Address:

Address 142 AB, Kandivli Industrial Estate,

Kandivli (West), Mumbai - 400 067, Maharashtra.
Phone +91 (022) 6647 4747
Fax +91 (022) 2868 6954 / 2875
New Administrative & Marketing Division

Address 47-AB, Kandivli Industrial Estate,

Kandivli (West), Mumbai - 400 067, Maharashtra.
Phone +91 (022) 6647 4322

Ipca Laboratories Limited

history
One of the first modern pharma factory of yesteryears was commissioned by Ipca at Mumbai-in-1969.The company was originally

promoted by a group of medical professionals and businessmen and was incorporated as 'The Indian Pharmaceutical Combine

Association-Limited.'in,October-1949. The present management took over in November 1975 when the total turnover of the

companywasjust-Rs.0.54crores. Currently, this premise where Ipca started its operations, houses the Registered Office of the

company. Key departments like International Marketing, R&D (Formulations) and Analytical Development Lab are located here.

Prorfile: Ipca is a fully integrated, rapidly growing Indian pharmaceutical company with a strong thrust on exports. Ipca's

APIs and Formulations produced at worldclass manufacturing facilities are approved by leading drug regulatory authorities including

the US-Food and Drug Administration (FDA), UK-Medicines and Healthcare products Regulatory Agency (MHRA), South Africa-

Medicines Control Council (MCC), Brazil-Brazilian National Health Vigilance Agency (ANVISA) and Australia-Therapeutic Goods

Administration (TGA). With operations in over 100 countries, exports account for over 52% of the company's income. Forbes, a
leading US business magazine, selected Ipca in 2003 among its top 200 successful, rising companies outside USA, with sales under

USD 1 Billion. Over 19,000 companies were considered by Forbes, and of the 18 companies from India that figured in this list, only

four were from the 'Indian Pharmaceutical Sector'. Ipca happens to be one of them. Subsequently, Ipca was selected by FORBES in

this prestigious list for two consecutive years; 2004 and 2005.

From a modest income of Rs. 0.54 crores in 1975-76, the net income has soared to Rs. 753.30 crores in 2005-06 with exports

accounting for Rs. 401.83 crores. The net profit for the year ending 31st March, 2006 stood at Rs. 63.98 crores. Formulations

constitute 67 percent of the total income for 2005-06. Today, Ipca is one of the biggest manufacturers in the world of APIs Atenolol

(Antihypertensive), Chloroquine Phosphate (Antimalarial), Furosemide (Diuretic) and Pyrantel Salts (Anthelmintic) right from the basic

stage. Ipca is also one of the largest suppliers of these APIs and their intermediates world over.

Key person of the company:

CHAIRMAN------------------------------------------------------------- Mr. R. S. Hugar

CEO--------------------------------------------------------------Mr. Premchand Godha

MANAGING DIRECTOR------------------------------------------------Mr. A. K. Jain, Mr. Pranay Godha

BOARD OF DIRECTOR--------- Mr. M. R. Chandurkar, Mr. Babulal Jain, Dr. V. V. Subba Rao, Mr. V. A.
Gore
Last year achievements:

2007

January - Ipca - Ranbaxy Alliance received U.S. FDA marketing approval for Atenolol Tablets

March - Ipca launched eighth domestic marketing division, 'Altus' which caters to intensivists and surgeons.

March - Ipca's New Biotech Research & Development Unit was inaugurated at Mumbai.

June - Ipca - Ranbaxy Alliance received U.S. FDA marketing approval for Hydroxy Chloroquine Sulfate Tablets

July - Ipca - Ranbaxy Alliance received U.S. FDA marketing approval for Hydrochlorothiazide (HCTZ) Tablets.

August - Ipca - Ranbaxy Alliance received U.S. FDA marketing approval for Metformin HCl Tablets.

September - Acquisition of 100% shareholding of Formulation Dossier registration holding companies in Austr
Zealand. The Australian company is currently holding 5 formulation registration dossiers in that country.

