Ranbaxy Laboratories Ltd.

Company Details Industry Chairman Managing Director Company Secretary ISIN Bloom berg Code Reuters Code Price Information Latest Date Latest Price (Rs) Previous Close (Rs) 1 Day Price Var% 1 Year Price Var% 52 Week High (Rs) 52 Week Low (Rs) Beta Face Value (Rs) Industry PE Company Size (Standalone) Market Cap(Rs Crore) EV (Rs Crore) Latest no. of shares Share holding pattern as on 201109 Promoter No of shares Promoter % FII No of Shares FII % Total No of Shares Free Float % C ompany Address Pharmaceuticals & Drugs Tsutomu Une Arun Sawhney S K Patawari INE 015A01028 RBXY IN RANB.BO Registered Office Phone Fax Website Email www.ranbaxy. com secretarial@ranbaxy.com A-41, Industrial Area Phase V I I I - A,Sahibzada Aj it Singh Nagar,,Mohali,160071,Punjab Price Vs Sensex Chart 11-Oct-11 516.2 516.6 -0.08 -13.85 624.9 414 0.7354 5 11 F inancial Highlights (Standalone) Description 201012 Equity Paid Up 210.52 4910.6 8 Reserve Total Debt 4260.72 Gross Block 2857.63 5669.54 Net Sales PBIDT 1847.79 PAT 1148.73 40 Dividend % Adj. EPS(Rs) 27.28 121.63 Adj. Book Value(Rs) Period: From 18/10/20 21774.96 23323.4 421831926 268711323 63.75 37344094 8.86 421506926 36.25 200912 210.21 3742.78 3348.38 2620.92 4780.29 1249.59 571.98 13.61 94.03 200812 210.19 3324.16 3698.8 2386.75 4470.28 -1318.78 -1044.8 -24.85 84.08 Key Market Ratio (Standalone) Latest EPS (Rs) Latest CEPS (Rs) Price/TTM CEPS(x) TTM PE (x) Price/BV(x) EV/TTM EBIDTA(x) EV/TTM Sales(x) Dividend Yield% MCap/TT M Sales(x) Latest Book Value (Rs) Peer Group Comparison (Standalone) Company Nam e Cipla Dr Reddy'S Lab Year End 201103 201103 Net Sales 6135.16 5187.4 Quarter on Quarter (Standalone) 8.88 13.71 37.66 58.15 4.18 89.3 4.83 0.39 4.51 123.62 Particulars Net Sales Total Expenditure PBIDT (Excl OI) PAT PBIDTM% (Excl OI) PBIDTM% PATM% Adj. EPS(Rs) 201106 1241.78 1231.85 50.17 150.38 3.9 7.38 11. 69 3.57 201103 Q on Q Var% 1056.44 1172.39 -76.58 -52.91 -6.96 0.37 -4.81 0 17.5 4 5.07 165.51 384.23 156.03 1894.59 343.04 0 PBIDT 1391.12 1309.7 PAT 960.39 893.4 Adj. EPS(Rs) 11.96 52.8 PBIDTM% 22.5 24.78 PATM% 15.53 16.91

