Annual Report 2022 23

ABBOTT INDIA LIMITED
ANNUAL REPORT 2022-23
LEADING
TO MAKE A DIFFERENCE
Contents
LEADING About Us Statutory Reports
TO MAKE A DIFFERENCE 02 Abbott India at a Glance

04 Product Profile
36 oard of Directors’ Report and
B
Management Discussion and Analysis
06 Our Investment Case 60 B
usiness Responsibility and
Sustainability Report
08 Chairman’s Message
90 Corporate Governance Report
10 Managing Director’s Message
Our purpose at Abbott is to help people live more fully through Financial Statements
Our Performance
good health. We do that through our life-changing products,
109 Independent Auditor’s Report
solutions, and technologies. We strive each day to make a 12 Key Performance Indicators
difference by creating a healthier, more resilient world and a 120 Balance Sheet
14 10 year Financial Highlights
sustainable future through all that we do. 121 Statement of Profit and Loss
16 Our Business Model
122 Statement of Cash Flows
Being at the forefront of healthcare evolution, we understand
124 Statement of Changes in Equity
that true leadership is making a difference in the lives of the Inspiring Positive Change
people we serve, and it goes beyond business success. We 125 Notes to the Financial Statements
18 Customer Centricity
leverage our industry leadership to drive meaningful change
by proactively driving a positive and lasting impact in the 20 People 177 Notice
communities we serve. 26 Community
28 Environment
Through our unwavering focus on breakthrough innovations,
we strive to redefine the boundaries of possibility and explore
Governance
new frontiers in healthcare management. We empower
healthcare professionals to deliver quality care and patients to 30 Ethics and Compliance
access quality treatment throughout their health journey. 32 Board of Directors
34 Senior Leadership Team
We care about and value our employees. Our common purpose
and mission is to provide our workforce with the opportunity
to change people’s lives for the better while living their best
lives personally and professionally. We do this by offering
development opportunities and differentiated benefits that
provide security for themselves and their families.
79
We lead with integrity and purpose to continue
strengthening our legacy. We are aware that our TH Date: August 9, 2023
Time: 9.30 a.m.
actions today will have an impact tomorrow. ANNUAL GENERAL MEETING
Therefore, we are continuously working Through Video-Conferencing (VC)/
towards shaping the future of healthcare Other Audio-Visual Means (OAVM)
that allows us to make a difference in the
lives of all our stakeholders.
FORWARD-LOOKING STATEMENT
In this Annual Report, we might have disclosed forward-looking statements that set out anticipated results based
on the management’s plans and assumptions. We cannot guarantee that these forward-looking statements will be
realized, although we believe we have been prudent in our assumptions. The achievements of results are subject
to risks, uncertainties, and inaccurate assumptions. We undertake no obligation to publicly update any forward-
looking statements, whether as a result of new information, future events or otherwise.
References to “Abbott India” or “the Company” in this Annual Report shall mean “Abbott India Limited”.
Abbott India Limited Company Overview Statutory Reports Financial Statements Notice
ABBOTT INDIA AT A GLANCE
MAKING BETTER HEALTH FY 2022-23 Highlights

POSSIBLE EVERYDAY Revenue PAT EBITDA
₹ 5,349 Crores ₹ 949 Crores ₹ 1,360 Crores
8.9%* 18.9%* 16.7%*
Return on Average Capital Earnings per Share Dividend for the year
Abbott India Limited strives to make world‑class
quality healthcare accessible to millions of
Employed ₹ 446.78 ₹ 325
Indians. We combine global expertise with
local product development knowledge to
31.6% (including special dividend of J 145)
address unmet and evolving needs of the Indian *Growth over previous year.
healthcare market. With a focus on innovation Therapeutic Areas

and quality, we are redefining the healthcare
landscape and empowering individuals to live
their best lives. Women’s Health Metabolics
Abbott India Limited, a subsidiary of Abbott

