WOCKPHARMA2024-01-012024-03-31 WOCKPHARMA2024-01-012024-03-31 WOCKPHARMA2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:OneOperatingExpenses02Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:OneOperatingExpenses03Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:FourOperatingExpenses02Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:FourOperatingExpenses03Member WOCKPHARMA2024-03-31 WOCKPHARMA2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss02Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss02Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member WOCKPHARMA2024-01-012024-03-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532300 WOCKPHARMA NA Wockhardt Limited Equity 2023-04-01 2024-03-31 2024-05-28 2024-05-21 INR Crores Yearly 15:45:00 19:15:00 2024-05-28 2024-05-28 true Cash Flow Indirect Declaration of unmodified opinion Single segment Pharmaceuticals 2024-01-01 2024-03-31 Audited Consolidated 7000000000.00 540000000.00 7540000000.00 1440000000.00 1540000000.00 -40000000.00 1570000000.00 730000000.00 580000000.00 3520000000.00 9340000000.00 -1800000000.00 0.00 -1800000000.00 20000000.00 -50000000.00 -30000000.00 0.00 -1770000000.00 0.00 0.00 0.00 0.00 -1770000000.00 -400000000.00 -2170000000.00 -1690000000.00 -80000000.00 -2050000000.00 -120000000.00 770000000.00 5 -11.64 -11.64 0.00 0.00 -11.64 -11.64 0.00 0.00 0.00 Notes to Consolidated Results: 1.The results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on May 28, 2024. The Statutory Auditors have expressed an unmodified audit opinion with respect to the Audited Financial Results of the Company for the quarter/ year ended March 31, 2024. 2.The Consolidated Results relate to Wockhardt Limited ('the Company' or 'the Holding Company') and its Subsidiaries (together constitute ‘the Group’) and are prepared by applying Ind AS 110 - Consolidated Financial Statements . 3.During the previous year ended March 31, 2023, subsequent to the settlement agreement with the State of Texas on February 8, 2022, the Group had agreed for an early payment schedule for the settlement of the liability. Pursuant to this revision, Group had recorded an additional cost of Rs.11 crores due to unwinding of the discount (basis the original payment schedule) and has disclosed this as 'Exceptional items' 4.During the previous year ended March 31, 2023, the Group had provided/ incurred loss of Rs. 233 crores, comprising Rs. 123 crores w.r.t property , plant and equipment sold/ held for sale, Rs. 17 crores for inventory, Rs. 80 crores for claims incurred/ expected claims from customers and Rs. 13 crores for other costs pursuant to the restructuring of business in USA and had disclosed these as 'Exceptional items'. During the quarter and current year ended March 31, 2024, Group has further incurred the loss on sale of such property, plant and equipment (classified as asset held for sale ) amounting Rs. 42 crore and Rs 50 crore respectively. These are included in a separate line item Loss on sale of property, plant and equipment in the statement of profit and loss. 5.The Company had accounted for a contract asset of Rs. 50 crores pursuant to a contract manufacturing agreement. The Customer is yet to fulfil its contractual obligations and commitments. Though, the Company is pursuing various options and taking necessary actions related to this matter, given the uncertainty, Company had provided for this contract asset and had disclosed it as 'Exceptional items' during previous year. Company had also purchased certain specific inventory amounting to Rs. 48 crore for this contract which has not been used. During the current period, the Company has made a provision of Rs 14 crores for such inventory basis the current assessment and information available as on date. This expenditure is also reported as an ‘Exceptional item’ 6.During the quarter ended March 31, 2024 , the Company has allotted : - 14,300 ( Year to date: 27,450) Equity shares of face value of Rs. 5/- each pursuant to exercise of employee stock options. - 9,285,163 ( Year to date: 9,285,163 ) Equity shares of face value of Rs. 5/- each pursuant to qualified Institutional placements. These shares were issued at a premium of Rs. 512 /- per share on March 26. 2024 7.Impairment of asset held for sale consists of further impairment of nutrition business assets ( classified as asset held for sale') amounting to Rs. 79 crores, basis quote. Note: The audited standalone results have been filed with the Stock Exchanges under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and are available on the Stock Exchanges websites (www.nseindia.com and www.bseindia.com ) and also on the Company's website www.wockhardt.com. 8.Figures for the quarter ended March 31, 2024 and March 31, 2023 are the balancing figures between the audited figures of the full financial year and the reviewed figures upto the third quarter of the relevant financial year. Single segment 2023-04-01 2024-03-31 Audited Consolidated 27980000000.00 830000000.00 28810000000.00 6200000000.00 5590000000.00 -140000000.00 6290000000.00 3050000000.00 2230000000.00 9650000000.00 32870000000.00 -4060000000.00 -140000000.00 -4200000000.00 160000000.00 360000000.00 