1.pfizer Limited Annual Report 2014-15

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Currency: ` in lakhs
Particulars Nov Nov Nov Nov Nov Mar Mar Mar Mar Mar
2005 2006 2007 2008 2009 2011 2012 2013 2014 2015
# ** ^ 16 months @ $
Sources of Funds
Shareholders' Funds
Share Capital 2,984 2,984 2,984 2,984 2,984 2,984 2,984 2,984 2,984 4,575
Reserves and Surplus 34,672 37,589 61,880 86,972 96,449 113,360 127,486 166,458 62,857 192,726
Total Shareholders' Funds 37,656 40,573 64,864 89,956 99,433 116,344 130,470 169,442 65,841 197,301
Borrowed Funds
Unsecured Loans - - - - - - - - - 250
Total 37,656 40,573 64,864 89,956 99,433 116,344 130,470 169,442 65,841 197,551
Application of Funds
Net Fixed Assets 7,770 6,675 7,040 8,306 9,329 8,621 3,186 2,594 2,318 95,690
Investments - - 50 50 50 - 4,755 4,599 4,449 4,266
Deferred Tax Asset (Net) 903 1,436 1,298 2,267 2,750 3,554 3,708 3,988 3,419 6,714
Current Assets, Loans and Advances;
Inventories 8,983 9,845 9,506 12,468 11,337 15,932 18,324 16,515 15,150 38,790
Sundry Debtors 8,282 6,901 6,137 5,973 6,439 9,819 14,178 14,209 17,339 15,787
Cash and Bank Balances 20,993 30,651 47,979 54,306 52,740 57,701 86,627 143,294 30,779 60,929
Other Current Assets 214 903 817 1,449 482 591 964 2,098 611 1,430
Loans & Advances 6,693 6,821 13,537 24,795 37,209 42,127 26,414 18,653 23,604 37,549
Total Currents Assets, Loans and Advances 45,165 55,121 77,976 98,991 108,207 126,170 146,507 194,769 87,483 154,484
Less: Current Liabilities and Provisions
Current Liabilities 13,404 14,495 10,628 12,214 13,289 15,719 17,168 19,026 21,471 42,090
Provisions 6,448 9,498 11,165 7,444 7,614 6,282 10,518 17,482 10,357 21,513
Net Current Assets 25,313 31,128 56,183 79,333 87,304 104,169 118,821 158,261 55,655 90,881
Voluntary Retirement Schemes 3,670 1,334 293 - - - - - - -
Total 37,656 40,573 64,864 89,956 99,433 116,344 130,470 169,442 65,841 197,551
Income
Gross Sales 69,750 76,586 77,301 76,482 81,183 121,501 105,834 99,509 105,743 190,076
Less : Excise Duty 5,416 6,039 6,199 5,409 3,956 4,545 4,102 4,711 5,315 7,302
Less : Sales Tax 4,482 4,312 3,836 3,302 - - - - - -
Net Sales 59,852 66,235 67,266 67,771 77,227 116,956 101,732 94,798 100,427 182,774
Operating and Other Income 4,103 5,953 34,270 9,342 10,074 17,579 16,870 20,733 21,692 9,292
Total 63,955 72,188 101,536 77,113 87,301 134,535 118,602 115,531 122,119 192,066
Expenditure
Material Cost 20,007 22,356 23,148 23,759 28,771 39,049 35,910 33,305 37,488 73,985
Personnel Cost 10,014 10,234 10,170 10,210 12,920 22,699 19,282 20,670 19,177 23,636
Manufacturing and Other Expenses 19,273 19,746 20,510 20,966 22,689 36,823 34,605 32,323 30,662 49,414
Interest Expense 15 7 2 - - - - - - -
Depreciation and amortization 1,385 1,307 958 1,112 828 1,200 956 802 797 13,108
Finance Cost - - - - - - 59 24 36 77
Total 50,694 53,650 54,788 56,047 65,208 99,771 90,812 87,124 88,160 160,220
3UR±W%HIRUH7D[DWLRQDQG([FHSWLRQDO,WHPV 13,261 18,538 46,748 21,066 22,093 34,764 27,790 27,965 33,959 31,846
Exceptional Items -Net (2,337) (2,337) (1,735) 20,790 (1,092) (302) (37) 41,412 - (8,045)
3UR±W%HIRUH7D[DWLRQ 10,924 16,201 45,013 41,856 21,001 34,462 27,753 69,377 33,959 23,801
7D[DWLRQ 4,112 5,628 11,120 11,944 7,313 11,828 9,292 19,057 11,873 13,768
3UR±WIRUWKH\HDUEHIRUHLPSDFWRIWKH6FKHPH 6,812 10,573 33,893 29,912 13,688 22,634 18,461 50,320 22,086 10,033
of Amalgamation
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amalgamating company
(ii) Depreciation / amortization on fair valuation of - - - - - - - - - (11,844)
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3UR±WIRUWKH\HDU 6,812 10,573 33,893 29,912 13,688 22,634 18,461 50,320 22,086 6,981
Tax Provision as a % of PBT (%) 37.6 34.7 24.7 28.5 34.8 34.3 33.5 27.5 35.0 57.8
1HW3UR±WDVDRI6DOHV 9.8 13.8 50.3 44.1 17.7 19.4 18.1 53.1 22.0 3.8
Earnings Per Share (`)
D &RPSXWHGRQWKHEDVLVRISUR±WIRUWKH\HDU 22.83 35.43 113.58 100.24 45.87 75.85 61.87 168.63 74.01 15.26
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before the impact of Scheme of Amalgamation
(i) before exceptional items (net of tax) - - - - - - - - - 34.18
(ii) after exceptional items - - - - - - - - - 21.93
Equity Dividend Per Share (`) 10.00 22.50 27.50 12.50 12.50 16.50 12.50 32.50 360.0 12.50
Total Dividend Amount (` in Lakhs) 2,984 6,714 8,206 3,730 3,730 4,924 3,730 9,699 10,7429 5,718
Book Value per share (`) 126.19 135.95 217.37 301.46 333.22 389.84 437.17 567.76 220.64 431.28
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^ Includes results of erstwhile Duchem Laboratories Ltd. on its amalgamation with the Company.
@ Includes gain on sale of the animal health business and sale of investment in the subsidiary.
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1
CONTENTS
02 Notice
Board’s Report including

Management Discussion and Analysis 11
42 Corporate Governance Report
Independent Auditors’ Report 55
60 Balance Sheet
6WDWHPHQWRI3UR±WDQG/RVV 61
62 Cash Flow Statement
Notes to the Financial Statements 64
1
NOTICE -
64th Annual General Meeting
NOTICE is hereby given that the 64th$QQXDO*HQHUDO0HHWLQJRIWKH0HPEHUVRI3±]HU/LPLWHGZLOOEHKHOGDW Yashwantrao Chavan
Pratishthan Auditorium, General Jagannath Bhosale Marg, Next to Sachivalaya Gymkhana, Mumbai – 400 021, on
Monday, 13th July, 2015 at 3.00 p.m. to transact the following business:
Ordinary Business:
1. To receive, consider and adopt the Audited Financial Statements of the Company including the Balance Sheet as at 31st March,
DQGWKH6WDWHPHQWRI3UR±WDQG/RVVRIWKH&RPSDQ\IRUWKH±QDQFLDO\HDUHQGHGst March, 2015 and the Reports of the
Board of Directors and Auditors thereon.
7RGHFODUHDGLYLGHQGIRUWKH±QDQFLDO\HDUHQGHGst March, 2015.
3. To appoint a Director in place of Mr. S. Sridhar (DIN: 05162648), who retires by rotation and being eligible, offers himself for
re-appointment.
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“RESOLVED THAT pursuant to the ordinary resolution passed by the Members at the 63rd Annual General Meeting of the
Company and the provisions of Sections 139, 142 and other applicable provisions, if any, of the Companies Act, 2013, read with the
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Special Business:
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General Meeting in terms of Section 161 of the Act and ZKRTXDOL±HVIRUEHLQJDSSRLQWHGDVDQ,QGHSHQGHQW'LUHFWRULQUHVSHFW
of whom the Company has received a notice in writing from a Member under Section 160 of the Act, proposing his candidature for
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appointment, in respect of whom the Company has received a notice in writing from a Member under Section 160 of the Act,
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:KROHWLPH 'LUHFWRU RI WKH &RPSDQ\ IRU D WHUP RI ±YH \HDUV ZLWK HIIHFW IURP th February, 2015 and to her receiving
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A. Salary, Fixed Allowances and Bonus/Performance Linked Incentives:
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subject to a maximum limit of ` 5XSHHV2QH&URUH6HYHQW\±YH/DNKVRQO\ SHUDQQXP
2 3±]HU/LPLWHG | ANNUAL REPORT 2014-15

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(a) Conveyance/Car Allowance:
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(b) Communication Allowance/Expenses:
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(c) Medical Expenses:
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(d) Leave and Leave Travel Assistance:
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Company.
(e) Personal Accident Insurance, Group Term Assurance and Hospitalization Coverage:
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(f) Provident Fund:
Contribution to the Company’s Provident Fund Scheme, in accordance with the rules of the Scheme.
(g) Gratuity
Contribution to Gratuity Fund as per rules of the Company.
(h) Reimbursement of Expenses:
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Company.
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of Directors of the Company may determine from time to time.
Provision of car for use of Company’s business will not be considered as perquisite. Perquisites shall be valued as per
Income-Tax Rules, 1962, wherever applicable.
C. Minimum Remuneration:
Subject to such approvals as may be necessary, the remuneration determined by the Board of Directors of the Company
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remuneration than the maximum remuneration hereinbefore stipulated and revise the same from time to time, within the maximum
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“RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, of the Companies Act, 2013, read
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or re-enactment(s) thereof, for the time being in force), the remuneration of ` 5XSHHV7HQ/DNKV)RUW\7KRXVDQGRQO\
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Cost Accountants, having Firm’s Registration No. 000242 for conducting Cost Audit of the records maintained by the Company for
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“RESOLVED THAT pursuant to the provisions of Section 14 and other applicable provisions of the Companies Act, 2013 read with
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in force), the revised Articles of Association which is placed before the Members at this meeting duly initialed by Mr. R. A. Shah,
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regulations contained in the existing Articles of Association of the Company.
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By Order of the Board of Directors
Prajeet Nair
Mumbai, 12th June, 2015 Company Secretary
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Item Nos. 5 to 9 of the Notice is annexed hereto.
7KH5HJLVWHURI0HPEHUVDQGWKH6KDUH7UDQVIHU%RRNVRIWKH&RPSDQ\ZLOOUHPDLQFORVHGIURP)ULGD\rd July, 2015 to Monday,
13th July, 2015 (both days inclusive) for the purpose of payment of dividend.
'LYLGHQGIRUWKH±QDQFLDO\HDUHQGHGst March, 2015, as recommended by the Board of Directors of the Company, if approved at
the Annual General Meeting, will be paid to the Members on 28th July, 2015 as under:
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business hours on Thursday, 2nd July, 2015;
ii. To all Members in respect of shares held in physical form after giving effect to valid transfers in respect of transfer requests
lodged with the Company on or before the close of business hours on Thursday, 2nd July, 2015.
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percent of the total share capital of the Company carrying voting rights. A member holding more than 10 (ten) percent of the total
share capital of the Company carrying voting rights may appoint a single person as Proxy and such person shall not act as a Proxy
for any other person or shareholder.
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at the Meeting and can vote only on a poll.
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Meeting.
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of address etc., quoting their folio number(s) to the Company’s Registrar & Share Transfer Agents:
Karvy Computershare Private Limited
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Karvy Selenium Tower B, Plot No 31 & 32
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Hyderabad, Telangana – 500032
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details of which are as follows:
Particulars Number of Number of

Shareholders Shares*
Aggregate number as at 1st$SULO LQFOXGLQJHUVWZKLOH:\HWK/LPLWHG 2,459
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Aggregate number as at 31st March, 2015 2,440
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ratio of the Scheme of Amalgamation.
9. In compliance with Sections 205A and 205C of the Companies Act, 1956, the Company has transferred the unpaid or unclaimed
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established by the Central Government. The Company has uploaded the details of unpaid and unclaimed amounts lying with the
Company as on 10th1RYHPEHU GDWHRIODVW$QQXDO*HQHUDO0HHWLQJ RQWKHZHEVLWHRIWKH&RPSDQ\ªZZZS±]HULQGLDFRPª
and also on the website of the Ministry of Corporate Affairs.
Members are requested to contact the Company’s Registrar & Share Transfer Agents, in respect of their outstanding dividends for
the succeeding years.
10. Pursuant to Section 101 of the Act read with Rule 18 of the Companies (Management and Administration) Rules, 2014,
the Annual Report for 2014-15 is being sent through electronic mode to all the Members whose E-mail IDs are registered with the
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can be obtained from the Registrar & Share Transfer Agents.
5
12. In compliance with the provisions of Section 108 of the Act read with Rule 20 of the Companies (Management and Administration)
Rules, 2014, the Company is pleased to offer remote e-voting facility, which will enable the Members to cast their votes electronically
on all resolutions set out in the Notice. The remote e-voting period commences on Thursday, 9th July, 2015 (9.00 a.m.) and ends on
Sunday, 12th July, 2015 (5.00 p.m.).
13. Remote e-voting facility:
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vote. During the voting period, Members can login any number of times till they have voted on the Resolutions.
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xi) The Cut-off date for determining the eligibility of Members for remote e-voting and poll is Monday, 6th July, 2015.

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(in case of electronic shareholding) as on the cut-off date i.e., Monday, 6th July, 2015. A person, whose name is recorded
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i.e., Monday, 6th-XO\RQO\VKDOOEHHQWLWOHGWRDYDLOWKHIDFLOLW\RIUHPRWHHYRWLQJSROO
xiii) Any person who becomes a member of the Company after dispatch of the Notice of the Meeting and holding shares as
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and PAN to generate a password.
c) Member may call Karvy’s toll free number 1-800-3454-001
xiv) The Annual Report 2014-15 of the Company containing the Notice of the Annual General Meeting is also available on
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[Y .DUY\&RPSXWHUVKDUH3ULYDWH/LPLWHGVKDOOEORFNWKHUHPRWHHYRWLQJPRGXOHDIWHUSPRQ6XQGD\th July, 2015.
xvi) Members who have voted electronically through remote e-voting shall not be eligible to vote at the Annual General
Meeting.
14. Pursuant to Section 107 of the Act read with Rule 20 of the Companies (Management and Administration) Rules,
2014, voting through polling paper shall also be made available to those Members who attends the Annual General
Meeting and have not already cast their vote by e-voting.
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cast in favour or against, if any, through electronic voting and polling process to the Chairman. The results declared along with the
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As required under Clause 49 of the Listing Agreement, given below are the details of the Director proposed for
re-appointment:
Item No. 3:
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effect from 14th May, 2013. In June 2013, Mr. Sridhar assumed additional responsibility of Distribution function and was re-designated
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effective close of business hours on 12th0D\+HLVFXUUHQWO\GHVLJQDWHGDV([HFXWLYH'LUHFWRU%XVLQHVV8QLWDQG'LVWULEXWLRQ+HDG
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Mr. Sridhar does not hold any shares in the Company. Mr. Sridhar is not a Director in any other Company.
None of the Directors or Key Managerial Personnel of the Company and their relatives other than Mr. Sridhar (being the appointee) are
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The Board recommends the Ordinary Resolution set out at Item No. 3 of the Notice for the approval of the Members.
7
A STATEMENT SETTING OUT MATERIAL FACTS PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013, (“the Act”)
FOR ITEM NOS. 5 to 9:
ITEM NO. 5 :
The Board of Directors of the Company at their meeting held on 14th)HEUXDU\DSSRLQWHG0U6XQLO6/DOEKDL ',1
as an Additional Director of the Company with effect from 14th February, 2015. In terms of Section 161 of the Companies Act, 2013,
§WKH$FW¨ 0U/DOEKDLZLOOKROGRI±FHXSWRWKHGDWHRIWKLV$QQXDO*HQHUDO0HHWLQJThe Board of Directors of the Company at their
meeting held on 14th)HEUXDU\DOVRDSSRLQWHG0U6XQLO/DOEKDLDVDQ,QGHSHQGHQW'LUHFWRURIWKH&RPSDQ\IRUDSHULRGRI ±YH
years with effect from 14th February, 2015,
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±HOG0U/DOEKDLLVSUHVHQWO\WKH&KDLUPDQDQG0DQDJLQJ'LUHFWRURI$WXO/LPLWHGDGLYHUVL±HGFKHPLFDOFRPSDQ\ZKHUHKHKDVEHHQ
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'LUHFWRUVKLSLQRWKHU3XEOLF/LPLWHG&RPSDQLHVDQGPHPEHUVKLSRI%RDUG&RPPLWWHHVWKHUHRIDVRQth May, 2015, is given as under:
Name of Company Designation Chairmanship / Chairmanship / Membership

Membership of of Stakeholders’ Relationship
Audit Committee Committee
$PDO/LPLWHG Chairman - -
$WXO%LRVFLHQFH/LPLWHG Chairman - -
$WXO/LPLWHG Chairman and Managing Director - Member
$WXO5DMDVWKDQ'DWH3DOPV/LPLWHG 9LFH&KDLUPDQ - -
1DYLQ)OXRULQH,QWHUQDWLRQDO/LPLWHG Director Member -
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from being appointed as Director in terms of Section 164 of the Act.
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is not liable to retire by rotation. The Company has received a notice in writing from a Member along with a deposit of requisite amount
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The Board recommends the Ordinary Resolutions set out at Item No. 5 of the Notice for approval by the Members.
ITEM NOS. 6 & 7:
The Board of Directors of the Company at their meeting held on 14th)HEUXDU\DSSRLQWHG'U/DNVKPL1DGNDUQL ',1
as an Additional Director of the Company with effect from 14th February, 2015. In terms of Section 161 of the Companies Act, 2013,
§WKH$FW¨ 'U1DGNDUQLZLOOKROGRI±FHXSWRWKHGDWHRIWKLV$QQXDO*HQHUDO0HHWLQJ