Laboratories, USA, is known for its high-quality We offer specialized, tailored solutions to address We specialize in treating chronic metabolic diseases like
trusted medicines. We specialize in various the key health concerns of women in India across life hypothyroidism, driving advancements in metabolic
therapeutic areas including Women’s Health, stages like menarche, pregnancy, and menopause. health through specialized therapies, improved
Gastroenterology, Central Nervous System, diagnostics, and meaningful scientific collaborations.
Metabolics, Multi-Specialty, and Vaccines.
Abbott’s citizenship programs and investments

are guided by two of India’s most pressing social
challenges which are lack of access to quality and
Gastroenterology Multi-Specialty
affordable healthcare and inadequate education
infrastructure and resources to prepare the
We offer a comprehensive range of innovative Our products in this portfolio help address various
workforce of tomorrow. We aim to address these
gastrointestinal products for the upper and lower health conditions like headaches, sleep disorders,
through scalable and sustainable solutions. With gastrointestinal tract and liver conditions. Along with and nutritional deficiencies. We provide specialized
a dedicated and talented workforce, we ensure products, we also offer beyond-the-pill solutions. solutions for pain management, nutritional
the availability of our medicines to all those who We also have key OTC (Over The Counter) (antacid) supplements, and vitamins in different formats.
depend on them. products in various formats (liquid, gel, powder, On
the Go pack) in this portfolio.
Central Nervous System Vaccines
We provide differentiated solutions for central Focusing on effective prevention, we offer a wide
nervous system diseases such as vertigo, epilepsy, range of trusted immunology products for Influenza,
migraine, and depression with the goal of Typhoid, Diarrhea, Japanese Encephalitis, and
minimizing their impact on life. Hepatitis A.
2 Annual Report 2022-23 3

PRODUCT PROFILE
UNBLOCKING LIMITLESS
POSSIBILITIES
Abbott India’s leading products; most of these are at the top ranks (#1 or #2) in their
Respective Participated Markets*
Key Products
• Arachitol (Vitamin D deficiency) • Cremaffin (Constipation) • Librax (Irritable bowel disease) • Digene (Antacid) • Ganaton (Gastrointestinal dysmotility) • Colospa (Irritable bowel disease)
• Cremaffin Plus (Constipation) • Zolfresh (Insomnia) • Brufen (Analgesics) • Duvadilan (Preterm labor) • Thyronorm (Hypothyroidism) • Udiliv (Cholestatic chronic liver disease)
• Pankreoflat (Indigestion) • Heptral (Liver disease) • Prothiaden (Pain & depression) • Duphalac (Constipation)
• Influvac (Prevention of influenza) • Duphaston (Miscarriage and IVF) • Creon (Pancreatic insufficiency) • Vertin (Vertigo)
New Product Launches
• Thyronorm 200 mcg (Hypothyroidism) • Linorma T3 (Hypothyroidism)

• Cremagel-L (Anal fissures) • Cetropro (IVF)
• Solfe Extra (Iron deficiency anemia) • Femoston Mini (Postmenopausal symptoms)
• Brufen P (Pain and fever) • Cortirowa OD (Ulcerative colitis)
• Digeraft Plus (Gastroesophageal reflux) • Digeraft XT (Gastroesophageal reflux)
*Source: IQVIA - MAT March 2023

OUR INVESTMENT CASE
ADDING VALUE, New Product Launches Focus on International Business
DELIVERING RETURNS We continuously identify the evolving gaps in

healthcare and accordingly, diversify into new
therapeutic areas to introduce new products that
We have established operations in these four countries: Nepal,
Sri Lanka, Maldives, and Bhutan. We are actively expanding
our business in these neighboring countries and increasing our
specifically address those unmet needs. footprint to continue to serve people who rely on our quality
products.
Empowered Field representatives

At Abbott India, we prioritize purpose, profitability, and progress equally to During FY 2022-23, we introduced 10 new We have a highly dedicated and passionate sales force who form
achieve sustained success. Our proven scientific expertise, comprehensive and products in various therapeutic areas, Women's over 80% of our total workforce. They engage with the medical
diversified solutions, and attractive value proposition for all our stakeholders Health, Gastroenterology, Metabolic, and fraternity and are committed to making a positive impact on
provide a solid foundation for market-beating growth and high-risk-adjusted Multi-Specialty. the ground. Additionally, our continuous upskilling culture and
development opportunities and effective digital tools enable
returns. and empower them for seamless and real-time engagement with
stakeholders.
Strong Partnerships
Diversified Product Portfolio High-Quality Manufacturing Robust Financials Over the years of serving patients in India, we have created a
robust network of trusted partners. Our valued partnerships
We provide a wide variety of products to meet diverse Our state-of-the-art manufacturing plant in Goa Our business model has continuously
include our distributors, institutions, and healthcare professionals.
health needs. Our comprehensive portfolio covers enables us to deliver world-class quality and demonstrated its strength by delivering robust
The recent pandemic resulted in some unprecedented ways
multiple therapeutic categories such as Women’s Health, trusted products, which act as a key differentiator growth year after year. We have delivered double-
to come together and deliver results with speed and scale. We
Gastroenterology, Neurology, Thyroid, Pain Management, and provide a competitive edge in building trust- digit EBITDA and net margins consistently, thus
continue to build our network of trusted partners to maximize our
Vitamins, and Vaccines. based relationships with doctors and patients. demonstrating our financial strength, resulting in
value offerings.
sustainable value creation for shareholders.
Widespread Robust Distribution Network

