Torrent Pharma
Creating value, driving growth
3 7 th A N N U A L R E P O R T 2 0 0 9 - 2 0 1 0
37th ANNUAL REPORT 2009-10
Torrent Pharmaceuticals Limited
2
N TE CO N
TS
Corporate Information 02 Notice 03 Directors’ Report 06 Report on Corporate Governance 14 Auditors’ Report 24 Audited Financial Statements 28 Management Discussion and Analysis 55 Consolidated Financial Statements 66
37th ANNUAL REPORT 2009-10
3
CORPORATE INFORMATION
DIRECTORS
Sudhir Mehta
Chairman
REGISTERED OFFICE
Torrent House,
Markand Bhatt S. H. Bhojani Dr. Prasanna Chandra Kiran Karnik Sanjay Lalbhai Dr. C. Dutt
Director (Research & Development)
Off Ashram Road, Ahmedabad – 380 009 Telephone : 079-26585090 Fax : 079-26582100
MANUFACTURING FACILITIES
1) 2) Village Indrad, Taluka Kadi, Dist. Mehsana (Gujarat) Village Bhud, Baddi, Teh. Nalagarh, Dist. Solan (Himachal Pradesh)
Samir Mehta
Managing Director
AUDIT COMMITTEE
Dr. Prasanna Chandra
Chairman
SIKKIM PROJECT SITE
32 No. Middle Camp, NH - 31A, East District, Gangtok (Sikkim)
S. H. Bhojani Kiran Karnik
RESEARCH & DEVELOPMENT FACILITY
Village Bhat, Dist. Gandhinagar (Gujarat)
SECURITIES TRANSFER & INVESTORS’ GRIEVANCE COMMITTEE
Sudhir Mehta
Chairman
WEBSITE www.torrentpharma.com REGISTRARS & TRANSFER AGENTS
Karvy Computershare Private Ltd., Unit : Torrent Pharmaceuticals Limited, Plot No. 17 to 24, Vittalrao Nagar, Madhapur, Hyderabad 500 081 Telephone : 040-44655000, Fax : 040-23420814 Email : einward.ris@karvy.com
Markand Bhatt Samir Mehta
VP (LEGAL) & COMPANY SECRETARY
Mahesh Agrawal
AUDITORS
C.C. Chokshi & Co.
Chartered Accountants (Registration No. 101876W)
INVESTOR SERVICES E-MAIL ID investorservices@torrentpharma.com 2
NOTICE
NOTICE IS HEREBY GIVEN THAT THE THIRTY SEVENTH ANNUAL GENERAL MEETING OF THE MEMBERS OF TORRENT PHARMACEUTICALS LIMITED will be held on Friday, 30th July, 2010 at 09:30 AM at J. B. Auditorium, Torrent AMA Center, Ground
3 7 th A N N U A L R E P O R T 2 0 0 9 - 2 0 1 0
37th ANNUAL REPORT 2009-10
Torrent Pharmaceuticals Limited
2
N TE CO N
TS
Corporate Information 02 Notice 03 Directors’ Report 06 Report on Corporate Governance 14 Auditors’ Report 24 Audited Financial Statements 28 Management Discussion and Analysis 55 Consolidated Financial Statements 66
37th ANNUAL REPORT 2009-10
3
CORPORATE INFORMATION
DIRECTORS
Sudhir Mehta
Chairman
REGISTERED OFFICE
Torrent House,
Markand Bhatt S. H. Bhojani Dr. Prasanna Chandra Kiran Karnik Sanjay Lalbhai Dr. C. Dutt
Director (Research & Development)
Off Ashram Road, Ahmedabad – 380 009 Telephone : 079-26585090 Fax : 079-26582100
MANUFACTURING FACILITIES
1) 2) Village Indrad, Taluka Kadi, Dist. Mehsana (Gujarat) Village Bhud, Baddi, Teh. Nalagarh, Dist. Solan (Himachal Pradesh)
Samir Mehta
Managing Director
AUDIT COMMITTEE
Dr. Prasanna Chandra
Chairman
SIKKIM PROJECT SITE
32 No. Middle Camp, NH - 31A, East District, Gangtok (Sikkim)
S. H. Bhojani Kiran Karnik
RESEARCH & DEVELOPMENT FACILITY
Village Bhat, Dist. Gandhinagar (Gujarat)
SECURITIES TRANSFER & INVESTORS’ GRIEVANCE COMMITTEE
Sudhir Mehta
Chairman
WEBSITE www.torrentpharma.com REGISTRARS & TRANSFER AGENTS
Karvy Computershare Private Ltd., Unit : Torrent Pharmaceuticals Limited, Plot No. 17 to 24, Vittalrao Nagar, Madhapur, Hyderabad 500 081 Telephone : 040-44655000, Fax : 040-23420814 Email : einward.ris@karvy.com
Markand Bhatt Samir Mehta
VP (LEGAL) & COMPANY SECRETARY
Mahesh Agrawal
AUDITORS
C.C. Chokshi & Co.
Chartered Accountants (Registration No. 101876W)
INVESTOR SERVICES E-MAIL ID investorservices@torrentpharma.com 2
NOTICE
NOTICE IS HEREBY GIVEN THAT THE THIRTY SEVENTH ANNUAL GENERAL MEETING OF THE MEMBERS OF TORRENT PHARMACEUTICALS LIMITED will be held on Friday, 30th July, 2010 at 09:30 AM at J. B. Auditorium, Torrent AMA Center, Ground