The Board of Directors of the Company at their meeting held on 14th)HEUXDU\DOVRDSSRLQWHG'U/DNVKPL1DGNDUQLDVD:KROH
WLPH 'LUHFWRU RI WKH &RPSDQ\ IRU D SHULRG RI ±YH \HDUV ZLWK HIIHFW IURP th February, 2015, on such remuneration, payments,
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subject to the approval of the shareholders at the Annual General Meeting of the Company.
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'U1DGNDUQLKDVPRUHWKDQ\HDUVRIFRUSRUDWHH[SHULHQFH6KHMRLQHGWKH&RPSDQ\DV6HQLRU'LUHFWRU+XPDQ5HVRXUFHVLQ0DUFK
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/LPLWHG
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'U1DGNDUQLLVQRWGLVTXDOL±HGIURPEHLQJDSSRLQWHGDV'LUHFWRULQWHUPVRI6HFWLRQRIWKH$FW7KH&RPSDQ\KDVUHFHLYHGDQRWLFHLQ
ZULWLQJIURPD0HPEHUDORQJZLWKDGHSRVLWRIUHTXLVLWHDPRXQWXQGHU6HFWLRQRIWKH$FWSURSRVLQJWKHFDQGLGDWXUHRI'U1DGNDUQL
IRUWKHRI±FHRI'LUHFWRURIWKH&RPSDQ\
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7KLV6WDWHPHQWPD\DOVREHUHJDUGHGDVDGLVFORVXUHXQGHU&ODXVHRIWKH/LVWLQJ$JUHHPHQWZLWKWKH6WRFN([FKDQJHV
7KHJLYHQSDUWLFXODUVRIKHUDSSRLQWPHQWDQGUHPXQHUDWLRQDVVHWRXWDW,WHP1RRIWKH1RWLFHPD\EHWUHDWHGDVDQDEVWUDFWSXUVXDQW
to Section 190 of the Act.
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ITEM NO. 8:
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the Board of Directors at its meeting held on 5th May, 2015, on recommendation of the Audit Committee, appointed Messrs. RA & Co.,
Cost Accountants (having Firm’s Registration No. 000242) for conducting the Audit of the cost accounting records maintained by the
&RPSDQ\IRUWKH±QDQFLDO\HDUHQGLQJst March, 2016, at a remuneration of ` 5XSHHV7HQ/DNKVDQG)RUW\7KRXVDQGRQO\
SOXVVHUYLFHWD[DQGRXWRISRFNHWH[SHQVHVZKLFKLVVXEMHFWWRUDWL±FDWLRQE\WKH0HPEHUV
Pursuant to Section 148 of the Act read with Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the remuneration as approved
E\WKH%RDUGRI'LUHFWRUVSD\DEOHWRWKH0HVVUV5$ &RUHTXLUHVWREHUDWL±HGE\WKH6KDUHKROGHUVRIWKH&RPSDQ\
1RQHRIWKH'LUHFWRUVRU.H\0DQDJHULDO3HUVRQQHORIWKH&RPSDQ\DQGWKHLUUHODWLYHVDUHFRQFHUQHGRULQWHUHVWHG±QDQFLDOO\RURWKHUZLVH
in the Resolution set out at Item No. 8 of the Notice.
The Board recommends the Ordinary Resolution set out at Item No. 8 of the Notice for approval by the Members.
ITEM NO. 9:
3±]HU /LPLWHG ZDV LQFRUSRUDWHG RQ st November, 1950, under the provisions of the Indian Companies Act, 1913. The Articles of
Association of the Company, as currently in force, was adopted when the Company was incorporated under the Indian Companies Act,
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Companies Act, 2013, the existing Articles of Association require amendments to certain provisions to align the same in conformity with
the Companies Act, 2013.
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is proposed to amend the existing Articles of Association to align it with the provisions of Companies Act, 2013 including the Rules framed
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limited by shares. Accordingly, it is considered expedient to replace the existing Articles of Association by adopting a revised Articles of
Association.
9
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proposed in the new draft Articles of Association are given below for ease of reference to shareholders:
Sr. Particulars as per draft Articles Summary of change
No. of Association
1. 'H±QLWLRQV 'H±QLWLRQVDUHDSSURSULDWHO\DPHQGHGWRDOLJQZLWKWKHSURYLVLRQVRIWKH&RPSDQLHV$FW
2013.
2. General Meetings Proceedings with respect to the Annual General Meeting regarding length of the Notice
calling the general meeting, requirement of to whom the notice for the general meeting
needs to be given, material facts to be set out in the explanatory statements, business
to be transacted at the general meetings and other general meeting matters including
adjournment, poll etc. are amended in line with the provisions of the Companies Act, 2013.
3. 9RWLQJULJKWV To include voting through electronic means.
4. Proxy Restrictions on Proxy incorporated to align with the provisions of the Companies Act, 2013
with regard to limit of a person acting as a proxy.
5. Retirement and Rotation of Provisions with respect to the retirement and rotation of Directors are amended to align
Directors with the provisions of the Companies Act, 2013.
6. Appointment of Directors Provisions with respect to the appointment of Directors and procedure thereof is amended
to align with the provisions of the Companies Act, 2013.
Proceedings of Board of Directors Proceedings with respect to the Meetings of Board of Directors, quorum for the meeting,
notice calling the meeting, etc. are amended in line with the provisions of the Companies
Act, 2013.
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in the Resolution set out at Item No. 9 of the Notice.
The Board recommends the Special Resolution set out at Item No. 9 of the Notice for approval by the Members.
By Order of the Board of Directors
Prajeet Nair
Mumbai, 12th June, 2015 Company Secretary
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ACKNOWLEDGEMENTS
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For and on behalf of the Board of Directors
R.A. Shah
0XPEDLth June, 2015 Chairman

ANNEXURE - A
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3. Mr. S. Sridhar 0HPEHU:KROHWLPH'LUHFWRU
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Financial details
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` in lakhs
Particulars Amount
$YHUDJHQHWSUR±WRIWKH&RPSDQ\IRUWKHODVWWKUHH±QDQFLDO\HDUV 30,105
3UHVFULEHG&65([SHQGLWXUH DVSHU6HFWLRQRI&RPSDQLHV$FW 602
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D 7RWDODPRXQWWREHVSHQWIRUWKH±QDQFLDO\HDU 602
E $PRXQWXQVSHQWLIDQ\ 473
F 0DQQHULQZKLFKWKHDPRXQWZDVVSHQWGXULQJWKH±QDQFLDO\HDU 'HWDLOVJLYHQEHORZ
21
` in lakhs
Manner in which CSR amount spent during the Financial Year 2014-15
Sr. CSR project Sector in Projects or Amount outlay Amount Cumulative Amount
No. or activity which the programs (budget) Project spent on the expenditure spent : Direct
LGHQWL±HG project is 1. Local area or or Program wise Projects and upto the or through
covered other Programs reporting Implementing
2. Specify the 1. Direct period Agency
state and district Expenditure
where Projects or on Projects/
Programs were Programs
undertaken 2. Overheads
([SHQGLWXUHRQSURMHFWVSURJUDPV
a. School 6DQLWDWLRQ D.XUOD0XPEDL 121.50 121.50 121.50 L'LUHFW
Sanitation +HDOWKFDUH E5DLJDGGLVWULFW LL,PSOHPHQWLQJ
project - .DUMDWEORFN $JHQF\1*2
3±]HU,QGLD c. Thane district SDUWQHU
goes to $PEHUQDWK
School EORFNV
E Disaster relief Disaster relief Flood affected 7.60 7.60 7.60 ,PSOHPHQWLQJ
work work regions of $JHQF\1*2
-DPPX Jammu partner
Kashmir .DVKPLU
5HOLHI:RUN
Total 129.10 129.10 129.10
Reasons for shortfall in CSR spend

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Responsibility Statement
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Aijaz Tobaccowalla Pradip Shah

0XPEDLth0D\ Managing Director Chairman, CSR Committee

ANNEXURE - B
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7KLV1RPLQDWLRQDQG5HPXQHUDWLRQ3ROLF\(“Policy”)KDVEHHQDGRSWHGE\3±]HU/LPLWHGªV%RDUGRI'LUHFWRUV(“Board”), acting on
WKH UHFRPPHQGDWLRQV RI LWV 1RPLQDWLRQ DQG 5HPXQHUDWLRQ &RPPLWWHH WR SUHVFULEH WKH 1RPLQDWLRQ DQG 5HPXQHUDWLRQ SROLF\ RI
3±]HU/LPLWHG §&RPSDQ\¨§3±]HU¨ .
1. OBJECTIVES:
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3ROLF\ZRXOGEH
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E 5HYLHZ%RDUGVXFFHVVLRQSODQV
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LL 5HPXQHUDWLRQSDFNDJHVRINH\PDQDJHULDOSHUVRQQHODQGVHQLRUPDQDJHPHQW
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LY 7KHUHPXQHUDWLRQIUDPHZRUNIRU'LUHFWRUV
2. PFIZER’S COMPENSATION PHILOSOPHY
3±]HUªV&RPSHQVDWLRQDQG%HQH±WVSURJUDPVDUHGHVLJQHGWRHQKDQFHLWVDELOLW\WRDWWUDFWPRWLYDWHUHWDLQDQGHQJDJHDKLJK
performing and committed workforce.
3. DEFINITIONS
a. “Act” means the Companies Act, 2013 and Rules framed thereunder, as amended from time to time.
E “Key Managerial Personnel” means
L &KLHI([HFXWLYH2I±FHURUWKH0DQDJLQJ'LUHFWRURUWKH0DQDJHU
LL :KROHWLPH'LUHFWRU
LLL &KLHI)LQDQFLDO2I±FHU
LY &RPSDQ\6HFUHWDU\DQG
Y 6XFKRWKHURI±FHUDVPD\EHSUHVFULEHGXQGHUWKH$FW
c. “Senior Management”PHDQVSHUVRQQHORIWKH&RPSDQ\ZKRDUHPHPEHUVRILWVFRUHPDQDJHPHQWWHDPH[FOXGLQJWKH
%RDUGRI'LUHFWRUVFRPSULVLQJDOOPHPEHUVRIPDQDJHPHQWRQHOHYHOEHORZWKH([HFXWLYH'LUHFWRUVLQFOXGLQJWKHIXQFWLRQDO
heads.
4. ROLE OF COMMITTEE
a. Matters to be dealt with, perused and recommended to the Board by the Nomination and Remuneration
Committee
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LL ,GHQWLI\SHUVRQVZKRDUHTXDOL±HGWREHFRPHD'LUHFWRUDQGSHUVRQVZKRPD\EHDSSRLQWHGLQ.H\0DQDJHULDO3HUVRQQHO
DQG6HQLRU0DQDJHPHQW3HUVRQQHOLQDFFRUGDQFHZLWKWKHFULWHULDODLGGRZQLQWKLVSROLF\
LLL )RUPXODWHFULWHULDIRUHYDOXDWLRQRI,QGHSHQGHQW'LUHFWRUV.H\0DQDJHULDO3HUVRQQHO6HQLRU0DQDJHPHQW3HUVRQQHODQG
WKH%RDUGDVDZKROH
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Y 5HFRPPHQGWRWKH%RDUGDSSRLQWPHQWDQGUHPRYDORI'LUHFWRUV.H\0DQDJHULDO3HUVRQQHODQG6HQLRU0DQDJHPHQW
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23
b. Policy for appointment, remuneration and removal of Independent Directors, Key Managerial Personnel and
Senior Management:
i. The Nomination and Remuneration Committee will ensure that:
WKHOHYHODQGFRPSRVLWLRQRIUHPXQHUDWLRQLVUHDVRQDEOHDQGVXI±FLHQWWRDWWUDFWUHWDLQDQGPRWLYDWH'LUHFWRUVRIWKH
TXDOLW\UHTXLUHGWRUXQWKHFRPSDQ\VXFFHVVIXOO\
UHODWLRQVKLSRIUHPXQHUDWLRQWRSHUIRUPDQFHLVFOHDUDQGPHHWVDSSURSULDWHSHUIRUPDQFHEHQFKPDUNVDQG
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LL $SSRLQWPHQWFULWHULDDQGTXDOL±FDWLRQV
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iii. Term / Tenure:
0DQDJLQJ'LUHFWRU:KROHWLPH'LUHFWRU
¾ 7KH&RPSDQ\PD\DSSRLQWRUUHDSSRLQWDSHUVRQDVLWV([HFXWLYH&KDLUPDQ0DQDJLQJ'LUHFWRURU([HFXWLYH
'LUHFWRUIRUDWHUPQRWH[FHHGLQJ±YH\HDUVDWDWLPH1RUHDSSRLQWPHQWVKDOOEHPDGHHDUOLHUWKDQRQH\HDU
EHIRUHWKHH[SLU\RIWHUP
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¾ $Q,QGHSHQGHQW'LUHFWRUVKDOOKROGRI±FHIRUDWHUPXSWR±YHFRQVHFXWLYH\HDUVRQWKH%RDUGRIWKH&RPSDQ\
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¾ 1R,QGHSHQGHQW'LUHFWRUVKDOOKROGRI±FHIRUPRUHWKDQWZRFRQVHFXWLYHWHUPVEXWVXFK,QGHSHQGHQW'LUHFWRU
VKDOOEHHOLJLEOHIRUDSSRLQWPHQWDIWHUH[SLU\RIWKUHH\HDUVRIFHDVLQJWREHFRPHDQ,QGHSHQGHQW'LUHFWRU
3URYLGHGWKDWDQ,QGHSHQGHQW'LUHFWRUVKDOOQRWGXULQJWKHVDLGSHULRGRIWKUHH\HDUVEHDSSRLQWHGLQRUEH
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¾ $W WKH WLPH RI DSSRLQWPHQW RI ,QGHSHQGHQW 'LUHFWRU LW VKRXOG EH HQVXUHG WKDW QXPEHU RI %RDUGV RQ ZKLFK
VXFK,QGHSHQGHQW'LUHFWRUVHUYHVLVUHVWULFWHGWRVHYHQOLVWHGFRPSDQLHVDVDQ,QGHSHQGHQW'LUHFWRUDQGWKUHH
OLVWHGFRPSDQLHVDVDQ,QGHSHQGHQW'LUHFWRULQFDVHVXFKSHUVRQLVVHUYLQJDVD:KROHWLPH'LUHFWRURIDOLVWHG
FRPSDQ\RUVXFKRWKHUQXPEHUDVPD\EHSUHVFULEHGXQGHUWKH$FWDQG/LVWLQJ$JUHHPHQW)RUWKLVSXUSRVHWKH
,QGHSHQGHQW'LUHFWRUVVKDOOVXEPLWDGHFODUDWLRQLQWKLVUHJDUGDQGWKH&RPPLWWHH%RDUGVKDOOUHO\RQVXFK
declaration.
iv. Evaluation:
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v. Removal:
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ZULWLQJUHPRYDORIDQ,QGHSHQGHQW'LUHFWRU.H\0DQDJHULDO3HUVRQQHORU6HQLRU0DQDJHPHQW3HUVRQQHOVXEMHFWWRWKH
SURYLVLRQVDQGFRPSOLDQFHRIWKH$FW5XOHVDQG5HJXODWLRQVDQGDSSOLFDEOHSROLFLHVRIWKH&RPSDQ\
vi. Retirement:
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0DQDJHPHQW3HUVRQQHOVKDOOUHWLUHDVSHUWKHDSSOLFDEOHSURYLVLRQVRIWKH$FWDQGSUHYDLOLQJSROLFLHVRIWKH&RPSDQ\