October - Ipca has been awarded by Forbes Inc., as one of the 'Best under a Billion' Forbes Global's 200 Best Small Companies, 2
company has received same award for three consecutive years' 2003, 2004 and 2005

PRODUCTS:

Being one of the largest pharmaceutical corporations in India today, Ipca manufactures over 150 formulations representing various

therapeutic-segments-and-dosage-forms. The dosage forms include tablets, capsules, oral liquids, dry powders for suspension, and
injectables-(liquid&dry). Ipca also manufactures formulations for many leading companies in the European Union under supply

agreements. Segment wise classification of products

1) ANTI-ALLERGIC:

Generic Names Brand Name Therapeutic Group Strength Pack Size

Fexofenadine Fexova Tabs. Antiallergic 120 mg, 180 mg Blister of 10's

Levocetirizine Leset Tabs. Antiallergic 5 mg Blister of 10's

Dihydrochloride

Levocetirizine Leset MD Tablets Antiallergic 5mg Foil Strip of 10's

Dihydrochloride Mouth
Dissolving

2) ANTI-EPILEPTIC:
Therapeutic
Generic Names Brand Name Strength Pack Size
Group

Divalproex Sodium Extended Divalrate ER Antiepileptic 125mg/250mg/500mg Foil Strip of

Release Tabs 10's

Levetiracetam Epictal Tabs Antiepileptic 250mg/500mg/750mg Blister of

10's

2-Bromo-6-Methoxy-Naphthalene (2BMN)
4,7-Dichloroquinoline (4,7 DCQ)
2,4-Dichloro-5-Sulphamide Benzoic Acid (Lasamide)
P-Hydroxyls Phenylacetamidem (PHPA)
6-Methoxy-2-Naphthaldehyde (6MNA)
3-Methyl Thiophene-2-Carboxaldehyde (3MeT2A)
4-(2-Methoxyethyl)phenol (MEP)
3,4,5-Trimethoxy Toluene (TMT)
2,3 Dimethoxy-5-Methyl1, 4-Benzoquione (CoQo)
2,3 Dimethoxy-5-Methyl1, 4-Hydroquine (CoQo)
2-Phenyl-2-(Pyridyl) Acetamide
2-Phenyl-2-(2-Piperidyl) Acetic Acid
4-Amino-6-Chloro-1, 3-Benzene
Located at Mumbai, Ipca’s research center is focussed on generics in regulated markets, specifically in Europe

andUSA.The center has expertise in Active Pharmaceutical Ingredients, Drug Intermediates and Formulation

Development which includes NDDS and ANDA.

Ipca’s Research and Development comprises of two sections:

1
Active Pharmaceutical Ingredients and Drug Intermediates
.
2
Formulation Development
.

Both the departments are supported by the Analytical Development cells which are fully equiped with all modern

instruments (like NMR, LC-MSMS, GCMS etc) required to carry out research on day-to-day basis. Units are geared to

continuously innovate and remain competitive by developing/acquiring abilities to find simple and effective solutions to

practical problems, solutions which are free from Patent Infringement issues.

1. Active Pharmaceutical Ingredients/Drug Intermediates:

The Active Pharmaceutical Ingredients/Drug Intermediates Research and Development department at Mumbai is

supported by two more units located at Ratlam and Indore. All the R&D units are recognized by the Department of

Science and Industrial Research, Government of India. Research & Development units at Ratlam and Indore are also

supported by facilities required for scale up of the processes from grams to kilo as well as to Pilot level.

Strengths: Innovative chemistry-driven process research leading to the generation of non-infringing routes for APIs/Drug

Intermediates and Intellectual Property. Ipca has highly qualified and experienced groups of people capable of handling

patent-related issues, which includes various aspects of patenting and patent evaluation.

Impurity Profiling of APIs:

This includes identification and characterization as well as structural elucidation of unknown impurities (present in APIs),
 followed by their synthesis.

Analytical developments:

New method developments.

Method validations for getting products registered in Regulated Markets.

Process Research: Process development/improvements to make products competitive and profitable in the long run by

giving major emphasis on:

Non-infringing processes

Alternative cost effective routes

Increasing plant friendliness.

Improving selectivities/reducing impurity levels by sensitive chemistry inputs.

Reducing effluent generation.

2. Formulation Development :

Our Formulation Development Laboratory located at Mumbai has been gearing up for a state-of-the-art R&D facility (in

line with the US-FDA requirements). The current R&D activities are also approved by the Department of Science and

Technology, Government of India. The laboratory is well equipped with various ultramodern equipments and technologies

required for conducting high quality research activities.

