EX-99.1 2 d433432dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

     

Dr. Reddy’s Laboratories Ltd.

8-2-337, Road No. 3, Banjara Hills,

Hyderabad - 500 034, Telangana,

India.

CIN : L85195TG1984PLC004507

 

Tel     :+91 40 4900 2900

Fax    :+91 40 4900 2999

Email: mail@drreddys.com

www.drreddys.com

28 July 2017

BSE Limited

National Stock Exchange of India Limited

New York Stock Exchange

Dear Sir/Madam,

Ref.: Scrip Code: 500124 (BSE), DRREDDY (NSE), RDY(NYSE)

Sub.: Outcome of 33rd Annual General Meeting & Voting results.

This is with reference to our earlier letter dated 5 July 2017 regarding the 33rd Annual General Meeting (AGM) of the Company held today i.e. 28 July 2017.

In accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), this is to inform you that the Members of the Company transacted the business as stated in the Notice of 33rd AGM, dated 12 May 2017.

 

SI.
no.

  

Description

   Particulars  

A

  

Date of AGM

  

28 July 2017

 

B

  

Total no. of shareholders on record (cut-off) date (21 July 2017)

  

127,219

 

C

  

No. of shareholders present in meeting either in person or through proxy

  

158

 

D

  

Shareholders

  

Present in person
and proxy

    

Equity Shares

      
% to
capital
 
 
   Promoter & Promoter group    11      4,43,98,828        26.78  
   Public    147      2,75,82,930        16.63  
   Total    158      7,19,81,758        43.41  

E

  

No. of shareholders attended the meeting through video conferencing:

Promoter & Promoter group: Not applicable

Public: Not applicable

 

 

 

The agenda-wise disclosure of voting details is enclosed as Annexure-A. The Report of Scrutinizer on remote e-voting & voting at AGM (by electronic means) is enclosed as Annexure - B.

Further, pursuant to Regulation 30 of the Listing Regulations, summary of the 33rd AGM proceedings is enclosed as Annexure – C.

 

LOGO


We would also like to inform you that Dr. Ashok S Ganguly, Independent Director of the Company has ceased to be a Director of the Company w. e. f. 28 July 2017 upon completion of his term.

This is for your information and records.

With regards,

 

LOGO

  

LOGO

Sandeep Poddar

  

Company Secretary

  
Encl: a/a   

CC: National Securities Depositary Limited (NSDL)


Annexure - A

DR. REDDY’S LABORATORIES LIMITED - 33rd AGM VOTING RESULTS IN FORMAT UNDER REGULATION 44 OF

THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIRMENTS) REGULATIONS, 2015

 

Resolution no. 1

Ordinary Resolution-Adoption

of the financial statements

(standalone and consolidated)

of the Company for the year

ended 31 March 2017, including

audited Balance Sheet as at

31 March 2017 and the Statement

of Profit and Loss of the Company

for the year ended on that date

along with the reports of the

Board of Directors and

Auditors thereon.

  

Consolidated (Remote e-Voting + Voting at AGM)

 
  

Promoter/Public

   No. of
shares held
(1)
     No. of votes
polled (2)
     % of votes
polled on
outstanding
shares
(3)
     No. of votes
-in favour (4)
     No. of Votes
against (5)
     % of votes
in favour on
votes polled
(6)
     % of votes
against on
votes polled
(7)
 
   Promoter & Promoter Group      44398828        44398828        100.00        44398828        0        100.00        0.00  
   Public - Institutional holders      105836720        77517169        73.24        77515324        1845        100.00        0.00  
   Public - Others      15585165        172031        1.10        171492        539        99.69        0.31  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Total      165820713        122088028        73.63        122085644        2384        100.00        0.00  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Resolution no. 2

Ordinary Resolution-Declaration

of dividend on the equity shares

for the financial year 2016-17.