125+ 10 20.1% 8.8% We take pride in building a resilient and highly effective
Products in portfolio New products of Net Sales is Revenue from Operations distribution network. With a vast network of stockists and a
introduced in the manufactured in Goa 10-year CAGR widespread presence amongst millions of retailers, we ensure that
year across different our quality products and solutions reach our valued customers
promptly and efficiently.
therapeutic areas
15.7% This extensive distribution network connects us with our patients,
EBITDA enabling us to provide them with the care and support they need.
10-year CAGR Moreover, it acts as a strong feedback channel, allowing us to
gather useful insights from our retailers and customers regarding
16.9%
our products and solutions.
Industry-Leading Growth
We have consistently delivered above-market growth. PAT
10-year CAGR
8,100+ stockists enabling us to reach a wide
Our top 15 brands are market leaders in their respective
segments, accounting for over 80% of our revenue.
customer base.
15.0%
6* 11* Book Value per Share 3,100+ sales colleagues are making a
Brands in top 100 Brands in top 300 10-year CAGR difference by consistently engaging with the
medical fraternity.

CHAIRMAN’S MESSAGE
LED BY STRENGTH Responsible Working management of their health needs. We are committed to
upgrading 75 Primary Healthcare Centers (PHCs) to Health
AND PURPOSE The energy that helps us keep moving forward amid
challenging times is that of our employees. To continually
& Wellness Centers (HWCs) across 9 states in India.
innovate life-changing solutions, we empower our teams Shaping a Sustainable Future

with skills to meet the health needs of tomorrow. We offer
support and extensive advancement opportunities through At Abbott, our purpose is to help people live fuller lives
Dear Shareholders, comprehensive training, mentoring, and development through better health. For over 79 years, we have remained
opportunities. This is reflected in Abbott being recognized committed to providing quality healthcare in India. Our
I am happy that your Company has achieved a growth of In FY 2022-23, your Company has strengthened its amongst the 'Top 10 Best Companies To Work For in India' by response to the evolving changes in the environment truly
8.9% in revenue and 18.9% in profit over the prior year. leadership in different therapies through innovation and Business Today – one of the leading business magazines. reflects our commitment to building a sustainable future.
We have been consistently growing faster than the market differentiated marketing initiatives. Some of our products
I am also delighted to share that your Company has won On behalf of the Board Members, I thank all our partners,
and have continued to outperform the industry. Your Board are amongst the top 50 products in the industry, with many
several external recognitions for its brands, marketing especially healthcare professionals, pharmacists, vendors,
has recommended a dividend of H 325 per share, including a moving up the ranks during the year.
initiatives, and other innovations. stockists, retailers, and bankers, for their continued faith
special dividend of H 145 for FY 2022-23.
The pandemic has impacted the way the healthcare industry and relentless support. I would also like to thank all our
Our experienced leadership team has helped in delivering works and at Abbott, we have led the transformation through From market positions to financial performance to corporate employees for their commitment, dedication, and hard work.
consistent growth and enhancing shareholder value. a sustained focus on leveraging digital health solutions citizenship, we strive for leadership in all aspects of our
business. We doubled our efforts to build sustainable I am grateful to all our shareholders for their unwavering
Our extensive product portfolio and a strong foothold in and data-led insights. Your Company has also been at the
communities this year. Our partnership with the Self- trust in us, and to the esteemed Board of Directors for their
various therapeutic segments in the market and geographies forefront of driving patient support programs and has
Employed Women's Association (SEWA) has helped improve invaluable guidance.
provide us with an advantage and enable us to continue continued its focus on improving the accessibility of quality
serving the people of India. medicines across India. We have also adopted a multi- accessibility to cost-effective healthcare for underprivileged
Sincerely,
channel communication plan to provide e-learning resources communities by developing resilient processes for the
and scientific knowledge transfer. prevention, diagnosis, and treatment of Non-Communicable Munir Shaikh
Diseases (NCDs). Through health clinics, we have enhanced Chairman
Prioritizing Innovation access to healthcare and correct information about various
diseases via healthcare experts. As a science-based
Innovation continues to remain key for us. Company, we work to promote STEM (Science, Technology,
Our patient-centric approach helps us to plan and deliver Engineering, and Mathematics) learning, health education,
a unique product mix to address growing healthcare and sports among children from under-served communities.
requirements. During the year, we launched 10 new products Our partnership with AmeriCares helps in bringing people
in different therapeutic areas, with 4 of them being first-to- into the care system early for timely diagnosis and effective
market launches.
The right strategy and approach to investments in new