Some of the equipments available in the R&D are:

High Sheer Mixer (GMP model)

Fluid Bed Drier

Fluid Bed Processor

Ganscoata
 Walk-in Stability Chambers

Dissolution Apparatus with intrinsic dissolution assembly

Bilayer Tablet Compression Machine

Equipments for liquid orals and semi-solid

Hard gel capsule facility

Blister packing machine with Alu-Alu facility

Press-cota

Roll compactor

Pelletisation facility

Facility for Effervescent tablets (low RH area)

Reverse laminar flow

The key activities of R&D-Formulations are:

Novel Drug Delivery System (NDDS):

R&D in this area attempts to improve the efficiency with which the medicine is absorbed in the body.
Novel Drug Delivery Systems (NDDS) efforts are directed towards:

Cardiac Care

Antiinfectives

Antidiabetics

Ipca’s R & D laboratory has filed patents across the world for products based on the NDDS. Ipca’s
strength in this segment of R&D puts the company in an excellent position to compete in the growing
markets for generic drugs in Europe and USA.

Abbreviated New Drug Application (ANDA):

The filing of ANDAs received a major boost after Ipca opened its wholly owned subsidiary in New
Jersey, USA. The company will now be working on ANDAs to address the growing opportunity in
USA. Ipca’s research endeavors are well supported by worldclass infrastructure comprising:
Analytical Research

Clinical Research

International Regulatory Affairs

Corporate Quality Assurance

Intellectual Property Cell

Manufacturing of generic products for registration in UK/EU/South Africa/Brazil and many

other countries

Athal (Silvassa-Union Territory of Dadra & Nagar Haveli)

Operational since 1995.
Formulations plant manufacturing tablets and capsules.
ISO 9001 certified.
Facility approved by UK-Medicines and Healthcare products Regulatory
Agency (MHRA), Australia-Therapeutic Goods Administration (TGA),
South Africa-Medicines Control Council (MCC), Brazil-Brazilian National
Health Surveillance Agency (ANVISA), Geneva-World Health
Organisation (WHO), Oman-Ministry of Health (MOH), Uganda-
National Drug Authority (NDA) and Tanzania-Food & Drugs Authority
(FDA). »»

Aurangabad (Maharashtra)
Operational since 1997.
Manufacturing plant for Active Pharmaceutical Ingredients and Drug
Intermediates.
One of the largest manufacturers of Drug Intermediates;3,4-Trimethoxy Toulene
(TMT) and 6-Methoxy-2-Napthaldehyde (6MNA). »»

Indore (Madhya Pradesh)

Acquired from E. Merck in 1994.
Manufacturing plant for Active Pharmaceutical Ingredients and Drug
Intermediates.
One of the world's largest manufacturing plant of API-Chloroquine Phosphate.

Facility approved by Geneva-World Health Organization (WHO). »»

 Kandla (Gujarat)
Operational since 1993.
Facility approved by UK-Medicines and Healthcare products Regulatory
Agency (MHRA), Australia-Therapeutic Goods Administration (TGA),
South Africa-Medicines Control Council (MCC), Brazil-Brazilian National
Health Surveillance Agency (ANVISA), Oman-Ministry of Health(MOH),
Uganda-National Drug Authority (NDA) and Tanzania-Food & Drugs
Authority (FDA).
Formulations manufacturing plant for betalactam tablets, capsules and
dry powders. »»

Ratlam (Madhya Pradesh)

Active Pharmaceutical Ingredients Plant
Operational since 1985.
Facility approved by US-Food and Drug Administration (FDA),
Australia-Therapeutic Goods Administration (TGA), Geneva-World
Health Organization (WHO) and Europe-European Directorate of the
Quality of Medicines (EDQM).

Formulations Plant
Operational since 1983.
Formulations plant manufacturing Tablets, Liquids and Injectables.
Facility approved by Brazil-Brazilian National Health
Surveillance Agency (ANVISA), South Africa-Medicines Control
Council (MCC), Geneva-World Health Organisation (WHO),
Uganda-National Drug Authority (NDA), Oman-Ministry of Health
(MOH) and Tanzania-Food & Drugs Authority (FDA). »»

Silvassa (Union Territory of Dadra & Nagar Haveli)

Operational since February, 2004.

Formulations plant manufacturing tablets. »»

THE-INDIAN-MARKET:

A country of 1.06 billion people spanning a whole subcontinent, across 3,287,590 sq. km, 29 states and 6 union territories, speaking 15 different

official languages, with myriad distinct cultures, and a heritage that goes back 5000 years, India is a country of diversity and depth like no other

in the world.

This is Ipca’s domestic market.

