Dr Reddys Laboratories Ltd 6-K, filed Oct 28, 2020
Dr Reddys Laboratories Ltd (RDY)
About this 6-K
Dr Reddys Laboratories Ltd filed this 6-K on October 28, 2020.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
October, 2020
Commission File Number 1-15182
DR. REDDY’S LABORATORIES LIMITED
(Translation of registrant’s name into English)
8-2-337, Road No. 3, Banjara Hills
Hyderabad, Telangana 500 034, India
+91-40-49002900
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ______
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ______
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b): 82-________.
EXHIBITS
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
DR. REDDY’S LABORATORIES LIMITED (Registrant) | |||
| Date: October 28, 2020 | By: | /s/ Sandeep Poddar | |
| Name: | Sandeep Poddar | ||
| Title: | Company Secretary | ||
Exhibit 99.1
 |
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 |
October 28, 2020
| Corporate Relationship Department | National Stock Exchange of India Ltd. |
| BSE Limited | “Exchange Plaza” |
| Dalal Street, Fort | Bandra-Kurla Complex, Bandra (East), |
| Mumbai – 400 001 | Mumbai – 400 051 |
| Fax Nos.: 022-22723121 / 22723719 / | Fax Nos.: 022-26598120/ 26598237/ |
| 22722037 / 22722039 | 26598238 |
| Scrip Code: 500124 | Scrip Code: DRREDDY-EQ |
Dear Sirs,
Sub: Intimation regarding appointment of new Chief Financial Officer
Please find enclosed a Press Release in term of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on “Dr. Reddy's Laboratories announces appointment of new Chief Financial Officer”.
This is for your information and records.
With regards,
| /s/ Sandeep Poddar | |
| Sandeep Poddar | |
| Company Secretary |
CC:- New York Stock Exchange Inc.(Stock Code :RDY)
| CONTACT | ||
| DR. REDDY'S LABORATORIES LTD. | Investor relationS | Media relationS |
|
8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India. |
AMIT AGARWAL amita@drreddys.com (Ph: +91-40-49002135) |
APARNA TEKURI aparnatekuri@drreddys.com (Ph: +91-40- 49002446) |
Dr. Reddy's Laboratories announces appointment of new Chief Financial Officer
| Hyderabad, India, 28 October, 2020 | For Immediate Release |
Hyderabad, India, October 28, 2020— Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) today announced that Parag Agarwal will be joining the Company as Chief Financial Officer (Designate) on November 2, 2020. The Board of Directors at their meeting held today, has approved his appointment as a Chief Financial Officer (KMP*) of the Company effective December 1, 2020.
In a career spanning over 33 years, Parag has held several leadership positions, contributing significantly to the financial performance of his organizations. With over 10 years of working experience in several countries outside India, he brings deep global experience in leading business & financial strategy, transforming finance function, as well as in M&A-strategy & execution. He has expertise in driving performance management of investments, financial result delivery and driving operating margin improvement through revenue & cost optimization across the value chain.
Parag is a qualified Chartered Accountant and Company Secretary. He joins Dr. Reddy’s from Reckitt Benckiser PLC, where he was CFO-Health, based in London. Prior to his nine years stint at Reckitt, Parag was associated with organizations such as Unilever, GSK Consumer Healthcare & Genpact.
Saumen Chakraborty, President & CFO will retire effective December 1, 2020. In his 19+ years career at Dr. Reddy’s, Saumen has contributed significantly, leading functions such as HR, Global Generics Operations, Quality, Finance, Legal and Digital & Process Excellence. Saumen will continue to be associated with the Company as an Advisor. He will also help Parag to transition effectively.
Commenting on his appointment, Parag Agarwal said, “Dr Reddy’s is driven by its purpose, high governance standards, a robust strategy and strong leadership. I am truly excited to join the organization in its transformation journey to create even more value for its customers and patients.”
KMP* – Key Manageriel Personnel
About Dr. Reddy’s: Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, hereinafter “Dr. Reddy's”) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com
Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers’, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2020. The company assumes no obligation to update any information contained herein.”
Exhibit 99.2
 |
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 |
October 28, 2020
To,
The Secretary
BSE Limited
National Stock Exchange of India Limited
New York Stock Exchange Inc.
Dear Sir/Madam,
Sub: Outcome of Board Meeting
Further to our letter dated September 27, 2020, we would like to inform you that the Board of Directors of the Company at their meeting held on October 28, 2020 have inter alia approved the Unaudited Financial Results of the Company for the quarter and half-year ended September 30, 2020.
In terms of the above, we are enclosing herewith the following:
| 1. | Unaudited Consolidated Financial Results of the Company for the quarter and half-year ended September 30, 2020 prepared in compliance with International Financial Reporting Standards (IFRS) as issued by International Accounting Standards Board (IASB). |
| 2. | Press Release on Financial Results of the Company for the above period. |
| 3. | Unaudited Consolidated Financial Results of the Company and its subsidiaries for the quarter and half-year ended September 30, 2020 as per Indian Accounting Standards. |
| 4. | Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2020 as per Indian Accounting Standards. |
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Limited Review Reports of the Statutory Auditors on the Unaudited Standalone and Unaudited Consolidated Financial Results at point nos. 3 and 4 are also enclosed.