Lupin Ranbaxy Labs. Sun Pharma Inds. Company News Date 04-Oct-2011 14-Sep-2011 0 9-Sep-2011 09-Sep-2011 05-Sep-2011 Latest Events Date 10-Oct-2011 201103 201012 201103 4508.5 5669.54 3104.7 975.6 1847.79 1518.25 809.98 1148.73 1383.8 18.15 27.28 13.36 21.47 32.49 48.09 17.83 20.2 43.83 News Ranbaxy to extend Daiichi Sankyo product reach to pharmacists across Italy Ranbaxy Laboratories in talks with Ind Swift for low cost version of Lipitor dru g Ranbaxy Laboratories likely to roll-out Lipitor Clone in US on Nov 30 Ranbaxy Laboratories gains on plan to roll-out Lipitor Clone in US Ranbaxy Laboratories' subsidiary launches Esomeprazole tablets Events Board Meeting Details 04-Oct-2011 General Announcement Quarterly Results Ranbaxy Laboratories Ltd has informed BSE regarding a Press Re lease dated October 04, 2011 titled extend Daiichi Sankyo Product reach to Pharm acists Across Italy" Press Release: "Ranbaxy Italia S and Daiichi Sankyo, Italia S.p.A (Daiichi Sankyo), today announced a partnership to leverage Ranbax streng ths and extensive relationships with Pharmacists across Italy, for the distribut ion of Daiichi San start with, Ranbaxy will exclusively distribute two of Daiich i Sankyo's long established brands - CONG LOPRESOR - to all pharmacies, in the c ountry. These drugs are used extensively by Doctors in Italy f of Congestive Hea rt Failure and Hypertension. As per IMS Health, the total annual retail sales of CON LOPRESOR are around Euro 20 Mn. The partnership in Italy provides further i mpetus to the Hybrid B between the two companies by comprehensively addressing D octors and Pharmacists in improving th drugs, for patients. Commenting on the de velopment, Neeraj Sharma, Managing Director, Ranbaxy I "Ranbaxy will use its ext ensive sales force network to ensure adequate retail presence for CONGESC LOPRES OR and provide Daiichi Sankyo with direct access to the Pharmacists, who are imp ortant sta pharmaceutical value chain. The arrangement will ensure the wide avai lability of the drugs and improv accessibility for patients." Daiichi Sankyo, It alia, through its dedicated team of Medical Representativ to take care of the Ph ysicians, mainly Cardiologists and Internists, promoting the two products. Welc arrangement, Antonino Reale, Managing Director, Daiichi Sankyo, Italia, S.p.A sa id, "The partnership product reach and brings together the strength and the mark et equity of the Daiichi Sankyo brands, co aspects, with the strong pharmacy sal es and distribution network of Ranbaxy, for mutual advantage." Italia is one of the fastest growing R&D based pharmaceutical company in Italy. It markets about 15 p in the field of cardiovascular therapies. It is currently ranked among the IMS top 50 pharma companie Ranbaxy Italia is among the top 10 companies in the f ast growing generic market in Italy. Its sales tea sales reps offers a portfolio of almost 60 high quality generic products to a dedicated customer base o pharm acies across the country."

04-Oct-2011 Allotment of Equity shares under ESOP Ranbaxy Laboratories Ltd has informed BSE that the Allotment Committee of Direct ors vide Resolutio passed on October 04, 2011, allotted 325,000 Equity Shares of Rs. 5 each for cash at par to Ranbaxy (Trust), set up to administer Ranbaxy Emp loyee Stock Option Plan-2011. The Trust would allocate the employees of the Comp any and of its subsidiaries on exercise of stock options from time to time unde Employee Stock Option Plan - 2011. The paid-up Equity Share Capital of the Compa ny post allotmen Equity Shares of Rs. 5 each aggregating Rs. 2,109,159,630/-. 05-Sep-2011 General Announcement Ranbaxy Laboratories Ltd has informed BSE regarding a Press Release dated Septem ber 05, 2011 ti Ltd. Launches esomeprazole - First approved generic version of t he product to be made available in t Release: "Ranbaxy (UK) Ltd. announced that it has successfully launched esomeprazole 20 mg and first approved generic bio-e quivalent version of the product NexiumTM, in the United Kingdom (UK), w sales o f ? 60 Mn (IMS June 2011). Commenting on the development, Debashis Dasgupta, Reg ional Europe, said, ?We are committed to bringing high quality, affordable medic ines for the benefit of patie healthcare systems worldwide and in Europe. The in troduction of esomeprazole, in the UK, is an impo significant step in this direc tion.? The product will be offered through pharmacies, retail and wholesal immed iate effect. Esomeprazole is used in the treatment of dyspepsia, peptic ulcer di sease (PUD), g reflux disease (GORD/GERD) and Zollinger-Ellison syndrome. Ranbax y (UK) Ltd. (RUKL) is the who subsidiary of Ranbaxy Laboratories Limited in the UK. Established in 1994, RUKL is today one of the companies in this market provi ding medicines in the cardiovascular, CNS, anti-infective, gastroentero anti-inf lammatory, oncology and pain relief therapeutic segments."