Our domestic product range spans Formulations, Active Pharmaceutical Ingredients (API) and Drug Intermediates across therapeutic segments:

Antimalarials, Antiemetics, Antibiotics, Analgesics, Antiarthritics, Antidiabetics, Cardiac Care, Cough & Cold Therapy, Dermatology, and

Neuropsychiatry segments. Ipca manufactures over 150 formulations in virtually every dosage form: tablets, capsules, oral liquids, dry powders

for suspension, and injectables (liquid and dry). Our finished formulations are available in over 400,000 retail shops, catered to by a network of

over 1500 wholesalers. 1500 sales and marketing personnel service over 200,000 doctors across the country.

DOMESTIC APIs AND DIs: Ipca has been playing a leading role in the domestic Active Pharmaceutical Ingredients (APIs) and Drug

Intermediates (DIs) market, with over 20 years of experience in the Antimalarial and Antihypertensive therapeutic segments. We are the first

manufacturer in India for APIs like Atenolol, Pyrantel Pamoate and Hydroxychloroquine Sulfate. Our domestic pharmaceutical customers include

Alembic, Bayer, Cipla, Dr.Reddy’s, Merck, Nicholas Piramal, Pfizer, Ranbaxy, and Wockhardt, among others.

FORMULATIONS MARKETING The speciality-focussed restructuring of Ipca’s domestic marketing strategy has given birth to 8 self-

administered marketing divisions. Results are encouraging; in 2007, our domestic formulations business has grown at the rate of 16%

against an industry growth of 14% during the same period (ORG-IMS). Brands like Glycinorm, HCQS, Lariago, Malirid, Movon, Pari,

Perinorm, Ramcor, Solvin, Sultax, Tenolol, Tenoric, and Zerodol have become brand leaders in their respective therapeutic segments,

and 4 of these are also rated among the Top 300 Indian Brands (all categories) by ORG-IMS.

DOMESTIC DIVISION :

Division
The largest of Ipca’s divisions, handling the largest number of brands, this division manages our newer Antimalarials, Antihypertensives,
Antibacterials, Non Steroidal Anti-Inflammatory Drugs (NSAIDs) and Cough preparations. Recently it launched Zerodol (Aceclofenac), a country
first. Some of the other leading brands managed by this division are: Tenolol (Atenolol), Larither (Artemether), Roxeptin (Roxithromycin), and
Tenoric (Atenolol + Chlorthalidone).

Division
Ipca’s second largest division, Intima’s marketing focus is on established Anti-Infectives, and mature brands of Ipca in the Antimalarial and
Antiemetic segment. Of the several brands that Intima handles 2 are ranked among India ’s Top 250 brands (cross category). Some of Intima’s
leading brands are: Lariago (Chloroquine Phosphate), Perinorm (Metoclopramide), Pacimol (Paracetamol), Nemocid (Pyrantel Pamoate) and
Eltocin (Erythromycin Estolate).

Division
The focus of this division is on Cardiovascular and Antidiabetic segments and it currently manages 24 brands. Through the introductions of
newer dose and dosage forms, the division focuses on fulfilling the need for dose-titration, which is an essential component in the management
of diabetes and cardiovascular diseases. Some of the leading brands managed by it are: Glycinorm (Gliclazide), Glycinorm-M (Gliclazide +
Metformin), Lisoril (Lisinopril), Simlo (Simvastatin), Calchek (Amlodipine), Piomed (Pioglitazone), Metagard CR (Trimetazidine Controlled
Release) and X’tor (Atorvastatin).

Division

Bionova’s focus area is Dermatology. It has already made its mark by leading in the oral anti-acne segment with brands like Azifast
(Azithromycin) and Acutret (Isotretinoin). Also offered are fast growing brands like Leset (Levocetirizine) and Nipcan (Fluconazole).
 Division
Innova marks Ipca’s entry into the Indian Neuropsychiatry segment. Already to its credit are segment leaders such as Pari (Paroxetine), Sove
(Zolpidem), and Ozapin MD (Olanzapine Mouth Dissolving). Recently, Innova launched Pari CR – India ’s first Paroxetine with Controlled Release
Technology, an international patent for which have been filed.

Division
A super-speciality division, Activa was the countries first Rheumatology and Orthopaedic – focused division. It markets a growing portfolio of
dynamic brands, including: HCQS (Hydroxychloroquine Sulfate), Folitrax (Methotrexate), Saaz (Sulfasalazine), and Movon (Aceclofenac), the
first Aceclofenac in India . Today, Activa is a leader in its segment with a 39% market share, and is also Ipca’s fastest growing division.

