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Cadila Healthcare Ltd

BSE Code : 532321 | NSE Symbol : CADILAHC | ISIN:INE010B01027| SECTOR : Pharmaceuticals |

NSE BSE
 
SMC up arrow

417.70

6.55 (1.59%) Volume 280564

30-Oct-2020 EOD

Prev. Close

411.15

Open Price

413.10

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

417.70(1430)

 

Today’s High/Low 419.00 - 408.40

52 wk High/Low 447.90 - 202.00

Key Stats

MARKET CAP (RS CR) 42761.73
P/E 21.68
BOOK VALUE (RS) 109.9902872
DIV (%) 350
MARKET LOT 1
EPS (TTM) 19.27
PRICE/BOOK 3.79760804915873
DIV YIELD.(%) 0.84
FACE VALUE (RS) 1
DELIVERABLES (%) 22.63
4

News & Announcements

30-Oct-2020

Cadila Healthcare Ltd - Cadila Healthcare Limited - Loss of Share Certificates

29-Oct-2020

Cadila Healthcare receives USFDA tentative approval for Dapagliflozin Tablets

29-Oct-2020

Zydus Cadila receives USFDA tentative approval for Linagliptin Tablets

29-Oct-2020

Cadila Healthcare Ltd - Cadila Healthcare Limited - Press Release

28-Oct-2020

Cadila Healthcare issued commercial paper for Rs 625 crore

23-Oct-2020

Zydus Cadila receives USFDA final approval for Albuterol Tablets

22-Oct-2020

Cadila Healthcare receives reaffirmation in ratings for CPs

21-Oct-2020

Cadila Healthcare to convene board meeting

Corporate Actions

Bonus
Splits
Dividends
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Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Alembic Ltd 506235 ALEMBICLTD
Alembic Pharmaceuticals Ltd 533573 APLLTD
Alkem Laboratories Ltd 539523 ALKEM
ANG Lifesciences India Ltd 540694
Anglo-French Drugs & Industries Ltd 40169
Astron Drugs & Industries Ltd 524206
Aurobindo Pharma Ltd 524804 AUROPHARMA
Bajaj Healthcare Ltd 539872
Bal Pharma Ltd 524824 BALPHARMA
Biocon Ltd 532523 BIOCON
Bombay Drugs & Pharma Ltd (Merged) 524512
Brooks Laboratories Ltd 533543 BROOKS
Cebon India Ltd 524272
Celestial Biolabs Ltd 532871 CELESTIAL
Cepham Organics Ltd 507756
Cian Healthcare Ltd 542678
Cipla Ltd 500087 CIPLA
Claris Lifesciences Ltd 533288
Concord Drugs Ltd 538965
Dee-Pharma Ltd 507722 DEEPHARMA
Dishman Carbogen Amcis Ltd 540701 DCAL
Dr Reddys Laboratories Ltd 500124 DRREDDY
Dr Sabharwals Manufacturing Labs Ltd 507743
Dr.Datsons Labs Ltd 533412 DRDATSONS
Druid Pharma Ltd 40430
Earum Pharmaceuticals Ltd 542724
Eupharma Laboratories Ltd 530409 EUPHARMLAB
FDC Ltd 531599 FDC
Glenmark Pharmaceuticals Ltd 532296 GLENMARK
Gufic BioSciences Ltd 509079 GUFICBIO
Hindustan Bio Sciences Ltd 532041
Hindustan Biotech Ltd 40162
Indoco Remedies Ltd 532612 INDOCO
Ind-Swift Laboratories Ltd 532305 INDSWFTLAB
IOL Chemicals & Pharmaceuticals Ltd 524164 IOLCP
Ipca Laboratories Ltd 524494 IPCALAB
J B Chemicals & Pharmaceuticals Ltd 506943 JBCHEPHARM
Jagsonpal Pharmaceuticals Ltd 507789 JAGSNPHARM
Jayant Vitamins Ltd 506518
Jupiter Bioscience Ltd 524826 JUPITER
KDL Biotech Ltd 532291 KOPDRUGS
Kopran Ltd 524280 KOPRAN
Kothari Phytochemicals & Industries Ltd 40136
Lasa Supergenerics Ltd 540702 LASA
Lupin Laboratories Ltd (Merged) 500258 LUPINLAB
Lyka Labs Ltd 500259 LYKALABS
Mangalam Drugs and Organics Ltd 532637 MANGALAM
Medico Remedies Ltd 540937
Mercury Phytochem Ltd 524498
Merind Ltd 506895 MARIND
Mesco Pharmaceuticals Ltd 500274 MESCOPHARM
Morepen Laboratories Ltd 500288 MOREPENLAB
Mylan Laboratories Ltd 524794 MATRIXLABS
Natco Pharma Ltd 524816 NATCOPHARM
Oriental Remedies & Herbals Ltd 526989
Ortin Laboratories Ltd 539287 ORTINLABSS
P C I Chemicals & Pharmaceuticals Ltd 524792
Pan Drugs Ltd 531440
Panacea Biotec Ltd 531349 PANACEABIO
Parnax Lab Ltd 506128
Phaarmasia Ltd 523620
Pharmaceutical Products of India Ltd 524113 PPIL
Piramal Enterprises Ltd 500302 PEL
Ranbaxy Laboratories Ltd (Merged) 500359 RANBAXY
RPG Life Sciences Ltd 532983 RPGLIFE
Saamya Biotech (India) Ltd 532905
Sakar Healthcare Ltd 538377 SAKAR
Sandoz (India) Ltd (Merged) 531990
Sharda Drugs & Industries Ltd 24206
Shree Ganesh Biotech India Ltd 539470
Shree Ganesh Remedies Ltd 540737
Siddhartha Pharmachem Ltd 532122
SMS Lifesciences India Ltd 540679 SMSLIFE
Socrus Bio Sciences Ltd 524719
SOL Pharmaceuticals Ltd 500393 SOLPHARMA
Solara Active Pharma Sciences Ltd 541540 SOLARA
Source Natural Foods & Herbal Supplements Ltd 531398
Strides Pharma Science Ltd 532531 STAR
Sumitra Pharmaceutical & Chemicals Ltd (Merged) 524133 SUMITRAPHA
Sun Pharmaceuticals Industries Ltd 524715 SUNPHARMA
Supriya Pharmaceuticals Ltd 524784
Surya Pharmaceutical Ltd 532516 SURYAPHARM
Suven Pharmaceuticals Ltd 543064 SUVENPHAR
Syngene International Ltd 539268 SYNGENE
Syschem (India) Ltd 531173
Themis Medicare Ltd 530199 THEMISMED
Titan Biotech Ltd 524717
Tonira Pharma Ltd(merged) 530155
Torrent Pharmaceuticals Ltd 500420 TORNTPHARM
Triochem Products Ltd 512101
TTK Healthcare Ltd 507747 TTKHLTCARE
Unichem Laboratories Ltd 506690 UNICHEMLAB
Unicorn Pharmaceuticals (India) Ltd 524334
Valencia Nutrition Ltd 542910
Vardhaman Laboratories Ltd 524796
Vikram Thermo (India) Ltd 530477
Vivimed Labs Ltd 532660 VIVIMEDLAB
Welcure Drugs & Pharmaceuticals Ltd 524661
Wintac Ltd 524758
Wockhardt Ltd 532300 WOCKPHARMA
Zillion Pharmachem Ltd 524476 ZILONPHARM
Zota Health Care Ltd 538426 ZOTA

Share Holding

Category No. of shares Percentage
Total Foreign 47516535 4.64
Total Institutions 128018423 12.51
Total Govt Holding 1991562 0.20
Total Non Promoter Corporate Holding 8904090 0.87
Total Promoters 766534434 74.88
Total Public & others 70777556 6.92
Total 1023742600 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Cadila Healthcare Ltd

