August 16, 2022
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
Dear Sirs/Madam,
Sub: Disclosure of related party transactions for the half year ended March 31, 2022.
Pursuant to Regulation 23(9) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the applicable disclosure on related party transactions for the half year ended March 31, 2022, in the requisite format.
This is for your information and record.
Thanking you,
Yours faithfully,
For Dr. Reddy's Laboratories Limited
KUMAR Digitally signed by KUMAR
RANDHI RANDHIR SINGH Date: 2022.08.16
- SINGH23:20:39 +05'30'
K Randhir Singh
Company Secretary & Compliance Officer
Disclosure on Related Party Transactions on Consolidated Basis for the half year ended March 31, 2022
- In accordance with the provisions of Ind AS 24, Related Party Disclosures and the Companies Act, 2013, Company's Directors, members of the Company's Management Council and Company Secretary are considered as Key Managerial Personnel.
List of Key Managerial Personnel of the Company is as below:
1. | K Satish Reddy | Whole-time director (Chairman) | ||
2. | G V Prasad | Whole-time director (Co-Chairman and Managing Director) | ||
3. | Allan Oberman | Independent director | ||
4. | Bharat Narotam Doshi (till 10 May 2021) | Independent director | ||
5. | Dr. Bruce LA Carter | Independent director | ||
6. | Dr. K P Krishnan (from 07 January 2022) | Independent director | ||
7. | Kalpana Morparia | Independent director | ||
8. | Leo Puri | Independent director | ||
9. | Prasad R Menon | Independent director | ||
10. | Penny Wan (from 28 January 2022) | Independent director | ||
11.Shikha Sharma | Independent director | |||
12. | Sridar Iyengar | Independent director | ||
13. | Anil Namboodiripad (till 01 June 2021) | Management council member | ||
14. | Archana Bhaskar | Management council member | ||
15. | Deepak Sapra | Management council member | ||
16.Dr. Raymond de Vre (till 31 March 2021) | Management council member | |||
17. | Erez Israeli | CEO and management council member | ||
18. | Ganadhish Kamat (till 31 March 2021) | Management council member | ||
19. | Marc Kikuchi | Management council member | ||
20. | Mukesh Rathi (from 1 December 2020) | Management council member | ||
21. | M V Ramana | Management council member | ||
22. | Parag Agarwal (from 1 December 2020) | Management council member | ||
23.Patrick Aghanian | Management council member | |||
24. | P Yugandhar (till 30 September 2021) | Management council member | ||
25. | Sauri Gudlavalleti (till 13 January 2022) | Management council member | ||
26. | Sanjay Sharma | Management council member | ||
27. | Saumen Chakraborty(till 20 November 2021) | Management council member | ||
28. | K Randhir Singh (from 17 March 2022) | Company secretary | ||
29. | Sandeep Poddar (till 18 November 2021) | Company secretary | ||
KUMAR RANDHI R SINGH
Digitally signed by KUMAR RANDHIR SINGH Date: 2022.08.16 23:21:24 +05'30'
b) List of related parties with whom transactions have taken place during the current and/or previous year:
1. | K Samrajyam | Mother of Chairman |
2. | K Deepti Reddy | Spouse of Chairman |
3. | G Anuradha | Spouse of Co-chairman |
4. | G Mallika Reddy | Daughter of Co-chairman |
5. | G V Sanjana Reddy | Daughter of Co-chairman |
6. | Akhil Ravi | Son-in-law of Co-chairman |
7. | Shravya Reddy Kallam | Daughter of Chairman |
8. | Kunshan Rotam Reddy Pharmaceuticals | Enterprise over which the Company exercises joint control with |
Company Limited | other joint venture partners and holds 51.33% of equity shares | |
9. | DRES Energy Private Limited | Enterprise over which the Company exercises joint control with |
other joint venture partners and holds 26% of equity shares | ||
10.Araku Originals Private Limited | Enterprise over which whole-time directors have significant | |
influence | ||
11.AverQ Inc | Enterprise over which Key Managerial Personnel have significant | |
influence | ||
12.Cancelled Plans LLP | Enterprise over which relatives of whole-time directors have | |
significant influence | ||
13.Dr. Reddy's Foundation | Enterprise over which whole-time directors and their relatives | |
have significant influence | ||
14.Dr. Reddy's Institute of Life Sciences | Enterprise over which whole-time directors have significant | |
influence |
- Green Park Hospitality Services Private Enterprise controlled by relative of a whole-time director Limited
- Green Park Hotels and Resorts Limited Enterprise controlled by relative of a whole-time director
17.Indus Projects Private Limited | Enterprise over which relatives of whole-time directors have |
significant influence | |
18.Pudami Educational Society | Enterprise over which whole-time directors and their relatives |
have significant influence | |
19.Samarjita Management Consultancy | Enterprise controlled by Key Managerial Personnel (till 30 |
Private Limited | November 2021) |
20.Shravya Publications Pvt. Ltd. | Enterprise over which whole-time directors and their relatives |
have significant influence | |
21.Stamlo Industries Limited | Enterprise controlled by whole-time directors |
Further, the Company contributes to the Dr. Reddy's Laboratories Gratuity Fund, which maintains the plan assets of the Company's Gratuity Plan for the benefit of its employees.