Division
The marketing focus of this division is on the growing need for Cardiac and Antidiabetic products. HyCare markets all major molecules for the
management of cardiovascular disease, Type II diabetes and its related complications. Glyree (Glimepiride), Glyree-M (Glimepiride + Metformin)
and Zilast (Cilostazole) are some of the leading brands of HyCare.

Division
Ipca's youngest division, Altus caters to the need of intensivists, both surgical and non-surgical, with a basket of oral and injectable
Antibiotics like Keftragard, Keftragard V, Lactagard, Lactagard 2:1, Tazofast, Primegard, Keftra, Foloup, Supraheal and Sultax
(Sulbactum + Cefotaxime), a world first.

The 7-S-Model---------------------IPCA LABOTARIES LIMITED:

The 7-S-Model is better known as McKinsey 7-S. This is because the two persons who developed this
model, Tom Peters and Robert Waterman, have been consultants at McKinsey & Co at that time. Thy
published their 7-S-Model in their article “Structure Is Not Organization” (1980) and in their books “The
Art of Japanese Management” (1981) and “In Search of Excellence” (1982).The model starts on the
premise that an organization is not just Structure, but consists of seven elements:

Those seven elements are distinguished in so called hard S’s and soft S’s. The hard elements (green
circles) are feasible and easy to identify. They can be found in strategy statements, corporate plans,
organizational charts and other documentations.The four soft S’s however, are hardly feasible. They are
difficult to describe since capabilities, values and elements of corporate culture are continuously
developing and changing. They are highly determined by the people at work in the organization. Therefore
it is much more difficult to plan or to influence the characteristics of the soft elements. Although the soft
factors are below the surface, they can have a great impact of the hard Structures, Strategies and Systems
of the organization.

Description:

The Hard S’s

Strategy Actions a company plans in response to or anticipation of
changes in its external environment.
Structure Basis for specialization and co-ordination influenced
primarily by strategy and by organization size and
diversity.
Systems Formal and informal procedures that support the strategy
and structure. (Systems are more powerful than they are
given credit)
The Soft S’s
Style / Culture The culture of the organization, consisting of two
components:

• Organizational Culture: the dominant values and

beliefs, and norms, which develop over time and become
relatively enduring features of organizational life.

• Management Style: more a matter of what managers

do than what they say; How do a company’s managers
spend their time? What are they focusing attention on?
Symbolism – the creation and maintenance (or sometimes
deconstruction) of meaning is a fundamental
responsibility of managers.
Staff The people/human resource management – processes
used to develop managers, socialization processes, ways
of shaping basic values of management cadre, ways of
introducing young recruits to the company, ways of
helping to manage the careers of employees
Skills The distinctive competences – what the company does
best, ways of expanding or shifting competences
Shared Values / Guiding concepts, fundamental ideas around which a
Superordinate Goals business is built – must be simple, usually stated at
abstract level, have great meaning inside the organization
even though outsiders may not see or understand them.

Effective organizations achieve a fit between these seven elements. This criterion is the origin of the other
name of the model: Diagnostic Model for Organizational Effectiveness.

If one element changes then this will affect all the others. For example, a change in HR-systems like
internal career plans and management training will have an impact on organizational culture
(management style) and thus will affect structures, processes, and finally characteristic competences of
the organization.

In change processes, many organizations focus their efforts on the hard S’s, Strategy, Structure and
Systems. They care less for the soft S’s, Skills, Staff, Style and Shared Values. Peters and Waterman in “In
Search of Excellence” commented however, that most successful companies work hard at these soft S’s.
The soft factors can make or break a successful change process, since new structures and strategies are
difficult to build upon inappropriate cultures and values. These problems often come up in the
dissatisfying results of spectacular mega-mergers. The lack of success and synergies in such mergers is
often based in a clash of completely different cultures, values, and styles, which make it difficult to
establish effective common systems and structures.

The 7-S Model is a valuable tool to initiate change processes and to give them direction. A helpful application is to
determine the current state of each element and to compare this with the ideal state. Based in this it is possible to
develop action plans to achieve the intended state.
 Growth strategy:
Ipca is a market leader in the anti-malarial therapeutic category in India, enjoying 45% market share. Antimalarial
drugs accounted for 40% of its revenues around a decade ago, but now they contribute only 17%. This is due to a
diversified product mix that includes therapeutic areas like cardio-vascular, diabetes, non-steroidal anti-
inflammatory drugs and anti-bacterials . Till a few years ago, over half its portfolio comprised drugs which were
under price control, but that proportion has now fallen to 13-14%. The company also plans to foray into oncology -
another attractive therapeutic area.