Cadila Healthcare Ltd is a well known research-oriented, technology-driven pharmaceutical company focused on the research areas of biotechnology, formulations and Active Pharmaceutical Ingredients. They are an Indian based pharmaceutical company having their presence around the world. They are having their manufacturing facilities at Ahmedabad, Ankleshwar and Vadodara in Gujarat, Ponda in Goa, Raigad in Maharashtra and Solan in Himachal Pradesh. Cadila Healthcare Ltd, the flagship of Zydus Cadila Group was incorporated in May 1995 and they became a public limited company in July 1996. The company's operation includes pharmaceuticals, which includes human formulations, veterinary formulations and bulk durgs, diagnostics, herbal products, skin care products and OTC products. In the year 1996, the company made a strategic alliance with Gulin Pharma of China and launched Falcigo in India, which is an anti-malarial segment. In May 2000, the company acquired formulation business of Recon Ltd, which strengthens the company in the southern market. In the year 2001, they acquired German Remedies which was the largest M&A in the Indian Pharmaceutical sector and in the same year, they entered into a joint venture with US based Onconova for collaborative research in the field of Oncogenomics. In April 2002, the company acquired Banyan Chemicals, a Vadodara based company with the US FDA approved plant. In the year 2003, German Remedies, Recon Healthcare, Zoom Properties and Zydus Pathline merged with the company. Also, they acquired Alpharma France, which spearheaded the group operations in France. In the same year, the company emerged as a 'Partner of Choice' for Schering AG to manufacture and market the products in India. In November 2004, the company entered into a strategic alliance with Zambon Group in Italy to open up new avenues in contract manufacturing. In the same year, the company entered into a long term strategic pact with Boehringer Ingelheim India Ltd, a wholly owned subsidiary of Boerhringer Ingelheim (BI) to manufacture and market BI's products in India. In the year 2005, the company entered into a strategic alliance with Mallinckrodt Pharmaceuticals Generics, a business unit of Tyco Healthcare to market the product manufactured by the company under a joint label. In the same year, the company signed a 50:50 joint venture with Mayne Pharma of Australia to manufacture generic injectable, cytotoxic (anti-cancer) medicines as well as active pharmacetical ingredients (API) for global markets. During the year 2005-06, the company signed a 50:50 joint venture with one of India's top biotech companies Bharat Serums and Vaccines Ltd (BSV) and formed Zydus BSV Pharma Pvt Ltd to develop, manufacture and market non-infringing and proprietary Novel Drug Delivery System (NDDS) of an approved anti-cancer product for global markets. During the year 2006-07, the company entered into share purchase agreement to acquire 97.95% stake in Liva Healthcare Ltd, which is carrying on business of manufacturing and marketing of Formulations. They established a green field facility for Solid Oral Dosage Forms in Sikkim mainly for domestic market. They also installed Lyophilisation facility at Moraiya plant with annual capacity of 7.5 million dosages to cater to both Indian and International markets. During the year 2007-08, the company restructured their formulation division namely Alidac and launched two new sub division namely Corza and Fortiza. Also, they forayed into the neutraceutical industry and launched a new division, Zydus Nutriva. The upgradation of the injectibles facility at Moraiya was completed and also, they expanded their manufacturing facility at Ankleshwar. Zydus Healthcare Brasil Ltd, Brazil, a wholly owned subsidiary of the company, acquired 100% shareholding of Quimica e Farmaceutica Nikkho Do Brasil Ltda, a Brazilian Pharmaceutical company, to expand their branded business in Brazil. Also, Zydus Pharmaceuticals Inc, Japan, a wholly owned subsidiary of the company, acquired 100% shareholding in Nippon Universal Pharmaceuticals Co Ltd, Japanese Company, which is carrying out business of manufacturing and marketing of pharmaceutical products in Japan. In February 2008, the company and Karo Bio of Sweden made a three year strategic collaboration in the area of drug discovery and development. In May 2008, the company entered into Spain with the acquisition of 100% stake in Laboratories Combix. In June 2008, the company through their wholly owned subsidiary, Zydus Healthcare SA Pty Ltd is acquiring majority state of 70% in Simayla Pharmaceuticals of South Africa. The company decided to demerge the Consumer Products Division of the company and transferred to Carnation Nutra Analogue Foods Ltd, which is a subsidiary of Cadila Healthcare and the merger of Zydus Hospital and Medical Research Pvt Ltd with the company. In August 2008, the company entered into an agreement with WHO to explore a possible collaboration in the development of a cocktail for the treatment of rabies, through the use of monoclonal antibodies. The Board of Directors of Cadila Healthcare and Carnation Nutra-Analogue Foods Ltd. at their respective meeting held on 4 July 2008 approved the modalities of the composite scheme of arrangement for restructuring of the consumer products division of Cadila Healthcare. The board approved the demerger of the consumer products division of Cadila Healthcare into Carnation, which is a subsidiary of Cadila Healthcare and the merger of Zydus Hospital and Medical Research Pvt. Ltd. (ZHMRPL) with Cadila Healthcare. As consideration, Carnation will allot to the shareholders of Cadila Healthcare 4 fully paid-up equity shares of Rs 10 each for every 15 equity shares of Rs 5 each held in Cadila Healthcare. On 28 January 2011, Cadila Healthcare and Bayer HealthCare announced that they have signed an agreement to set up the Joint Venture Company Bayer Zydus Pharma for the sales and marketing of pharmaceutical products in India. Each party will hold 50 percent of the shares of Bayer Zydus Pharma, headquartered in Mumbai, and be equally represented on its management board. Bayer Zydus Pharma will start operations with Bayer HealthCare's Pharmaceutical Division contributing its existing sales and marketing business in India to the new company and Cadila Healthcare contributing its women's healthcare products, diagnostic imaging business and other products. Bayer Zydus Pharma will operate in key segments of the Indian pharmaceuticals market with a focus on women's healthcare, metabolic disorders, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments and oncology. On 17 June 2011, Cadila Healthcare announced that Zydus Pharmaceuticals USA Inc., through its subsidiary Zynesher Pharmaceuticals USA LLC has entered into an agreement to acquire the assets of the US based pharmaceutical company Nesher Pharmaceuticals Inc. Nesher operates as the generic subsidiary of KV Pharmaceutical, based at St. Louis, Missouri, USA. The financial details of the agreement were not disclosed. Nesher has considerable expertise in niche therapies which have development or production barriers, such as controlled release medications or DEA-controlled substances. The broad-based assets purchase agreement includes assets and assumption of certain liabilities, Nesher's existing and pipeline ANDAs, certain manufacturing facilities and a full fledged research and development lab. With this, Zydus will now be able to manufacture and distribute generic controlled substances in the US market, which otherwise cannot be imported. On 1 April 2011, Cadila Healthcare announced that it has ended the financial year 2010-11 on a high note, taking its revenues beyond the $1 billion mark. On 27th July 2011, Cadila Healthcare announced that its 100% subsidiary Zydus Animal Health Limited (AHL) has signed a Share Purchase Agreement with ICICI Venture, to acquire 100% shareholding of Finest Procuring Solutions Limited, which in turn holds 100% shareholding of Bremer Pharma GmbH, of Germany. The agreement includes the transfer of all key assets, people, brands and export contracts of Bremer - a global animal health company headquartered in Warburg-Scherfede, Germany. The acquisition will help Zydus AHL expand its animal health business and gain strategic access to the key markets across Europe, South America, Asia and Africa. On 21 December 2011, Cadila Healthcare announced the acquisition of 100% stake in Biochem, one of the top 40 pharma companies in India. A privately-held company headquartered in Mumbai, Biochem is a well-integrated pharma player with a presence in the antibiotics, cardiovascular, anti-diabetic and oncological segments. Biochem has reported sales of Rs 264.5 crore for the year 2010-2011. On 18 July 2012, Zydus Urosciences, the specialty division of Cadila Healthcare, announced the launch of Udenafil, a next generation therapy for erectile dysfunction, for the first time in India. The group has an exclusive license to market this patented molecule developed by Dong-A Pharmaceuticals of Korea, in India. On 25 July 2013, Cadila Healthcare and IDRI, a Seattle-based non-profit research and product development organization, announced that they are collaborating on the production and clinical development of IDRI's visceral leishmaniasis (VL) vaccine candidate, designed to prevent the deadly parasitic disease. Known as Kala-Azar in India, VL is transmitted by the bite of an infected sand fly. Cadila Healthcare and IDRI will collaborate to conduct clinical development activities in India with the goal of developing, registering and marketing this vaccine candidate for the prevention of VL, which will achieve the objective of global access - that is, ensuring the vaccine is affordable to and accessible by all people in need. Conducting trials in India, where there are real-life situations of disease exposure, is critical to determining the effectiveness of IDRI's VL vaccine candidate and ensuring it is approved and available within endemic countries. On 16 October 2013, Cadila Healthcare and Pieris AG, a next generation therapeutic protein R&D company, announced that they have entered into an alliance for development and commercialization of multiple novel Anticalin-based protein therapeutics. The collaboration combines Pieris' drug discovery and early development capabilities with Cadila's expertise in biologics development, regulatory affairs and biologics manufacturing. Under the terms of the agreement, Cadila Healthcare will take the lead in advancing Anticalin drug candidates through formal preclinical development and into clinical development, undertaking drug development in accordance with ICH guidelines. Cadila Healthcare has been granted exclusive marketing rights in India and several other emerging markets, while Pieris retains exclusive marketing rights in key developed markets. On 15 September 2014, Cadila Healthcare and Gilead Sciences, Inc. announced that they have signed a non-exclusive licensing agreement which will allow the generic manufacture of sofosbuvir and the investigational single tablet regimen of ledipasvir/sofosbuvir for distribution in 90 developing countries, including India. Under the licensing agreement, Cadila Healthcare will receive a complete technology transfer of the Gilead manufacturing process to enabling production to be scaled up as quickly as possible. Zydus will set its own prices for the generic product, paying a royalty on sales to Gilead to support product registrations, medical education and training, safety monitoring and other business essential activities. The licenses also permit the manufacture of sofosbuvir or ledipasvir in combination with other chronic hepatitis C medicines. On 9 December 2014, Cadila Healthcare announced that it has become the first company in the world to launch the biosimilar of Adalimumab - the world's largest selling therapy. Developed by the researchers at the Zydus Research Centre, the biosimilar has been approved by the Drug Controller General of India and will be marketed under the brand name, Exemptia to treat auto immune disorders such as rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, and Ankylosing Spondylitis. On 17 March 2015, Cadila Healthcare announced the launch of SoviHep - the breakthrough therapy for Hepatitis C in alliance with Gilead Sciences, Inc. SoviHep will provide succour to more than 10 million patients who suffer from Hepatitis C in India. The therapy will be marketed by the specialty division of the group, Zydus Heptiza. Zydus and Gilead Sciences, Inc. had signed a non-exclusive licensing agreement which will allow the manufacture of sofosbuvir and the fixed-dose combination of ledipasvir/sofosbuvir for distribution in 91 countries including India. On 31 December 2015, Cadila Healthcare announced that the company has received a warning letter by the USFDA relating to its Moraiya formulation facility and Ahmedabad API facility (Zyfine). In a statement, Cadila Healthcare said that the company is working hard to ensure that the commitments made to the USFDA are fully completed. The company will continue to take all necessary steps to ensure that the USFDA is fully satisfied with the company's remediation measures for these two manufacturing facilities. There are no products in the US market which use API of Zyfine facility. On 5 January 2016, Cadila Healthcare announced the strategic acquisition of select brands and the manufacturing operations in Haridwar, India, of Zoetis, a global animal health company. The acquisition will help Cadila Healthcare expand its animal health business in India and gain access to manufacturing operations which have also been catering to global markets. The financial details of the deal were not disclosed. As a result of this acquisition, Cadila gains access to a wide range of nutrition as well as therapeutic products which have strong brand equity and a combined turnover of Rs 171 crore. A major boost to the company's portfolio would be the addition of livestock farmcare products which are well accepted in the market. An access to the WHO GMP approved manufacturing facility is expected to boost Cadila's exports and institutional business. The plant spread over 10,000 sq. metres manufactures Tablets, Liquid Orals and Injectables. On 19 February 2016, Cadila Healthcare announced that it has received approval from the USFDA to market Doxycycline Capsules USP, 50 mg, 75 mg, and 100 mg. The drug falls in the anti-bacterials segment. With this first approval, the group will now commence supplies to the US market from its formulation manufacturing facility located at the SEZ in Ahmedabad. On 28 March 2016, Cadila Healthcare announced that its wholly owned subsidiary Zydus Healthcare Limited has entered into a definitive agreement to acquire Actibile' from Albert David Limited (ADL). The brand falls in the gastroenterology segment and is used for dissolving gall bladder stones. The deal will be financed through internal accruals. On 15 June 2016, Cadila Healthcare announced that it has signed a strategic collaboration agreement with Eczacibasi Ila Pazarlama A.S. a leading healthcare company of Turkey, to market biotech products in the Turkish market. The agreement involves the import of biosimilars which are currently unavailable in the country especially for the treatment of cancer and also paves the way for a long term strategic collaboration to produce and launch new products in the market. On 20 June 2016, Cadila Healthcare announced that it has strengthened its US portfolio with the acquisition of two ANDAs from Teva that are being divested by Teva as a pre-condition to its acquisition of Allergan's generic business. The acquisition of these ANDAs is contingent on the closing of the Teva-Allergan Generics transaction and approval by the US Federal Trade Commission. The financial details of the transaction were not disclosed. These ANDAs have been acquired by its 100% subsidiary, Zydus Worldwide DMCC and the transaction will be financed through internal accruals. The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch. The estimated market size of the two ANDAs put together is nearly US$ 200 million. On 7 July 2016, Cadila Healthcare announced that it has signed a non-exclusive, royalty free agreement with The Medicines Patent Pool (MPP) for the generic production of Bristol-Myers Squibb's daclatasvir, a novel direct-acting antiviral (DAA) that is proven to help cure multiple genotypes of the Hepatitis C Virus (HCV). The agreement sub-licences Cadila to produce and sell daclatasvir in 112 low and middle income countries. The MPP licence allows generic manufacturers to develop fixed-dose combinations that offer the potential to treat all of the six major genotypes of HCV. On 20 September 2016, Cadila Healthcare and Takeda Pharmaceutical Company Limited announced a partnership to tackle chikungunya, an emerging infectious disease. The chikungunya virus is most often spread to people by Aedes aegypti and Aedes albopictus mosquitoes, the same vectors that spread dengue and zika. The broad-based agreement includes early stage development to the final commercialisation of the vaccine. There is currently no vaccine to prevent or medicine to treat chikungunya virus infection. On 30 September 2016, Cadila Healthcare and Medicines for Malaria Venture (MMV) announced a collaboration to develop the investigational antimalarial compound MMV674253. Cadila Healthcare will lead the development of the novel compound and MMV will provide support including scientific expertise and access to tools in the field of malaria drug development and delivery. The aim of the collaboration is to provide an effective alternative to the current front-line antimalarial drugs for the treatment of uncomplicated P. falciparum malaria, artemisinin-based combination therapies (ACTs), which are under threat of resistance. On 28 December 2016, Cadila Healthcare announced that its wholly owned subsidiary company Zydus Healthcare Limited (Zydus) has acquired six brands from MSD and its subsidiaries. The brands are DECA-DURABOLIN, DURABOLIN, SUSTANON, MULTILOAD, SICASTAT and AXETEN range, which fall in the men's health, women's health, wound management and cardiovascular therapy segments, respectively. The deal includes transfer of distribution and commercialization rights and assignment of trademarks of all the six brands to Zydus Healthcare Limited in India. As a part of the deal, Organon (India) Private Limited, one of the legal subsidiaries through which MSD operates its business in India, has also transferred the distribution and commercialization rights for DECA-DURABOLIN and DURABOLIN to Zydus for Nepal. Financial details of the deal were not disclosed. The strategic brands' acquisition will strengthen Cadila's portfolio in key therapeutic segments. The acquired portfolio had clocked sales of Rs 84 crore in 2015. On 19 January 2017, Cadila Healthcare announced that it has acquired Sentynl Therapeutics Inc., a US based specialty pharma company specialized in marketing of products in the pain management segment. The transaction will be EPS accretive. With this acquisition, Cadila Healthcare makes a foray into the specialty pain market in the US valued at $8 billion. It gains access to the specialty distribution network and a large prescriber base. Sentynl provides healthcare professionals with treatment solutions that enable them to meet the needs of individual patients. This acquisition will also enable Cadila Healthcare to leverage its existing assets in the US. The acquisition was solely funded by Bank of Tokyo-Mitsubishi UFJ. On 23 February 2017, Cadila Healthcare announced that the USFDA has approved the group's plans to initiate a Phase 2 clinical trial of Saroglitazar Magnesium (Mg) in patients with Primary Biliary Cholangitis (PBC) of the liver. This randomized, double-blind Phase 2 trial will evaluate Saroglitazar Magnesium 2mg and 4 mg Vs. Placebo. PBC is a liver disease caused due to progressive destruction of the bile ducts in the liver which leads to reduction of bile flow - a condition referred to as cholestasis. On 24 February 2017, Cadila Healthcare announced that it has received approvals from the Drug Controller General of India (DCGI), Central Drugs Standard Control Organization (CDSCO) and the Central Drug Laboratory (CDL) to market the Tetravalent Inactivated Influenza vaccine for seasonal flu, VaxiFlu - 4. With this, Cadila will become the first Indian pharma company and second in the world to launch a Tetravalent Inactivated Influenza vaccine. The vaccine provides protection from the four influenza viruses- H1N1, H3N2, Type B (Brisbane) and Type B (Phuket). VaxiFlu - 4 will be marketed by Zydus Vaxxicare - a division of the group focussing on preventives. On 21 June 2017, Cadila Healthcare announced that its formulations manufacturing facility at Moraiya, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The Moraiya manufacturing plant had completed the USFDA audit from 6 February to 15 February 2017 with zero 483 observations. Post the audit, the plant has received several product approvals, including the final approval to market Mesalamine Delayed- Release Tablets USP, 1.2 g in the US. On 5 July 2017, Cadila Healthcare announced the initiation of a phase II trial investigating ZYAN1, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI), as a treatment for anemia associated with chronic kidney disease (CKD). ZYAN1 is an oral small molecule that has been designed to inhibit hypoxia-inducible factor prolyl hydroxylase, and thereby increase the natural production of hemoglobin and RBCs in anemic patients. ZYAN1 has been shown to improve iron mobilization and has the potential to reduce or eliminate the need for iron supplementation. On 5 July 2017, Cadila Healthcare and Phibro Animal Health Corporation announced their intention to enter into a long-term arrangement to license Phibro's innovative poultry vaccine technologies and know-how to a new vaccine manufacturing facility to be built by Cadila to serve the fast growing poultry market in India. The availability of new advanced poultry vaccines, which were until now being imported into India, adds a new dimension to the Make-in-India movement in the animal health segment. On 12 July 2017, Cadila Healthcare announced its succession planning move with the appointment of Dr. Sharvil Patel as the managing director of the company. While Mr. Pankaj Patel will continue as the Chairman of the company, he has stepped down as the Managing Director. On 29 August 2017, Cadila Healthcare announced that its formulations manufacturing facility at Pharma SEZ, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The manufacturing plant had completed the USFDA audit from 16 to 24 January 2017. On 7 September 2017, Cadila Healthcare announced that the USFDA inspected its Moraiya facility from 31 August 2017 to 7 September 2017. At the end of the inspection, no observation (483) was issued. On 19 September 2017, Cadila Healthcare announced that it has entered into an exclusive agreement for the technology know-how for varicella vaccine production in the Russian Federation with Pharm Aid Ltd., headquartered in Russia. The exclusive agreement was signed at the BIOTECHMED conference in Gelendzhik, Russia. Pharm Aid Ltd, has been set up by Nacimbio together with Ishvan Pharmaceuticals Ltd., for the localization of innovative vaccine production in Russia. Through this agreement, Cadila Healthcare gains access to the public and private market segments in the Russian Federation, Belarus, Uzbekistan, Kazakhstan, Armenia and Kyrgyzstan. On 29 November 2017, Cadila Healthcare announced that the company has entered into a public private partnership with the Indian Council of Medical Research (ICMR) to launch new diagnostic kits, developed by ICMR's National Institute of Virology (NIV), Pune to detect neglected infectious diseases in livestock. The kits have been developed to detect infections in the animal population, as they often are the hosts or reservoirs, spreading the infection to humans who come in close contact with them. On 9 February 2018, Cadila Healthcare announced that the USFDA inspected its Moraiya facility from 5 February to 9 February, 2018. At the end of the inspection, no observation (483) was issued. On 8 March 2018, Cadila Healthcare announced that it has entered into a definitive agreement with Medicure International Inc., a subsidiary of Medicure Inc. (Medicure) to commercialize its 505(b)(2) New Drug Application (NDA) product, pitavastatin magnesium (ZYPITAMAGTM) in the United States. The launch of ZYPITAMAG, which is used to manage cholesterol levels, marks the first branded product launch for the company in the US. Medicure is a US pharmaceutical company and has a proven track-record of successful commercialization of products in the therapeutic segments of cardiovascular and metabolic diseases. As a part of this agreement, Cadila Healthcare will hold the NDA and Medicure will be responsible for the sales and marketing of ZYPITAMAG. On 28 March 2018, Cadila Healthcare announced that the USFDA inspected its Topical manufacturing facility located at Changodar, Ahmedabad from 22 March to 28 March 2018. At the end of the inspection, no observation (483) was issued.

