th st(DIN:08168517) as an Independent Director w.e.f. 29 June, 2018 till 31 January, 2021.

Shri Manish Verma (DIN:08168517) is a Commerce and Law graduate having eight (8) years of working experience as a High Court Advocate. He has vast experience in handling civil, revenue and allied matters.Presently, he is not a director on the Board of any other Company. Further, he does not hold Chairmanship in any of the Board Level Committees of other companies.

3. COMMITTEES OF THE BOARDIn compliance with the requirements of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013, the Board has constituted the following committees:A. Audit CommitteeB. Nomination and Remuneration CommitteeC. Stakeholders Relationship CommitteeD. Executive & Borrowing Committee E. Risk Management Committee

A. AUDIT COMMITTEEi. TERMS OF REFERENCE AND ROLE OF AUDIT COMMITTEE:The scope and function of the Audit Committee is to regularly review the internal control systems and procedures, accounting policies and other matters that protect the interest of the stakeholders, ensure compliance with the laws and monitor with a view to provide effective supervision of the management's process, ensure accurate, timely and proper disclosures, transparency, integrity and quality of financial reporting. The composition, procedures, powers and role/functions of the Audit Committee constituted by the company comply with the requirements of Regulation 18 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 and provisions of section 177(1) of the Companies Act, 2013. The Audit Committee plays the role as specified under the Companies Act, 2013 and the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015.

ii. COMPOSITION:In accordance with the provisions of Regulation 18 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the company has set up a qualified Audit Committee. The Audit Committee of the company

stcomprises of three(3) directors including two(2) Independent Non-Executive Directors as members as on 31 March, 2018. However, st thShri D. K. Panchaity (DIN: 00081328) resigned from the Committee w.e.f. 1 May, 2017, the committee was re-constituted on 16 May,

2017, and presently, it comprises of three (3) directors including two (2) Independent Non-Executive Directors as members. All the members of the Audit Committee are financially literate and have accounting or related financial management expertise. The Audit Committee comprises of the following directors:

1. Shri Dharam Pal Khanna, Chairman (DIN: 00041106)

2. Shri Dilip Kumar Sinha, Member(DIN: 00366192)

3. Shri Anil Mittal, Member(DIN: 00039133) The Company Secretary of the company is the Secretary of the committee.

iii. MEETINGS AND ATTENDANCE: sta. During the financial year ended on 31 March, 2018, six (6) meetings of the Audit Committee were held, as follows:

Sr.No. Date Day Time 1. 29th May, 2017 Monday 04:30 P.M. 2. 14th August, 2017 Monday 10:30 A.M. 3. 13th September, 2017 Wednesday 04:30 P.M. 4. 13th December, 2017 Wednesday 04:30 P.M. 5. 22nd December, 2017 Friday 02:30 P.M. 6. 14th February, 2018 Wednesday 03:30 P.M.

b.Attendance of each member at the Audit Committee meetings held during the year:

st*Shri D. K. Panchaity (DIN:00081328) resigned on 1 May, 2017.

Name Number of meetings during the year 2017-18 Held Attended

*Shri Dilip Kumar Panchaity (DIN: 00081328) 6 0 Shri Dharam Pal Khanna (DIN: 00041106) 6 6 Shri Dilip Kumar Sinha (DIN: 00366192) 6 5

Shri Anil Mittal (DIN: 00039133) 6 3

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Further, the Chairman of the Audit Committee is an Independent Director and was not present at the Annual General Meeting of the thcompany held on 29 September, 2017 due to some unavoiable circumstances and authorised a member of the committee to attend

the Anuual General Meeting on his behalf to answer shareholders' queries. The maximum time gap between two (2) consecutive meetings did not exceed four (4) months. The minutes of the Audit Committee meetings are taken on record by the Board.

In accordance with the provisions of section 178 of the Companies Act, 2013 read with Rule 6 of the Companies (Meetings of Board and its Powers) Rules, 2014 and Regulation 19 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, role of the said committee is as under:

1. Formulation of criteria for determining qualifications, positive attributes, independence of a director and recommend to the Board a policy relating to, the remuneration of directors, key managerial personnel and other employees.

2. Formulation of criteria for evaluation of performance of independent directors and board of directors.

3. Devising a policy on diversity of Board.

4. Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down and recommend to the Board of Directors their appointment and removal.

5. Whether to extend or continue the term of appointment of the independent director, on the basis of report of performance evaluation of independent directors.

ii. COMPOSITION:In accordance with Regulation 19 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 and section 178 of the Companies Act, 2013 read with the rules framed thereunder, the committee comprises of

ththree (3) directors, all of whom are Non-Executive and Independent Directors. The Committee has been reconstituted on 16 May, st th2017 due to the resignation of Shri D. K. Panchaity (DIN:00081328) on 1 May, 2017 and was again reconstituted on 29 June, 2018.

The Nomination and Remuneration Committee comprises of the following Independent Non-Executive Directors:1. Shri Dharam Pal Khanna, Chairman (DIN: 00041106)2. Smt. Deepali Garhewal, Member (DIN: 05302559)3. Shri Manish Verma, Member (DIN:08168517)

thShri D. K. Panchaity (DIN:00081328) was the Chairman of the committee till 30 April, 2017. The office of directorship of Shri Sandeep thVyas (DIN:07652129) vacated on 13 June, 2018. Shri Manish Verma (DIN:08168517) was appointed as member of the committee

thw.e.f. 29 June, 2018.The Company Secretary of the company is the Secretary of the committee.

iii. MEETING AND ATTENDANCE: sta. During the financial year ended on 31 March, 2018, one (1) meeting of the Nomination and Remuneration Committee

was held, as follows:

B. NOMINATION AND REMUNERATION COMMITTEE

i. TERMS OF REFERENCE AND ROLE OF NOMINATION AND REMUNERATION COMMITTEE:

Sr.No. Date Day Time 1. 11th August, 2017 Thursday 05.00 P.M.

Name Number of meetings during the year 2017-18

Held Attended Shri Dharam Pal Khanna (DIN: 00041106) 1 1 *Shri Dilip Kumar Panchaity (DIN: 00081328) 1 0 Smt. Deepali Garhewal (DIN: 05302559) 1 1 Shri Sandeep Vyas (DIN:07652129) 1 1

b. Attendance of each member at the Nomination and Remuneration Committee meetings held during the year:

st*Shri D. K. Panchaity (DIN:00081328) resigned on 1 May, 2017

iv. REMUNERATION POLICY:The policy of the company on directors' appointment including criteria for determining qualifications, positive attributes, independence of a Director and a policy relating to remuneration of Director, Key Managerial Personnel and other employees provided under section 178 of the Companies Act, 2013 is in place. The remuneration policy is directed towards rewarding performance based on review of achievements on a periodical basis. The remuneration policy is in consonance with the existing industry practices.

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Notes:1.

4. The remuneration to the Executive Directors is being paid as per the approval of the shareholders at the general body meeting and Schedule V of the Companies Act, 2013..

5. The Chairman, Managing Director and Whole-Time Directors receive only salary without any perquisites, allowances and performance link incentives except bonus amount of Rs.7000/- paid to Shri Anil Mittal (DIN:00039133) while all the Non-Executive Directors receive sitting fees only.

6. Service contract has been executed between the company and Executive Directors. The services of Executive Directors are subject to the personnel policy of the company. No severance fees is payable to Executive Directors.

7. There is no other component of remuneration to the Promoter and Executive Directors. 8. Presently, the company does not have a scheme for grant of Stock Options either to the Executive Directors or employees.

9. Shri Anil Mittal (DIN: 00039133) is holding 1866 equity shares. None of the Non-Executive Directors of the company holds shares except Shri Dilip Kumar Sinha (DIN: 00366192) who holds 1333 equity shares of the company. None of the Non-Executive Directors of the company holds convertible instruments of the company.

10. Shri Vinod Kumar Gupta (DIN: 00039145), Shri Manohar Lal Gupta (DIN: 00040784) and Shri Govind Das Garg (DIN: 00520067) are related to each other and are the promoter directors of the company.

11. All other directors do not have any pecuniary relationship with the company, other than receipt of remuneration/sitting fees.The company does not pay commission or performance linked incentives to any of the director(s).

C. STAKE HOLDERS RELATIONSHIP COMMITTEE

i. TERMS OF REFERENCE AND ROLE OF STAKEHOLDERS RELATIONSHIP COMMITTEE: In accordance with the provisions of section 178(5) of the Companies Act, 2013 and Regulation 20 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, 'Stakeholders Relationship Committee' has been constituted. The roles of the said committee are as under:1. To specifically look into the redressal of shareholders and investors complaints like:

Ÿ Transfer of shares;

Ÿ Non-receipt of balance sheet;Ÿ Non-receipt of declared dividend; etc.

2. To consider and resolve the grievances of the security holders of the company.

ii. COMPOSITION:thThe Stakeholders Relationship Committee has been reconstituted on 16 May, 2017 due to the resignation of Shri D. K. Panchaity

st(DIN:00081328), Independent Director of the Company, w.e.f. 1 May, 2017.The Stakeholders Relationship Committee is headed by a Non-Executive Director comprising of the following Directors:

The designation of Shri Manohar Lal Gupta (DIN: 00040784) and Shri Anil Mittal (DIN: 00039133) was changed from Executive Director to Non-Executive Promoter Director.

st2. Shri D. K. Panchaity (DIN:00081328) resigned on 1 May, 2017.

3. But not paid

12.

v. REMUNERATION PAID TO THE DIRECTORS DURING THE FINANCIAL YEAR 2017-18:

Sr. No. Name of the Director

Nature of Directorship

Salary, Perquisites / Sitting Fees (Rs.)

1. 1Shri Manohar Lal Gupta (DIN: 00040784) Executive 315,00,000

2. Shri Vinod Kumar Gupta (DIN: 00039145) Executive 315,00,000

3. Shri Govind Das Garg (DIN: 00520067) Executive 315,00,000

4. Shri Anil Mittal 1(DIN: 00039133) Executive 315,00,000

5. Shri Dharam Pal Khanna (DIN: 00041106) Non-Executive 36,000

6. 2Shri Dilip Kumar Panchaity (DIN: 00081328) Non-Executive NIL

7. Shri Dilip Kumar Sinha (DIN: 00366192) Non-Executive 20,000

8. Smt. Deepali Garhewal (DIN: 05302559) Non-Executive 24,000

9. Shri Sandeep Vyas (DIN:07652129) Non-Executive 2,000

10. Shri Balkrishna V. Chaubal (DIN: 06497832) Nominee 12,000

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Table herein below gives the details of the attendance of each member of the committee:

Name Number of meetings during the year 2017-18

Held Attended Shri Dharam Pal Khanna (DIN: 00041106) 4 4

* Shri D. K. Panchaity (DIN: 00081328) 4 0

st*Shri D. K. Panchaity (DIN:00081328) resigned on 1 May, 2017.

1. Shri Dharam Pal Khanna, Chairman (DIN:00041106)

2. Smt. Deepali Garhewal, Member (DIN: 05302559)The Company Secretary is the Compliance officer of the Company and the Secretary of the committee.iii. MEETING AND ATTENDANCE:

stDuring the financial year ended on 31 March, 2018, four (4) meetings of the Stakeholders Relationship Committee were held, details of which are as under:

Sr. No. Date Day Time 1.

th 29 May, 2017 Monday 04:00 P.M. 2. 11 August, 2017th Friday 04:30 P.M. 3. 13 , 2017th December Wednesday 03:30 P.M. 4. 14 February, 2018th 03:00 P.M. Wednesday

Smt. Deepali Garhewal (DIN: 05302559) 4 4

iv. DETAILS OF COMPLAINTS DURING THE YEAR:The company has not received any compliants during the financial year 2017-18. Therefore, no complaints were pending at the end

stof financial year 31 March, 2018 in the above respect.

D. EXECUTIVE AND BORROWING COMMITTEEi. TERMS OF REFERENCE AND ROLE OF EXECUTIVE AND BORROWING COMMITTEE:

thIn accordance with the Articles of Association of the Company, the Board of Directors at their meeting held on 30 May, 2014 th thconstituted the 'Executive and Borrowing Committee', reconstituted on 30 May, 2015 and again re-constituted on 30 May, 2017

and revised roles of the said committee are as under:1. To open/close all types of Banking Accounts, to appoint/withdraw authorized signatory to Bank Accounts, to issue

instructions to Banks with regard to operation of Accounts and all matters related to Banking including issue of duplicate Fixed Deposit/Demand Draft for an amount not exceeding Rs. 10,00,000/- (Rupees Ten Lacs).

2. To authorize employees/other persons for doing the needful on behalf of the Company for routine business transactions under various acts, rules, regulations, guidelines etc.

3. To authorize employees/other persons on behalf of the Company to sign the petition, vakalatnama, to appoint counsel, to give statements and attend the hearing for various legal cases under various enactments.

ii. COMPOSITION:The 'Executive and Borrowing Committee' is headed by Executive Director which comprises the following Directors:

1. Shri Vinod Kumar Gupta, Chairman (DIN: 00039145) 2. Shri Anil Mittal, Member (DIN: 00039133)3. *Shri Dilip Kumar Panchaity, Member (DIN: 00081328)

st* Shri D. K. Panchaity (DIN:00081328) resigned on 1 May, 2017.The Company Secretary of the company is the Secretary of the committee.

E. RISK MANAGEMENT COMMITTEEIn accordance with the provisions of erstwhile clause 49 of the Listing Agreement, the Board of Directors of the company at their

thmeeting held on 25 May, 2015 constituted 'Risk Management Committee' to monitor and review the risk management plan framed by the Board of the Company. However, pursuant to Regulation 21 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the requirement of constituting Risk Management Committee is applicable to top 100 listed entities determined on the basis of market capitalization, as at the end of the immediate preceding financial year. Therefore, the company is not required to comply with the said regulation.

4. GENERAL BODY MEETINGi. ANNUAL GENERAL MEETINGS:The location and time of the last three (3) Annual General Meetings are as under:

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ii. POSTAL BALLOT:Ÿ

conducted by M/s Geetika Agrawal & Co., Practising Company Secretaries, Indore, Scrutinizer, who scrutinized the remote e-voting and postal ballot process in a fair and transparent manner.

Ÿ The Company does not propose to pass any Special Resolution through Postal Ballot.

5. SUBSIDIARY COMPANIESThe company has two(2) unlisted Indian public companies as its subsidiaries. 2018, M/s. Infutec Healthcare Limited has ceased to be a material non-listed Indian subsidiary of the company. The criteria of atleast one independent director on the Board of Directors of material non-listed Indian subsidiary company was applicable to the company during the financial year 2017-18. In order to comply with the said Regulation 24 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, M/s. Infutec Healthcare Limited had appointed Smt. Deepali Garhewal (DIN: 05302559) as an Independent Director on its Board.Further, the Audit committee also reviews the financial statements, in particular, the investments made by the unlisted subsidiary companies. In addition to above, pursuant to Regulation 24 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the minutes of the Board meetings of the company's unlisted subsidiary companies and a Statement of all significant transactions and arrangements entered into by the unlisted subsidiary company are placed before the Board on quarterly basis. The company had only one 'material' subsidiary in which the income generated by the subsidiary is more than 20 per cent of the

stconsolidated income of the company during the financial year ended on 31 March, 2018. Although, the company has formulated a policy for determining 'Material' subsidiaries which is also disclosed on the website of the company, the web link of which is http://www.pdindia.com/docs/policyfordeterminingmaterialsubsidiaries.pdfA statement pursuant to section 129 of the Companies Act, 2013, relating to subsidiary companies is given along with the financial statements of the company and is forming part of this Annual Report. The Annual Accounts and related documents of the subsidiary companies shall be kept open for inspection at the registered office of the company. Further, pursuant to IND AS 24 issued by the Institute of Chartered Accountants of India, Consolidated financial statements presented by the company in this Annual Report includes the financial information of its subsidiaries.Further, after the closure of the financial year 2017-18, Infutec Healthcare Limited has ceased to be a subsidiary of the company and accordingly, Smt. Deepali Garhewal (DIN: 05302559), Independent Director has resigned from the Directorship of the said subsidiary company.

6. DISCLOSURESi. RELATED PARTY TRANSACTIONS

There are no materially significant related party transactions that may have potential conflict with the interests of company at large during the financial year 2017-18. Details of related party transactions are given in Note No. 34 of the Financial Statements. The company has formulated a policy on materiality of related party transactions and also on dealing with Related Party Transactions which is also disclosed on the website of the company, the web l ink of which is http://www.pdindia.com/docs/policyondealingwithrelatedpartytransactions.pdf

ii. DISCLOSURE ON ACCOUNTING TREATMENTThe company has followed the Accounting Standards as notified by the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time, in the preparation of financial accounts.

iii. RISK MANAGEMENTPursuant to Regulation 21 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the requirement of constituting Risk Management Committee is applicable to top 100 listed entities determined on the basis of market capitalization, as at the end of the immediate preceding financial year. Therefore, the company is not required to comply with the said regulation.

iv. DETAILS OF NON-COMPLIANCES BY THE COMPANYThere has been no instance of material non-compliance by the company on any matter related to capital markets, during the last three (3) years and no penalties or strictures have been imposed on the company by Stock Exchange(s), SEBI or any other statutory authority.

The company has passed a Special Resolution through postal Ballot in the last financial year. The postal ballot exercise was

Financial

Year ended Date of Annual General

Meeting Time Venue No. of Special

Resolutions passed 31st March,

2017 29th September, 2017 9.30 A.M. The Classique Club, Behind

Infinity Mall, Link Road, Oshiwara, Andheri (West), Mumbai-400 053

Two(2)

31st March, 2016

26th September, 2016 9:30 A.M. -do- None

31st March, 2015

31st August, 2015 9:30 A.M.

-do- Seven(7)

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v. WHISTLE BLOWER POLICY/VIGIL MECHANISMIn terms of provisions of sub-section (9) of section 177 of the Companies Act, 2013 read with Companies (Meetings of Board & its Powers) Rules, 2014, every listed company is required to establish a vigil mechanism for their directors and employees to report their genuine concerns or grievances.The companies which are required to constitute an audit committee shall oversee the vigil mechanism through the committee and if any of the members of the committee have a conflict of interest in a given case, they should not involve themselves and the others on the committee would deal with the matter.The vigil mechanism shall provide for adequate safeguards against victimization of employees and directors who avail the vigil mechanism and also provide for direct access to the Chairperson of the Audit Committee or the director nominated to play the role of the Audit Committee, as the case may be, in exceptional cases.Thus, in the light of the said provisions, the company has established a vigil mechanism to look into the matters abovementioned. The company has conveyed existence of Whistle Blower Policy to all its employees and it is hereby affirmed by the Board that no personnel has been denied access to the Audit Committee.

vi. MANAGEMENT DISCUSSION AND ANALYSIS REPORTManagement Discussion and Analysis Report is given in a separate section forming part of this Annual Report.

vii. CODE OF CONDUCTThe Board has laid down a code of conduct in accordance with the regulations of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, with the Stock Exchange(s), for all the Board members and senior management which is also posted on the website of the Company. The duties of all Board members and Senior Management Personnel have been suitably incorporated in the Code of Conduct and they have affirmed compliance with the said code. The Annual Report of the company contains a declaration to this effect signed by the Managing Director as part of the Corporate Governance Report.

viii. MANDATORY AND NON-MANDATORY REQUIREMENTSThe company has complied with all the mandatory requirements of Regulation 34 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 except appointment of Chief Financial Officer. Non-mandatory requirements are being complied in a phased manner.

ix. CEO CERTIFICATIONAs required under Regulation 34 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the CEO Certificate is annexed to this Annual Report.

x. AUDITORS' CERTIFICATIONAs required under Regulation 34 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the company has obtained a Certificate from the auditor regarding compliance of conditions of corporate governance as stipulated in the regulation and is annexed with this report.

xi. COMPLIANCE ON CORPORATE GOVERNANCE The Quarterly Compliance Report has been submitted to the Stock Exchange(s) where the company's equity shares are listed in

the requisite format duly signed by the Compliance Officer/ Managing Director.

xii. DISCLOSURES WITH RESPECT TO DEMAT SUSPENSE ACCOUNT/ UNCLAIMED SUSPENSE ACCOUNT The Company is not required to make disclosure with respect to demat suspense account/unclaimed suspense account as the conditions mentioned in Part F of Schedule V of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulations, 2015 as the same is not applicable to the company.

7. MEANS OF COMMUNICATIONIn accordance with Regulation 46 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the company has maintained a functional website namely www.pdindia.com, containing basic information about the company such as details of its business, financial information, shareholding pattern, compliance with Corporate Governance, contact information of the designated official of the company who is responsible for assisting and handling investor grievances, etc. towards this end:

i.Financial Results: The annual, half-yearly and quarterly results are regularly posted by the company on its website. These results are also submitted to the Stock Exchange(s) in accordance with the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 and simultaneously published in English newspaper 'Financial Express' and Marathi newspaper 'Apla Mahanagar'.ii.Website: The company's website namely www.pdindia.com contains a separate dedicated section 'Investors' where shareholders information is available. Full annual report is also available on the website in a user friendly and downloadable form.

iii.Corporate Filing: Announcements, Quarterly Results, Shareholding Pattern etc. of the company are regularly filed by the company and are also available on the website of 'Bombay Stock Exchange Limited'– www.bseindia.com and 'National Stock

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vii. Market Price Data The monthly high and low price and volume of shares of the company at Bombay Stock Exchange Limited and National Stock

stExchange of India Limited for the year ended 31 March, 2018 are as under:

Exchange of India Limited'– www.nseindia.com.

a) NSE Electronic Application Processing System (NEAPS): The NEAPS is a web based application designed by NSE for corporate uploading. The company regularly files corporate information on this website.

b) BSE Listing Centre: The BSE Listing Centre is a web based application designed by BSE for corporate uploading. The company regularly files corporate information on this website.

iv.SEBI Complaint Redress System (SCORES): The investor complaint(s) are processed in a centralized web based complaint redress system. The salient features of this system are Centralized database of all complaints, online upload of Action Taken Reports (ATRs) by the concerned companies and online viewing by investors of action taken on the complaint and its current status.Apart from the above, the company has not displayed any official news release(s) and not made presentation(s) to institutional investors or to the analysts.

8. GENERAL SHAREHOLDER INFORMATION

i. 34th Annual General Meeting

Date Saturday, 29th September, 2018 Time 9:30 A.M. Venue The Classique Club, Behind Infinity Mall, Link Road, Oshiwara, Andheri (West),

Mumbai-400 053

ii. Financial Year 1st April, 2017 to 31st March, 2018

iii. Date of Book Closure rd thSunday, 23 September, 2018 to Saturday, 29 September, 2018 (both days inclusive) iv. Dividend Payment Date None, as no dividend has been recommended for the year v. Listing on Stock Exchange(s) The equity shares of the company are listed on following premier Stock Exchange(s)

of India: National Stock Exchange of India Limited (NSE) Bombay Stock Exchange Limited (BSE)

vi. Stock Code BSE

Stock Code PARENTLD

Scrip Code 524689

NSE PDPL EQ ISIN INE904D01019 (NSDL & CDSL) CIN L24100MH1983PLC126481

Month Quotations on BSE Quotations on NSE

High Price Low Price High Price Low Price Apr, 2017 32.00 26.30 32.00 26.10 May, 2017 27.80 22.70 28.00 22.70 June, 2017 27.90 21.75 27.85 21.80 July, 2017 26.25 22.20 26.50 22.50 Aug, 2017 24.85 16.85 23.00 16.75 Sept, 2017 21.80 16.80 21.70 16.65 Oct, 2017 18.50 16.60 18.90 16.80 Nov, 2017 19.40 16.50 19.45 16.25 Dec, 2017 28.85 17.10 28.80 16.40 Jan, 2018 25.95 18.75 26.00 19.20 Feb, 2018 22.20 17.75 22.40 17.75 Mar, 2018 19.50 15.35 19.00 15.00

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Month BSE Sensex PDIL Share Price Apr, 2017 29918.40 27.50 May, 2017 31145.80 22.85 June, 2017 30921.61 22.25 July, 2017 32514.94 22.70 Aug, 2017 31730.49 17.15 Sept, 2017 31283.72 17.45 Oct, 2017 33213.13 18.05 Nov, 2017 33149.35 18.05 Dec, 2017 34056.83 25.65 Jan, 2018 35965.02 21.60 Feb, 2018 34184.04 19.00 Mar, 2018 32968.68 16.00

ix. Registrar and Share Transfer AgentThe Company has appointed M/s. Link Intime India Private Limited as Registrar and Share Transfer Agent, details of whom are as under:M/s. Link Intime India Private LimitedC – 101, 247 Park, L.B.S. Marg, Vikhroli (West),Mumbai - 400 083Tel. No.: 022 - 49186270Fax No.: 022 - 49186060E-mail : [email protected] x. Share Transfer System To expedite the process of share transfer, transmission, split, consolidation, rematerialization, dematerialization, payment of dividend and issue of duplicate dividend warrants and resolution of the shareholder's grievances, the Board of Directors have delegated the powers to M/s. Link Intime India Private Limited, Mumbai. The shareholders are requested to approach M/s. Link Intime India Private Limited for resolution of all their issues.xi. Distribution of Shareholding

st(a) Class-wise Distribution of equity shares as on 31 March, 2018:

Slab of Shareholding Shareholders Shares

Number % of total Number % of total 1-500 6018 78.65 1003839 3.38

501-1000 769 10.04 625861 2.10 1001-2000 397 5.20 602621 2.02 2001-3000 153 2.00 388825 1.30 3001-4000 66 0.86 233922 0.78 4001-5000 67 0.88 313565 1.05

5001-10000 86 1.12 611324 2.05 10001 and above 96 1.25 26036343 87.32

Total 7652 100.00 29816300 100.00

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viii. Performance of shares of the company in comparison to BSE SensexstThe reported closing price during each month of the financial year ended on 31 March, 2018 of BSE Sensex and the company's share

are given below:

(b) stShareholding Pattern as on 31 March, 2018

SR. NO. CATEGORY NO. OF SHARES HELD % OF SHAREHOLDING A PROMOTER’S HOLDING

1. Promoters Indian Foreign

21849243 0

73.28

0.00 2. Persons acting in Concert 0 0.00 Sub-Total (A) 21849243 73.28

B NON-PROMOTER’S HOLDING

3. Institutional Investors (a) Mutual Funds and UTI 1998 0.01

(b)Banks, Financial Institutions (Central/State Govt. Institutions/ Non-government Institutions)

532 0.00

(c) Insurance Companies 0 0 (d) FII’s 0 0 4. Others

(a) Bodies Corporate 775370 2.60 (b) Indian Public 6554366 21.98

(c) NRIs/OCBs 145454 0.49 (d) Any Other (Clearing Members, Trust, Directors) 489337 1.64 Sub-Total (B) 7967057 26.72

GRAND TOTAL (A+B) 29816300 100.00

xii. Dematerialization of sharesTrading in company's equity share is permitted compulsorily in dematerialized form as per notification issued by SEBI. The break-up

stof equity shares in physical and demat form as on 31 March, 2018 is as follows:

Particulars of Equity Shares Equity Shares of Rs.10/- each Number % of Total

NSDL 5177708 17.37

CDSL 24144473 80.98

Sub-Total 29322181 98.35 Physical 494119 1.65

Total 29816300 100.00

Shareholders, who continue to hold their equity shares in physical form, are requested to dematerialize their shares at the earliest and avail various benefits of dealing in securities in electronic/dematerialized form.No shares are lying in the demat suspense account or unclaimed suspense account.xiii. Outstanding GDRs/ADRs/Warrants or any other convertible instruments and their impact on equity

stAs on 31 March, 2018, the company has no outstanding GDRs/ADRs/Warrants or any other convertible instruments. xiv. Commodity Price Risk and/or Foreign Exchange Risk and hedging activitiesDuring the year under review, the Company was not engaged in hedging activity and all the foreign exchange risk(s) were fully covered. The Company is not dealing in commodities market, therefore there is no commodity price risk.xv. Plant Locations

Sr.No. Location Address

1. Madhya Pradesh Village Panwa, Kasrawad, Distt. Khargone, Madhya Pradesh

2. Himachal Pradesh Village Bhud, Tehsil Nalagarh, Distt. Solan, Himachal Pradesh


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DECLARATION FROM MANAGING DIRECTORI, Vinod Kumar Gupta (DIN: 00039145), Managing Director of the Company do hereby affirm and declare on behalf of all the Directors and Senior Management Personnel in terms of Regulation 26 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the company has laid down and complied with the Code of Conduct as adopted by the company.

Place: Indore Date: th14 August, 2018

Vinod Kumar Gupta Managing Director

(DIN: 00039145)

xvi. Address for CorrespondenceFor all investor related issues, the address for correspondence shall be:




(DIN: 00040784)

Company “Company Secretary” Parenteral Drugs (India) Limited, Shree Ganesh Chambers, Navlakha Crossing, A.B. Road, Indore-452 001(Madhya Pradesh) E-mail: [email protected]

Registrar and Share Transfer Agent

M/s. Link Intime India Private Limited, C -101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400 083 (Maharashtra) Tel. No. : 022 - 49186270 Fax No. : 022 - 49186060 E-mail : [email protected]

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To The Members of Parenteral Drugs (India) Limited

1. We have examined the compliance of conditions of Corporate Governance by PARENTERAL DRUGS (INDIA) LIMITED (“the Company”), for the year ended on March 31, 2018, as stipulated in the Securities and Board Exchange of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2. The compliance of conditions of Corporate Governance is the responsibility of the Management. Our examination was limited to a review of the procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.

3. We have examined the relevant records of the Company in accordance with the Generally Accepted Auditing Standards in India, to the extent relevant, and as per the Guidance Note on Certification of Corporate Governance issued by the Institute of Chartered Accountants of India.

4. In our opinion and to the best of our information and according to our examination of the relevant records and the explanations given to us and the representations made by the Directors and the Management, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the Securities and Board Exchange of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 during the year ended March 31, 2018.

5. We state that such compliance is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of the Company.

Certificate

Place: IndorethDate: 14 August, 2018

For Singhal Jain & Co.

Chartered Accountants

Firm Regn. No. 013995C

Kamal Jain (Partner)

M. No. 406604


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I, Vinod Kumar Gupta(DIN: 00039145), Managing Director, to the best of my knowledge and belief hereby certify that:

(a) I have reviewed financial statements and the cash flow statement for the year stended on 31 March, 2018 and that to the best of my knowledge and belief:

(i) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;

(ii) these statements together present a true and fair view of the company's affairs and are in compliance with existing accounting standards, applicable laws and regulations.

(b) There are, to the best of my knowledge and belief, no transactions entered into by the company during the year which were fraudulent, illegal or violative of the company's code of conduct.

(c) I accept responsibility for establishing and maintaining internal controls for financial reporting and that I have evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and I have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which I am aware and the steps I have taken or propose to take to rectify these deficiencies.

(d) I have indicated to the auditors and the Audit committee:

(i) there has not been any significant change in internal control over financial reporting during the year;

(ii) there has not been any significant change in accounting policies during the year and that the same have been disclosed in the notes to the financial statements except mandatory adoption of Indian Accounting Standards; and

Certificate From Managing Director

Place: IndorethDate: 14 August, 2018


(iii) there have not been any instances of significant fraud of which they have become aware and the involvement therein, if any, of the management or an employee having a significant role in the company's internal control system over financial reporting.

To The Board of Directors of Parenteral Drugs (India) Limited

(DIN: 00039145)


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To,The Members ofPARENTERAL DRUGS (INDIA) LIMITEDMUMBAI

REPORT ON THE STANDALONE FINANCIAL IndAS STATEMENTS 1. We have audited the accompanying Standalone Financial Statements of PARENTERAL DRUGS (INDIA) LIMITED(“the

Company”), which comprise the Balance Sheet as at March 31, 2018, the Statement of Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement and the Statement of Changes in Equity for the year then ended and a summary of the significant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE STANDALONE Ind AS FINANCIAL STATEMENTS 2. The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”)

with respect to the preparation of these Standalone Ind AS financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and statement of changes in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act, read with relevant rules issued there under.This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

AUDITORS' RESPONSIBILITY3. Our responsibility is to express an opinion on these Standalone Ind AS financial statements based on our audit.4. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to

be included in the audit report under the provisions of the Act and the Rules made there under.5. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those

Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

6. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Standalone Ind AS financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Standalone Ind AS financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the Standalone Ind AS financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Board of Directors, as well as evaluating the overall presentation of the Standalone Ind AS financial statements.

7. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Standalone financial statements.

Opinion8. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Ind

AS financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India including IndAS specified under Section 133 of the Act of the state of affairs of the Company as at March 31, 2018, and its loss, total comprehensive income, its cash flows and Changes in Equity for the year ended on that date.

Other Matter9. The Comparative financial information for the year ended 31st March 2017 and the transition date opening balance sheet as at

1st April, 2016 prepared in accordance with Ind As included in these standalone financial statements are based on the previous issued statutory financial statements for the year ended 31st march 2017 and 31st March, 2016 respectively prepares in accordance with accounting standard prescribed under section 133 of the Act. read with Rule 7 of the companies (Accounts) Rules 2014 (as amended) which were audited by predecessor auditor whose reports dated 30th May,2017 and 29th May 2016 respectively expressed unmodified opinion on those standalone financial statements and have been adjusted for the difference in the accounting principles adopted by the company on transition to Ind As. which have been audited by us. Our opinion is not modified in respect of this matter.

INDEPENDENT AUDITOR’S REPORT

PARENTERAL DRUGS (INDIA) LIMITED

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Report on Other Legal and Regulatory Requirements10. As required by the Companies (Auditor's Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms

of section 143(11) of the Act, we give in the ''Annexure A'' a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

11. As required by Section 143 (3) of the Act, we report that:

a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books and proper returns adequate for the purposes of our audit have been received from the branches not visited by us.

c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive income, the Cash Flow Statement and the Statement of changes in Equity dealt with by this Report are in agreement with the relevant books of account.

d) In our opinion, the aforesaid Standalone Ind AS financial statements comply with the Accounting Standards prescribed under Section 133 of the Act read with relevant Rule issued there under.

e) On the basis of the written representations received from the directors as on March 31, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2018 from being appointed as a director in terms of Section 164(2) of the Act.

f ) With respect to the adequacy of the internal financial control over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”.

g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 as amended, in our opinion and to the best of our information and according to the explanations given to us:i. The Company has disclosed the impact of pending litigations on its financial position in its Standalone Ind AS financial

statements – Refer Note 29 relating to Contingent Liabilities and Commitments; ii. The Company has made provision as required under applicable law or accounting standard, for material foreseeable

losses, if any

iii. There has been no delay in transferring any amount, required to be transferred to the Investor Education and Protection Fund by the Company.