02-Sep-2011 General Announcement Ranbaxy Laboratories Ltd has informed BSE regarding a Press Release dated August 31, 2011 titled Ranbaxy Announce a New Social Contribution Initiative Encompass ing India, Cameroon and Tanzani Release: "Daiichi Sankyo Company, Limited (herea fter, Daiichi Sankyo) and Ranbaxy Laboratories L Ranbaxy) today announced the st art of a synergistic initiative to sponsor mobile healthcare field clinic Camero on and Tanzania as part of their global social contribution activities. The init iative will be impl through the ?Ranbaxy Community Health Care Society.? a non-p rofit organization established by Ran Cameroon and Tanzania through an internati onal NGO, Plan Japan, utilizing the Ranbaxy?s accumul know how and experience in providing mobile healthcare services. India is among the countries with number of infant and maternal mortalities in the world, and Cameroon and Tanzania have some of the mortality rates and maternal mortality ratios among developing count ries in Africa. All three countries lack of easy access to healthcare services. This initiative will contribute directly in improving the lives citizens who lac k such access in the three countries. It is also in alignment with the United Na tion?s g Development Goals? of reducing child mortality, improving maternal heal th, and combating HIV/AIDS other diseases. As a pharmaceutical company with a gl obal business presence, the Daiichi Sankyo G involved with improving access to h ealthcare services globally." Source : AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessa ry steps and measures in compilation of the Data present in the AceEquity.W our level best to provide data from reliable source. However, Accord Fintech Pvt Ltd does not guarantee the accuracy,adequacy or comp Data in the AceEquity and is n ot responsible for any errors or omissions or for the results obtained from the use of such Data. Accord Fin states that it has no financial liability whatsoeve r to the users of AceEquity.Accord or any of its directors/ employees/ represent atives d any liability for any direct or consequential loss arising from the use of the Data contained in the AceEquity or any data generated from

V I I I - A,Sahibzada Ajit Singh b Period: From 18/10/2010 To 11/10/2011 200812 210.19 3324.16 3698.8 2386.75 4470.28 -1318.78 -1044.8 -24.85 84.08 200712 186.54 2341.14 3503.03 2261.48 4135.87 986.56 617.72 170 16.56 67.75 (Rs. in Crore) 200612 186.34 2153.39 3178.6 2133.57 4030.29 608.17 380.54 170 10 .21 62.78 (Rs. in Crore) Q on Q Var% 17.54 5.07 165.51 384.23 156.03 1894.59 343.04 0 2010 06 Y on Y Var% 1061.95 1156.03 -40.47 -0.08 -3.61 6.33 -0.01 0 16.93 6.56 223.99 195392.21 208.03 16.59 117000 0 (Rs. in Crore) ROCE% 17.94 15.23 ROE% 15.36 15. 06

23.01 19.19 23.3 28.51 25.32 22.32 se dated October 04, 2011 titled "Ranbaxy to ess Release: "Ranbaxy Italia S.p.A (Ranbaxy) partnership to leverage Ranbaxy's distribution or the distribution of Daiichi Sankyo products. To ong established brands - CONGESCOR and extensively b y Doctors in Italy for the treatment total annual retail sales of CONGESCOR and s further impetus to the Hybrid Business Model and Pharmacists in improving the accessibility of , Managing Director, Ranbaxy Italia S.p.A, said, e retail prese nce for CONGESCOR and armacists, who are important stakeholders, in the ailabili ty of the drugs and improve their d team of Medical Representatives, will contin ue omoting the two products. Welcoming the ia, S.p.A said, "The partnership exte nds our of the Daiichi Sankyo brands, combining these anbaxy, for mutual advanta ge." Daiichi Sankyo ny in Italy. It markets about 15 products primarily e IMS to p 50 pharma companies in Italy. eric market in Italy. Its sales team comprising 65 to a dedicated customer base of almost 3,000 mittee of Directors vide Resolution by Circulation each for cash at par to Ranba xy ESOP Trust 011. The Trust would allocate the shares to the k options from tim e to time under Ranbaxy al of the Company post allotment is 421,831,926 se dated September 05, 2011 titled "Ranbaxy UK roduct to be made available in th e UK" Press ched esomeprazole 20 mg and 40 mg tablets, the M, in the United King dom (UK), with annual UK Debashis Dasgupta, Regional Director, Ranbaxy medicines for the benefit of patients and meprazole, in the UK, is an important and pharm acies, retail and wholesale stores with a, peptic ulcer disease (PUD), gastroeso phageal axy (UK) Ltd. (RUKL) is the wholly owned 1994, RUKL is today one of the major generic CNS, anti-infective, gastroenterology, anti-viral,

se dated August 31, 2011 titled "Daiichi Sankyo & g India, Cameroon and Tanzania ". Press yo) and Ranbaxy Laboratories Limited (hereafter, sor mobile healthcare field clinics in India, vities. The initiative will be implemented in India orga nization established by Ranbaxy, and in utilizing the Ranbaxy?s accumulated and rich dia is among the countries with the highest and Tanzania have some of the h ighest inlant ies in Africa. All three countries also confront the e directly in improving the lives and health of ment with the United Nation?s global ?Millenn ium ealth, and combating HIV/AIDS, malaria and presence, the Daiichi Sankyo Grou p is actively a present in the AceEquity.We have tried accuracy,adequacy or completeness of an y use of such Data. Accord Fintech especially mployees/ representatives does not accept or any data generated from the AceEquity.