c. Policy relating to the Remuneration for the Whole-time Director, Key Managerial Personnel and Senior
Management Personnel:
i. General:
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3HUVRQQHODQG6HQLRU0DQDJHPHQW3HUVRQQHOWKH&RPPLWWHHVKDOONHHSLQPLQGIROORZLQJFULWHULD
¾ 7KDWWKHUHPXQHUDWLRQLVDOLJQHGZLWKPDUNHWZKHQFRPSDUHGWRUHOHYDQWSHHUFRPSDQLHV
¾ 7KDWWKHUHPXQHUDWLRQLVDSSURSULDWHIRUWKH&RPSDQ\DVLWH[LVWVWRGD\EXWDQWLFLSDWHVIXWXUHEXVLQHVVQHHGV
¾ 3KLORVRSKLFDOO\FRQVLVWHQWDURXQG3±]HUªVJOREDOSROLFLHVEXWORFDOO\DQGFXOWXUDOO\DSSURSULDWH
¾ 8QGHUVWDQGDEOHDQGYDOXDEOHWRWKHWDOHQWWKH&RPSDQ\ZLVKHVWRDWWUDFWPRWLYDWHHQJDJHDQGUHWDLQ
¾ 6LPSOHDQGFRVWHIIHFWLYHIRUWKH&RPSDQ\WRFRPPXQLFDWHPDLQWDLQDQGDGPLQLVWHU
¾ 6HOHFWHGSRVLWLRQVPD\EHSDLGKLJKHUUHPXQHUDWLRQWKDQPDUNHWDOLJQHGSHHUJURXSUHPXQHUDWLRQDQG
¾ +LJKHUUHPXQHUDWLRQPD\EHFRQVLGHUHGIRUWKHSXUSRVHRIUHWHQWLRQRIWDOHQW
7KH UHPXQHUDWLRQ FRPSHQVDWLRQ EHQH±WV HWF RI :KROHWLPH 'LUHFWRUV VKDOO EH VXEMHFW WR WKH DSSURYDO RI WKH
VKDUHKROGHUVRIWKH&RPSDQ\DQG&HQWUDO*RYHUQPHQWZKHUHYHUUHTXLUHG
ii. ,QFUHPHQWVWRWKHH[LVWLQJUHPXQHUDWLRQFRPSHQVDWLRQEHQH±WVWUXFWXUHRI:KROHWLPH'LUHFWRUVZLOOEHUHFRPPHQGHG
E\WKH&RPPLWWHHWRWKH%RDUGVXEMHFWWRWKHPD[LPXPOLPLWVDSSURYHGE\WKH6KDUHKROGHUV
iii. Remuneration to Whole-time / Managing Director, Key Managerial Personnel and Senior Management
Personnel:
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0DQDJHPHQW 3HUVRQQHO KDV D EDODQFH EHWZHHQ ±[HG DQG YDULDEOH LQFHQWLYH SD\ UH²HFWLQJ VKRUW DQG ORQJ WHUP
SHUIRUPDQFHREMHFWLYHVDSSURSULDWHWRWKHZRUNLQJRIWKH&RPSDQ\DQGLWVJRDOV7KHFRPSRQHQWVRIUHPXQHUDWLRQ
FRQVLVWRIDQQXDOJXDUDQWHHGFDVKFRPSULVLQJRIEDVLFVDODU\DGKRFVSHFLDODOORZDQFH+RXVH5HQW$OORZDQFHHWF
9DULDEOHFRPSRQHQWFRQVLVWVRIERQXVSHUIRUPDQFHOLQNHGLQFHQWLYHVEDVHGRQWKHSHUIRUPDQFHRIWKH&RPSDQ\
DQG SHUIRUPDQFH RI HDFK 'LUHFWRU .H\ 0DQDJHULDO 3HUVRQQHO 6HQLRU 0DQDJHPHQW 3HUVRQQHO 7KH :KROHWLPH
'LUHFWRUV .H\ 0DQDJHULDO 3HUVRQQHO 6HQLRU 0DQDJHPHQW 3HUVRQQHO DUH DOVR HOLJLEOH IRU /RQJ 7HUP ,QFHQWLYHV
JUDQWHG E\ WKH 3DUHQW &RPSDQ\ 3±]HU ,QF 86$ LQ WKH IRUP RI 6WRFN 2SWLRQV DQG 5HVWULFWHG 6WRFN 8QLWV 7KH
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7UDYHO$VVLVWDQFH&DU&RQYH\DQFH$OORZDQFHHWF
iv. Remuneration to Non-Executive / Independent Directors:
6LWWLQJ)HHV
5HVLGHQW1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUVVKDOOEHSDLGWKHVLWWLQJIHHVIRUDWWHQGLQJWKHPHHWLQJVRIWKH%RDUG
DQGWKH&RPPLWWHHVRIZKLFKWKH\DUHPHPEHU7KH%RDUGPD\DWLWVGLVFUHWLRQUHYLVHWKHVLWWLQJIHHVSD\DEOHWRWKH
5HVLGHQW1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUVIURPWLPHWRWLPH3URYLGHGWKDWWKHDPRXQWRIVXFKIHHVVKDOOQRW
H[FHHGWKHOLPLWSUHVFULEHGXQGHUWKH$FW
&RPPLVVLRQ
,Q DGGLWLRQ WR WKH VLWWLQJ IHHV 5HVLGHQW 1RQ([HFXWLYH ,QGHSHQGHQW 'LUHFWRUV PD\ DOVR EH SDLG D &RPPLVVLRQ
DV PD\ EH GHWHUPLQHG E\ WKH %RDUG DV UHFRPPHQGHG E\ WKH 1RPLQDWLRQ DQG 5HPXQHUDWLRQ &RPPLWWHH DIWHU
FRQVLGHULQJWKHSHUIRUPDQFHRIWKH&RPSDQ\DQGWKHSHUIRUPDQFHDQGFRQWULEXWLRQRIWKH'LUHFWRUVDVHYDOXDWHG
E\WKH%RDUGVXEMHFWWRWKHOLPLWQRWH[FHHGLQJRIWKHSUR±WVRIWKH&RPSDQ\FRPSXWHGDVSHUWKHDSSOLFDEOH
SURYLVLRQVRIWKH$FWDQGVXEMHFWWRDSSURYDORI6KDUHKROGHUV
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5. OTHERS:
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RWKHUDGPLQLVWUDWLYHIXQFWLRQVRIWKH&RPPLWWHHVKDOOEHDVSHUWKH1RPLQDWLRQDQG5HPXQHUDWLRQ&KDUWHURIWKH&RPSDQ\
6. REVIEW OF THE POLICY:
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DQGDSSURYDO
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25
Annexure - C
Form AOC-2 - Material Related Party Transactions
[Pursuant to Clause (h) of Sub-section (3) of Section 134 of the Act and Rule 8 (2) of the Companies (Accounts) Rules, 2014]
)RUPIRUGLVFORVXUHRISDUWLFXODUVRIFRQWUDFWVDUUDQJHPHQWVHQWHUHGLQWRE\WKH&RPSDQ\ZLWKUHODWHGSDUWLHVUHIHUUHGWRLQ6XEVHFWLRQ
RI6HFWLRQRIWKH&RPSDQLHV$FWLQFOXGLQJFHUWDLQDUPªVOHQJWKWUDQVDFWLRQVXQGHUWKLUGSURYLVRWKHUHWR
i. Details of contracts or arrangements or transactions not at arm’s length basis:
7KHUHZHUHQRFRQWUDFWVRUDUUDQJHPHQWVRUWUDQVDFWLRQVHQWHUHGLQWRGXULQJWKH\HDUHQGHGst March, 2015, which were not at
DUPªVOHQJWKEDVLV
ii. Details of material contracts or arrangement or transactions at arm’s length basis:
7KHGHWDLOVRIPDWHULDOFRQWUDFWVRUDUUDQJHPHQWRUWUDQVDFWLRQVDWDUPªVOHQJWKEDVLVIRUWKH\HDUHQGHGst March, 2015 are as
IROORZV
Sr. Name of the Related Nature of Transaction Duration Salient Terms Amount
No. Party and Relationship (` in Lakhs)
1 3±]HU,QF86$ 6HUYLFH,QFRPH 445.56
2Q DUPªV OHQJWK EDVLV
8OWLPDWH+ROGLQJ 5HFRYHU\RIH[SHQVHV 102.16
2QJRLQJ DQG LQ RUGLQDU\ FRXUVH
&RPSDQ\ 5R\DOW\H[SHQVH 36.59
RIEXVLQHVV
5HLPEXUVHPHQWRIH[SHQVHV 293.61
2 3±]HU3URGXFWV,QGLD 6HUYLFH,QFRPH 2Q DUPªV OHQJWK EDVLV 1,480.06
Private Limited, India 5HFRYHU\RIH[SHQVHV 2QJRLQJ DQG LQ RUGLQDU\ FRXUVH 611.83
)HOORZ6XEVLGLDU\ 5HLPEXUVHPHQWRIH[SHQVHV RIEXVLQHVV 11.91
3 3±]HU'HYHORSPHQW 6HUYLFH,QFRPH 2QJRLQJ 2Q DUPªV OHQJWK EDVLV 630.33
LP, UK DQG LQ RUGLQDU\ FRXUVH
)HOORZ6XEVLGLDU\ RIEXVLQHVV
4 3±]HU([SRUW&RPSDQ\ 3XUFKDVHRI6WRFNLQ7UDGH 2Q DUPªV OHQJWK EDVLV 24,316.29
Ireland 3XUFKDVHRI5DZ%XONPDWHULDOV 2QJRLQJ DQG LQ RUGLQDU\ FRXUVH 6,684.00
5 3±]HU6LQJDSRUH 3XUFKDVHRI6WRFNLQ7UDGH 2QJRLQJ 2Q DUPªV OHQJWK EDVLV 3,679.26
Trading Pte Limited, DQG LQ RUGLQDU\ FRXUVH
(Belgium Branch) RIEXVLQHVV
)HOORZ6XEVLGLDU\
6 3±]HU,QWHUQDWLRQDO 5HFRYHU\RIH[SHQVHV 2QJRLQJ 2Q DUPªV OHQJWK EDVLV 175.50
LLC, USA DQG LQ RUGLQDU\ FRXUVH
7 3±]HU&RUSRUDWLRQ 5HFRYHU\RIH[SHQVHV 2QJRLQJ 2Q DUPªV OHQJWK EDVLV 135.52
Hongkong Limited DQG LQ RUGLQDU\ FRXUVH
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Annexure - D
Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo
INFORMATION UNDER SECTION 134 OF THE COMPANIES ACT, 2013 READ WITH RULE 8 OF THE COMPANIES
(ACCOUNTS) RULES, 2014 AND FORMING PART OF BOARD’S REPORT FOR THE YEAR ENDED 31st MARCH, 2015
A. CONSERVATION OF ENERGY:
a) Energy Conservation measures taken:
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i. Reduction of annual furnace oil consumption.
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d) Capital investment on energy conservation equipments:

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(i) Capital -
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C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

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Annexure - E
Particulars of Employees
PARTICULARS OF EMPLOYEES PURSUANT TO SECTION 134(3)(q) OF THE COMPANIES ACT, 2013 READ WITH RULE 5(1)
OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014
Sr. Requirement under Rule 5(1) Details

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R.A. Shah

Annexure - F
Secretarial Audit Report for the Financial Year Ended 31st March 2015
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014]
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‘ANNEXURE’
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Saraf and Associates

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33
ANNEXURE - G
FORM MGT-9 - Extract of Annual Return
EXTRACT OF ANNUAL RETURN
DVRQWKH±QDQFLDO\HDUHQGHGRQst March, 2015
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I. REGISTRATION AND OTHER DETAILS:
L &,1 /0+3/&

ii. Registration Date 1RYHPEHU
LLL 1DPHRIWKH&RPSDQ\ 3±]HU/LPLWHG
LY &DWHJRU\ 3XEOLF&RPSDQ\
6XE&DWHJRU\RIWKH&RPSDQ\ &RPSDQ\KDYLQJVKDUHFDSLWDO
Y $GGUHVVRIWKH5HJLVWHUHGRI±FHDQGFRQWDFWGHWDLOV 3±]HU&HQWUH3DWHO(VWDWH2II695RDG-RJHVKZDUL :HVW
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YL :KHWKHUOLVWHG&RPSDQ\ Yes
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II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
$OOWKHEXVLQHVVDFWLYLWLHVFRQWULEXWLQJRUPRUHRIWKHWRWDOWXUQRYHURIWKH&RPSDQ\DUHDVJLYHQEHORZ
Sr. Name and Description of main products NIC Code of the Product % to total turnover
No. of the Company
1 3KDUPDFHXWLFDOV 21002 100%
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:
Sr. Name and address of the Company CIN/GLN Holding % of Shares Applicable
No. /Subsidiary held Section
/Associate
1. 3±]HU(DVW,QGLD%9 1$ 3URPRWHU 39.75 2(69)
5LYLXP:HVWODDQ
/'&DSHOOH$DQ'HQ,MVVHO
7KH1HWKHUODQGV
2. :\HWK//& 1$ 3URPRWHU 12.28 2(69)
2UDQJH6WUHHW
:LOPLQJWRQ'HODZDUH
86$
3. :\HWK+ROGLQJV//& 1$ 3URPRWHU 3.56 2(69)
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Sr. Name and address of the Company CIN/GLN Holding % of Shares Applicable
No. /Subsidiary held Section
/Associate
4. :DUQHU/DPEHUW&RPSDQ\//& 1$ 3URPRWHU 2.60 2(69)
2UDQJH6WUHHW
:LOPLQJWRQ'HODZDUH
86$
5. 3DUNH'DYLV &RPSDQ\//& 1$ 3URPRWHU 2.09 2(69)
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86$
6. -RKQ:\HWK %URWKHU/LPLWHG 1$ 3URPRWHU 1.93 2(69)
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7. 3KDUPDFLD&RUSRUDWLRQ 1$ 3URPRWHU 1.71 2(69)
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IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as Percentage of Total Equity):
i) Category-wise Share Holding:
Category of Shareholders No. of Shares held No. of Shares held % Change

at the beginning of the year at the end of the year during the
Demat 3K\VLFDO Total % of Total Demat Physical Total % of total year
Shares Shares
A. Promoters
(1) Indian
D ,QGLYLGXDO+8) - - - - - - - - -
E &HQWUDO*RYHUQPHQW - - - - - - - - -
F 6WDWH*RYHUQPHQW V - - - - - - - - -
G %RGLHV&RUSRUDWH - - - - - - - - -
H %DQNV), - - - - - - - - -
I $Q\RWKHU
Sub-Total (A) (1) - - - - - - - - -
(2) Foreign
D 15,V,QGLYLGXDOV - - - - - - - - -
E 2WKHU,QGLYLGXDOV - - - - - - - - -
F %RGLHV&RUSRUDWH 21113171 - 21113171 70.75 29243042 - 29243042 63.92 (6.83)*
G %DQNV), - - - - - - - - -
H $Q\2WKHU - - - - - - - - -
Sub-Total (A) (2) - - - - - - - - -
Total Shareholding of Promoter 21113171 - 21113171 70.75 29243042 - 29243042 63.92 (6.83)
(A) = (A) (1) + (A) (2)
35
Category of Shareholders No. of Shares held No. of Shares held % Change
at the beginning of the year at the end of the year during the
Demat 3K\VLFDO Total % of Total Demat Physical Total % of total year
Shares Shares
B. Public Shareholding
,QVWLWXWLRQV
a. Mutual Funds 1332345 600 1332945 4.47 2572554 740 2573294 5.62 1.15
E %DQNV), 8926 2091 11017 0.04 6779 2437 9216 0.02 (0.02)
F &HQWUDO*RYW - - - - - - - - -
G 6WDWH*RYWV - - - - - - - - -
H 9HQWXUH&DSLWDO)XQGV 75 - 75 - - - - - -
I ,QVXUDQFH&RPSDQLHV 297154 - 297154 1.00 850202 - 850202 1.86 0.86
J ),,V 921371 - 921371 3.09 2228193 46 2228239 4.87 1.78
K )RUHLJQ9HQWXUH&DSLWDO)XQGV - - - - - - - - -
L 2WKHUV VSHFLI\ - - - - - - - - -
Sub-Total (B) (1) 2559871 2691 2562562 8.59 5657728 3223 5660951 12.37 3.78
2. Non Institutions
D %RGLHV&RUSRUDWH - - - - - - - - -
L ,QGLDQ 343364 20654 364018 1.22 2818020 24688 2842708 6.22 5.00
LL 2YHUVHDV - 300 300 - - 1035 1035 - -
E ,QGLYLGXDOV
L ,QGLYLGXDOVKDUHKROGHUV 4285636 1053111 5338747 17.89 5844893 1149923 6994816 15.29 (2.60)
holding nominal share capital
upto `1 lakh
LL ,QGLYLGXDOVKDUHKROGHUV 176248 - 176248 0.59 717346 - 717346 1.57 0.98
holding nominal share capital
LQH[FHVVRI`1 lakh
F 2WKHUV 6SHFLI\
L 'LUHFWRUVDQG5HODWLYHV 3400 - 3400 0.01 6017 - 6017 0.01 -
ii. Trusts 2033 - 2033 0.01 3501 53 3554 0.01 -
LLL )RUHLJQ%RGLHVDQG&RUSRUDWHV - 300 300 - - 1035 1035 - -
LY 1RQUHVLGHQW,QGLDQV 221806 9270 231076 0.77 241663 9335 250998 0.55 0.22
Y &OHDULQJ0HPEHUV 49016 569 49585 0.17 25661 569 26230 0.06 0.11
Sub-Total (B) (2) 5081503 1084204 6165707 20.66 9657101 1186638 10843739 23.71 3.05
Total Public Shareholding 7641374 1086895 8728269 29.25 15314829 1186684 16504690 36.08 6.83
(B) = (B) (1) + (B) (2)
C Shares held by the Custodian for - - - - - - - - -
GDRs and ADRs
Grand Total (A+B+C) 28754545 1086895 29841440 100.00 44557871 1189861 45747732 100.00 -
&KDQJHLQ3URPRWHUVKDUHKROGLQJLVRQDFFRXQWRIVKDUHVLVVXHGWRWKH3URPRWHUVRIHUVWZKLOH:\HWK/LPLWHGSXUVXDQWWRLWV
DPDOJDPDWLRQZLWKWKH&RPSDQ\

ii) Shareholding of promoters:
Sr. Shareholders Name Shareholding at the Shareholding at the

No beginning of the year end of the year %
Change
No. of % of total % of shares No. of % of total % of shares
in share-
Shares shares pledged / Shares shares pledged /
holding
of the encumbered of the encumbered
during
Company to total Company to total
the year*
share share
1 3±]HU(DVW,QGLD%9 18186334 60.94 - 18186334 39.75 - (21.19)
2 :\HWK//& - - - 5617707 12.28 - 12.28
3 :\HWK+ROGLQJV//& - - - 1630164 3.56 - 3.56
(DUOLHUNQRZQDV:\HWK
+ROGLQJV&RUSRUDWLRQ
4 :DUQHU/DPEHUW&RPSDQ\//& 1187163 3.98 - 1187163 2.60 - (1.38)
5 3DUNH'DYLV &RPSDQ\//& 955733 3.20 - 955733 2.09 - (1.11)
6 -RKQ:\HWK %URWKHU/LPLWHG - - - 882000 1.93 - 1.93

7 3KDUPDFLD&RUSRUDWLRQ 783941 2.63 - 783941 1.71 - (0.92)
Total 21113171 70.75 - 29243042 63.92 - (6.83)
7KHWHUP§HQFXPEUDQFH¨KDVWKHVDPHPHDQLQJDVDVVLJQHGWRLWLQ5HJXODWLRQ RIWKH6(%, 6XEVWDQWLDO$FTXLVLWLRQRI6KDUHV

DQG7DNHRYHUV 5HJXODWLRQV
3XUVXDQW WR WKH $PDOJDPDWLRQ RI HUVWZKLOH :\HWK /LPLWHG ZLWK 3±]HU /LPLWHG VKDUHV RI 3±]HU /LPLWHG ZHUH LVVXHG
LQOLHXRIVKDUHVRIWKHHUVWZKLOH:\HWK/LPLWHGDVSHUWKHVKDUHH[FKDQJHUDWLRRIWKH6FKHPHRI$PDOJDPDWLRQ
2XW RI WKHVH VKDUHV RI 3±]HU /LPLWHG ZHUH LVVXHG LQ OLHX RI VKDUHV KHOG E\ WKH SURPRWHUV RI HUVWZKLOH
:\HWK/LPLWHG
iii) Change in Promoters’ Shareholding*:
Sr. Name of the shareholder Shareholding at the Cumulative shareholding