Place: IndorethDate: 29 June, 2018


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Annexure A to the Independent Auditor's Report

The Annexure referred to in our independent Auditor's Report to the members of the Company on the Statements for the year ended March 31, 2018, we report that :(i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of

Property, Plant & Equipments.b) The Company has a regular programme of physical verification of its fixed assets by which fixed assets are verified in a

phased manner over a period of three years. In accordance with this programme, certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodically of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

c) According to information and explanations given by the management, the title deed of immovable properties included in fixed assets is held in the name of the company.

(ii) a) The Inventory of finished goods, stores, spares parts and raw material lying at its location has been physically verified by the management at intervals during the financial year and the frequency of verification is considered reasonable.

b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.c) On the basis of our examination of records of inventory, in our opinion, the Company has maintained proper records of inventory. The discrepancies noticed on physical verification between the physical stocks and the books of records were not material.

(iii) During the year the Company has not granted loans to corporate covered in the register maintained under section 189 of the Companies Act, 2013 (“the Act”). However the balance due from one of the group company amounting to Rs. 4.90 Crores is not prejudicial to the interest of the Company.

(iv) In our opinion and according to the information and explanation given to us, the Company has not made any fresh loans, investments, guarantees and security during the year under review, hence the provision of section 185 and 186 of the Act are not applicable. However, the old guarantee given for one group company for Rs. 12.79 Crores is not prejudicial to the interest of the Company.

(v) The Company has not accepted deposits within the meaning of sections 73 to 76 of the Companies Act, 2013 and the rules framed there under. Hence, clause 3(v) of the Order is not applicable to the Company for the year under audit.

(vi) Maintenance and cost audit of cost records has been prescribed for the products of the company by the Central Government, under Section 148 (1) of the Companies Act, 2013 and according to the information and explanations given to us, we are of the opinion that prima facie, the specified accounts and records have been made and maintained.

(vii) (a) According to the information and explanation given to us and on the basis of our examination of the records of the Company, amounts deducted/accrued in the books of account in respect of undisputed statutory dues including provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax,GST, cess and other material statutory dues have not been regularly deposited during the year by the Company with the appropriate authorities. According to the information and explanation given to us, no undisputed amounts payable in respect of provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues were in arrears as at 31 March 2018 for a period of more than six months from the date of they became payable except as under:-

(b) As at March 31, 2018 according to the records of the Company and the information and explanations given to us, the disputed demands of excise duty to the tune of Rs. 274.40 lacs has been challenged by the Company and show cause notices are pending adjudication, Show cause notice issued by Excise department of Rs. 1849.13 lacs which are quashed by Hon'ble High Court of Indore, department has preferred an appeal in the Supreme Court which is pending, Income tax demands of Rs. 9724.99 lacs raised but not admitted and rectification/appeal is pending. One demand of sales tax of Rs. 68.57 lacs for which company has filed appeal before Deputy Commissioner (Appeal). One demand under DPCO Act of Rs. 19.31 lacs for which the Company has filed writ petition in the High Court of M.P. and demand is stayed by H'ble High Court. Three months demand of Electricity board (MPPKVVCL) for Rs. 26.81 lacs not paid due to surrender of connection for which case is filed with H'ble High Court of M.P. One demand of Electric Department for Rs. 80.97 lacs for which the Company has filed writ petition in the High Court of M.P. and demand is stayed by the H'ble High Court.

S. No Particular Amount (Rs. In Lacs)

1

Excise Duty

260.432

Professional Tax

1.973

ESIC

0.844

Provident Fund

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(viii) On the basis of information and explanation given by the Management during the year the company has defaulted in repayment of dues to State Bank of India & Punjab National Bank .Since all loan accounts have been classified as NPA from January 2016 and details of default amount is as under .

(ix) The Company did not raise any money by way of initial public offer or further public offer (including debt instrument) and term loan during the year. Accordingly, paragraph 3 (ix) of the Order is not applicable.

(x) According to the information and explanations given by management, we report that no fraud by the company or no fraud on the company by the officer and employees of the company has been noticed or reported during the year.

(xi) According to the information and explanations given to us and based on our examination of the records of the company, the company has not paid the managerial remuneration during the financial year 2017-18 which is requisite under section 197 read with schedule V of the Act.

(xii) In our opinion, the company is not a Nidhi company; therefore, the provision of clause 3(xii) of the order is not applicable to the company and hence not commented upon.

(xiii) According to the information and explanation given to us and based on our examination of the record of the company, transaction with the related parties are in compliance with section 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the financial statement as required by the applicable Ind AS.

(xiv) According to the information & explanation given to us and on an overall examination of the balance sheet, the company has not made any preferential allotment or private placement of shares or fully or partly convertible debenture during the year under review and hence, reporting requirement under clause 3(xiv) are not applicable to the company and not commented upon.

(xv) According to the information and explanation given to us and based on our examination of the records of the company, the company has not entered into non cash transaction with directors or persons connected with him. Accordingly paragraph 3(xv) of the order is not applicable.The Company is not required to be registered under section 45 IA of the Reserve Bank of India Act,1934 and accordingly, the provision of clause 3(xvi) of the order are not applicable to the company.

(xvi)

Banks Name stAmount of default as on 31

March 2018 1.State Bank of India 330.71 Crs

(224.26

Crs)

2.Punjab National Bank

87.13 Crs

(58.98 Crs)






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“Annexure B” to the Independent Auditor's Report of even date on the financial Statements of Parenteral Drugs (India) Limited Report on the Internal Financial Controls under Clause (i) of Sub-Section 3 of Section 143 of the Companies Act, 2013 (“the Act”)To The Members of Parenteral Drugs (India) Limited

1. We have audited the internal financial controls over financial reporting of Parenteral Drugs (India) Limited (“the Company”) as of March 31, 2018 in conjunction with our audit of the Standalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls2. The Company's Management is responsible for establishing and maintaining internal financial controls based on the internal

control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditor's Responsibility3. Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our

audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing as specified under section 143 (10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accounts of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain responsible assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the internal financial controls systems over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting6. A Company's internal financial control over financial reporting is a process designed to provide reasonable assurance

regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A Company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company' (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the company are being made only in accordance with authorities of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

7. Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.


IND

EPE

ND

EN

T A

UD

ITO

R’S

REPO

RT

48



49

OpinionIn our opinion, the Company has, in all material respects an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2018, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.






M. No. 406604


IND

EPE

ND

EN

T AU

DITO

R’S R

EPO

RT

Balance Sheet


See accompanying Notes to the financial statements from 1 to 40

(Amount in `)

BA

LAN

CE S

HEET

50


I. ASSETS(1) Non-current assets

(a) Property, plant and equipment 3 6,16,92,38,320 6,34,13,22,753 6,53,23,19,071 (b) Intangible assets 4 - - - (c) Financial Assets 5 (i) Investments 5(a) 2,57,85,000 3,04,86,513 2,59,71,641 (ii) Loans 5(b) 2,58,50,452 2,40,93,394 2,42,10,325 (iii) Others 5(c) 4,83,986 1,40,035 8,48,128 (d) Other non-current assets 6 5,67,52,259 4,65,45,089 5,48,81,634 (e) Deferred tax Assets (Net) 7 71,76,99,200 48,64,62,186 37,19,19,650

Total Non-current assets 6,99,58,09,217 6,92,90,49,970 7,01,01,50,449

(2) Current assets(a) Inventories 8 1,24,84,706 2,42,15,422 15,09,91,733 (b) Financial Assets 9 (i) Trade receivables 9(a) 57,06,89,374 57,35,65,785 69,91,16,499 (ii) Cash and cash equivalents 9(b) 66,076 28,26,571 16,18,646 (iii) Bank balances other than (ii) above 9(c) 76,86,103 67,98,786 2,13,23,642 (iv) Loans 9(d) 4,96,62,233 4,96,35,328 5,20,33,704 (c) Other Current Assets 10 68,64,053 1,23,02,092 1,38,66,339

Total Current assets 64,74,52,545 66,93,43,984 93,89,50,563 Total Assets 7,64,32,61,762 7,59,83,93,954 7,94,91,01,012

II. EQUITY AND LIABILITIESEquity (a) Equity share capital 11 29,81,63,000 29,81,63,000 29,81,63,000 (b) Other Equity 12 (1,37,59,20,802) (41,47,67,757) 72,91,52,758 Total Equity (1,07,77,57,802) (11,66,04,757) 1,02,73,15,758 LIABILITIES

(1) Non-Current Liabilities(a) Financial Liabilities 13 (i) Borrowings 13(a) 3,40,51,54,378 4,02,08,04,188 4,48,83,39,366 (b) Other non-current liabilities 14 16,50,000 18,00,000 19,50,000 Total Non-Current Liabilities 3,40,68,04,378 4,02,26,04,188 4,49,02,89,366

(2) Current liabilities(a) Financial Liabilities 15 (i) Borrowings 15(a) 1,27,93,54,107 1,27,93,54,107 1,27,87,36,693 (ii) Trade payables 15(b) 13,57,39,713 13,36,89,848 17,28,27,217 (iii) Other financial liabilities 15(c) 3,52,78,68,238 2,05,04,48,726 82,91,79,857 (b) Other current liabilities 16 29,87,10,746 15,99,97,967 9,22,47,230 (c) Provisions 17 7,25,42,383 6,89,03,876 5,85,04,891 Total Current liabilities 5,31,42,15,187 3,69,23,94,524 2,43,14,95,888

Total Equity and Liabilities 7,64,32,61,762 7,59,83,93,954 7,94,91,01,012

Notes As at

March 31, 2018 As at


April 1, 2016

Aradhana KulkarniCompany Secretary

For and on behalf of the Board


DIN 00039145

Govind Das GargWhole Time Director

DIN 00520067

Singhal Jain & Co.Chartered AccountantsFirm Regn No. 013995C

Place: IndoreDate: 29.06.2018

Kamal Jain(Partner)Membership no. 406604

As per our report of even date attachedFor and on behalf of Manohar Lal Gupta

ChairmanDIN 00040784

PRO

FIT &

LOSS STA

TEM

EN

T


51

Statement of Profit and Loss


(Amount in `)Notes For the year ended

March 31, 2018 For the year ended

March 31, 2017

INCOMEI Revenue from Operations 18 32,97,14,268 52,65,14,054 II Other Income 19 1,34,41,765 2,53,23,673 III 34,31,56,033 55,18,37,727 IV EXPENSES

Cost of materials consumed 20 4,39,20,309 14,90,36,366 Purchases of Stock-in-Trade 21 1,31,15,769 8,03,44,393 Changes in inventories of finished goods, work-in-progress and stock in trade

22 1,05,82,358 3,08,53,340

Employee Benefits Expenses 23 16,69,69,490 15,11,44,044 Finance Costs 24 86,34,00,544 73,93,82,458 Depreciation, amortisation and impairment Expenses 25 18,56,64,940 19,10,09,371 Other Expenses 26 25,35,30,372 46,07,12,610

1,53,71,83,782 1,80,24,82,582 V (1,19,40,27,749) (1,25,06,44,855)

VI Exceptional Items 27 - 10,00,000

VII (1,19,40,27,749) (1,25,16,44,855)

VIII Tax expenseCurrent Tax - - Deferred Tax 7 (23,31,04,846) (11,07,81,125) Tax for earlier years - 7,000

IX Profit/(loss) after tax for the year (VII-VIII) (96,09,22,903) (1,14,08,70,730) X (A) Other Comprehensive Income 28

(i) Items that will not be reclassified to statement of profit or loss

16,37,691 (68,11,196)

Tax relating to above items (18,67,832) 37,61,411 (ii) Items that will be reclassified to statement of profit or

lossTax relating to above items - -

XI (96,11,53,045) (1,14,39,20,515) XII Earnings per equity share of face value of Rs.10 each 35

a Basic (in Rs.) (32.23) (38.23) b Diluted (in Rs.) (32.23) (38.23)


Basic and Diluted earnings per share before Exceptional Items

Basic and Diluted earnings per share after Exceptional Items

Total Income ( I+II )

Profit/(loss) before exceptional items and tax (III-IV)

Profit/(loss) before tax (V-VI)

Total comprehensive income for the year

Total Expenses




DIN 00039145


DIN 00520067







a. E

quit

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Bal

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at t

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NTE

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(IND

IA) L

IMIT

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Stat

emen

t of C

hang

es in

Equ

ity

(SO

CIE)

52


STATE

MEN

T O

F C

HA

NG

ES

IN E

QU

ITY (SO

CIE

)

Statement of Cash flows


(Amount in `)




DIN 00039145


DIN 00520067







Particulars For the year ended March 31, 2018

For the year ended March 31, 2017

Cash flow from operating activitiesProfit/(Loss) before tax (1,19,40,27,749) (1,25,16,44,855) Adjustments to reconcile profit before tax to net cash used in operating activitiesDepreciation and impairment of property, plant and equipment 18,56,64,940 19,10,09,371 Remeasure of the defined benefit plans 67,13,991 (1,13,76,496)Equity Instruments directly taken to OCI (50,76,300) 45,65,300 Finance income (13,70,688) (22,20,879)Finance costs 86,34,00,544 73,93,82,458 Provision for Gratuity and compensated absences 36,38,507 1,03,98,985 Operating profit before working capital changes (14,10,56,755) (31,98,86,116) Working capital adjustments(Increase)/ Decrease in inventories 1,17,30,716 12,67,76,311 (Increase)/ Decrease in trade and other receivables 28,76,411 12,55,50,714 (Increase)/ Decrease in other assets (51,13,082) 1,06,08,885 (Increase)/ Decrease in Other Balance with Banks (8,87,317) 1,45,24,856 Decrease/(Increase) in Long-term loans & advances (17,83,964) 25,15,307 Increase/ (Decrease) in trade and other payables 20,49,865 (3,91,37,369)Increase/ (Decrease) in other liabilities 1,61,59,82,291 1,28,88,69,606 Cash generated from operations 1,48,37,98,166 1,20,98,22,193 Income Tax paid (7,000)Net cash flows from operating activities 1,48,37,98,166 1,20,98,15,193 Cash flow from investing activitiesPayment for purchase and construction of property, plant and equipment (1,35,80,507) (13,053) Purchase of Investments 47,01,513 (45,14,872) Interest received 13,70,688 22,20,879 Net cash flows from investing activities (75,08,306) (23,07,046) Cash flow from financing activitiesProceeds from issue of share capitalIncrease/(decrease) in Short Term Borrowings (1) 6,17,414 Increase/(decrease) in Long Term Borrowings (61,56,49,810) (46,75,35,178)Finance charges paid (86,34,00,544) (73,93,82,458)Net cash flows from financing activities (1,47,90,50,355) (1,20,63,00,222) Net increase / (decrease) in cash and cash equivalents (27,60,495) 12,07,925 Cash and cash equivalents at the beginning of the year 28,26,571 16,18,646 Effect of exchanges rate changes on cash and cash equivalentsCash and cash equivalents at the end of the year 66,076 28,26,571 Reconciliation of Cash and Cash equivalents with the Balance SheetCash and Bank Balances as per Balance Sheet [Note 9b] Cash on hand 42,985 1,31,052 Bank balances 23,091 26,95,519 Cash and Cash equivalents as restated as at the year end 66,076 28,26,571

The above Cash Flow Statement has been prepared under the 'Indirect Method' as set out in the Accounting Standard (IND AS) 7 - "Cash Flow Statements".

- -

- -


53

CA

SH F

LOW

STATE

MEN

T

BACKGROUNDParenteral Drugs (india) limited (‘the Company’) is a Public Limited Company engaged primarily in the business of Manufacturing of Pharmaceutical Product. The Company is also engaged in trading in various products . The Company has manufacturing plants across India and is listed on the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE). The Company’s registered office is at 340,Laxmi Plaza,Laxmi Industrial Estate,New Link Road,Andheri(w), Mumbai.

BASIS OF PREPARATION

Statement of ComplianceThe separate financial statements have been prepared in accordance with and comply in all material aspects with Indian Accounting Standards (“Ind AS”), including the rules notified under the relevant provisions of the Companies Act, 2013 ('Act').

These are the Company's first seperate financial statements (hereinafter 'financial statements') prepared in accordance with Indian Accounting Standards (Ind AS) by applying Ind AS 101 – First-time Adoption of Indian Accounting Standards . Refer Note 40 for an explanation of how these financial statement have revised/changed from Indian GAAP .

These financial statements are the company's first Ind AS standalone financial statements.

The significant accounting policies set out in Note 2 have been applied in preparing the financial statements of the Company.

The Board of Directors have approved the issuance of these financial statements on 29.06.2018.

Functional and presentation currencyThese financial statements are presented in Indian rupees (Rs.), which is the Company’s functional currency.

Basis of MeasurementThese separate financial statements have been prepared on the historical cost basis except the following item.

(i) Certain financial assets and liabilities that are measured at Fair Value.

(ii) Net defined benefit plans- Plan assets measured at Fair Value less present value of defined benefit obligation.

Determining the Fair ValueWhile measuring the Fair Value of an asset or a liability,the Company uses observable market data as far as possible. Fair values are categorised into different levels in a Fair Value hierarchy based on the inputs used in the valuation techniques as follows.

Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 : inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 : inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the Fair Value of an asset or a liability fall into different levels of the Fair Value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the Fair Value hierarchy as the lowest level input that is significant to the entire measurement.

Use of Estimates and Judgement The preparation of financial statements in accordance with Ind AS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods if affected.The most significant estimates and assumptions are described below:

JudgementsInformation about judgements made in applying accounting policies that have the most significant effect on amounts recognised in the financial statement are as below:- Leases identification- Whether an agreement contains a lease

- Classification of lease - Whether Operating or Finance

Assumptions and EstimationsInformation about assumption and estimation uncertainities that have sigificant risk of resulting in a material adjustment in the year ended March 31, 2018 are as below:

Impairment test of non financial assetsFor the purpose of assessing recoverability of non-financial assets, assets are grouped at the lower levels for which there are individually identifiable cash flows (Cash Generating Units).

Allowance for bad debtsThe Management makes estimates related to the recoverability of receivables, whose book values are adjusted through an allowance for Expected losses. Management specifically analyzes accounts receivable, customers’ creditworthiness, current economic trends and changes in customer’s collection terms when assessing the adequate allowance for Expected losses, which are estimated over the lifetime of the debts.

Notes to financial statement for the year ended March 31, 2018

Note 1-2

a

b


(1)

c

d

(i)

(ii)

1.

2.

NO

TES

TO F

INA

NCI

AL

STAT

EMEN

T

54


3.

4.

5.

Recognistion and measurement of Provisions and ContingenciesThe Company’s Management estimates Key assumptions about the likelihood and magnitude of an outflow of resources based on available information and the assumptions and methods deemed appropriate. Wherever required, these estimates are prepared with the assistance of legal counsel. As and when additional information becomes available to the Company, estimates are revised and adjusted periodically.

Measurements of Defined benefit obligationsBased on key acturial assumptions

Measurements of certain Items at Fair ValueThe Company’s accounting policies and disclosures require the measurement of Investments (other than subsidiary, associates and joint ventures) at fair value.

The Company has an established control framework with respect to the measurement of fair values. The Management regularly reviews significant observable inputs and valuation adjustments. If third party information such as broker quotes or pricing services is used to measure fair values, then the management assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which such valuations should be classified.

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows.

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PROPERTY, PLANT AND EQUIPMENT:

Recognition and measurementProperty, Plant and equipment are measured at cost as per Ind AS (which includes capitalised borrowing costs) less accumulated depreciation and accumulated impairment losses, if any.

The cost of an item of property, plant and equipment comprises:

a) its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates.

b) any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management.

c) the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located.If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment and depreciated accordingly.

Any gain or loss on disposal of an item of property, plant and equipment is recognised in Statement of profit or loss.

Transition to Ind ASOn Transition to Ind AS as on April 1, 2016 the Company has elected to measure its Property, Plant & Equipments at Cost as per Ind AS and carrying value adjusted for additional impacts as per Ind AS, if any. The same are considered as Deemed cost of such Plant, property and Equipment.

Subsequent expenditureSubsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.

Depreciation,Estimated useful Life and Estimated Residual valueDepreciation is calculated using the Straight Line Method, pro rata to the period of use, taking into account useful lives and residual value of the assets, Depreciation is computed with reference to cost.The useful life of assets & the estimated residual value, which are different from those prescribed under Schedule II to the Companies Act, 2013, are based on technical advice.

INTANGIBLE ASSETS

Recognition and measurementComputer softwares have finite useful lives and are measured at cost less accumulated amortisation and any accumulated impairment losses.As on transition date i.e. April 1, 2016 the same are measured at cost as per Ind AS.

(2)

a

(i)

(ii)

(iii)

(iv)

b

(i)



NO

TES TO

FIN

AN

CIA

L STATE

MEN

T


55

FINANCIAL INSTRUMENTSA financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments also include derivative contracts such as foreign currency foreign exchange forward contracts, interest rate swaps and currency options; and embedded derivatives in the host contract.

Financial assets

ClassificationThe Company classifies its financial assets in the following measurement categories:

- those to be measured subsequently at fair value ( either through Other Comprehensive Income-[FVTOCI], or through profit and loss-[FVTPL]; and

- those measured at amortised cost.[AC]

The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows.

In case of investments

In Equity instruments - For subsidiaries , associates and Joint ventures - The same are measured at cost in separate financial statements and are tested for impairment periodically.

- For Other than subsidiaries , associates and Joint venture - The same are measured at Fair value through Other Comprehensive Income [FVTOCI].

Initial recognition and measurementAt intial recognistion, the Company measures a financial asset at its fair value and in the case of financial assets not recorded at fair value through profit or loss by adding transaction costs that are directly attributable to the acquisition of the financial asset.

Impairment of financial assetsIn accordance with Ind-AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss on the following financial assets and credit risk exposure:

a) Financial assets that are debt instruments and are measured at amortised cost e.g., loans, debt securities, deposits, and bank balance.

b) Trade receivables.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on:

- Trade receivables which do not contain a significant financing component.

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

- For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.

Financial liabilities

ClassificationThe Company classifies its financial liabilities in the following measurement categories:- those to be measured subsequently at fair value through profit and loss-[FVTPL]; and

- those measured at amortised cost[AC].The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows.

Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss or at amortised cost.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee contracts and derivative financial instruments.

Financial liabilities at fair value through profit or loss [FVTPL]Financial liabilities at fair value through profit or loss [FVTPL] include financial liabilities and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for ``the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by Ind-AS 109. Separated embedded

c

(i)

(ii)

PARENTERAL DRUGS (INDIA) LIMITEDNotes to financial statement for the year ended March 31, 2018

56


NO

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TO F

INA

NCI

AL

STAT

EMEN

T

d

e

f

g

(aa)

(ab)(i)

(ii)

derivatives are also classified as held for trading unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, only if the criteria in Ind-AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/loss are not subsequently transferred to P&L. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the statement of profit or loss.

Loans and borrowings After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective Interest Rate (EIR) method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.

This category generally applies to interest-bearing loans and borrowings.

Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Offsetting of financial instrumentsFinancial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty.

INVENTORIESInventories are measured at the lower of cost and net realisable value after providing for absolence, if any . The cost of inventories is determined using the weighted average method and includes expenditure incurred in acquiring inventories, production or conversion and other costs incurred in bringing them to their respective present location and condition. In the case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal operating capacity.The comparision of cost and Net Realisable value is made on an item by item basis.

Net realisable value is estimated selling price in the ordinary course of business, less estimated cost of completion and the estimated costs neccasary to make the sale. The net realisable value of work in progress is determined with reference to selling prices of finished products.

TRADE RECEIVABLESTrade receivable are recognised intially at fair value and subsequently measured at amortised cost [AC] using the effective interest method less provision for impairment. As per Ind AS 109 the Company has applied Expected Credit Loss model for recognising the allowence for doubtful debts.

CASH AND CASH EQUIVALENTFor the purpose of presentation in the statement of the cash flows, cash and cash equivalent includes the cash on hand and Bank balance in current accounts.

CONTRIBUTED EQUITYEquity shares are classified as equity.Incidential costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

DividendsProvision may be made for the amount of any dividend declared,if any.In the year in which it is approved by shareholders.

Earnings per share

Basic earnings per shareBasic earnings per shares is calculated by dividing Profit/(Loss) attributable to equity holders (adjusted for amount directly charged to Reserves) before/after Exceptional Items by Weighted average number of shares, (excluding treasury shares).

Diluted earnings per shareDiluted earnings per shares is calculated by dividing Profit/(Loss) attributable to equity holders (adjusted for amount directly charged to Reserves) before/after Exceptional Items divided by Weighted average number of shares (excluding treasury shares) considered for basic earning per shares including dilutive potential equity shares.

Rounding of amounts



(ac)

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57

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Rs as per the requirement of

Schedule III of Companies Act, 2013 , unless otherwise stated.

BORROWINGSBorrrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds ( net of transaction costs) and the redemption amount is recognised in profit or loss over the period of borrowings using the effective interest method. Processing/Upfront fee is capitalised as prepaid asset netted of from brrowings. The same is amortised over the period of the facility to which it relates.

Borrowings are derecognised from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of the fianancial liablity that has been extinguished or transferred to another party and the consideration paid including any non cash assets transferred or liability assumed, is recognsied in profit or loss as other gains or (losses).

Borrowings are classified as current liabilites unless the Company has and unconditional right to defer the settlement of laiblities for aleast twelve months after the reporting period.

TRADE AND OTHER PAYABLESThese amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid at the period end. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

REVENUE

Sale of goodsRevenue is recognised when the significant risk and rewards of the ownership have been transferred to the buyer, recovery of consideration is probable, the associated cost and possible return of goods can be measured reliably, there is no continuing effective control/managerial involvement in respect of the goods, and the amount of revenue can be measured reliably.

Revenue from sale of goods in the course of ordinary activities is measured at the fair value of the consideration received or receivables net of returns, trade discount, volume rebates and taxes and duties on behalf of government. This inter alia involves discounting of the consideration due to the present value if the payment extends beyond normal credit terms.

The timing of the transfer of control varies depending on the individual terms of the sale.

Sale of ServicesRevenue from services is recognised when agreed contractual task has been completed.

Other Incomea) Interest and other income are recognised on accrual basis on time propotion basis and measured on effective interest rate.

GOVERNMENT GRANTSGrants from the Government are recognised at their fair value where there is an reasonable assurance that the grant will be received and the Company will comply with all the attached conditions.

Government grant relating to income are deferred and recognised in the Statement of Profit and Loss over the period necessary to match them with the cost that they are intended to compensate and presented within "Other operating income".Government grant relating to purchase of Property, Plant and Equipment are included in ''Other current/ non-current liabilities'' as Government Grant - Deferred Income and are credited to Profit or loss on a straight line basis over the expected life of the related asset and presented within ''Other operating Revenue''.

EMPLOYEE BENEFITS

During Employment benefitsShort term employee benefitsShort-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

Post Employment benefits

Defined contribution plansA defined contibution plan is a post employment benefit plan under which an entity pays fixed contribution into a separate entity and will have no legal or constructive obligation to pay futhur amounts. The Company makes specified monthly contributions towards government administered Providend Fund scheme.

Obligations for contributions to defined contribution plans are expensed as the related service is provided. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in future payments is available.

Defined benefit plansThe company pays gratuity to the employees whoever has completed five years of service with the Company at the time of resignation. The gratuity is paid @ 15 days salary for every completed year of service as per the payment of Gratuity Act 1972.

i

j(i)

(ii)

(iii)

k

(i)

(ii)

l

(i)(a)

(ii)

(a)


h


58


(b)NO

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TO F

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T

(ii)

n

o

(1)

p

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit Method and spread over the periods during which the benefits is expected to be derived from employees' services.Re-measurment of defined benefit plans in respect of post employment are charged to Other Comprehensive Income.

Termination benefitsTermination benefits are payable when employment is terminated by the Company before the normal retirement date or when an employee accepts voluntary redundancy in exchange for these benefits.

INCOME TAXIncome tax expense comprises current and deferred tax. Tax is recognised in statement of profit and loss, except to the extent that it relates to items recognised in the other comprehensive income or in equity. In which case, the tax is also recognised in the other comprehensive income or in equity.

Current taxCurrent tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates and laws that are enacted or subsequently enacted at the Balance sheet date.

Current tax assets and liabilities are offset only if, the Company:

a) has a legally enforceable right to set off the recognised amounts; and

b) intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Deferred tax Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have enacted or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting period.Deferred tax are recognised to the extent that it is probable that future taxable profit will be available against which they can be used.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset only if:

a) the entity has a legally enforceable right to set off current tax assets against current tax liabilities; and

b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on the same taxable entity.

BORROWING COSTSGeneral and specific Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset that necessarily takes a substantial period of time to get ready for its intended use are capitalised as part of the cost of that asset till the date it is ready for its intended use or sale. Other borrowing costs are recognised as an expense in the period in which they are incurred.

Investment income earned on the temporary invetsment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing cost eligible for capitalisation.All other borrowing costs are charged to the statement of profit and loss for the period for which they are incurred.

LEASES

Determining whether an arrangement contains a leaseAt inception of an arrangement, the Company determines whether the arrangement is or contains a lease.

As a lesseeLeases of property where the Company, as lessee, has substantially all the risks and rewards of the ownership are classified as finance leases. Finance lease for parcel of Land are capitalised at the lease's inception at the cost of the lease hold Land property due to 99 year of lease period and the future lease rentals will be charged to the profit & loss over the Lease period.

Provisions and contingent liabilitiesProvisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required tosettle the obiligation and the amount can be reliably estimated.Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognised as interest expenses.Contingent liabilities are disclosed in respect of possbile obiligations that arise from past events but their existence will be confirmed by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made.


(c)

m

(i)


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59

PARE

NTE

RAL

DRU

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(IND

IA) L

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Prop

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, pla

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F

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Year

end

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31,

201

8G

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car

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g am

ount

Ope

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gro

ss c

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amou

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2,6

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3,6

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1,7

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7,8

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-

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389

1,2

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236

1,7

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Add

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60


NO

TES

TO F

INA

NCI

AL

STAT

EMEN

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Note - 4a Intangible assets

Particulars Computer Software Total Year ended March 31, 2018Gross carrying amountOpening gross carrying amount 96,55,668 96,55,668 Additions - - Closing gross carrying amount 96,55,668 96,55,668

Accumulated amortisation and impairmentOpening accumulated amortisation 96,55,668 96,55,668 Amortisation charge for the year - - Closing accumulated amortisation and impairment 96,55,668 96,55,668 Closing net carrying amount - -

Year ended March 31, 2017Gross carrying amount

Deemed cost as at April 1, 2016 96,55,668 96,55,668 Additions - - Closing gross carrying amout 96,55,668 96,55,668 Accumulated amortisationOpening accumulated amortisation 96,55,668 96,55,668 Amortisation charge for the year - - Closing accumulated amortisation 96,55,668 96,55,668

Closing net carrying amount - -


Note - 5aFINANCIAL ASSETS Non -Current Financial Investments

Investments In Subsidiaries, associates and Joint Ventures ( Measured at cost ) [ Refer Note 5a - C(i) below]

A Investment in Equity Instruments: (fully paid up) a) In Subsidiary companies

38,50,000 [FY 2016-17 38,50,000 and April 1,2016 38,50,000] equity shares of Rs. 10/- eachInfutec Healthcare Limited (100% Subsidiary) - - -

[Net of Impairment Rs. FY 2017-2018 1,36,00,00,000[FY 2016-2017 1,36,00,00,000 and April 1, 2016 1,36,00,00,000 ]1,27,500[FY 2016-17 1,27,500 and April 1,2016 1,27,500] equity shares of Rs. 10/- eachParenteral Biotech Limited (51% Subsidiary) 12,75,000 12,75,000 12,75,000

50,000[FY 2016-17 50,000 and April 1,2016 50,000] equity shares of Rs. 10/- eachParenteral Impex Limited (100% Subsidiary) 5,00,000 5,00,000 5,00,000 Nil[FY 2016-17 Nil and April 1,2016 50,000] equity shares of Rs. 10/- eachAbhay Drugs Limited (100% Subsidiary) - - 5,00,000 Nil[FY 2016-17 Nil and April 1,2016 50,000] equity shares of Rs. 10/- eachAnjaney Pharmaceuticals Limited (100% Subsidiary) - - 5,00,000

Total 17,75,000

17,75,000

27,75,000

(Amount in `)

Particulars As at



March 31, 2016



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(Amount in `)


B Investment in Equity Instruments - Other than in subsidiary, associate and Joint Venture companies ( Designated at Fair value through Other Comprehensive Income (FVOCI) [ Refer Note 28 (A) I (ii) ]

a) Quoted Medicaman Biotech Limited -

1,00,000

1,00,000

Add/(Less): Fair value adjustments for Investments -

50,76,300

5,11,000

- 51,76,300 6,11,000

Total - 51,76,300 6,11,000

b) Investment in Preference Shares measured at[Amortised cost]Unquoted Infutec Healthcare Limited(100% Subsidiary)24,00,000 (FY 2016-2017 24,00,000 and April 1,2016 24,00,000) 0% Cumulative Redeemable Non Convertible preference shares of Rs. 10/- each

2,35,25,213

2,25,75,641

2,40,00,000

Add/(Less): Fair value adjustments for Investments 4,74,787

9,49,572

-14,24,359 2,40,00,000 2,35,25,213 2,25,75,641

c) Investment in Government or Trust Securities measured at Amortised costNational Saving Certificate 10,000

10,000

10,000

Total 2,40,10,000

2,35,35,213

2,25,85,641

G R A N D T O T A L: 2,57,85,000

3,04,86,513

2,59,71,641

Aggregate amount of quoted investments - Cost -

1,00,000

1,00,000

Fair Market Value of quoted investments -

51,76,300

6,11,000

Aggregate amount of unquoted investments - Cost 2,57,85,000

3,03,86,513

2,58,71,641

Aggregate provision for dimunition in value of quoted investments

- 50,76,300 5,11,000

C i)

Note - 5bLoans Unsecured, considered good (Unless otherwise stated)

Security and Other Deposits 2,58,50,452

2,40,93,394

2,42,10,325

2,58,50,452

2,40,93,394

2,42,10,325

Note - 5cOther Financial assets

Interest Accrued but not due On Fixed Deposits With Bank 4,83,986

1,40,035

8,48,128

4,83,986

1,40,035

8,48,128

Note - 6Other non-current assets

- Advance Income-Tax including tax deducted at source 3,64,24,060 2,64,18,586 2,04,91,992 - Other 2,03,28,199 2,01,26,503 3,43,89,642

5,67,52,259 4,65,45,089 5,48,81,634

(a) Subsidiaries, associates and Joint ventures are measured at cost and tested for impairment . Impairment( if any) denotes permanent diminution and charged to Statement of Profit and loss. Impairment in cases of unlisted securities is determined based on the valuation reports and in case of listed securities the same is determined based on the prevaling market prices.(b) Other than Subsidiaries, associates and Joint ventures are measured at Fair Value of the Investment and is charged/added to "Other Comprehensive Income". Fair Valuation of unlisted securities is determined based on the valuation reports and in case of listed securities the same is determined based on the prevaling market prices.