Growth Est Current Qtr. Next Qtr. This Year Next Year Past 5 Years (per annum) N ext 5 Years (per annum) Price/Earnings (avg. for comparison categories) PEG Rati o (avg. for comparison categories) RANBAXY.BO Industry Sector S&P 500 204.20% 671.20% 58.90% -0.70% 8.94% N/A 18.17% 15.02 0.83 14.30% 82.90% 53.70% 27.60% N/A 17.13% 19.18 1.24 17.10% 75.90% 49.70% 23.70% N/A 17.27% 17.48 1.11 21.30% 28.50% 13.70% 14.30% 11.05% 12.9 1.2

Ranbaxy Laboratories Ltd. Balance Sheet - Standalone - Actual - Abridged- [INR-C rore] DESCRIPTION Dec-10 Dec-09 Dec-08 Dec-07 SOURCES OF FUNDS: Share Capital Sh are Warrants & Outstandings Total Reserves Shareholder's Funds Secured Loans Uns ecured Loans Total Debts Total Liabilities APPLICATION OF FUNDS : Gross Block Le ss: Accumulated Depreciation Less: Impairment of Assets Net Block Lease Adjustme nt A/c Capital Work in Progress Pre-operative Expenses pending Assets in transit Investments Current Assets, Loans & Advances Inventories Sundry Debtors Cash an d Bank Other Current Assets Loans and Advances Total Current Assets Less: Curren t Liabilities and Provisions Current Liabilities Provisions Total Current Liabil ities Net Current Assets Miscellaneous Expenses not written off Deferred Tax Ass ets / Liabilities Total Assets Contingent Liabilities Book Value Adjusted Book V alue Dec-06 210.52 11.19 4910.68 5132.39 195.39 4065.33 4260.72 9393.11 2857.63 1145.52 1712 .12 330.18 210.21 181.62 3742.78 4134.61 175.83 3172.55 3348.38 7482.99 2620.92 1027.52 159 3.41 414.92 210.19 182.43 3324.16 3716.77 242.27 3456.53 3698.80 7415.57 2386.75 930.07 1456 .68 428.77 186.54 10.71 2341.14 2538.39 365.07 3137.96 3503.03 6041.42 2261.48 791.96 1469. 52 327.42 186.34 10.28 2153.39 2350.01 224.29 2954.31 3178.60 5528.61 2133.57 699.54 1434. 03 301.88 3804.44 1489.91 1292.63 2712.28 320.60 1869.85 7685.27 2491.08 1647.82 4138.90 3 546.37 3833.69 1230.48 1534.65 754.12 155.87 1240.84 4915.96 2655.84 1039.05 3694.90 12 21.07 419.91 7482.99 749.57 94.03 94.03 3618.03 1198.52 1024.54 1934.94 134.55 855.98 5148.52 3567.97 731.20 4299.17 849 .36 1062.74 7415.57 252.85 84.08 84.08 3237.55 976.07 882.91 180.45 102.03 688.63 2830.08 833.12 738.14 1571.26 1258.82 -251.89 6041.42 169.47 67.75 67.75 2679.95 954.91 1013.75 71.15 83.66 385.53 2508.99 723.33 522.67 1246.00 1263.00 -150.24 5528.61 136.23 62.78 62.78 9393.11 553.77 121.63 121.63 Source:AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessary steps and measures in compilation of the Data present in the not guarantee the accuracy,adequacy or completeness of any Data in the AceEquity and is not respon sible for any errors or o financial liability whatsoever to the users of AceEqui ty.Accord or any of its directors/ employees/ representatives does not a or any data generated from the AceEquity.