No beginning of the year during the year
No. of Shares % of total No. of Shares % of total
shares of the shares of the
Company Company
1 3±]HU(DVW,QGLD%9
$WWKHEHJLQQLQJRIWKH\HDU 18186334 60.94 18186334 60.94
$WWKHHQGRIWKH\HDU 18186334 39.75 18186334 39.75
2 Wyeth LLC
$WWKHEHJLQQLQJRIWKH\HDU - - - -
Allotment of Shares pursuant to Scheme 5617707 12.28 5617707 12.28
RI $PDOJDPDWLRQ EHWZHHQ :\HWK /LPLWHG
DQGWKH&RPSDQ\RQ'HFHPEHU
37
Sr. Name of the shareholder Shareholding at the Cumulative shareholding
Company Company
3 :\HWK+ROGLQJV//&
(DUOLHUNQRZQDV:\HWK+ROGLQJV
Corporation)
RI$PDOJDPDWLRQEHWZHHQ:\HWK/LPLWHG
4 :DUQHU/DPEHUW&RPSDQ\//&
5 3DUNH'DYLV &RPSDQ\//&
6 -RKQ:\HWK %URWKHU/LPLWHG
RI$PDOJDPDWLRQEHWZHHQ:\HWK/LPLWHG
7 3KDUPDFLD&RUSRUDWLRQ
Total 21113171 70.75 29243042 63.92
3XUVXDQW WR WKH $PDOJDPDWLRQ RI HUVWZKLOH :\HWK /LPLWHG ZLWK 3±]HU /LPLWHG VKDUHV RI 3±]HU /LPLWHG ZHUH LVVXHG
LQOLHXRIVKDUHVRIWKHHUVWZKLOH:\HWK/LPLWHGDVSHUWKHVKDUHH[FKDQJHUDWLRRIWKH6FKHPHRI$PDOJDPDWLRQ
2XW RI WKHVH VKDUHV RI 3±]HU /LPLWHG ZHUH LVVXHG LQ OLHX RI VKDUHV KHOG E\ WKH SURPRWHUV RI HUVWZKLOH
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iv) Shareholding pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
Sr. Name of the Shareholder Shareholding at the Cumulative Shareholding

No beginning of the Year during the Year
No of Shares % of total No. of Shares % of total
Company Company
1 BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED
2SHQLQJ%DODQFH - - - -
6KDUHVERXJKWGXULQJWKHSHULRGWR 1035936 2.27 1035936 2.27
6KDUHVVROGGXULQJWKHSHULRGWR 53594 0.12 982342 2.15
&ORVLQJEDODQFH 982342 2.15 982342 2.15
2 ATUL LIMITED
6KDUHVVROGGXULQJWKHSHULRGWR - - 958927 2.10
&ORVLQJEDODQFH 958927 2.10 958927 2.10
3 LIFE INSURANCE CORPORATION OF INDIA
6KDUHVVROGGXULQJWKHSHULRGWR - - - -
&ORVLQJEDODQFH 507250 1.11 507250 1.11
4 UTI - EQUITY FUND
2SHQLQJ%DODQFH 477901 1.05 477901 1.05
&ORVLQJEDODQFH 572682 1.25 572682 1.25
5 FRANKLIN TEMPLETON MUTUAL FUND SCHEMES
2SHQLQJ%DODQFH 411673 0.90 411673 0.90
&ORVLQJEDODQFH 187426 0.41 187426 0.41
6 FRANKLIN TEMPLETON INVESTMENT FUNDS AND
SCHEMES
2SHQLQJ%DODQFH 390000 0.85 390000 0.85
6KDUHVERXJKWGXULQJWKHSHULRGWR - - - -
&ORVLQJEDODQFH 390000 0.85 390000 0.85
7 PARI WASHINGTON COMPANY PRIVATE LIMITED
&ORVLQJEDODQFH 358294 0.78 358294 0.78
8 BIRLA SUN LIFE TRUSTEE COMPANY PRIVATE LIMITED
AND SCHEMES
2SHQLQJ%DODQFH 307708 0.67 307708 0.67
&ORVLQJEDODQFH 1115271 2.44 1115271 2.44
9 THE ORIENTAL INSURANCE COMPANY LIMITED
2SHQLQJ%DODQFH 297154 0.65 297154 0.65
6KDUHVVROGGXULQJWKHSHULRGWR - - 327829 0.72
&ORVLQJEDODQFH 327829 0.72 327829 0.72
10 DB INTERNATIONAL (ASIA) LIMITED
&ORVLQJEDODQFH 223124 0.49 223124 0.49
39
v) Shareholding of Directors and Key Managerial Personnel:
Sr. Name of the Director Shareholding at the Cumulative shareholding

Company Company
1 Mr. R.A. Shah - Chairman
$WWKHEHJLQQLQJRIWKH\HDU 3,400 0.01 3,400 0.01
Allotment of Shares pursuant to Scheme of 140 0.00 3,540 0.01
$PDOJDPDWLRQEHWZHHQ:\HWK/LPLWHGDQGWKH
&RPSDQ\RQ'HFHPEHU
$WWKHHQGRIWKH\HDU 3,540 0.01 3,540 0.01
2 0U6XQLO/DOEKDL¥,QGHSHQGHQW'LUHFWRU
2QWKHGDWHRIDSSRLQWPHQW 2,477 0.01 2,477 0.01
(i.e., 14th)HEUXDU\
$WWKHHQGRIWKH\HDU 2,477 0.01 2,477 0.01
3. 0U3UDMHHW1DLU¥.H\0DQDJHULDO3HUVRQQHO
1RQH RI WKH RWKHU ,QGHSHQGHQW 'LUHFWRUV LH 0U 8GD\ .KDQQD DQG 0U 3UDGLS 6KDK DQG ([HFXWLYH 'LUHFWRUV
0U$LMD]7REDFFRZDOOD0U9LYHN'KDULZDO0U66ULGKDUDQG'U/DNVKPL1DGNDUQL KROGVKDUHVLQWKH&RPSDQ\GXULQJWKH±QDQFLDO
\HDUHQGHGst March, 2015.
V) INDEBTEDNESS:
Indebtedness of the Company including interest outstanding/accrued but not due for payment:
7KH&RPSDQ\KDVQRWDYDLOHGDQ\ORDQGXULQJWKH\HDUDQGLVDGHEWIUHHFRPSDQ\
VI) REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:
A. Remuneration to Managing Director, Whole- time Directors and / or Manager:
Sr. Particulars of Remuneration Name of MD/WTD/KMP Total

No. Mr. Aijaz Mr. Vivek Mr. S. Sridhar Dr. Lakshmi Amount
Tobaccowalla Dhariwal (WTD & Nadkarni (`)
(CEO & MD) (WTD) CFO) (w.e.f 14th
February,
2015) (WTD)
1 *URVV6DODU\
D 6DODU\DVSHUSURYLVLRQVFRQWDLQHGLQVHFWLRQ 52,353,751 11,822,012 15,203,453 1,115,104 80,494,320
RIWKH,QFRPH7D[$FW
E 9DOXHRISHUTXLVLWHVXV ,QFRPHWD[$FW 10,994,482 3,069,418 3,590,935 1LO 17,654,835
1961
F 3UR±WVLQOLHXRIVDODU\XQGHUVHFWLRQ 1LO 1LO 1LO 1LO 1LO
,QFRPHWD[$FW
2 6WRFN2SWLRQV 9,413,582 3,565,210 6,697,957 1LO 19,676,749
3 6ZHDW(TXLW\ 1LO 1LO 1LO 1LO 1LO
4 Commission
z $VRISUR±W 1LO 1LO 1LO 1LO 1LO
z 2WKHUVVSHFLI\ 1LO 1LO 1LO 1LO 1LO
5 2WKHUSOHDVHVSHFLI\ 1LO 1LO 1LO 1LO 1LO
Total 72,761,815 18,456,640 25,492,345 1,115,104 117,825,904
Ceiling as per the Act 123,917,458 123,917,458 123,917,458 123,917,458 247,834,916
6WRFN2SWLRQVFRQVLVWRI5HVWULFWHG6WRFN8QLWVDQG6WRFN2SWLRQVJUDQWHGE\3±]HU,QF86$

B. Remuneration to other Directors:
Sr. Particulars of Remuneration Name of Directors Total
No. Amount
1. Independent Directors Mr. R.A. Mr. Pradip Mr. Uday Mr. Sunil (`)
Shah Shah Khanna Lalbhai
(w.e.f 14th
February
2015)
z )HHIRUDWWHQGLQJERDUGFRPPLWWHHPHHWLQJV 550,000 610,000 580,000 110,000 1,850,000
z Commission 1,000,000 1,000,000 1,000,000 125,000 3,125,000
z 2WKHUVSOHDVHVSHFLI\ - - - - -
Total (1) 1,550,000 1,610,000 1,580,000 235,000 4,975,000
2. Other Non-Executive Directors
z )HHIRUDWWHQGLQJERDUGFRPPLWWHHPHHWLQJV 1$ 1$ 1$ 1$ 1$
z Commission - - - - -
z 2WKHUVSOHDVHVSHFLI\ - - - - -
Total (2) 1$ 1$ 1$ 1$ 1$
Grand Total = (1+2) 1,550,000 1,610,000 1,580,000 235,000 4,975,000
Total Managerial Remuneration 1,550,000 1,610,000 1,580,000 235,000 4,975,000
2YHUDOO&HLOLQJDVSHUWKH$FW 24,783,492
C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD:
Sr. Particulars of Remuneration Name of Key Total

No. Managerial Personnel Amount
Mr. Prajeet Nair (`)
(CS-Company
Secretary)
1 *URVV6DODU\
D 6DODU\DVSHUSURYLVLRQVFRQWDLQHGLQVHFWLRQ RIWKH,QFRPH7D[$FW 3,312,040 3,312,040
E 9DOXHRISHUTXLVLWHVXV ,QFRPHWD[$FW 638 638
F 3UR±WVLQOLHXRIVDODU\XQGHUVHFWLRQ ,QFRPHWD[$FW 1LO 1LO
2 6WRFN2SWLRQV 617,437 617,437
3 6ZHDW(TXLW\ 1LO 1LO
4 Commission
z $VRISUR±W 1LO 1LO
z 2WKHUVVSHFLI\ 1LO 1LO
5 2WKHUSOHDVHVSHFLI\ 1LO 1LO
Total 3,930,115 3,930,115
6WRFN2SWLRQVFRQVLVWRI5HVWULFWHG6WRFN8QLWVDQG6WRFN2SWLRQVJUDQWHGE\3±]HU,QF86$
vii) PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES

7KHUHZHUHQRLQVWDQFHVRIDQ\SHQDOWLHVSXQLVKPHQWFRPSRXQGLQJRIRIIHQFHVIRUWKH\HDUHQGHGst March, 2015.
{{{
41
ANNEXURE - H
Corporate Governance Report
I. PFIZER’S PHILOSOPHY ON CORPORATE GOVERNANCE
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DQGFROOHJLDOO\ZRUNHGWKURXJKDOOPDMRUGHFLVLRQV,WKDVKHOSHGFUHDWHDFUHGLEOHUHSXWDWLRQDPRQJVWDOOVWDNHKROGHUVDQGUHJXODWRUV
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HQGXULQJFKDUDFWHURI3±]HUDQGLWVSHRSOH<RXU&RPSDQ\FRQVWDQWO\VWULYHVWRPDLQWDLQKLJKJRYHUQDQFHVWDQGDUGVDQGLVIRFXVHG
RQWKHJRDORIPDNLQJ3±]HUWKHSUHPLHULQQRYDWLYHELRSKDUPDFHXWLFDOFRPSDQ\7KLVDSSURDFKKDVKHOSHGWKH&RPSDQ\HDUQWKH
WUXVWRIDOOLWVVWDNHKROGHUVRYHULWVORQJKLVWRU\
II. BOARD OF DIRECTORS
(a) Composition of the Board of Directors
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RQWKH%RDUG7KH&KDLUPDQRIWKH%RDUGLVD1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRU1RQHRIWKH'LUHFWRUVDUHUHODWHGWRHDFK
other.
(b) Board Meetings
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6HFUHWDU\GLVFXVVWKHLWHPVWREHLQFOXGHGLQWKHDJHQGDDQGWKHDJHQGDLVVHQWLQDGYDQFHWRWKH'LUHFWRUVDORQJZLWKGUDIW
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(i) 2nd0D\ LY th1RYHPEHU
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th
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(iii) 9 2FWREHU
th
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Name Category of No. of Board No. of Board Attendance No. of other No. of other
Directorship* Meetings Meetings at the Last Director- Committees of
held Attended AGM ships held which Member/
Chairman
Mr. R.A. Shah (Chairman) 1(' , 5 5 Yes 9
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(Managing Director)
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Directorship in more than 3 listed companies.
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III. BOARD COMMITTEES
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AUDIT COMMITTEE
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Name Category* Number of Number of
Meetings held Meetings attended
Mr. R.A. Shah (Chairman) 1(' , 5 5
0U3UDGLS6KDK 1(' , 5 5
0U8GD\.KDQQD 1(' , 5 5
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The Chairman of the Audit Committee was present at the 63rd Annual General Meeting held on 10th 1RYHPEHU
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43
STAKEHOLDERS’ RELATIONSHIP COMMITTEE
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Committee.
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held on 14th)HEUXDU\DUHDVXQGHU
Name Designation Category* Attendance at the

Meeting held on
14th February, 2015
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Nature of Complaints Number of Complaints

As on Received Cleared/ Pending as on
1st April, during the attended 31st March,
2014 ±QDQFLDO\HDU during the 2015
±QDQFLDO\HDU
1RQUHFHLSWRIGLYLGHQGZDUUDQWV 1LO 50 50 1LO
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Corporate Affairs
Total Nil 90 90 Nil
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CORPORATE SOCIAL RESPONSIBILITY COMMITTEE:
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NOMINATION AND REMUNERATION COMMITTEE
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BOARD ADMINISTRATIVE AND SHARE TRANSFER COMMITTEE
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REMUNERATION TO DIRECTORS
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(a) Executive Directors
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Name Remuneration
Salary %HQH±WVDQG Performance Total
Perquisites* Linked
Incentives
0U$LMD]7REDFFRZDOOD 237.55 419.66 70.40 727.61
0U9LYHN'KDULZDO 100.36 66.34 17.86 184.56
Mr. S. Sridhar 126.90 102.88 25.14 254.92
'U/DNVKPL1DGNDUQL ZHIth)HEUXDU\ 9.84 1$ 1.31 11.15
Total 474.65 588.88 114.71 1178.24
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Name Sitting Fees Commission Total Number of
shares held
Mr. R.A. Shah 5.50 10.00 15.50 3,540
0U3UDGLS6KDK 6.10 10.00 16.10 1LO
0U8GD\.KDQQD 5.80 10.00 15.80 1LO
0U6XQLO/DOEKDL ZHIth)HEUXDU\ 1.10 1.25 2.35 2,477
Total 18.50 31.25 49.75 -
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V. GENERAL BODY MEETINGS
(a) The details of the last 3 Annual General Meetings held are as under:
AGM Financial Year Date and Time Venue of the AGM

63rd 2013-2014 10th1RYHPEHUDWDP <DVKZDQWUDR &KDYDQ 3UDWLVKWKDQ
Auditorium, General Jagannath
62 nd
2012-2013 6 6HSWHPEHUDWSP
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61 st
2011-2012 2nd August, 2012 at 3.00 p.m. *\PNKDQD0XPEDL
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(b) Special Resolutions passed at the last three Annual General Meetings:
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VI. DISCLOSURES
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(b) Compliances by the Company
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(c) Code of Conduct
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(f ) Management Discussion and Analysis
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are discussed in the said Report.
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49
VII. MEANS OF COMMUNICATION
Financial Results
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VIII. GENERAL SHAREHOLDER INFORMATION
Date, time and venue of the Annual General Meeting
Date 13th-XO\
Time 3.00 p.m.
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Date of Book Closure
3rd-XO\WRth-XO\ ERWKGD\VLQFOXVLYH
Dividend Payment Date
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Address for Correspondence
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MARKET PRICE DATA*
7KH+LJKDQG/RZSULFHVRIWKH&RPSDQ\ªVVKDUH RIWKHIDFHYDOXHRI`HDFK IRUWKH±QDQFLDO\HDUXQGHUUHYLHZDUHDVEHORZ
Month and Year BSE Ltd. The National Stock Exchange of

India Ltd.
High (`) Low (`) High (`) Low (`)
Apr 2014 1346.90 1228.00 1348.65 1224.00
0D\ 1298.00 1175.00 1299.00 1173.20
Jun 2014 1449.90 1210.00 1450.00 1207.00
-XO\ 1499.00 1325.00 1500.00 1315.00
Aug 2014 1453.00 1321.05 1450.00 1320.00
Sep 2014 1824.00 1426.00 1825.00 1401.60
2FW 1718.00 1511.00 1720.00 1504.35
1RY 1828.00 1618.75 1824.95 1602.60
Dec 2014 2177.45 1745.00 2184.00 1741.00
Jan 2015 2325.00 2032.00 2325.00 1720.00
)HE 2115.60 1951.00 2116.60 1950.50
Mar 2015 2250.00 1974.50 2251.00 1969.80
6RXUFH%6(DQG16(:HEVLWHV
51
PERFORMANCE OF PFIZER SHARE PRICE TO BROAD BASED INDEX - BSE SENSEX, NIFTY (INDEXED)
180.00
170.00
160.00
150.00
140.00
Pfizer^
Index
130.00
Sensex
120.00
Nifty
110.00
100.00
90.00
80.00
Apr-14 May-14 Jun-14 July-14 Aug-14 Sept-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15
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DISTRIBUTION OF SHAREHOLDING
(a) Shareholding Pattern as on 31st March, 2015:
Category of Shareholder Number of Shares Percentage of