products, digital solutions, and care models have ensured
that we remain relevant to shape a sustainable future. Revenue Distribution
Post-pandemic, India witnessed a shift in consumer behavior
towards healthcare. This has resulted in an increase in
54.1% 55.6% Materials
digitization of processes, e-pharmacies, and an overall
nurturing of a human-centric approach to health. We foresee 11.8% 10.5% Employee Cost
new opportunities and challenges for the industry, which 1.3% 1.3% Depreciation
FY 2021-22
we are sufficiently prepared to address. At Abbott, we have 10.8% FY 2022-23 8.7% Other Expenses
continued to efficiently tap into these opportunities and new 5.7% 6.1% Tax
channels to reach our consumers more effectively.

11.9%
12.9% Proposed Dividend
The government’s Ayushman Bharat Digital Mission
4.4% 4.9% Retained Earnings and OCI
(ABDM) has the potential to revolutionize the way India
approaches healthcare and improve health outcomes. We
continue to observe this trend and its overall impact on the
future of health data and management.

MANAGING DIRECTOR’S MESSAGE
LEADING FROM FRONT The Multi-Specialty division launched differentiated public

initiatives such as ‘D Strong Active Life 2.0’, and ‘Sleep Well
business starts at the top of our organization and is integrated
across the Company. We have a global 2030 sustainability
Wake-Up Fresh’. These campaigns were supported by experts plan focused on designing access and affordability into our
who raised awareness about Vitamin D deficiency and sleep life-changing technologies and products. We continue to find
health. To further strengthen the pain portfolio, Brufen P new solutions for chronic health conditions and infectious
Dear Shareholders, (Ibuprofen + Paracetamol) was launched this year. diseases. With consistent efforts of our Environment, Health
and Safety (EHS), sustainability, commercial, HR and other
This has been another remarkable year for Abbott India. Staying True to Our Promise The vaccines category witnessed a slowdown during the year colleagues, we remain committed to our Environmental,
We emerged stronger and more relevant. I am pleased to due to low patient footfalls, but we continued our patient Social and Governance (ESG) goals.
As the Company continued to grow its footprint in
share that this year our revenue grew by 8.9%, and profits education initiatives to increase influenza awareness among
established and new therapy areas, Abbott India’s business
grew by 18.9%. This was made possible because of the children, pregnant women, and high-risk patients with co- Our customers trust our products, and it is crucial for us that
has consistently outpaced the Indian pharmaceutical
continued efforts of my colleagues, the trust of our investors, morbidities. we uphold the highest standards of quality at every stage
industry. We launched 10 new products this year and are
and support from all stakeholders. of the process. Further, we strongly believe that driving a
well-positioned to drive growth and innovation with a robust The Company continues to focus on digital health solutions, culture of zero non-compliance is critical for us and our
pipeline. I am happy to share that one of our top brands, data, and analytics to remain relevant and continuously
We remain committed to enhancing the health of the business success. We are proud to have launched an internal
Udiliv, has entered the Top 15 pharmaceutical brands in improve health outcomes. We transformed our business by
millions of people we serve, and we keep the needs of our campaign across various functions to further strengthen our
India*, while Thyronorm continues to be part of that list. implementing various digital solutions to make our offerings
patients at the forefront of all that we do. We have designed, compliance culture through tangible and concrete steps.
developed, and provided people with what truly matters - a more personalized and engage better with our doctors and
The Women’s Health portfolio, led by the globally trusted
healthier quality of life - whether it is through our medicines patients. In order to meet increased expectations in the Safeguarding the environment is another area of priority
brand Duphaston, effectively navigated evolving challenges.
or beyond-the-pill services. marketplace, we are concentrating on overall therapy growth for us. Evolving our operations to reduce our environmental
Additionally, we launched an integrated campaign, “ The
across the care continuum through awareness, diagnostics, footprint will also help us build a more resilient business
Next Chapter” to raise awareness of menopause and its
treatment, and compliance. Our broad portfolio of market- for the long term. Reduced water usage, CO2 emissions, and
