5000872022-07-012022-09-305000872022-09-305000872022-03-315000872022-04-012022-09-305000872022-07-012022-09-30in-bse-fin:OtherExpenses1Member5000872022-04-012022-09-30in-bse-fin:OtherExpenses1Member5000872022-07-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15000872022-07-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss25000872022-04-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15000872022-04-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss25000872022-07-012022-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15000872022-04-012022-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares500087CIPLAINE059A01026CIPLA LIMITEDEquity2022-04-012023-03-312022-11-042022-10-11INRCroresHalf yearlySingle segmentPharmaceutical2022-11-0410:30:002022-11-0415:30:00trueCash Flow IndirectNot applicable2022-07-012022-09-30UnauditedStandalone415127000009228000004243550000099751000005356200000-11790000059914000007500000017601000009697400000327373000009698200000096982000002652300000-60000002646300000070519000002020000005090000015110000007203000000-274900000692810000069281000000161400000028.748.730.190.198.938.921. The above financial results are prepared in accordance with the Indian Accounting Standard 34 ('Ind AS 34') prescribed under section 133 of the Companies Act, 2013 and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). <BR> 2. The Company had received various notices of demand from the National Pharmaceutical Pricing Authority (NPPA), Government of India, on account of alleged overcharging in respect of certain drugs under the Drugs (Prices Control) Orders. The total demand against the Company as stated in NPPA public disclosure amounts to Rs 3,703.40 Crore. <BR> Out of the above, demand notices pertaining to a set of products being Norfloxacin, Ciprofloxacin, Salbutamol and Theophylline were challenged by the Company (i) in the Honourable Bombay High Court on the ground that bulk drugs contained in the said formulations are not amenable to price control, as they cannot be included in the ambit of price control based on the parameters contained in the Drug Policy, 1994 on which the DPCO, 1995 is based and (ii) in the Honourable Allahabad High Court on process followed for fixation of pricing norms. These petitions were decided in favour of the Company and the matters were carried in appeal by the Union of India to the Honourable Supreme Court of India. The Honourable Supreme Court in its judgment of 1st August, 2003 remanded the said writ petitions to the Honourable Bombay High Court with directions that the Court will have to consider the petitions afresh, having due regard to the observations made by the Honourable Supreme Court in its judgment. On the Union of India filing transfer petitions, the Honourable Supreme Court ordered transfer of the said petitions to the Honourable Bombay High Court to it for being heard with the appeal filed against the Honourable Allahabad High Court order. Subsequently, in its order of 20th July, 2016 the Honourable Supreme Court recalled its transfer order and remanded the petitions to Honourable Bombay High Court for hearing. While remanding the matter to Honourable Bombay High Court, the Honourable Supreme Court directed Cipla to deposit 50% of the overcharged amount with the NPPA as stated in its order of 1st August, 2003 which at that point of time was Rs 350.15 Crore. Complying with the directions passed by the Honourable Supreme Court, Cipla has deposited an amount of Rs 175.08 Crore which has been received and acknowledged by NPPA. Furthermore, the Company has not received any further notices in these cases post such transfer of cases to Honourable Bombay High Court. Meanwhile, the Honourable Supreme Court vide its Order and Judgment dated 21st October, 2016, allowed the Appeals filed by the Government against the Judgment and Order of the Honourable Allahabad High Court regarding basis of fixation of retail prices. The said order was specific to fixation of retail prices without adhering to the formula/process laid down in DPCO, 1995. However, the grounds relating to inclusion of certain drugs within the span of price control continues to be sub-judice with the Honourable Bombay High Court. <BR> The Honourable Bombay High Court had, in expectation of NPPA filing its counter-statement on status of each petitioner’s compliance with the 2003 and 2016 Honourable Supreme Court orders (on deposit 50% of amount demanded), re-scheduled the hearing for 5th June, 2019, but the same was not listed on that date. <BR> The Company had filed amendment applications before the Honourable Bombay High Court to incorporate the effect of a ruling by the Honourable Supreme Court to adjust trade margins of 16% from outstanding demands as not accrued to the manufacturers and to re-calculate interest from date of non-payment of demand within the time period stated in each demand. The said amendment also places certain additional grounds on record. The Honourable Bombay High Court issued notice to Union of India and NPPA on the amendment applications and set 25th January, 2021 for further hearing but the case was not listed due to the COVID-19 lockdown and the next date is awaited. <BR> The Company has been legally advised that it has a substantially strong case on the merits of the matter, especially under the guidelines/principles of interpretation of the Drug Policy enunciated by the Honourable Supreme Court. Although, the decision of Honourable Supreme Court dated 21st October, 2016 referred above was in favour of Union of India with respect to the appeals preferred by the Government challenging the Honourable Allahabad High Court order, basis the facts and legal advice on the matter sub-judice with the Honourable Bombay High Court, no provision is considered necessary in respect of the notices of demand received till date aggregating to Rs 1,736.00 Crore. It may be