Shareholding
Promoters
3±]HU(DVW,QGLD%91HWKHUODQGV 18186334 39.75
:\HWK//& 5617707 12.28
:\HWK+ROGLQJV&RUSRUDWLRQ 1630164 3.56
:DUQHU/DPEHUW&RPSDQ\//&86$ 1187163 2.60
3DUNH'DYLV &RPSDQ\//&86$ 955733 2.09
-RKQ:\HWK %URWKHU/WG 882000 1.93
3KDUPDFLD&RUSRUDWLRQ86$ 783941 1.71
Sub-Total 29243042 63.92
Non-Promoters
0XWXDO)XQGV87, 2573294 5.62
)LQDQFLDO,QVWLWXWLRQV%DQNV 9216 0.02
,QVXUDQFH&RPSDQLHV 850202 1.86
)RUHLJQ,QVWLWXWLRQDO,QYHVWRUV 2228239 4.87
%RGLHV&RUSRUDWH 2843743 6.22
,QGLYLGXDOV 7712162 16.86
'LUHFWRUV 5HODWLYHV 6017 0.01
Trusts 3554 0.01
)RUHLJQ%RGLHV&RUSRUDWH 1035 0.00
1RQUHVLGHQW,QGLDQV 250998 0.55
&OHDULQJ0HPEHUV 26230 0.06
Sub-Total 16504690 36.08
Total 45747732 100.00

(b) Class-wise Distribution of Equity Shares as on 31st March, 2015:
Number of Equity Share Holding Number of Percentage of Number of Percentage of

Shareholders Shareholders Shares Shareholding
¥ 54728 64.23 1158009 2.53
¥ 13444 15.78 1060611 2.32
¥ 14926 17.52 2916774 6.38
¥ 1208 1.42 852484 1.86
¥ 732 0.86 1384128 3.03
¥ 48 0.05 349596 0.76
$ERYH 121 0.14 38026130 83.12
Total 85207 100.00 45747732 100.00
Dematerialization of Shares and Liquidity
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As on 31st0DUFKWKHQXPEHURIVKDUHVKHOGLQGHPDWHULDOL]HGDQGSK\VLFDOPRGHDUHDVXQGHU
Particulars Number of Percentage to Number of Percentage

Shares Total Capital Shareholders to Total
Issued Number of
Shareholders
+HOGLQGHPDWHULDOL]HGPRGHLQ16'/ 43155094 94.33 52061 61.10
+HOGLQGHPDWHULDOL]HGPRGHLQ&'6/ 1402777 3.07 14475 16.99
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EQUITY AND LIABILITIES
Shareholders’ funds
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95,689.76
1RQFXUUHQWLQYHVWPHQWV 13 4,266.19
'HIHUUHGWD[DVVHWV QHW 6,713.90
/RQJWHUPORDQVDQGDGYDQFHV 29,156.48
135,826.33
Current assets
,QYHQWRULHV 38,790.14
7UDGHUHFHLYDEOHV 15,786.87
&DVKDQGEDQNEDODQFHV 60,928.70
6KRUWWHUPORDQVDQGDGYDQFHV 8,392.94
2WKHUFXUUHQWDVVHWV 1,429.74
125,328.39
TOTAL 261,154.72
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STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31 MARCH 2015
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1RWH Year ended <HDUHQGHG
31 March 2015 0DUFK
Revenues
5HYHQXHIURPRSHUDWLRQV JURVV 190,076.26
/HVV([FLVHGXW\ 7,301.82
5HYHQXHIURPRSHUDWLRQV QHW 182,774.44
2WKHURSHUDWLQJLQFRPH 2,557.40
2WKHULQFRPH 6,734.61
Total revenues 192,066.45
Expenses
&RVWRIPDWHULDOVFRQVXPHG D E 38,583.50
3XUFKDVHVRIVWRFNLQWUDGH F 43,638.00
&KDQJHVLQLQYHQWRULHVRI±QLVKHGJRRGVZRUNLQSURJUHVVDQGVWRFNLQWUDGH G (8,236.14)
(PSOR\HHEHQH±WV 23,635.86
)LQDQFHFRVWV 76.88
'HSUHFLDWLRQDQGDPRUWL]DWLRQ 13,107.71
2WKHUH[SHQVHV 49,414.33
Total expenses 160,220.14
3UR±W EHIRUH H[FHSWLRQDO LWHPV WD[ DQG WKH LPSDFW RI WKH 6FKHPH RI
Amalgamation 31,846.31
([FHSWLRQDO LWHPV 9ROXQWDU\ 5HWLUHPHQW 6FKHPH DQG RWKHU UHODWHG FRVWV IRU (8,044.72)
7KDQHIDFWRU\
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Tax expense
&XUUHQWWD[ 15,099.72
'HIHUUHGWD[FKDUJH FUHGLW (1,332.07)
3UR±WIRUWKH\HDUEHIRUHLPSDFWRIWKH6FKHPHRI$PDOJDPDWLRQ 10,033.94
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L 3UR±WDIWHUWD[RIHUVWZKLOH:\HWK/LPLWHGWKHDPDOJDPDWLQJFRPSDQ\ 8,791.99
LL 'HSUHFLDWLRQDPRUWL]DWLRQRQIDLUYDOXDWLRQRI±[HGDVVHWV QHWRIWD[ (11,844.00)
3UR±WIRUWKH\HDU 6,981.93
Earnings per share (of `10/- each): ( Basic & diluted)
D &RPSXWHGRQWKHEDVLVRISUR±WIRUWKH\HDU 15.26
E &RPSXWHG RQ WKH EDVLV RI SUR±W IRU WKH \HDU EHIRUH WKH LPSDFW RI WKH
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CASH FLOW STATEMENT
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Year ended <HDUHQGHG

31 March 2015 0DUFK
A Cash Flow from Operating Activities :
3UR±WEHIRUHWD[DQGLPSDFWRIWKH6FKHPHRI$PDOJDPDWLRQ 23,801.59
$GMXVWPHQWVIRU
'HSUHFLDWLRQDQGDPRUWL]DWLRQ 13,107.71
8QUHDOLVHGIRUHLJQH[FKDQJHORVV JDLQ 1HW (53.06)
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5HQWDOLQFRPH (1,551.81)
3UR±W /RVVRQ±[HGDVVHWVVROGGLVFDUGHG 1HW (13.01)
3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHVDQGDGYDQFHV (436.98)
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2SHUDWLQJSUR±WEHIRUHZRUNLQJFDSLWDOFKDQJHV 29,890.29
$GMXVWPHQWVIRU
,QFUHDVH 'HFUHDVHLQWUDGHDQGRWKHUUHFHLYDEOHV (3,398.75)
,QFUHDVH 'HFUHDVHLQLQYHQWRULHV (7,882.36)
,QFUHDVH 'HFUHDVH LQWUDGHDQGRWKHUSD\DEOHV 8,336.89
,QFUHDVH 'HFUHDVH LQ SURYLVLRQV H[FOXGLQJ SURSRVHG GLYLGHQG WD[ RQ (1,097.59)
SURSRVHGGLYLGHQGLQFRPHWD[SURYLVLRQ
&DVKJHQHUDWHGIURPRSHUDWLRQV 25,848.48
'LUHFWWD[HVSDLG 1HW (14,501.29)
Net cash from operating activities after exceptional items (A) 11,347.19
B Cash Flow from Investing Activities :
3XUFKDVHRI±[HGDVVHWV (2,056.60)
3URFHHGVIURPVDOHRI±[HGDVVHWV 35.72
5HQWDOLQFRPHRQLQYHVWPHQWSURSHUWLHV 1,320.15
,QWHUHVWUHFHLYHG 3,919.92
Net cash from / (used) in investing activities (B) 3,219.19

CASH FLOW STATEMENT
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31 March 2015 0DUFK
C Cash Flow from Financing Activities :
'LYLGHQGSDLGRQHTXLW\VKDUHV (137.84)
7D[SDLGRQGLYLGHQG -
1HWFDVKXVHGLQ±QDQFLQJDFWLYLWLHV & (137.84)
Net Increase / (Decrease) in Cash & Cash equivalents (A)+(B)+(C) 14,428.54
Cash & Cash equivalents at the beginning of the year (note 1) 30,786.20
$GG$FTXLUHGSXUVXDQWWRWKH6FKHPHRI$PDOJDPDWLRQ QRWH 15,721.82
Cash & Cash equivalents at the end of the year (note 1) 60,936.56
14,428.54
1RWHV
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8QUHDOLVHGWUDQVODWLRQJDLQRQIRUHLJQFXUUHQF\FDVKDQGEDQNEDODQFHV 7.86
60,936.56
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3 Amalgamation of Wyeth Limited with the Company
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LL 7KHDPDOJDPDWLRQLVDFFRXQWHGXQGHUWKH§3XUFKDVH0HWKRG¨DVSHU$FFRXQWLQJ6WDQGDUG$FFRXQWLQJIRU$PDOJDPDWLRQV
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67
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LY )DLUYDOXHRIDVVHWVDQGOLDELOLWLHVDFTXLUHGIURP:\HWK/LPLWHGDUHDVXQGHU
Assets
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,QYHQWRULHV
7UDGHUHFHLYDEOHV
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2WKHUFXUUHQWDVVHWV
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Total Assets 83,780
Liabilities
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&XUUHQWOLDELOLWLHV
3URYLVLRQV
3URSRVHGGLYLGHQG
Total Liabilities 61,056
Net Assets taken over 22,724
Purchase consideration 131,379
Goodwill (including intangible assets) 108,655
Y 'XULQJ WKH \HDU HQGHG 0DUFK :\HWK /LPLWHG GHFODUHG DQG SDLG LQWHULP GLYLGHQG RI ` SHU VKDUH DJJUHJDWLQJ WR
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Total revenues
Expenses
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(PSOR\HHEHQH±WV
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Total expenses 57,952.58
3UR±WEHIRUHWD[ 13,388.19
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3UR±WIRUWKH\HDU 8,791.99
7KHGHSUHFLDWLRQRIWDQJLEOHDVVHWVDQGDPRUWL]DWLRQRIJRRGZLOODQGLQWDQJLEOHDVVHWVDULVLQJIURPWKHDPDOJDPDWLRQIRUWKH
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4 Share capital
31 March 2015 0DUFK

Number of Amount 1XPEHURI $PRXQW
shares shares
Authorised
(TXLW\VKDUHVRI`HDFK 52,844,080 5,284.41
8QFODVVL±HGVKDUHVRI`HDFK 10,155,920 1,015.59
63,000,000 6,300.00
Issued
Subscribed and fully paid up
)RUIHLWHGHTXLW\VKDUHV 2,640 0.18
Total 45,750,372 4,574.95
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5HFRQFLOLDWLRQRIWKHQXPEHURIHTXLW\VKDUHVDQGDPRXQWRXWVWDQGLQJDWWKHFRPPHQFHPHQWDQGDWWKHHQGRIWKHUHSRUWLQJ
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31 March 2015 0DUFK

shares shares
%DODQFHDWWKHFRPPHQFHPHQWRIWKH\HDU 29,844,080 2,984.32
$GGLWLRQV 6KDUHV LVVXHG SXUVXDQW WR WKH 6FKHPH RI 15,906,292 1,590.63
$PDOJDPDWLRQ 5HIHUQRWH
%DODQFHDWWKHHQGRIWKH\HDU 45,750,372 4,574.95
'HWDLOVRIHTXLW\VKDUHVKHOGE\WKHKROGLQJFRPSDQ\WKHXOWLPDWHKROGLQJFRPSDQ\WKHLUVXEVLGLDULHVDQGDVVRFLDWHV
31 March 2015 0DUFK

shares shares
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Ultimate Holding Company
3±]HU,QF - -
Holding Company
3±]HU(DVW,QGLD%9 IURP0DUFKWR
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Subsidiaries of the ultimate holding company
3±]HU(DVW,QGLD%9 ZHI'HFHPEHU 18,186,334 1,818.63
:\HWK//&86$ ZHI'HFHPEHU 5,617,707 561.77
:\HWK+ROGLQJV&RUSRUDWLRQ86$ ZHI 1,630,164 163.02
'HFHPEHU
-RKQ:\HWK %URWKHU/WG8. ZHI 882,000 88.20
'HFHPEHU
:DUQHU/DPEHUW&RPSDQ\ 1,187,163 118.72
3DUNH'DYLV &RPSDQ\ 955,733 95.57
3KDUPDFLD&RUSRUDWLRQ 783,941 78.39
69
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6KDUHKROGHUVKROGLQJPRUHWKDQVKDUHVDVRQ0DUFKDQG0DUFK
31 March 2015 0DUFK
Number of % holding 1XPEHURI KROGLQJ
shares shares
(TXLW\VKDUHVRI`HDFKIXOO\SDLGXSKHOGE\
3±]HU(DVW,QGLD%9 ZHI'HFHPEHU 18,186,334 39.75
3±]HU(DVW,QGLD%9 IURP0DUFKWR - -
'HFHPEHU
:\HWK//&86$ ZHI'HFHPEHU 5,617,707 12.28
3XUVXDQWWRWKH6FKHPHRI$PDOJDPDWLRQRIHUVWZKLOH:\HWK/LPLWHGZLWKWKH&RPSDQ\VKDUHVRIIDFHYDOXH`HDFK
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SHULRGVLPPHGLDWHO\SUHFHGLQJWKHUHSRUWLQJGDWHQRVKDUHVKDYHEHHQLVVXHGE\FDSLWDOL]DWLRQRIUHVHUYHVDVERQXVVKDUHV
7KH&RPSDQ\KDVDVLQJOHFODVVRIHTXLW\VKDUHV$FFRUGLQJO\DOOWKHHTXLW\VKDUHVUDQNHTXDOO\ZLWKUHJDUGWRYRWLQJULJKWVGLYLGHQGV
DQGVKDUHLQWKH&RPSDQ\ªVUHVLGXDODVVHWV
5 Reserves and surplus
31 March 2015 0DUFK
Securities premium account
$WWKHFRPPHQFHPHQWRIWKH\HDU 2,277.70
$GGLWLRQV 3UHPLXP RQ LVVXH RI HTXLW\ VKDUHV SXUVXDQW WR WKH 6FKHPH RI 129,789.00
$PDOJDPDWLRQ 5HIHUQRWH
$WWKHHQGRIWKH\HDU 132,066.70
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$GG3UR±WIRUWKH\HDU 6,981.93
/HVV$GMXVWPHQWRQDFFRXQWRI'HSUHFLDWLRQ 5HIHUQRWH 19.02
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3URSRVHGGLYLGHQG `SHUVKDUH0DUFK1LO 5,718.47
7D[RQ3URSRVHGGLYLGHQG 1,164.14
,QWHULPGLYLGHQG 1LO0DUFK`SHUVKDUH -
7D[RQGLYLGHQG -
7UDQVIHUUHGWRJHQHUDOUHVHUYH -
Total 192,726.23
6 Long-term borrowings (Unsecured)
31 March 2015 0DUFK

Loans and advances from related parties
-RKQ:\HWK %URWKHU/LPLWHG,QGLD%UDQFK 250.22
Total 250.22
7KHDPRXQWUHSUHVHQWVSXUFKDVHFRQVLGHUDWLRQSD\DEOHWR-RKQ:\HWKDQG%URWKHU/LPLWHG8.IRUWKHWUDQVIHURILWVXQGHUWDNLQJLQ
,QGLDWRWKHHUVWZKLOH:\HWK/LPLWHG7KHDPRXQWKDVEHHQUHWDLQHGDVDQLQWHUHVWIUHHXQVHFXUHGORDQDVSHUWKHGLUHFWLYHVRIWKH
5%,LQWKLVUHJDUGSHQGLQJDSSURSULDWHFOHDUDQFHIURPWKH,QFRPHWD[DXWKRULWLHV

&XUUHQF\` LQODNKV
7 Other long-term liabilities
31 March 2015 0DUFK

6HFXULW\GHSRVLWV 10.00
Total 10.00
8 Long-term provisions
31 March 2015 0DUFK

Employee related
3URYLGHQWIXQG 5HIHUQRWH -
*UDWXLW\ 5HIHUQRWH 225.32
Other provisions
'HPDQGVXQGHU'3&2 5HIHUQRWH E DQGQRWH 1,987.94
6DOHVUHWXUQ 5HIHUQRWH D 540.39
&XVWRPVDQG&HQWUDO([FLVH 5HIHUQRWH F DQGQRWH 202.78
Total 2,956.43
$GGLWLRQDOGLVFORVXUHUHODWLQJWRFHUWDLQSURYLVLRQV
7KH&RPSDQ\KDVPDGHSURYLVLRQIRUYDULRXVFRQWUDFWXDOREOLJDWLRQVDQGGLVSXWHGOLDELOLWLHVEDVHGRQLWVDVVHVVPHQWRIWKHDPRXQW
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2SHQLQJ $GGLWLRQV 8WLOLVDWLRQ &ORVLQJ
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E 3URYLVLRQIRU'HPDQGVXQGHUWKH'UXJV 3ULFHV
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March 2015 1,987.94 - - 1,987.94
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March 2015 200.34 - - 200.34
0DUFK
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March 2015 2.44 - - 2.44
0DUFK
7RWDO DEF
March 2015 2,592.99 138.12 - 2,731.11
0DUFK
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YDULRXVDXWKRULWLHVIRUXPV
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:\HWK/LPLWHG
71
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9 Trade payables
31 March 2015 0DUFK

0LFURDQGVPDOOHQWHUSULVHV 5HIHUQRWH 201.29
2WKHUWUDGHSD\DEOHV 33,219.05
Total 33,420.34
'LVFORVXUHVUHTXLUHGXQGHU6HFWLRQRIWKH0LFUR6PDOODQG0HGLXP(QWHUSULVHV'HYHORSPHQW$FW
31 March 2015 0DUFK

L 3ULQFLSDO DPRXQW UHPDLQLQJ XQSDLG WR DQ\ VXSSOLHU DV DW WKH HQG RI WKH 167.87
DFFRXQWLQJ\HDU
LL ,QWHUHVWGXHWKHUHRQUHPDLQLQJXQSDLGWRDQ\VXSSOLHUDVDWWKHHQGRIWKH -
DFFRXQWLQJ\HDU
LLL 7KHDPRXQWRILQWHUHVWSDLGDORQJZLWKWKHDPRXQWVRIWKHSD\PHQWPDGH -
WRWKHVXSSOLHUEH\RQGWKHDSSRLQWHGGD\
LY 7KHDPRXQWRILQWHUHVWGXHDQGSD\DEOHIRUWKH\HDU -
Y 7KHDPRXQWRILQWHUHVWDFFUXHGDQGUHPDLQLQJXQSDLGDWWKHHQGRIWKH 33.42
DFFRXQWLQJ\HDU
YL 7KH DPRXQW RI IXUWKHU LQWHUHVW GXH DQG SD\DEOH HYHQ LQ WKH VXFFHHGLQJ -
\HDUXQWLOVXFKGDWHZKHQWKHLQWHUHVWGXHVDVDERYHDUHDFWXDOO\SDLG
'XHVWR0LFURDQG6PDOO(QWHUSULVHVKDYHEHHQGHWHUPLQHGWRWKHH[WHQWVXFKSDUWLHVKDYHEHHQLGHQWL±HGRQWKHEDVLVRILQIRUPDWLRQ
FROOHFWHGE\WKHPDQDJHPHQW7KLVKDVEHHQUHOLHGXSRQE\WKHDXGLWRUV
10 Other current liabilities
31 March 2015 0DUFK