we 0.5464 wd 0.4536 x ilation of the Data present in the AceEquity. We have tried our level best to pr ovide data from reliable source. However, Accord Fintech P not responsible for a ny errors or omissions or for the results obtained from the use of such Data. Ac cord Fintech especially states that it h oyees/ representatives does not accept any liability for any direct or consequential loss arising from the use of the D ata contained in the A

source. However, Accord Fintech Pvt Ltd does d Fintech especially states that it has no use of the Data contained in the AceEquity

Ranbaxy Laboratories Ltd. Profit And Loss - Standalone - Actual - Abridged- [INR -Crore] DESCRIPTION Dec-10 Dec-09 Dec-08 Dec-07 No of Months INCOME : Gross Sale s Less: Inter divisional transfers Less: Sales Returns Less: Excise Duty Net Sal es EXPENDITURE : Increase/Decrease in Stock Raw Material Consumed Power & Fuel C ost Employee Cost Other Manufacturing Expenses General and Administration Expens es Selling and Distribution Expenses Miscellaneous Expenses Less: Expenses Capit alised Total Expenditure Operating Profit (Excl OI) Other Income Operating Profi t Interest PBDT Depreciation Profit Before Taxation & Exceptional Items Exceptio nal Income / Expenses Profit Before Tax Provision for Tax Profit After Tax Extra items Adjustments to PAT Profit Balance B/F Appropriations Equity Dividend % Ea rnings Per Share Adjusted EPS 12.00 5687.33 12.00 4797.49 12.00 4503.15 12.00 41 86.50 Dec-06 12.00 4084.15 17.78 5669.54 -138.25 2019.16 164.24 764.30 488.60 538.82 476.50 510.15 4823.53 846.01 1001.78 1847.79 54.19 1793.60 228.35 1565.25 1565.25 416.52 1148.73 17.20 4780.29 -58.57 1850.52 136.80 701.81 420.55 573.80 436.45 74.08 4135.44 64 4.85 604.74 1249.59 39.47 1210.12 148.20 1061.92 1061.92 489.93 571.98 32.87 4470.28 -124.29 1877.69 140.68 581.06 463.09 490.73 515.30 2053.48 5997.73 -1527.45 208.66 -1318.78 145.83 -1464.61 154.47 -1619.08 -1619.08 -574.28 -1044 .80 50.63 4135.87 -39.92 1637.49 97.07 390.38 729.92 392.81 443.87 134.21 3785.82 35 0.05 636.52 986.56 93.43 893.14 118.73 774.41 774.41 156.69 617.72 53.86 4030.29 -44.70 1506.68 86.70 317.78 676.03 341.20 397.33 191.15 3472.16 55 8.13 50.04 608.17 58.44 549.73 106.75 442.98 442.98 62.43 380.54 14.58 56.03 451 .16 170.00 10.21 10.21 -253.22 895.50 40.00 27.28 27.28 -826.58 -254.60 13.61 13.61 216.27 -828.53 -24.85 -24.85 47.12 664.84 170.00 16.56 16.56 Source:AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessary steps and measures in compilation of the Data present in the not guarantee the accuracy,adequacy or completeness of any Data in the AceEquity and is not respon sible for any errors or o liability whatsoever to the users of AceEquity.Accord or any of its directors/ employees/ representatives does not accept any generate d from the AceEquity.

Kd 0.012719 on of the Data present in the AceEquity. We have tried our level best to provide data from reliable source. However, Accord Fintech Pvt responsible for any erro rs or omissions or for the results obtained from the use of such Data. Accord Fi ntech especially states that it has sentatives does not accept any liability for any direct or consequential loss arising from the use of the Data contained in the AceEquity or

rce. However, Accord Fintech Pvt Ltd does ntech especially states that it has no financial ata contained in the AceEquity or any data