Unsecured, considered good (unless otherwise stated)

Notes to financial statement for the year ended March 31, 2018(Amount in `)

Particulars As at



March 31, 2016

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Note - 7Deferred Tax Assets (Net)

Tax expenses(a) Amounts recognised in Statement of profit and loss


INR

Current income tax (Changes in estimates related to prior period ) - -

- Deferred income tax liability /(asset), netOrigination and reversal of temporary differences -23,31,04,846

Others -

Deferred tax expense -23,31,04,846 (A). Tax expense for the year charged to the statement of profit and loss -23,31,04,846

(b) Amounts recognised in Other Comprehensive Income

Before tax Tax (expenses) benefit

Net of tax

INR INR INR Items that will not be reclassified to profit or lossRemeasurements of the defined benefit plans 67,13,991 -18,67,832 48,46,158 Equity Instruments through Other Comprehensive Income (50,76,300) -50,76,300 Items that will be reclassified to profit or loss -

(B) Total 16,37,691 -18,67,832 -2,30,142 (C) Total Tax expenses for the year (A+B) 23,12,37,014

(D) Reconciliation of effective tax rate For the year ended

March 31, 2018 INR

The income tax expenses for the year can be reconciled to the accounting profit as follows:Profit before tax -1,19,40,27,749

Applicable Tax Rate 30.90%Computed Tax Expense -36,89,54,574

Tax effect of :Expenses disallowed 32,34,88,543

Additional allowances -8,62,43,589

Current Tax -13,17,09,621

Current Tax Provision (A) 0Incremental Deferred Tax Liability on account of Tangible and Intangible Assets -2,69,79,778

Incremental Deferred Tax Asset on account of Financial Assets and Other Items 25,82,16,792

Deferred tax Provision (B) 23,12,37,014

Tax Expenses recognised in Statement of Profit and Loss (A+B) 23,12,37,014Effective Tax Rate -19.37%

Tax for earlier years




63

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

(d) M

ovem

ent i

n de

ferr

ed ta

x ba

lanc

esN

et b

alan

ce A

pril

1, 2

017

Rec

ogni

sed

in p

rofit

or

loss

R

ecog

nise

d in

OCI

B

alan

ce M

arch

31,

20

18

Def

erre

d ta

x as

set

Def

erre

d ta

x lia

bilit

y

Def

erre

d Ta

x Li

abili

ties

(4

7,92

,11,

151)

(2,6

9,79

,778

)0

(50,

61,9

0,92

9)(5

0,61

,90,

929)

Dep

reci

atio

n (4

7,92

,11,

151)

(2,6

9,79

,778

)

(50,

61,9

0,92

9)

(5

0,61

,90,

929)

Def

erre

d Ta

x A

sset

s 96

,56,

73,3

37

26,0

0,84

,624

(18,

67,8

32)

1,22

,38,

90,1

29

1,

22,3

8,90

,129

Prov

isio

n fo

r dou

btfu

l deb

ts &

adv

ance

s 3,

86,6

9,93

0

(4

1,40

,107

)

3,

45,2

9,82

3

3

,45,

29,8

23

MAT

Cre

dit a

vaila

ble

8,25

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178

8,25

,54,

178

8,2

5,54

,178

O

ther

tim

ing

diff

eren

ces

84,4

4,49

,229

26

,42,

24,7

31

(18,

67,8

32)

1,10

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06,1

28

1

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68,0

6,12

8

Net

Def

erre

d ta

x 48

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62,1

86

23,3

1,04

,846

(1

8,67

,832

)

71

,76,

99,2

00

1,22

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90,1

29

(50,

61,9

0,92

9)

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018

The

Com

pany

offs

ets

tax

asse

ts a

nd li

abili

ties

if an

d on

ly if

it h

as a

lega

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ght t

o se

t off

curr

ent t

ax a

sset

s an

d cu

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t tax

liab

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s an

d th

e de

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and

def

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d ta

x lia

bilit

ies

rela

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in

com

e ta

xes

levi

ed b

y th

e sa

me

tax

auth

ority

. Sig

nific

ant m

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emen

t jud

gem

ent i

s re

quire

d in

det

erm

inin

g pr

ovis

ion

for i

ncom

e ta

x, d

efer

red

inco

me

tax

asse

ts a

nd li

abili

ties

and

reco

vera

bilit

y of

def

erre

d in

com

e ta

x as

sets

. The

reco

vera

bilit

y of

def

erre

d in

com

e ta

x as

sets

is b

ased

on

estim

ates

of t

axab

le in

com

e by

eac

h ju

risdi

ctio

n in

whi

ch th

e re

leva

nt e

ntity

ope

rate

s an

d th

e pe

riod

over

whi

ch d

efer

red

inco

me

tax

asse

ts w

ill b

e re

cove

red.

Not

e - 8

Inve

ntor

ies

(As

valu

ed a

nd c

erti

fied

by th

e M

anag

emen

t)

a) R

aw M

ater

ials

(inc

ludi

ng p

acki

ng m

ater

ial)

66,4

8,88

6

77,9

7,24

4

10,3

7,20

,215

b) F

inis

hed

good

s 58

,35,

820

1,64

,18,

178

4,72

,71,

518

1,24

,84,

706

2,42

,15,

422

15,0

9,91

,733

(At l

ower

of c

ost a

nd n

et re

alis

able

val

ue e

xcep

t for

sto

ck-in

-tra

de

mea

sure

d at

fair

valu

e)

Not

e - 9

aTr

ade

Rece

ivab

les

Tra

de R

ecei

vabl

es

Sec

ured

, con

side

red

good

[Out

stan

ding

for m

ore

than

six

mon

ths

12,4

1,75

,337

12,9

7,00

,062

50,2

9,28

,343

Uns

ecur

ed, c

onsi

dere

d go

od

36,3

2,73

9

20,1

1,12

7

40,9

4,99

8

Rec

eiva

bles

from

rela

ted

part

ies

56

,70,

00,0

00

56

,70,

00,0

00

56

,70,

00,0

00

69,4

8,08

,076

69

,87,

11,1

89

1,07

,40,

23,3

41

Les

s: P

rovi

sion

for B

ad D

ebts

-

-

22

,24,

49,5

25

Les

s: A

llow

ence

for d

oubt

ful d

ebts

[Ref

er N

ote

38(ii

)] 12

,41,

18,7

02

12,5

1,45

,404

15

,24,

57,3

17

Tot

al R

ecei

vabl

es

57,0

6,89

,374

57

,35,

65,7

85

69,9

1,16

,499

(i)he

abo

ve in

clud

es d

ebts

due

inc

lude

s cl

aim

set

tlem

ent o

f Rs.

56.7

0 cr

ores

as

per A

rbitr

atio

n aw

ard

64


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TES

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INA

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EMEN

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Note - 9bCash and cash equivalents

Balances with Banks i) In Current Accounts 23,091 26,95,519 10,91,525 Cheques on Hand - - 1,45,506 Cash on hand 42,985 1,31,052 3,81,615

66,076 28,26,571 16,18,646Note - 9cBank balances Other than cash and cash equivalents above

In Deposit Accounts More than 3 months but less than or equal to 12 months - Against Margin Money [ Under lien ] 76,86,103

67,98,786

2,13,23,642

76,86,103 67,98,786 2,13,23,642

Note - 9dLoansUnsecured, considered good (unless otherwise stated):

Loans to Related parties 4,90,42,072

4,90,15,167

4,93,71,270

Other Trade Advances 6,20,161

6,20,161

26,62,434

4,96,62,233

4,96,35,328

5,20,33,704 Note - 10

Other Current Assets

a) Advances recoverable in cash or in kind or for value to be received Considered good 58,70,028

87,91,584

43,24,845

b) Other Trade Advance 9,94,025 35,10,508 95,41,494 Considered good

68,64,053 1,23,02,092 1,38,66,339

Note - 11Equity share capital

(a) Authorisedi) Equity Shares3,65,00,000 ( FY 2016-2017 3,65,00,000 and April 1, 2016: 3,65,00,000) of face value of ` 10/- each

36,50,00,000

36,50,00,000

36,50,00,000

36,50,00,000

36,50,00,000

36,50,00,000

(b) Issued, Subscribed and paid-upi) Equity Shares2,98,16,300( FY 2016-2017 2,98,16,300 and April 1, 2016: 2,98,16,300) of face value of ` 10/- each

29,81,63,000 29,81,63,000 29,81,63,000

29,81,63,000 29,81,63,000 29,81,63,000 (c) Rights, Preferences and Restrictions

attached to shares

(d) Lock in Restrictions

(e) Details of shares held by shareholders holding more than 5% shares in the Company.

Equity Shares: The Company has one class of equity shares having at par value of `10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

None of the shares are subject to lock in restrictions.

(Amount in `)Particulars As at



March 31, 2016



65

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Particulars March 31, 2018

% March 31, 2017

% March 31, 2016

%

EQUITY SHARESRajratan Exports Private Limited 66,66,665 22.36 66,66,665 22.36 66,66,665 22.36

PDPL Holdings Private Limited 32,17,120 10.79 32,17,120 10.79 32,17,120 10.79 Mahaganpati Investments Private Limited 16,00,000 5.37 16,00,000 5.37 16,00,000 5.37 MVG Mercantile Private Limited 97,22,966 32.61 97,22,966 32.61 97,22,966 32.61

(f ) For the period of five years immediately preceding the date as at which the Balance Sheet is prepared:

(a) Aggregate number and class of shares alloted as fully paid- up pursuant to contract (s) without

payment being received in cash:

Nil

(b) Aggregate number and class of shares alloted as fully paid- up by way of bonus shares:

Nil

( c) Aggregate number and class of shares bought back:

Nil

(g) For reconciliation of number of shares outstanding at the beginning and at the end of the year - Refer Note (a) of Statement of Changes in Equity (SOCIE).


Note - 12Other EquityA Amalgamation Reserve 3,44,22,288 3,44,22,288 3,44,22,288

B Securities Premium Reserve 2,03,70,74,013 2,03,70,74,013 2,03,70,74,013C General Reserve 8,19,51,123 8,19,51,123 8,19,51,123

D Capital Reserve 1,00,000 1,00,000 1,00,000

E Revaluation Reserve 2,63,37,06,474 2,63,37,06,474 2,63,37,06,474

F Equity Component of Compound Financial Instrument

34,55,08,338

34,55,08,338

34,55,08,338

G Retained Earnings -6,50,86,83,038

-5,54,75,29,993

-4,40,36,09,478

TOTAL -1,37,59,20,802

-41,47,67,757

72,91,52,758

A Amalgamation Reserve

Balance as at the beginning of the year 3,44,22,288 3,44,22,288 3,44,22,288Less: Utilised during the year - - -Balance as at the end of the year 3,44,22,288 3,44,22,288 3,44,22,288

B Securities Premium Reserve Balance as at the beginning of the year 2,03,70,74,013 2,03,70,74,013 2,39,88,21,970

-

-

27,50,00,000

Less: Transfer -

-

63,67,47,957

Balance as at the end of the year 2,03,70,74,013

2,03,70,74,013

2,03,70,74,013

C General Reserve Balance as at the beginning of the year 8,19,51,123

8,19,51,123

8,19,51,123

Add: Transfer from Statement of Profit and Loss -

-

-

Balance as at the end of the year 8,19,51,123

8,19,51,123

8,19,51,123

D Capital Reserve Balance as at the beginning of the year 1,00,000

1,00,000

31,00,000

Less: Tranfer to Other Current Liabilities -

30,00,000

Balance as at the end of the year 1,00,000

1,00,000

1,00,000

Add: Premium on shares issued/call money received during the year


66


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March 31, 2016


E Revaluation ReserveBalance as at the beginning of the year 2,63,37,06,474 2,63,37,06,474 1,19,14,109Addition during the year - - 2,62,17,92,365Balance as at the end of the year 2,63,37,06,474

2,63,37,06,474

2,63,37,06,474

F Equity Component of Compound Financial Instrument Balance as at the beginning of the year 34,55,08,338

34,55,08,338

Addition/(deletion) during the year -

34,55,08,338

Balance as at the end of the year 34,55,08,338

34,55,08,338

34,55,08,338

G Retained EarningsBalance as at the begining of the year -5,54,75,29,993

-4,40,36,09,478

-1,87,64,02,129

Add: Net Profit/(Loss) for the year/period -96,09,22,903

-1,14,08,70,730

-2,52,77,18,349

Less: 16,37,691

-68,11,196

5,11,000

Less : Tax Impact on above -18,67,832

37,61,411

Balance as at the end of the year -6,50,86,83,038

-5,54,75,29,993

-4,40,36,09,478

- Items of OCI directly Reconised in Retained Earnings [ Refer Note 28]

H NATURE AND PURPOSE OF RESERVES

(i) Amalgamation ReserveAmalgamation Reserve was aquired at the time of amalgamation of PFL Holding Private Limited & GFL Holding Private Limited in financial year 2008-09 amounting to 3,44,22,288/-

(ii) Securities Premium Reserve Securities Premium Reserve is created on recording of premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

(iii) General Reserve The same is Created out of Surplus profits transferred as per the provisions of the Act, it is utilised as per provisions of the Act.

(iv) Revaluation Reserve

(v) Equity Component of Compound Financial Instrument

(vi) Retained Earnings

Revaluation Reserve was created in financial year 1992-93 amounting to 1,25,61,097. for fair valued certain items of Plant Property and Equipments and in financial year 2015-16 the compay increasd the value of asrawad Land amounting to 2,62,17,92,365.

The company has elected to recognise changes in fair value of certain class of investements in other comprehensive income. These faie value changes are accumulated within this reserve and shall be adjusted on derecognition of investment.

The same is created out of profits over the years and shall be utilised as per the provisions of the Act.

--



67

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March 31, 2016


Note - 13Borrowings

A Term Loans from Banks [ Refer Note E(ii) and F below ] Secured - Rupee Loans 2,31,21,43,025

2,94,08,84,025

3,43,84,25,024

B Deferred payment liabilities Unsecured Deposit from Suppliers and Stockists 3,56,95,086

4,16,74,290

4,82,09,257

Loans & Advances From Related Parties 29,01,89,331

28,93,89,331

28,93,89,331

C Cumulative Redeemable Preference Shares [Refer Note H below]

-

-

Unsecured35,00,000 (35,00,000) Shares, 0% Non Cumulative,Non convertible Redeemable Preference Share of Rs. 10/-Each

3,41,66,416

3,24,99,252

3,50,00,000

Fair valuation of Preference shares issued 8,33,584

16,67,164

1,32,62,995

Tranfer to Equity Component of Compound Financial Instrument

-1,57,63,743

3,50,00,000

3,41,66,416

3,24,99,252

25,00,000 (25,00,000) Shares, 0% Non convertible Redeemable Preference Share of Rs. 10/- Each

29,28,55,006

27,85,65,014

30,00,00,000

[Inculading Premium of 275,000,000]Fair valuation of Preference shares issued 71,44,994

1,42,89,992

11,36,82,810


-13,51,17,796

30,00,00,000

29,28,55,006

27,85,65,014

70,37,898 (70,37,898) -0% Redeemable Preference shares of Rs. 10/- each [Inculading Premium of 361,747,957]

42,18,35,120

40,12,51,488

43,21,26,937

Fair valuation of Preference shares issued 1,02,91,816 2,05,83,632 16,37,51,349Tranfer to Equity Component of Compound Financial Instrument

-19,46,26,798

43,21,26,936 42,18,35,120 40,12,51,488

3,40,51,54,378 4,02,08,04,188 4,48,83,39,366


68


NO

TES

TO F

INA

NCI

AL

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EMEN

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March 31, 2016

PARE

NTE

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(IND

IA) L

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Term

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ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

secu

red

by fi

rst

pari

pass

u ch

arge

on

entir

e fix

ed a

sset

s of

the

Com

pany

and

sec

ond

parip

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of th

e Co

mpa

ny a

nd fi

rst p

ari p

assu

cha

rge

byw

ay o

f equ

itabl

e m

orta

ge o

f pro

pert

y be

long

ing

to D

iam

ond

Crys

tal P

rivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

cha

rge

by w

ay

ofpl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

sha

res

of

M

/s. P

aren

tera

l Dru

gs (I

ndia

) Li

mite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt.

Ltd(

97,2

2,96

6),

PDPL

Hol

ding

s Pvt

. Ltd

(32

,17,

120)

, PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pvt

. Lt

d (3

0,98

6) a

nd p

erso

nal g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td, P

aren

tera

l Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

M

erca

ntile

Pvt

. Ltd

, P

DPL

Hol

ding

s Pv

t. Lt

d, P

DPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, and

Par

ente

ral C

omm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018


69

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Term

Loa

n IV

fr

om S

tate

Ban

k of

Indi

a

BR

+ 2

.00%

2

021-

2022

R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

from

June

201

4 on

sa

nctio

ned

amou

nt R

s. 4

5.56

Cr

ore

4

9,02

,65,

957

43

,92,

62,5

41

3

9,25

,97,

403

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd s

econ

d pa

ri pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f eq

uita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Par

ente

ral

Med

icin

es L

imite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs t

o Sh

ri M

anoh

arla

l Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t exc

lusi

ve c

harg

e

by w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

cha

rge

by w

ay o

f ple

dge

of t

otal

2,

06,4

9,24

3 no

s of

equ

ity s

hare

s of

M

/s. P

aren

tera

l Dru

gs (I

ndia

) L

imite

d he

ld in

the

na

meo

f Raj

rata

n Ex

port

s Pvt

. Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt.

Ltd

(97,

22,9

66),

PD

PL

Hol

ding

s Pv

t. Lt

d (

32,1

7,12

0),

PDPL

Sec

uriti

es P

vt.

Ltd

(6,1

1,50

6),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pvt

. Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Lt

d, P

aren

tera

l Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

Mer

cant

ile P

vt. L

td,

PDPL

Hol

ding

s Pv

t. Lt

d, P

DPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, an

d Pa

rent

eral

Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Term

Loa

n V

from

St

ate

Bank

of

Indi

a

BR

+ 2

.00%

2

022-

2023

R

epay

able

in 2

4 Q

uart

erly

In

stal

lmen

t sta

rt

from

Mar

ch 2

016

on s

anct

ione

d am

ount

Rs.

66.

60

Cror

e

8

8,01

,74,

320

78

,86,

08,3

00

7

0,48

,04,

912

Corp

orat

e Lo

an I

from

Sta

te B

ank

of In

dia

BR

+ 2

.00%

2

021-

2022

R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

from

June

201

4 on

sa

nctio

ned

amou

nt R

s. 2

7.98

Cr

ore

3

0,11

,14,

234

26

,98,

60,3

66

2

4,11

,82,

995

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd s

econ

d pa

ri pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

char

ge b

y w

ayof

eq

uita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Par

ente

ral

Med

icin

es L

imite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs t

o Sh

ri M

anoh

arla

l Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t ex

clus

ive

char

ge

by

way

of p

ledg

e of

fixe

d de

posi

t and

firs

t par

i pas

su c

harg

e by

way

of p

ledg

e of

tot

al

2,06

,49,

243

nos

of e

quity

sha

res

of

M/s

. Par

ente

ral D

rugs

(In

dia)

Lim

ited

held

in t

he

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (9

7,22

,966

), P

DPL

H

oldi

ngs

Pvt.

Ltd

(32

,17,

120)

, PD

PL S

ecur

ities

Pvt

. Lt

d (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt. L

td (3

0,98

6) a

nd

pers

onal

gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri M

anoh

arla

l Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Pa

rent

eral

Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

Mer

cant

ile P

vt. L

td,

PDPL

H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Lt

d, M

ahag

anpa

ti In

vest

men

t Pv

t. Lt

d,

and

Pare

nter

al C

omm

erci

al S

ervi

ces P

vt. L

td.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd s

econ

d pa

ri pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f eq

uita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Par

ente

ral

Med

icin

es L

imite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs t

o Sh

ri M

anoh

arla

l Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t exc

lusi

ve c

harg

e

by w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

cha

rge

by w

ay o

f ple

dge

of t

otal

2,

06,4

9,24

3 no

s of

equ

ity s

hare

s of

M

/s. P

aren

tera

l Dru

gs (

Indi

a) L

imite

d he

ld in

the

na

meo

f Raj

rata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Ltd

(97,

22,9

66),

PD

PL

Hol

ding

s Pv

t. Lt

d (

32,1

7,12

0),

PDPL

Sec

uriti

es P

vt.

Ltd

(6,1

1,50

6),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pvt

. Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of D

iam

ond

Crys

tal P

vt. L

td,

Pare

nter

al M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL

Hol

ding

s Pv

t. Lt

d, P

DPL

Sec

uriti

es P

vt.

Ltd,

Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018

70


NO

TES

TO F

INA

NCI

AL

STAT

EMEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Corp

orat

e Lo

an II

fr

om S

tate

Ban

k of

Indi

a

BR

+ 2

.00%

2

019-

2020

R

epay

able

in 2

4 Q

uart

erly

In

stal

lmen

t sta

rt

from

June

201

4 on

sa

nctio

ned

amou

nt R

s. 11

.00

Cror

e

1

3,09

,35,

948

11

,73,

10,6

96

1

0,48

,44,

388

Corp

orat

e Lo

an II

I fr

om S

tate

Ban

k of

Indi

a

BR

+ 2

.00%

2

020-

2021

R

epay

able

in 2

4 Q

uart

erly

In

stal

lmen

t sta

rt

from

Mar

ch 2

016

on s

anct

ione

d am

ount

Rs.

12.3

9 Cr

ore

1

3,91

,29,

650

12

,47,

25,2

42

1

1,14

,71,

009

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd se

cond

par

i pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

cha

rge

by w

ay

of e

quita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Lim

ited

situ

ated

at

And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vi

nod

Kum

ar G

upta

and

firs

t ex

clus

ive

char

ge

by

way

of p

ledg

e of

fixe

d de

posi

t and

firs

t par

i pas

su ch

arge

by

way

of

pled

ge o

f to

tal 2

,06,

49,2

43 n

os o

f equ

ity sh

ares

of

M/s

. Par

ente

ral D

rugs

(Ind

ia) L

imite

d he

ld i

n th

e na

meo

f Ra

jrata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Lt

d (9

7,22

,966

), P

DPL

Hol

ding

s Pv

t. Lt

d (

32,1

7,12

0), P

DPL

Sec

uriti

es P

vt. L

td (

6,11

,506

), M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd se

cond

par

i pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

cha

rge

by w

ay

of e

quita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Lim

ited

situ

ated

at A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se

prop

erty

bel

ongs

to

Shri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt.

Ltd

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32

,17,

120)

, PD

PL S

ecur

ities

Pvt

. Ltd

(6,

11,5

06),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pv

t. Lt

d (3

0,98

6) a

nd p

erso

nal g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td, P

aren

tera

l Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

M

erca

ntile

Pvt

. Ltd

, P

DPL

Hol

ding

s Pv

t. Lt

d, P

DPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, and

Par

ente

ral C

omm

erci

al S

ervi

ces P

vt. L

td.

Wor

king

Cap

ital

Term

Loa

nfro

m

Stat

e Ba

nk o

f In

dia

11%

202

1-20

22

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fr

om Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

69.0

0 Cr

ore

8

9,71

,74,

522

80

,49,

63,2

98

7

2,15

,63,

490

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd se

cond

par

i pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

cha

rge

by w

ay

of e

quita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Lim

ited

situ

ated

at A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se

prop

erty

bel

ongs

to

Shri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt.

Ltd

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32

,17,

120)

, PD

PL S

ecur

ities

Pvt

. Ltd

(6,

11,5

06),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pv

t. Lt

d (3

0,98

6) a

nd p

erso

nal g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td, P

aren

tera

l Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

M

erca

ntile

Pvt

. Ltd

, P

DPL

Hol

ding

s Pv

t. Lt

d, P

DPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, and

Par

ente

ral C

omm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018


71

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Fund

ed In

tere

st

Term

Loa

n fr

om

Stat

e Ba

nk o

f In

dia

11%

201

1-20

22

Rep

ayab

le in

24

Qua

rter

ly

Inst

allm

ent s

tart

fr

om Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

59.0

0 Cr

ore

7

3,47

,02,

496

65

,79,

90,7

25

5

6,43

,41,

008

secu

red

by fi

rst p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Term

Loa

n I f

rom

Pu

njab

Nat

iona

l Ba

nk

BBR

+ 4

.25%

2

021-

2022

R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

from

June

201

4on

sanc

tione

d am

ount

Rs.

0.58

Cr

ore

7

1,46

,940

6

3,69

,828

5

6,97

,684

Term

Loa

n II

from

Pu

njab

Nat

iona

l Ba

nk

BBR

+ 4

.25%

2

021-

2022

R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

from

June

201

4 on

sa

nctio

ned

amou

nt R

s. 0.

76

Cror

e

6

3,88

,658

5

3,37

,431

4

4,28

,204

secu

red

by fi

rst p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

secu

red

by fi

rst p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018

72


NO

TES

TO F

INA

NCI

AL

STAT

EMEN

T

Term

Loa

n III

from

Pu

njab

Nat

iona

l Ba

nk

BBR

+ 5

.00%

2

021-

2022

R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

from

June

201

6 on

sa

nctio

ned

amou

nt R

s. 14

.03

Cror

e

2

0,39

,98,

171

17

,64,

42,0

95

1

5,26

,08,

295

Corp

orat

e Lo

an I

from

Pun

jab

natio

na B

ank

BBR

+ 4

.50%

2

019-

2020

R

epay

able

in 2

4 Q

uart

erly

In

stal

lmen

t sta

rt

from

Mar

ch 2

016

on s

anct

ione

d am

ount

Rs.

19.0

0 Cr

ore

2

6,31

,25,

962

22

,83,

44,4

36

1

9,84

,77,

901

secu

red

by fi

rst p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

ecur

ed b

y fir

st p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets

of th

e Co

mpa

ny a

nd fi

rst p

ari p

assu

cha

rge

by

way

of e

quita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at

Nem

awar

Roa

d, In

dore

and

equ

itabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Par

ente

ral M

edic

ines

Lim

ited

situ

ated

at

And

heri

(W) M

umba

i a

nd m

ortg

age

of

hous

e pr

oper

ty b

elon

gs to

Shr

i Man

ohar

lal G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd fi

rst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

cha

rge

by w

ay

of p

ledg

e of

to

tal 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M/s

. Par

ente

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rugs

(Ind

ia)

Lim

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held

in th

e na

meo

f Raj

rata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Lt

d (9

7,22

,966

), P

DPL

Hol

ding

s Pvt

. Ltd

(32

,17,

120)

, PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pvt

. Lt

d (3

0,98

6) a

nd p

erso

nal g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td, P

aren

tera

l Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

M

erca

ntile

Pvt

. Ltd

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PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Corp

orat

e Lo

an II

fr

om P

unja

b na

tiona

Ban

k

BBR

+ 5

.00%

2

019-

2020

R

epay

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in 1

6 Q

uart

erly

In

stal

lmen

t sta

rt

from

Mar

ch 2

016

on s

anct

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d am

ount

Rs.

2.61

Cr

ore

3,7

9,27

,452

3,2

8,04

,211

2,

83,7

3,01

8 se

cure

d by

firs

t par

i pas

su ch

arge

on

entir

e fix

ed a

sset

s of t

he C

ompa

ny a

nd se

cond

par

i pa

ssu

char

ge o

n en

tire

curr

ent a

sset

s of t

he C

ompa

ny a

nd fi

rst p

ari p

assu

char

ge b

y w

ay

of e

quita

ble

mor

tage

of

prop

erty

bel

ongi

ng t

o D

iam

ond

Crys

tal

Priv

ate

Lim

ited

situ

ated

at

Nem

awar

Roa

d, In

dore

and

equ

itabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Lim

ited

situ

ated

at A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se

prop

erty

bel

ongs

to

Shri

Man

ohar

lal

Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t ex

clus

ive

char

ge

by

way

of p

ledg

e of

fixe

d de

posi

t and

firs

t par

i pas

su ch

arge

by

way

of

pled

ge o

f to

tal 2

,06,

49,2

43 n

os o

f equ

ity sh

ares

of

M/s

. Par

ente

ral D

rugs

(Ind

ia) L

imite

d he

ld i

n th

e na

meo

f Ra

jrata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Ltd

(9

7,22

,966

), P

DPL

Hol

ding

s Pv

t. Lt

d (3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6),

Mah

agan

pati

Inve

stm

ent P

vt. L

td (1

6,00

,000

) and

Par

ente

ral

Com

mer

cial

Ser

vice

s Pvt

. Lt

d (3

0,98

6) a

nd p

erso

nal g

uara

ntee

of f

our D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td, P

aren

tera

l Med

icin

es L

imite

d, R

ajra

tan

Exp

orts

Pvt

. Ltd

, MVG

M

erca

ntile

Pvt

. Ltd

, P

DPL

Hol

ding

s Pv

t. Lt

d, P

DPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, and

Par

ente

ral C

omm

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al S

ervi

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vt. L

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PARE

NTE

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(IND

IA) L

IMIT

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Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

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018


73

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

PARE

NTE

RAL

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(IND

IA) L

IMIT

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5,2

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1,7

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Non

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as

per b

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ce s

heet

Less

: Cl

assi

fied

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r

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rent

mat

uriti

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rm d

ebts

[ Re

fer N

ote

15 (

c) ]

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rest

acc

rued

[ Re

fer N

ote

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c) ]

Wor

king

Cap

ital

Term

Loa

n fr

om

Punj

ab N

atio

nal

Bank

11%

202

1-20

22

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fr

om Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

27.0

0 Cr

ore

3

6,01

,14,

863

31

,99,

42,2

30

2

8,67

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946

secu

red

by fi

rst p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Fund

ed In

tere

st

Term

Loa

n fr

om

Punj

ab N

atio

nal

Bank

11%

2017

-201

8

Rep

ayab

le in

24

Qua

rter

ly

Inst

allm

ent s

tart

fr

om Ju

ne 2

014

on s

anct

ione

d am

ount

Rs.

10.4

8 Cr

ore

1

2,11

,07,

446

10

,75,

97,2

98

9,6

4,37

,684

secu

red

by fi

rst p

ari p

assu

char

ge o

n en

tire

fixed

ass

ets o

f the

Com

pany

and

seco

nd p

ari

pass

u ch

arge

on

entir

e cu

rren

t ass

ets o

f the

Com

pany

and

firs

t par

i pas

su ch

arge

by

way

of

equ

itabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Pa

rent

eral

Med

icin

es L

imite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pr

oper

ty b

elon

gs t

o Sh

ri M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

b

y w

ay o

f ple

dge

of fi

xed

depo

sit a

nd fi

rst p

ari p

assu

char

ge b

y w

ay o

f pl

edge

of

tota

l 2,0

6,49

,243

nos

of e

quity

shar

es o

f M

/s. P

aren

tera

l Dru

gs (I

ndia

) Lim

ited

held

in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(32,

17,1

20),

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Sec

uriti

es P

vt. L

td (6

,11,

506)

, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces P

vt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri G

.D. G

arg,

and

Cor

pora

te G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pvt

. Ltd

, Par

ente

ral M

edic

ines

Lim

ited,

Raj

rata

n E

xpor

ts P

vt. L

td, M

VG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent P

vt. L

td, a

nd P

aren

tera

l Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018

74


NO

TES

TO F

INA

NCI

AL

STAT

EMEN

T


E

Due date for payment

of Principal Amount of Interest accrued

Term Loan I from State Bank of India 1,15,89,625 88,51,497 JAN16 TO MAR 18

Term Loan II from State Bank of India 5,02,63,202 3,76,36,793 JAN16 TO MAR 18

Term Loan III from State Bank of India 15,47,60,901 11,61,55,422 JAN16 TO MAR 18

Term Loan IV from State Bank of India 14,95,66,491 11,23,99,466 JAN16 TO MAR 18

Term Loan V from State Bank of India 4,68,99,390 21,41,74,931 JAN16 TO MAR 18

Corporate Loan I from State Bank of India 9,16,06,315 6,89,07,919 JAN16 TO MAR 18

Corporate Loan II from State Bank of India 3,12,89,129 2,99,79,820 JAN16 TO MAR 18

Corporate Loan III from State Bank of India 2,86,00,000 3,38,29,650 JAN16 TO MAR 18

Working Capital Term Loanfrom State Bank of India

4,02,67,517 20,15,96,005 JAN16 TO MAR 18

Funded Interest Term Loan from State Bank of India

30,74,13,268 15,79,81,204 JAN16 TO MAR 18

Term Loan I from Punjab National Bank 15,40,000 18,71,941 JAN16 TO MAR 18

Term Loan II from Punjab National Bank 21,45,000 24,88,658 JAN16 TO MAR 18

Term Loan III from Punjab National Bank 95,99,230 6,36,98,941 JAN16 TO MAR 18

Corporate Loan I from Punjab nationa Bank 3,83,94,250 8,27,09,712 JAN16 TO MAR 18

Corporate Loan II from Punjab nationa Bank 59,52,000 1,21,75,452 JAN16 TO MAR 18

Working Capital Term Loan from Punjab National Bank

1,36,73,250 9,37,55,612 JAN16 TO MAR 18

Funded Interest Term Loan from Punjab National Bank

8,94,75,000 3,16,32,446 JAN16 TO MAR 18

Total 1,07,30,34,568 1,26,98,45,467

Particulars of Loans

During the year, the Company has defaulted in repayment of the loans which remained outstanding, are as follows:

Amount of continuing default as on March 31, 2018 ( in `)



75

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T


F

(iv) Reconcilation of number of shares As atMarch 31, 2018

As atMarch 31, 2017

As atApril 1, 2016

Balance at the Beginning of the year 2,98,16,300 2,98,16,300 2,98,16,300

Issued during the year (conversion of preference shares)

- - -

Balance at the End of the year 2,98,16,300 2,98,16,300 2,98,16,300

(iii) 2,500,000 [F.Y. 2016-17 2,500,000 and April 1, 2016 2,500,000] 0% redeemable preference shares shares issued in financial year 2015-16 carries a 0% dividend right & can be redeemed within a period of twenty years.

(i) 3,500,000 [F.Y. 2016-17 3,500,000 and April 1, 2016 3,500,000] 0% Non Cumulative, Non Convertible redeemable preference shares issued in financial year 2007-08 carries a 0% dividend right & can be redeemed within a period of twenty years.

(ii) 7,037,898 [F.Y. 2016-17 7,037,898 and April 1, 2016 7,037,898] 0% Non Cumulative, Non Convertible redeemable preference shares issued in financial year 2008-09 to 2013-14 carries a 0% dividend right & can be redeemed within a period of twenty years.