Cadila Healthcare Ltd Chairman Speech

Dear Shareowners,

We are passing through some difficult times. Families, communities, neighbourhoods and economies have all been impacted by this unprecedented healthcare crisis of COVID-19. The pandemic has shaken up the very core of our existence and reminded us of how precious good health is and how we must do everything we can to safeguard it. In this 25th year of our existence as an organisation it has only reinforced our resolve to continue working towards the mission of creating healthier communities through innovation, making therapies accessible and bridging unmet healthcare needs.

The deep expertise and capabilities that we have developed through the year have enabled us to support the nation and the world in the fight against COVID-19. Our Company has been at the forefront, contributing with therapeutics, vaccines and diagnostics.

Our vaccine research team swung into action in February 2020, working on a vaccine in which the plasmid DNA would be introduced into the host cells. Once this is done, it would be translated into the viral protein and elicit a strong immune response mediated by the cellular and humoral arms of the human immune system, which play a vital role in protection from disease as well as viral clearance. After a crucial pre-clinical stage, where the vaccine ZyCoV-D was found to be safe, immunogenic and well tolerated, we have received the permission from the Drug Controller General of India (DCGI) and Central Drugs Standard Control Organisation (CDSCO) to initiate the Adaptive Phase I/II human clinical trials. We are extremely thankful for the support extended by National Biopharma Mission (BIRAC), Department of Biotechnology, Government of India and

regulatory agencies ICMR and DCGI, in this journey. With the human dosing underway, we hope that our quest to provide a safe and efficacious vaccine to prevent COVID-19 is a fruitful one.

Even as the country wide lockdown was first announced, pharmaceutical manufacturing was placed under essential services as it was necessary for uninterrupted supplies of medicines. In these early days when the world at large was in search of a cure, a team of French researchers produced clinical evidence of hydroxychloroquine (HCQ) proving to be successful in the treatment of COVID-19 and some European and South Korean hospitals included HCQ as a part of the treatment protocol for the treatment of COVID-19. As one of the largest producers of HCQ in the world, we knew that we had to support the call for this therapy. Our teams swung into action and took the call of ramping up the production from 3 metric tonnes to 20 metric tonnes and subsequently scalable to 30 metric tonnes. We ensured supplies to the Government in India and also to the other countries as mandated. With our robust manufacturing infrastructure, agile working capabilities and a dedicated workforce we were ready to face the challenges and devote all our resources to navigate through these difficult circumstances.