In ‘05, Ipca entered into an agreement with Ranbaxy Labs for manufacturing drugs to be sold by the latter in the US.
It has signed two more such agreements with companies in the US and Canada. The branded formulations business
(spread across India, CIS, Asia, Africa and Latin America) is set to be its biggest growth driver. Ipca expects its
domestic formulations business to grow by 20% and the international segment to grow 40% this year.

System

The IPCA project aims to develop a new intelligent interaction mechanism that will enable people with severe motor
and speech disabilities to control standard, and especially web-based, applications. The system will be based on a
flexible combination of existing non-invasive sensors and encoders able to control different physiological parameters,
and a set of software tools that will allow the user to interact with existing computer applications. IPCA will facilitate
user interaction with different Internet applications and services.

IPCA has two components:

• Multi-channel Monitoring System (MMS), based on non-invasive sensors able to control several physiological
parameters from the user such as: EMG, EDR, accelerometers, RR/RA, etc.
• Ambient Navigation Toolkit (ANT) that will interface between the MMS and some standard software
applications, by providing keyboard and/or mouse emulation functions. Its components are:
o Smart Web Browser that will facilitate user interaction with Internet services
o Training system
o Personal profile manager
o On-screen keyboard with scanning and word prediction capabilities
o Emotional Response Monitoring System

Structure
Ipca is always willing to try new structures in new situations. The dynamic change in the business requirements is
effectively handled by maintaining a flexible organization structure and openness. Delegation of authority and
responsibility and freedom to work has enhanced decentralization resulting in quick and effective decision making.
The senior management including Executive Directors and Managing Directors interact with employees at different
levels at different forums. Employee level or category does not restrict the access to top management. The non-
hierarchical reporting and feedback a
re being used effectively and have improved communication amongst all levels.
Power
consumption Unit 2002-2003 2003-2004 2004-2005
detail
Annual Bulk drugs &
MT 834.809 1040.281 1070.356
Production Intermediate
Form
ulatio Nos. 123481114 135824320 95455724
ns
Total Energy Bulk drugs &
consumption / Intermediate Kwh (Lacks) 105.46 131.92 153.66
annum
Form 3
ulatio 0
ns .
34.71 38.13
8
6

InTotal Bulk drugs &

Thermal termediate MkCal 16279 19038 29555
energy
consumption Form 1
ulatio 1
ns 3
12792 12666
1
2

Total
Manufacturing Rs. Lacks 4103.23 4636.28 4442.41
cost
Total Energy Bulk drugs &
cost Intermediate Rs. lacks 555.31 746.93 903.23

Form 2
ulatio 0
ns 7
. 251.03 263.87
4
9

Steam Bulk drugs &

Consumption intermediate MkCal/ MT 16279 19038 29555

Form 1
ulatio 1
ns 3
792 12666
1
2

Corporate Social Responsibility (CSR) & Employee Social Service (ESS):

We are committed to ensure that our business is conducted in all respects according to ethical, professional and legal
standards.

Areas of Operations

Health Environment

Safety Suppliers

Employees Community at large

Customers

Health :- We are committed to implement a programme of activities to achieve continuous improvement in health and
safety performance of our employees and society at large.

Illustration:-

- Free Medicine distribution.

- Blood donation by employees.

- Medical checkups.

- Medical camps.

- Doctor's education etc.

Safety:- We are committed to put our efforts to find out unsafe places and unsafe acts for improving safety of the
people at workplace and road safety for general public.

Illustration:-- Organisation wide safety awareness drives to improve safety.

- A series of training sessions for safe working practices.

- Road safety campaign for general public.

Employees:- We will deliver a competitive and fair employment environment and the opportunity to develop and
advance subject to personal performance and business opportunity.
Illustration:- - Employee education and skill development programs.

- Personal effectiveness programs.

Customers:- Our business and existence depend upon our customers. Every employee is responsible for ensuring that
any contact with our customers and the public at large reflects professionalism, efficiency and honesty. We will
constantly strive to provide high quality service, products and good value for money.

Illustration:-

- Health awareness programs.

- Product knowledge.

- Ensuring security of our drugs from manufacturing to supply.

- Providing quality products.

- Prompt service.

Environment:- Our objective is to reduce impact on the environment through a committed continual improvement
projects for Environment Management systems.

Illustration:-

- Tree plantations inside and outside manufacturing sites.

- Safe effluent treatment management.

- Rain water harvesting.

