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Annual Report for the YEAR ENDED MARCH 31, 2017

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Annual Report for the YEAR ENDED MARCH 31, 2017 GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITED Annual Report FOR THE YEAR ENDED MARCH 31, 2017 GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITED Chairman Subodh Bhargava Managing Director Manoj Kumar Directors Kunal Kashyap Mukesh H. Butani Naresh Dayal Contents Sangeeta Talwar P. Dwarakanath Vivek Anand Board of Directors 1 Jonathan Box (till 17.05.2016) Financial Statistics 2 Joaquin B Mascaro (w.e.f. 18.05.2016) Financial Highlights 3 Jaiboy J. Phillips (till 31.08.2016) Anup Dhingra (w.e.f. 01.09.2016) Directors’ Report 4 Business Responsibility Report 19 Company Secretary Corporate Governance Report 25 Sonali Khanna (till 17.05.2016) Shanu Saksena (w.e.f 05.08.2016) CEO & CFO Certification 34 Auditors’ Report 35 Bankers Balance Sheet 40 State Bank of India HDFC Bank Limited Statement of Profit and Loss 42 HSBC Bank Statement of changes in equity 43 Deutsche Bank A.G. Cash Flow Statement 44 ANZ Bank Notes to Financial Statements 46 DBS Bank Standard Chartered Bank Citibank N.A. Registrars And Transfer Agents: Bank Of America Karvy Computershare Pvt. Ltd. Barclays Bank Karvy Selenium Tower B Plot No. 31 & 32, Gachibowli, Financial District, Auditors Nanakramguda, Serilingampally Price Waterhouse Hyderabad - 500 008 Registered Office Website: www.gsk-ch.in Patiala Road, Nabha – 147 201 (Punjab) Investor Email ID: [email protected] Head Office 24 & 25 Floor, One Horizon Centre, DLF Phase - V Corporate Identity Number: L24231PB1958PLC002257 Gurugram – 122 002 (Haryana) 1 GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITED Financial Statistics Ten Year Financial Statistics (Rs. Lacs) 2007 2008 2009 2010 2011* 2012* 2013-14* 2014-15** 2015-16**^ 2016-17**^ (15 Months) (Ind AS) (Ind AS) SOURCES AND APPLICATIONS OF FUNDS SOURCES OF FUNDS SHARE CAPITAL 42,06 42,06 42,06 42,06 42,06 42,06 42,06 42,06 42,06 42,06 RESERVES & SURPLUS 6,04,29 7,18,82 8,63,04 9,17,98 11,02,12 13,18,92 17,70,79 20,70,98 27,56,65 30,80,61 TOTAL SHAREHOLDERS’ 6,46,35 7,60,88 9,05,10 9,60,04 11,44,18 13,60,98 18,12,85 21,13,04 27,98,71 31,22,67 FUNDS FUNDS EMPLOYED 6,46,35 7,60,88 9,05,10 9,60,04 11,44,18 13,60,98 18,12,85 21,13,04 27,98,71 31,22,67 DEFERRED TAX LIABILITIES 17,28 6,58 - - - - - - - - TOTAL 6,63,63 7,67,46 9,05,10 9,60,04 11,44,18 13,60,98 18,12,85 21,13,04 27,98,71 31,22,67 APPLICATION OF FUNDS GROSS FIXED ASSETS 5,40,99 5,55,34 5,96,26 7,07,29 7,85,82 8,53,47 8,93,07 11,01,60 6,20,82*** 6,89,27*** DEPRECIATION 2,97,65 3,29,24 3,64,00 3,96,71 4,35,97 4,62,40 5,14,71 5,67,54 88,16*** 1,44,17*** NET FIXED ASSETS 2,43,34 2,26,10 2,32,26 3,10,58 3,49,85 3,91,07 3,78,36 5,34,06 5,32,66*** 5,45,10*** INVESTMENTS 2,97,83 0.05 0.05 0.05 - - - - - - DEFERRED TAX ASSET - - 11,01 26,73 39,89 61,63 90,30 1,04,34 1,13,13 1,27,80 NET ASSETS (CURRENT 1,22,46 5,41,36 6,61,83 6,22,73 7,54,44 9,08,28 13,44,19 14,74,64 21,52,92 24,49,77 AND NON CURRENT) TOTAL APPLICATION 6,63,63 7,67,46 9,05,10 9,60,04 11,44,18 13,60,98 18,12,85 21,13,04 27,98,71 31,22,67 *2011, 2012 and 2013-14 based on Revised Schedule VI **2014-15, 2015-16 and 2016-17 based on Schedule III ***For 2015-16 and 2016-17, the Company has availed the deemed cost exemption and used the previous GAAP net carrying amount of property, plant and equipment including capital work in progress as deemed cost. Refer Note 3 of Financial Statements ^2015-16 and 2016-17 are stated as per Ind AS Ten Year Track Record (Rs. Lacs) 2007 2008 2009 2010 2011 2012 2013-14 2014-15 2015-16 2016-17 (15 Months) (Ind AS)* (Ind AS)* TURNOVER 12,78,46 15,42,78 19,21,50 23,06,12 26,85,51 30,79,36 46,82,92 41,36,44 43,62,25 42,08,57 PROFIT BEFORE TAX 2,45,12 2,85,71 3,53,86 4,51,80 5,40,26 6,48,69 10,16,07 8,89,14 10,55,95 10,10,42 NET PROFIT 1,62,68 1,88,33 2,32,78 2,99,85 3,55,21 4,36,76 6,74,75 5,83,60 6,87,28 6,56,68 OTHER COMPREHENSIVE N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. (3,91) 21,60 INCOME (NET) TOTAL COMPREHENSIVE N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. 