Tracking every possibility of a cure, our team found interesting research data in the two non-peer reviewed research articles at bioRxiv and medRxiv, the COVID-19 pre-print servers hosted by Cold Spring Harbor Laboratory. The first one by the University of Texas Medical Branch, Galveston, showed an evidence of a direct anti-viral effect of Interferon alpha against novel Coronavirus in vitro. The study demonstrated around 10,000 fold reduction in virus titre in cells that were pre-treated with Interferon alpha 48 hours earlier. The second by a group of universities in China, Australia and Canada retrospectively analysed 77 moderate COVID-19 subjects in Wuhan and observed that those who received Interferon alpha-2b showed a significant reduction in the duration of virus shedding period and even in levels of the inflammatory cytokine, IL-6. This suggests that if a long-acting molecule like Pegylated Interferon alpha is given early on in the infection, the patient suffering from COVID-19 will have a significant benefit as the viral load is reduced, lesser IL-6 is produced and virus eliminating specific immune response is generated. Following up on this, we approached the USFDA to open an Investigational New Drug (IND) filing for Pegylated Interferon alpha-2b and explore possibility for Compassionate Use Programme and also approached the Department of Biotechnology, Government of India to investigate the role of Pegylated Interferon alpha-2b for COVID-19. Even as the clinical trials get underway in India, we have received permissions from COFEPRIS to conduct clinical trials in Mexico. Pegylated Interferon alpha 2b is already being manufactured by our Company and we have the capabilities to manufacture this in a large scale. While grappling to cope with a pandemic, testing and surveillance

are most critical tools. Our Company collaborated with ICMR-NIV, Pune to manufacture Covid Kavach Elisa test kits which are the first indigenously manufactured kits for COVID-19. The test was found to have high sensitivity and specificity and also have the advantage of testing 90 samples together in a single run of 2.5 hours. In all 30,000 test kits were manufactured and supplied to ICMR free of cost.

As we study the disease patterns and more findings come to the fore, newer pathways are being explored. To study the Novel mechanism of targeting ‘hypoxia' through HIF-PH inhibitor in COVID-19 for the very first time, we approached COFEPRIS to conduct clinical trials in Mexico. These trials are now underway and we are conducting a Phase 2b, Multicenter, Open-label, Randomized, Comparator - Controlled Study to Evaluate the Efficacy and Safety of Desidustat Tablet for the Management of COVID-19 patients. Desidustat, is currently undergoing Phase III clinical development, is a novel oral HIF-PH inhibitor for treating Anemia.

A well experienced team to closely assess scenarios and actively monitor situation on the ground across geographies and our ability to rally around in a crisis and look for solutions helped us make positive contributions in this fight. We have been putting all our might to fight the healthcare crisis and will continue to do everything we can to fight this pandemic.

We are grateful to all the stakeholders - our customers, partners, suppliers, vendors who supported us in this fight. Our team of 25,000 Zydans who have worked tirelessly through these months to resolve concerns and ensured that we are able to deliver medicines in India and across the world. I am especially proud of these champions at work who showed steely resolve and courage and defied the odds to continue their critical work in these times. Their dedication to serve deserves our heartfelt thanks.

I also want to thank all the medical professionals and the medical fraternity at large for their selfless work in caring for those infected with the virus. Your care has given a new lease of life to many who survived the health scare.

In this financial year that has been dripped with the scare of the pandemic, there has also been a silver lining. The search for the elusive cure for Non Alcoholic Steato Hepatitis or NASH, an unmet healthcare need globally, ended with Saroglitazar becoming the first drug in the world to be approved for this indication. The Drug Controller General of India granted approval for the drug to be used for the treatment of NASH ranks as one of the major causes of cirrhosis, behind hepatitis C and alcoholic liver disease and is a leading cause of liver transplant.

Bringing more innovation to life and commitment to create healthier communities with patient-centric approaches, will be our overarching purpose as we move beyond our silver years to a new decade.

Pankaj R. Patel
Chairman
July 17, 2020

   

