Dr Reddys Laboratories (DRL) is based in Hyderabad, India, and is one of that countrys leading pharmaceutical manufacturers, specializing in generic and biosimilar drugs DRL is publicly listed on the Bombay Stock Exchange and prepares its primary financial statements, included in the annual report, using Ind AS However, American depositary shares for DRL stock also trade on the New York Stock Exchange under the ticker RDY Therefore, in addition to its standard annual report, DRL must file a Form 20 F with the U S SEC annually Note that like most Indian companies, DRLs fiscal year runs from April 1st to March 31st of the following calendar year Required Access DRLs annual report and 20 F for the 201920 fiscal year on the Investor Relations section of the companys website (www drreddys com investors reports and filings) Answer the following questions using the companys 201920 consolidated financial statements Be sure not to use DRLs parent level statements, which are also included in the annual report The consolidated financial statements contained in DRLs annual report were prepared under Ind AS, and not IFRS Review these to evaluate whether the financial statements presented comply with the presentation requirements in IAS 1, Presentation of Financial Statements Document your evaluation Compare basic accounting figures in the Ind AS consolidated financial statements of the annual report with the consolidated financial statements of the 20 F prepared using IFRS and answer the following questions Which system is more conservative in how it reckons profit and loss, operating cash flow, the value of total assets, and the value of shareholders equity To answer this question, compare total revenue, after tax income (profit and loss), and operating cash flow under both systems for fiscal 201920 and fiscal 201819 Compare the value of total assets and shareholders equity under both systems as of March 31, 2020 and March 31, 2019 Based on your analysis immediately above, do the differences seem material Assume that you are an equity analyst who is very familiar with IFRS but unfamiliar with Ind AS Based on the results of your analysis above, would you feel confident in making investment decisions solely using the financial statements prepared using Ind AS

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Dr. Reddys Laboratories (DRL) is based in Hyderabad, India, and is one of that countrys leading pharmaceutical manufacturers, specializing in generic and biosimilar drugs. DRL

Dr. Reddys Laboratories (DRL) is based in Hyderabad, India, and is one of that countrys leading pharmaceutical manufacturers, specializing in generic and biosimilar drugs. DRL is publicly listed on the Bombay Stock Exchange and prepares its primary financial statements, included in the annual report, using Ind AS. However, American depositary shares for DRL stock also trade on the New York Stock Exchange under the ticker RDY. Therefore, in addition to its standard annual report, DRL must file a Form 20-F with the U.S. SEC annually. Note that like most Indian companies, DRLs fiscal year runs from April 1st to March 31st of the following calendar year.

Required: Access DRLs annual report and 20-F for the 201920 fiscal year on the Investor Relations section of the companys website (www.drreddys.com/investors/reports-and-filings). Answer the following questions using the companys 201920 consolidated financial statements. Be sure not to use DRLs parent-level statements, which are also included in the annual report.

The consolidated financial statements contained in DRLs annual report were prepared under Ind AS, and not IFRS. Review these to evaluate whether the financial statements presented comply with the presentation requirements in IAS 1, Presentation of Financial Statements. Document your evaluation.
Compare basic accounting figures in the Ind AS consolidated financial statements of the annual report with the consolidated financial statements of the 20-F prepared using IFRS and answer the following questions:

-Which system is more conservative in how it reckons profit and loss, operating cash flow, the value of total assets, and the value of shareholders equity? To answer this question, compare total revenue, after-tax income (profit and loss), and operating cash flow under both systems for fiscal 201920 and fiscal 201819. Compare the value of total assets and shareholders equity under both systems as of March 31, 2020 and March 31, 2019.

-Based on your analysis immediately above, do the differences seem material?

-Assume that you are an equity analyst who is very familiar with IFRS but unfamiliar with Ind AS. Based on the results of your analysis above, would you feel confident in making investment decisions solely using the financial statements prepared using Ind AS?