Rights, Preferences and Restrictions attached to shares

Particulars March 31, 2018 % March 31, 2017 % March 31, 2016 %

PREFERANCE SHAREPDPL Holdings Private Limited 35,00,000 26.84 35,00,000 26.84 35,00,000 26.84

Mahaganpati Investments Private Limited

70,37,898 53.98 70,37,898 53.98 70,37,898 53.98

Anitas Exports Private Limited 25,00,000 19.17 25,00,000 19.17 25,00,000 19.17

Details of shares held by shareholders holding more than 5% shares in the Company.

Note - 14Others non current liabilities

(a) Government Grants - Deferred Income [ Refer Note (i) below]

16,50,000 18,00,000 19,50,000

16,50,000 18,00,000 19,50,000 Note:(i) Government Grants - Deferred IncomeOpening Balance 19,50,000 21,00,000 21,00,000 Grants during the year - - -

Less: Released to profit and loss [ Refer Note 18(C)(iii)]

1,50,000 1,50,000 -

Closing balance 18,00,000 19,50,000 21,00,000

Classified under Non-Current Liabilities [ Refer Note 14 (a)]

16,50,000 18,00,000 19,50,000

Classified under Current Liabilities [ Refer Note 16 (c)]

1,50,000 1,50,000 1,50,000


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March 31, 2016


B Particulars Interest Rate SecurityCash credit from State Bank of India

BBR + 2%

Cash credit from Punjab National Bank

BBR + 2%

Terms of RepaymentSecured by first pari passu charge on entire current assets of the Company and second pari passu charge on entire fixed assets of the Company and first pari passu charge by way of equitable mortage of property belonging to Diamond Crystal Private Limited situated at Nemawar Road, Indore and equitable mortgage of office property belong to Parenteral Medicines Limited situated at Andheri (W) Mumbai and mortgage of house property belongs to Shri Manoharlal Gupta and Shri Vinod Kumar Gupta and first exclusive charge by way of pledge of fixed deposit and first pari passu charge by way of pledge of total 2,06,49,243 nos of equity shares of M/s. Parenteral Drugs (India) Limited held in the name of Rajratan Exports Pvt. Ltd (54,66,665), MVG Mercantile Pvt. Ltd (97,22,966), PDPL Holdings Pvt. Ltd (32,17,120), PDPL Securities Pvt. Ltd (6,11,506), Mahaganpati Investment Pvt. Ltd (16,00,000) and Parenteral Commercial Services Pvt. Ltd (30,986) and personal guarantee of four Directors, Smt. Alpana Gupta, HUF of Shri Manoharlal Gupta, Shri Vinod Gupta and Shri G.D. Garg, and Corporate Guarantee of Diamond Crystal Pvt. Ltd, Parenteral Medicines Limited, Rajratan Exports Pvt. Ltd, MVG Mercantile Pvt. Ltd, PDPL Holdings Pvt. Ltd, PDPL Securities. Pvt. Ltd, Mahaganpati Investment Pvt. Ltd, and Parenteral Commercial Services Pvt. Ltd.

Repayable on demand during the facility tenure of 12 months

R e p ay a b l e o n d e m a n d during the facility tenure of 12 months

Secured by first pari passu charge on entire current assets of the Company and second pari passu charge on entire fixed assets of the Company and first pari passu charge by way of equitable mortage of property belonging toDiamond Crystal Private Limited situated at Nemawar Road, Indore and equitable mortgage of office property belong to Parenteral Medicines Limited situated at Andheri (W) Mumbai and mortgage of house property belongs to Shri Manoharlal Gupta and Shri Vinod Kumar Gupta and first exclusive charge by way of pledge of fixed deposit and first pari passu charge by way of pledge of total 2,06,49,243 nos of equity shares of M/s. Parenteral Drugs (India) Limited held in the name of Rajratan Exports Pvt. Ltd (54,66,665), MVG Mercantile Pvt. Ltd (97,22,966), PDPL Holdings Pvt. Ltd (32,17,120), PDPL Securities Pvt. Ltd (6,11,506), Mahaganpati Investment Pvt. Ltd (16,00,000) and Parenteral Commercial Services Pvt. Ltd (30,986) and personal guarantee of four Directors, Smt. Alpana Gupta, HUF of Shri Manoharlal Gupta, Shri Vinod Gupta and Shri G.D. Garg, and Corporate Guarantee of Diamond Crystal Pvt. Ltd, Parenteral Medicines Limited, Rajratan Exports Pvt. Ltd, MVG Mercantile Pvt. Ltd, PDPL Holdings Pvt. Ltd, PDPL Securities. Pvt. Ltd, Mahaganpati Investment Pvt. Ltd, and Parenteral Commercial Services Pvt. Ltd.

Note - 15 aBorrowingsA Loans repayable on demand

i) Secured From Banks

Working Capital Loans

1,27,93,54,107 1,27,93,54,107 1,27,87,36,693

1,27,93,54,107 1,27,93,54,107 1,27,87,36,693




March 31, 2016



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C Details of Loans Recalled

NIL

D During the year, the Company has defaulted in repayment of the loan which remain outstanding are as follows:Due date Amount paid Date of

payment

of Principal Amount of Interest accrued for payment

Cash credit from State Bank of India

1,00,03,37,252

41,31,48,880 - - -


27,90,16,854 14,30,98,323

- - -

Total 1,27,93,54,106 55,62,47,203

Note - 15 b Trade Payables

- Due to Micro, Small and Medium Enterprises

- - -

- Due to others 13,57,39,713 13,36,89,848 17,28,27,217

13,57,39,713 13,36,89,848 17,28,27,217

Note - 15 cOther Financial liabilities

Term Loans from Banks [ Refer Note 13a E]Secured - Rupee Loans

Current maturities of long-term debt- From Banks 1,70,17,75,567

1,07,30,34,567

54,79,15,200

Interest to Bank (Provision) 1,82,60,92,671

97,74,14,159

28,12,64,657 3,52,78,68,238

2,05,04,48,726

82,91,79,857

Particulars of Loans Amount of continuing default as on March 31, 2018 ( in ` Rs. )

Particulars of Loans Faclity Recalled Amount as on March 31, 2018

Date of Recall





March 31, 2016

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The Company contributes to the following post-employment defined benefit plans in India.

A

B

a) Gratuity

b) Leave Obligations

Defined Benefit Plan:

Defined Contribution Plans:The Company has certain defined contribution plans. Contributions are made to provident fund in India for employees at the specified rate as per regulations. The contributions are made to registered provident fund administered by the Government of India. The obligation of the Company is limited to the amount contributed and it Company has no further contractual, nor any constructive obligation. The Company has recognised Rs. 1,14,48,227 [FY 2016-2017 Rs. 1,02,22,265] towards contribution to Provident Fund and Rs.31,50,475[FY 2016-2017 Rs. 9,70,472] towards Employee State Insurance in Profit and Loss account.

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination/resignation is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number completed years of service. The gratuity plan is a funded plan and Company makes annual contributions to the Group Gratuity cum Life Assurance Schemes administered by the SBI LIFE, a funded defined benefit plan for qualifying employees.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31, 2018. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

The leave obligations cover the Company's liability for earned leave. The amount of the provision is presented as current, since the Company does not have an unconditional right to defer settlement for any of these obligations. However, based on past experience, the Company does not expect all employees to take the full amount of accrued leave or require payment within the next 12 months.

Based on the actuarial valuation obtained in this respect, the following table sets out the status of the gratuity plan and the amounts recognised in the Company’s financial statements as at balance sheet date:

Note - 16 As atMarch 31, 2018

As atMarch 31, 2017

As atMarch 31, 2016

Other current liabilities(a) Customers' Advances 23,41,85,938 11,66,76,040 8,66,26,581 (b) Other liabilities 6,43,74,808 4,31,71,927 54,70,649 (c) Government Grant - Deferred

Income [ Refer Note 14(i) and 18(C)(iii) ]

1,50,000 1,50,000 1,50,000

29,87,10,746 15,99,97,967 9,22,47,230

Note - 17Provisions - -

i) Provision for Gratuity 5,03,67,134 4,95,69,200 3,80,16,860 ii) Provision for Leave Incashment 1,69,42,216 1,63,49,750 1,75,39,908 iii) Provision for Bonus 52,33,033 29,17,834 28,25,557 v) Excise Duty Provision - 67,092 1,22,566

7,25,42,383 6,89,03,876 5,85,04,891

March 31, 2018 March 31, 2017 Gratuity Gratuity

Defined benefit obligation 5,04,82,772 4,96,77,653

Fair value of plan assets 1,15,638 1,08,453

Net defined benefit (obligation)/assets

(5,03,67,134) (4,95,69,200)

Non-currentCurrent [ Refer Note 17 (i) ] (5,03,67,134) (4,95,69,200)



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B. Movement in net defined benefit (asset) liability


Opening balance 4,96,77,653 3,78,59,704 Included in profit or lossCurrent service cost 21,46,102 29,65,131

Past service cost 38,30,147 30,28,776 Interest cost (income) 55,50,578 -

6,12,04,480 4,38,53,611 Included in OCIRemeasurement loss (gain):

Actuarial loss (gain) due to :

Demographic assumptions

Financial assumptions (4,16,307) 6,75,049

Experience adjustment (62,98,861) 1,07,00,361

Return on plan assets excluding interest income 1,177 1,086

5,44,90,489 5,52,30,107 OtherContributions paid by the employer (40,07,717) (55,52,454)

Benefits paidClosing balance 5,04,82,772 4,96,77,653

Opening balance 1,08,453 1,01,425 Included in profit or loss

Interest income 8,362 8,114 1,16,815 1,09,539

Included in OCIRemeasurement gain (loss):

Actuarial gain (loss) due to :

Demographic assumptions

Financial assumptions

Experience adjustment

Return on plan assets excluding interest income (1,177) (1,086)

1,15,638 1,08,453 OtherContributions paid by the employer

Benefits paidClosing balance 1,15,638 1,08,453

Defined benefit obligation

Fair value of plan asset

The following table shows a reconciliation from the opening balances to the closing balances for net defined benefit (asset) liability and its components

Represented byNet defined benefit asset - - Net defined benefit liability 5,03,67,134 4,95,69,200

5,03,67,134 4,95,69,200


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C. Defined benefit obligationsi. Actuarial assumptions

Particulars March 31, 2018 March 31, 2017Discount rate 7.87% 7.71%Salary escalation rate 7.00% 7.00%

Rate of return on plan assets 7.87% 7.71%

Retirement Age 58 Year 58 Years & 60 Years

Attrition Rate

Mortality Rate

ii. Sensitivity analysis

Increase Decrease Increase Decrease Discount rate (1% movement) (24,05,919) 27,62,845 (22,19,723) 25,49,094

Future salary growth (1% movement) 27,89,512 (24,67,818) 25,70,466 (22,74,561)

Employee Turnover (1% movement) 4,21,701 (4,94,173) 3,98,887 (4,57,907)

Life Expectancy

iii) Expected Contibutions in next yearMarch 31, 2018 March 31, 2017

INR INRGratuity 72,10,994 38,30,147 Provident Fund 1,28,22,014 1,14,48,227

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.

1.00%

Indian Assured Lives Mortality (2006-08) Ultimate

March 31, 2018 March 31, 2017

Assumptions regarding future mortality have been based on published statistics and mortality tables. The current longevities underlying the values of the defined benefit obligation at the reporting date were as follows :

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below.

The following were the principal actuarial assumptions at the reporting date (expressed as weighted averages).

Expense recognised in Statement of Profit and LossCurrent service cost 21,46,102 29,65,131

Net Interest cost 38,30,147 30,28,776 Past Services Cost 55,50,578 Expense recognised in Statement of Profit and Loss 1,15,26,827 59,93,907

Expense recognised in Other Comprehensive Income (OCI)

Actuarial (gain)/loss on obligation for the period (67,15,168) 1,13,75,410

Return on plan assets excluding interest income 1,177 1,086

Net (Income)/ Expense for the period recognized in OCI [ Refer Note 28 A (I) (i)]

(67,13,991) 1,13,76,496




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Note - 18Revenue from operations

A Sales of products ( including excise duty) 13,36,34,575 34,65,03,390

B Sale of Services 19,59,29,693 17,66,74,134Processing charges received

C Other Operating revenue(i) Export Incentive -

2,18,394

(ii) Vat/CST/Entry tax- Refund /Remission -

29,68,136

(iii) Government Grant 1,50,000

1,50,000

32,97,14,268

52,65,14,054

Note - 19Other Income

A Interest Income (at amortised cost)- On Fixed Deposits 13,70,688

22,20,879

B Other Non-Operating Income - Fair value adjustments for Investments 4,74,787 9,49,572

- Other Receipts 1,15,96,290

2,21,53,222

1,34,41,765

2,53,23,673

Note - 20Cost of Materials Consumeda) Raw Material Opening Inventory 77,97,244

10,37,20,215

Add: Purchases (net) 4,27,71,951

5,31,13,395

Less: Inventory at the end of the year 66,48,886

77,97,244

a) Raw Material/Packing Material 4,39,20,309

14,90,36,366

4,39,20,309

14,90,36,366

Note - 21Purchases of Stock-in-Trade 1,31,15,769

8,03,44,393

Note - 22Changes in inventories of Finished goods, Work-in-progress and Stock in Trade

Finished goods Opening Stock 1,64,18,178

4,72,71,518

Closing Stock 58,35,820

1,64,18,178

1,05,82,358

3,08,53,340

Note - 23

Salary, Wages and Bonus 13,92,11,699

12,79,62,041

Contribution to Provident and Other Funds 1,45,98,702

1,11,92,737

Gratuity 1,15,26,827

59,93,907

Other Benefits 10,89,409

51,03,154

Staff Welfare expenses 5,42,853 8,92,205

16,69,69,490 15,11,44,044

(Amount in `)

Particulars For the year endedMarch 31, 2018

For the year endedMarch 31, 2017


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Note - 24Finance costs

Interest Expenses 86,31,45,211 73,62,63,647 Other borrowing costs 2,55,333 31,18,812

86,34,00,544 73,93,82,458 Note - 25Depreciation, amortisation and Impairment Expense

Depreciation on Plant, property and Equipment 18,56,64,940 19,10,09,371 18,56,64,940 19,10,09,371 Note - 26

Other ExpensesManufacturing ExpensesManufacturing expenses 1,54,79,968

1,93,05,976

Excise Duty 1,79,303

44,16,129

Consumption of Stores & Spares parts 19,19,950

21,66,733

Power & Fuel 8,47,43,995

8,44,56,785

Processing Charges 3,42,77,371

4,69,77,308

Repairs and Maintainence - Plant & Machinery 94,89,058

92,71,080

- Buildings 97,820

58,782

14,61,87,465

16,66,52,793

Selling and distribution expensesFreight & forwarding 1,58,51,496

1,85,82,293

Commission & rebate 20,84,454

12,22,315

Travelling & conveyance 3,32,48,369

5,24,69,191

13,47,122

17,32,541

3,34,619

16,66,978

5,28,66,060

7,56,73,318

Establishment and Other expensesRates & Taxes 76,922

1,10,84,741

Insurance (net of recoveries) 25,28,145

34,10,789

Payment to Auditors 2,00,000

2,29,000

Rent 21,87,798

38,48,492

Postage, Telegram & Telephone 34,82,606

64,37,853

Legal and Professional expenses 1,64,33,374

1,88,62,857

Directors' Remuneration 15,00,000

60,00,000

Fair value adjustments for Investments (net) 1,82,70,393

3,65,40,788

-

2,25,697

Bad debts written off -

13,99,31,132

Provision for Bad Debts (10,26,702)

(2,73,11,913)

Other expenses 1,08,24,311

1,91,27,064

5,44,76,847

21,83,86,500

25,35,30,372

46,07,12,610

Note:(I) Payment to Auditors:-

(a) As Auditors

-For Statuory Audit 236000 229000

[Inclusive of service tax Rs.36000 [FY 2016-17 Rs.29000](b) Travelling and other out of pocket expenses - -

(ii) Remuneration to Cost AuditorsFor Cost Audit [Inclusive of service tax Rs.7200 [FY 2016-17 Rs.10455 ] 47200 80150

Note - 27Exceptional Items

a) Impairment Loss on Investment in subsidiary - 10,00,000- 10,00,000

Net Loss on foreign currency transaction/translation

(i) Remuneration to the Statutory auditors

Advertisement & Business PromotionMiscelleneous selling and distribution expenses

Notes to financial statement for the year ended March 31, 2018(Amount in `)

Particulars For the year endedMarch 31, 2018

For the year endedMarch 31, 2017


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Note - 28

(A) Other Comprehensive Income

I Item that will not be reclassified to profit or loss [ Refer Note 12G]

(i) Remeasurement of the defined benefit plans 67,13,991 (1,13,76,496) (ii) Equity Instruments through Other Comprehensive Income (50,76,300) 45,65,300

16,37,691

(68,11,196)

Income tax relating to items that will not be reclassified to profit or loss

(18,67,832)

37,61,410

(2,30,142)

(30,49,786) II Item that will be reclassified to profit or loss -

Particulars IND AS Financials


Note - 29Contingent liabilities and commitmentsA Contingent liabilities As at

March 31, 2018As at

March 31, 2017a) Claims against the Company not acknowledged as debts ( to the extent not

provided) Certain show-causes notices adjudicated by the Central Excise Department. the challenged demand under the notices which is pending before H'ble CESTAT.

2,74,40,281 2,74,40,281

Show cause notices issued by Excise Department, which are quashed by H'ble High Court of Indore. Deparment has preferred an appeal in the H'ble Suprem Court which is pending.

18,49,13,338 18,49,13,338

Five Income Tax demands were raised by Assessing Officer, which are not admitted and rectification/appeals are pending before the approprate authorities.

97,24,99,093 97,24,99,093

One demand for sales tax were raised by Commercial Tax Officer, for which the Company has filed appeal before Deputy Commissioner (Appeal), Jaladhar.

68,57,081 3,86,974

One demand under DPCO Act for which the Company has filed writ petion in theHigh Court of M.P. and demand is stayed by the H'ble High Court.

19,30,880 19,30,880

One demand of Electric Department for which the Company has filed writ petion in the High Court of M.P. and demand is stayed by the H'ble High Court.

80,97,988 80,97,988

Three months demand of Electricity board(MPPKVV CL ) for which were not admitted as payable due to suurrender of the connection of Indore plant and for which Company has filed a case in High Court of M.P. and case is pending.

26,81,385 26,81,385

b) Guarantees (i) Outstanding bank Guarantees 22,29,400 26,58,118 (ii) Other contingent liabilties

Eight group companies have offered collateral securities (1) by mortgage of two companies immovable properties and (2) by pledge of sharesby six company in favour of the Company against credit facilities and corporate loan by Bank. Amount involved was uncertain. Corporate Guarantee given to one group company 12,79,00,000 12,79,00,000 Sacrifice of lenders under approved CDR scheme 2,81,24,047 2,81,24,047

B Commitments i) Estimated amount of contracts remaining to be executed on capital account and not provided for

- -

ii) Other commitments - -

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Note - 30Subsequent Events

Note - 31

(a) Loans & Advance in the nature of loans to Subsidiaries -

(b) Loans & Advance in the nature of loans to Associates -

4,90,42,072

-

i. Investment made/Guarantees/Securities given Corporate Guarantee given to one group company to the tune of Rs. 12,79,00,000

2017-18 2016-17

Parenteral Surgical Limited 4,90,42,072 4,90,15,167

4,90,42,072

4,90,15,167

Note - 33Segment Reporting

(c) Loans and advances in the nature of loans to Fims/Companies in which directors are interested

(d) Investment by the loanee in the shares of the company, when the Company has made a loan or advance in the nature of loan

There are no significant subsequent events that would require adjustments or disclosures in the financial statements as on the balance sheet date.

Particulars Loan and Advances Given Balance

The above loans and advances given are classified under respective heads. The loans and advances were taken for meeting out their working capital requirements.

The Company is principally engaged in the business of pharmaceutical. Accordingly there are no segments as per Ind AS 108- "Operating Segment.

Disclosures pursuant to regulation 34(3) and 53(f) of schedule V of the SEBI ( Listing obligations and disclosure requirments) Regulations, 2015

Note - 32 Details of Loans given, investment made and guarantee given under section 186(4) of the Companies Act, 2013

ii. Details of Loans and advances given to parties covered under section 186 of the Companies Act 2013



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Note - 34Related party relationships, transactions and balances

As per Ind AS-24, the disclosure of transactions with related parties are given below :

(A)

(i)

(a) Name of persons/entities RelationMANOHARLAL GUPTA Managing DirectorVINOD GUPTA Whole-time DirectorGOVIND DAS GARG Whole-time DirectorANIL MITTAL Whole-time Director

(b) Name of the close members RelationLalit Mittal Brother of Whole-time Director

(ii)(a)

Name of persons/entities RelationInfutec Healthcare Limited SubsidiaryParenteral Impex Limited SubsidiaryParenteral Biotech Limited Subsidiary

(ii)(b)

NIL

(iii) Both entities are joint ventures of the same third partyNIL

(iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entityNIL

(v)

NIL

(vi) The entity is controlled or jointly controlled by a person identified in (i)Name of persons/entities

NIL

(vii)

MAHAGANPATI INVESTMENT PRIVATE LIMITEDANITAS EXPORTS PRIVATE LIMITEDPARENTERAL SURGICAL LIMITED

(viii)Mr.BALKRISHNA VINAYAK CHAUBALMs.DEEPALI GARHEWALMr.DHARAM PAL KHANNAMr.DILIP KUMAR SINHAMr. SANDEEP VYASMr. DILIP KUMAR PANCHAITY (upto May 2017)

The entity is a post employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity.

List of related parties where control exists with whom transactions have taken place and relationships.

OthersIndependent DirectorIndependent DirectorIndependent Director

Person or a close members has control or joint control, significant influence on the reporting entity or is member of KMP in reporting entity

Entity and reporting entity are members of the same group ( which means that each parent, subsidiary and fellow subsidiary is related to the others)

One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member)

The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity.

Independent DirectorIndependent DirectorIndependent Director


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56,6

40

3,16

,439

(2,5

9,79

9)

(56,

640)

(3,1

6,43

9)

(B)(

ii)Pa

rtic

ular

s

Infu

tec

Hea

lthc

are

Lim

ited

Par

ente

ral I

mpe

x Li

mit

ed

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nter

al B

iote

ch

Lim

ited

Tota

l

REV

ENU

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le o

f goo

ds

3,97

,74,

490

-

-

3,97

,74,

490

(13,

16,6

3,56

4)

-

-

(13,

16,6

3,56

4)

Job

Wor

k In

com

e21

,57,

90,2

74

-

-

21,5

7,90

,274

(1

7,66

,74,

134)

-

-

(17,

66,7

4,13

4)

EXPE

NSE

S:

Purc

hase

of g

oods

4,

27,4

3,27

8

-

-

4,27

,43,

278

(6,7

1,60

,659

)

-

-

(6,7

1,60

,659

)

AM

OU

NT

PAYA

BLE

Adva

nce

from

Cus

tom

er21

,54,

46,9

07-

-21

,54,

46,9

07(1

0,16

,29,

470)

--

(10,

16,2

9,47

0)

Clos

e M

embe

r

Ent

ity

and

repo

rtin

g en

tity

are

mem

bers

of t

he s

ame

grou

p ( w

hich

mea

ns th

at e

ach

pare

nt, s

ubsi

diar

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d fe

llow

sub

sidi

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is re

late

d to

the

othe

rs)

Per

sons

PARE

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RAL

DRU

GS

(IND

IA) L

IMIT

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Det

ails

of R

elat

ed P

arty

Tra

nsac

tion

s w

ith

who

m tr

ansa

ctio

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ondu

cted

dur

ing

the

year

:

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018


87

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

(B)(

iii)

Part

icul

ars

Mah

agan

pati

In

vest

men

t Pri

vate

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mit

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Ani

tas

Expo

rts

Priv

ate

Lim

ited

P

aren

tera

l Su

rgic

al L

imit

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Tot

al

REV

ENU

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le o

f goo

ds-

-

-

-

-

(6,2

7,92

1)

-

(6,2

7,92

1)

EXPE

NSE

SPu

rcha

se o

f goo

ds

-

12,2

3,98

4

-

12,2

3,98

4

-

(24,

04,8

25)

-

(24,

04,8

25)

LOA

N G

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-

26,9

05

26,9

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-

-

(3,5

6,10

3)

(3,5

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LOA

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8,00

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AM

OU

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Loan

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Adv

ance

s-

-

4,

90,4

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2

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-

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(4,9

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)

(4,9

0,15

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Trad

e Re

ceiv

able

-

56

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-

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-

(5

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-

(5

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000)

Adva

nce

to S

uppl

iers

36,4

69

-

36

,469

-

-

-

A

MO

UN

T PA

YABL

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Loan

and

Adv

ance

s28

,60,

98,2

75

-

-

28,6

0,98

,275

(2

8,52

,98,

275)

-

-

(28,

52,9

8,27

5)

(B)(

viii)

Part

icul

ars

Mr.B

ALK

RISH

NA

V

INAY

AK

CHAU

BAL

Ms.

DEE

PALI

G

ARH

EWA

L M

r.DH

ARA

M P

AL

KHA

NN

A

Mr.D

ILIP

KU

MA

R SI

NH

A

Mr.

SAN

DEE

P V

YAS

Mr.

DIL

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AR

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ITY

Tot

al

EXPE

NSE

S:

Sitt

ing

Fees

12,0

0024

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36,0

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2,00

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00(1

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)(3

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Per

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The

ent

ity,

or

any

mem

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of a

gro

up o

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it

is a

par

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anag

emen

t pe

rson

nel

serv

ices

to

the

repo

rtin

g en

tity

or t

o th

e pa

rent

of t

he

repo

rtin

g en

tity

.

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Not

es to

fina

ncia

l sta

tem

ent f

or th

e ye

ar e

nded

Mar

ch 3

1, 2

018

88


NO

TES

TO F

INA

NCI

AL

STAT

EMEN

T

Note - 35Earnings per share (EPS)

i. Profit attributable to Equity holders (Amount in `)

March 31, 2018 March 31, 2017INR INR

Profit /(Loss) after tax attributable to equity holders (96,09,22,903) (1,14,08,70,730)Profit/(Loss) attributable to equity holders of the for basic earnings (96,09,22,903) (1,14,08,70,730)Expenses directly charged to ReservesProfit/(Loss) attributable to equity holders After Exceptional Items (96,09,22,903) (1,14,08,70,730)- Less : Exceptional Items - 10,00,000 Profit/(Loss) attributable to equity holders before Exceptional Items (96,09,22,903) (1,13,98,70,730)

ii. Weighted average number of ordinary sharesMarch 31, 2018 March 31, 2017

Opening ordinary shares [Refer Note a of SOCIE] 2,98,16,300 2,98,16,300 Weighted Average Effect of Shares issued under Employee Stock option during the year

Weighted average number of shares for Dilutive EPS 2,98,16,300 2,98,16,300

Basic and Diluted earnings per share before Exceptional Items March 31, 2018 March 31, 2017

INR INRBasic earnings per share ( In Rs. ) (32.23) (38.23)Basic earnings per share ( In Rs. ) (32.23) (38.23)

Basic and Diluted earnings per share After Exceptional Items March 31, 2018 March 31, 2017

INR INRBasic earnings per share ( In Rs. ) (32.23) (38.26)Basic earnings per share ( In Rs. ) (32.23) (38.26)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.


- -

- -



89

NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

Note - 36Offsetting financial assets and financial liabilities

A March 31, 2018 (Amount in Rs. `)

Gross Amounts Gross amounts set off in the balance sheet

Net amounts presented in the balance sheet

Amounts subject to master netting arrangements

Financial instrument collateral

Net amount

March 31, 2018Financial AssetsCurrent Financial assetsCurrent Financial assets 62,81,03,786

-

62,81,03,786

-

62,81,03,786

-

Total 62,81,03,786

-

62,81,03,786

-

62,81,03,786

-

Financial liabilities Borrowings 7,11,93,65,370

7,11,93,65,370

62,81,03,786

6,49,12,61,584

Other financial liability 1,60,16,54,195

1,60,16,54,195

-

1,60,16,54,195

Total 8,72,10,19,564

-

8,72,10,19,564

-

62,81,03,786

8,09,29,15,778

B March 31, 2017





Net amount

March 31, 2017Financial assetsCurrent Financial assets 63,28,26,470 - 63,28,26,470 - 63,28,26,470 - Total 63,28,26,470 - 63,28,26,470 - 63,28,26,470 - Financial liabilities Borrowings 6,27,06,86,858

6,27,06,86,858

63,28,26,470

5,63,78,60,388


1,44,43,11,853

-

1,44,43,11,853 Total 7,71,49,98,712

-

7,71,49,98,712

-

63,28,26,470

7,08,21,72,241

C April 1, 2016





Net amount

April 1, 2016Financial assetsCurrent Financial assets 77,40,92,491

-

77,40,92,491

-

77,40,92,491

-

Total 77,40,92,491

-

77,40,92,491

-

77,40,92,491

-

Financial liabilities Borrowings 5,54,63,41,574

5,54,63,41,574

77,40,92,491

4,77,22,49,083


1,37,54,43,680

1,37,54,43,680

Total 6,92,17,85,254

-

6,92,17,85,254

-

77,40,92,491

6,14,76,92,763

D Offsetting arrangements(i) Borrowings

(ii)

Particulars Effects of offsetting on the balance sheet Related amounts not offset

The Company has taken borrowings by providing current financial assets as security to the banks.

For the purpose of offsetting financial assets against financial liabilities as mention above,first preferance for setoff is to be given to borrowing and then to other financial liabilities.

The following table presents the recognised financial instruments that are offset, or subject to enforceable master netting arrangements and other similar agreements but not offset, as at March 31, 2018, March 31, 2017 and April 1, 2016.




- -- -

- -- -

- -- -


90


NO

TES

TO F

INA

NCI

AL

STAT

EMEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

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Not

es to

fina

ncia

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tem

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or th

e ye

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nded

Mar

ch 3

1, 2

018


91

Not

e - 3

7Fi

nanc

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nstr

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ts –

Fai

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and

risk

man

agem

ent

A. A

ccou

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ount

in `

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8(A

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No.

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ass

ets

Fina

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ets

(i) In

vest

men

ts 5

(a)

-

-

2

,57,

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00

2,

57,8

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)

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4

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33

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3

-

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-

-

-

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-

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6

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3,22

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3,

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Curr

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(ii) T

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3,52

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-

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8

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The

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for f

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a re

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able

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A

subs

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the

Com

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NO

TES TO

FIN

AN

CIA

L STATE

MEN

T

(ii) M

arch

31,

201

7N

ote

No.

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mor

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d Co

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vel 2

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Non

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ass

ets

Fina

ncia

l ass

ets

(i) In

vest

men

ts 5

(a)

51,7

6,30

0

51,7

6,30

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2

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13

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04,8

6,51

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51

,76,

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1,76

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(ii

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ns 5

(b)

-

2,4

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-

(iii)

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1

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-

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) Tra

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(iii)

Cash

and

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67

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8,78

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-

(v

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(d)

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4,96

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51

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5

1,76

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6

8,23

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00

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-

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Curr

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3,54

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(ii) T

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7,4

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Not

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Mar

ch 3

1, 2

018

92


NO

TES

TO F

INA

NCI

AL

STAT

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T

(iii)

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1, 2

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ount

in `

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(i) In

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(ii) T

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9(a

)

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69

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(iv

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2,1

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(v) L

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)

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3,70

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7,87

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(ii) T

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17

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and

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ent l

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Note - 38Financial instruments – Fair values and risk managementFinancial risk managementThe Company has exposure to the following risks arising from financial instruments:(i) Market risk (a) Currency risk; (b) Interest rate risk; (c) Equity Risk;(ii) Credit risk ; and(iii) Liquidity risk ;Risk management framework

Market risk

Currency risk

Exposure to currency risk

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company’s primary risk management focus is to minimize potential adverse effects of risks on its financial performance. The Company’s risk management assessment policies and processes are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment and management these policies and processes are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Board of Directors and the Audit Committee are responsible for overseeing these policies and processes.


Market risk is the risk of changes the market prices on account of foreign exchange rates and interest rates , which shall affect the Company's income or the value of its holdings of its financial instruments . The objective of market risk management is to manage and control market risk exposure within acceptable parameters, while optimising the returns.

The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit and loss account, where any transaction has more than one currency or where assets/liabilities are denominated in a currency other than the functional currency of the entity.Considering the countries and economic environment in which the Company operates, its operations are subject to risks arising from fluctuations in exchange rates in those countries. The risks primarily relate to fluctuations in U.S. dollar,against the respective functional currencies ( INR)..The Company, as per its risk management policy, uses foreign exchange and other derivative instruments primarily to hedge foreign exchange and interest rate exposure. The Company does not use derivative financial instruments for trading or speculative purposes.

The summary quantitative data about the Company's exposure to currency risk as reported by the management of the Company is as follows: (Amount in `)

March 31, 2018 March 31, 2017

April 1, 2016

Particulars USD Exposure in INR

USD Exposure in

INR

USD Exposure in INR

Receivable net exposureTrade receivables 53,88,021 Net statement of financial position exposure - - 53,88,021 Forward exchange contracts against exports - - - Receivable net exposure - - 53,88,021

Payable net exposureBorrowings - - - Trade payables and other financial liabilities - - -

- - -

Forward exchange contracts against imports and foreign currency payables

-

-

-

Currency option contracts - - -

Payable net exposure - - - Total net exposure on Receviables /(Payables) - - 53,88,021

Statement of financial position exposure

Sensitivity analysisA 1% strenghtening / weakening of the respective foreign currencies with respect to functional currency of Company would result in

increase or decrease in profit or loss as shown in table below.The following analysis has been worked out based on the exposures as of the

date of statements of financial position.


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Effect in Indian Rupees Strengthening Weakening Strengthening Weakening Strengthening Weakening

USD - - - - 53,880 (53,880)

Profit/(Loss) March 31, 2017 Reserves April 1, 2016Profit/(Loss) March 31, 2018

Notes forming part of financial statements

i(b) Interest rate risk

Interest rate sensitivity - fixed rate instruments

Interest rate sensitivity - variable rate instruments

(Amount in `)A. March 31, 2018

Particulars 100 bp increase 100 bp decrease 100 bp increase 100 bp decrease

On account of Variable Rate

Borrowings from Banks

(increase/decrease)

(7,11,93,654) 7,11,93,654 (7,11,93,654) 7,11,93,654

Sensitivity (7,11,93,654) 7,11,93,654 (7,11,93,654) 7,11,93,654

B. March 31, 2017

Particulars

On account of Variable Rate

Borrowings from Banks

(increase/decrease)

(6,27,06,869) 6,27,06,869 (6,27,06,869) 6,27,06,869

Sensitivity (6,27,06,869) 6,27,06,869 (6,27,06,869) 6,27,06,869

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to market risk for changes in interest rates relates to borrowings from financial institutions.For details of the Company’s short-term and long term loans and borrowings, Refer Note 13(a), 15 (a) and 15(c) of these financial statements.