  

Consolidated (Remote e-Voting + Voting at AGM)

 
  

Promoter/Public

   No. of
shares held
(1)
     No. of votes
polled
(2)
     % of votes
polled on
outstanding
shares
(3)
     No. of votes
-in favour (4)
     No. of Votes
against
(5)
     % of votes
in favour on
votes polled
(6)
     % of votes
against on
votes polled
(7)
 
   Promoter & Promoter Group      44398828        44398828        100.00        44398828        0        100.00        0.00  
   Public - Institutional holders      105836720        77591677        73.31        77588274        3403        100.00        0.00  
   Public - Others      15585165        171758        1.10        171634        124        99.93        0.07  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Total      165820713        122162263        73.67        122158736        3527        100.00        0.00  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Resolution no. 3

Ordinary Resolution- Re-

appointment of Mr. G V Prasad

(DIN:00057433), who retires by

rotation, and being eligible offers

himself for the re- appointment.

  

Consolidated (Remote e-Voting + Voting at AGM)

 
  

Promoter/Public

   No. of
shares held
(1)
     No. of votes
polled
(2)
     % of votes
polled on
outstanding
shares
(3)
     No. of votes
- in favour (4)
     No. of Votes
against
(5)
     % of votes
in favour on
votes polled
(6)
     % of votes
against on
votes polled
(7)
 
   Promoter & Promoter Group      44398828        44398828        100.00        44398828        0        100.00        0.00  
   Public - Institutional holders      105836720        77583740        73.31        77332967        250773        99.68        0.32  
   Public - Others      15585165        171831        1.10        169623        2208        98.72        1.28  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Total      165820713        122154399        73.67        121901418        252981        99.79        0.21  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

LOGO


Resolution no. 4

Ordinary Resolution-Ratification

of appointment of M/s. S R

Batliboi & Associates LLP,

Chartered Accountants as

Statutory Auditors and

fix their remuneration.

 

Consolidated (Remote e-Voting + Voting at AGM)

 
 

Promoter/Public

   No. of
shares held
(1)
     No. of votes
polled
(2)
     % of votes
polled on
outstanding
shares
(3)
     No. of votes
-in favour
(4)
     No. of Votes
against
(5)
     % of votes
in favour on
votes polled
(6)
     % of votes
against on
votes polled
(7)
 
  Promoter & Promoter Group      44398828        44398828        100.00        44398828        0        100.00        0.00  
  Public - Institutional holders      105836720        77570696        73.29        77527701        42995        99.94        0.06  
  Public-Others      15585165        171550        1.10        168254        3296        98.08        1.92  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  Total      165820713        122141074        73.66        122094783        46291        99.96        0.04  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Resolution no. 5

Ordinary Resolution- Re-

appointment of Mr. K Satish Reddy

(DIN: 00129701) as Whole-time

Director designated as Chairman.

 

Consolidated (Remote e-Voting + Voting at AGM)

 
 

Promoter/Public

   No. of
shares held
(1)
     No. of votes
polled
(2)
     % of votes
polled on
outstanding
shares
(3)
     No. of votes
-in favour
(4)
     No. of Votes
against
(5)
     % of votes
in favour on
votes polled
(6)
     % of votes
against on
votes polled
(7)
 
  Promoter & Promoter Group      44398828        44398828        100.00        44398828        0        100.00        0.00  
  Public - Institutional holders      105836720        77578142        73.30        77451447        126695        99.84        0.16  
  Public-Others      15585165        171939        1.10        169321        2618        98.48        1.52  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  Total      165820713        122148909        73.66        122019596        129313        99.89        0.11  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Resolution no. 6

Ordinary Resolution-Ratification

of remuneration payable to Cost

Auditors, M/s. Sagar & Associates,

Cost Accountants, for the financial

year ending 31 March, 2018.