symptoms through a book that highlights unique experiences
leading products aligns with the long-term healthcare trends responsible waste management are focus areas where we
and stories of women undergoing menopause.
in India. have taken the right steps to ensure a positive change. We
Our gastroenterology portfolio continued to show strong have installed solar panels at our Goa plant to harness clean
growth this year. It further strengthened its success with the People First energy, thus reducing the carbon footprint of this site. We
first-to-market launch of Cremagel-L for the management of have been able to consistently maintain zero waste to landfill,
A strong and dedicated sales force is vital for the effective
anal fissures. With Duphalac, Cremaffin Plus, and Cremaffin and this helps us achieve and promote our sustainability
execution of our strategies and our continued success. Their
as our leading brands in the laxative category, we have a goals.
health and well-being are our top priority. We have provided
38% market share and significant growth that is superior
to Respective Participated Market*. We have restructured
innovative training, coaching resources, and programs such
as the ‘Transform’ first-line manager orientation program,
Ensuring Sustainable Growth
our consumer health portfolio, enabling us to expand our the ‘BM Academy’ upskilling program for future business Working and winning together has been fundamental to our
brands, such as Digene (tablets and liquids) and Cremaffin, leaders, and ‘Nurture’ an automated coaching platform on collective success, and in the next fiscal year, we reaffirm our
through patient-focused strategies and integrated marketing our internal platform, Abbworld. dedication to delivering outstanding value to our shareholders
initiatives. and customers. We will continue to work side-by-side with the
To build on our inclusive culture, various Employee Resource people and communities we serve, partners, government, and
In our Central Nervous System division, we continued Groups (ERG) were launched within our organization. other stakeholders to address health disparities, expand access
launching differentiated initiatives and content-led We have shaped our policies and strategies to achieve our and remove barriers that prevent people from living healthy
campaigns, such as ‘Balance Awareness’ and ‘E for Epilepsy’ long-term objective of building a diverse and innovative lives wherever they are.
to raise more awareness on conditions such as vertigo and workforce of tomorrow. We give our employees the tools
epilepsy. and ecosystem they need to reach their greatest potential by With your support, we will remain steadfast in our
enabling them to take charge of their overall health and well- transformational journey toward a brighter and more successful
Similarly, in our Metabolics division, multi-channel
being. We also have an Employee Assistance Program (EAP) future. Once again, I express gratitude to our partners,
campaigns (such as LiveThyronormal) continued to be an
that offers customized counseling and resource services to customers, and shareholders for the trust they have placed in us.
important lever aiming to create awareness around thyroid
support employees and even their families.
disorders and their symptoms. Focusing on the need gap of
hypothyroidism treatment, we also launched India’s first
Liothyronine (T3) – Linorma T3 tablet.
Building a Healthier Tomorrow Sincerely,
Our business is about helping people live healthier and better. Vivek V Kamath
To do that, we strive each day to ensure we are building Managing Director
sustainable health solutions. Our commitment to sustainable

KEY PERFORMANCE INDICATORS
DEMONSTRATING PASSION
TO OUTPERFORM
RESERVES & SURPLUS CONTRIBUTION TO

REVENUE GROWTH 8.9% EBITDA MARGIN * 25.4% GROWTH 13.2% EXCHEQUER
REVENUE (J in Crores) EBITDA (J in Crores) RESERVES & SURPLUS (J in Crores) (J in Crores)
5,349 1,360 3,167 1,035

4,913 954
1,165 2,799
4,310 2,581 837 811
4,093 1,002 2,410 775
3,679
871 1,987
718
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
11.2% 11.3% 5.3% 14.0% 8.9% 19.5% 21.3% 23.3% 23.7% 25.4% 18.9% 21.3% 7.1% 8.4% 13.2%
PAT MARGIN* 17.8% RoCE# 31.6% BOOK VALUE GROWTH 13.1% SHARE PRICE (J) 22,065
PAT (J in Crores) AVERAGE CAPITAL EMPLOYED (J in Crores) BOOK VALUE PER SHARE (J) MARKET CAPITALIZATION (J in Crores)
949 3,004 1,501 46,887

2,711 1,327
799 2,517
1,225 37,617
691 2,220 1,144
32,833 31,828
593 1,850 945
450
15,503
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
12.2% 14.5% 16.0% 16.3% 17.8% 24.3% 26.7% 27.4% 29.5% 31.6% 18.6% 21.1% 7.1% 8.3% 13.1% 7,296 15,451 14,983 17,703 22,065
*% To Revenue from Operations