Impact on Profit/(loss) before tax Direct impact on Equity

The Company's fixed rate borrowings Preference Shares issued to Mahaganpati Investment Private Limited,Pdpl Holding Private Limited & Anitas Exports Private Limited @ 0% and Invetsments into Preference Shares of Infutec Healthcae Limited@ 0% are carried at amortised cost. They are therefore not subject to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flow will fluctuate because of a change in market interest rates.

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased /(decreased) equity and statement of profit or loss by amounts shown below. This analysis assumes that all other variables, in particular, foreign currency exchange rates, remain constant. This calculation also assumes that the change occurs at the balance sheet date and has been calculated based on risk exposures outstanding as at that date. The period end balances are not necessarily representative of the average debt outstanding during the period.

i(d) Equity risk

Equity Price Risk is related to the change in market reference price of the investments in equity securities. The company has Invest the Equity in their Subsidary Companys for Rs.1,361,775,000/- [FY 2016-17 1,361,775,000/- as at April 1,2016 1,362,775,000] and fair value of some of the Company’s investments in Fair value through Other Comprehensive Income securities exposes the Company to equity price risks. In general, these securities are not held for trading purposes. These investments are subject to changes in the market price of securities. The fair value of equity securities as of March 31, 2018, was ̀ Nil due to sale of Securities[ FY 2016-2017 5,194,000 ] . A sensex standard deviation of 5% [ FY 2016-2017 6% ] would result in change in equity prices of securities held as of March 31, 2018 by ̀ Nil.[ FY 2016-2017 311,640 ]

B.



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(ii) Credit Risk

A. Trade and other receivables

(Amount in `)Particulars As at March 31,

2018As at March 31,

2017As at April 1, 2016

Neither past due nor impairedPast due but not impairedPast due 0–90 days 34,28,777 20,11,127 - Past due 91–180 days 2,03,962 - 40,94,998 Past due more then 180 days 69,11,75,338 69,67,00,058 84,74,78,819

69,48,08,077 69,87,11,185 85,15,73,817

(Amount in `)

March 31, 2018Balance as at April 1, 2017 12,51,45,404

Impairment loss recognised (10,26,702) Amounts written off

Balance as at March 31, 2018 12,41,18,702

March 31, 2017Balance as at April 1, 2016 37,49,06,842

Impairment loss recognised (2,73,11,913)

Amounts written off 22,24,49,525


April 1, 2016

Balance as at April 1, 2015 22,24,49,525

Impairment loss recognised 15,24,57,317

Amounts written off -


B. Cash and cash equivalents

C. Investments

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Company’s receivables from customer. The Company establishes an allowance for doubtful debts and impairment that represents its estimate on expected loss model .

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the customer, including the default risk of the industry has an influence on credit risk assessment. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to determine expected credit losses. Historical trends of impairment of trade receivables do not reflect any significant credit losses. Impaired amounts are based on lifetime expected losses based on the best estimate of the management. Further, management believes that the unimpaired amounts that are past due by more than 180 days are still collectible in full, based on historical payment behaviour and extensive analysis of customer credit risk. The impairment loss related to several customers that have defaulted on their payments to the Company and are not expected to be able to pay their outstanding balances, mainly due to economic circumstances.

The Company holds cash and cash equivalents with credit worthy banks and financial institustions of Rs.66,076 as at March 31, 2018 [FY 2016-2017 Rs.28,26,571 and April 1, 2016 is Rs.16,18646 ].The credit worthiness of such banks and financial institutions is evaluated by the management on an ongoing basis and is considered to be good.

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counter-parties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties apart from those already given in financials, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

Expected credit loss assessment for customers as at March 31, 2018 ,March 31, 2017 and April 1, 2016

The movement in the allowance for impairment in respect of trade and other receivables during the year was as follows.

Summary of the Company's exposure to credit risk by age of the outstanding from various customers is as follows:

-


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Financial instruments – Fair values and risk management(iii) Liquidity risk

Exposure to liquidity risk

Carrying amount

A As at March 31, 2018 Total 1 year or less 1-2 years 2-5 years More than 5 years

(i) Non-derivative financial liabilities Secured term loans and borrowings

7,11,93,65,370 7,11,93,65,370 4,80,72,22,370 1,48,23,78,000 82,97,65,000

Unsecured term loans and borrowings

32,58,84,417 32,58,84,417 3,56,95,086 29,01,89,331

Redemable preference shares 3,40,51,54,378 3,40,51,54,378 3,40,51,54,378

Trade payables 13,57,39,713 13,57,39,713 13,57,39,713

Carrying amount

B As at March 31, 2017 Total 1 year or less 1-2 years 2-5 years More than 5 years


6,27,06,86,858 6,27,06,86,858 3,32,98,02,858 1,33,35,47,000 1,60,73,37,000


33,10,63,621 33,10,63,621 4,16,74,290 28,93,89,331

Redemable preference shares 4,02,08,04,188 4,02,08,04,188 4,02,08,04,188 Trade payables 13,36,89,848

13,36,89,848 13,36,89,848

Carrying amount

C As at April 1, 2016 Total 1 year or less 1-2 years 2-5 years More than 5 years


5,54,63,41,574 5,54,63,41,574 2,10,79,16,574 1,12,62,82,000 2,31,21,43,000


33,75,98,588 33,75,98,588 4,82,09,257 28,93,89,331

Redemable preference shares 4,48,83,39,366 4,48,83,39,366 4,48,83,39,366 Trade payables 17,28,27,217 17,28,27,217 17,28,27,217

Contractual cash flows

(Amount in `)Contractual cash flows


Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risk to the Company’s reputation.

The Company has obtained fund and non-fund based working capital lines from State Bank of India & Punjab national Bank. The Company also constantly monitors various funding options available in the debt and capital markets with a view to maintaining financial flexibility but company bank account of state Bank of India & Punjab National Bank were become sub standard due to crisess of working capital fund and continues losses..

The table below analyses the Company's financial liabilities into relevant maturity groupings based on their contractual maturities for: * all non derivative financial liabilities* net and gross settled derivative financial instruments for which the contractual maturites are essential for the understanding of the timing of the cash flows.

-

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47 Note - 39Capital Management

(Amount in `)A. Particulars As at March 31, 2018 As at March 31, 2017 As at April 1, 2016

Total liabilities 8,21,23,76,722 7,35,06,07,021 6,59,62,55,916 Less : Cash and cash equivalent 66,076 28,26,571 16,18,646 Adjusted net debt 8,21,24,42,798 7,35,34,33,592 6,59,78,74,562 Total equity (1,07,77,57,802) (11,66,04,757) 1,02,73,15,758 Adjusted equity (1,07,77,57,802) (11,66,04,757) 1,02,73,15,758 Adjusted net debt to adjusted equity ratio -ve -ve 6.42

B. DividendsDue to Contineous Loss incurred company has not proposed any Dividend.

The Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Management monitors the return on capital as well as the level of dividends to ordinary shareholders.The Company monitors capital using a ratio of ‘adjusted net debt’ to ‘adjusted equity’. For this purpose, adjusted net debt is defined as total liabilities, comprising interest-bearing loans and borrowings and obligations under finance leases, less cash and cash equivalents. Equity comprises of Equity share capital and other equity.

The Company’s policy is to keep the ratio below 2.00. The Company’s adjusted net debt to equity ratio was as follows.


98


Notes forming part of financial statementsNote -40Transition to Ind AS:

A. EXEMPTIONS AND EXCEPTIONS

I. Ind AS Exemptions :(i). Business combination exemption: The Company has applied the exemption as provided in Ind AS-101 for non-application of Ind AS 103, “Business Combinations” to business combinations consummated prior to the date of transition (April 1, 2016).

(ii). Property, plant and equipment exemption: On Transition to Ind AS as on April 1, 2016 the Company has elected to measure its property plant & equipment at cost as per Ind AS.This is considered as to be deemed cost as at April 1, 2016.

(iii). Derecognition of financial assets and financial liabilities: The Company has opted to apply the exemption available under Ind AS 101 to apply the derecognition criteria of Ind AS 109 prospectively for the transactions occurring on or after the date of transition to Ind AS.

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from Indian GAAP to Ind AS :

For the purposes of reporting as set out in Note 1 and 2 , we have transitioned our basis of accounting from Indian generally accepted accounting principles (“IGAAP”) to Ind AS. The accounting policies set out in Note 1 and 2 have been applied in preparing the financial statements for the year ended March 31, 2018. The comparative information presented in these financial statements for the year ended March 31, 2017 and in the preparation of an opening Ind AS balance sheet at April 1, 2016 (the “transition date”).In preparing our opening Ind AS balance sheet, we have made certain adjustments to amounts reported in financial statements prepared in accordance with IGAAP. An explanation of how the transition from IGAAP to Ind AS has affected our financial position and performance is set out in the following tables. On transition, we did not revise estimates previously made under IGAAP except where required by Ind AS.

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II. Ind AS mandatory exceptions

(Amount in `)B.(i)(a) RECONCILIATION FOR MARCH 31, 2017

Notes Amount as per IGAAP Effects of transition to Ind AS

Amount as per Ind AS

ASSETSNon-current assets(a) Property, Plant and Equipment 3 6,34,13,22,753

-

6,34,13,22,753

(b) Intangible assets 4 -

-

-

(c) Financial Assets 5 (i) Investments 5(a) 1,38,58,85,000

(1,35,53,98,487)

3,04,86,513

(ii) Loans 5(b) 2,40,93,394

-

2,40,93,394

(iii) Others 5(c) 1,40,035

-

1,40,035

(d) Other non-current assets 6 4,65,45,089

-

4,65,45,089

(e) Deferred tax lAssets (Net) 7 13,02,51,646

35,62,10,540

48,64,62,186

Total non current assets 7,92,82,37,917

(99,91,87,947)

6,92,90,49,970

Current Assets(a) Inventories 8 2,42,15,422 -

2,42,15,422

(b) Financial Assets 9 -

(i) Trade receivables 9(a) 69,87,11,189 (12,51,45,404)

57,35,65,785

(ii) Cash and cash equivalents 9(b) 28,26,571 -

28,26,571

(iii) Bank balances other than (iii) above 9(c) 67,98,786 -

67,98,786

(iv) Loans 9(d) 4,96,35,328 -

4,96,35,328

(c) Other Current assets 10 1,23,02,092 -

1,23,02,092

Total current assets 79,44,89,388

(12,51,45,404)

66,93,43,984

TOTAL ASSETS 8,72,27,27,305

(1,12,43,33,351)

7,59,83,93,954

Estimates : An entity's estimates in accordance with Ind AS at the date of transition to Ind AS are consitent with estimates made for the same date in accordance with previous GAAP.




99

LIABILITIESNon current liabilities(a) Financial liabilities 13 - (i) Borrowings 13(a) 3,40,23,26,626 61,84,77,562 4,02,08,04,188(b) Other non-current liabilities 14 -

18,00,000

18,00,000

Total non current liabilities 3,40,23,26,626

62,02,77,562

4,02,26,04,188

Current liabilities(a) Financial liabilities 15 -

-

(i) Borrowings 15(a) 1,27,93,54,107

-

1,27,93,54,107

(ii) Trade payables 15(b) 13,36,89,848

-

13,36,89,848

(iii) Other financial liabilities 15(c) 2,05,04,48,726

-

2,05,04,48,726

(b) Other current liabilities 16 15,98,47,967

1,50,000

15,99,97,967

(c) Provisions 17 6,62,83,612

26,20,264

6,89,03,876

Total current liabilities 3,68,96,24,260 27,70,264 3,69,23,94,524

Total liabilities 8,72,27,27,305 (1,12,43,33,351) 7,59,83,93,954

EQUITY AND LIABILITIESEquity (a) Equity share capital 11 29,81,63,000 - 29,81,63,000(b) Other equity 12 1,33,26,13,419 (1,74,73,81,176) (41,47,67,757)Total equity 1,63,07,76,419 (1,74,73,81,176) (11,66,04,757)

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(Amount in `)

B.(i)(b) RECONCILIATION OF PROFIT AND LOSS FOR THE YEAR MARCH 31, 2017

Notes Amount as per IGAAP Effects of transition to Ind AS


INCOMEI. Revenue from Operations 18

52,63,64,054

1,50,000

52,65,14,054

II. Other income 19

2,43,74,101

9,49,572

2,53,23,673

III. Total Income (I+II) 55,07,38,155

10,99,572

55,18,37,727

IV. ExpensesCost of materials consumed 20

14,90,36,366

-

14,90,36,366

Purchase of Traded Goods 21

8,03,44,393

-

8,03,44,393

Changes in inventories of finished goods, work-in-progress and stock-in-trade

22

3,08,53,340

-

3,08,53,340

Employee Benefits Expenses 23

15,99,00,276

(87,56,232)

15,11,44,044

Finance costs 24

73,93,82,458

-

73,93,82,458

Depreciation and Amortization Expenses 25

19,10,09,371

-

19,10,09,371

Other Expenses 26

45,14,83,735

92,28,875

46,07,12,610

Total Expenses (IV) 1,80,20,09,939

4,72,643

1,80,24,82,582

V. Profit/(loss) before Exceptional Items and Tax (III-IV)

(1,25,12,71,784)

6,26,929

(1,25,06,44,855)

VI. Exceptional Items 27

10,00,000

-

10,00,000

VII. Profit/(loss) before Tax (V-VI) (1,25,22,71,784)

6,26,929

(1,25,16,44,855)

VIII. Tax expense:1. Current Tax2. Deferred Tax 14 (11,92,20,506) 84,39,381 (11,07,81,125) 3. Adjustment of tax for earlier years 7,000 - 7,000

IX. Profit/(Loss) after tax for the period (VII-VIII) (1,13,30,58,278)

(78,12,452)

(1,14,08,70,730)

X. (A) Other Comprehensive Income

28

-

(68,11,196) (68,11,196)


-

37,61,411

37,61,411

Tax relating to above items (ii) Items that will be reclassified to statement of profit or lossTax relating to above items XI. Total Comprehensive income for the period

(1,13,30,58,278)

(1,08,62,237) (1,14,39,20,515)


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(Amount in `)

B(ii). Reconciliation for April 1, 2016 Notes Amount as per IGAAP Effects of transition to Ind AS


ASSETSNon-current assets(a) Property, plant and equipment 3 6,53,23,19,071

-

6,53,23,19,071

(b) Intangible assets 4 -

-

-

(c) Financial Assets 5 (i) Investments 5(a) 1,38,68,85,000

(1,36,09,13,359)

2,59,71,641

(ii) Loans 5(b) 2,42,10,325

-

2,42,10,325

(iii) Others 5(c) 8,48,128

-

8,48,128


-

5,48,81,634


36,08,88,511

37,19,19,650

8,01,01,75,297

(1,00,00,24,848)

7,01,01,50,449

Current assets(a) Inventories 8 15,09,91,733 -

15,09,91,733


-

(ii) Trade receivables 9(a) 85,15,73,816 (15,24,57,317)

69,91,16,499

(iii) Cash and cash equivalents 9(b) 16,18,646 -

16,18,646

(iv) Bank balances ther than (iii) above 9(c) 2,13,23,642 -

2,13,23,642

(v) Loans 9(d) 5,20,33,704 -

5,20,33,704

(c) Other current assets 10 1,38,66,339 -

1,38,66,339

Total current assets 1,09,14,07,880

(15,24,57,317)

93,89,50,563

TOTAL ASSETS 9,10,15,83,177

(1,15,24,82,165)

7,94,91,01,012

EQUITY AND LIABILITIESEquity (a) Equity share capital 11 29,81,63,000

-

29,81,63,000

(b) Other Equity 12 2,46,56,71,697

(1,73,65,18,939)

72,91,52,758

Total equity 2,76,38,34,697

(1,73,65,18,939)

1,02,73,15,758

Non current liabilities(a) Financial Liabilities 13 -

-

(i) Borrowings 13(a) 3,90,64,02,592

58,19,36,774

4,48,83,39,366

(d) Other non-current liabilities 14 -

19,50,000

19,50,000


58,38,86,774

4,49,02,89,366

Current liabilities(a) Financial Liabilities 15 -

-

(i) Borrowings 15(a) 1,27,87,36,693

-

1,27,87,36,693


-

17,28,27,217

(iii) Other financial liabilities 15(c) 82,91,79,857

-

82,91,79,857


1,50,000

9,22,47,230

(c) Provisions 17 5,85,04,891

-

5,85,04,891

Total current liabilities 2,43,13,45,888

1,50,000

2,43,14,95,888

Total liabilities 9,10,15,83,177

(1,15,24,82,165)

7,94,91,01,012

C. NOTES ON FIRST TIME ADOPTION:1 Property, Plant & Equipment

2 (a). Investment in Other than subsidiary, associates and Joint Venture

(b). Investment in subsidiary, associates and Joint VentureThe same are measured at Cost after testing for impairment, if any.

On transition to Ind AS as on April 1, 2016 the Company has elected to measure its Property, Plant & equipment at cost as per Ind AS.

The Company has investment Other than in subsidiary, associates and Joint Venture. These investments have been fair valued on the date of transition with a corresponding unrealised gain/(loss) is recognised in Retained earnings via Other comprehensive income [OCI] as on transition date i.e April 1, 2016 and designated the same at Fair Value through Other Comprehensive Income[FVOCI]. Subsequent gains/(losses) have been charged to Other Comprehensive Income.



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3 Trade receivables

4 Deferred Tax

5 Corporate guarantees issued to group companies

6 Excise Duty

7 Employee benefitsBoth under Indian GAAP and Ind-AS, the Company recognised costs related to its post-employment defined benefit plan on an actuarial basis. Under Indian GAAP, the entire cost, including actuarial gains and losses, are charged to profit and loss. Under Ind-AS, remeasurements of defined benefits plans are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through OCI.

The Company measures recovery of debtors on Expected Credit Loss Model.The Company has allowed some customers an extended credit period, the same are recognised at its present value, the corresponding difference between the present value and carrying amount is recognised in retained earnings as on transition date i.e April 1, 2016. The unwinding of discount on account of above upto the date of transition is also recognised in retained earnings.

The Company has recognised deferred tax as per requirements of Ind AS -12 on "Income taxes" and recoginsed a deferred tax liability arising on account of the Ind AS adjustments as on April 1, 2016 to retained earnings.

The Company has provided guarantees to Banks on behalf of the group companies. These financial guarantees have been measured at fair value on the date of Initial recognition with corresponding amount being recognised as unearned guarantee commission. The same has been amortised over the term of the guarantee on a straight line basis.

Under Indian GAAP, the Company used to present Revenue net off excise duty. The incidence of excise duty is on manufacture and not on sales since manufacturer is the primary obligor for the payment of excise duty. Management collects excise duty from its customers in the capacity as principal and not as an agent. As a result, excise duty recovered from customers would form part of revenue, with an corresponding equal amount charged to the statement of Profit and loss.





DIN 00039145


DIN 00520067







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To,

The Members of


MUMBAI

REPORT ON THE CONSOLIDATED Ind AS FINANCIAL STATEMENTS 1. We have audited the accompanying consolidated Ind AS financial statements of Parenteral Drugs (India) Limited ("the

Company") and its subsidiaries (collectively referred to as “the Group”) which comprise the Consolidated Balance Sheet as at March 31, 2018, the Consolidated Profit and Loss Statement and the consolidated Cash Flow Statement and the Statement of Changes in Equity for the year then ended and a summary of significant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE CONSOLDIATED Ind AS FINANCIAL STATEMENTS2. The group Board of Directors are responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act")

with respect to the preparation of these consolidated Ind AS financial statements that give a true and fair view of the Consolidated financial position, Consolidated financial performance including other comprehensive income, and cash flows and Consolidated statement of changes in equity of the of the Group in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act, read with relevant rules issued there under.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

AUDITORS' RESPONSIBILITY3. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. 4. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to

be included in the audit report under the provisions of the Act and the Rules made there under.5. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those

Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated Ind AS financial statements are free from material misstatements.

6. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated Ind AS financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated Ind AS financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation & presentation of the consolidated Ind AS financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company's directors, as well as evaluating the overall presentation of the consolidated Ind AS financial statements.

7. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the consolidated financial statements.

OPINION8. In our opinion and to the best of our information and according to the explanations given to us, and based on the

consideration of the reports of other auditor, on the financial statements / consolidated Ind As financial statements of the subsidiaries noted below, the aforesaid consolidated Ind As financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the consolidated state of affairs of the Group as at March 31,2018, and its consolidated loss total comprehensive income, its cash flows and Changes in Equity for the year ended on that date.

Other Matter9. The Comparative financial information for the year ended 31st March 2017 and the transition date opening balance sheet as at

1st April, 2016 prepared in accordance with Ind As included in these Consolidate financial statements are based on the previous issued statutory financial statements for the year ended 31st march 2017 and 31st March, 2016 respectively prepares in accordance with accounting standard prescribed under section 133 of the Act. read with Rule 7 of the companies (Accounts) Rules 2014 (as amended) which were audited by predecessor auditor whose reports dated 30th May,2017 and 29th May 2016 respectively expressed unmodified opinion on those Consolidate financial statements and have been adjusted for the difference in the accounting principles adopted by the company on transition to Ind As. which have been audited by us. Our

INDEPENDENT AUDITOR’S REPORT



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opinion is not modified in respect of this matter.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS10. As required by the Companies (Auditor's Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms

of section 143(11) of the Act, we give in the Annexure a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent and as applicable.

11. As required by Section 143(3) of the Act, we report that;

a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

b) In our opinion, proper books of account as required by law have been kept by the Group so far as it appears from our examination of those books and proper returns adequate for the purposes of our audit have been received from the branches not visited by us.

c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss including Other Comprehensive income, the Consolidated Cash Flow Statement and the Consolidated Statement of changes in Equity dealt with by this Report are in agreement with the relevant books of account.

d) In our opinion, the aforesaid Consolidated Ind AS financial statements comply with the Accounting Standards prescribed under Section 133 of the Act read with relevant Rule issued there under.

e) On the basis of the written representations received from the directors as on March 31, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2018 from being appointed as a director in terms of Section 164(2) of the Act.

f ) With respect to the adequacy of the internal financial control over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure A”.

g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:i. The Group has disclosed the impact of pending litigations on its financial position in its financial statements as referred

to in Note 29 to the financial statements;ii. The Group did not have any material foreseeable losses on long term contracts including derivative contracts; andiii. The has been no delay in transferring any amount, required to be transferred to the Investor Education and Protection

Fund by the Holding Company,And the point regarding delay in transferring any amount to the Investor Education and Protection Fund is not applicable to subsidiaries.






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Annexure A to the Independent Auditor's Report

“Annexure A” to the Independent Auditor's Report of even date on the Consolidated Financial Statements of Parenteral Drugs (India) Limited report on the Internal Financial Controls under Clause (i) of Sub-Section 3 of Section 143 of the Companies Act, 2013 (“the Act”) 1. In Conjunction with our audit of the Consolidate financial statement of the group as of and for the year ended March 31, 2018, we have

audited the internal financial controls over financial reporting of Parenteral Drugs (India) Limited (“the Company”) and its subsidiaries (collectively referred to as “the Group”) which are incorporated in India, as of that date.

Management's Responsibility for Internal Financial Controls2. The group Board of Directors are responsible for establishing and maintaining internal financial controls based on the internal control over

financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditor's Responsibility3. Our responsibility is to express an opinion on the Groups internal financial controls over financial reporting based on our audit. We

conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing as specified under section 143 (10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accounts of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain responsible assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the internal financial controls systems over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting6. A Company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the

reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A Company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company' (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the company are being made only in accordance with authorities of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting 7. Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper

management override of controls, material misstatements due to error or fraud may occur and not be detected. Also projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

Opinion8. In our opinion, the Company has, in all material respects an adequate internal financial controls system over financial reporting and such

internal financial controls over financial reporting were operating effectively as at March 31, 2018, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.







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DIN 00039145


DIN 00520067






Consolidated Balance Sheet


(Amount in `)

I. ASSETS(1) Non-current assets

(a) Property, plant and equipment 3 7,15,80,42,138 7,38,65,55,830 7,63,11,38,736

(b) Intangible assets 4 - - -

(c) Financial Assets 5 (i) Investments 5(a) 10,000 51,86,300 6,21,000

(ii) Loans 5(b) 3,85,84,485 3,68,97,426 4,21,86,324

(ii) Others 5(c) 8,89,640 6,11,367 12,30,229

(d) Other non-current assets 6 7,70,69,324 7,33,02,776 8,46,81,803

(e) Deferred tax lAssets (Net) 7 63,91,48,013 41,78,15,030 31,83,27,067

Total Non-current assets 7,91,37,43,600 7,92,03,68,729 8,07,81,85,158 (2) Current assets

(a) Inventories 8 27,01,42,916 45,05,27,175 56,27,35,674 (b) Financial Assets 9 (i) Trade receivables 9(a) 60,36,47,836 62,33,34,590 76,77,33,061 (ii) Cash and cash equivalents 9(b) 7,64,247 36,08,916 84,29,741 (iii) Bank balances ther than (ii) above 9(c) 3,47,21,905 2,86,55,578 3,72,56,548 (iv) Loans 9(d) 5,65,38,474 5,54,21,005 5,77,61,381 (c) Other Current Assets 10 2,46,64,870 5,54,94,432 2,30,38,145 Total Current assets 99,04,80,248 1,21,70,41,696 1,45,69,54,550

Total Assets 8,90,42,23,848 9,13,74,10,425 9,53,51,39,708 II. EQUITY AND LIABILITIES

Equity (a) Equity share capital 11 29,81,63,000 29,81,63,000 29,81,63,000 (b) Other Equity 12 (1,66,25,36,880) (47,26,07,584) 70,77,38,142 Total Equity (1,36,43,73,880) (17,44,44,584) 1,00,59,01,142 Minority Interest 28,37,054 28,37,054 28,37,053 LIABILITIES

(1) Non-Current Liabilities(a) Financial Liabilities 13 (i) Borrowings 13(a) 4,33,84,78,712 5,03,16,82,175 5,52,65,10,137 (b) Other non-current liabilities 14 16,50,000 18,00,000 19,50,000 Total Non-Current Liabilities 4,34,01,28,712 5,03,34,82,175 5,52,84,60,137

(2) Current liabilities(a) Financial Liabilities 15 (i) Borrowings 15(a) 1,53,36,09,548 1,53,11,67,415 1,52,21,16,539 (ii) Trade payables 15(b) 51,19,54,854 42,57,60,120 38,91,44,185 (iii) Other financial liabilities 15(c) 3,62,55,67,466 2,13,36,37,853 92,21,93,042 (b) Other current liabilities 16 17,03,61,040 10,24,76,636 8,07,57,719 (c) Provisions 17 8,41,39,055 8,24,93,758 8,37,29,891 Total Current liabilities 5,92,56,31,963 4,27,55,35,780 2,99,79,41,376

Total Equity and Liabilities 8,90,42,23,848 9,13,74,10,425 9,53,51,39,708

Notes As atMarch 31, 2018

As atMarch 31, 2017

As atApril 1, 2016

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Consolidated Statement Of Profit And Loss






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(Amount in `)

INCOMEI Revenue from Operations 18 2,17,11,05,863 2,39,15,26,616 II Other Income 19 1,59,26,673 2,79,30,625 III 2,18,70,32,536 2,41,94,57,241 IV EXPENSES

Cost of materials consumed 20 71,25,99,753 80,40,21,674 Purchases of Stock-in-Trade 21 66,55,53,233 72,97,25,682 Changes in inventories of finished goods, work-in-progress and stock in trade

22 18,60,45,976 58,82,304

Employee Benefits Expense 23 21,93,49,496 20,81,74,883 Finance Costs 24 97,54,27,067 85,77,41,766 Depreciation, amortisation and impairment Expenses 25 24,24,32,557 24,88,50,547 Other Expenses 26 59,81,24,245 83,79,34,915

3,59,95,32,327 3,69,23,31,771 V (1,41,24,99,791) (1,27,28,74,530) VI Exceptional Items 27 - 10,00,000 VII (1,41,24,99,791) (1,27,38,74,530) VIII Tax expense

Current Tax - - Deferred Tax 7 (22,30,77,160) (9,57,26,553) Tax for earlier years - 1,51,400

IX Profit/(loss) after tax for the year (VII-VIII) (1,18,94,22,631) (1,17,82,99,377) X (A) Other Comprehensive Income 28


1237513 (6811196)

Tax relating to above items (1744177) 3761411(ii) Items that will be reclassified to statement of profit or loss

Tax relating to above items - - XI (1,18,99,29,296) (1,18,13,49,162)

XII Earnings per equity share of face value of Rs.10 each 35



Basic and Diluted earnings per share before Exceptional

Basic and Diluted earnings per share after Exceptional Items


Total Income ( I+II )

Profit/(loss) before exceptional items and tax (III-IV)

Profit/(loss) before tax (V-VI)

Total comprehensive income for the year

Total Expenses

Notes For the year ended March 31, 2018


107

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Consolidated Statement of Cash flows






DIN 00039145


DIN 00520067






The above Cash Flow Statement has been prepared under the 'Indirect Method' as set out in the Accounting Standard (IND AS) 7 - "Cash Flow Statements".

(Amount in `)Particulars For the year ended

March 31, 2018 For the year ended

March 31, 2017 Cash flow from operating activitiesProfit/(Loss) before tax (1,41,24,99,791)

(1,27,38,74,530)

Adjustments to reconcile profit before tax to net cash used in operating activitiesDepreciation and impairment of property, plant and equipment 24,24,32,557

24,88,50,547

Remeasure of the defined benefit plans 63,13,813 (1,13,76,496)Equity Instruments directly taken to OCI (50,76,300) 45,65,300 Finance income (25,58,662) (34,80,981)Finance costs 97,54,27,067 85,77,41,766 Provision for Gratuity and compensated absences 16,45,298 (12,36,134)Operating profit before working capital changes (19,43,16,019)

(17,88,10,527)

Working capital adjustments(Increase)/ Decrease in inventories 18,03,84,259 11,22,08,499 (Increase)/ Decrease in trade and other receivables 1,96,86,754 14,43,98,471 (Increase)/ Decrease in other assets 2,67,84,741 (2,04,58,398)(Increase)/ Decrease in Other Balance with Banks (60,66,327) 86,00,970 Decrease/(Increase) in Long-term loans & advances (28,04,528) 76,29,274 Increase/ (Decrease) in trade and other payables 8,61,94,735 3,66,15,935 Increase/ (Decrease) in other liabilities 1,55,96,64,018 1,23,30,13,727 Cash generated from operations 1,66,95,27,632 1,34,31,97,950 Adjustment due to closer of Undertaking - 10,03,436 Income Tax paid - (1,51,400)Net cash flows from operating activities 1,66,95,27,632 1,34,40,49,986 Cash flow from investing activitiesPayment for purchase and construction of property, plant and equipment (1,39,18,865) (42,67,641) Purchase of Investments 51,76,300 (45,65,300) Interest received 25,58,662 34,80,981 Net cash flows from investing activities (61,83,903) (53,51,960) Cash flow from financing activitiesProceeds from issue of share capitalIncrease/(decrease) in Short Term Borrowings 24,42,133 90,50,876 Increase/(decrease) in Long Term Borrowings (69,32,03,463) (49,48,27,962)Finance charges paid (97,54,27,067) (85,77,41,766)Net cash flows from financing activities (1,66,61,88,398)

(1,34,35,18,852)

Net increase / (decrease) in cash and cash equivalents (28,44,669)

(48,20,825) Cash and cash equivalents at the beginning of the year 36,08,916 84,29,741

Effect of exchanges rate changes on cash and cash equivalentsCash and cash equivalents at the end of the year 7,64,247

36,08,916

Reconciliation of Cash and Cash equivalents with the Balance SheetCash and Bank Balances as per Balance Sheet [Note 9b] Cash on hand 75,867 2,88,812 Bank balances 6,88,380 33,20,104 Cash and Cash equivalents as restated as at the year end 7,64,247 36,08,916

- -


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Note 1-2

BACKGROUNDParenteral Drugs (india) limited (‘the Company’) is a Public Limited Company.The Company and its subsidiaries collectively referred as "the Group" engaged primarily in the business of Manufacturing of Pharmaceutical Product. The consolidated financial statements as at march 31, 2018 presents the financial positio of the group. The Company is also engaged in trading in various products . The Company has manufacturing plants across India and is listed on the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).

1 BASIS OF PREPARATIONa Statement of Compliance

The separate financial statements have been prepared in accordance with and comply in all material aspects with Indian Accounting Standards (“Ind AS”), including the rules notified under the relevant provisions of the Companies Act, 2013 ('Act'). These are the Company's first Consolidated financial statements (hereinafter 'financial statements') prepared in accordance with Indian Accounting Standards (Ind AS) by applying Ind AS 101 – First-time Adoption of Indian Accounting Standards . Refer Note 40 for an explanation of how these financial statement have revised/changed from Indian GAAP .

These financial statements are the company's first Ind AS consolidated financial statements.The significant accounting policies set out in Note 2 have been applied in preparing the financial statements of the Company.The Board of Directors have approved the issuance of these financial statements on 29.06.2018.

b Functional and presentation currencyThese Consolidated financial statements are presented in Indian rupees , which is the Company’s functional currency.

c Basis of MeasurementThese Consolidated financial statements have been prepared on the historical cost basis except the following item.(i) Certain financial assets and liabilities that are measured at Fair Value.(ii) Net defined benefit plans- Plan assets measured at Fair Value less present value of defined benefit obligation.

Determining the Fair ValueWhile measuring the Fair Value of an asset or a liability,the Company uses observable market data as far as possible. Fair values are categorised into different levels in a Fair Value hierarchy based on the inputs used in the valuation techniques as follows.Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities.Level 2 : inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).Level 3 : inputs for the asset or liability that are not based on observable market data (unobservable inputs).If the inputs used to measure the Fair Value of an asset or a liability fall into different levels of the Fair Value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the Fair Value hierarchy as the lowest level input that is significant to the entire measurement.

d Use of Estimates and Judgement

The preparation of consolidated financial statements in accordance with Ind AS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods if affected.The most significant estimates and assumptions are described below:

(i) JudgementsInformation about judgements made in applying accounting policies that have the most significant effect on amounts recognised in the financial statement are as below: - Leases identification- Whether an agreement contains a lease - Classification of lease - Whether Operating or Finance

(ii) Assumptions and EstimationsInformation about assumption and estimation uncertainities that have sigificant risk of resulting in a material adjustment in the year ended March 31, 2018 are as below:

1 Impairment test of non financial assetsFor the purpose of assessing recoverability of non-financial assets, assets are grouped at the lower levels for which there are individually identifiable cash flows (Cash Generating Units).

