Pfizer Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019

NOTES:



1. The above results were reviewed and recommended by the Audit Committee, for approval by the Board, at its Meeting held on 28 May 2019 and were approved and taken on record at the Meeting of the Board of Directors of the Company held on that date.



2. The financial results of the Company have been prepared in accordance with Indian Accounting Standards (‘Ind AS”) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular dated 5 July 2016. Effective 1 April 2018, the Company adopted Ind AS 115 “Revenue from Contracts with Customers” using the cumulative retrospective transition method. There was no material effect on the financial statements on the adoption of Ind AS 115.



3. The financial results for year ended 31 March 2019 have been audited by the statutory auditors of the Company. The audit report does not contain any qualifications. The audit report will be filed with the Stock Exchanges and will also be available on the Company’s website - www.pfizerindia.com



4. Figures for the quarter ended 31 March 2019 and 31 March 2018 represent the difference between the audited figures in respect of the full financial year and published figures of nine months ended 31 December 2018 and 31 December 2017 respectively which were subject to a limited review by the statutory auditors.



5. The Government of India has implemented Goods and Service Tax (GST) with effect from 1 July 2017 which replaced Excise Duty and various other indirect taxes. As per Ind AS 115, the revenue for the quarter and year ended 31 March 2019 is reported net of GST. Sales for the year ended 31 March 2018 includes excise duty up to 30 June 2017. Accordingly sales for the period are not comparable.



6. During the year, the Company divested its rights and interests in two brands for a consideration of Rs. 30 crore. The income, net of related expenses is included in ‘Other Income’ for the quarter ended 31 December 2018 and year ended 31 March 2019.



7. The Company has only one segment which is ‘Pharmaceuticals’. Therefore disclosure relating to segments is not applicable and accordingly not made.



8. The Board of Directors has recommended a dividend of 225 % (Rs. 22.50 per equity share of Rs. 10 each) for the year ended 31 March 2019.



9. Figures for previous quarters / year have been regrouped / restated where necessary.



For Pfizer Limited







S. Sridhar

28 May 2019 Managing Director




Amount of non current financial investment is below rupees 1 Lakh and hence rounded of to zero.