#
Return (PAT) on average capital employed

10 YEAR FINANCIAL HIGHLIGHTS
BUILDING ON SOLID
FOUNDATIONS
(Amounts in J Crores, unless otherwise stated)
INDIAN GAAP IND AS@

OPERATING RESULTS 2014(15M) 2015 2016 2017 2018 2019 2020 2021 2022 2023
Revenue from Operations #

2,309 2,317 2,646 2,939 3,307 3,679 4,093 4,310 4,913 5,349
Other Income 49 48 50 57 117 113 114 81 83 154
Material Cost 1,296 1,313 1,492 1,712 1,905 2,088 2,314 2,391 2,657 2,975
Employee Benefit Expense 300 305 341 345 394 436 476 493 579 564
Other Expenses 445 387 448 484 484 550 545 505 595 604
Depreciation and Amortization 22 15 14 16 16 17 60 58 66 70
Finance Cost - 1 3 2 4 2 9 18 19 16
Profit Before Tax and Exceptional Items 295 344 398 437 621 699 803 926 1,080 1,274
Exceptional Items - - - - - - - - - -
Provision for Taxation 97 115 143 160 220 249 210 235 281 325
Profit After Tax and Exceptional Items 198 229 255 277 401 450 593 691 799 949
Earnings per Share - Basic & Diluted (H) 93.39 107.75 120.12 130.19 188.81 211.93 279.04 325.04 375.86 446.78
Dividend per Share (H) 23.00 31.00 35.00 40.00 50.00 50.00 107.00 120.00 145.00 180.00
Special Dividend per Share (H) - - - - 5.00 15.00 143.00 155.00 130.00 145.00
ASSETS EMPLOYED
Fixed Assets (Net) 100 100 111 116 84 106 271 251 272 241
Other Assets (Net) 688 837 1,084 1,271 1,609 1,902 2,160 2,351 2,548 2,948
TOTAL ASSETS 788 937 1,195 1,387 1,693 2,008 2,431 2,602 2,820 3,189
FINANCED BY
Share Capital 21 21 21 21 21 21 21 21 21 21
Other Equity 767 916 1,174 1,366 1,672 1,987 2,410 2,581 2,799 3,168
TOTAL EQUITY 788 937 1,195 1,387 1,693 2,008 2,431 2,602 2,820 3,189
SHAREHOLDERS 18,270 19,407 21,250 23,004 22,583 27,559 51,442 87,794 90,567 72,086
EMPLOYEES 2,766 2,867 2,956 3,083 3,322 3,485 3,551 3,585 3,597 3,700
#
Inclusive of Excise duty on sales/ Net of GST
@
The Company transitioned into Ind AS from April 1, 2015 hence these numbers are not comparable with previous years

OUR BUSINESS MODEL
MAKING A DIFFERENCE
Aligned with our purpose, our business model is designed to create sustainable value for all our
stakeholders. At Abbott India, we optimize resource utilization, foster operational excellence, uphold
the highest standards of responsibility and accountability to achieve consistent, industry-leading
growth, and continue to make a difference.
Inputs Management Approach How We Create Value Activities Outcomes
Financial Capital ₹ 1,360 Crores ₹ 949 Crores
Purpose
Sources of funds from business Smart and efficient allocation of resources to expand • Science-based Products EBITDA Profit After Tax
operations, financing or investing business operations and achieve consistent growth To help people live
activities and operational excellence over time.
better and healthier • Strong Partnerships 31.6 %
Return on Average Capital
lives through our • High-quality Manufacturing Employed (RoCE)
Manufactured Capital differentiated products • Effective Distribution

Tangible and intangible Maximizing the efficiency and productivity and solutions.
infrastructure, offices and of manufacturing operations through process • Experienced Sales and Marketing Team 5.4% 20.1 %
manufacturing plant upgrades and responsible collaborations with local Strategic Priorities increase in liquid volume of Net Sales
is manufactured in Goa
manufacturers, resulting in cost reduction and manufacturing
adherence to high-quality standards. • Providing access and
availability of products
Human Capital
• Advance health equity i d in g a cce s s a
P rov i l i t y of p r o n d
732 ~31,300
Employees’ skills and competencies, Create an inclusive and equitable work environment b duct
i l a
knowledge and experience that attracts, motivates, and retains top talent while through partnership av a s
New joinees during Man-hours of training imparted
offering ample development opportunities to employees
• Creating STEM the year to frontline field force
to achieve outstanding results.
opportunities
y
q u it
thro ce health eship
P
Intellectual Capital
r o
18 10
te c t i n g a h e a l t h y
Environment
u gh p a r t n e r
Strong heritage brands, highly Consistently invest in new product development, • Protecting a healthy Strategic
experienced people, world-class scientific research, clinical studies, packaging Environment Priorities Medical Publications New Products Launched
8
technology, robust processes and improvements, and enhancing our human resources to
an
A dv
systems meet the changing needs of our customers and deliver
New clinical studies conducted
an enhanced customer experience.
Social & Relationship Capital C re a