Notes to Consolidated Financial Statement for the year ended March 31, 2018


2 Allowance for bad debtsThe Management makes estimates related to the recoverability of receivables, whose book values are adjusted through an allowance for Expected losses. Management specifically analyzes accounts receivable, customers’ creditworthiness, current economic trends and changes in customer’s collection terms when assessing the adequate allowance for Expected losses, which are estimated over the lifetime of the debts.

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3 Recognistion and measurement of Provisions and ContingenciesThe Group Management estimates Key assumptions about the likelihood and magnitude of an outflow of resources based on available information and the assumptions and methods deemed appropriate. Wherever required, these estimates are prepared with the assistance of legal counsel. As and when additional information becomes available to the Company, estimates are revised and adjusted periodically.

4 Measurements of Defined benefit obligationsBased on key acturial assumptions

5 Measurements of certain Items at Fair ValueThe Group accounting policies and disclosures require the measurement of Investments (other than subsidiary, associates and joint ventures) at fair value.The Group has an established control framework with respect to the measurement of fair values. The Management regularly reviews significant observable inputs and valuation adjustments. If third party information such as broker quotes or pricing services is used to measure fair values, then the management assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which such valuations should be classified.When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows.Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.The Group recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESa PROPERTY, PLANT AND EQUIPMENT:(i) Recognition and measurement

Property, Plant and equipment are measured at cost as per Ind AS (which includes capitalised borrowing costs) less accumulated depreciation and accumulated impairment losses, if any.The cost of an item of property, plant and equipment comprises:a) its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates.b) any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management.c) the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located.If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment and depreciated accordingly.Any gain or loss on disposal of an item of property, plant and equipment is recognised in Statement of profit or loss.

(ii) Transition to Ind ASOn Transition to Ind AS as on April 1, 2016 the Company has elected to measure its Property, Plant & Equipments at Cost as per Ind AS and carrying value adjusted for additional impacts as per Ind AS, if any. The same are considered as Deemed cost of such Plant, property and Equipment.

(iii) Subsequent expenditureSubsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.

(iv) Depreciation,Estimated useful Life and Estimated Residual valueDepreciation is calculated using the Straight Line Method, pro rata to the period of use, taking into account useful lives and residual value of the assets, Depreciation is computed with reference to cost.The useful life of assets & the estimated residual value, which are different from those prescribed under Schedule II to the Companies Act, 2013, are based on technical advice.


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b INTANGIBLE ASSETS(i) Recognition and measurement

Computer softwares have finite useful lives and are measured at cost less accumulated amortisation and any accumulated impairment losses.As on transition date i.e. April 1, 2016 the same are measured at cost as per Ind AS.

c FINANCIAL INSTRUMENTSA financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments also include derivative contracts such as foreign currency foreign exchange forward contracts, interest rate swaps and currency options; and embedded derivatives in the host contract.

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(i) Financial assetsClassificationThe Group classifies its financial assets in the following measurement categories:- those to be measured subsequently at fair value ( either through Other Comprehensive Income-[FVTOCI], or through profit and loss-[FVTPL]; and - those measured at amortised cost.[AC]The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows.

In case of investmentsIn Equity instruments - For Other than subsidiaries , associates and Joint venture - The same are measured at Fair value through Other Comprehensive Income [FVTOCI].

Initial recognition and measurementAt intial recognistion, the Group measures a financial asset at its fair value and in the case of financial assets not recorded at fair value through profit or loss by adding transaction costs that are directly attributable to the acquisition of the financial asset. Impairment of financial assetsIn accordance with Ind-AS 109, the Group applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss on the following financial assets and credit risk exposure: a) Financial assets that are debt instruments and are measured at amortised cost e.g., loans, debt securities, deposits, and bank balance. b) Trade receivables. The Group follows ‘simplified approach’ for recognition of impairment loss allowance on:- Trade receivables which do not contain a significant financing component.The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition. - For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.

(ii) Financial liabilities ClassificationThe Group classifies its financial liabilities in the following measurement categories:- those to be measured subsequently at fair value through profit and loss-[FVTPL]; and - those measured at amortised cost [AC].The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows.

Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss or at amortised cost.All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee contracts and derivative financial instruments.

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Financial liabilities at fair value through profit or loss [FVTPL]Financial liabilities at fair value through profit or loss [FVTPL] include financial liabilities and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by Ind-AS 109. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in the profit or loss. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, only if the criteria in Ind-AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/loss are not subsequently transferred to P&L. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the statement of profit or loss.

Loans and borrowings After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective Interest Rate (EIR) method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. N

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Loans and borrowings After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective Interest Rate (EIR) method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss. This category generally applies to interest-bearing loans and borrowings.

Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Offsetting of financial instrumentsFinancial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counter party.

d INVENTORIESInventories are measured at the lower of cost and net realisable value after providing for absolence, if any . The cost of inventories is determined using the weighted average method and includes expenditure incurred in acquiring inventories, production or conversion and other costs incurred in bringing them to their respective present location and condition. In the case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal operating capacity.The comparision of cost and Net Realisable value is made on an item by item basis.Net realisable value is estimated selling price in the ordinary course of business, less estimated cost of completion and the estimated costs neccasary to make the sale. The net realisable value of work in progress is determined with reference to selling prices of finished products.

e TRADE RECEIVABLESTrade receivable are recognised intially at fair value and subsequently measured at amortised cost [AC] using the effective interest method less provision for impairment. As per Ind AS 109 the Company has applied Expected Credit Loss model for recognising the allowence for doubtful debts.

f CASH AND CASH EQUIVALENTFor the purpose of presentation in the statement of the cash flows, cash and cash equivalent includes the cash on hand and Bank balance in current accounts.

g CONTRIBUTED EQUITYEquity shares are classified as equity.Incidential costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

(aa) DividendsProvision may be made for the amount of any dividend declared,if any.In the year in which it is approved by shareholders.

(ab) Earnings per share(i) Basic earnings per share

Basic earnings per shares is calculated by dividing Profit/(Loss) attributable to equity holders (adjusted for amount directly charged to Reserves) before/after Exceptional Items by Weighted average number of shares, (excluding treasury shares).


113

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss. This category generally applies to interest-bearing loans and borrowings.

(ii) Diluted earnings per shareDiluted earnings per shares is calculated by dividing Profit/(Loss) attributable to equity holders (adjusted for amount directly charged to Reserves) before/after Exceptional Items divided by Weighted average number of shares (excluding treasury shares) considered for basic earning per shares including dilutive potential equity shares.

(ac) Rounding of amountsAll amounts disclosed in the financial statements and notes have been rounded off to the nearest Rs as per the requirement of Schedule III of Companies Act, 2013 , unless otherwise stated.

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h BORROWINGSBorrrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds ( net of transaction costs) and the redemption amount is recognised in profit or loss over the period of borrowings using the effective interest method. Processing/Upfront fee is capitalised as prepaid asset netted of from brrowings. The same is amortised over the period of the facility to which it relates.Borrowings are derecognised from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of the fianancial liablity that has been extinguished or transferred to another party and the consideration paid including any non cash assets transferred or liability assumed, is recognsied in profit or loss as other gains or (losses).Borrowings are classified as current liabilites unless the Company has and unconditional right to defer the settlement of laiblities for aleast twelve months after the reporting period.

i TRADE AND OTHER PAYABLESThese amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid at the period end. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

j REVENUE(i) Sale of goods

Revenue is recognised when the significant risk and rewards of the ownership have been transferred to the buyer, recovery of consideration is probable, the associated cost and possible return of goods can be measured reliably, there is no continuing effective control/managerial involvement in respect of the goods, and the amount of revenue can be measured reliably.Revenue from sale of goods in the course of ordinary activities is measured at the fair value of the consideration received or receivables net of returns, trade discount, volume rebates and taxes and duties on behalf of government. This inter alia involves discounting of the consideration due to the present value if the payment extends beyond normal credit terms.The timing of the transfer of control varies depending on the individual terms of the sale.

(ii) Sale of ServicesRevenue from services is recognised when agreed contractual task has been completed.

(iii) Other Incomea) Interest and other income are recognised on accrual basis on time propotion basis and measured on effective interest rate.

k GOVERNMENT GRANTSGrants from the Government are recognised at their fair value where there is an reasonable assurance that the grant will be received and the Company will comply with all the attached conditions.

(i) Government grant relating to income are deferred and recognised in the Statement of Profit and Loss over the period necessary to match them with the cost that they are intended to compensate and presented within "Other operating income".

(ii) Government grant relating to purchase of Property, Plant and Equipment are included in ''Other current/ non-current liabilities'' as Government Grant - Deferred Income and are credited to Profit or loss on a straight line basis over the expected life of the related asset and presented within ''Other operating Revenue''.

l EMPLOYEE BENEFITS(i) During Employment benefits(a) Short term employee benefits

Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Groupy has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

(ii) Post Employment benefits(a) Defined contribution plans

A defined contibution plan is a post employment benefit plan under which an entity pays fixed contribution into a separate entity and will have no legal or constructive obligation to pay futhur amounts. The Group makes specified monthly contributions towards government administered Providend Fund scheme.Obligations for contributions to defined contribution plans are expensed as the related service is provided. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in future payments is available.

114


(b) Defined benefit plansThe Group pays gratuity to the employees whoever has completed five years of service with the Group at the time of resignation. The gratuity is paid @ 15 days salary for every completed year of service as per the payment of Gratuity Act 1972. The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit Method and spread over the periods during which the benefits is expected to be derived from employees' services.Re-measurment of defined benefit plans in respect of post employment are charged to Other Comprehensive Income.

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(c) Termination benefitsTermination benefits are payable when employment is terminated by the Group before the normal retirement date or when an employee accepts voluntary redundancy in exchange for these benefits.

m INCOME TAXIncome tax expense comprises current and deferred tax. Tax is recognised in statement of profit and loss, except to the extent that it relates to items recognised in the other comprehensive income or in equity. In which case, the tax is also recognised in the other comprehensive income or in equity.

(i) Current taxCurrent tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates and laws that are enacted or subsequently enacted at the Balance sheet date.Current tax assets and liabilities are offset only if, the Company:a) has a legally enforceable right to set off the recognised amounts; andb) intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

(ii) Deferred tax Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have enacted or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting period. Deferred tax are recognised to the extent that it is probable that future taxable profit will be available against which they can be used.The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Group expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.Deferred tax assets and liabilities are offset only if:a) the entity has a legally enforceable right to set off current tax assets against current tax liabilities; andb) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on the same taxable entity.

n BORROWING COSTSGeneral and specific Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset that necessarily takes a substantial period of time to get ready for its intended use are capitalised as part of the cost of that asset till the date it is ready for its intended use or sale. Other borrowing costs are recognised as an expense in the period in which they are incurred.Investment income earned on the temporary invetsment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing cost eligible for capitalisation.All other borrowing costs are charged to the statement of profit and loss for the period for which they are incurred.

p LEASES(i) Determining whether an arrangement contains a lease

At inception of an arrangement, the Company determines whether the arrangement is or contains a lease.As a lesseeLeases of property where the Company, as lessee, has substantially all the risks and rewards of the ownership are classified as finance leases. Finance lease for parcel of Land are capitalised at the lease's inception at the cost of the lease hold Land property due to 99 year of lease period and the future lease rentals will be charged to the profit & loss over the Lease period.

q Provisions and contingent liabilitiesProvisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required tosettle the obiligation and the amount can be reliably estimated.Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognised as interest expenses.Contingent liabilities are disclosed in respect of possbile obiligations that arise from past events but their existence will be confirmed by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made.


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March 31, 2016

Note - 5aFINANCIAL ASSETS Non -Current Financial Investments A Investment in Equity Instruments - Other than

in subsidiary, associate and Joint Venture companies (Designated at Fair value through Other Comprehensive Income (FVOCI) [ Refer Note 28 (A) I (ii) ]

a) Quoted Medicaman Biotech Limited - 1,00,000 1,00,000 Add/(Less): Fair value adjustments for Investments

- 50,76,300 5,11,000

Total - 51,76,300 6,11,000 b) Investment in Government or Trust Securities

measured at Amortised costNational Saving Certificate 10,000 10,000 10,000

Total 10,000 10,000 10,000

G R A N D T O T A L: 10,000 51,86,300 6,21,000 Aggregate amount of quoted investments - Cost - 1,00,000 1,00,000

Fair Market Value of quoted investments - 51,76,300 6,11,000 Aggregate amount of unquoted investments - Cost

10,000 10,000 10,000

Aggregate provision for dimunition in value of quoted investments

- 50,76,300 5,11,000

B

Note - 5bLoans Unsecured, considered good (Unless otherwise stated)

Security and Other Deposits 3,85,84,485 3,68,97,426 4,21,86,324

3,85,84,485 3,68,97,426 4,21,86,324 Note - 5cOther Financial assets

Interest Accrued but not due On Fixed Deposits With Bank 8,89,640 6,11,367 12,30,229

8,89,640 6,11,367 12,30,229 Note - 6Other non-current assets

- Advance Income-Tax including tax deducted at source

4,23,50,003

3,09,91,577

2,23,92,530

- Other 3,47,19,321 4,23,11,199 6,22,89,273 7,70,69,324 7,33,02,776 8,46,81,803

Other than Subsidiaries, associates and Joint ventures are measured at Fair Value of the Investment and is charged/added to "Other Comprehensive Income". Fair Valuation of unlisted securities is determined based on the valuation reports and in case of listed securities the same is determined based on the prevaling market prices.

Unsecured, considered good (unless otherwise stated)


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Note - 7Deferred Tax Assets (Net)

Tax expenses(a) Amounts recognised in Statement of profit and loss


INR Current income tax (Changes in estimates related to prior period )

-

- - Deferred income tax liability /(asset), netOrigination and reversal of temporary differences -22,30,77,160 Others - Deferred tax expense -22,30,77,160 (A). Tax expense for the year charged to the statement of profit and loss

-22,30,77,160

(b) Amounts recognised in Other Comprehensive Income

Before tax Tax (expense) benefit Net of tax INR INR INR

Items that will not be reclassified to profit or lossRemeasurements of the defined benefit plans 63,13,813 (17,44,177 ) 45,69,635

Equity Instruments through Other Comprehensive Income

(50,76,300) (50,76,300)

Items that will be reclassified to profit or loss - (B) Total 12,37,513 (17,44,177) (5,06,665)(C) Total Tax expenses for the year (A+B) 22,13,32,983 (D) Reconciliation of effective tax rate


INR The income tax expenses for the year can be reconciled to the accounting profit as follows:Profit before tax -1,41,24,99,791 Applicable Tax Rate 30.90%Computed Tax Expense -43,64,62,435 Tax effect of :Expenses disallowed 34,28,60,689 Additional allowances -11,61,44,290 Current Tax -20,97,46,037 Current Tax Provision (A) 0Incremental Deferred Tax Liability on account of Tangible and Intangible Assets -3,88,26,128 Incremental Deferred Tax Asset on account of Financial Assets and Other Items 26,01,59,111 Deferred tax Provision (B) 22,13,32,983 Tax Expenses recognised in Statement of Profit and Loss (A+B) 22,13,32,983 Effective Tax Rate -15.67%

Tax for earlier years


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Note - 8Inventories(As valued and certified by the Management)

a) Raw Materials (including packing material) 17,57,63,153 17,01,01,436 27,64,27,631 b) Finished goods 9,43,79,763 28,04,25,739 28,63,08,043

27,01,42,916 45,05,27,175 56,27,35,674

Note - 9aTrade Receivables

Trade Receivables Secured, considered good [Outstanding for more than six months]

13,51,13,319 15,99,21,286 52,53,14,023

Unsecured, considered good 3,37,90,110 2,32,81,533 5,43,07,957 Receivables from related parties 56,70,00,000 56,70,00,000 56,70,00,000

69,48,08,076 69,87,11,189 1,07,40,23,341 Less: Provision for Bad Debts - - 22,24,49,525 Less: Allowence for doubtful debts [Refer Note 38(ii)]

13,22,55,593 12,68,68,229 15,64,39,394

Total Receivables 60,36,47,836 62,33,34,590 76,77,33,061

(At lower of cost and net realisable value except for stock-in-trade measured at fair value)

The Company offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority. Significant management judgement is required in determining provision for income tax, deferred income tax assets and liabilities and recoverability of deferred income tax assets. The recoverability of deferred income tax assets is based on estimates of taxable income by each jurisdiction in which the relevant entity operates and the period over which deferred income tax assets will be recovered.

(d) Movement in deferred tax balancesNet balance

April 1, 2017 Recognised in profit or loss

Recognised in OCI

Balance March 31, 2018

Deferred tax asset Deferred tax liability

Deferred Tax Liabilities

58,54,07,238 3,88,26,128 0 62,42,33,366 0 62,42,33,366

Depreciation 58,54,07,238 3,88,26,128 62,42,33,366 62,42,33,366

Deferred Tax Assets

1,00,32,22,268 26,19,03,288 (17,44,177) 1,26,33,81,379 1,26,33,81,379

Provision for doubtful debts & advances

4,04,32,745 -36,39,239 3,67,93,506 3,67,93,506

MAT Credit available 11,59,80,674

11,59,80,674 11,59,80,674

Other timing differences

84,68,08,849 26,55,42,527 (17,44,177) 1,11,06,07,199 1,11,06,07,199

Net Deferred tax 41,78,15,030 22,30,77,160 (17,44,177) 63,91,48,013 1,26,33,81,379 62,42,33,366




March 31, 2016

Note :(i) The above includes debts due includes claim settlement of Rs. 56.70 crores as per Arbitration award


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Note - 9b

Cash and cash equivalents Balances with Banks i) In Current Accounts 6,88,380 33,20,104 67,29,000 Cheques on Hand - - 1,45,506 Cash on hand 75,867 2,88,812 15,55,235

7,64,247 36,08,916 84,29,741 Note - 9cBank balances Other than cash and cash equivalents above

In Deposit Accounts More than 3 months but less than or equal to 12 months maturity. - Against Margin Money [ Under lien ] 3,47,21,905 2,86,55,578 3,72,56,548

3,47,21,905 2,86,55,578 3,72,56,548

Note - 9dLoansUnsecured, considered good (unless otherwise stated):

Loans to Related parties 5,59,18,313 5,48,00,844 5,50,98,947 Other Trade Advances 6,20,161 6,20,161 26,62,434

5,65,38,474 5,54,21,005 5,77,61,381 Note - 10Other Current Assets

a) Advances recoverable in cash or in kind or for value to be received Considered good 2,07,40,772 5,00,02,583 92,48,153 b) Other Trade Advance 39,24,098 54,91,849 1,37,89,992 Considered good

2,46,64,870 5,54,94,432 2,30,38,145 Note - 11Equity share capital

(a) Authorisedi) Equity Shares3,65,00,000 ( FY 2016-2017 3,65,00,000 and April 1, 2016: 3,65,00,000) of face value of ` 10/- each

36,50,00,000 36,50,00,000 36,50,00,000

36,50,00,000 36,50,00,000 36,50,00,000 (b) Issued, Subscribed and paid-up

i) Equity Shares2,98,16,300( FY 2016-2017 2,98,16,300 and April 1, 2016: 2,98,16,300) of face value of ` 10/- each

29,81,63,000 29,81,63,000 29,81,63,000

29,81,63,000 29,81,63,000 29,81,63,000




March 31, 2016

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(c) Rights, Preferences and Restrictions attached to shares

(d) Lock in Restrictions

(e) Details of shares held by shareholders holding more than 5% shares in the Company.

Equity Shares: The Company has one class of equity shares having a par value of Rs. 10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

None of the shares are subject to lock in restrictions.




% March 31, 2017

% March 31, 2016

%

EQUITY SHARESRajratan Exports Private Limited

66,66,665 22.36 66,66,665 22.36 66,66,665 22.36

PDPL Holdings Private Limited

32,17,120 10.79 32,17,120 10.79 32,17,120 10.79


16,00,000 5.37 16,00,000 5.37 16,00,000 5.37

MVG Mercantile Private Limited

97,22,966 32.61 97,22,966 32.61 97,22,966 32.61

(f )

Nil

Nil

Nil

(g)

( c) Aggregate number and class of shares bought back:

For reconciliation of number of shares outstanding at the beginning and at the end of the year - Refer Note (a) of Statement of Changes in Equity (SOCIE).

For the period of five years immediately preceding the date as at which the Balance Sheet is prepared:

(a) Aggregate number and class of shares alloted as fully paid- up pursuant to contract (s) without payment being received in cash:

(b) Aggregate number and class of shares alloted as fully paid- up by way of bonus shares:

Note - 12Other Equity

A Amalgamation Reserve 3,44,22,288 3,44,22,288 3,44,22,288 B Securities Premium Reserve 2,03,70,74,013 2,03,70,74,013 2,03,70,74,013 C General Reserve 8,39,51,123 8,39,51,123 8,39,51,123 D Capital Reserve 18,27,852 18,27,852 18,27,852 E Revaluation Reserve 2,63,37,06,474 2,63,37,06,474 2,63,37,06,474 F Equity Component of Compound

Financial Instrument 42,44,77,658 42,44,77,658 42,44,77,658

G Capital Redemption Reserve 5,50,00,000 5,50,00,000 5,50,00,000 H Retained Earnings (6,93,29,96,289) (5,74,30,66,993) (4,56,27,21,266)

TOTAL (1,66,25,36,880) (47,26,07,584) 70,77,38,142


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As atMarch 31, 2017

As atMarch 31, 2016

(Amount in `)Particulars

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A Amalgamation ReserveBalance as at the beginning of the year 3,44,22,288 3,44,22,288 3,44,22,288 Less: Utilised during the year - - - Balance as at the end of the year 3,44,22,288 3,44,22,288 3,44,22,288

B Securities Premium Reserve Balance as at the beginning of the year 2,03,70,74,013 2,03,70,74,013 2,83,53,21,970 Add: Premium on shares issued/call money received during the year

- - 27,50,00,000

Less: Transfer - - 1,07,32,47,957 Balance as at the end of the year 2,03,70,74,013 2,03,70,74,013 2,03,70,74,013

C General Reserve Balance as at the beginning of the year 8,39,51,123 8,39,51,123 8,39,51,123

Add: Transfer from Statement of Profit and Loss

- - -

Balance as at the end of the year 8,39,51,123 8,39,51,123 8,39,51,123 D Capital Reserve

Balance as at the beginning of the year 18,27,852 18,27,852 61,00,000 Add: Due to Subsideries 17,27,852 Less: Tranfer to Other Current Liabilities - -60,00,000

Balance as at the end of the year 18,27,852 18,27,852 18,27,852 E Revaluation Reserve

Balance as at the beginning of the year 2,63,37,06,474 2,63,37,06,474 1,19,14,109 Addition during the year - - 2,62,17,92,365 Balance as at the end of the year 2,63,37,06,474 2,63,37,06,474 2,63,37,06,474

F Equity Component of Compound Financial Instrument Balance as at the beginning of the year 42,44,77,658 42,44,77,658

Addition/(deletion) during the year - 42,44,77,658

Balance as at the end of the year 42,44,77,658 42,44,77,658 42,44,77,658

G Capital Redemption ReserveBalance as at the beginning of the year 5,50,00,000 5,50,00,000 5,50,00,000 Less: Utilised during the yearBalance as at the end of the year 5,50,00,000 5,50,00,000 5,50,00,000

H Retained EarningsBalance as at the begining of the year -5,74,30,66,993 -4,56,27,21,266 -1,97,37,58,186 Balance as at the begining of the year (For understanding) Add: Net Profit/(Loss) for the year/period -1,18,94,22,631 -1,17,82,99,377 -2,58,94,74,080 Less: Adjustment due to closure of Subsidiaries

- 10,03,436 -

- Items of OCI directly Reconised in Retained Earnings - Remeasurement of the defined benefit plans through Other Comprehensive Income

12,37,512 -68,11,196 5,11,000

Less : Tax Impact on above -17,44,177 37,61,411 - Balance as at the end of the year (6,93,29,96,289) (5,74,30,66,993) (4,56,27,21,266)

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As atMarch 31, 2018

As atMarch 31, 2017

As atMarch 31, 2016




(i) Amalgamation Reserve

(ii) Securities Premium Reserve

(iii) General Reserve

(iv) Revaluation Reserve

(v) Equity Component of Compound Financial Instrument

(vi) Capital Redemption Reserve

(vii) Retained Earnings

The company has elected to recognise changes in fair value of certain class of investements in other comprehensive income. These faie value changes are accumulated within this reserve and shall be adjusted on derecognition of investment.

Capital Redemption Reserve was created out of profits of the Company for the purpose of redemption of shares.

The same is created out of profits over the years and shall be utilised as per the provisions of the Act.

Amalgamation Reserve was acquired at the time of amalgamation of PFL Holding Private Limited & Gfl Holding Private Limited in financial year 2008-09 amounting to Rs. 3,44,22,288/-

Securities Premium Reserve is created on recording of premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

The same is Created out of Surplus profits transferred as per the provisions of the Act, it is utilised as per provisions of the Act.

Revaluation Reserve was created in financial year 1992-93 amounting to Rs. 1,25,61,097. for fair valued certain items of Plant Property and Equipments and in financial year 2015-16 the compay increasd the value of asrawad Land amounting to 2,62,17,92,365.

I NATURE AND PURPOSE OF RESERVES

Note - 13BorrowingsA Term Loans from Banks [ Refer Note D

and E below ] Secured - Rupee Loans 2,52,72,43,025 3,23,95,84,025 3,79,40,25,024

B Deferred payment liabilities Unsecured Deposit from Suppliers and Stockists 25,38,13,576

26,31,09,950 22,93,44,750

Loans & Advances From Related Parties

30,52,95,175 30,47,26,299 33,46,08,538

C Cumulative Redeemable Preference Shares [Refer Note F below]

- -

Unsecured35,00,000 (35,00,000) Shares, 0% Non Cumulative,Non convertible Redeemable Preference Share of Rs. 10/-Each

3,41,66,416 3,24,99,252 3,50,00,000

Fair valuation of Preference shares issued

8,33,584 16,67,164 1,32,62,995


-1,57,63,743

3,50,00,000 3,41,66,416 3,24,99,252


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As atMarch 31, 2018

As atMarch 31, 2017

As atMarch 31, 2016


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[Including Premium of 27,50,00,000]Fair valuation of Preference shares issued 71,44,994 1,42,89,992 11,36,82,810

Transfer to Equity Component of Compound Financial Instrument

-13,51,17,796

30,00,00,000 29,28,55,006 27,85,65,014 70,37,898 (70,37,898) -0% Redeemable Preference shares of Rs. 10/- each [Including Premium of 361,747,957]

42,18,35,120 40,12,51,488 43,21,26,937

Fair valuation of Preference shares issued

1,02,91,816 2,05,83,632 16,37,51,349

Trasnfer to Equity Component of Compound Financial Instrument

-19,46,26,798

43,21,26,936 42,18,35,120 40,12,51,488

48,50,000 (48,50,000) 0% Redeemable Preference Shares of Rs 10 each

47,54,05,359 45,62,16,071 48,50,00,000

[Including Premium of 43,65,00,000]Fair valuation of Preference shares issued

95,94,641 1,91,89,288 5,01,85,392

Trasnfer to Equity Component of Compound Financial Instrument

-7,89,69,321

48,50,00,000 47,54,05,359 45,62,16,071 4,33,84,78,712 5,03,16,82,175 5,52,65,10,137

25,00,000 (25,00,000) Shares, 0% Non convertible Redeemable Preference Share of Rs. 10/- Each

29,28,55,006 27,85,65,014 30,00,00,000

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Ra

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n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8


125

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Term

Loa

n III

fr

om S

tate

Ba

nk o

f Ind

ia

BR

+ 2.

00%

20

21-2

022

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

47.1

8 Cr

ore

50,7

5,16

,322

45,4

6,90

,075

40,6

3,57

,154

Term

Loa

n IV

fr

om S

tate

Ba

nk o

f Ind

ia

BR

+ 2.

00%

20

21-2

022

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

45.5

6 Cr

ore

49,0

2,65

,957

43,9

2,62

,541

39,2

5,97

,403

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8

126


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Term

Loa

n V

from

Sta

te

Bank

of I

ndia

BR

+ 2.

00%

20

22-2

023

Rep

ayab

le in

24

Qua

rter

ly

Inst

allm

ent s

tart

fo

m M

arch

201

6 on

san

ctio

ned

amou

nt R

s. 66

.60

Cror

e

88,0

1,74

,320

78,8

6,08

,300

70,4

8,04

,912

Corp

orat

e Lo

an I

from

St

ate

Bank

of

Indi

a

BR

+ 2.

00%

20

21-2

022

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

27.9

8 Cr

ore

30,1

1,14

,234

26,9

8,60

,366

24,1

1,82

,995

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8


127

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Corp

orat

e Lo

an II

from

St

ate

Bank

of

Indi

a

BR

+ 2.

00%

20

19-2

020

Rep

ayab

le in

24

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

11.0

0 Cr

ore

13,0

9,35

,948

11,7

3,10

,696

10,4

8,44

,388

Corp

orat

e Lo

an II

I fro

m

Stat

e Ba

nk o

f In

dia

BR

+ 2.

00%

20

20-2

021

Rep

ayab

le in

24

Qua

rter

ly

Inst

allm

ent s

tart

fo

m M

arch

201

6 on

san

ctio

ned

amou

nt R

s. 12

.39

Cror

e

13,9

1,29

,650

12,4

7,25

,242

11,1

4,71

,009

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of th

e Co

mpa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pro

pert

y be

long

s to

Shr

i M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee o

f D

iam

ond

Crys

tal

Pvt.

Ltd,

Par

ente

ral

Med

icin

es L

imite

d,

Rajra

tan

Exp

orts

Pvt

. Ltd

, MVG

Mer

cant

ile P

vt. L

td,

PDPL

Hol

ding

s Pv

t. Lt

d,

PDPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pv

t. Lt

d,

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of th

e Co

mpa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t And

heri

(W) M

umba

i an

d m

ortg

age

of h

ouse

pro

pert

y be

long

s to

Shr

i M

anoh

arla

l G

upta

and

Shr

i Vin

od K

umar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee o

f D

iam

ond

Crys

tal

Pvt.

Ltd,

Par

ente

ral

Med

icin

es L

imite

d,

Rajra

tan

Exp

orts

Pvt

. Ltd

, MVG

Mer

cant

ile P

vt. L

td,

PDPL

Hol

ding

s Pv

t. Lt

d,

PDPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pv

t. Lt

d,

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8

128


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

Wor

king

Ca

pita

l Ter

m

Loan

from

St

ate

Bank

of

Indi

a

11%

2021

-202

2 R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

fom

June

201

4 on

sa

nctio

ned

amou

nt R

s. 69

.00

Cror

e

89,7

1,74

,522

80,4

9,63

,298

72,1

5,63

,490

Fund

ed

Inte

rest

Te

rm L

oan

from

Sta

te

Bank

of I

ndia

11%

2011

-202

2 R

epay

able

in 2

4 Q

uart

erly

In

stal

lmen

t sta

rt

fom

June

201

4 on

sa

nctio

ned

amou

nt R

s. 59

.00

Cror

e

73,4

7,02

,496

65,7

9,90

,725

56,4

3,41

,008

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8


129

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Term

Loa

n I

from

Pun

jab

Nat

iona

l Ba

nk

BBR

+ 4

.25%

20

21-2

022

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

014o

n sa

nctio

ned

amou

nt R

s. 0.

58

Cror

e

71,4

6,94

0

63,6

9,82

8

56,9

7,68

4

Term

Loa

n II

from

Pun

jab

Nat

iona

l Ba

nk

BBR

+ 4

.25%

20

21-2

022

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

014

on

sanc

tione

d am

ount

Rs.

0.76

Cr

ore

63,8

8,65

8

53,3

7,43

1

44,2

8,20

4

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shri

Vino

d G

upta

and

Shr

i G

.D.

Gar

g, a

nd C

orpo

rate

G

uara

ntee

of

D

iam

ond

Crys

tal

Pvt.

Ltd,

Pa

rent

eral

M

edic

ines

Li

mite

d,

Rajra

tan

Exp

orts

Pvt

. Ltd

, MVG

Mer

cant

ile P

vt. L

td,

PDPL

Hol

ding

s Pv

t. Lt

d,

PDPL

Sec

uriti

es P

vt. L

td, M

ahag

anpa

ti In

vest

men

t Pv

t. Lt

d,

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by w

ay o

f pl

edge

of

fixed

dep

osit

and

first

par

i pas

su

char

ge b

y w

ay o

f ple

dge

of t

otal

2,0

6,49

,243

nos

of e

quity

sha

res

of

M/s

. Pa

rent

eral

Dru

gs (I

ndia

) Lim

ited

held

in th

e na

meo

f Raj

rata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Ltd

(97

,22,

966)

, P

DPL

Hol

ding

s Pv

t. Lt

d

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, Mah

agan

pati

Inve

stm

ent P

vt.

Ltd

(16,

00,0

00)

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pv

t. Lt

d (3

0,98

6) a

nd

pers

onal

gua

rant

ee o

f fo

ur D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l G

upta

, Sh

ri Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8

130


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Term

Loa

n III

fr

om P

unja

b N

atio

nal

Bank

BBR

+ 5

.00%

20

21-2

022

Rep

ayab

le in

32

Qua

rter

ly

Inst

allm

ent s

tart

fo

m Ju

ne 2

016

on

sanc

tione

d am

ount

Rs.

14.0

3 Cr

ore

20,3

9,98

,171

17,6

4,42

,095

15,2

6,08

,295

Corp

orat

e Lo

an I

from

Pu

njab

na

tiona

Ban

k

BBR

+ 4

.50%

20

19-2

020

Rep

ayab

le in

24

Qua

rter

ly

Inst

allm

ent s

tart

fo

m M

arch

201

6 on

san

ctio

ned

amou

nt R

s. 19

.00

Cror

e

26,3

1,25

,962

22,8

3,44

,436

19,8

4,77

,901

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t ex

clus

ive

char

ge b

y w

ay o

f pl

edge

of

fixed

dep

osit

and

first

par

i pa

ssu

char

ge b

y w

ay o

f ple

dge

of t

otal

2,0

6,49

,243

nos

of e

quity

sha

res

of

M/s

. Pa

rent

eral

Dru

gs (I

ndia

) Lim

ited

held

in th

e na

meo

f Raj

rata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Ltd

(97

,22,

966)

, P

DPL

Hol

ding

s Pv

t. Lt

d

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (6

,11,

506)

, Mah

agan

pati

Inve

stm

ent P

vt.

Ltd

(16,

00,0

00)

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pv

t. Lt

d (3

0,98

6) a

nd

pers

onal

gua

rant

ee o

f fo

ur D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l G

upta

, S

hri

Vino

d G

upta

and

Shr

i G

.D.