KUMAR RANDHI R SINGH
Digitally signed by KUMAR RANDHIR SINGH Date: 2022.08.16 23:21:41 +05'30'
c) The following is a summary of significant related party transactions:
Particulars | For the year ended | For the half year ended |
31 March 2022 | 31 March 2022 | |
Research and development services received | ||
Dr.Reddy's Institute of Life Sciences | 122 | 71 |
Contributions towards social development | ||
Dr.Reddy's Foundation | 310 | 116 |
Catering services | ||
Green Park Hospitality Services Private Limited | 319 | 159 |
Facility management services | ||
Green Park Hospitality Services Private Limited | 36 | 18 |
Hotel expenses | ||
Green Park Hotel and Resorts Limited | 11 | 8 |
Stamlo Industries Limited | 7 | 3 |
Total | 18 | 11 |
Civil works | ||
Indus Projects Private Limited | 52 | 7 |
Professional consulting services | ||
Samarjita Management Consultancy Private Limited | 71 | 29 |
AverQ Inc. | 4 | 3 |
Total | 75 | 32 |
Sales of goods | ||
Kunshan Rotam Reddy Pharmaceuticals Company Limited | 21 | 8 |
License fees received | ||
Kunshan Rotam Reddy Pharmaceuticals Company Limited | 57 | 57 |
Lease rentals paid to | ||
Key Managerial Personnel | ||
K Satish Reddy | 15 | 8 |
Relatives of Key Managerial Personnel | 23 | 13 |
Total | 38 | 21 |
Lease rentals received | ||
DRES Energy Private Limited | 1 | -* |
*Rounded off to million. | ||
Purchase of Solar power | ||
DRES Energy Private Limited | 124 | 63 |
Salaries to relatives of Key Managerial Personnel | 12 | 7 |
Remuneration to Key Managerial Personnel | ||
Salaries and other benefits(1) | 638 | 313 |
Contributions to defined contribution plans | 31 | 15 |
Commission to directors | 305 | 118 |
Share-based payments expense | 211 | 102 |
Total | 1,185 | 548 |
- Some of the Key Managerial Personnel of the Company are also covered under the Company's Gratuity Plan along
KUMAR RANDHIR SINGH
Digitally signed by KUMAR RANDHIR SINGH Date: 2022.08.16 23:21:59 +05'30'
with the other employees of the Company. Proportionate amounts of gratuity accrued under the Company's Gratuity Plan have not been separately computed or included in the above disclosure.
d) The Company has the following amounts due from/ to related parties:
Particulars | As at |
31 March 2022 | |
Due from related parties | |
Key Managerial Personnel (towards rent deposits) | 8 |
DRES Energy Private Limited | 1 |
Total | 9 |
Due to related parties | |
Green Park Hospitality Services Private Limited | 2 |
Indus Projects Private Limited | 7 |
Green Park Hotels and Resorts Limited | 1 |
Others | - * |
Total | 10 |
*Rounded off to million.
KUMAR Digitally signed
by KUMAR
RANDHI RANDHIR SINGH
Date: 2022.08.16
R SINGH 23:22:18 +05'30'
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Dr. Reddy's Laboratories Limited published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 19:13:04 UTC.