520000000.00 0.00 -4720000000.00 0.00 0.00 0.00 0.00 -4720000000.00 60000000.00 -4660000000.00 -4630000000.00 -90000000.00 -4610000000.00 -50000000.00 770000000.00 5 0.00 -32.05 -32.05 0.00 0.00 -32.05 -32.05 0.00 0.00 0.00 Impairment of Asset held for sale 790000000.00 Loss on sale property, plant and equipment 440000000.00 Other expenses 2290000000.00 Impairment of Asset held for sale 790000000.00 Loss on sale property, plant and equipment 520000000.00 Other expenses 8340000000.00 3030000000.00 18750000000.00 4340000000.00 0.00 9530000000.00 530000000.00 12880000000.00 0.00 0.00 0.00 0.00 0.00 650000000.00 650000000.00 5790000000.00 2180000000.00 54650000000.00 6400000000.00 0.00 6180000000.00 5050000000.00 240000000.00 0.00 180000000.00 11650000000.00 0.00 2680000000.00 20730000000.00 1110000000.00 0.00 76490000000.00 770000000.00 32820000000.00 33590000000.00 36620000000.00 8910000000.00 0.00 1700000000.00 10610000000.00 280000000.00 350000000.00 0.00 720000000.00 11960000000.00 12210000000.00 7660000000.00 5920000000.00 25790000000.00 1630000000.00 390000000.00 100000000.00 0.00 27910000000.00 0.00 0.00 39870000000.00 76490000000.00 Notes to Assets Liabilities: 1. Property, Plant and Equipment includes Right of use assets amounting to Rs. 408 crore. 2. Other non-current assets includes Non-current tax assets (net) amounting to Rs. 117 crore. 3. Other non-current financial liabilities consists Lease liabilities amounting to Rs.170 crore. 4. Other current financial liabilities include Lease liabilities amounting to Rs.74 crore. 5. Non-current assets classified as held for sale represents Assets classified as held for sale. Please also, additionally refer to the Statement of Consolidated Audited Results for the quarter and year ended March 31, 2024 as attached to the Outcome of Board Meeting. Notes to Cash Flow Statements: 1. For Notes to Cash flow statement, please refer Audited Results for the quarter and year ended March 31, 2024 as attached which is submitted under Outcome of Board Meeting uploaded today on Stock Exchange. 2. Other adjustments for cash items consists of Provision against inventories/ contract assets Rs. 14 crore, Allowance for expected credit loss, doubtful advances and bad debts provision Rs. 54 crore, Loss on assets sold/write off of fixed assets (net) Rs. 52 crore and Liabilities no longer required written back Rs. 43 crore. 3. Adjustments for unrealised foreign exchange losses and gain consists of Net foreign exchange fluctuation loss/(gain), net Rs. 2 crore. 4. Proceeds from issuing shares consist of Proceeds from Issuance of Equity share capital under Qualified Institutional Placement (QIP) Rs. 480 crore, Transaction cost related to QIP Rs. 12 crore and transaction cost related to Right Issue Rs. 1 crore. 5. Proceeds from exercise of stock options is Rs. 0.01 crore. 6. Proceeds from borrowing consists of Proceeds of Term Loan Rs. 75 crore, Short - term borrowings (net) Rs. 72 crore and Loan from related parties Rs. 402 crore. 7. Repayment of borrowing consists of Repayment of long term borrowings Rs.254 crore, Repayment of loan taken from Related Parties (Long term) Rs. 114 crore and Repayment of loan taken from Related Parties (Short term) Rs. 38 crore. 8. Other inflows (outflows) of cash consists of Finance cost paid Rs. 197 crore. 9. aggregated/segregated in accordance with the prescribed format and to the extent is the requirement of the accounting standard. 3050000000.00 80000000.00 1420000000.00 0.00 350000000.00 0.00 0.00 0.00 0.00 0.00 0.00 -1930000000.00 0.00 2230000000.00 790000000.00 0.00 0.00 0.00 0.00 -20000000.00 0.00 60000000.00 10000000.00 0.00 0.00 0.00 0.00 770000000.00 0.00 6690000000.00 2490000000.00 0.00 0.00 0.00 300000000.00 0.00 2190000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 660000000.00 590000000.00 0.00 0.00 -1570000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30000000.00 0.00 100000000.00 0.00 -1370000000.00 0.00 0.00 4670000000.00 0.00 0.00 0.00 0.00 0.00 5490000000.00 4060000000.00 0.00 790000000.00 0.00 0.00 0.00 -1970000000.00 3340000000.00 4160000000.00 -10000000.00 4150000000.00 900000000.00 5050000000.00 Items that will not be reclassified to Profit or Loss -(charge) / credit (consisting of re-measurement of net defined benefit (liability) / asset) (Continuing operations) -110000000.00 Income tax relating to items that will not be reclassified to Profit or Loss -credit/(charge) 10000000.00 Items that will not be reclassified to Profit or Loss -(charge) / credit (consisting of re-measurement of net defined benefit (liability) / asset) (Continuing operations) -90000000.00 Income tax relating to items that will not be reclassified to Profit or Loss -credit/(charge) 10000000.00 -100000000.00 -80000000.00 0.00 0.00 Items that will be reclassified to Profit or Loss - (charge) / credit (Consisting of Exchange differences on translating the financial statements of foreign operations) (Continued operations) -300000000.00 Items that will be reclassified to Profit or Loss - (charge) / credit (Consisting of Exchange differences on translating the financial statements of foreign operations) (Continued operations) 140000000.00 -300000000.00 140000000.00 0.00 0.00