ti n g S T E M
o p p o r tu n i t i e s
Relationship with all valuable Build trust with stakeholders, enhance the well-
stakeholders, community being of individuals in areas where we operate, and Key Therapeutic Areas 75 4,600 +
development and well-being foster sustainable development by offering innovative Primary Healthcare Centers children empowered through
• Women’s Health are being upgraded to Health and STEM learning across
solutions and working towards creating more resilient Wellness Centers across 9 States 14 schools in Mumbai
communities. • Gastroenterology
Stakeholder
• Central Nervous System
• Investors • Employees
Natural Capital • Metabolics
• Healthcare • Government
Natural resources impacted by the Promote the responsible and sustainable utilization • Multi-Specialty Professionals • Communities
99.3% ~2000
Company’s activities of natural resources while actively participating in Hazardous waste generated at Goa MT plastic waste disposed
efforts to combat climate change. • Vaccines • Patients • Suppliers Plant is sent for incineration with sustainably
energy recovery
External Environment
CUSTOMER CENTRICITY
LEADING WITH PURPOSE Patient Awareness Programs Digital Initiatives

Today, our customers are more informed than ever. At Abbott, we leverage cost-effective digital marketing
At Abbott India, we see this as an opportunity to learn more technologies and tools to raise therapy awareness with
about our customers and provide them with personalized healthcare professionals and consumers across various digital
solutions that can help improve overall health outcomes. channels.
At Abbott, we truly believe that healthcare Our commitment to enabling healthier lives is Delivering quality solutions across the care continuum Considering that health consumers are becoming more
goes beyond medicines to encompass the demonstrated through the diverse interventions we requires a patient-first culture. We remain committed to digitally savvy, we also leverage social listening to understand
undertook during FY 2022-23, aiming to elevate the connecting with patients and healthcare professionals to
continuum of care. In addition to delivering overall healthcare experience for the patients we serve. raise awareness and shape the future of health.
the sentiments and behavioral patterns and identify need
gaps for our stakeholders. This tool helps us discover
high-quality products that address unmet meaningful insights and help strategize differentiated digital
We launched several differentiated engagement campaigns
needs across therapeutic areas, we undertake for various therapy areas across the healthcare continuum. campaigns that drive impact and engagement.
a range of initiatives, such as patient education Some of these campaigns were recognized for their unique
We have also digitized content for our sales teams for their
and awareness programs, disease management and wide approach on external platforms. Our integrated
communication with healthcare professionals, thus ensuring
programs, health clinics, and personalized campaign approach includes digital, social media channels,
an effective and improved engagement. Digitization of
and key offline touchpoints.
patient support groups to deliver the best CLM tools has helped us improve both sales and marketing
possible health outcome. Content-led campaigns and programs were executed for effectiveness.
therapies like Epilepsy that require reaching out to a niche
audience and engaging in conversations to break the silence. Knowledge-Sharing Initiatives
Similarly, for creating awareness on Vertigo, we reached
Abbott recognizes the growing significance of evidence-
out to the patients to help them understand their balance
based medicine in enhancing patient care and empowering
fitness. We also developed tools, such as the “Sleep Score”
healthcare professionals (HCPs). We have undertaken a range
that can help patients understand their sleep patterns
of research studies, including real-world evidence-based
and increase conversations with doctors about their sleep
studies and registration studies, that have played a pivotal
health. With the rise in flu cases in India, we collaborated
role in shaping our strategies and generating high-quality
with key experts to raise awareness through an integrated
scientific evidence. These studies adhere to Good Clinical
campaign highlighting the rising cases of flu, preventive
Practice (GCP) and regulatory requirements, contributing to
measures, symptoms, and the importance of vaccination as
the optimization of healthcare.
a key preventive measure. Similarly, for the recent increase
in conversations around Vitamin D, we continued our
awareness campaigns across media. We reinforced our
commitment to #MakingIndiaThyroidAware (MITA) with
focused campaigns on improving awareness.
Health Clinics
As a leading healthcare company, we ensure that we go
6 8
Clinical studies New clinical studies
beyond offering pills for holistic disease management. We
utilize our medical expertise and resources to ensure access completed conducted
to awareness, diagnosis, and treatment across a range of
symptomatic and asymptomatic conditions in India. Through
our Fibroscan, dysmotility, and liver clinics, we offer timely
diagnosis to people.
18
Articles published in major
indexed journals