Cadila Healthcare Ltd Company History

Cadila Healthcare Ltd is a well known research-oriented, technology-driven pharmaceutical company focused on the research areas of biotechnology, formulations and Active Pharmaceutical Ingredients. They are an Indian based pharmaceutical company having their presence around the world. They are having their manufacturing facilities at Ahmedabad, Ankleshwar and Vadodara in Gujarat, Ponda in Goa, Raigad in Maharashtra and Solan in Himachal Pradesh. Cadila Healthcare Ltd, the flagship of Zydus Cadila Group was incorporated in May 1995 and they became a public limited company in July 1996. The company's operation includes pharmaceuticals, which includes human formulations, veterinary formulations and bulk durgs, diagnostics, herbal products, skin care products and OTC products. In the year 1996, the company made a strategic alliance with Gulin Pharma of China and launched Falcigo in India, which is an anti-malarial segment. In May 2000, the company acquired formulation business of Recon Ltd, which strengthens the company in the southern market. In the year 2001, they acquired German Remedies which was the largest M&A in the Indian Pharmaceutical sector and in the same year, they entered into a joint venture with US based Onconova for collaborative research in the field of Oncogenomics. In April 2002, the company acquired Banyan Chemicals, a Vadodara based company with the US FDA approved plant. In the year 2003, German Remedies, Recon Healthcare, Zoom Properties and Zydus Pathline merged with the company. Also, they acquired Alpharma France, which spearheaded the group operations in France. In the same year, the company emerged as a 'Partner of Choice' for Schering AG to manufacture and market the products in India. In November 2004, the company entered into a strategic alliance with Zambon Group in Italy to open up new avenues in contract manufacturing. In the same year, the company entered into a long term strategic pact with Boehringer Ingelheim India Ltd, a wholly owned subsidiary of Boerhringer Ingelheim (BI) to manufacture and market BI's products in India. In the year 2005, the company entered into a strategic alliance with Mallinckrodt Pharmaceuticals Generics, a business unit of Tyco Healthcare to market the product manufactured by the company under a joint label. In the same year, the company signed a 50:50 joint venture with Mayne Pharma of Australia to manufacture generic injectable, cytotoxic (anti-cancer) medicines as well as active pharmacetical ingredients (API) for global markets. During the year 2005-06, the company signed a 50:50 joint venture with one of India's top biotech companies Bharat Serums and Vaccines Ltd (BSV) and formed Zydus BSV Pharma Pvt Ltd to develop, manufacture and market non-infringing and proprietary Novel Drug Delivery System (NDDS) of an approved anti-cancer product for global markets. During the year 2006-07, the company entered into share purchase agreement to acquire 97.95% stake in Liva Healthcare Ltd, which is carrying on business of manufacturing and marketing of Formulations. They established a green field facility for Solid Oral Dosage Forms in Sikkim mainly for domestic market. They also installed Lyophilisation facility at Moraiya plant with annual capacity of 7.5 million dosages to cater to both Indian and International markets. During the year 2007-08, the company restructured their formulation division namely Alidac and launched two new sub division namely Corza and Fortiza. Also, they forayed into the neutraceutical industry and launched a new division, Zydus Nutriva. The upgradation of the injectibles facility at Moraiya was completed and also, they expanded their manufacturing facility at Ankleshwar. Zydus Healthcare Brasil Ltd, Brazil, a wholly owned subsidiary of the company, acquired 100% shareholding of Quimica e Farmaceutica Nikkho Do Brasil Ltda, a Brazilian Pharmaceutical company, to expand their branded business in Brazil. Also, Zydus Pharmaceuticals Inc, Japan, a wholly owned subsidiary of the company, acquired 100% shareholding in Nippon Universal Pharmaceuticals Co Ltd, Japanese Company, which is carrying out business of manufacturing and marketing of pharmaceutical products in Japan. In February 2008, the company and Karo Bio of Sweden made a three year strategic collaboration in the area of drug discovery and development. In May 2008, the company entered into Spain with the acquisition of 100% stake in Laboratories Combix. In June 2008, the company through their wholly owned subsidiary, Zydus Healthcare SA Pty Ltd is acquiring majority state of 70% in Simayla Pharmaceuticals of South Africa. The company decided to demerge the Consumer Products Division of the company and transferred to Carnation Nutra Analogue Foods Ltd, which is a subsidiary of Cadila Healthcare and the merger of Zydus Hospital and Medical Research Pvt Ltd with the company. In August 2008, the company entered into an agreement with WHO to explore a possible collaboration in the development of a cocktail for the treatment of rabies, through the use of monoclonal antibodies. The Board of Directors of Cadila Healthcare and Carnation Nutra-Analogue Foods Ltd. at their respective meeting held on 4 July 2008 approved the modalities of the composite scheme of arrangement for restructuring of the consumer products division of Cadila Healthcare. The board approved the demerger of the consumer products division of Cadila Healthcare into Carnation, which is a subsidiary of Cadila Healthcare and the merger of Zydus Hospital and Medical Research Pvt. Ltd. (ZHMRPL) with Cadila Healthcare. As consideration, Carnation will allot to the shareholders of Cadila Healthcare 4 fully paid-up equity shares of Rs 10 each for every 15 equity shares of Rs 5 each held in Cadila Healthcare. On 28 January 2011, Cadila Healthcare and Bayer HealthCare announced that they have signed an agreement to set up the Joint Venture Company Bayer Zydus Pharma for the sales and marketing of pharmaceutical products in India. Each party will hold 50 percent of the shares of Bayer Zydus Pharma, headquartered in Mumbai, and be equally represented on its management board. Bayer Zydus Pharma will start operations with Bayer HealthCare's Pharmaceutical Division contributing its existing sales and marketing business in India to the new company and Cadila Healthcare contributing its women's healthcare products, diagnostic imaging business and other products. Bayer Zydus Pharma will operate in key segments of the Indian pharmaceuticals market with a focus on women's healthcare, metabolic disorders, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments and oncology. On 17 June 2011, Cadila Healthcare announced that Zydus Pharmaceuticals USA Inc., through its subsidiary Zynesher Pharmaceuticals USA LLC has entered into an agreement to acquire the assets of the US based pharmaceutical company Nesher Pharmaceuticals Inc. Nesher operates as the generic subsidiary of KV Pharmaceutical, based at St. Louis, Missouri, USA. The financial details of the agreement were not disclosed. Nesher has considerable expertise in niche therapies which have development or production barriers, such as controlled release medications or DEA-controlled substances. The broad-based assets purchase agreement includes assets and assumption of certain liabilities, Nesher's existing and pipeline ANDAs, certain manufacturing facilities and a full fledged research and development lab. With this, Zydus will now be able to manufacture and distribute generic controlled substances in the US market, which otherwise cannot be imported. On 1 April 2011, Cadila Healthcare announced that it has ended the financial year 2010-11 on a high note, taking its revenues beyond the $1 billion mark. On 27th July 2011, Cadila Healthcare announced that its 100% subsidiary Zydus Animal Health Limited (AHL) has signed a Share Purchase Agreement with ICICI Venture, to acquire 100% shareholding of Finest Procuring Solutions Limited, which in turn holds 100% shareholding of Bremer Pharma GmbH, of Germany. The agreement includes the transfer of all key assets, people, brands and export contracts of Bremer - a global animal health company headquartered in Warburg-Scherfede, Germany. The acquisition will help Zydus AHL expand its animal health business and gain strategic access to the key markets across Europe, South America, Asia and Africa. On 21 December 2011, Cadila Healthcare announced the acquisition of 100% stake in Biochem, one of the top 40 pharma companies in India. A privately-held company headquartered in Mumbai, Biochem is a well-integrated pharma player with a presence in the antibiotics, cardiovascular, anti-diabetic and oncological segments. Biochem has reported sales of Rs 264.5 crore for the year 2010-2011. On 18 July 2012, Zydus Urosciences, the specialty division of Cadila Healthcare, announced the launch of Udenafil, a next generation therapy for erectile dysfunction, for the first time in India. The group has an exclusive license to market this patented molecule developed by Dong-A Pharmaceuticals of Korea, in India. On 25 July 2013, Cadila Healthcare and IDRI, a Seattle-based non-profit research and product development organization, announced that they are collaborating on the production and clinical development of IDRI's visceral leishmaniasis (VL) vaccine candidate, designed to prevent the deadly parasitic disease. Known as Kala-Azar in India, VL is transmitted by the bite of an infected sand fly. Cadila Healthcare and IDRI will collaborate to conduct clinical development activities in India with the goal of developing, registering and marketing this vaccine candidate for the prevention of VL, which will achieve the objective of global access - that is, ensuring the vaccine is affordable to and accessible by all people in need. Conducting trials in India, where there are real-life situations of disease exposure, is critical to determining the effectiveness of IDRI's VL vaccine candidate and ensuring it is approved and available within endemic countries. On 16 October 2013, Cadila Healthcare and Pieris AG, a next generation therapeutic protein R&D company, announced that they have entered into an alliance for development and commercialization of multiple novel Anticalin-based protein therapeutics. The collaboration combines Pieris' drug discovery and early development capabilities with Cadila's expertise in biologics development, regulatory affairs and biologics manufacturing. Under the terms of the agreement, Cadila Healthcare will take the lead in advancing Anticalin drug candidates through formal preclinical development and into clinical development, undertaking drug development in accordance with ICH guidelines. Cadila Healthcare has been granted exclusive marketing rights in India and several other emerging markets, while Pieris retains exclusive marketing rights in key developed markets. On 15 September 2014, Cadila Healthcare and Gilead Sciences, Inc. announced that they have signed a non-exclusive licensing agreement which will allow the generic manufacture of sofosbuvir and the investigational single tablet regimen of ledipasvir/sofosbuvir for distribution in 90 developing countries, including India. Under the licensing agreement, Cadila Healthcare will receive a complete technology transfer of the Gilead manufacturing process to enabling production to be scaled up as quickly as possible. Zydus will set its own prices for the generic product, paying a royalty on sales to Gilead to support product registrations, medical education and training, safety monitoring and other business essential activities. The licenses also permit the manufacture of sofosbuvir or ledipasvir in combination with other chronic hepatitis C medicines. On 9 December 2014, Cadila Healthcare announced that it has become the first company in the world to launch the biosimilar of Adalimumab - the world's largest selling therapy. Developed by the researchers at the Zydus Research Centre, the biosimilar has been approved by the Drug Controller General of India and will be marketed under the brand name, Exemptia to treat auto immune disorders such as rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, and Ankylosing Spondylitis. On 17 March 2015, Cadila Healthcare announced the launch of SoviHep - the breakthrough therapy for Hepatitis C in alliance with Gilead Sciences, Inc. SoviHep will provide succour to more than 10 million patients who suffer from Hepatitis C in India. The therapy will be marketed by the specialty division of the group, Zydus Heptiza. Zydus and Gilead Sciences, Inc. had signed a non-exclusive licensing agreement which will allow the manufacture of sofosbuvir and the fixed-dose combination of ledipasvir/sofosbuvir for distribution in 91 countries including India. On 31 December 2015, Cadila Healthcare announced that the company has received a warning letter by the USFDA relating to its Moraiya formulation facility and Ahmedabad API facility (Zyfine). In a statement, Cadila Healthcare said that the company is working hard to ensure that the commitments made to the USFDA are fully completed. The company will continue to take all necessary steps to ensure that the USFDA is fully satisfied with the company's remediation measures for these two manufacturing facilities. There are no products in the US market which use API of Zyfine facility. On 5 January 2016, Cadila Healthcare announced the strategic acquisition of select brands and the manufacturing operations in Haridwar, India, of Zoetis, a global animal health company. The acquisition will help Cadila Healthcare expand its animal health business in India and gain access to manufacturing operations which have also been catering to global markets. The financial details of the deal were not disclosed. As a result of this acquisition, Cadila gains access to a wide range of nutrition as well as therapeutic products which have strong brand equity and a combined turnover of Rs 171 crore. A major boost to the company's portfolio would be the addition of livestock farmcare products which are well accepted in the market. An access to the WHO GMP approved manufacturing facility is expected to boost Cadila's exports and institutional business. The plant spread over 10,000 sq. metres manufactures Tablets, Liquid Orals and Injectables. On 19 February 2016, Cadila Healthcare announced that it has received approval from the USFDA to market Doxycycline Capsules USP, 50 mg, 75 mg, and 100 mg. The drug falls in the anti-bacterials segment. With this first approval, the group will now commence supplies to the US market from its formulation manufacturing facility located at the SEZ in Ahmedabad. On 28 March 2016, Cadila Healthcare announced that its wholly owned subsidiary Zydus Healthcare Limited has entered into a definitive agreement to acquire Actibile' from Albert David Limited (ADL). The brand falls in the gastroenterology segment and is used for dissolving gall bladder stones. The deal will be financed through internal accruals. On 15 June 2016, Cadila Healthcare announced that it has signed a strategic collaboration agreement with Eczacibasi Ila Pazarlama A.S. a leading healthcare company of Turkey, to market biotech products in the Turkish market. The agreement involves the import of biosimilars which are currently unavailable in the country especially for the treatment of cancer and also paves the way for a long term strategic collaboration to produce and launch new products in the market. On 20 June 2016, Cadila Healthcare announced that it has strengthened its US portfolio with the acquisition of two ANDAs from Teva that are being divested by Teva as a pre-condition to its acquisition of Allergan's generic business. The acquisition of these ANDAs is contingent on the closing of the Teva-Allergan Generics transaction and approval by the US Federal Trade Commission. The financial details of the transaction were not disclosed. These ANDAs have been acquired by its 100% subsidiary, Zydus Worldwide DMCC and the transaction will be financed through internal accruals. The acquired portfolio comprises an ANDA which is already commercialised and one pipeline ANDA which is a transdermal patch. The estimated market size of the two ANDAs put together is nearly US$ 200 million. On 7 July 2016, Cadila Healthcare announced that it has signed a non-exclusive, royalty free agreement with The Medicines Patent Pool (MPP) for the generic production of Bristol-Myers Squibb's daclatasvir, a novel direct-acting antiviral (DAA) that is proven to help cure multiple genotypes of the Hepatitis C Virus (HCV). The agreement sub-licences Cadila to produce and sell daclatasvir in 112 low and middle income countries. The MPP licence allows generic manufacturers to develop fixed-dose combinations that offer the potential to treat all of the six major genotypes of HCV. On 20 September 2016, Cadila Healthcare and Takeda Pharmaceutical Company Limited announced a partnership to tackle chikungunya, an emerging infectious disease. The chikungunya virus is most often spread to people by Aedes aegypti and Aedes albopictus mosquitoes, the same vectors that spread dengue and zika. The broad-based agreement includes early stage development to the final commercialisation of the vaccine. There is currently no vaccine to prevent or medicine to treat chikungunya virus infection. On 30 September 2016, Cadila Healthcare and Medicines for Malaria Venture (MMV) announced a collaboration to develop the investigational antimalarial compound MMV674253. Cadila Healthcare will lead the development of the novel compound and MMV will provide support including scientific expertise and access to tools in the field of malaria drug development and delivery. The aim of the collaboration is to provide an effective alternative to the current front-line antimalarial drugs for the treatment of uncomplicated P. falciparum malaria, artemisinin-based combination therapies (ACTs), which are under threat of resistance. On 28 December 2016, Cadila Healthcare announced that its wholly owned subsidiary company Zydus Healthcare Limited (Zydus) has acquired six brands from MSD and its subsidiaries. The brands are DECA-DURABOLIN, DURABOLIN, SUSTANON, MULTILOAD, SICASTAT and AXETEN range, which fall in the men's health, women's health, wound management and cardiovascular therapy segments, respectively. The deal includes transfer of distribution and commercialization rights and assignment of trademarks of all the six brands to Zydus Healthcare Limited in India. As a part of the deal, Organon (India) Private Limited, one of the legal subsidiaries through which MSD operates its business in India, has also transferred the distribution and commercialization rights for DECA-DURABOLIN and DURABOLIN to Zydus for Nepal. Financial details of the deal were not disclosed. The strategic brands' acquisition will strengthen Cadila's portfolio in key therapeutic segments. The acquired portfolio had clocked sales of Rs 84 crore in 2015. On 19 January 2017, Cadila Healthcare announced that it has acquired Sentynl Therapeutics Inc., a US based specialty pharma company specialized in marketing of products in the pain management segment. The transaction will be EPS accretive. With this acquisition, Cadila Healthcare makes a foray into the specialty pain market in the US valued at $8 billion. It gains access to the specialty distribution network and a large prescriber base. Sentynl provides healthcare professionals with treatment solutions that enable them to meet the needs of individual patients. This acquisition will also enable Cadila Healthcare to leverage its existing assets in the US. The acquisition was solely funded by Bank of Tokyo-Mitsubishi UFJ. On 23 February 2017, Cadila Healthcare announced that the USFDA has approved the group's plans to initiate a Phase 2 clinical trial of Saroglitazar Magnesium (Mg) in patients with Primary Biliary Cholangitis (PBC) of the liver. This randomized, double-blind Phase 2 trial will evaluate Saroglitazar Magnesium 2mg and 4 mg Vs. Placebo. PBC is a liver disease caused due to progressive destruction of the bile ducts in the liver which leads to reduction of bile flow - a condition referred to as cholestasis. On 24 February 2017, Cadila Healthcare announced that it has received approvals from the Drug Controller General of India (DCGI), Central Drugs Standard Control Organization (CDSCO) and the Central Drug Laboratory (CDL) to market the Tetravalent Inactivated Influenza vaccine for seasonal flu, VaxiFlu - 4. With this, Cadila will become the first Indian pharma company and second in the world to launch a Tetravalent Inactivated Influenza vaccine. The vaccine provides protection from the four influenza viruses- H1N1, H3N2, Type B (Brisbane) and Type B (Phuket). VaxiFlu - 4 will be marketed by Zydus Vaxxicare - a division of the group focussing on preventives. On 21 June 2017, Cadila Healthcare announced that its formulations manufacturing facility at Moraiya, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The Moraiya manufacturing plant had completed the USFDA audit from 6 February to 15 February 2017 with zero 483 observations. Post the audit, the plant has received several product approvals, including the final approval to market Mesalamine Delayed- Release Tablets USP, 1.2 g in the US. On 5 July 2017, Cadila Healthcare announced the initiation of a phase II trial investigating ZYAN1, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI), as a treatment for anemia associated with chronic kidney disease (CKD). ZYAN1 is an oral small molecule that has been designed to inhibit hypoxia-inducible factor prolyl hydroxylase, and thereby increase the natural production of hemoglobin and RBCs in anemic patients. ZYAN1 has been shown to improve iron mobilization and has the potential to reduce or eliminate the need for iron supplementation. On 5 July 2017, Cadila Healthcare and Phibro Animal Health Corporation announced their intention to enter into a long-term arrangement to license Phibro's innovative poultry vaccine technologies and know-how to a new vaccine manufacturing facility to be built by Cadila to serve the fast growing poultry market in India. The availability of new advanced poultry vaccines, which were until now being imported into India, adds a new dimension to the Make-in-India movement in the animal health segment. On 12 July 2017, Cadila Healthcare announced its succession planning move with the appointment of Dr. Sharvil Patel as the managing director of the company. While Mr. Pankaj Patel will continue as the Chairman of the company, he has stepped down as the Managing Director. On 29 August 2017, Cadila Healthcare announced that its formulations manufacturing facility at Pharma SEZ, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The manufacturing plant had completed the USFDA audit from 16 to 24 January 2017. On 7 September 2017, Cadila Healthcare announced that the USFDA inspected its Moraiya facility from 31 August 2017 to 7 September 2017. At the end of the inspection, no observation (483) was issued. On 19 September 2017, Cadila Healthcare announced that it has entered into an exclusive agreement for the technology know-how for varicella vaccine production in the Russian Federation with Pharm Aid Ltd., headquartered in Russia. The exclusive agreement was signed at the BIOTECHMED conference in Gelendzhik, Russia. Pharm Aid Ltd, has been set up by Nacimbio together with Ishvan Pharmaceuticals Ltd., for the localization of innovative vaccine production in Russia. Through this agreement, Cadila Healthcare gains access to the public and private market segments in the Russian Federation, Belarus, Uzbekistan, Kazakhstan, Armenia and Kyrgyzstan. On 29 November 2017, Cadila Healthcare announced that the company has entered into a public private partnership with the Indian Council of Medical Research (ICMR) to launch new diagnostic kits, developed by ICMR's National Institute of Virology (NIV), Pune to detect neglected infectious diseases in livestock. The kits have been developed to detect infections in the animal population, as they often are the hosts or reservoirs, spreading the infection to humans who come in close contact with them. On 9 February 2018, Cadila Healthcare announced that the USFDA inspected its Moraiya facility from 5 February to 9 February, 2018. At the end of the inspection, no observation (483) was issued. On 8 March 2018, Cadila Healthcare announced that it has entered into a definitive agreement with Medicure International Inc., a subsidiary of Medicure Inc. (Medicure) to commercialize its 505(b)(2) New Drug Application (NDA) product, pitavastatin magnesium (ZYPITAMAGTM) in the United States. The launch of ZYPITAMAG, which is used to manage cholesterol levels, marks the first branded product launch for the company in the US. Medicure is a US pharmaceutical company and has a proven track-record of successful commercialization of products in the therapeutic segments of cardiovascular and metabolic diseases. As a part of this agreement, Cadila Healthcare will hold the NDA and Medicure will be responsible for the sales and marketing of ZYPITAMAG. On 28 March 2018, Cadila Healthcare announced that the USFDA inspected its Topical manufacturing facility located at Changodar, Ahmedabad from 22 March to 28 March 2018. At the end of the inspection, no observation (483) was issued.