Further, the Board of Directors have also given their in-principle approval to list the Company’s American Depository Receipts (ADRs) on NSE IFSC Limited (NSE International Exchange, GIFT City, Gujarat, India) subject to compliance of applicable laws and approval of concerned authorities.
The Board Meeting commenced at 08.15 AM and concluded at 01.00 PM
This is for your information and records.
With regards,
| /s/ Sandeep Poddar | |
| Sandeep Poddar | |
| Company Secretary |
Encl: as above
Exhibit 99.3
 |
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 |
October 28, 2020
The Secretary
BSE Limited
National Stock Exchange of India Ltd.
New York Stock Exchange Inc.
Dear Sir/Madam,
Sub: Grant of Stock Options and Allotment of Equity Shares on exercise of ESOP
This is to inform you that the Nomination, Governance & Compensation Committee (‘Committee’) of the Board of Directors of the Company at their meeting held on October 27, 2020, approved the allotment of Equity shares to employees on exercise of their Stock Options as per the following details:
| a) | 6,932 equity shares of Rs. 5/- each pursuant to Dr. Reddy's Employees Stock Option Scheme, 2002. |
| b) | 3,305 equity shares of Rs. 5/- each underlying 3,305 ADRs pursuant to Dr. Reddy's Employees ADR Stock Option Scheme, 2007. |
| c) | 5,481 equity shares underlying 5,481 ADRs exercised at fair market value pursuant to Dr. Reddy's Employees ADR Stock Option Scheme, 2007. |
Please find enclosed the details as required under Regulation 10(c) of SEBI (Share Based Employee Benefits) Regulation, 2014.
Further, the Committee has also approved grant of 3,244 Indian stock options, exercisable at par value of Rs.5/- under "Dr. Reddy's Employees Stock Option Scheme, 2002". Out of these options, 1,696 stock options vest uniformly over 4 years and 1,548 options have a cliff vesting at the end of third year.
This is for your information and records.
With regards,
| /s/ Sandeep Poddar | |
| Sandeep Poddar | |
| Company Secretary |
Encl: as above
Details under Regulation 10(c) of SEBI (Share Based Employee Benefits) Regulation, 2014
| 1 | Company name and address of Registered Office: Dr. Reddy's Laboratories Limited 8-2-337, Road No.3, Banjara Hills, Hyderabad – 500034 |
| 2 | Name of the Stock Exchanges on which the company’s shares are listed: BSE Ltd. National Stock Exchange of India Limited New York Stock Exchange Inc. (ADRs) |
| 3 | Filing date of the statement referred in Regulation 10(b) of the SEBI (Share Based Employee Benefits) Regulations, 2014 with Stock Exchange: The Schemes were institutionalised under the erstwhile SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and appropriate details under Schedule V were filed. The Schemes complies with provisions of SEBI (Share Based Employee Benefits) Regulation, 2014. |
| 4 | Filing Number, if any : NA |
| 5 | Title of the Scheme pursuant to which shares are issued, if any: Dr. Reddy’s Employees Stock Options Scheme, 2002 and Dr. Reddy’s Employees ADR Stock Options Scheme, 2007 |
| 6 | Kind of security to be listed: Equity Shares |
| 7 | Par value of the shares: Rs. 5/- |
| 8 | Date of issue of shares: October 27, 2020 (Date of allotment on exercise) |
| 9 | Number of shares issued: 15,718 |
| 10 | Share Certificate No., if applicable: NA |
| 11 | Distinctive number of the share, if applicable : 171346784 to 171362501 |
| 12 | ISIN Number of the shares if issued in Demat : INE089A01023 |
| 13 |
Exercise price per share: a) 10,237 equity shares exercised at Rs. 5/- per share b) 5,006 equity shares exercised at Rs. 2,607 per share c) 475 equity shares exercised at Rs. 2,814 per share |
| 14 |
Premium per share: a) 10,237 equity shares – Nil b) 5,006 equity shares exercised at Rs. 2,602 per share c) 475 equity shares exercised at Rs. 2,809 per share |
| 15 | Total Issued shares after this issue : 166,285,197 (*) |
| 16 | Total Issued share capital after this issue : Rs. 831,425,985/- |
| 17 | Details of any lock-in on the shares : NA |
| 18 | Date of expiry of lock-in: NA |
| 19 | Whether shares identical in all respects to existing shares if not, when will they become identical?: Yes, the shares rank pari passu with the existing shares |
| 20 | Details of listing fees, if payable : NA |
(*) Total paid up capital after this issue: 166,284,997 i.e. Rs. 831,424,985 (difference of 200 due to forfeited shares of Rs. 5/- each in September 1988 due to non-payment of allotment money.