Gar

g, a

nd C

orpo

rate

G

uara

ntee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d, P

aren

tera

l M

edic

ines

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8


131

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Wor

king

Ca

pita

l Ter

m

Loan

from

Pu

njab

N

atio

nal

Bank

11%

2021

-202

2 R

epay

able

in 3

2 Q

uart

erly

In

stal

lmen

t sta

rt

fom

Jun

e 20

14 o

n sa

nctio

ned

amou

nt R

s. 2

7.00

Cr

ore

36,0

1,14

,863

31,9

9,42

,230

28,6

7,58

,946

secu

red

by fi

rst

pari

pass

u ch

arge

on

entir

e fix

ed a

sset

s of

the

Com

pany

and

se

cond

par

i pas

su c

harg

e on

ent

ire c

urre

nt a

sset

s of

the

Com

pany

and

firs

t pa

ri pa

ssu

char

ge b

y w

ay o

f eq

uita

ble

mor

tage

of

prop

erty

bel

ongi

ng t

o D

iam

ond

Crys

tal

Priv

ate

Lim

ited

situ

ated

at

Nem

awar

Roa

d, I

ndor

e an

d eq

uita

ble

mor

tgag

e of

of

fice

prop

erty

be

long

to

Pa

rent

eral

M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) M

umba

i a

nd m

ortg

age

of h

ouse

pro

pert

y be

long

s to

Shr

i M

anoh

arla

l G

upta

and

Shr

i Vi

nod

Kum

ar G

upta

and

firs

t ex

clus

ive

char

ge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of

pled

ge o

f t

otal

2,0

6,49

,243

nos

of

equi

ty s

hare

s of

M/s

. Pa

rent

eral

Dru

gs (I

ndia

) Lim

ited

held

in t

he n

ameo

f Ra

jrata

n Ex

port

s Pv

t. Lt

d (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Lt

d (9

7,22

,966

), P

DPL

Hol

ding

s Pv

t. Lt

d

(32,

17,1

20),

PDPL

Sec

uriti

es P

vt. L

td (

6,11

,506

), M

ahag

anpa

ti In

vest

men

t Pv

t. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, P

DPL

Hol

ding

s Pv

t. Lt

d,

PDPL

Sec

uriti

es P

vt.

Ltd,

Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Corp

orat

e Lo

an II

from

Pu

njab

na

tiona

Ban

k

BBR

+ 5

.00%

20

19-2

020

Rep

ayab

le in

16

Qua

rter

ly

Inst

allm

ent s

tart

fo

m M

arch

201

6 on

san

ctio

ned

amou

nt R

s. 2.

61

Cror

e

3,79

,27,

452

3,28

,04,

211

2,83

,73,

018

secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

fixe

d as

sets

of t

he C

ompa

ny a

nd

seco

nd p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Pr

ivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Ind

ore

and

equi

tabl

e m

ortg

age

of o

ffice

pro

pert

y be

long

to

Pare

nter

al M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri

Man

ohar

lal

Gup

ta a

nd S

hri

Vino

d Ku

mar

Gup

ta a

nd f

irst

excl

usiv

e ch

arge

by

way

of

pled

ge o

f fix

ed d

epos

it an

d fir

st p

ari

pass

u ch

arge

by

way

of p

ledg

e of

tot

al 2

,06,

49,2

43 n

os o

f equ

ity s

hare

s of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof R

ajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt. L

td (

97,2

2,96

6),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Lt

d (1

6,00

,000

) an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

pe

rson

al g

uara

ntee

of

four

Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal

Gup

ta,

Shr

i Vi

nod

Gup

ta a

nd S

hri

G.D

. G

arg,

and

Cor

pora

te

Gua

rant

ee

of

Dia

mon

d Cr

ysta

l Pv

t. Lt

d,

Pare

nter

al

Med

icin

es

Lim

ited,

Ra

jrata

n E

xpor

ts P

vt. L

td, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Ltd

, Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd,

an

d Pa

rent

eral

Co

mm

erci

al S

ervi

ces P

vt. L

td.

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8

132


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Fund

ed

Inte

rest

Te

rm L

oan

from

Pun

jab

Nat

iona

l Ba

nk

11%

2017

-201

8 R

epay

able

in 2

4 Q

uart

erly

In

stal

lmen

t sta

rt

fom

Jun

e 20

14 o

n sa

nctio

ned

amou

nt R

s. 1

0.48

Cr

ore

12,1

1,07

,446

10

,75,

97,2

98

9,64

,37,

684

Stat

e Ba

nk o

f In

dia

Base

Rat

e +

7.2

0%20

21-2

022

28

Qua

rter

ly

inst

alm

ent

sepa

rate

ly s

tart

ed

from

Dec

embe

r 20

14

12,3

6,57

,677

15,0

8,34

,176

18,1

2,70

,897

Indi

an

Ove

rsea

s Ba

nk

Base

Rat

e +

4.2

5% 2

021-

2022

18

,91,

41,5

51

23,1

0,54

,951

26,7

3,42

,288

5,59

,65,

63,2

86

5,09

,79,

60,8

74

4,63

,10,

58,3

87

1,79

,94,

74,7

951,

15,6

2,23

,694

64,0

9,28

,384

1,26

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45,4

6770

,21,

53,1

5619

,61,

04,9

792,

52,7

2,43

,025

3,23

,95,

84,0

253,

79,4

0,25

,023

Non

-cur

rent

bor

row

ings

as

per

bal

ance

she

et

secu

red

by fi

rst

pari

pass

u ch

arge

on

entir

e fix

ed a

sset

s of

the

Com

pany

and

se

cond

par

i pas

su c

harg

e on

ent

ire c

urre

nt a

sset

s of

the

Com

pany

and

firs

t pa

ri pa

ssu

char

ge b

y w

ay o

f eq

uita

ble

mor

tage

of

prop

erty

bel

ongi

ng t

o D

iam

ond

Crys

tal

Priv

ate

Lim

ited

situ

ated

at

Nem

awar

Roa

d, I

ndor

e an

d eq

uita

ble

mor

tgag

e of

of

fice

prop

erty

be

long

to

Pa

rent

eral

M

edic

ines

Li

mite

d si

tuat

ed a

t A

ndhe

ri (W

) M

umba

i a

nd m

ortg

age

of h

ouse

pro

pert

y be

long

s to

Shr

i M

anoh

arla

l G

upta

and

Shr

i Vi

nod

Kum

ar G

upta

and

firs

t ex

clus

ive

char

ge b

y w

ay o

f pl

edge

of

fixed

dep

osit

and

first

par

i pa

ssu

char

ge b

y w

ay o

f pl

edge

of

tot

al 2

,06,

49,2

43 n

os o

f eq

uity

sha

res

of

M

/s.

Pare

nter

al D

rugs

(Ind

ia) L

imite

d he

ld in

the

nam

eof

Rajra

tan

Expo

rts

Pvt.

Ltd

(54,

66,6

65),

MVG

Mer

cant

ile P

vt.

Ltd

(97,

22,9

66),

PD

PL H

oldi

ngs

Pvt.

Ltd

(3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,

11,5

06),

Mah

agan

pati

Inve

stm

ent

Pvt.

Ltd

(16,

00,0

00)

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pv

t. Lt

d (3

0,98

6) a

nd

pers

onal

gua

rant

ee o

f fo

ur D

irect

ors,

Smt.

Alp

ana

Gup

ta,

HU

F of

Shr

i M

anoh

arla

l G

upta

, S

hri

Vino

d G

upta

and

Shr

i G

.D.

Gar

g, a

nd C

orpo

rate

G

uara

ntee

of

D

iam

ond

Crys

tal

Pvt.

Ltd,

Pa

rent

eral

M

edic

ines

Li

mite

d,

Rajra

tan

Exp

orts

Pvt

. Ltd

, MVG

Mer

cant

ile P

vt. L

td,

PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL S

ecur

ities

Pvt

. Lt

d, M

ahag

anpa

ti In

vest

men

t Pv

t. Lt

d,

and

Pare

nter

al

Com

mer

cial

Ser

vice

s Pvt

. Ltd

.

Less

: Cl

assi

fied

und

er

Curr

ent m

atur

ities

of L

ong

term

deb

ts [

Refe

r Not

e 15

( c)

]In

tere

st a

ccru

ed [

Refe

r Not

e 15

( c)

]

Sec

ured

by

first

par

ri pa

ssu

char

ge o

n en

tire

fixed

ass

ets

of t

he c

ompa

ny

and

seco

nd p

arri

pass

u ch

arge

on

curr

ent

asse

ts o

f th

e co

mpa

ny a

nd

pers

onal

gua

rant

ee o

f all d

irect

ors.

Sec

ured

by

first

par

ri pa

ssu

char

ge o

n en

tire

fixed

ass

ets

of th

e co

mpa

ny a

nd

seco

nd p

arri

pass

u ch

arge

on

curr

ent

asse

ts o

f th

e co

mpa

ny a

nd p

erso

nal

guar

ante

e of

all

dire

ctor

s and

Cor

pora

te g

uara

ntee

by

Mah

agan

pati

Inve

stm

ents

Pr

ivat

e Li

mite

d

28

Qua

rter

ly

inst

alm

ent

sepa

rate

ly s

tart

ed

from

mar

ch 2

015

BBR

- Ban

k Ba

se R

ate

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8


133

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

E

Due date for payment

of Principal Amount of Interest accrued

PARENTERAL DRUGS (INDIA) LIMITEDTerm Loan I from State Bank of India 1,15,89,625 88,51,497 JAN16 TO MAR 18

Term Loan II from State Bank of India 5,02,63,202 3,76,36,793 JAN16 TO MAR 18

Term Loan III from State Bank of India 15,47,60,901 11,61,55,422 JAN16 TO MAR 18

Term Loan IV from State Bank of India 14,95,66,491 11,23,99,466 JAN16 TO MAR 18

Term Loan V from State Bank of India 4,68,99,390 21,41,74,931 JAN16 TO MAR 18

Corporate Loan I from State Bank of India 9,16,06,315 6,89,07,919 JAN16 TO MAR 18

Corporate Loan II from State Bank of India 3,12,89,129 2,99,79,820 JAN16 TO MAR 18

Corporate Loan III from State Bank of India 2,86,00,000 3,38,29,650 JAN16 TO MAR 18

Working Capital Term Loan from State Bank of India

4,02,67,517 20,15,96,005 JAN16 TO MAR 18

Funded Interest Term Loan from State Bank of India

30,74,13,268 15,79,81,204 JAN16 TO MAR 18

Term Loan I from Punjab National Bank 15,40,000 18,71,941 JAN16 TO MAR 18Term Loan II from Punjab National Bank 21,45,000 24,88,658 JAN16 TO MAR 18

Term Loan III from Punjab National Bank 95,99,230 6,36,98,941 JAN16 TO MAR 18

Corporate Loan I from Punjab nationa Bank 3,83,94,250 8,27,09,712 JAN16 TO MAR 18

Corporate Loan II from Punjab nationa Bank 59,52,000 1,21,75,452 JAN16 TO MAR 18

Working Capital Term Loan from Punjab National Bank

1,36,73,250 9,37,55,612 JAN16 TO MAR 18

Funded Interest Term Loan from Punjab National Bank

8,94,75,000 3,16,32,446 JAN16 TO MAR 18

INFUTEC HEALTHCARE LIMITED

Term Loan Sate Bank of India 68,00,000 15,86,447 March 2018

Term Loan Indian Overseas Bank 1,02,00,000 66,17,430 January,february & March 2018

Total 1,09,00,34,568 1,27,80,49,344 F Rights, Preferences and Restrictions attached

to shares

(ii) Reconcilation of number of shares As atMarch 31, 2018

As atMarch 31, 2017

As atApril 1, 2016

Balance at the Beginning of the year 3,46,66,300 3,46,66,300 3,46,66,300 Issued during the year (conversion of preference shares) - - - Balance at the End of the year

(iii) 25,00,000 [F.Y. 2016-17 25,00,000 and April 1, 2016 25,00,000] 0% redeemable preference shares shares issued in financial year 2015-16 carries a 0% dividend right & can be redeemed within a period of twenty years.

(i) 35,00,000 [F.Y. 2016-17 35,00,000 and April 1, 2016 35,00,000] 0% Non Cumulative, Non Convertible redeemable preference shares issued in financial year 2007-08 carries a 0% dividend right & can be redeemed within a period of twenty years.(ii) 70,37,898 [F.Y. 2016-17 70,37,898 and April 1, 2016 70,37,898] 0% Non Cumulative, Non Convertible redeemable preference shares issued in financial year 2008-09 to 2013-14 carries a 0% dividend right & can be redeemed within a period of twenty years.

Amount of continuing default as on March 31, 2018 ( in `)

Particulars of Loans

During the year, the Company has defaulted in repayment of the loans which remained outstanding, are as follows:

PARENTERAL DRUGS (INDIA) LIMITEDNotes to Consolidated Financial Statement for the year ended March 31, 2018

3,46,66,300 3,46,66,300 3,46,66,300

134


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

Note - 14Others non current liabilities

(a) Government Grants - Deferred Income [ Refer Note (i) below]

16,50,000 18,00,000 19,50,000

16,50,000 18,00,000 19,50,000 Note:(i) Government Grants - Deferred Income

Opening Balance 19,50,000 21,00,000 21,00,000 Grants during the year - - - Less: Released to profit and loss [ Refer Note 18(C)(iii)]

1,50,000 1,50,000 -

Closing balance 18,00,000 19,50,000 21,00,000

Classified under Non-Current Liabilities [ Refer Note 14 (a)]

16,50,000 18,00,000 19,50,000

Classified under Current Liabilities [ Refer Note 16 (c)]

1,50,000 1,50,000 1,50,000


% March 31, 2017

% March 31, 2016

%

PREFERANCE SHAREParenteral Drugs (India) Limited

PDPL Holdings Private Limited 35,00,000 26.84 35,00,000 26.84 35,00,000 26.84


70,37,898 53.98 70,37,898 53.98 70,37,898 53.98

Anitas Exports Private Limited 25,00,000 19.17 25,00,000 19.17 25,00,000 19.17


Mahaganpati Investments Pvt Ltd

48,50,000 66.90 48,50,000 66.90 48,50,000 67


BorrowingsLoans repayable on demandi) Secured From Banks

Working Capital Loans

1,53,36,09,548

1,53,11,67,415

1,52,21,16,539

1,53,36,09,548

1,53,11,67,415

1,52,21,16,539

Note - 15 a

A

Details of shares held by shareholders holding more than 5% shares in the Company.Notes to Consolidated Financial Statement for the year ended March 31, 2018


135

As atMarch 31, 2018

As atMarch 31, 2017

As atMarch 31, 2016


NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

CPa

rtic

ular

sIn

tere

st R

ate

Secu

rity

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

EDCa

sh c

redi

t fro

m S

tate

Ba

nk o

f Ind

iaBB

R +

2%

Cash

cre

dit f

rom

Pu

njab

Nat

iona

l Ban

kBB

R +

2%

INFU

TEC

HEA

LTH

CARE

LI

MIT

EDW

orki

ng C

apita

l Loa

ns

from

Sta

te B

ank

of

Indi

a

MCL

R +7

.10%

Wor

king

Cap

ital L

oans

fr

om In

dian

Ove

rsea

s Ba

nk

Base

Rat

e +4

.25%

Secu

red

by fi

rst p

arri

pass

u ch

arge

on

curr

ent a

sset

s of t

he co

mpa

ny a

nd se

cond

par

ri pa

ssu

char

ge o

n fix

ed a

sset

s of

the

com

pany

and

per

sona

l gua

rant

ee o

f the

dire

ctor

s.

Repa

yabl

e on

dem

and

durin

g th

e fa

cilit

y te

nure

of 1

2 m

onth

s.

Secu

red

by fi

rst p

arri

pass

u ch

arge

on

curr

ent a

sset

s of

the

com

pany

and

sec

ond

parr

i pas

su c

harg

e on

fixe

d as

sets

of t

he c

ompa

ny a

nd p

erso

nal g

uara

ntee

of t

he d

irect

ors.

Re

paya

ble

on d

eman

d du

ring

the

faci

lity

tenu

re o

f 12

mon

ths.

Term

s of

Rep

aym

ent

Secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of th

e Co

mpa

ny a

nd s

econ

d pa

ri pa

ssu

char

ge o

n en

tire

fixed

ass

ets

of t

he C

ompa

ny a

nd f

irst

pari

pass

u ch

arge

by

way

of

equi

tabl

e m

orta

ge o

f pr

oper

ty b

elon

ging

to

Dia

mon

d Cr

ysta

l Priv

ate

Lim

ited

situ

ated

at N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Par

ente

ral M

edic

ines

Lim

ited

situ

ated

at A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri M

anoh

arla

l Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t exc

lusi

ve c

harg

e by

way

of p

ledg

e of

fixe

d de

posi

t an

d fir

st p

ari p

assu

cha

rge

by w

ay o

f ple

dge

of t

otal

2,0

6,49

,243

nos

of e

quity

shar

es o

f M/s

. Par

ente

ral D

rugs

(Ind

ia)

Lim

ited

held

in th

e na

me

of R

ajra

tan

Expo

rts P

vt. L

td (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Ltd

(97,

22,9

66),

PDPL

Hol

ding

s Pv

t. Lt

d (3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Shr

i Vin

od G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td,

Pare

nter

al M

edic

ines

Lim

ited,

Raj

rata

n Ex

port

s Pv

t. Lt

d, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL

Secu

ritie

s. Pv

t. Lt

d, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, and

Par

ente

ral C

omm

erci

al S

ervi

ces P

vt. L

td.

Repa

yabl

e on

dem

and

durin

g th

e fa

cilit

y te

nure

of 1

2 m

onth

s

Secu

red

by fi

rst p

ari p

assu

cha

rge

on e

ntire

cur

rent

ass

ets

of th

e Co

mpa

ny a

nd s

econ

d pa

ri pa

ssu

char

ge o

n en

tire

fixed

ass

ets

of t

he C

ompa

ny a

nd fi

rst

pari

pass

u ch

arge

by

way

of e

quita

ble

mor

tage

of p

rope

rty

belo

ngin

g to

D

iam

ond

Crys

tal P

rivat

e Li

mite

d si

tuat

ed a

t N

emaw

ar R

oad,

Indo

re a

nd e

quita

ble

mor

tgag

e of

offi

ce p

rope

rty

belo

ng to

Par

ente

ral M

edic

ines

Lim

ited

situ

ated

at A

ndhe

ri (W

) Mum

bai

and

mor

tgag

e of

hou

se p

rope

rty

belo

ngs

to S

hri M

anoh

arla

l Gup

ta a

nd S

hri V

inod

Kum

ar G

upta

and

firs

t exc

lusi

ve c

harg

e by

way

of p

ledg

e of

fixe

d de

posi

t an

d fir

st p

ari p

assu

cha

rge

by w

ay o

f ple

dge

of t

otal

2,0

6,49

,243

nos

of e

quity

shar

es o

f M/s

. Par

ente

ral D

rugs

(Ind

ia)

Lim

ited

held

in th

e na

me

of R

ajra

tan

Expo

rts P

vt. L

td (5

4,66

,665

), M

VG M

erca

ntile

Pvt

. Ltd

(97,

22,9

66),

PDPL

Hol

ding

s Pv

t. Lt

d (3

2,17

,120

), PD

PL S

ecur

ities

Pvt

. Ltd

(6,1

1,50

6), M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

(16,

00,0

00) a

nd P

aren

tera

l Co

mm

erci

al S

ervi

ces

Pvt.

Ltd

(30,

986)

and

per

sona

l gua

rant

ee o

f fou

r Dire

ctor

s, Sm

t. A

lpan

a G

upta

, H

UF

of S

hri

Man

ohar

lal G

upta

, Shr

i Vin

od G

upta

and

Shr

i G.D

. Gar

g, a

nd C

orpo

rate

Gua

rant

ee o

f D

iam

ond

Crys

tal P

vt. L

td,

Pare

nter

al M

edic

ines

Lim

ited,

Raj

rata

n Ex

port

s Pv

t. Lt

d, M

VG M

erca

ntile

Pvt

. Ltd

, PD

PL H

oldi

ngs

Pvt.

Ltd,

PD

PL

Secu

ritie

s. Pv

t. Lt

d, M

ahag

anpa

ti In

vest

men

t Pvt

. Ltd

, and

Par

ente

ral C

omm

erci

al S

ervi

ces P

vt. L

td.

Repa

yabl

e on

dem

and

durin

g th

e fa

cilit

y te

nure

of 1

2 m

onth

s

PARE

NTE

RAL

DRU

GS

(IND

IA) L

IMIT

ED

Not

es to

Con

solid

ated

Fin

anci

al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8

136


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

D Details of Loans Recalled

NIL

E During the year, the Company has defaulted in repayment of the loan which remain outstanding are as follows:Due date Amount paid Date of

payment

of Principal Amount of Interest accrued for paymentPARENTERAL DRUGS (INDIA) LIMITEDCash credit from State Bank of India

1,00,03,37,252

41,31,48,880


27,90,16,854

14,30,98,323


Working Capital Loans from State Bank of India

2847696 31-Mar-2018 28,47,696

April & May 2018

Working Capital Loans from Indian Overseas Bank

421614 31-Mar-2018 4,21,614

03/04/2018

Total 1,27,93,54,106

55,95,16,513

32,69,310

Note - 15 b Trade Payables

- Due to Micro, Small and Medium Enterprises

-

-

-

- Due to others 51,19,54,854

42,57,60,120

38,91,44,185

51,19,54,854

42,57,60,120

38,91,44,185

Note - 15 cOther Financial liabilities

Term Loans from Banks [ Refer Note 13a E]Secured - Rupee Loans

Current maturities of long-term debt- From Banks 1,79,94,74,795

1,15,62,23,694

64,09,28,385

Interest to Bank (Provision)

1,82,60,92,671

97,74,14,159

28,12,64,657

3,62,55,67,466

2,13,36,37,853

92,21,93,042

Note - 16Other current liabilities(a) Customers' Advances 8,45,52,345 4,92,09,586 7,04,21,382(b) Other liabilities 8,56,58,695 5,31,17,050 1,01,86,337(c) Government Grant -

Deferred Income [ Refer Note 14(i) and 18(C)(iii) ]

1,50,000 1,50,000 1,50,000

17,03,61,040

10,24,76,636

8,07,57,719

Particulars of Loans Amount of continuing default as on March 31, 2018 ( in ` )

Particulars of Loans Faclity Recalled Amount as on March 31, 2018

Date of Recall




137

As atMarch 31, 2018

As atMarch 31, 2017

As atMarch 31, 2016


NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T


Note - 17Provisions -

i) Provision for Gratuity 5,55,79,649 5,33,28,581 3,99,92,015

ii) Provision for Leave Incashment

2,13,13,680

1,95,49,944

2,00,24,279

iii) Provision for Bonus 72,45,726

48,87,177

44,05,381

v) Excise Duty Provision -

47,28,056

1,93,08,216

8,41,39,055

8,24,93,758

8,37,29,891

The Company contributes to the following post-employment defined benefit plans in India.

A

B Defined Benefit Plan:

a) Gratuity

b) Leave Obligations



5,56,95,287

5,34,37,034

Fair value of plan assets 1,15,638

1,08,453

Net defined benefit (obligation)/assets

5,55,79,649 5,33,28,581

Non-currentCurrent [ Refer Note 17 (i) ] 5,55,79,649

5,33,28,581

B. Movement in net defined benefit (asset) liability

The leave obligations cover the Company's liability for earned leave. The amount of the provision is presented as current, since the Company does not have an unconditional right to defer settlement for any of these obligations. However, based on past experience, the Company does not expect all employees to take the full amount of accrued leave or require payment within the next 12 months.Based on the actuarial valuation obtained in this respect, the following table sets out the status of the gratuity plan and the amounts recognised in the Company’s financial statements as at balance sheet date:

The following table shows a reconciliation from the opening balances to the closing balances for net defined benefit (asset) liability and its components

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement / termination / resignation is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number completed years of service. The gratuity plan is a funded plan and Company makes annual contributions to the Group Gratuity cum Life Assurance Schemes administered by the SBI Life, a funded defined benefit plan for qualifying employees.The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31, 2018. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

Defined Contribution Plans:The Company has certain defined contribution plans. Contributions are made to provident fund in India for employees at the specified rate as per regulations. The contributions are made to registered provident fund administered by the Government of India. The obligation of the Company is limited to the amount contributed and it Company has no further contractual, nor any constructive obligation. The Company has recognised Rs. 1,48,24,523 [FY 2016-2017 Rs. 1,38,87,803] towards contribution to Provident Fund and Rs. 33,53,657[FY 2016-2017 Rs. 9,70,472] towards Employee State Insurance in Profit and Loss account.


138


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

As atMarch 31, 2018

As atMarch 31, 2017

As atMarch 31, 2016




Opening balance 5,34,37,034 3,98,34,859 Included in profit or loss

Current service cost 30,66,066 50,28,737 Past service cost 38,30,147 30,28,776 Interest cost (income) 58,41,554 -

6,61,74,801 4,78,92,372 Included in OCIRemeasurement loss (gain):Actuarial loss (gain) due to :Demographic assumptionsFinancial assumptions (4,85,164)

6,75,049

Experience adjustment (58,29,826)

1,07,00,361

Return on plan assets excluding interest income

1,177 1,086

5,98,60,988 5,92,68,868

OtherContributions paid by the employer

(41,65,701) (58,31,834)

Benefits paidClosing balance 5,56,95,287 5,34,37,034

Opening balance 1,08,453 1,01,425 Included in profit or loss

Interest income 8,362 8,114 1,16,815 1,09,539

Included in OCIRemeasurement gain (loss):Actuarial gain (loss) due to :Demographic assumptionsFinancial assumptions

Experience adjustment


(1,177) (1,086)

1,15,638 1,08,453


Fair value of plan asset



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OtherContributions paid by the employerBenefits paidClosing balance 1,15,638 1,08,453

Represented by

Net defined benefit asset - - Net defined benefit liability 5,55,79,649 5,33,28,581

5,55,79,649 5,33,28,581

Expense recognised inStatement of Profit andLossCurrent service cost 30,66,066 50,28,737 Net Interest cost 41,21,123 30,28,776 Past Services Cost 55,50,578

Expense recognised in Statement of Profit and Loss

1,27,37,767 80,57,513

Expense recognised inOther ComprehensiveIncome (OCI)

Actuarial (gain)/loss onobligation for the period

(63,14,990) 1,13,75,410


1,177 1,086

Net (Income)/ Expense for the period recognized in OCI [ Refer Note 28 A (I) (i)]

(63,13,813) 1,13,76,496

C. Defined benefit obligations

i. Actuarial

Particulars March 31, 2018 March 31, 2017Discount rate 7.87% 7.71%Salary escalation rate 7.00% 7.00%Rate of return on plan assets

7.87% 7.71%

Retirement Age 58 Year 58 Years & 60 Years

Attrition Rate

Mortality Rate

1.00%

Indian Assured Lives Mortality (2006-08)

The following were the principal actuarial assumptions at the reporting

- -

1.00%


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ii. Sensitivity analysis

Increase Decrease Increase Decrease Discount rate (1% movement)

(28,85,463) 33,37,263 (22,19,723) 25,49,094

Future salary growth (1% movement)

33,71,088 (29,60,552) 25,70,466 (22,74,561)

Employee Turnover (1% movement)

5,27,188 (6,24,055) 3,98,887 (4,57,907)

Life Expectancy

iii) Expected Contibutions in next yearMarch 31, 2018 March 31, 2017

INR INRGratuity 85,27,207 38,30,147 Provident Fund 1,64,68,414 1,14,48,227

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below.

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.

March 31, 2018 March 31, 2017

Assumptions regarding future mortality have been based on published statistics and mortality tables. The current longevities underlying the values of the defined benefit obligation at the reporting date were as follows :



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Note - 18Revenue from operations

A Sales of products ( including excise duty) 2,16,55,00,867 2,38,81,90,086 B Sale of Services

Processing charges received 25,53,317 - C Other Operating revenue

(i) Export Incentive 6,41,756 2,18,394 (ii) Vat/CST/Entry tax- Refund /Remission 22,59,923 29,68,136 (iii) Government Grant 1,50,000 1,50,000

2,17,11,05,863 2,39,15,26,616 Note - 19Other Income

A Interest Income (at amortised cost)- On Fixed Deposits 25,58,662 34,80,981

B Other Non-Operating Income - Other Receipts 1,33,68,011 2,44,49,644

1,59,26,673 2,79,30,625 Note - 20

Cost of Materials Consumeda) Raw Material Opening Inventory 17,01,01,436 27,64,27,631 Add: Purchases (net) 71,82,61,470 69,76,95,479 Less: Inventory at the end of the year 17,57,63,153 17,01,01,436

71,25,99,753 80,40,21,674 Note - 21Purchases of Stock-in-Trade 66,55,53,233 72,97,25,682 Note - 22Changes in inventories of Finished goods, Work-in-progress and Stock in Trade

Finished goods Opening Stock 28,04,25,739 28,63,08,043 Closing Stock 9,43,79,763 28,04,25,739

18,60,45,976 58,82,304 Note - 23

Salary, Wages and Bonus 18,52,00,687 17,55,41,301 Contribution to Provident and Other Funds 1,81,78,180 1,50,02,934 Gratuity 1,27,37,767 80,57,513 Other Benefits 23,97,032 79,95,905 Staff Welfare expenses 8,35,830 15,77,230

21,93,49,496 20,81,74,883 Note - 24Finance costs

Interest Expenses 95,83,10,102 84,51,69,057 Other borrowing costs 1,71,16,965 1,25,72,710

97,54,27,067 85,77,41,766 Note - 25Depreciation, amortisation and Impairment Expenses

Depreciation on Plant, property and Equipment 24,24,32,557 24,88,50,547 24,24,32,557 24,88,50,547

(Amount in `) For the year ended

March 31, 2017 Particulars For the year ended

March 31, 2018


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Note - 26Other Expenses

Manufacturing ExpensesMiscellaneous Manufacturing expenses 1,94,69,170 2,65,86,017 Excise Duty 2,31,39,467 9,39,81,812 Consumption of Stores & Spares parts 24,77,183 29,13,675 Power & Fuel 11,66,54,597 12,21,15,206 Processing Charges 5,77,17,792 6,95,96,998 Repairs and Maintainence - Plant & Machinery 1,33,72,605 1,65,18,865 - Buildings 97,820 58,782

23,29,28,634 33,17,71,355 Selling and distribution expensesFreight & forwarding 18,33,25,374 6,00,88,468 Commission & rebate 28,55,885 32,65,579 Travelling & conveyance 7,94,05,752 9,32,41,322

21,81,316 32,60,794 24,83,693 47,70,123

27,02,52,020 16,46,26,286 Establishment and Other expensesRates & Taxes 1,09,877 8,28,28,938 Insurance (net of recoveries) 47,07,304 44,80,130 Payment to Auditors [Refer Note I below] 2,63,068 3,00,700 Rent 41,29,602 56,38,769 Postage, Telegram & Telephone 48,19,212 82,44,167 Legal and Professional expenses 2,70,05,151 2,72,48,333 Directors' Remuneration 15,00,000 60,00,000

Fair value adjustments for Investments (net) 2,78,65,037 5,57,30,075

- 2,25,697 Bad debts written off - 15,26,36,311 Provision for Bad Debts 53,87,364 (2,95,71,164) Other expenses 1,91,56,976 2,77,75,319

9,49,43,591 34,15,37,275 59,81,24,245 83,79,34,915

Note:(I) Payment to Auditors:-

(a) As Auditors

-For Statuory Audit 309868 300700

[Inclusive of service tax Rs. 46800 [FY 2016-17 Rs. 37961]

(b) Travelling and other out of pocket expenses - -

(ii) Remuneration to Cost AuditorsFor Cost Audit [Inclusive of service tax Rs.11825 [FY 2016-17 Rs.15080 ] 82700 115650

Note - 27Exceptional Items

a) Impairment Loss on Investment in subsidiary - 10,00,000 - 10,00,000

(i) Remuneration to the Statutory auditors

Net Loss on foreign currency transaction/translation

Miscelleneous selling and distribution expensesAdvertisement & Business Promotion


(Amount in `) For the year ended

March 31, 2017 Particulars For the year ended

March 31, 2018


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Note - 28(A) Other Comprehensive IncomeI

(i) Remeasurement of the defined benefit plans 63,13,813 (1,13,76,496) (ii) Equity Instruments through Other

Comprehensive Income (50,76,300) 45,65,300

12,37,513 (68,11,196)

(17,44,177) 37,61,410

(5,06,665) (30,49,786) II -

#

Income tax relating to items that will not be reclassified to profit or loss

Item that will be reclassified to profit or loss

Item that will not be reclassified to profit or loss [ Refer Note 12 H]

Note - 29Contingent liabilities and commitmentsA Contingent liabilities

PARENTERAL DRUGS (INDIA) LIMITED a) Claims against the Company not acknowledged as debts ( to the extent

not provided) Certain show-causes notices adjudicated by the Central Excise Department. the challenged demand under the notices which is pending before H'ble CESTAT.

2,74,40,281 2,74,40,281

Show cause notices issued by Excise Department, which are quashed by H'ble High Court of Indore. Deparment has preferred an appeal in the H'ble Suprem Court which is pending.

18,49,13,338 18,49,13,338

Five Income Tax demands were raised by Assessing Officer, which are not admitted and rectification/appeals are pending before the approprate authorities.

97,24,99,093 97,24,99,093

One demand for sales tax were raised by Commercial Tax Officer, for which the Company has filed appeal before Deputy Commissioner (Appeal), Jaladhar.

68,57,081 3,86,974

One demand under DPCO Act for which the Company has filed writ petion in theHigh Court of M.P. and demand is stayed by the H'ble High Court.

19,30,880 19,30,880

One demand of Electric Department for which the Company has filed writ petion in the High Court of M.P. and demand is stayed by the H'ble High Court.

80,97,988 80,97,988

Three months demand of Electricity board(MPPKVV CL ) for which were not admitted as payable due to suurrender of the connection of Indore plant and for which Company has filed a case in High Court of M.P. and case is pending.

26,81,385 26,81,385


Eight group companies have offered collateral securities (1) by mortgage of two companies immovable properties and (2) by pledge of sharesby six company in favour of the Company against credit facilities and corporate loan by Bank. Amount involved was uncertain. Corporate Guarantee given to one group company 12,79,00,000 12,79,00,000 Sacrifice of lenders under approved CDR scheme 2,81,24,047 2,81,24,047

(Amount in `)



Particulars IND AS Financials


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- -

ii) Other commitments - - INFUTEC HEALTHCARE LIMITED

a) Claims against the Company not acknowledged as debts ( to the extent not provided)

- -

(i) Demands of income tax is received for which the Company has filed appeal/rectification with appropate authority.

3,71,19,770 3,71,19,770

(ii) Demands of sales tax is received for which the Company has filed appeal/rectification with appropate authority.

2,27,308 -

(iii) One demand raised by general stamp office, mumbai toward share issued at the time of amalgamation aginst which we already filed appeal to appropate authority.