- Ecology balance awareness to the workmen, school and college students.

- Water conservation.

- Energy conservation.

Suppliers:- We regard suppliers as our partners and work with them to help us achieve our policy aspirations in the
delivery of our products and services.
We will encourage our suppliers and contractors to adopt responsible business policies and practices for mutual
benefit.

Illustration:-

- To work closely to encourage for CSR policy development and implementation.

Community at large:- We are being a responsible corporate citizen and will support for appropriate social and non-
political projects. For this purpose our organisation will focus charities in following areas.

- Education and Training.

- Employment.

- Social Welfare of underprivileged sections.

- Environment.

- Rural development.

- Help Organisations who serve Leprosy & Cancer Patients.

Financial report of the company(2003-2008):

balance sheet:
 2005- 2006-
Particulars 2003-04 2004-05 06 07 2007-08
Domestic
Income * 265.26 274.87 350.99 440.38 549.14
Exports 357.48 410.58 401.83 484.46 536
Total
Income * 622.74 685.45 752.82 924.84 1085.14
Earnings
before
Interest,
Depreciation
& Tax 128.51 134.48 116.62 202.52 229.16
Profit Before
Tax 108 101.55 78.39 151.24 176.87
Profit After
Tax 79.25 80.71 63.98 122.23 141.12
Share
Capital 12.5 25 25 25 25.09
Reserves
and Surplus 263.17 312.59 360.89 461.02 582.57
Net Worth 275.67 337.59 385.89 486.02 607.7
Net Block 195.92 322.46 373.52 431.48 541.04
Net Current
Assets 248.27 268.52 243.23 319.79 445.12
Dividend
(%) 110% 55% 55% 75% 80%
Earnings
Per Share
(Rs.) 63.41 32.28 25.59 48.89 56.38
Book Value
Per 220.5 ** 135.0 242.2
Share(Rs.) 4 4 154.36 194.41 1

Income statement(2003 -2008):

2007- 2006- 2005- 2004- 2003-
Particulars 08 07 06 05 04
Operating Ratios (in Percent)
Export Turnover/Tota
l Income
49.39 52.38 53.38 59.9 57.4

Domestic
Turnover/Total Income 46.62 45.92 46.12 38.76 39.35

Raw Material
Cost/Total Income 42.67 43.02 46 42.29 43.6

Interest/Total Income 1.85 2.39 1.81 1.59 0.97

Depreciation/Total
Income 2.97 3.15 3.27 2.77 2.33

Tax/Total Income 3.32 3.26 1.91 3.48 4.62

Research
Spending/Total Income 4.12 3.61 5.05 4.97 4.12
Profitability (in Percent)

PBIDT/Total Income 21.12 21.81 15.49 19.18 20.64

PBT/Total Income 16.3 16.26 10.41 14.82 17.34

PAT/Total Income 13 13.22 8.5 11.34 12.72

 Business Characteristics

Return on Capital
Employed %

(ROCE = PBIT/(Net
Worth + Long Term
Liability) 23.26 26.18 17.03 22.31 32.46

Long Term Debt Equity

Ratio 0.3:1 0.25:1 0.28:1 0.37:1 0.17:1

Debtors Turnover Ratio

(Days) 95 73 70 85 84

Creditors Turnover
Ratio (Days) 69 72 78 69 66

Inventory Turnover
(Days) 91 93 89 94 91
Current Ratio 1.83 1.79 1.73 1.9 1.68
Growth (in percent)
Income 17.3 22.9 9.8 10.1 28.58

Domestic Sales 19.1 22.3 30.7 8.4 32.32

Export Sales 10.6 20.6 -2.1 14.9 28.59
PBIDT 13.6 72.9 -11.3 2.3 33.33
PAT 15.5 91 -20.7 -1.8 28.13
Per Share Data (in Rs.)
Earnings Per Share
(EPS) 56.25 48.89 25.59 32.28 63.41
Book Value 242.21 194.41 154.36 135.04 220.54
Dividend 8 7.5 5.5 5.5 11

Audited financial report:

Nine Months Year Ended (Consolidated
Particulars Quarter Ended Year Ended
Ended Result)
31-12-2007 31-3- 31-3- 31-3- 31-3- 31-3- 31-3-
(Unaudited) 2008(Unaudited) 2007(Unaudited) 2008(Audited) 2007(Audited) 2008(Audited) 2007(Audited)