 

Consolidated (Remote e-Voting + Voting at AGM)

 
 

Promoter/Public

   No. of
shares held
(1)
     No. of votes
polled
(2)
     % of votes
polled on
outstanding
shares
(3)
     No. of votes
-in favour
(4)
     No. of Votes
against
(5)
     % of votes
in favour on
votes polled
(6)
     % of votes
against on
votes polled
(7)
 
  Promoter & Promoter Group      44398828        44398828        100.00        44398828        0        100.00        0.00  
  Public - Institutional holders      105836720        77570408        73.29        77562084        8324        99.99        0.01  
  Public-Others      15585165        171957        1.10        169088        2869        98.33        1.67  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  Total      165820713        122141193        73.66        122130000        11193        99.99        0.01  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

LOGO


Annexure - B

 

LOGO

[Pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014

(as amended)]

To

The Chairman

Dr. Reddy’s Laboratories Limited

8-2-337, Road No.3, Banjara Hills

Hyderabad 500 035

33rd Annual General Meeting of the Members of Dr. Reddy’s Laboratories Limited held on Friday, July 28, 2017 at 9.30 IST at the Kaveri Ball Room, Hotel Trident, HITEC City, Madhapur, Hyderabad - 500 081, Telangana, India.

Dear Sir,

I, G Raghu Babu, Company Secretary in whole-time practice, Partner, R & A Associates, Company Secretaries, Hyderabad was appointed as Scrutinizer by the Board of Directors of the Dr. Reddy’s Laboratories Limited (Company) for the purpose of scrutinizing the remote e-voting and voting process for the 33rd Annual General Meeting (AGM) of the Company in fair and transparent manner pursuant to Section 108 of the Companies Act, 2013 (the Act) read with Rule 20 & 21 of the Companies (Management and Administration) Rules, 2014 (as amended) (the Rules) and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 (Listing Regulations), on the resolutions contained in the Notice of the 33rd AGM of the members of the Company, held on Friday, 28 July 2017 at 9.30 AM IST and also for ascertaining the requisite majority for the resolutions proposed therein.

The management of the Company is responsible to ensure the compliance with the requirements of the Act and the Rules and Listing Regulations relating to remote e-voting and voting process for the resolutions contained in the Notice of the 33rd AGM of the members of the company. Our responsibility as a Scrutinizer is to ensure that remote e-voting and voting process is carried out in a fair and transparent manner and to make a consolidated scrutinizer’s report on remote e-voting and voting at the AGM venue. The Company has engaged the services of National Securities Depository Limited (NSDL) for voting by electronic means (both for remote e-voting and voting at the AGM venue).

In accordance with the Notice of the 33rd AGM sent to the members and the ‘Advertisement’ published pursuant to Rule 20 of the Companies (Management and Administration) Rules, 2014 (as amended), the remote e-voting period was open from 9.00 AM IST on Monday, July 24, 2017 and was closed at 5.00 PM IST on Thursday, July 27, 2017.

The equity shareholders holding shares as on Friday, July 21, 2017, “cut off date”, were entitled to vote on the resolution stated in the Notice of the 33rd AGM of the Company.

The voting at the AGM venue was allowed with our assistance by using an electronic voting system, on the resolutions on which the voting is to be held. The said voting system was provided to all those members who were present at the AGM venue but have not cast their votes by availing the remote e-voting facility. As per the information provided by NSDL, the name of the shareholders who had voted through remote e-voting facility was blocked.

 

LOGO    LOGO


Continuation sheet

After the conclusion of the voting at the AGM venue, the votes cast thereat were downloaded from website of NSDL. Thereafter, the votes on remote e-voting were unblocked on Friday, July 28, 2017 at 11.42 AM IST, in the presence of two witnesses who were not employees of the Company and the e-voting results/list of equity shareholders who have voted for and against were downloaded from the e-voting website of NSDL.

The combined results of the remote e-voting and voting at the AGM venue are given as ‘Annexure-I’ to this report. Based on combined results, we report that, all the resolutions as per the Notice of the 33rd AGM of the Company stands passed with requisite majority.

The electronic data and all other relevant records relating to the remote e-voting and voting at the AGM venue are under my safe custody until the Chairman approves and sign the Minutes of the 33rd AGM and thereafter will be handed over to the Company Secretary of the Company for safe preservation.