Cadila Healthcare Ltd Directors Reports

Your Directors are pleased to present the Twenty Fifth Annual Report and the Financial Statements for the Financial Year ended on March 31, 2020. FINANCIAL HIGHLIGHTS:

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (“Ind AS”) notified under section 133 of the Companies Act, 2013 (“the Act”) read with Rule 7 of the Companies (Accounts) Rules, 2014.

The standalone and consolidated financial performance of the Company, for the Financial Year ended on March 31, 2020 is summarized below:

Particulars

Standalone

Consolidated

For the year ended on March 31, 2020 For the year ended on March 31, 2019 For the year ended on March 31, 2020 For the year ended on March 31, 2019
Revenue from Operations and other Income 71,968 65,967 1,43,670 1,33,667
Profit before Interest, Depreciation, Amortisation and Impairment Expenses & Tax (PBIDT) 22,205 21,891 25,337 31,742
Less: Finance Cost 2,339 896 3,418 1,935
Less: Depreciation, Amortisation and Impairment Expenses 4,289 3,582 6,965 5,986
Profit Before Tax (PBT) 15,577 17,413 14,954 23,821
Less: Tax Expenses 2,041 3,015 3,198 5,303
Profit After Tax (PAT) 13,536 14,398 11,756 18,518
Share of Profit of Joint Ventures (Net of Tax) - - 288 469
Profit for the year from continuing operations 13,536 14,398 12,044 18,987
Less : Loss after tax from discontinued operations 593 459 - -
Profit for the year 14,129 14,857 12,044 18,987
Attributable to:
Owners of the Parent 14,129 14,857 11,766 18,488
Non-Controlling Interests - - 278 499
Other Comprehensive (Loss) (Net of Tax) (220) (318) (3,005) (1,680)
Total Comprehensive Income 13,909 14,539 9,039 17,307
Attributable to:
Owners of the Parent 13,909 14,539 8,754 16,808
Non-Controlling Interests - - 285 499
Opening balance in Retained Earnings 66,457 58,127 83,334 67,677
Amount available for appropriation 80,533 70,049 94,693 90,031
Transferred to Debenture Redemption Reserve - - - 2,383
Dividend:
Dividend 7,166 3,583 7,166 3,583
Corporate Dividend Tax on Dividend (Net of CDT Credit) 7 9 1,403 731
Closing Balance in Retained Earnings 73,360 66,457 86,124 83,334
Earnings Per Share (EPS) from Continuing Operations (Face Value of shares of ' 1/- each) 13.22 14.06 11.49 18.06
Earnings Per Share (EPS) from Continuing and Discontinued Operations (Face Value of shares of ' 1/- each) 13.80 14.51 11.49 18.06

The Company proposes to retain an amount of ' 73,360 million in the Statement of Profit and Loss.

COVID-19:

The world has been witnessing an unprecedented crisis as a result of Covid-19. In today's trying times for the world in general and our nation in particular, our focus is on ensuring the safety of our employees and all other stakeholders while we continue to work both on treatment and prevention of the pandemic. The saving of lives and protecting livelihood both are of utmost importance to us.

In Zydus, we have created a group of senior management team to monitor the events happening in the external environment and take suitable preventive and corrective measures to ensure continued safety of employees. The team has prepared business continuity plan, disaster management plan and also established liquidity management office.

We are happy to mention that we have been doing whatever possible for the country in terms of fight against Covid-19. This includes, amongst others, selling HCQS to the Govt. of India at very reasonable prices, manufacturing Covid testing kits for ICMR and giving a set of 30000 tests free, partnering with Gilead for Remdesivir, working on Covid vaccines etc.

All our manufacturing facilities are operating at a reasonable capacity utilization and we are ensuring that our medicines are available to patients without interruptions. We have strengthened our supply chain with a specific focus on helping MSME parties in surviving the difficult times.

We have taken several steps aimed at ensuring the safety, which include work from home, social distancing in the office premises, sanitization of our office premises; plant locations and company vehicles, thermal screening for employees working at sites, providing sanitizers, masks, gloves etc. to employees. Apart from following all protocols and guidelines issued by global health organizations like WHO for Covid-19 we have come out with our own advisory for the employees for safety of our employees.

We also find certain near-term and mid-term opportunities including treatment medicines and vaccines. Our India branded formulation business is somewhat affected due to lockdown situation and we remain cautiously optimist about next 2 quarters of the Financial Year 2021. Meanwhile, we are also finding new ways of managing the business and have been working of changes in the business operating model, including the possibilities of using digital technology. Our focus on research and innovations remains intact and we promise to live by our slogan of “Dedicated to Life”.

RESULTS OF OPERATIONS:

During the year under review, the consolidated revenue from operations and other income was ' 143,670 Million. The Company has achieved consolidated Profit Before Tax of ' 14,954 Million and Profit After Tax of ' 12,044 Million. The Company achieved a consolidated total Comprehensive Income of ' 9,039 Million. The EPS on consolidated financials for the year ended on March 31, 2020 was ' 11.49.

DIVIDEND:

During the year under review, your Directors had declared and paid an interim dividend of ' 3.50 per equity share of face value ' 1/- each to the shareholders holding shares in physical form and whose names were

listed on the Register of Members of the Company as on March 24, 2020, being the Record Date fixed for the purpose. Those shareholders holding shares in electronic form were paid dividend as per the beneficiary data provided by the Depositories. Your Directors did not recommend final dividend. The Dividend Payout Ratio for the current year (inclusive of Corporate Dividend Tax on dividend distribution) is 72.85% of profits.

During the year, the unclaimed dividend pertaining to the dividend for the year ended March 31, 2012 was transferred to Investors Education and Protection Fund after giving notice to the members to claim their unpaid / unclaimed dividend.

As per SEBI Notification, the Company has formulated Dividend Distribution Policy, which is approved by the Board of Directors and is uploaded on Company's website www.zyduscadila.com. The link for the same is https://zyduscadila.com/wp-content/uploads/2017/05/ Dividend-Distribution-Policy-CHL.pdf.

SECRETARIAL STANDARDS:

The Company is in compliance with Secretarial Standards on Meetings of Board of Directors and General Meetings issued by the Institute of Company Secretaries of India.

MANAGEMENT DISCUSSION AND ANALYSIS (“MDA”):

MDA, for the year under review, as stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”) is presented in a separate section, which forms a part of the Annual Report.

CONSOLIDATED FINANCIAL STATEMENTS:

In accordance with the Ind AS-110 on Consolidation of Financial Statements read with Ind AS-28 on Accounting for Investments in Associates and Joint Ventures and as provided under the provisions of the Act read with Schedule III to the Act and Rules made thereunder and the Listing Regulations, the Audited Consolidated Financial Statements are provided in the Annual Report, which show the financial resources, assets, liabilities, income, profits and other details of the Company, its associate companies and its subsidiaries after elimination of minority interest, as a single entity.