8QSDLGGLYLGHQGV 5HIHUQRWH 1,530.48
&UHGLWRUVIRUFDSLWDOH[SHQGLWXUH 478.26
6WDWXWRU\UHPLWWDQFHV 2,219.36
(PSOR\HHEHQH±WV 3,223.90
6HFXULW\GHSRVLWV 1,208.10
Total 8,660.10
,QYHVWRUHGXFDWLRQDQGSURWHFWLRQIXQG ,(3) LVEHLQJFUHGLWHGE\WKHDPRXQWRIXQSDLGGLYLGHQGDIWHUVHYHQ\HDUVIURPWKHGXH

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&XUUHQF\` LQODNKV
11 Short-term provisions
31 March 2015 0DUFK

Employee related
&RPSHQVDWHGDEVHQFHV 5HIHUQRWH 433.33
3URYLGHQWIXQG 5HIHUQRWH -
2WKHUHPSOR\HHEHQH±WV 5HIHUQRWH D 691.83
Other provisions
:HDOWKWD[ 1HWRIWD[HVSDLG 85.76
)ULQJHEHQH±WWD[ 1HWRIWD[HVSDLG 55.22
,QFRPHWD[ 1HWRIWD[HVSDLG 7,002.81
6DOHVUHWXUQ 5HIHUQRWH E 2,352.67
'HPDQGVXQGHU'3&2 5HIHUQRWH F DQGQRWH 481.28
3URSRVHGGLYLGHQG 5HIHUQRWH 5,718.47
7D[RQSURSRVHGGLYLGHQG 1,164.14
Total 18,556.45
$GGLWLRQDOGLVFORVXUHVUHODWLQJWRFHUWDLQSURYLVLRQV
2SHQLQJ $GGLWLRQV 8WLOLVDWLRQ &ORVLQJ

QRWH 5HYHUVDOV
D 2WKHUHPSOR\HHEHQH±WV
March 2015 993.06 43.24 344.47 691.83
0DUFK
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March 2015 2,553.51 - 200.84 2,352.67
0DUFK
F 3URYLVLRQIRU'HPDQGVXQGHUWKH'UXJV 3ULFHV
&RQWURO 2UGHU
March 2015 481.28 - - 481.28
0DUFK
Total (a + b + c)
March 2015 4,027.85 43.24 545.31 3,525.78
0DUFK
1RWH7KHRSHQLQJEDODQFHVDVRQ$SULOLQFOXGHEDODQFHVDFTXLUHGSXUVXDQWWRWKH6FKHPHRI$PDOJDPDWLRQRIHUVWZKLOH
:\HWK/LPLWHG
3URSRVHGGLYLGHQG
31 March 2015 0DUFK
$PRXQWSHUVKDUH LQ` 12.50
1XPEHURIVKDUHV 45,747,732
$PRXQW `LQODNKV 5,718.47
73
74
12 Fixed Assets &XUUHQF\`LQODNKV
Leasehold Leasehold Building Plant and Furniture Vehicles 2I±FH Computers Total Trademarks Goodwill Total Total
land Improvements on equipment and equipments Tangibles Intangibles
Leasehold ±[WXUHV
Land
Gross block
Balance as at 1 April 2013 32.57 478.28 1,421.40 5,569.81 453.93 202.59 1,129.54 2,194.90 11,483.02 15.51 - 15.51 11,498.53
$GGLWLRQVGXULQJWKH\HDU
'LVSRVDOV$GMXVWPHQWV
%DODQFHDVDW0DUFK
%DODQFHDVDW$SULO
$FTXLUHG SXUVXDQW WR 6FKHPH
RI $PDOJDPDWLRQ RI :\HWK
/LPLWHG 5HIHUQRWH
$GGLWLRQV
'LVSRVDOV$GMXVWPHQWV
Balance as at 31 March 2015 32.57 648.91 5,765.00 8,209.58 518.36 167.81 1,389.88 3,456.95 20,189.06 42,735.51 65,935.00 108,670.51 128,859.57
Accumulated Depreciation /
Amortization
Balance as at 1 April 2013 15.95 359.48 489.08 4,456.47 346.04 190.70 1,040.07 2,100.99 8,998.78 15.51 - 15.51 9,014.29
'HSUHFLDWLRQ$PRUWL]DWLRQ
IRUWKH\HDU
$FFXPXODWHGGHSUHFLDWLRQ
$PRUWL]DWLRQRQGLVSRVDOV
$GMXVWPHQWV
%DODQFHDVDW0DUFK
%DODQFHDVDW$SULO
$FTXLUHGSXUVXDQWWR6FKHPH
RI$PDOJDPDWLRQRI:\HWK
/LPLWHG
'HSUHFLDWLRQ$PRUWL]DWLRQ
IRUWKH\HDU
$GMXVWPHQWVWR6XUSOXV

5HIHUQRWH
$FFXPXODWHGGHSUHFLDWLRQ
$PRUWL]DWLRQRQGLVSRVDOV
$GMXVWPHQWV
Balance as at 31 March 2015 16.59 431.78 1,056.73 6,769.88 430.06 148.88 1,137.76 2,688.19 12,679.87 8,559.51 13,186.40 21,745.91 34,425.78
Net Block
$VDW0DUFK
As at 31 March 2015 15.98 217.13 4,708.27 1,439.70 88.30 18.94 252.12 768.76 7,509.19 34,176.00 52,748.60 86,924.60 94,433.79
%XLOGLQJLQFOXGHVLQYHVWPHQWLQVKDUHDSSOLFDWLRQPRQH\RI` 0DUFK` LQFRRSHUDWLYHKRXVLQJVRFLHW\UHSUHVHQWLQJRZQHUVKLSRIWZRUHVLGHQWLDO²DWV

3XUVXDQWWRWKHQRWL±FDWLRQRIWKH6FKHGXOH,,RIWKH&RPSDQLHV$FWZLWKHIIHFWIURP$SULOGHSUHFLDWLRQIRUWKH\HDUKDVEHHQSURYLGHGDVSHUWKHUDWHVGHWHUPLQHG
LQ3DUW&RI6FKHGXOH,,RUEDVHGRQHVWLPDWHGXVHIXOOLIHRIWKHDVVHWVGHWHUPLQHGE\WKHPDQDJHPHQW$FFRUGLQJO\GHSUHFLDWLRQIRUWKH\HDULVKLJKHUE\ÒDNKVDQGIRUDVVHWV
ZKLFKKDGQRUHVLGXDOOLIHDVDW$SULOWKHERRNYDOXH QHWRIGHIHUUHGWD[ DPRXQWLQJWRÒDNKVKDVEHHQDGMXVWHGDJDLQVW6XUSOXV
7KHFRPSDQ\KDVREWDLQHGDQH[WHUQDOWHFKQLFDOHYDOXDWLRQRIWKHUHPDLQLQJHVWLPDWHGXVHIXOOLIHRIWKHDVVHWVWDNHQRYHUIURPHUVWZKLOH:\HWK/LPLWHG
/DQGDQG%XLOGLQJDFTXLUHGIURPHUVWZKLOH:\HWK/LPLWHGWKHDPDOJDPDWLQJ&RPSDQ\SXUVXDQWWRWKH6FKHPHRI$PDOJDPDWLRQZLWKWKH&RPSDQ\LVEHLQJ
WUDQVIHUUHGLQWKHQDPHRIWKH&RPSDQ\
3±]HU/LPLWHG | ANNUAL REPORT 2014-15

,QFOXGHVDGGLWLRQVPDGHE\HUVWZKLOH:\HWK/LPLWHGIRUWKH±QDQFLDO\HDU
&XUUHQF\` LQODNKV
13 Non - current investments
31 March 2015 0DUFK

2WKHU,QYHVWPHQWV
a. Investment property
$VVHWVJLYHQRQRSHUDWLQJOHDVH 5,316.91
/HVVDFFXPXODWHGGHSUHFLDWLRQ 1,050.97
4,265.94
b. Unquoted investments
,QYHVWPHQWLQRWKHUHTXLW\LQVWUXPHQWV
L 7KH6KDPUDR9LWKDO&RRSHUDWLYH%DQN/LPLWHG 0.25
0DUFK VKDUHVRI`HDFKIXOO\SDLGXS
LL *ROG6RYHUHLJQ $FWXDOFRVW` -
LLL %KDUXFK(FR$TXD,QIUDVWUXFWXUH/LPLWHG 7.29
0DUFK HTXLW\VKDUHVRI`HDFKIXOO\SDLGXS
LY %KDUXFK(QYLUR,QIUDVWUXFWXUH/LPLWHG 0.02
0DUFK HTXLW\VKDUHVRI`HDFKIXOO\SDLGXS
7.56
,QYHVWPHQWLQJRYHUQPHQWVHFXULWLHV 0.11
/HVV3URYLVLRQIRUGLPLQXWLRQLQYDOXHRILQYHVWPHQWV (7.42)
0.25
Total 4,266.19
$JJUHJDWHDPRXQWRIXQTXRWHGLQYHVWPHQWV 0.25
14 Deferred tax asset (net)
31 March 2015 0DUFK

Tax effect of items constituting deferred tax assets
2QGLIIHUHQFHEHWZHHQERRNEDODQFHDQGWD[EDODQFHRI±[HGDVVHWV -
3URYLVLRQIRUHPSOR\HHEHQH±WV 260.00
3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHDQGDGYDQFHV 984.25
3URYLVLRQIRUH[FLVHGXW\FXVWRPGXW\DQGSULFLQJOLWLJDWLRQV 937.65
$PRUWL]DWLRQRIYROXQWDU\UHWLUHPHQWFRVWV 2,236.24
3URYLVLRQIRUVDOHVUHWXUQ 1,001.29
2WKHUV 2,271.03
7,690.46
Tax effect of items constituting deferred tax liability
2QGLIIHUHQFHEHWZHHQERRNEDODQFHDQGWD[EDODQFHRI±[HGDVVHWV 976.56
976.56
Deferred tax asset (net) 6,713.90
75
&XUUHQF\` LQODNKV
15 Long-term loans and advances
8QVHFXUHGFRQVLGHUHGJRRGXQOHVVRWKHUZLVHVWDWHG
31 March 2015 0DUFK

&DSLWDODGYDQFHV 8.70
&RPSHQVDWHGDEVHQFHV 5HIHUQRWH -
'HSRVLWVDQGRWKHUDGYDQFHV
&RQVLGHUHGJRRG 5HIHUQRWH 6,301.95
&RQVLGHUHGGRXEWIXO 264.59
6,566.54
/HVV3URYLVLRQIRUGRXEWIXOGHSRVLWVDQGDGYDQFHV (264.59)
6,301.95
(PSOR\HHUHODWHGORDQVDQGDGYDQFHV 59.72

$GYDQFHLQFRPHWD[ 1HWRISURYLVLRQIRUWD[ 17,980.10
%DODQFHZLWK&XVWRPV
&RQVLGHUHGJRRG 989.05
1,062.73
/HVV3URYLVLRQIRURWKHUGRXEWIXOORDQVDQGDGYDQFHV (73.68)
989.05
2WKHUORDQVDQGDGYDQFHV
&RQVLGHUHGJRRG 3,338.59
3,547.22
3,338.59
Total 29,156.48
,QFOXGHVÒDNKV 0DUFKÒDNKV GHSRVLWHGLQUHVSHFWRIGHPDQGVXQGHUWKH'UXJV 3ULFHV&RQWURO 2UGHU

16 Inventories
$WORZHURIFRVWDQGQHWUHDOLVDEOHYDOXHXQOHVVRWKHUZLVHVWDWHG
31 March 2015 0DUFK

5DZPDWHULDOV 9,164.40
*RRGVLQWUDQVLWLQFOXGHGDERYHÒDNKV 0DUFKÒDNKV
:RUNLQSURJUHVV 957.60
)LQLVKHGJRRGV 5HIHUQRWH 10,413.91
6WRFNLQWUDGH 5HIHUQRWH 16,906.47
6WRUHVDQGVSDUHV DWFRVW 123.35
3DFNLQJPDWHULDOV 1,224.41
Total 38,790.14

&XUUHQF\` LQODNKV
)LQLVKHGJRRGVFRPSULVHV
31 March 2015 0DUFK

/LTXLGSDUHQWHUDOV 369.73
7DEOHWVDQGFDSVXOHV 5,687.24
/LTXLGV 3,706.10
6ROLGV 274.81
/LTXLGVDQG/RWLRQV 376.03
2LQWPHQWV -
10,413.91
6WRFNLQWUDGHFRPSULVHV
31 March 2015 0DUFK

/LTXLGSDUHQWHUDOV 10,604.48
/LTXLGV 534.54
3RZGHUSDUHQWHUDOV 2,261.29
2LQWPHQWV 346.89
0LVFHOODQHRXV 110.53
16,906.47
17 Trade receivables
31 March 2015 0DUFK

7UDGHUHFHLYDEOHVRXWVWDQGLQJIRUDSHULRGH[FHHGLQJVL[PRQWKVIURPWKHGDWH
WKH\EHFDPHGXHIRUSD\PHQW
6HFXUHGFRQVLGHUHGJRRG 3.12
8QVHFXUHGFRQVLGHUHGJRRG 1,528.47
&RQVLGHUHGGRXEWIXO 2,226.94
3,758.53
/HVV3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHV (2,226.94)
1,531.59
2WKHUWUDGHUHFHLYDEOHV
6HFXUHGFRQVLGHUHGJRRG 62.89
14,271.61
/HVV3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHV (16.33)
14,255.28
Total 15,786.87
77
&XUUHQF\` LQODNKV
18 Cash and bank balances
31 March 2015 0DUFK

&DVKDQGFDVKHTXLYDOHQWV
&DVKRQKDQG 0.90
%DODQFHVZLWKEDQNV
,QFXUUHQWDFFRXQWV 1,526.35
,Q(()&DFFRXQW 1.31
,QGHSRVLWDFFRXQWV 47,469.66
2WKHUEDQNEDODQFHV
'HSRVLWDFFRXQWV 10,400.00
(DUPDUNHGEDQNEDODQFHV
8QSDLGGLYLGHQGDFFRXQWV 1,530.48
Total 60,928.70
19 Short-term loans and advances

8QVHFXUHGFRQVLGHUHGJRRGXQOHVVRWKHUZLVHVWDWHG
31 March 2015 0DUFK

6HFXULW\GHSRVLWV 2,173.55
/RDQVDQGDGYDQFHVWRHPSOR\HHV 151.46
%DODQFHZLWK&XVWRPVDQG([FLVHDXWKRULWLHV 1,982.46
2WKHUORDQVDQGDGYDQFHV
4,139.13
4,085.47
Total 8,392.94
20 Other current assets
31 March 2015 0DUFK

,QWHUHVWDFFUXHGRQWLPHGHSRVLWV 892.40
3K\VLFLDQVDPSOHV DWFRVW 464.92
$VVHWVKHOGIRUVDOH 72.42
Total 1,429.74

&XUUHQF\` LQODNKV
21 Revenue from operations

31 March 2015 0DUFK
6DOHRISURGXFWV 190,076.26
/HVVH[FLVHGXW\ 7,301.82
Total 182,774.44
6DOHRISURGXFWVFRPSULVHV

31 March 2015 0DUFK
/LTXLGV 46,289.15
6ROLGV 1,636.19
2LQWPHQWV 1,443.76
)HHGVXSSOHPHQWV -
&RVPHWLFVDQG7RLOHWULHV
/LTXLGDQG/RWLRQV 2,363.54
182,774.44
22 Other operating income

31 March 2015 0DUFK
6DOHRIVHUYLFHV 2,535.90
&6$FRPPLVVLRQ 6.36
6DOHRIVFUDS 15.14
Total 2,557.40
23 Other income

31 March 2015 0DUFK
,QWHUHVWLQFRPH
2QGHSRVLWVIURPEDQNV 4,437.90
2QVWDIIORDQ 11.37
2QRWKHUV 4.28
5HQWDOLQFRPH 5HIHUQRWH 1,551.81
/LDELOLWLHVSURYLVLRQVQRORQJHUUHTXLUHGZULWWHQEDFN 386.38
,QVXUDQFHFODLPV 101.84
3UR±WRQVDOHRIDVVHWV QHW 13.01
0LVFHOODQHRXVLQFRPH 228.02
Total 6,734.61
79
&XUUHQF\` LQODNKV
24 Cost of materials consumed
24 a. Raw materials consumed
31 March 2015 0DUFK
2SHQLQJVWRFN QRWH 9,435.49
$GG3XUFKDVHV QHW 28,712.20
38,147.69
/HVV&ORVLQJVWRFN 9,164.40
&RVWRIUDZPDWHULDOVFRQVXPHG D 5HIHUQRWHD L 28,983.29
1RWH2SHQLQJVWRFNIRU±QDQFLDO\HDULQFOXGHVVWRFNDFTXLUHGSXUVXDQWWRWKH6FKHPHRI$PDOJDPDWLRQ
24 b Packing materials consumed
31 March 2015 0DUFK
2SHQLQJVWRFN QRWH 1,268.30
$GG3XUFKDVHV 9,556.32
10,824.62
/HVV&ORVLQJVWRFN 1,224.41
&RVWRISDFNLQJPDWHULDOVFRQVXPHG E 9,600.21
Total cost of materials consumed ( a + b ) 38,583.50
1RWH2SHQLQJVWRFNIRU±QDQFLDO\HDULQFOXGHVVWRFNDFTXLUHGSXUVXDQWWRWKH6FKHPHRI$PDOJDPDWLRQ
D L 5DZPDWHULDOFRQVXPHGFRPSULVHV
31 March 2015 0DUFK
9LWDPLQV 4,086.15
&RGHLQHSKRVSDWH 3,691.20
0LQLSUHVV;/EXONWDEOHWV 5,466.99
6XJDU 1,085.91
3UHGQLVRORQH 5,578.09
/HYRQRJHVWUHO1RUJHVWUHO 218.45
3UHPDULQWDEOHWV 611.26
2WKHULWHPV 8,245.24
28,983.29
24 c Purchases of stock-in-trade
31 March 2015 0DUFK
/LTXLGV 2,072.02
6ROLGV -
2LQWPHQWV 924.78
43,638.00