Thanking you,

 

   LOGO    For R & A Associates
     

LOGO

Place: Hyderabad

Date: July 28, 2017

     

(G. Raghu Babu)

Partner

CP No. 2820

 

LOGO

 

LOGO


Dr. Reddy’s Laboratories Limited - 33rd Annual General Meeting held on held on Friday, 28 July 2017 at 9.30 AM at Kaveri Ball Room, Hotel Trident, HITEC City, Madhapur, Hyderabad - 500081

 
Combined Results (remote e-Voting and e-voting at AGM venue)       

Annexure-I

 

Item number of

Notice and type of

resolution

  

Description

   Mode of
Voting
   Total no. of
votes cast
     Votes in favour of
the resolution
     Votes against the
resolution
     Invalid Votes  
            No’s      % age      No’s      % age      No’s      % age  

1 - Ordinary Resolution

   Receive, consider and adopt the financial statements (standalone and consolidated) of the Company for the year ended 31 March 2017, including the audited Balance Sheet as at 31 March 2017 and the Statement of Profit and Loss of the Company for the year ended on that date, along with the reports of the board of directors and auditors thereon.   

remote e-voting

     105,136,749        105,136,220        100.00        529        0.00        —          —    
     

e- voting at the
AGM venue

     16,951,279        16,949,424        99.99        1,855        0.01        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     

Total

     122,088,028        122,085,644        100.00        2,384        0.00        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

2 - Ordinary Resolution

   Declaration of dividend on the equity shares for the financial year 2016-17.   

remote e-voting

     105,190,196        105,190,082        100.00        114        0.00        —          —    
     

e- voting at the
AGM venue

     16,972,067        16,968,654        99.98        3,413        0.02        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     

Total

     122,162,263        122,158,736        100.00        3,527        0.00        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

3 - Ordinary Resolution

   Re-appointment of Mr. G V Prasad (DIN: 00057433) who retires by rotation and, being eligible, offers himself for the re-appointment   

remote e-voting

     105,190,269        105,119,338        99.93        70,931        0.07        —          —    
     

e- voting at the
AGM venue

     16,964,130        16,782,080        98.93        182,050        1.07        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     

Total

     122,154,399        121,901,418        99.79        252,981        0.21        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

4 - Ordinary Resolution

   Ratification of appointment of M/s. S R Batliboi & Associates LLP, Chartered Accountants, as statutory auditors and fix their remuneration   

remote e-voting

     105,189,988        105,156,414        99.97        33,574        0.03        —          —    
     

e- voting at the
AGM venue

     16,951,086        16,938,369        99.92        12,717        0.08        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     

Total

     122,141,074        122,094,783        99.96        46,291        0.04        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

5 - Ordinary Resolution

   Re-appointment of Mr. K Satish Reddy (DIN: 00129701) as Whole-time Director designated as Chairman   

remote e-voting

     105,189,877        105,120,783        99.93        69,094        0.07        —          —    
     

e- voting at the
AGM venue

     16,959,032        16,898,813        99.64        60,219        0.36        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     

Total

     122,148,909        122,019,596        99.89        129,313        0.11        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

6 - Ordinary Resolution

   Ratification of remuneration payable to Cost Auditors, M/s Sagar & Associates, Cost Accountants, for the financial year ending 31 March, 2018.   

remote e-voting

     105,190,395        105,187,569        100.00        2,826        0.00        —          —    
     

e- voting at the
AGM venue

     16,950,798        16,942,431        99.95        8.367        0.05        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     

Total

     122,141,193        122,130,000        99.99        11,193        0.01        —          —    
        

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

LOGO    LOGO


LOGO

Annexurc - C

SUMMARY OF PROCEEDINGS OF THE 33rd ANNUAL GENERAL MEETING

The 33rd Annual General Meeting (AGM) of the members of Dr. Reddy’s Laboratories Limited (‘the Company’) was held on Friday, 28 July 2017 at 9.30 AM at Kaveri Ball Room, Hotel Trident, HITEC City, Madhapur, Hyderabad – 500081, India. The following Directors were present:

Directors Present:

 

1. Mr. K Satish Reddy

  

Chairman and Member

2. Mr. G V Prasad

  

Co-Chairman, Managing Director & CEO and Member

3. Mr. Anupam Puri

  