SUBSIDIARY COMPANIES:

i. The Company has incorporated a new company in the name of Alidac Healthcare Limited (“AHL”), as a wholly owned subsidiary company, for manufacturing of human formulations in Special Economic Zone (“Pharmez”), Matoda, Ahmedabad. Later on, the name of AHL was changed to Zydus Pharmaceuticals Limited.

ii. A partnership firm was formed in the name of Recon Pharmaceuticals and Investments, in which Zydus Healthcare Limited (“ZHL”) and German Remedies Pharmaceuticals Private Limited (formerly known as Acme Pharmaceuticals Private Limited) (“GRPPL”) are 90% and 10% partners respectively. The said partnership firm carries on business of trading of pharmaceuticals and holding investments.

iii. The Company acquired 15% equity share capital of Zydus Technologies Limited (“ZTL”), in which the Company was already

holding 85% equity share capital. In view of the same, ZTL became a wholly owned subsidiary of the Company.

iv. The company acquired 15% common stock of Zydus Noveltech Inc., USA (“ZNI”), in which the Company was already holding 85% common stock. In view of the same, ZNI became a wholly owned subsidiary of the Company.

v. As provided in section 136 of the Act, the Balance Sheet, Statement of Profit and Loss and other documents of the subsidiary companies are not being attached with the Balance Sheet of the Company. The Company will make available free of cost the Audited Financial Statements of the subsidiary companies and the related detailed information to any member of the Company who may be interested in obtaining the same. The Financial Statements of the subsidiary companies will also be kept open for inspection at the Registered Office of the Company and that of the respective subsidiary companies. The Consolidated Financial Statements presented by the Company include financial results of its subsidiary companies.

vi. As provided under section 129(3) of the Act and Rules made thereunder, a statement containing the salient features of the financial statements of its subsidiaries in the format prescribed under the rules is attached to the financial statements. The policy relating to material subsidiaries, pursuant to the provisions of the Listing Regulations may be accessed on the Company's website at the link: https://zyduscadila.com/public/pdf/CHL_Policy_on_ Material_Subsidiary_Revised_February_7_2019.pdf.

AMALGAMATION AND RESTRUCTURING:

i. Scheme of Amalgamation of Zydus Technologies Limited (“ZTL”), Alidac Pharmaceuticals Limited (“APL”), Liva Pharmaceuticals Limited (“LPL”) and Dialforhealth India Limited (“DHIL”) with Cadila Healthcare Limited (“CHL” or “the Company”) (“Scheme 1”) was sanctioned by the Hon'ble National Company Law Tribunal, Bench at Ahmedabad (“NCLT”), vide its Order dated March 16, 2020. The Scheme was made effective from March 31, 2020. The Appointed Date for the Scheme 1 is April 1, 2019.

Pursuant to the above, ZTL, APL, LPL and DHIL, which were wholly owned subsidiary companies of the Company, were dissolved without being wound up and Equity Shares and Preference Shares held by the Company in each of ZTL, APL, LPL and DHIL got cancelled and stand extinguished. All assets and liabilities of ZTL, APL, LPL and DHIL were transferred to the Company.

Investments of DHIL in its subsidiary companies-Dialforhealth Greencross Limited (“DHGL”) and Dialforhealth Unity Limited (“DHUL”) became the investments of the Company. Hence, DHGL and DHUL became the subsidiary companies of the Company.

ii. Scheme of Demerger of Generic and Spectrum Division of Zydus Healthcare Limited (“ZHL”) into German Remedies Pharmaceuticals Private Limited (formerly known as Acme Pharmaceuticals Private Limited) (“GRPPL”) and their respective shareholders and creditors (“Scheme 2”) was sanctioned by NCLT vide its Order dated December 19, 2019. The Scheme was made effective from December 23, 2019. The Appointed Date for the Scheme 2 is April 1, 2019.

Pursuant to the above, Generic and Spectrum Division was demerged from ZHL and transferred and vested into GRPPL in consideration of issue and allotment of 63,32,797, 8% Optionally Convertible NonCumulative Redeemable Preference Shares of ' 100/- each, fully paid-up, of GRPPL to the Company.

iii. As a part of internal restructuring, Animal Healthcare Business (“AHB”) of the Company, which comprised of Animal Healthcare Established Markets Undertaking and Animal Healthcare Emerging Markets Undertaking, was transferred to Zydus Animal Health and Investments Limited (formerly known as Violio Pharmaceuticals and Investments Limited) (“ZAHL”), a wholly owned subsidiary company, pursuant to a Definitive Agreement entered into between the Company and ZAHL on March 11, 2020, on a going concern basis, without assigning values to individual assets and liabilities.

ZAHL issued the Private Placement Offer and Application Letter (“PPOAL”) to the Company to subscribe to 8% Non-Convertible Non-Cumulative Redeemable Preference Shares of ' 10/- each (“Preference Shares”), which was accepted by the company and was issued and allotted 227,33,50,000 Preference Shares at par, in exchange for transfer of AHB.

iv. Pursuant to two Definitive Agreements, one executed on April 16, 2020 and another executed on April 30, 2020, the Company sold 9,44,233 and 2,31,33,717 Equity Shares of ' 10/- each fully paid-up, respectively, representing in aggregate 51% of the total paid-up equity share capital of Windlas Healthcare Private Limited (“WHPL”) to Windlas Biotech Private Limited (“WBPL”).

Pursuant to the said divestment, the Company ceases to hold any equity shares in WHPL and consequently, ceases to hold interest in the subsidiary company of WHPL in USA-Windlas Inc. and in the JV company of WHPL in USA-US Pharma Windlas LLC.

INSURANCE:

The Company's plant, properties, equipments and stocks are adequately insured against all major risks. The Company has insurance cover for product liability and clinical trials. The Company has also taken Directors' and Officers' Liability Policy to provide coverage against the liabilities arising on them.

PUBLIC DEPOSITS:

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet.

COSTACCOUNTS AND RECORDS:

<p >The Company has made and maintained the cost accounts and records as specified by the Central Government under section 148(1) of the Act and rules made thereunder.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS:

Details of loans, guarantees and investments covered under section 186 of the Act are given in the notes to the financial statements.

FRAUDS:

During the year, no fraud was reported by the statutory auditors under section 143(12) of the Act.

RELATED PARTY TRANSACTIONS:

All contracts / arrangements / transactions entered into by the Company during the financial year with related parties were in the ordinary course of business and on an arm's length basis. As provided under section 134(3)(h) of the Act and Rules made thereunder disclosure of particulars of material transactions with related parties entered into by the Company in the prescribed format is annexed to this report as Annexure-A. Disclosures on related party transactions are set out in Note No. 40 to the financial statements.

The Policy on materiality of related party transactions and dealing with related party transactions may be accessed on the Company's website at the link: https://zyduscadila.com/public/pdf/Policy_on_Related_Party_ Transactions_and_dealing_with_Material_Related_Party_Transactions_ February_7_2019.pdf

DIRECTORS:

i) Appointment / Re-appointment of Directors:

Ms. Dharmishtaben N. Raval (DIN-02792246) was re-appointed as an Independent Director for the second consecutive term of 5 (five) years, by the shareholders, by way of a Special Resolution, at the Twenty Fourth AGM held on August 9, 2019, from the conclusion of Twenty Fourth AGM till the conclusion of Twenty Ninth AGM in the calendar year 2024.

Mr. Bhadresh K. Shah (DIN-00058177) was appointed as an Independent Director for a period of 5 (five) consecutive years w.e.f. December 6, 2018, by the shareholders, by way of an Ordinary Resolution, at the Twenty Fourth AGM held on August 9, 2019.

While appointing Mr. Bhadresh K. Shah and re-appointing Ms. Dharmishtaben N. Raval as IDs, the Board took into account the integrity, expertise and experience of them. They are not required to give online proficiency test as per the MCA circular dated October 22, 2019.

The Board of Directors, based on the recommendation of Nomination and Remuneration Committee, at its meeting held on June 19, 2020, approved the re-appointment of Mr. Ganesh N. Nayak (DIN:00017481) as the Whole Time Director, to be designated as Chief Operating Officer and Executive Director for a further period of one year w.e.f. July 12, 2020, subject to approval of shareholders at the ensuing AGM. His present appointment will expire on July 12, 2020.

ii) Cessation of ID:

As per the provisions of the Listing Regulations, the tenure of Mr. H. Dhanrajgir, ID (DIN-00004006) was extended till July 30, 2019. In view of the same, he ceased to be the Director of the Company after July 30, 2019.

iii) Retirement by rotation:

In accordance with the provisions of section 152(6) of the Act and in terms of the Articles of Association of the Company, Dr. Sharvil

P. Patel, Managing Director (DIN-00131995) and Mr. Pankaj R. Patel, Non-Executive Chairman (DIN-00131852) will retire by rotation at the ensuing AGM and being eligible, offers themselves for reappointment. The Board recommends their re-appointment.

iv) Declaration of independence:

The Company has received declarations of independence as stipulated under section 149(7) of the Act and regulation 16(b) of the Listing Regulations, as amended, from Independent Directors (“IDs”) confirming that they are not disqualified for continuing as an ID. There has been no change in the circumstances affecting their status as an ID.

All the Directors of the Company have registered themselves with the Indian Institute of Corporate Affairs (“MCA”). Further, as per the declarations received, none of the Directors of the Company are required to give online proficiency test as per the first proviso to Rule 6(4) of the MCA Notification dated October 22, 2019.

v) Profile of Directors seeking appointment / re-appointment:

As required under regulation 36(3) of the Listing Regulations, particulars of Directors seeking appointment / re-appointment at the ensuing AGM are annexed to the notice convening Twenty Fifth AGM.

vi) Key Managerial Personnel:

The following persons are the Key Managerial Personnel (“KMP”):

1. Dr. Sharvil P. Patel, Managing Director,

2. Mr. Ganesh N. Nayak, Executive Director*,

3. Mr. Nitin D. Parekh, Chief Financial Officer, and

4. Mr. Dhaval N. Soni, Company Secretary.

* re-ppointed as the Executive Director for a further period of one year w.e.f. July 12, 2020, subject to approval of shareholders at the ensuing AGM.

vii) Board Evaluation:

Pursuant to provisions of the Act and Rules made thereunder and as provided in Schedule IV to the Act and the Listing Regulations, the Nomination and Remuneration Committee / Board has carried out the annual performance evaluation of itself, the Directors individually as well as the evaluation of its committees. The manner in which the evaluation was carried out has been provided in the Corporate Governance Report, which is a part of this Annual Report.

viii) Nomination and Remuneration Policy:

The Board has, on the recommendation of the Nomination and Remuneration Committee, framed a policy on selection and appointment of Directors, Senior Management Personnel and their remuneration. The Remuneration Policy is stated in the Corporate Governance Report, which is a part of this Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT:

In terms of section 134(3)(c) of the Act and to the best of their knowledge and belief, and according to the information and explanations provided to them, your Directors hereby make the following statements:

(a) that in preparation of the Financial Statements, the applicable accounting standards have been followed along with proper explanations relating to material departures, if any,

(b) that such accounting policies have been selected and applied consistently and judgments and estimates made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on March 31, 2020 and of the profit of the Company for the year ended on that date,

(c) that proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for prevention and detection of fraud and other irregularities,

(d) that the annual financial statements have been prepared on going concern basis,

(e) that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively, and

(f) that the systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

TRANSFER OF SHARES TO INVESTOR EDUCATION AND PROTECTION FUND (“IEPF”):

In compliance with the provisions of section 124 and 125 of the Act and rules made thereunder, the Company has transferred 1,86,755 equity shares of 143 shareholders whose dividend has remained unclaimed / unpaid for a consecutive period of 7 (seven) years to the Investor Education and Protection Fund (“IEPF”).