Ranbaxy Laboratories Ltd. CashFlow - Standalone - Actual - Abridged- [INR-Crore] DESCRIPTION Dec-10 Profit Before Tax Adjustment Changes In working Capital Cash Flow after changes in Working Capital Interest Paid Tax Paid Other Direct Expen ses paid Extra & Other Item Cash From Operating Activities Cash Flow from Invest ing Activities Cash from Financing Activities Net Cash Inflow / Outflow Opening Cash & Cash Equivalents Cash & Cash Equivalent on Amalgamation / Take over / Mer ger Cash & Cash Equivalent of Subsidiaries under liquidations Translation adj. o n reserves / op cash balances frgn subsidiaries Effect of Foreign Exchange Fluct uations Closing Cash & Cash Equivalent 1565.25 -338.77 365.62 1592.10 -423.21 Dec-09 1061.92 -1149.70 -340.29 -428.07 -237.36 Dec-08 -1619.08 1442.18 -139.17 -316.07 -73.61 1168.89 -2067.80 991.48 92.57 68.93 -665.43 86.12 -214.14 -793.46 862.21 -389.68 -1710.43 2790.63 690.52 172.14 0.33 161.83 0.18 68.93 -0.45 862.21 Source:AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessary steps and measures in compilation of the Data present in the accuracy,adequacy or completeness of any Data in the AceEquity and is not responsible for any erro rs or omissions or for the AceEquity.Accord or any of its directors/ employees/ representatives does not accept any liability for any direct or conseque

Dec-07 774.41 -57.33 59.53 776.61 -90.83 Dec-06 442.98 125.77 -273.86 294.89 20.59 685.77 -708.18 132.19 109.78 62.36 315.49 -2103.74 1739.65 -48.60 110.96 172.14 62.36 n of the Data present in the AceEquity. We have tried our level best to provide data from reliable source. However, Accord Fintech Pvt Lt errors or omissions or for the results obtained from the use of such Data. Accord Fintech especially s tates that it has no financial liability y for any direct or consequential loss arising from the use of the Data contained in the AceEquity or any data generate d from the AceEqu

e. However, Accord Fintech Pvt Ltd does not guarantee the es that it has no fina ncial liability whatsoever to the users of data generated from the AceEquity.

Ranbaxy Laboratories Ltd. Financial Ratios DESCRIPTION Dec-10 Operational & Fina ncial Ratios Earnings Per Share (Rs) 27.28 Adjusted EPS (Rs.) 27.28 CEPS(Rs) 32. 71 DPS(Rs) 2.00 Adj DPS(Rs) 2.00 Book Value (Rs) 121.63 Adjusted Book Value (Rs) 121.63 Tax Rate(%) 26.61 Dividend Pay Out Ratio(%) 7.33 Margin Ratios PBIDTM (% ) 32.49 EBITM (%) 28.47 Pre Tax Margin(%) 27.52 PATM (%) 20.20 CPM(%) 24.21 Perf ormance Ratios ROA (%) 13.61 ROE (%) 25.32 ROCE (%) 19.19 Asset Turnover(x) 0.67 Inventory Turnover(x) 4.18 Debtors Turnover(x) 4.02 Sales/Fixed Asset(x) 2.08 S ales(x)/Working Capital 1.60 Efficiency Ratios Fixed Capital/Sales(x) 0.48 Recei vable days 90.72 Inventory Days 87.29 Payable days 94.02 Growth Ratio Net Sales Growth(%) 18.60 Core EBITDA Growth(%) 47.87 EBIT Growth(%) 47.04 PAT Growth(%) 1 00.83 EPS Growth(%) 100.54 Financial Stability Ratios Total Debt/Equity(x) 0.83 Current Ratio(x) 1.86 Quick Ratio(x) 1.51 Interest Cover(x) 29.88 Total Debt/Mca p(x) 0.17 Dec-09 13.61 13.61 17.13 0.00 0.00 94.03 94.03 46.14 0.00 26.05 22.96 22.13 11.9 2 15.01 7.68 15.28 14.79 0.64 3.95 3.75 1.92 3.93 0.52 97.35 92.40 85.66 6.93 -1 94.75 -174.76 -154.75 -154.74 0.85 1.33 1.00 27.91 0.15 Dec-08 -24.85 -24.85 -21.18 0.00 0.00 84.08 84.08 35.47 0.00 -29.29 -32.72 -35.9 5 -23.20 -19.77 -15.53 -34.47 -21.90 0.67 4.14 4.72 1.94 5.30 0.52 77.30 88.13 6 4.53 8.09 -233.67 -269.76 -269.14 -250.11 1.05 1.20 0.92 -10.10 0.35 Dec-07 16.56 16.56 19.74 8.50 8.50 67.75 67.75 20.23 51.34 23.57 20.73 18.50 14. 76 17.59 10.68 25.38 15.00 0.72 4.34 4.41 1.91 3.33 0.52 82.68 84.18 50.90 2.62 62.22 73.07 62.33 62.16 1.39 1.80 1.18 9.29 0.22 Dec-06 10.21 10.21 13.08 8.50 8.50 62.78 62.78 14.09 83.25 14.89 12.28 10.85 9.3 2 11.93 8.52 16.16 11.22 0.91 4.43 4.49 2.08 3.23 0.48 81.34 82.48 58.75 13.04 9 1.32 120.14 70.11 70.00 1.36 2.01 1.25 8.58 0.22 Source:AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessary steps and measures in compilation of the Data present in the We have tried our level best to provide data from reliable source. However, Accord Fintech Pvt Ltd does not guarantee the accuracy,adequacy or completeness of any Data in the Ace Equity and is not responsible for any errors or omissions or for the obtained fr om the use of such Data. Accord Fintech especially states that it has no financi al liability whatsoever to the users AceEquity.Accord or any of its directors/ e mployees/ representatives does not accept any liability for any direct or conseq ue