Independent Director and ADR holder

4. Mr. Bharat N Doshi

  

Independent Director and Member

5. Dr. Bruce L A Carter

  

Independent Director and ADR holder

6. Mr. Hans Peter Hasler

  

Independent Director

7. Ms. Kalpana Morparia

  

Independent Director and Member

8. Dr. Omkar Goswami

  

Independent Director and Member

9. Mr. Sridar Iyengar

  

Independent Director

In attendance

  

Mr. Saumen Chakraborty

  

President & Chief Financial Officer

Mr. Sandeep Poddar

  

Company Secretary

Mr. Kaustav Ghose

  

Representative of M/s. S R Batliboi & Associates LLP,

Statutory Auditor

Mr. G Raghu Babu

  

Scrutinize, M/s. R & A Associates,

Practising Company Secretaries

Members Present:

In person 150 representing 4,33,71,829 shares

By proxy 8 representing 2,86,09,929 shares

Pursuant to Article 70 of Articles of Association of the Company, Mr. K Satish Reddy, the Chairman of the Board took the chair and conducted the proceedings of the Meeting. The requisite quorum being present, the meeting was called to order. The Company Secretary read the Notice of the AGM and the Auditors’ Report. The Chairman delivered his speech and addressed the shareholders.

Mr. Anupam Puri, Independent Director chaired the meeting for agenda item nos. 3 and 5 of the Notice of the 33rd AGM, relating to re-appointment of Mr. G V Prasad, retiring by rotation and re-appointment of Mr. K Satish Reddy as Whole-time Director along with terms and conditions of his re-appointment, respectively.

 

LOGO


The shareholders were informed that the copies of audited financial statements (both standalone and consolidated) for the year ended 31 March, 2017, Board’s and Auditor’s report had been posted/emailed as the case may be, to all the Members and that the original documents along with the statutory registers are available for inspection at the AGM venue. Members sought certain clarifications/information, which were appropriately responded to.

The shareholders were further informed that the Company had provided to the Members facility to cast their vote electronically, on all resolutions set forth in the Notice of the 33rd AGM. Members who were present at the AGM venue and had not cast their votes through remote e-voting were provided an opportunity to cast their votes at the meeting. It was further informed that there will be no voting by show of hands at the meeting.

The following items of business, as per the Notice of the 33rd AGM dated 12 May 2017 were transacted at the meeting:

 

  1.

Adoption of audited Financial Statements (both Standalone and Consolidated Financial Statements) for the financial year ended March 31, 2017 and reports of the Board of Directors and the Auditors thereon (Ordinary Resolution).

 

  2.

Declaration of Dividend for the financial year 2016-17 (Ordinary Resolution).

 

  3.

Re-appointment of Mr. G V Prasad retiring by rotation, and being eligible, offered himself for the re-appointment (Ordinary Resolution).

 

  4.

Ratification of appointment of M/s. S R Batliboi & Associates LLP, Chartered Accountants as Statutory Auditors and fix their remuneration (Ordinary Resolution).

 

  5.

Re-appointment of Mr. K. Satish Reddy as Whole-time Director designated as Chairman along with the terms and conditions of his re-appointment. (Ordinary Resolution).

 

  6.

Ratification of remuneration payable to Cost Auditors, M/s. Sagar & Associates, Cost Accountants, for the financial year ending 31 March 2018 (Ordinary Resolution).

The Chairman informed the shareholders that Mr. G Raghu Babu, Partner of M/s. R & A Associates, Practicing Company Secretaries, Hyderabad was appointed as the Scrutinizer for the remote e-voting and voting at the AGM venue in a fair and transparent manner and to report on the voting results for the items as per the notice of the 33rd AGM. The Chairman authorised the Company Secretary on behalf of the Board, to declare the results of voting. The scrutinizers’ report was received and accordingly all the resolutions as set out in the Notice of the 33rd AGM were declared as passed by requisite majority.

For Dr. Reddy’s Laboratories Ltd.

 

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Sandeep Poddar

Company Secretary

  

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