Annual Report 2019-20 Overview 001-120 Reports 121-230 Statements 231-423
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CIPLA LIMITED ANNUAL REPOR T 2019-20 Caring since For Life 1935 Reimagining Tomorrow Table of Contents Corporate Overview Statutory Reports Financial Statements 002 ...................................................... 014 ........................................................ 030 ...................................................... 121 ............................................................ 231 ........................................................ 424 ...................................................... Caring for life since 1935 Ten-Year Highlights Strengthening Our Communities Management Discussion and Standalone Financial Statements GRI Standard Index Analysis with Auditor’s Report 004 ..................................................... 015 ......................................................... 032 ....................................................... 434 ...................................................... About this Report Corporate Information Cipla Product Spread 142 .......................................................... 318 ........................................................ Glossary of Abbreviations Board’s Report Consolidated Financial 005 ....................................................... 016 ........................................................ 034 ....................................................... Statements with Auditor’s Report About Cipla Chairman’s Message Strategy Strengthened for a 175 ......................................................... Sustainable Tomorrow Business Responsibility Report 420 ...................................................... 006 ...................................................... 018 ........................................................ Salient Features of Financial Our First Principles Executive Vice-Chairperson’s 041 ......................................................... 182 ........................................................ Statements of Message Our Value Creation Model Report on Corporate Governance Subsidiaries and Associates 007 ...................................................... Financial Highlights 020 ...................................................... 044 ...................................................... MD & GCEO’s Message Stakeholder Engagement 008 ..................................................... Sustainability Highlights 022 ...................................................... 046 ....................................................... Creating Hope since 1935 Materiality Assessment 010 ....................................................... Global Reach 024 ...................................................... 048 ....................................................... Awards and Accolades Our Integrated Approach to Risk 012 ........................................................ Management Board of Directors 026 ...................................................... Lung Leadership 052 ...................................................... 013 ........................................................ Six Capitals as per Integrated Management Council 028 ...................................................... Reporting Framework Cipla stands strong in the battle against COVID-19 Dr Y K Hamied Samina Hamied Umang Vohra Chairman’s Executive Vice- MD & GCEO’s Message Chairperson’s Message Message “Cipla’s endeavour to ensure equitable access “We are in the business of saving lives “As the world gets a grip on the unabated to quality healthcare is entrenched in our and true to this philosophy, the people COVID-19 pandemic, I firmly believe that it also humanitarian purpose of ‘Caring for Life’ that has of your Company have demonstrated presented us with multiple opportunities to reflect Scan this code with driven our efforts in India and globally over the extraordinary dedication to help combat and reimagine the future! At Cipla, we acted with a QR reader app on past 85 years.’’ the challenges posed by COVID-19.” speed and agility; optimising overall resourcing your smartphone or tablet and know across businesses and creating a digital roadmap more about us Page No. 16 - 17 Page No. 18 - 19 for the future.” Page No. 20 - 21 Caring for life since 1935 Cipla began its Our founder Dr KA Hamied’s With its all-pervasive impact, vision - ‘Never again will India be the pandemic has changed the humble journey in starved of essential drugs’ - served dynamics of workplaces. As the 1935 with the sole as the roadmap for the enterprise new normal takes shape, our purpose of making which had at its core the lofty ideal resilience and agility powers of harnessing Indian expertise our confidence to reimagine healthcare accessible to achieve self-sufficiency in the business landscape. With to all. For over eight pharmaceuticals. technology as our biggest lever, Cipla stands ready and geared to decades the Company With its strong R&D credentials, reimagine a new tomorrow. dedicated itself manufacturing prowess and legacy of innovation, Cipla has played a For Ciplaites, a few key not just to improve critical role in managing global fundamentals – of contributing to access to quality health crises over the last 85 years. society, of making a difference, In 2001, the crusade against HIV and continually striving to make the healthcare but to saw Cipla introducing, for the world healthier and better – are make a difference in first time in the world, a unique deeply ingrained. We are hoping the lives of people fixed dose combination of triple that this makes the difference – in antiretroviral drugs at less than a tipping hope over fear. This is what and in the process USD 1 per day, saving millions of Cipla was born to do; to care for life established an lives. When the SARS pandemic and we will continue to espouse it. engulfed several parts of the world enviable international in 2003, Cipla was one of the first footprint. Today Cipla to launch a generic treatment for is ranked 3rd largest H1N1 influenza. in pharma in India Today, yet again Cipla is at the forefront of the fight against and 3rd largest in COVID-19, providing a spectrum the pharma private of treatment including remdesivir, tocilizumab and favipiravir in market in South Africa addition to other complementary and is among the most therapies. Our Government dispensed generic collaborations, strategic global partnerships and endeavours players in the U.S. with industry association further illustrates our solidarity efforts towards saving millions of lives impacted by the pandemic. Dr K A Hamied (1898 – 1972) Founder, Cipla Corporate Statutory Financial Annual Report 2019-20 Overview 001-120 Reports 121-230 Statements 231-423 About this Report1 About Cipla2 Welcoming our Our core elements Report boundary and scope Established in 1935, Cipla is a For over eight decades, making stakeholders to the to enhance value A purpose- global pharmaceutical company a difference to patients has The FY 2019-20 Integrated Report focused on responsible and inspired every aspect of Cipla’s FY 2019-20 Integrated creation covers the business activities of Cipla driven sustainable growth of complex work. Our paradigm-changing st for the financial year 1 April, 2019 to generics and deepening offer of a triple anti-retroviral Report Cipla’s FY 2019-20 Integrated 31st March, 2020. Our journey towards portfolio in our home markets therapy in HIV/AIDS at less Report adequately showcases shared value creation encompasses promise In our mission to pursue of India, South Africa and than a dollar a day in Africa in its integrated organisational Cipla’s global operations. Information sustained value creation as a North America, as well as 2001 is widely acknowledged as strategy, taking into account on our subsidiaries and joint ventures responsible pharmaceutical key regulated and emerging having contributed to bringing important risks and valued has been showcased wherever Company, we are proud to With over eight markets. Our strengths in the inclusiveness, accessibility inputs from the Stakeholder appropriate, to enhance our disclosures present our third Integrated respiratory, anti-retroviral, and affordability to the centre Engagement and Materiality and provide a holistic view of our decades of Caring Annual Report. This Report aims urology, cardiology, anti- of the HIV movement. A Assessment (SEMA). Our report operational excellence. Exclusions are for Life, we have to provide detailed insights into provided in the respective sections. infective and CNS as well responsible corporate citizen, is defined by the contours of our financial and non-financial adopted a patient- as other key therapeutic Cipla’s humanitarian approach the material topics derived and performance encompassing segments are well-known. Our to healthcare in pursuit of its further elaborated in our six centric approach in our leadership, culture and Responsibility Statement 46 manufacturing sites around purpose of Caring for Life and <IR> Capitals. We also endeavor strategy and to showcase our safeguarding their the world produce 50+ dosage deep-rooted community links to ensure that this Report The Board believes that Cipla’s value creation process to our forms and 1,500+ products wherever it is present, make it addresses the impact and use of FY 2019-20 Integrated Report addresses interests through stakeholders. using cutting-edge technology a partner of choice for global the Capitals on our strategy and all material topics, offers a balanced high quality platforms to cater to our 80+ health bodies and