Sales/Income from Operations 867.24 261.52 231.98 1128.76 978.09 1137.86 997.22

Less: Excise Duty and Sales Tax 38.73 7.70 9.07 46.43 56.98 46.43 56.98

Net Sales/Income from Operations 828.51 253.82 222.91 1082.33 921.11 1091.43 940.24

Other Income 1.53 1.28 2.15 2.81 3.73 2.80 2.47

Total Income 830.04 255.10 225.06 1085.14 924.84 1094.23 942.71

Total Expenditure:

a) (Increase)/decrease in stock in trade and work

(17.19) (7.59) (0.22) (24.78) (22.53) (28.82) (22.73)
in progress

b) Materials consumption 334.79 109.47 93.65 444.26 369.97 443.26 369.54

c) Purchase of traded goods 37.64 5.98 10.68 43.62 50.46 49.44 54.47

d) Staff cost 107.88 36.00 25.77 143.88 114.65 147.04 117.20

e) Depreciation / Amortisation 23.73 8.48 7.59 32.21 29.16 32.15 29.45

f) Manufacturing and other expenditure 175.59 73.41 52.55 249.00 210.61 255.15 218.00

Total Expenditure 662.44 225.75 190.02 888.19 752.32 898.58 765.93

Financial Cost 15.47 4.61 6.54 20.08 22.12 20.39 22.47

Profit from ordinary activities before tax 152.13 24.74 28.50 176.87 150.40 175.26 154.31

Tax Expense 33.65 2.10 0.85 35.75 29.01 35.79 29.38

Share of (loss)/ profits from Investments in

- - - - - (3.93) 0.12
Associates

Proportionate share of dividend received by

- - - - - 0.39 0.28
Associates from cross holding

Profit from ordinary activities after tax 118.48 22.64 27.65 141.12 121.39 135.93 125.33

Extraordinary items

- Insurance Claim on assets damaged in flood - - - - 0.84 - 0.84

Net Profit for the period 118.48 22.64 27.65 141.12 122.23 135.93 126.17

Paid-up equity share capital (Face value of

25.09 25.09 25.00 25.09 25.00 25.09 25.00
Rs.10/- each)

Reserves excluding revaluation reserve - - - 582.57 461.02 564.13 448.75

Earnings per share (Rs.)(Before

Extraordinary items)

Basic 47.22 9.04 11.06 56.38 48.56 54.31 50.13

Diluted 47.07 9.02 10.99 56.20 48.39 54.13 49.96

Earnings per share (Rs.)(After Extraordinary

Items)

Basic 47.22 9.04 11.06 56.38 48.89 54.31 50.47

Diluted 47.07 9.02 10.98 56.20 48.72 54.13 50.29

Aggregate of public shareholding

- Number of shares 13547472 13536230 11940865 13536230 11940865 - -

- Percentage of shareholding 54.00% 53.95% 47.76% 53.95% 47.76% - -

Notes:

1. The above audited financial results as reviewed by the Audit Committee were approved and taken on record by the Board of Directors
in their meeting held on May 29, 2008.
2. The Board has recommended a Final Dividend of Rs.4.50 per share (45%) for the financial year 2007-08. Together with the Interim
Dividend of Rs.3.50 per share (35%) already declared and paid, the total Dividend for the financial year amounts to Rs.8 per share
(80%).
3. The Company has completed the process of open offer in April 2008 to the shareholders of M/s Tonira Pharma Ltd. under Regulation
 10 and 12 of SEBI (SAST) Regulations and has since gained the management control of the said company as the largest shareholder
holding 32.30% of its voting rights.
4. Previous year figures have been regrouped, wherever necessary.
5. The entire operations of the Company relate to only one segment viz.'Pharmaceuticals'.
6. 24 investor grievances were received for the quarter ended 31st March, 2008 and disposed off. There are no investor grievances lying
unresolved as at 31st March, 2008.
By Order of the Board
For Ipca Laboratories Limited

Place : Mumbai Premchand Godha

Date : May 29, 2008 Managing Director

The end.

INTERNATIONAL INSTITUTE OF BUSINESS STUDIES

Assignment
On
Ipca Laboratories Limited
Student name : pradip kumar behera

Section: Imagination

Content

Ipca Laboratories Limited

Address of the company:

History of the company:

Company profile:

Key person of Ipca laboratories limited:

 Last year achievement---2007:

Products:

Ipca’sR&D:

Products manufacturing unit:

The Indian market:

7’s model of Ipca Laboratories limited:

CSR---Ipca Laboratories limited:

Financial Report(2003-2008):