&XUUHQF\` LQODNKV
G &KDQJHVLQLQYHQWRULHVRI±QLVKHGJRRGVZRUNLQSURJUHVVDQGVWRFNLQWUDGH
31 March 2015 0DUFK
,QYHQWRULHVDWWKHHQGRIWKH\HDU
)LQLVKHGJRRGV 10,413.91
:RUNLQSURJUHVV 957.60
6WRFNLQWUDGH 16,906.47
28,277.98
,QYHQWRULHVDWWKHFRPPHQFHPHQWRIWKH\HDU QRWH
)LQLVKHGJRRGV 8,831.17
:RUNLQSURJUHVV 1,117.96
6WRFNLQWUDGH 10,092.71
20,041.84
Net (increase) / decrease (8,236.14)
1RWH ,QYHQWRULHVDWWKHFRPPHQFHPHQWRIWKH±QDQFLDO\HDULQFOXGHVLQYHQWRULHVDFTXLUHGSXUVXDQWWRWKH6FKHPHRI
$PDOJDPDWLRQ
(PSOR\HHEHQH±WV

31 March 2015 0DUFK
6DODULHVDQGZDJHV 20,663.49
&RQWULEXWLRQVWRSURYLGHQWDQGRWKHUIXQGV 5HIHUQRWH 861.65
6WDIIZHOIDUHH[SHQVHV 1,459.13
Total 23,635.86
81
82
(PSOR\HHEHQH±WV
0DUFK 0DUFK 0DUFK 0DUFK 0DUFK
*UDWXLW\ &RPSHQVDWHG 3URYLGHQW *UDWXLW\ &RPSHQVDWHG 3URYLGHQW *UDWXLW\ &RPSHQVDW 3URYLGHQW *UDWXLW\ &RPSHQVDW 3URYLGHQW *UDWXLW\ &RPSHQVDW 3URYLGHQW
DEVHQFHV IXQG DEVHQFHV IXQG HGDEVHQFHV IXQG HGDEVHQFHV IXQG HGDEVHQFHV IXQG
1 Changes in present value of
obligations
3URMHFWHGEHQH±WREOLJDWLRQDW 6,250.04 999.42 540.44
EHJLQQLQJRIWKH\HDU
&XUUHQWVHUYLFHFRVW 877.34 798.21 -
7UDQVIHUVLQ - 525.99 -
,QWHUHVWFRVW 489.78 89.50 47.23
%HQH±WVSDLG ([SHFWHG (1,078.70) (476.64) -
VHWWOHPHQWV
3DVWVHUYLFHFRVW¥YHVWHG - - -
FXUWDLOPHQWJDLQ
$FWXDULDO JDLQ ORVVRQREOLJDWLRQ (171.96) (467.07) (587.67)
,QFUHDVHLQDFFRXQWEDODQFH
(PSOR\HUªVFRQWULEXWLRQV - - -
3ODQSDUWLFLSDQWVªFRQWULEXWLRQV - - -
3URMHFWHGEHQH±WREOLJDWLRQDWWKH 6,366.50 1,469.41 -
HQGRIWKH\HDU
2 Changes in fair value of plan - -
assets
)DLUYDOXHRISODQDVVHWVDW 5,886.31 2,468.72 -
EHJLQQLQJRIWKH\HDU
$GMXVWPHQWWRRSHQLQJEDODQFH (346.01) (644.64) -
([SHFWHGUHWXUQRQSODQDVVHWV 475.63 150.48 -
&RQWULEXWLRQV - 434.29 -
%HQH±WVSDLG7UDQVIHURXW - (434.29) -
([SHFWHGVHWWOHPHQWV
$FWXDULDOJDLQ ORVV RQSODQDVVHWV 32.69 35.81 -
(PSOR\HUªVFRQWULEXWLRQV - - -
3ODQSDUWLFLSDQWVFRQWULEXWLRQV - - -
)DLUYDOXHRISODQDVVHWVDWWKHHQG 6,048.62 2,010.37 -
RIWKH\HDU
3 Net Asset / (Liability)
recognized in the balance sheet
3URMHFWHGEHQH±WREOLJDWLRQDWWKH 6,366.50 1,469.41 -
HQGRIWKH\HDU
)DLUYDOXHRISODQDVVHWVDWWKHHQG 6,048.62 2,010.37 -
RIWKH\HDU
1HW$VVHW /LDELOLW\ UHFRJQL]HGLQ (317.88) 540.96 -
WKHEDODQFHVKHHW
4 Expense recognized in the
VWDWHPHQWRISUR±WDQGORVV
&XUUHQWVHUYLFHFRVW 877.34 798.21 -
,QWHUHVWFRVW 489.78 89.50 47.23
3DVWVHUYLFHFRVW¥YHVWHG - - -
FXUWDLOPHQWJDLQ
([SHFWHGUHWXUQRQSODQDVVHWV (475.63) (150.48) -
1HWDFWXDULDO *DLQ /RVV (204.65) (502.89) (587.67)
UHFRJQL]HG
([SHQVHUHFRJQL]HGLQWKH 686.84 234.34 (540.44)
3±]HU/LPLWHG | ANNUAL REPORT 2014-15

&XUUHQF\` LQODNKV
VWDWHPHQWRISUR±WDQGORVV
(PSOR\HHEHQH±WV &RQWLQXHG
0DUFK 0DUFK 0DUFK 0DUFK 0DUFK
*UDWXLW\ &RPSHQVDWHG 3URYLGHQW *UDWXLW\ &RPSHQVDWHG 3URYLGHQW *UDWXLW\ &RPSHQVDW 3URYLGHQW *UDWXLW\ &RPSHQVDW 3URYLGHQW *UDWXLW\ &RPSHQVDW 3URYLGHQW
DEVHQFHV IXQG DEVHQFHV IXQG HGDEVHQFHV IXQG HGDEVHQFHV IXQG HGDEVHQFHV IXQG
5 Balance sheet reconciliation
2SHQLQJQHWOLDELOLW\ 363.73 1,469.30 540.44
7UDQVLWLRQOLDELOLW\¥DGMXVWHGLQ 346.01 (644.64) -
JHQHUDOUHVHUYH
5HVHUYHDWWKHEHJLQQLQJRIWKH - - -
\HDU
([SHQVHDVDERYH 686.84 (234.34) (540.44)
7UDQVIHULQ RXW %HQH±WVSDLG (1,078.70) (49.35) -
([SHFWHGVHWWOHPHQWV
$PRXQWUHFRJQL]HGLQWKHEDODQFH 317.88 540.97 -
VKHHW
6 Actuarial Assumptions
'LVFRXQWUDWH 7.80% 7.80% 7.80%
([SHFWHG UDWH RI UHWXUQ RQ SODQ 9.00% 9.10% 8.62%
DVVHWV
$QQXDOLQFUHDVHLQFRPSHQVDWLRQ 5% to 5% to 9.0% 5% to WR WR 1$ WR WR 1$ WR WR 1$ WR WR WR
9.0% 9.0%
$GMXVWPHQWVWRRSHQLQJEDODQFHLQFOXGHVIXQGVUHFHLYHGIURP/,&RI,QGLDWRZDUGVUHLPEXUVHPHQWRISUHYLRXV\HDUEHQH±WSD\RXW
'H±QHGFRQWULEXWLRQSODQ
'XULQJWKH\HDUWKH&RPSDQ\KDVFRQWULEXWHGÒDNKV 0DUFK1LO WRZDUGVHPSOR\HHªVVXSHUDQQXDWLRQIXQG
*HQHUDOGHVFULSWLRQRIVLJQL±FDQWGH±QHGEHQH±WSODQV
L *UDWXLW\SODQ
*UDWXLW\LVSD\DEOHWRDOOHOLJLEOHHPSOR\HHVRIWKH&RPSDQ\RQVXSHUDQQXDWLRQGHDWKDQGSHUPDQHQWGLVDEOHPHQWDVSHU&RPSDQ\ªVUXOHVRUDVSHUSURYLVLRQV
RIWKH3D\PHQWRI*UDWXLW\$FW
LL /HDYHSODQ
$OOHOLJLEOHHPSOR\HHVFDQFDUU\IRUZDUGDQGDYDLOHQFDVKOHDYHDVSHU&RPSDQ\ªVUXOHVVXEMHFWWRDPD[LPXPDFFXPXODWLRQRIGD\VLQFDVHRISULYLOHJH
OHDYH
LLL 3URYLGHQWIXQG
7KHHPSOR\HHªVSURYLGHQWIXQGLVDGPLQLVWHUHGE\D7UXVWFUHDWHGVSHFL±FDOO\IRUWKHSXUSRVH7KHHPSOR\HHªVDQGHPSOR\HUªVFRQWULEXWLRQVDUHWUDQVIHUUHGWR
WKHWUXVW$OOOLDELOLWLHVDULVLQJRQDFFRXQWRISURYLGHQWIXQGSD\RXWVRQUHVLJQDWLRQRUUHWLUHPHQWIURPVHUYLFHRUGHDWKZKLOHLQVHUYLFHDUHPDGHIURPWKHWUXVW
7KHHVWLPDWHGFRQWULEXWLRQWREHSDLGWRWKHSODQGXULQJWKHDQQXDOSHULRGEHJLQQLQJDIWHUEDODQFHVKHHWGDWHLVÒDNKV 3UHYLRXV\HDU1LO
&XUUHQF\` LQODNKV
83
&XUUHQF\` LQODNKV
26 Finance costs

31 March 2015 0DUFK
,QWHUHVWH[SHQVHRQRWKHUV 76.88
Total 76.88
27 Depreciation and amortization

31 March 2015 0DUFK
7DQJLEOHDVVHWV 5HIHUQRWH 2,060.01
,QWDQJLEOHDVVHWV 5HIHUQRWH 10,865.20
,QYHVWPHQWSURSHUW\ 5HIHUQRWH 182.50
Total 13,107.71
28 Other expenses

31 March 2015 0DUFK
&RQVXPSWLRQRIVWRUHVDQGVSDUHSDUWV 450.93
3URFHVVLQJFKDUJHV 5,679.88
3RZHUDQGIXHO 1,040.24
5HQW 4,744.52
5HSDLUVDQGPDLQWHQDQFHEXLOGLQJV 47.13
5HSDLUVDQGPDLQWHQDQFHPDFKLQHU\ 389.09
5HSDLUVDQGPDLQWHQDQFHRWKHUV 15.62
,QVXUDQFH 737.10
5DWHVDQGWD[HV 3,865.08
&RPPXQLFDWLRQ 762.31
7UDYHOOLQJDQGFRQYH\DQFH 4,327.97
)UHLJKW )RUZDUGLQJH[SHQVHV 8,042.34
$GYHUWLVHPHQWDQGVDOHVSURPRWLRQ 7,561.31
/HJDODQGSURIHVVLRQDOIHHV 5,527.62
3D\PHQWVWRDXGLWRUV 5HIHUQRWH 121.03
5R\DOW\ 48.38
&DVKGLVFRXQW 78.04
([FKDQJH/RVV 145.60
([FLVH'XW\ 591.98
%DQNFKDUJHV 74.07
3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHVDQGDGYDQFHV (436.98)
3ULQWLQJDQGVWDWLRQHU\ 144.89
6HUYLFHFKDUJHV -
&RPPLVVLRQWRGLUHFWRUV 31.25
0LVFHOODQHRXVH[SHQVHV 5,424.93
Total 49,414.33

&XUUHQF\` LQODNKV
3D\PHQWWRDXGLWRUV LQFOXVLYHRIVHUYLFHWD[

31 March 2015 0DUFK
$VDXGLWRU 83.15
)RURWKHUVHUYLFHV 35.96
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30 Contingent liabilities and commitments (to the extent not provided for)
31 March 2015 0DUFK

(i) Contingent liabilities*
D &ODLPVQRWDFNQRZOHGJHGDVGHEWV 1,369.05
E 2WKHUJXDUDQWHHV 754.04
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$FFRXQWVUHFHLYDEOH 27.05 1,688.23
$FFRXQWVSD\DEOH 89.75 5,602.40
1HWUHFHLYDEOH SD\DEOH (62.70) (3,914.17)
32 Value of imports calculated on CIF basis

31 March 2015 0DUFK
5DZPDWHULDOV 13,922.73
*RRGVIRUUHVDOH 28,814.58
Total 42,737.31
33 Expenditure in foreign currency (accrual basis)

31 March 2015 0DUFK
5R\DOW\ 36.59
7UDYHOOLQJDQGFRQYH\DQFH 182.46
6HUYLFHFKDUJHV 390.18
6DODULHVDQGZDJHV 338.63
/HJDODQGSURIHVVLRQDOIHHV 44.41
2WKHUV 103.14
Total 1,095.41

&XUUHQF\` LQODNKV
34 Details of consumption of imported and indigenous raw materials
Amount
,PSRUWHG
March 2015 15,028.83
0DUFK
,QGLJHQRXV
March 2015 13,954.46
0DUFK
Total 28,983.29

35 Earnings in foreign exchange

31 March 2015 0DUFK
([SRUWRIJRRGVFDOFXODWHGRQ)2%EDVLV 93.30
6HUYLFHLQFRPH 1,075.59
Total 1,168.89
36 Amounts remitted in foreign currency

31 March 2015 0DUFK
$PRXQWRIGLYLGHQGUHPLWWHGLQIRUHLJQFXUUHQF\ -
7RWDO QXPEHU RI QRQUHVLGHQW VKDUHKROGHUV WR ZKRP WKH GLYLGHQGV ZHUH -
UHPLWWHGLQIRUHLJQFXUUHQF\
7RWDOQXPEHURIVKDUHVKHOGE\WKHPRQZKLFKGLYLGHQGZDVGXH -
<HDUWRZKLFKWKHGLYLGHQGUHODWHV - 0DUFK
±QDOGLYLGHQG
0DUFK
LQWHULPGLYLGHQG
37 Segmental information
$IWHUFRQVLGHULQJWKH$PDOJDPDWLRQRI:\HWK/LPLWHGHIIHFWLYH$SULOWKH&RPSDQ\KDVFRQFOXGHGWKDWLWKDVRQO\RQH
VHJPHQW ZKLFK LV 3KDUPDFHXWLFDOV DQG WKH FRPSDQ\ SULPDULO\ RSHUDWHV LQ GRPHVWLF PDUNHW WKHUHIRUH GLVFORVXUH UHODWLQJ WR
VHJPHQWVLVQRWDSSOLFDEOHDQGDFFRUGLQJO\QRWPDGH
38 Disclosures as required by the Accounting Standard 18 on “Related Party Disclosures” are given below:
I. Names of Related Parties and description of Relationships
A. Parties where control exists:
8OWLPDWHKROGLQJFRPSDQ\
3±]HU,QF86$
B. Holding Company:
3±]HU(DVW,QGLD%9 IURP0DUFKWR'HFHPEHU
& &RPSDQLHVFROOHFWLYHO\H[HUFLVLQJVLJQL±FDQWLQ²XHQFH
3±]HU(DVW,QGLD%9 ZHI'HFHPEHU
:\HWK//&86$ ZHI'HFHPEHU
:\HWK+ROGLQJV&RUSRUDWLRQ86$ ZHI'HFHPEHU
-RKQ:\HWK %URWKHU/LPLWHG8. ZHI'HFHPEHU
89
&XUUHQF\` LQODNKV
:DUQHU/DPEHUW&RPSDQ\//&86$
3DUNH'DYLV &RPSDQ\//&86$
3KDUPDFLD&RUSRUDWLRQ86$
3±]HU&RUSRUDWLRQ3DQDPD XSWR0DUFK
3±]HU,QYHVWPHQWV1HWKHUODQGV%9 XSWR0DUFK
>&ROOHFWLYHO\KROGLQJRIWKHDJJUHJDWHRIHTXLW\VKDUHFDSLWDORIWKH&RPSDQ\@
D. Fellow Subsidiaries with whom transactions have taken place during the year
3±]HU/DERUDWRULHV 3URSULHWRU\ /LPLWHG6RXWK$IULFD
3±]HU(QWHUSULVHV6$5//X[HPERXUJ
3±]HU([SRUW&RPSDQ\,UHODQG
3±]HU*OREDO7UDGLQJ,UHODQG
3±]HU6LQJDSRUH7UDGLQJ3WH/LPLWHG %HOJLXP%UDQFK
3±]HU,QF3KLOOLSLQHV
3±]HU3ULYDWH/LPLWHG6LQJDSRUH
3±]HU3URGXFWV,QGLD3ULYDWH/LPLWHG,QGLD
3±]HU&RUSRUDWLRQ$XVWULD*HVHOOVFKDIWPE+
3±]HU2YHUVHDV//&
3±]HU&RUSRUDWLRQ+RQJNRQJ/LPLWHG
3±]HU/LPLWHG8.
3±]HU&DQDGD,QF
3±]HU$XVWUDOLD3W\/LPLWHG
3±]HU$VLD0DQXIDFWXULQJ3WH/WG
3±]HU'HYHORSPHQW/3
3±]HU(J\SW6$(
3±]HU3KDUPDFHXWLFDOV.RUHD/LPLWHG
:KLWHKDOO,QWHUQDWLRQDO,QF
:\HWK$\HUVW,QWHUQDWLRQDO//&
:\HWK3KDUPDFHXWLFDOV,QF
3±]HU6HUYLFH&RPSDQ\%9%$
3±]HU,QWHUQDWLRQDO//&86$
3±]HU6$GH&9
-RKQ:\HWK %URWKHU/LPLWHG ,QGLD%UDQFK ZHI'HFHPEHU
:\HWK/LPLWHG $PDOJDPDWLRQHIIHFWHGZLWKWKH&RPSDQ\LQWKHFXUUHQW\HDU
=RHWLV3KDUPDFHXWLFDO5HVHDUFK3ULYDWH/LPLWHG XSWR-XQH
=RHWLV,QGLD/LPLWHG XSWR-XQH
=RHWLV6LQJDSRUH37(/WG XSWR-XQH
3±]HU$QLPDO3KDUPD3ULYDWH/LPLWHG XSWR-XQH
E. Key Managerial Personnel
$LMD]7REDFFRZDOOD0DQDJLQJ'LUHFWRU
66ULGKDU:KROHWLPH'LUHFWRUDQG&KLHI)LQDQFLDO2I±FHU ZHI0D\
9LYHN'KDULZDO:KROHWLPH'LUHFWRU
'U/DNVKPL1DGNDUQL:KROHWLPH'LUHFWRU ZHI)HEUXDU\