noted that NPPA in its public disclosure has stated the total demand amount against the Company in relation to the above said molecules to be Rs 3,281.31 Crore (after adjusting deposit of Rs 175.08 Crore), however, the Company has not received any further notices beyond an aggregate amount of Rs 1,736.00 Crore. <BR> In addition, Company had made provision of Rs 121.47 Crore as of 30th September, 2022 for products not part of the referenced writ proceedings. Further, no new recovery notices were received by the Company in the quarter, thus not requiring any fresh cases to be filed by the Company in that regard. Due to COVID-19, courts are hearing only urgent cases, hence the writs that are pending will be heard in due course. <BR> 3. The paid-up equity share capital stands increased to Rs 161.40 Crore (80,70,01,603 equity shares of Rs 2 each) upon allotment of 94,322 equity shares and 78 equity shares of Rs 2 each pursuant to "ESOS 2013-A" and “Cipla ESAR Scheme 2021” respectively. <BR> 4. The Company has considered the possible effects that may result from the COVID-19 pandemic based on the information available to date, both internal and external, in the preparation of these financial results including the recoverability of carrying amounts of financial and non-financial assets and does not expect any material impact on its recoverability. <BR> 5. The Board at its meeting held on 25th January, 2022 had approved the restructuring/transfer of: <BR> a) the India based US business undertaking to Cipla Pharma and Life Sciences Limited (formerly known as Cipla BioTec Limited), a wholly owned subsidiary of the Company; and <BR> b) the Consumer Business Undertaking to Cipla Health Limited (“CHL”), a wholly owned subsidiary of the Company, <BR> as a going concern on a slump sale basis through a Business Transfer Agreement (“BTA”). <BR> <BR> In respect of Consumer Business Undertaking, Company and CHL have successfully completed business transfer as agreed under BTA with closing date of 31st August, 2022. <BR> In respect of transfer of the India based US business undertaking, the Board at its meeting held on 4th November, 2022, decided not to proceed with the proposed transfer, considering various factors including the current operating environment. Accordingly, disclosures as required under Indian Accounting Standard (Ind AS) 105 “Non-Current Assets Held for Sale and Discontinued Operations”, in the standalone financial results for all the periods have been suitably presented. <BR> <BR> Key financial information's of Discontinuing/Restructuring operations: <BR> <BR> (Rs in Crores) <BR> <BR> Particulars Quarter ended Half year ended Year ended <BR> 30.09.2022 30.06.2022 30.09.2021 30.09.2022 30.09.2021 31.03.2022 <BR> Total Revenue from <BR> operations 77.43 93.92 111.58 171.35 189.81 325.88 <BR> <BR> Total expense 57.23 55.39 89.64 112.62 140.38 225.18 <BR> <BR> Profit (+)/loss(-) before tax 20.20 38.53 21.94 58.73 49.43 100.70 <BR> <BR> Total tax expense 5.09 9.70 5.52 14.79 12.44 25.35 <BR> <BR> Net Profit(+)/loss(-) for the <BR> period/year 15.11 28.83 16.42 43.94 36.99 75.35 <BR> <BR> <BR> <BR> 6. The figures of the previous year/period have been regrouped/recast to render them comparable with the figures of the current period. <BR> <BR> 7. The above results have been reviewed and recommended to the Board of Directors by the Audit Committee and subsequently approved by the Board of Directors at its meeting held on 4th November, 2022. These results have been subjected to limited review by statutory auditors who have expressed an unmodified review report. <BR> <BR> <BR> <BR> Cash flow notes: <BR> i. The above statement of cash flow has been prepared under the 'Indirect method' as set out in Indian Accounting Standard (Ind AS) 7- Statement of Cash Flows. <BR> ii. Purchase and sale of property, plant and equipment represents additions and deletions to property, plant and equipment adjusted for movement of capital work in progress, capital advances, capital creditors during the period. <BR> <BR> 2022-04-012022-09-30UnauditedStandalone79974100000209960000082073700000199117000009893900000-506700000119069000009710000030437000001822140000062568000000195057000000195057000005245800000-953000005150500000014355200000587300000147900000439400000014794600000-519700000142749000001427490000001614000000217.7917.780.540.5418.3318.32Other Expenses9697400000Other Expenses182214000003555070000028778000006242000000198990000081580000000900484000001868200000561300000924779000004939300000139275600000356716000002165180000036624600000220670000011478300000450000012387500000843534000007372100000127397100000266672700000161400000023388130000023549530000023549530000007149000007149000008223000005227000004391000002499000000016855600000299660000019852200000185110000059545000001020600000286784000003117740000026667270000097100000-477900000-9901400000000000846300000000304370000000000-136700000149200000585900000119200000-138000000-567900000541800000-751000000-7259800000122459000000003791600000084543000000191200000050900000000001369700000259650000000058380000000000000018682000000001492000003962000000-28500000-386210000000400000000000008600000040350000002890000000-4149500000442700000-890000043380000017729000002206700000In respect of continuing operation - Amount of items that will not be reclassified to profit and loss-50900000In respect of discontinuing operation - Amount of items that will not be reclassified to profit and loss0-50900000In respect of continuing operation - Amount of items that will not be reclassified to profit and loss-100700000In respect of discontinuing operation - Amount of items that will not be reclassified to profit and loss-2200000-102900000-12800000-25900000Amount of items that will be reclassified to profit and loss-316400000-316400000Amount of items that will be reclassified to profit and loss-591500000-591500000-79600000-148800000