45,23,675 45,23,675


Outstanding corporate gurantees given on behalf of counter guarantee given to Mahaganpati Investment Private Limited 29,00,00,000 29,00,00,000


- -

ii) Other commitments - - Note - 30 Subsequent Events

Note - 31

(a) Loans & Advance in the nature of loans to Subsidiaries - (b) Loans & Advance in the nature of loans to Associates -

(c) Loans and advances in the nature of loans to Fims/Companies in which directors are interested 5,01,34,636

-

Note - 32

i. Investment made/Guarantees/Securities givenCorporate Guarantee given to one group company to the tune of Rs. 127,900,000 by Prenteral Drugs (India) Limited

ii. Details of Loans and advances given to parties covered under section 186 of the Companies Act 2013

Note - 33 Segment ReportingThe Company is principally engaged in the business of pharmaceutical. Accordingly there are no segments as per Ind AS 108- "Operating Segment.

There are no significant subsequent events that would require adjustments or disclosures in the financial statements as on the balance sheet date.

The above loans and advances given are classified under respective heads. The loans and advances were taken for meeting out their working capital requirements.

Disclosures pursuant to regulation 34(3) and 53(f) of schedule V of the SEBI ( Listing obligations and disclosure requirments) Regulations, 2015

(d) Investment by the loanee in the shares of the company, when the Company has made a loan or advance in the nature of loan

Details of Loans given, investment made and guarantee given under section 186(4) of the Companies Act, 2013

2017-18 2016-17Parenteral Surgical Limited 5,01,34,636 4,90,15,167

5,01,34,636 4,90,15,167

Particulars Loan and Advances Given Balance



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Note - 34Related party relationships, transactions and balances

(A)

(i)

(a) Name of RelationMANOHARLAL GUPTA Managing DirectorVINOD GUPTA Whole-time DirectorGOVIND DAS GARG Whole-time DirectorANIL MITTAL Whole-time Director

(b) Name of the close members

Relation

Lalit Mittal Brother of Whole-time Director

(ii)(a)

NIL(iii)

NIL

(iv)NIL

(v)

NIL(vi)

ANIL MITTAL PRIYANJALI EDUCATION PRIVATE LIMITED

(vii)

ANITAS EXPORTS PRIVATE LIMITED

PARENTERAL SURGICAL LIMITED

Details of Related Party Transactions with whom transactions conducted during the year:(B)(i) Person or a close members has control or joint control, significant influence on the reporting entity or is member of KMP in

reporting entity

One entity is a joint venture of a third entity and the other entity is an associate of the third entity

The entity is a post employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity.

The entity is controlled or jointly controlled by a person identified in (i)Name of


MAHAGANPATI INVESTMENT PRIVATE LIMITED

As per Ind AS-24, the disclosure of transactions with related parties are given below :List of related parties where control exists with whom transactions have taken place and relationships.

Person or a close members has control or joint control, significant influence on the reporting entity or is member of KMP in reporting entity

One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member)

Both entities are joint ventures of the same third party

Particulars Mr. Manohar Lal Gupta

Mr. Vinod Kumar Gupta

Mr.Govind das Garg

Mr.Anil Mittal Total Mr.Lalit Mittal

Total

EXPENSES: Remuneration Including Perks

3,75,000

3,75,000

3,75,000

3,75,000

15,00,000

24,07,000

24,07,000

(15,00,000)

(15,00,000)

(15,00,000)

(15,00,000)

(60,00,000) (24,07,000)

(24,07,000)

AMOUNT PAYABLE

Remuneration 9,18,738 8,48,906 9,47,408 7,09,485 34,24,537 (6,13,362) (6,53,322) (6,30,032) (4,96,757) (23,93,473)

unsecured loan taken 4,74,114 56,640 5,30,754

(4,74,114) (56,640) (5,30,754)

Close Member Persons


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Particulars Priyanjali Education Pvt. Ltd.

Total

Unsecured loan taken -17,000 -17,000

-

-

AMOUNT PAYABLE

unsecured loan taken 49,83,000

49,83,000

(50,00,000)

(50,00,000)

(Vii)

Particulars Mahaganpati Investment Private Limited

Anitas Exports Private Limited

Parenteral Surgical Limited

Total

REVENUE Sale of goods -

-

-

-

-

(6,27,921)

-

(6,27,921)

EXPENSES Purchase of goods -

12,23,984

-

12,23,984

-

(49,08,622)

-

(49,08,622)

LOAN GIVEN -2,000 -

11,19,469

11,17,469

-

-

(3,56,103)

(3,56,103)

LOAN TAKEN 5,85,574

-

-

5,85,574

(2,98,97,239)

-

-

(2,98,97,239)

AMOUNT RECEIVABLE Loan and Advances 57,83,677

-

5,01,34,636

5,59,18,313

(57,85,677)

-

(4,90,15,167)

(5,48,00,844)

Trade Receivable -

56,70,00,000

-

56,70,00,000

-

(56,70,00,000)

-

(56,70,00,000)

Advance to Suppliers 1,18,35,157

-

1,18,35,157

-

-

-

AMOUNT PAYABLE

unsecured loan taken 29,60,06,802 - - 29,60,06,802

(295420928) - - (29,54,20,928)


The entity is controlled or jointly controlled by a person identified in A (i)



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Note - 35Earnings per share (EPS)

i. Profit attributable to Equity holders (Amount in `)


Profit /(Loss) after tax attributable to equity holders (1,18,94,22,631) (1,17,82,99,377)

Profit/(Loss) attributable to equity holders of the for basic earnings (1,18,94,22,631) (1,17,82,99,377)

Expenses directly charged to Reserves

Profit/(Loss) attributable to equity holders After Exceptional Items (1,18,94,22,631) (1,17,82,99,377)- Less : Exceptional Items - 10,00,000

Profit/(Loss) attributable to equity holders before Exceptional Items (1,18,94,22,631) (1,17,72,99,377)

ii. Weighted average number of ordinary sharesMarch 31, 2018 March 31, 2017

Opening ordinary shares [Refer Note a of SOCIE] 2,98,16,300 2,98,16,300 Weighted Average Effect of Shares issued under Employee Stock option during the yearWeighted average number of shares for Dilutive EPS 2,98,16,300 2,98,16,300 Basic and Diluted earnings per share before Exceptional Items


Basic earnings per share ( in Rs.) (39.89) (39.49)Diluted earnings per share ( in Rs.) (39.89) (39.49)Basic and Diluted earnings per share After Exceptional Items


Basic earnings per share ( in Rs.) (39.89) (39.52)Diluted earnings per share ( in Rs.) (39.89) (39.52)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average number of Equity shares outstanding during the year.Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

- -

- -


148


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(ii)

Part

icul

ars

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cts o

f off

sett

ing

on th

e ba

lanc

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ted

amou

nts n

ot o

ffse

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The

Com

pany

has

take

n bo

rrow

ings

by

prov

idin

g cu

rren

t fin

anci

al a

sset

s as s

ecur

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the

bank

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he p

urpo

se o

f offs

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g fin

anci

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sset

s aga

inst

fina

ncia

l lia

bilit

ies a

s men

tion

abov

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refe

ranc

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off i

s to

be g

iven

to b

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oth

er fi

nanc

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iabi

litie

s.

Cons

olid

ated

Not

es fo

rmin

g pa

rt o

f fin

anci

al s

tate

men

tsN

ote

- 37

Fina

ncia

l ins

trum

ents

– F

air v

alue

s an

d ri

sk m

anag

emen

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A. A

ccou

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ficat

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and

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val

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follo

win

g ta

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show

s th

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mou

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and

fair

valu

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f fin

anci

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d fin

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al li

abili

ties,

incl

udin

g th

eir l

evel

s in

the

fair

valu

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chy.

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oes

not i

nclu

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ir va

lue

info

rmat

ion

for f

inan

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ass

ets

and

finan

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liab

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the

carr

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am

ount

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fair

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es to

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al S

tate

men

t for

the

year

end

ed M

arch

31,

201

8

150


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

(Am

ount

in `

)

(i) M

arch

31,

201

8N

ote

No.

FVTP

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l Fai

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ass

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(i) In

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8


151

NO

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INA

NC

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tate

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t for

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year

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ed M

arch

31,

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8

152


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

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T

(ii) M

arch

31,

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7(A

mou

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)N

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ass

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l ass

ets

(i) In

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ts 5

(a)

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51

,76,

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5

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(ii

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ns 5

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3

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26

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nanc

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l 3: i

nput

s fo

r the

ass

et o

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bilit

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at a

re n

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on

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solid

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tate

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t for

the

year

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8


153(iii)

Apr

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6(A

mou

nt `

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ass

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l ass

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(i) In

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ts 5

(a)

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(ii) L

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5(b

)

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4,2

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(c)

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12

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(a)

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76

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7

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(iii)

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)

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2,56

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-

(v

) Loa

ns 9

(d)

-

5

,77,

61,3

81

5

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81

-

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000

6,1

1,00

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91,

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91,

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3

6,1

1,00

0

-

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6,1

1,00

0

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

Note - 38Financial instruments – Fair values and risk managementFinancial risk managementThe Company has exposure to the following risks arising from financial instruments:(i) Market risk (a) Currency risk; (b) Interest rate risk; (c) Equity Risk;(ii) Credit risk ; and(iii) Liquidity risk ;

Market risk

Currency risk

Exposure to currency riskThe summary quantitative data about the Company's exposure to currency risk as reported by the management of the Company is as follows:

Market risk is the risk of changes the market prices on account of foreign exchange rates and interest rates , which shall affect the Company's income or the value of its holdings of its financial instruments . The objective of market risk management is to manage and control market risk exposure within acceptable parameters, while optimising the returns.

The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit and loss account, where any transaction has more than one currency or where assets/liabilities are denominated in a currency other than the functional currency of the entity.Considering the countries and economic environment in which the Company operates, its operations are subject to risks arising from fluctuations in exchange rates in those countries. The risks primarily relate to fluctuations in U.S. dollar,against the respective functional currencies ( INR).

The Company, as per its risk management policy, uses foreign exchange and other derivative instruments primarily to hedge foreign exchange and interest rate exposure. The Company does not use derivative financial instruments for trading or speculative purposes.


(Amount in `)

March 31, 2018 March 31, 2017 April 1, 2016Particulars USD Exposure in INR USD Exposure in INR USD Exposure INR

Receivable net exposureTrade receivables 53,88,021 Net statement of financial position exposure - - 53,88,021 Forward exchange contracts against exports - - - Receivable net exposure - - 53,88,021

Payable net exposureBorrowings - - - Trade payables and other financial liabilities - - 4,13,05,682

- - 4,13,05,682

Forward exchange contracts against imports and foreign currency payables

- - 2,05,36,610

Currency option contracts - - - Payable net exposure - - 2,07,69,072 Total net exposure on Receviables /(Payables) - - (1,53,81,051)

Statement of financial position exposure


Risk management frameworkThe Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company’s primary risk management focus is to minimize potential adverse effects of risks on its financial performance. The Company’s risk management assessment policies and processes are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment and management these policies and processes are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Board of Directors and the Audit Committee are responsible for overseeing these policies and processes.

154


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

i(b) Interest rate risk

Interest rate sensitivity - fixed rate instruments

Interest rate sensitivity - variable rate instruments

(Amount in `)A. March 31, 2018

Particulars 100 bp increase 100 bp decrease 100 bp increase 100 bp decrease

On account of Variable Rate Borrowingsfrom Banks (increase/decrease)

(7,68,64,200) 7,68,64,200 (7,68,64,200) 7,68,64,200

Sensitivity (7,68,64,200) 7,68,64,200 (7,68,64,200) 7,68,64,200 B. March 31, 2017

ParticularsOn account of Variable Rate Borrowingsfrom Banks (increase/decrease)

(6,90,43,893) 6,90,43,893 (6,90,43,893) 6,90,43,893

Sensitivity (6,90,43,893) 6,90,43,893 (6,90,43,893) 6,90,43,893

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to market risk for changes in interest rates relates to borrowings from financial institutions.For details of the Company’s short-term and long term loans and borrowings, Refer Note 13(a), 15 (a) and 15(c) of these financial statements.

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased/(decreased)equity and statement of profit or loss by amounts shown below. This analysis assumes that all other variables, in particular, foreign currency exchange rates, remain constant. This calculation also assumes that the change occurs at the balance sheet date and has been calculated based on risk exposures outstanding as at that date. The period end balances are not necessarily representative of the average debt outstanding during the period.

Impact on Profit/(loss) before tax Direct impact on Equity

The Company's fixed rate borrowings Preference Shares issued to Mahaganpati Investment Private Limited,Pdpl Holding Private Limited & Anitas Exports Private Limited @ 0% and Invetsments into Preference Shares of Infutec Healthcae Limited@ 0% are carried at amortised cost. They are therefore not subject to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flow will fluctuate because of a change in market interest rates.

i(d) Equity riskEquity Price Risk is related to the change in market reference price of the investments in equity securities. The fair value of some of the Company’s investments in Fair value through Other Comprehensive Income securities exposes the Company to equity price risks. In general, these securities are not held for trading purposes. These investments are subject to changes in the market price of securities. The fair value of equity securities as of March 31, 2018, was `Nil due to sale of Securities[ FY 2016-2017 51,94,000 ] . A sensex standard deviation of 5% [ FY 2016-2017 6% ] would result in change in equity prices of securities held as of March 31, 2018 by ̀ Nil.[ FY 2016-2017 3,11,640 ]


(ii) Credit Risk

A. Trade and other receivables

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Company’s receivables from customer. The Company establishes an allowance for doubtful debts and impairment that represents its estimate on expected loss model .

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the customer, including the default risk of the industry has an influence on credit risk assessment. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

Notes to Consolidated Financial Statement for the year ended March 31, 2018Sensitivity analysisA 1% strenghtening / weakening of the respective foreign currencies with respect to functional currency of Company would result in increase or decrease in profit or loss as shown in table below.The following analysis has been worked out based on the exposures as of the date of statements of financial position.

Effect in Indian Rupees Strengthening Weakening Strengthening Weakening Strengthening Weakening

USD - - - - (1,53,811) 1,53,811

Profit/(Loss) March 31, 2017 Reserves April 1, 2016Profit/(Loss) March 31, 2018


155

NO

TES TO

CO

NSO

LIDATE

D F

INA

NC

IAL STA

TEM

EN

T

(Amount in `)Particulars As at March 31,

2018As at March 31,

2017As at April 1, 2016

Neither past due nor impairedPast due but not impairedPast due 0–90 days 34,28,777 20,11,127 - Past due 91–180 days 2,03,962 - 40,94,998 Past due more then 180 days 69,11,75,338 69,67,00,058 84,74,78,819

69,48,08,077 69,87,11,185 85,15,73,817

(Amount in `)March 31, 2018

Balance as at April 1, 2017 12,68,68,230 Impairment loss recognised 53,87,364 Amounts written offBalance as at March 31, 2018 13,22,55,594

March 31, 2017Balance as at April 1, 2016 37,88,88,919 Impairment loss recognised (2,95,71,164) Amounts written off 22,24,49,525 Balance as at March 31, 2017 12,68,68,230

April 1, 2016Balance as at April 1, 2015 22,24,49,525 Impairment loss recognised 15,64,39,394 Amounts written off - Balance as at March 31, 2016 37,88,88,919

B. Cash and cash equivalents

C. Investments

Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to determine expected credit losses. Historical trends of impairment of trade receivables do not reflect any significant credit losses. Impaired amounts are based on lifetime expected losses based on the best estimate of the management. Further, management believes that the unimpaired amounts that are past due by more than 180 days are still collectible in full, based on historical payment behaviour and extensive analysis of customer credit risk. The impairment loss related to several customers that have defaulted on their payments to the Company and are not expected to be able to pay their outstanding balances, mainly due to economic circumstances.

The Company holds cash and cash equivalents with credit worthy banks and financial institustions of Rs.764,247 as at March 31, 2018 [FY 2016-2017 Rs. 36,08,916 and April 1, 2016 is Rs. 84,29,741 ].The credit worthiness of such banks and financial institutions is evaluated by the management on an ongoing basis and is considered to be good.

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counter-parties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties apart from those already given in financials, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

Summary of the Company's exposure to credit risk by age of the outstanding from various customers is as follows:

Expected credit loss assessment for customers as at March 31, 2018 ,March 31, 2017 and April 1, 2016

The movement in the allowance for impairment in respect of trade and other receivables during the year was as follows.


Financial instruments – Fair values and risk management

(iii) Liquidity riskLiquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risk to the Company’s reputation. The Group has obtained fund and non-fund based working capital lines from State Bank of India,Punjab national Bank & Indian Overseas Bank. The Company also constantly monitors various funding options available in the debt and capital markets with a view to maintaining financial flexibility but Holding company bank account of state Bank of India & Punjab National Bank were become sub standard due to crisess of working capitalfund and continues losses.


156


NO

TES

TO C

ON

SOLI

DATE

D F

INA

NC

IAL

STATE

MEN

T

Exposure to liquidity risk

Carrying amount

A As at March 31, 2018 Total 1 year or less 1-2 years 2-5 years More than 5 years

(i) Non-derivative financial liabilities

Secured term loans and borrowings

7,68,64,20,039 7,68,64,20,039 5,15,91,77,039 1,56,14,78,000 96,57,65,000


55,91,08,751 55,91,08,751 25,38,13,576 30,52,95,175

Redemable preference shares

4,33,84,78,712 4,33,84,78,712 4,33,84,78,712

Trade payables 51,19,54,854 51,19,54,854 51,19,54,854

Carrying amount

B As at March 31, 2017 Total 1 year or less 1-2 years 2-5 years More than 5 years



6,90,43,89,293 6,90,43,89,293 3,67,53,03,686 1,40,66,47,000 1,82,24,38,607


56,78,36,249 56,78,36,249 26,31,09,950 30,47,26,299


5,03,16,82,175 5,03,16,82,175 5,03,16,82,175

Trade payables 42,57,60,120

42,57,60,120 42,57,60,120

Carrying amount

C As at April 1, 2016 Total 1 year or less 1-2 years 2-5 years More than 5 years



6,23,83,34,605 6,23,83,34,605 2,49,35,09,605 1,19,36,82,000 2,55,11,43,000 -


56,39,53,288 56,39,53,288 22,93,44,750 33,46,08,538


5,52,65,10,137 5,52,65,10,137 5,52,65,10,137

Trade payables 38,91,44,185 38,91,44,185 38,91,44,185


The table below analyses the Company's financial liabilities into relevant maturity groupings based on their contractual maturities for: * all non derivative financial liabilities* net and gross settled derivative financial instruments for which the contractual maturites are essential for the understanding of the timing of the cash flows.

(Amount in `)Contractual cash flows



Note - 39Capital ManagementThe Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Management monitors the return on capital as well as the level of dividends to ordinary shareholders.The Company monitors capital using a ratio of ‘adjusted net debt’ to ‘adjusted equity’. For this purpose, adjusted net debt is defined as total liabilities, comprising interest-bearing loans and borrowings and obligations under finance leases, less cash and cash equivalents. Equity comprises of Equity share capital and other equity.



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(Amount in `)A. Particulars As at March 31, 2018 As at March 31,

2017As at April 1, 2016

Total liabilities 9,49,76,55,725 8,69,64,87,443 7,97,08,19,718 Less : Cash and cash equivalent 7,64,247 36,08,916 84,29,741 Adjusted net debt 9,49,84,19,972 8,70,00,96,359 7,97,92,49,459 Total equity (1,36,43,73,880) (17,44,44,584) 1,00,59,01,142 Adjusted equity (1,36,43,73,880) (17,44,44,584) 1,00,59,01,142 Adjusted net debt to adjusted equity ratio -ve -ve 7.93

B. DividendsDue to Contineous Loss incurred company has not proposed any Dividend.

The Company’s policy is to keep the ratio below 2.00. The Company’s adjusted net debt to equity ratio was as follows.


Note -40Transition to Ind AS:

A. EXEMPTIONS AND EXCEPTIONS AVAILED

I. Ind AS Exemptions :

For the purposes of reporting as set out in Note 1 and 2 , we have transitioned our basis of accounting from Indian generally accepted accounting principles (“IGAAP”) to Ind AS. The accounting policies set out in Note 1 and 2 have been applied in preparing the financial statements for the year ended March 31, 2018. The comparative information presented in these financial statements for the year ended March 31, 2017 and in the preparation of an opening Ind AS balance sheet at April 1, 2016 (the “transition date”).In preparing our opening Ind AS balance sheet, we have made certain adjustments to amounts reported in financial statements prepared in accordance with IGAAP. An explanation of how the transition from IGAAP to Ind AS has affected our financial position and performance is set out in the following tables. On transition, we did not revise estimates previously made under IGAAP except where required by Ind AS.

(i). Business combination exemption: The Group has applied the exemption as provided in Ind AS-101 for non-application of Ind AS 103, “Business Combinations” to business combinations consummated prior to the date of transition (April 1, 2016).

(ii). Property, plant and equipment exemption: On Transition to Ind AS as on April 1, 2016 the Company has elected to measure its property plant & equipment at cost as per Ind AS.This is considered as to be deemed cost as at April 1, 2016.

(iii). Derecognition of financial assets and financial liabilities: The Group has opted to apply the exemption available under Ind AS 101 to apply the derecognition criteria of Ind AS 109 prospectively for the transactions occurring on or after the date of transition to Ind AS.

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from Indian GAAP to Ind AS :


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II. Ind AS mandatory exceptions

(Amount in `)B.(i)(a) RECONCILIATION FOR MARCH 31, 2017

Notes Amount as per IGAAP

Effects of transition to Ind AS


ASSETSNon-current assets(a) Property, Plant and Equipment 3 7,38,65,55,830

-

7,38,65,55,830

(b) Intangible assets 4 1,28,70,65,160

(1,28,70,65,160)

-

(c) Financial Assets 5 (i) Investments 5(a) 1,76,800

50,09,500

51,86,300

(ii) Loans 5(b) 3,68,97,426

-

3,68,97,426

(iii) Others 5(c) 6,11,367

6,11,367


(6,11,366)

7,33,02,776


35,84,66,817

41,78,15,030

Total non current assets 8,84,39,57,571

(92,35,88,842)

7,92,03,68,729

Current Assets(a) Inventories 8 45,05,27,175 -

45,05,27,175



62,33,34,590


36,08,916

(iv) Bank balances other than (iii) above

9(c) 2,86,55,578 -

2,86,55,578

(v) Loans 9(d) 5,69,46,005 (15,25,000)

5,54,21,005

(c) Other Current assets 10 5,39,69,432 15,25,000

5,54,94,432


(12,68,68,229)

1,21,70,41,696

TOTAL ASSETS 10,18,78,67,496

(1,05,04,57,071)

9,13,74,10,425


(17,88,78,980)

29,81,63,000

(b) Other equity 12 1,62,57,31,950

(2,09,83,39,534)

(47,26,07,584)


(2,27,72,18,514)

(17,44,44,584)

Minority Interest 65,04,728

(36,67,674)

28,37,054

Estimates : An entity's estimates in accordance with Ind ASs at the date of transition to Ind AS are consitent with estimates made for the same date in accordance with previous GAAP.


LIABILITIESNon current liabilities(a) Financial liabilities 13 (i) Borrowings 13(a) 3,80,74,20,275

1,22,42,61,900

5,03,16,82,175

(b) Other non-current liabilities 14 -

18,00,000

18,00,000


1,22,60,61,900

5,03,34,82,175

Current liabilities(a) Financial liabilities 15 (i) Borrowings 15(a) 1,53,11,67,415

-

1,53,11,67,415


-

42,57,60,120

(iii) Other financial liabilities 15(c) 2,13,36,37,853

-

2,13,36,37,853


1,49,999

10,24,76,636

(c) Provisions 17 7,82,76,530

42,17,225

8,24,93,758


43,67,224

4,27,55,35,780


(1,05,04,57,067)

9,13,74,10,425



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(Amount in `)B.(i)(b) RECONCILIATION OF PROFIT AND LOSS FOR THE YEAR MARCH 31, 2017




INCOMEI. Revenue from Operations 18

2,29,73,94,804

9,41,31,812

2,39,15,26,616

II. Other income 19

2,79,30,625

-

2,79,30,625

III. Total Income (I+II) 2,32,53,25,429

9,41,31,812

2,41,94,57,241

IV. ExpensesCost of materials consumed 20

80,40,21,674

-

80,40,21,674

Purchase of Traded Goods 21

72,97,25,682

-

72,97,25,682

Changes in inventories of finished goods, work-in-progress and stock-in-trade

22

58,82,304

-

58,82,304

Employee Benefits Expenses 23

21,53,34,157

(71,59,274)

20,81,74,883

Finance costs 24

85,77,41,766

-

85,77,41,766

Depreciation and Amortization Expenses

25

24,88,50,547

-

24,88,50,547

Other Expenses 26

71,77,94,194

12,01,40,721

83,79,34,915

Total Expenses (IV) 3,57,93,50,324

11,29,81,447

3,69,23,31,771

V. Profit/(loss) before Exceptional Items and Tax (III-IV)

(1,25,40,24,895)

(1,88,49,635)

(1,27,28,74,530)

VI. Exceptional Items 27

10,00,000

-

10,00,000

VII. Profit/(loss) before Tax (V-VI) (1,25,50,24,895)

(1,88,49,635)

(1,27,38,74,530)

VIII. Tax expense:1. Current Tax2. Deferred Tax 14 (10,31,40,120) 74,13,567 (9,57,26,553) 3. Adjustment of tax for earlier years 1,51,400 - 1,51,400

IX. Profit/(Loss) after tax for the period (VII-VIII)

(1,15,20,36,175)

(2,62,63,202)

(1,17,82,99,377)

X. (A) Other Comprehensive Income

28

-

(68,11,196) (68,11,196)


-

37,61,411 37,61,411 Tax relating to above items (ii) Items that will be reclassified to statement of profit or lossTax relating to above items XI. Total Comprehensive income for the period

(1,15,20,36,175)

(2,93,12,987)

(1,18,13,49,162)

--


--

--


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(Amount in `)

B(ii). Reconciliation for April 1, 2016




ASSETSNon-current assets(a) Property, plant and equipment 3 7,63,11,38,736

-

7,63,11,38,736

(b) Intangible assets 4 1,28,70,65,160

(1,28,70,65,160)

-

(c) Financial Assets 5 (i) Investments 5(a) 1,76,800

4,44,200

6,21,000

(ii) Loans 5(b) 4,21,86,324

-

4,21,86,324

(iii) Others 5(c) 12,30,229

12,30,229


(12,30,229)

8,46,81,803

(e) Deferred tax lAssets (Net) 7 (4,37,91,907)

36,21,18,974

31,83,27,067

9,00,26,87,144

(92,45,01,986)

8,07,81,85,158

Current assets(a) Inventories 8 56,27,35,674 -

56,27,35,674


-


76,77,33,061


84,29,741

(iv) Bank balances ther than (iii) above

9(c) 3,72,56,548 -

3,72,56,548

(v) Loans 9(d) 5,92,86,381 (15,25,000)

5,77,61,381

(c) Other current assets 10 2,15,13,144 15,25,001

2,30,38,145


(15,64,39,393)

1,45,69,54,550

TOTAL ASSETS 10,61,60,81,087

(1,08,09,41,379)

9,53,51,39,708


(17,88,78,980)

29,81,63,000

(b) Other Equity 12 2,77,67,64,689

(2,06,90,26,547)

70,77,38,142


(2,24,79,05,527)

1,00,59,01,142

Minority Interest 65,04,728

(36,67,675)

28,37,053

Non current liabilities(a) Financial Liabilities 13 -

-

(i) Borrowings 13(a) 4,35,79,78,314

1,16,85,31,827

5,52,65,10,137

(d) Other non-current liabilities 14 -

19,50,000

19,50,000


1,17,04,81,827

5,52,84,60,137

Current liabilities(a) Financial Liabilities 15 -

-

(i) Borrowings 15(a) 1,52,21,16,539

-

1,52,21,16,539


-

38,91,44,185

(iii) Other financial liabilities 15(c) 92,21,93,042

-

92,21,93,042


1,50,000

8,07,57,719

(c) Provisions 17 8,37,29,891

-

8,37,29,891


1,50,000

2,99,79,41,376


(1,08,09,41,379)

9,53,51,39,708

C. NOTES ON FIRST TIME ADOPTION:1 Property, Plant & Equipment

2 (a). Investment in Other than subsidiary, associates and Joint Venture

On transition to Ind AS as on April 1, 2016 the Company has elected to measure its Property, Plant & equipment at cost as per Ind AS.

The Group has investment Other than in subsidiary, associates and Joint Venture. These investments have been fair valued on the date of transition with a corresponding unrealised gain/(loss) is recognised in Retained earnings via Other comprehensive income [OCI] as on transition date i.e April 1, 2016 and designated the same at Fair Value through Other Comprehensive Income[FVOCI]. Subsequent gains/(losses) have been charged to Other Comprehensive Income.




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(b). Investment in subsidiary, associates and Joint VentureThe same are measured at Cost after testing for impairment, if any.

3 Trade receivables

4 Deferred Tax

5 Corporate guarantees issued to group companies

6 Excise Duty

7 Employee benefitsBoth under Indian GAAP and Ind-AS, the Group recognised costs related to its post-employment defined benefit plan on an actuarial basis. Under Indian GAAP, the entire cost, including actuarial gains and losses, are charged to profit and loss. Under Ind - AS, remeasurements of defined benefits plans are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through OCI.

The Group measures recovery of debtors on Expected Credit Loss Model.The Group has allowed some customers an extended credit period, the same are recognised at its present value, the corresponding difference between the present value and carrying amount is recognised in retained earnings as on transition date i.e April 1, 2016. The unwinding of discount on account of above upto the date of transition is also recognised in retained earnings.

The Group has recognised deferred tax as per requirements of Ind AS -12 on "Income taxes" and recoginsed a deferred tax liability arising on account of the Ind AS adjustments as on April 1, 2016 to retained earnings.

The Group has provided guarantees to Banks on behalf of the group companies. These financial guarantees have been measured at fair value on the date of Initial recognition with corresponding amount being recognised as unearned guarantee commission. The same has been amortised over the term of the guarantee on a straight line basis.

Under Indian GAAP, the Group used to present Revenue net off excise duty. The incidence of excise duty is on manufacture and not on sales since manufacturer is the primary obligor for the payment of excise duty. Management collects excise duty from its customers in the capacity as principal and not as an agent. As a result, excise duty recovered from customers would form part of revenue, with an corresponding equal amount charged to the statement of Profit and loss.




DIN 00039145


DIN 00520067








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Particulars

1 Name of the Subsidiary Company IHL PIL PBL

2 Financial year of the Subsidiary ended on 31st March, 2018 31st March, 2018 31st March, 2018

3 Currency & Exchange Rate N.A. N.A. N.A.

4 Issued and Subscribed Share Capital 6,76,59,840 5,00,000 25,00,000

5 Reserves -35,59,68,645 NIL 33,04,780

6 Total Assets 1,56,48,24,743 1,00,87,125 58,23,311

7 Total Liabilities 1,85,31,33,548 95,87,125 18,531

8 Investments (except investment in subsidiaries) NIL NIL NIL

9 Turnover 2,11,22,02,063 NIL NIL

10 Profit/(Loss) before taxation (21,84,59,824) NIL (12,217)

11 Provision for Taxation NIL NIL NIL

12 Profit (Loss) After Taxation (22,84,87,511) NIL (12,217)

13 Proposed Dividend NIL NIL NIL

14 % of Share Holding 100% 100% 51%


STATEMENT PURSUANT TO FIRST PROVISO TO SUB -SECTION (3) SECTION 129 READ WITH RULE 5 OF THE COMPANIES (ACCOUNTS) RULES, 2014

AOC-1

(Amount in `)PART A : SUBSIDIARY

Abbreviation stands for:IHL - INFUTEC HEALTHCARE LIMITED (BECAME SUBSIDIARY ON 01.11.2008)PIL - PARENTERAL IMPEX LIMITED (BECAME SUBSIDIARY ON 21.12.2006)

PBL - PARENTERAL BIOTECH LIMITED (BECAME SUBSIDIARY ON 02.03.98)

NOTE : 1. THE COMPANIES PIL AND PBL ARE NOT IN OPERATION.

2. AS THE COMPANY IS HAVING NO ASSOCIATE AND JOINT VENTURE, THEREFORE PART ‘B’ OF FORM AOC – 1 FOR THE STATEMENT PURSUANT TO SECTION 129(3) OF THE COMPANIES ACT,2013 IS NOT APPLICABLE.




DIN 00039145


DIN 00520067







163

PARENTERAL DRUGS (INDIA) LIMITEDREGD. OFFICE: 340, LAXMI PLAZA, LAXMI INDUSTRIAL ESTATE, NEW LINK ROAD, ANDHERI (WEST), MUMBAI-400 053

FORM No. MGT-11Proxy form

[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and Administration) Rules, 2014]

CIN: L24100MH1983PLC126481Name of the company: Parenteral Drugs (India) LimitedRegistered office: 340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai-400 053, Maharashtra

Name of the member(s):

Registered address:

E-mail Id:

Folio No./ Client Id: DP ID:

I/We, being the member(s) of shares of the above named company, hereby appoint

1. Name: E-mail Id:

or failing him,

Signature:Address:

2. Name: E-mail Id:

or failing him,

Signature:Address:

3. Name: E-mail Id:

Signature:Address:

thas my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 34 Annual General Meeting of the company, to thbe held on Saturday, the 29 September, 2018 at 9:30 a.m. at The Classique Club, Behind Infinity Mall, Link Road, Oshiwara, Andheri

(West), Mumbai-400 053 and at any adjournment thereof in respect of such resolutions as are indicated below:

Tick(ü) Resolution No. Resolution

1. a. To consider, approve and adopt the Standalone Financial Statement and reports of the stBoard of Directors and Auditors thereon of the company as on 31 March, 2018.

b. To consider, approve and adopt the Consolidated Financial Statement and Auditors Report stthereon of the company as on 31 March, 2018.

2. To re-appoint Shri Govind Das Garg (DIN:00520067), Whole-Time Director of the company, who is liable to retire by rotation and being eligible offers himself for re-appointment.

3. Authority to enter into contract /arrangement with related parties.

Re-appointment of Shri Vinod Kumar Gupta (DIN: 00039145) as Managing Director of the company.

5. Appointment of Shri Manish Verma (DIN:08168517) as an Independent Professional Director of the company

Signed this day of , 2018

Signature of shareholder Signature of Proxy holder(s)

Note: This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company, not less than 48 hours before the commencement of the Meeting.

Affix Revenue

Stamp

164


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ORM

4.

Venue: The Classique Club, Link Road, Oshiwara, Andheri (West), Mumbai-400 053

Land Mark: Behind Infinity Mall

RO

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GM

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165

NOTES

166


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ENTIONALLY

LFT

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167

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LFT

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168


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