6,83,37 6,78,28 INCOME DIVIDEND 50,47 63,08 75,70 2,10,28 1,47,19 1,89,25 1,89,25 2,31,31 2,31,31** 2,94,39** CORPORATE DIVIDEND 8,58 10,72 12,87 34,92 23,88 30,70 32,16 47,09 47,09** 59,93** TAX RETAINED EARNINGS 1,03,63 1,14,53 1,44,22 54,65 1,84,13 2,16,80 4,51,87 3,05,21 4,04,98** 3,23,96** DIVIDEND - % 1,20 1,50 1,80 5,00 3,50 4,50 4,50 5,50 5,50 7,00 EARNINGS PER SHARE 38.68 44.78 55.35 71.30 84.46 103.75 160.44 138.77 163.42 156.15 (Rs.) NUMBER OF SHARE HOLDERS 22,315 22,548 22,443 22,867 25,639 27,020 26,423 27,288 33,352 41,916 *2015-16 and 2016-17 are stated as per Ind AS **For 2015-16 and 2016-17, the company has reported Dividend, CDT & Dividend % on actual payment basis as per Ind AS. 2 FINANCIAL HIGHLIGHTS Financial Highlights Turnover Profit Before Tax (Rs. Lacs) (Rs. Lacs) 5,00,000 1,20,000 30 4,50,000 1,00,000 4,00,000 24 24 25 3,50,000 80,000 22 21 3,00,000 20 2,50,000 60,000 21 2,00,000 40,000 1,50,000 15 1,00,000 20,000 50,000 3,07,936 4,68,292 4,13,644 4,36,225 4,20,857 64,869 1,01,607 88,914 1,05,595 1,01,042 0 0 10 2012 2013-14 2014-15 2015-16* 2016-17* 2012 2013-14 2014-15 2015-16* 2016-17* (15 Months) (15 Months) PBT as a % to Turnover EBIT (Rs. Lacs) 80,000 24 18 70,000 18 20 17 60,000 17 16 16 50,000 40,000 12 30,000 8 20,000 4 10,000 53,733 81,023 66,799 78,072 76,932 0 0 2012 2013-14 2014-15 2015-16* 2016-17* (15 Months) EBIT as a % to Turnover Net Profit Current Ratio (Times) (Rs. Lacs) (Rs. Lacs) 7,00,000 2.59 6,00,000 70,000 24 2.58 1,60,111 60,000 20 5,00,000 1.96 1,45,666 50,000 16 16 16 1.92 14 14 14 4,00,000 40,000 1.85 1,68,604 12 3,00,000 1,43,158 30,000 1,10,530 8 20,000 2,00,000 4 10,000 43,676 67,475 58,360 68,728 65,668 1,00,000 0 0 2,04,296 2,75,393 3,30,542 3,75,761 4,14,462 2012 2013-14 2014-15 2015-16* 2016-17* 0 (15 Months) 2012 2013-14 2014-15 2015-16* 2016-17* Net Profit as a % to Turnover (15 Months) Current Assets Current Liabilities Current Ratio *2015-16 & 2016-17 are stated as per Ind AS 3 GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITED Directors’ Report Your Directors are pleased to present the Annual Report on the business alive our product proposition of making child “Taller, Stronger and Sharper”. and operations of your Company and the audited Financial Statements of the Company for the year ended March 31, 2017, in accordance with the Your Company launched in May, 2016 Cardia+ which contains Nutriose, Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed which keeps the consumer fuller for longer so that they eat less and do not under Section 133 of the Companies Act, 2013 and other recognised eat in between meals. This is clinically proven to reduce RLP Cholesterol, accounting practices and policies to the extent applicable provisions of reduce insulin spikes, reduce blood sugar spikes. the Act from FY 2016-17. Women’s Horlicks continued its differentiation through “Bone Health” Financial Results platform which was re-staged in August, with a unique combination of (Rs. Lacs) Calcium, Vitamin D and Vitamin K2 that helps to bind the bones. It was Year Year backed by a holistic campaign to remind consumers that it was time to start ended ended consumption of nutrients for strong bones once you turn ‘30’. The digital March 31, 2017 March 31, 2016 campaign “Strong to the Bone”, launched on Women’s Day, included an Revenue from operations 44,21,08.89 45,64,37.68 online Bone Mineral Density test.
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