BOARD MEETINGS:

Information of meetings of the Board of Directors is given in Corporate Governance Report, forming a part of this Annual Report.

AUDIT COMMITTEE:

As provided in section 177(8) of the Act, the information about composition of Audit Committee and other details are given in Corporate Governance Report, forming a part of this Annual Report. The Board has accepted the recommendations of the Audit Committee. The Audit Committee comprises of Mr. Nitin R. Desai, Chairman, Mr. Mukesh M. Patel, Ms. Dharmishtaben N. Raval, Mr. Apurva S. Diwanji, and Mr. Bhadresh K. Shah as members.

CORPORATE GOVERNANCE:

The Company has complied with the Corporate Governance requirements under the Act and as stipulated under the Listing Regulations. A separate section on detailed report on the Corporate Governance practices followed by the Company under the Listing Regulations, along with a certificate from Manoj Hurkat & Associates, practicing Company Secretaries, confirming the compliance forms a part of this Annual Report.

AUDITORS:

i) Statutory Auditors and Audit Report:

Deloitte Haskins & Sells LLP, Chartered Accountants (“Deloitte”), are appointed as the Statutory Auditors of the Company for a period of 5 (five) years from the conclusion of Twenty Second AGM till the conclusion of Twenty Seventh AGM.

Deloitte have furnished a declaration confirming their independence as well as their arm's length relationship with the Company and that

they have not taken up any prohibited non-audit assignments for the Company.

The Board has duly reviewed the Statutory Auditor's Report of Deloitte and the observations and comments, appearing in the report, are self-explanatory and do not call for any further explanation / clarification by the Board of Directors as provided under section 134 of the Act.

ii) Cost Auditors:

Pursuant to the provisions of section 148(3) of the Act read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the cost audit records maintained by the Company in respect of the Drugs and Pharmaceuticals are required to be audited. The Board had, on the recommendation of the Audit Committee, appointed Dalwadi & Associates, Cost Accountants to audit the cost records of the Company for the Financial Year 2020-2021 on a remuneration of ' 1.15 million plus applicable GST and out of pocket expenses on actuals. As required under the Act and Rules made thereunder, the remuneration payable to the Cost Auditors is required to be placed before the Members in a general meeting for ratification. Accordingly, a resolution seeking ratification by members for the remuneration payable to Dalwadi & Associates is included at Item No. 5 of the Notice convening Twenty Fifth AGM.

iii) Secretarial Auditors and Secretarial Audit Report:

Pursuant to the provisions of section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board has appointed Manoj Hurkat and Associates, a firm of Company Secretaries in Whole-time Practice to undertake the Secretarial Audit of the Company for the Financial Year 2019-2020. The Secretarial Audit Report is annexed herewith as Annexure-B. The Board has duly reviewed the Secretarial Auditors' Report and the observations and comments, appearing in the report are self-explanatory and do not call for any further explanation / clarification by the Board of Directors as provided under section 134 of the Act.

BUSINESS RESPONSIBILITY REPORTING:

As per regulation 34(2)(f) of the Listing Regulations, a separate section on Business Responsibility Reporting forms a part of this Annual Report.

CORPORATE SOCIAL RESPONSIBILITY (“CSR”):

Your Company, being a Pharmaceutical Company, having objective as “Dedicated to Life” has contributed for set-up and running of a Medical College and Hospital at Dahod, as a part of initiatives under “Corporate Social Responsibility” for the year under review. Pursuant to section 135 of the Act and the relevant rules, the Board has constituted a Corporate Social Responsibility (“CSR”) Committee under the Chairmanship of Mr. Pankaj R. Patel. The other members of the Committee are Ms. Dharmishtaben N. Raval and Dr. Sharvil P. Patel. CSR Policy has been framed and placed on the Company's website. Other details of the CSR activities, as required under section 135 of the Act, are given in the CSR Report at Annexure-C.

BUSINESS RISK MANAGEMENT:

Pursuant to the provisions of section 134(3)(n) of the Act and requirements under the Listing Regulations, the Company has constituted a Risk

Management Committee. The details of the Committee and its terms of reference are set out in the Corporate Governance Report, which forms a part of this Annual Report.

A well-defined risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process is in place. The objective of the mechanism is to minimize the impact of risks identified and taking advance actions to mitigate them. The mechanism works on the principles of probability of occurrence and impact, if triggered. A detailed exercise is being carried out to identify, evaluate, monitor and manage both business and non-business risks. The Company has formally framed a Risk Management Policy to identify and assess the key risk areas, monitor and report compliance and effectiveness of the policy and procedure.

Discussion on risks and concerns are covered in the Management Discussion and Analysis Report, which forms a part of this Annual Report.

INTERNAL CONTROL SYSTEM AND ITS ADEQUACY:

The Company has designed and implemented a process driven framework for Internal Financial Controls (“IFC”) within the meaning of the explanation to section 134(5)(e) of the Act. For the year ended on March 31, 2020, the Board is of the opinion that the Company has sound IFC commensurate with the size, scale and complexity of its business operations. The IFC operates effectively and no material weakness exists. The Company has a process in place to continuously monitor the same and identify gaps, if any, and implement new and / or improved internal controls whenever the effect of such gaps would have a material effect on the Company's operations.

MANAGING THE RISKS OF FRAUD, CORRUPTION AND UNETHICAL BUSINESS PRACTICES:

i) Vigil Mechanism / Whistle Blower Policy:

The Company has established vigil mechanism and framed Whistle Blower Policy for Directors and employees to report concerns about unethical behavior, actual or suspected fraud or violation of the Company's Code of Conduct or Ethics Policy and SEBI Insider Trading Regulations. Whistle Blower Policy is disclosed on the website of the Company.

ii) Zydus Business Conduct Policy:

The Company has framed “Zydus Business Conduct Policy” and is monitored by the Sr. Vice President-Human Resources. Every employee is required to review and sign the policy at the time of joining and an undertaking shall be given for adherence to the Policy. The objective of the Policy is to conduct the business in an honest, transparent and ethical manner. The policy provides for anti-bribery and avoidance of other corruption practices by the employees of the Company.

DISCLOSURE AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has zero tolerance towards sexual harassment at the workplace and has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder. The Company has constituted an Internal Complaints Committee as required under the said Act.

The Company always endeavors to create and provide an environment that is free from discrimination and harassment including sexual harassment. The Company has in place a robust policy on prevention of sexual harassment at workplace. The policy aims at prevention of harassment of employees as well as contractors and lays down the guidelines for identification, reporting and prevention of sexual harassment.

During the Financial Year 2019-2020, three complaints were received and all of them were resolved and no complaints were pending as on March 31, 2020. Out of the three cases, in two cases the respondents were recommended separation from the organization after the committee hearing and in one case the complainant did not have a case and the said complaint was found malicious and unsubstantiated.

EXTRACT OF ANNUAL RETURN:

As per the provisions of section 92(3) of the Act, an extract of the Annual Return in the prescribed form MGT-9 is attached as Annexure-D and the same is also available on the website of the company, the link of which is www.zyduscadila.com.

PARTICULARS OF EMPLOYEES:

The information required under section 197 of the Act read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is given in Annexure-E.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information on conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under section 134(3)(m) of the Act read with rule 8(3) of the Companies (Accounts) Rules, 2014, is provided in Annexure-F and forms a part of this Annual Report.

GENERAL DISCLOSURES:

Your Directors state that the Company has made disclosures in this report for the items prescribed in section 134(3) of the Act and rule 8 of the Companies (Accounts) Rules, 2014 to the extent the transactions took place on those items during the year.

Apart from what are mentioned in this report, there are no material changes and commitments affecting the financial position of the Company between the end of the financial year and the date of this report.

ACKNOWLEDGMENT:

Your Directors place on record their sincere appreciation for the continued co-operation and support extended to the Company by various Banks. Your Directors also thank the Medical Profession, the Trade and Consumers for their patronage to the Company's products. Your Directors also place on record sincere appreciation of the continued hard work put in by the employees at all levels. The Directors also thank the Company's vendors, investors, business associates, Stock Exchanges, Government of India, State Government and various departments and agencies for their support and co-operation.

On behalf of the Board of Directors
Place : Ahmedabad Pankaj R. Patel
Date : June 19, 2020 Chairman

   

Cadila Healthcare Ltd Company Background

Pankaj R PatelSharvil P Patel
Incorporation Year1995
Registered OfficeZydus Corporate Park S No 536,Khoraj Sarkhej-Gandhinagar H/W
Ahmedabad,Gujarat-382481
Telephone91-079-26868100,Managing Director
Fax91-079-26868337/26862365/26862366
Company SecretaryDhaval N Soni
AuditorDeloitte Haskins & Sells LLP
Face Value1
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarLink Intime India Pvt Ltd
5th Floor 506 to 508,ABC-I Off C G Road ,Navrangpura ,Ahmedabad-380009

Cadila Healthcare Ltd Company Management

Director NameDirector DesignationYear
Pankaj R Patel Chairman 2020
Sharvil P Patel Managing Director 2020
Mukesh M Patel Director 2020
Nitin Raojibhai Desai Independent Director 2020
Dharmishta N Rawal Independent Director 2020
Apurva S Diwanji Independent Director 2020
Ganesh N Nayak Executive Director 2020
Bhadresh K Shah Independent Director 2020
Dhaval N Soni Company Secretary 2020

Cadila Healthcare Ltd Listing Information

Listing Information
BSE_500
BSE_HC
BSE_200
BSEDOLLEX
NIFTYJR
CNX500
CNXPHARMA
CNX100
CNX200
NFT100EQWT
BSEALLCAP
BSELARGECA
LMI250
BSEDSI
BSEMOI

Cadila Healthcare Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Products NA 0005967.7
Export Incentives NA 000174.3
Other Operating Revenues NA 000115.9
Contract Manufacturings NA 00071.3
Foreign Exchange gain NA 00018.2
Vaccines NA 0000
Bulk Drugs NA 0000
Aerosols NA 0000
Capsules NA 0000
Dry Syrups/Powders NA 0000
Dry Syrups/Powders/InjectablesNA 0000
Injections NA 0000
Lyophised Injections NA 0000
Ointment NA 0000
Tablets NA 0000
Cosmetics NA 0000
Liquids NA 0000
Others NA 0000
Suppositories NA 0000
Transdermals NA 0000
Sales NA 0000

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