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II. Transactions during the year and Balances Outstanding as at the year end with the Related Parties are as follows:
31 March 2015 31 March 2014

No. Nature of Transactions Ultimate Companies Fellow Ultimate Companies Fellow
Holding exercising Subsidiaries Holding exercising Subsidiaries
Company VLJQL±FDQW Company VLJQL±FDQW
LQ²XHQFH LQ²XHQFH
1 6DOHRI±QLVKHGJRRGV QHWRI - - -
UHWXUQV
6HUYLFHLQFRPH LQFOXGLQJ 445.56 - 2,110.40
VHUYLFHWD[
3 6DOHRIDVVHW - - -
5HFRYHU\RIH[SHQVHV 102.16 4.11 1,015.17
3XUFKDVHRI±QLVKHGJRRGV - - 28,814.58
3XUFKDVHRIUDZEXON - - 6,687.06
PDWHULDOV
5R\DOW\H[SHQVH 36.59 - -
6HUYLFHFKDUJHV - - -
([SHQVHVUHLPEXUVHG 293.61 - 555.27
,QWHULP'LYLGHQGIRU - - -
'HFHPEHUDQG
GLYLGHQGLQUHVSHFWRIWKH
\HDUHQGHG0DUFK
11 &RPPLVVLRQ,QFRPH - - -
5HQWDOLQFRPH - - -
13 2XWVWDQGLQJDVDWWKH\HDU 316.62 31.74 2,136.82
HQG¥'XHIURP
2XWVWDQGLQJDVDWWKH\HDU 976.74 770.66 20,955.57
HQG¥'XHWR
Key Managerial Personnel
No. Nature of transactions Year ended <HDUHQGHG

31 March 2015 0DUFK
5HPXQHUDWLRQWR.H\0DQDJHULDOSHUVRQQHO 981.49
91
&XUUHQF\` LQODNKV
Details of material transactions during the year:

31 March 2015 0DUFK
a) 6DOHRI±QLVKHGJRRGV QHWRIUHWXUQV
3±]HU,QF3KLOOLSLQHV -
3±]HU$QLPDO3KDUPD3ULYDWH/LPLWHG -
b) 6DOHRI±[HGDVVHWV
:\HWK/LPLWHG -
c) Service Income
3±]HU,QF86$ 445.56
:\HWK/LPLWHG,QGLD LQFOXGLQJVHUYLFHWD[ -
3±]HU3URGXFWV,QGLD3ULYDWH/LPLWHG,QGLD LQFOXGLQJVHUYLFHWD[ 1,480.06
3±]HU'HYHORSPHQW/3 630.33
d) Recovery of expenses
3±]HU,QF86$ 102.16
=RHWLV3KDUPDFHXWLFDO5HVHDUFK3ULYDWH/LPLWHG -
3±]HU3URGXFWV,QGLD3ULYDWH/LPLWHG,QGLD 611.83
:\HWK/LPLWHG,QGLD -
3±]HU,QWHUQDWLRQDO//&86$ 175.50
3±]HU&RUSRUDWLRQ+RQJNRQJ/WG 135.52
=RHWLV,QGLD/LPLWHG -
e) Purchase of stock in trade
3±]HU([SRUW&RPSDQ\,UHODQG 24,316.29
3±]HU*OREDO7UDGLQJ,UHODQG 242.15
3±]HU6LQJDSRUH7UDGLQJ3WH/LPLWHG %HOJLXP%UDQFK 3,679.26
f) Purchase of Raw/ Bulk materials
g) Royalty expense
3±]HU,QF86$ 36.59
h) Expenses reimbursed
3±]HU3ULYDWH/LPLWHG6LQJDSRUH 223.63
3±]HU$VLD0DQXIDFWXULQJ3WH/WG 166.55
3±]HU,QF86$ 293.61
3±]HU3KDUPDFHXWLFDOV.RUHD/LPLWHG 113.77
:\HWK/LPLWHG,QGLD -
i) Service Charges
:\HWK/LPLWHG,QGLD -
j) Dividend Paid
3±]HU&RUSRUDWLRQ3DQDPD -
3±]HU,QYHVWPHQW1HWKHUODQGV%9 -
k) Rental income
=RHWLV3KDUPDFHXWLFDO5HVHDUFK3ULYDWH/LPLWHG -
l) Remuneration to Key Management Personnel
$LMD]7REDFFRZDOOD 633.48
66ULGKDU 187.94
9LYHN'KDULZDO 148.91

&XUUHQF\` LQODNKV
31 March 2015 0DUFK
m) Outstanding as at the year end due from
:\HWK/LPLWHG,QGLD -
3±]HU/LPLWHG8QLWHG.LQJGRP 288.92
3±]HU,QF86$ 316.62
3±]HU,QWHUQDWLRQDO//& 328.88
3±]HU'HYHORSPHQW/3 636.35
n) Outstanding as at the year end due to
:\HWK/LPLWHG,QGLD -
3±]HU6LQJDSRUH7UDGLQJ3WH/LPLWHG6LQJDSRUH 1,784.20
o) CSA Commission
39 Details of leasing arrangements

31 March 2015 0DUFK
As Lessor
7KH &RPSDQ\ KDV OHW RXW VRPH RI LWV RZQHG SURSHUW\ GXULQJ WKH \HDU RQ
RSHUDWLQJOHDVH7KHOHDVHWHUPVDUHLQWKHUDQJHRI\HDUV7KHLQIRUPDWLRQ
LQUHVSHFWRIWKHVDPHLVDVIROORZV
*URVVERRNYDOXH 5HIHUQRWH 5,316.91
$FFXPXODWHG'HSUHFLDWLRQ 5HIHUQRWH 1,050.97
'HSUHFLDWLRQIRUWKHOHDVHSHULRG 182.50
5HQWDOLQFRPH 639.14
/HDVH ,QFRPH UHFRJQLVHG LQ WKH VWDWHPHQW RI SUR±W DQG ORVV IRU WKH \HDU LQ
UHVSHFWRIVXEOHWSURSHUW\LVÒDNKV 0DUFKÒDNKV
As Lessee
7KH&RPSDQ\KDVWDNHQYDULRXVUHVLGHQWLDOJRGRZQVRI±FHSUHPLVHV LQFOXGLQJ
IXUQLWXUHDQG±WWLQJVWKHUHLQDVDSSOLFDEOH XQGHURSHUDWLQJOHDVHRUOHDYHDQG
OLFHQFH DJUHHPHQWV 7KHVH DUH JHQHUDOO\ FDQFHOODEOH DQG UDQJH EHWZHHQ
PRQWKV DQG \HDUV XQGHU OHDYH DQG OLFHQFH RU ORQJHU IRU RWKHU OHDVHV DQG LQ
FHUWDLQFDVHVDUHUHQHZDEOHE\PXWXDOFRQVHQWRQPXWXDOO\DJUHHDEOHWHUPV7KH
&RPSDQ\KDVJLYHQUHIXQGDEOHLQWHUHVWIUHHVHFXULW\GHSRVLWVLQDFFRUGDQFHZLWK
WKHDJUHHGWHUPV
)XWXUHPLQLPXPOHDVHSD\PHQWV
QRWODWHUWKDQRQH\HDU 2,754.00
ODWHUWKDQRQH\HDUDQGQRWODWHUWKDQ±YH\HDUV 9,180.00
ODWHUWKDQ±YH\HDUV -
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40 Earnings per share (Basic and diluted)
31 March 2015 0DUFK
1HWSUR±WIRUWKH\HDU
D 3UR±WIRUWKH\HDU 6,981.93
E 3UR±WIRUWKH\HDUEHIRUHWKHLPSDFWRI6FKHPHRI$PDOJDPDWLRQ
L EHIRUHH[FHSWLRQDOLWHPV QHWRIWD[ 15,636.68
LL DIWHUH[FHSWLRQDOLWHPV QHWRIWD[ 10,033.94
93
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31 March 2015 0DUFK
:HLJKWHGDYHUDJHQXPEHURIHTXLW\VKDUHVIRUFDOFXODWLQJEDVLFDQGGLOXWHG(36 45,747,732
3DUYDOXHSHUVKDUH `10 `
(DUQLQJVSHUVKDUH%DVLFDQGGLOXWHG
D &RPSXWHGRQWKHEDVLVRISUR±WIRUWKH\HDU 15.26
E &RPSXWHGRQWKHEDVLVRISUR±WIRUWKH\HDUEHIRUHWKHLPSDFWRI6FKHPH
RI$PDOJDPDWLRQ
L EHIRUHH[FHSWLRQDOLWHPV QHWRIWD[ 34.18
LL DIWHUH[FHSWLRQDOLWHPV QHWRIWD[ 21.93
41 Employee stock option scheme
7KHHPSOR\HHVRIWKH&RPSDQ\KDYHEHHQLVVXHG 0DUFK 6KDUH2SWLRQVDQG 0DUFK
UHVWULFWHGVWRFNXQLWVXQGHUWKH3±]HU,QF6KDUH2SWLRQ3ODQE\3±]HU,QF7KHFRVWLQFXUUHGE\3±]HU,QFSXUVXDQWWRWKHVDLG
3±]HU,QF6KDUH2SWLRQ3ODQIRUWKH\HDUHQGHG0DUFKDPRXQWVWRÒDNKV 0DUFKÒDNKV 7KHVH
DPRXQWVKDYHQRWEHHQFKDUJHGWRWKH&RPSDQ\E\3±]HU,QF
42 Expenditure on research and development
31 March 2015 0DUFK
&DSLWDO -
5HYHQXH 1,739.86
Total 1,739.86
43 Corporate Social Responsibility

$VSHUVHFWLRQRIWKH&RPSDQLHV$FWWKH&RPSDQ\KDVFRQVWLWXWHGD&RUSRUDWH6RFLDO5HVSRQVLELOLW\ &65 &RPPLWWHH
7KH±UVWVHWRILQLWLDWLYHVZHUHODXQFKHGGXULQJWKH\HDUZKHUHWKH&RPSDQ\VXSSRUWHGWKH6ZDFKK9LG\DOD\D&DPSDLJQ¥DSDUWRI
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PHGLFLQHVWRVXSSRUWWKH²RRGUHOLHIZRUNLQ-DPPX .DVKPLU7KHWRWDODPRXQWVSHQWE\WKH&RPSDQ\WRZDUGV&65DFWLYLWLHV
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CONSENT FOR RECEIVING DOCUMENTS IN ELECTRONIC FORM

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PFIZER LIMITED
3ODFH0XPEDL Prajeet Nair

'DWHWK -XQH Company Secretary

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1. Name(s) of Shareholder(s)

(including joint holders, if any) :
2. No. of Shares held :

3. Registered Folio No. / DP ID &
Client ID No. :
4. E-mail ID for receipt
of documents in
electronic mode :
3ODFHBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
(Signature of First holder)
'DWHBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
(Name of First holder)
)RU3K\VLFDOVKDUHV .LQGO\VHQGWR.DUY\&RPSXWHUVKDUH3ULYDWH/LPLWHG
)RU'HPDWVKDUHV .LQGO\VHQGWR.DUY\&RPSXWHUVKDUH3ULYDWH/LPLWHGDQGDOVRUHJLVWHUXSGDWHWKH(PDLO,'ZLWKWKH'HSRVLWRU\
3DUWLFLSDQWZKHUHGHPDWDFFRXQWLVPDLQWDLQHG
PFIZER LIMITED
CIN: L24231MH1950PLC008311
Registered Office: Pfizer Limited, Pfizer Centre, Patel Estate, Off S.V. Road, Jogeshwari (West), Mumbai – 400 102
Tel: 91 22 6693 2000 Fax: 91 22 2678 4569 Website: www.pfizerindia.com E-mail ID: contactus.india@pfizer.com
64TH ANNUAL GENERAL MEETING

ATTENDANCE SLIP
NAME AND ADDRESS OF THE MEMBER: PLEASE COMPLETE THE SLIP AND
HAND IT OVER AT THE ENTRANCE OF
THE MEETING HALL
FOLIO NO. / CLIENT ID / DP ID:
I hereby record my presence at the 64th Annual General Meeting of the Members of Pfizer Limited which will be held at Yashwantrao
Chavan Pratishthan Auditorium, General Jagannath Bhosale Marg, Next to Sachivalaya Gymkhana, Mumbai – 400 021, on Monday,
13th July, 2015 at 3.00 p.m.
Name of the Shareholder Signature of the Shareholder/Proxy*
*Strike out whichever is not applicable.

ELECTRONIC VOTING PARTICULARS
EVEN (E-voting Event Number) User ID Password
Please read the instructions given at Note No. 13 of the Notice of the Annual General Meeting carefully before voting electronically.
"
"
PFIZER LIMITED
CIN: L24231MH1950PLC008311
Registered Office: Pfizer Limited, Pfizer Centre, Patel Estate, Off S.V. Road, Jogeshwari (West), Mumbai – 400 102
Tel: 91 22 6693 2000 Fax: 91 22 2678 4569 Website: www.pfizerindia.com E-mail ID: contactus.india@pfizer.com
Name and Address of the Member: PROXY FORM - MGT - 11

[Pursuant to Section 105(6) of the Companies Act, 2013
and Rule 19(3) of the Companies (Management and
Administration) Rules, 2014]
Folio No. / Client ID / DP ID:_________________________________________ E-mail ID:_______________________________________

I / We, being the member(s) holding .......................... shares of Pfizer Limited hereby appoint
1. Name 2. Name 3. Name
Address Address Address
E-mail ID E-mail ID E-mail ID
Signature Signature Signature
.............................................., or failing him / her .............................................., or failing him / her ..............................................

as my / our Proxy to attend and vote (on a poll) for me / us and on my / our behalf at the 64th Annual General Meeting of the Company
to be held on Monday, 13th July, 2015 at 3.00 p.m. at Yashwantrao Chavan Pratishthan Auditorium, General Jagannath Bhosale Marg,
next to Sachivalaya Gymkhana, Mumbai – 400 021 and at any adjournment(s) thereof in respect of such resolutions, as are indicated overleaf.
Signed this _________________________ day of __________________________ 2015.
Please affix
Revenue
Signature of the Shareholder: _____________________________Signature of the Proxy holder(s): ______________________ Stamp
Note : This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company,
not less than 48 hours before commencement of the Meeting.
Please see overleaf
"
"
Sr.
Resolutions
No
Ordinary Resolutions
1. To consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2015 together
with the Reports of the Board of Directors and Auditors thereon.
2. To declare a dividend for the financial year ended 31st March, 2015.
3. To appoint a Director in place of Mr. S. Sridhar who retires by rotation and being eligible offers himself for re-appointment.
4. To ratify the appointment of Messrs. B S R & Co. LLP, Chartered Accountants as Statutory Auditors of the Company for the
financial year ending 31st March, 2016.
5. To consider and appoint Mr. Sunil Lalbhai as an Independent Director of the Company, for a term of 5 years effective
14th February, 2015.
6. To consider and appoint Dr. Lakshmi Nadkarni as Director of the Company, liable to retire by rotation.
7. To consider and appoint Dr. Lakshmi Nadkarni as a Whole-time Director of the Company, for a term of 5 years effective
14th February, 2015.
8. To consider and ratify the remuneration payable to Messrs. RA & Co., Cost Accountants for the financial year ending
31st March, 2016.
Special Resolution
9. To approve and adopt the revised Articles of Association of the Company.

1.pfizer Limited Annual Report 2014-15

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1.pfizer Limited Annual Report 2014-15

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7(1<($5),1$1&,$/

Board’s Report including

42 Corporate Governance Report

Independent Auditors’ Report 55

62 Cash Flow Statement

Notes to the Financial Statements 64

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A. Salary, Fixed Allowances and Bonus/Performance Linked Incentives:

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By Order of the Board of Directors

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Particulars Number of Number of

User ID: For Members holding shares in Demat form:

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c) Member may call Karvy’s toll free number 1-800-3454-001

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Name of Company Designation Chairmanship / Chairmanship / Membership

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By Order of the Board of Directors

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Your Directors take pleasure in presenting this 64th$QQXDO5HSRUWDORQJZLWKWKH$XGLWHG)LQDQFLDO6WDWHPHQWVIRUWKH±QDQFLDO\HDUHQGHG

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MEDICAL AFFAIRS DIVISION:

INTERNAL CONTROL SYSTEMS, THEIR ADEQUACY AND COMPLIANCE

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18 3±]HU/LPLWHG | ANNUAL REPORT 2014-15

For and on behalf of the Board of Directors

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Sr. No. Name Designation / Category

Reasons for shortfall in CSR spend

For and on behalf of the Board of Directors

Aijaz Tobaccowalla Pradip Shah

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24 3±]HU/LPLWHG | ANNUAL REPORT 2014-15

26 3±]HU/LPLWHG | ANNUAL REPORT 2014-15

E Impact of measures taken:

c) Steps taken for utilizing alternate sources of energy:

d) Capital investment on energy conservation equipments:

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C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

For and on behalf of the Board of Directors

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Sr. Requirement under Rule 5(1) Details

For and on behalf of the Board of Directors

30 3±]HU/LPLWHG | ANNUAL REPORT 2014-15

Saraf and Associates

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Saraf and Associates

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Category of Shareholders No. of Shares held No. of Shares held % Change

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Net cash from / (used) in investing activities (B) 3,219.19

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