Source:AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessary steps and measures in compilation of the Data present in the We have tried our level best to provide data from reliable source. However, Accord Fintech Pvt Ltd does not guarantee the accuracy,adequacy or completeness of any Data in the Ace Equity and is not responsible for any errors or omissions or for the obtained fr om the use of such Data. Accord Fintech especially states that it has no financi al liability whatsoever to the users AceEquity.Accord or any of its directors/ e mployees/ representatives does not accept any liability for any direct or conseq ue Ranbaxy Laboratories Ltd. Valuation Ratios DESCRIPTION Dec-10 Adjusted PE (x) 21 .94 PCE(x) 18.30 Price / Book Value(x) 4.92 Dividend Yield(%) 0.33 EV/Net Sales( x) 4.72 EV/EBITDA(x) 14.48 EV/EBIT(x) 16.52 EV/CE(x) 2.85 M Cap / Sales 4.45 Hig h PE 38.66 Low PE 7.67 Dec-09 38.03 30.21 5.50 0.00 5.09 19.49 22.11 3.25 4.55 38.03 0.00 Dec-08 0.00 -11.92 3.00 0.00 2.77 -9.38 -8.40 1.67 2.37 58.59 0.00 Dec-07 25.73 21.58 6.29 2.00 4.65 19.48 22.14 3.18 3.84 42.27 19.38 Dec-06 38.38 29.97 6.24 2.17 4.39 29.12 35.32 3.20 3.62 117.98 42.03 Source:AceEquity Disclaimer : Accord Fintech Pvt Ltd has taken all the necessary steps and measures in compilation of the Data present in the AceEquity. We have tried our level best to provide data from reliable source. However, Accord Fint ech Pvt Ltd does not guarantee the accuracy,adequacy or completeness of any Data in the AceEquity and is not responsible for any errors or omissions or for the results obtained from the use of such Data. Accord Fintech especially states tha t it has no financial liability whatsoever to the users of AceEquity.Accord or a ny of its directors/ employees/ representatives does not accept any

g= dpr* ROE lation of the Data present in the AceEquity. Pvt Ltd does not guarantee the any errors or omissions or for the results iability whatsoever to the users of bilit y for any direct or consequential loss

lation of the Data present in the AceEquity. Pvt Ltd does not guarantee the any errors or omissions or for the results iability whatsoever to the users of bilit y for any direct or consequential loss lation of the Data present in the rd Fintech Pvt Ltd does not esponsible for any errors or ates that it has no financial resentatives does not accept any

Growth SN Growth Normal Expected ROI Div Payout Retention Ratio 18.17% 11.12% 12% 7.33% 92.67% rf rm Beta Ke Kd We Wd 8% 22% 0.7354 18.30% 1.272% 54.640% 45.360% Year Dividend Intrensic Value 0 1 2 3 4 5 2 2.3634 2.79283 3.300287 3.899949 4.60857 1.997877 1.995755 1.993636 1.99152 1.989405 EBIT/Sales Plant & Equip/ Sales Dep/Plant & Equip Wc/Sales Tax Paid/EBIT Ke Kd W e Wd WACC Earnings After Tax {ebit(1-tax)} Add: Dep Add: Dec in Wc Less: Inc in WC Less: Capital Exp Free Cash Flow CAPM Int Exp/Total Debt Eq/Eq+Debt Debt/Eq+D ebt

64.22915

EBIT/Sales Plant & Equip/ Sales Dep/Plant & Equip Wc/Sales Tax Paid/EBIT 2010 28.47 0.301985 2009 22.96 2008 Average