PEOPLE
LEADING TO ENABLE Driving Value For Our People

GOOD HEALTH EVERYDAY Continue to strengthen Enabling accelerated Driving a high Strengthening
our succession pipeline, growth in the performance and capabilities
by investing in organization inclusive culture
development and growth
capabilities
We strive to be both an employer of choice
and a Company that fosters shared growth.
We thus invest in the growth, well-being, and
development of our people. Our goal is to Training and Capability Building Initiatives
empower our people to help them realize their Abbott is dedicated to building a diverse workforce of
full potential, personally and professionally. the future. This is reflected through career development
programs for employees across all levels. Our training team
has been instrumental in strengthening the field force's
capabilities to effectively navigate through current and future
challenges.
To establish a strong foundation of knowledge, skills,

and engagement, we have implemented a comprehensive
induction program. In 2022, we successfully onboarded over
660 Therapy Business Managers (TBMs) through a well-
structured onboarding process.
To ensure continuous growth and development of our front-

line field force, we have established a three-tier certification
program. To date, more than 2,600 colleagues have been
certified at various levels.
Recognizing the crucial role that first-line managers play

in our organization's success, we have implemented a new
supervisor orientation program called "TRANSFORM" to
facilitate the smooth transition of newly promoted managers Throughout our training initiatives, we have
into their roles. This program was completed by 65 first-line embraced a Phygital approach, combining
managers. both face-to-face and digital methods.
Simultaneously, we have introduced the "AIL BM Academy", This approach has proven to be highly
a program designed to enhance the capabilities of our effective, enabling us to reach a broader
second‑line managers, equipping them to be future-ready. audience and make a greater impact.
660+ 2,600+
Therapy Business Managers frontline field force have completed the
(TBMs) onboarded three-tier certification program

PEOPLE
Enhancing People Skills Self-paced E-learning Diversity, Equity and Inclusion (DE&I)
At Abbott, we are committed to providing our employees All our employees have access to a wide range of learning At Abbott, we remain committed to diversity, equity and inclusion, recognizing these as essential components of
with continuous opportunities to develop their careers resources through an online portal. This allows individuals our organization.
within the Company and equipping them with the tools and to enhance their skills and knowledge at their own pace,
enabling real-time upskilling opportunities. Women Leaders of Abbott (WLA) Happy Feet - Joy of Motherhood
resources they need to thrive. With our global presence,
diverse business portfolio, and emphasis on professional WLA is a global employee resource group that connects, This program is designed to support and create a conducive
growth, our employees can explore multiple career paths Early Career Network inspires, and helps women grow within our organization. work environment for our women employees as they
within Abbott. This employee resource group aims to help our early career WLA offers various programs aimed at enhancing leadership transition into motherhood.
professionals explore and engage with the vast opportunities experiences and careers.
Our initiatives to enhance skills and capabilities encompass
and diverse talent within Abbott. Wo-Mentoring Program
various programs: Working Mothers of Abbott (WMA) A dedicated initiative for high-potential women employees,
Abbott disAbility Network
Raising Future Leaders Launched in India in 2022, WMA is an employee resource this program has successfully mentored over 200 women so
This network is dedicated to supporting individuals of all group that provides working mothers with a platform to far with 40% of participants experiencing role rotations and
These programs focus on shaping key individuals in our connect, support, share, and learn from one another as they promotions.
abilities within Abbott. We strive to empower people with
succession pipeline across all levels of the organization. navigate the challenges of balancing work and motherhood.
disabilities to achieve their full career potential by fostering
They are designed to equip participants with the skills and
understanding, awareness, advancement, and advocacy. Empower
competencies needed for their next job. ASCENT - Abbott Second Careers This initiative provides women employees with exposure
Mentoring Programs Engagement Program
Executive Coaching and Mentoring to expert workshops, curated sessions, and content aimed
This program strengthens our commitment to diversity at enhancing leadership skills such as networking, personal
At Abbott, we have implemented targeted interventions Our formal mentoring program enables employees to engage
by providing second career opportunities to veterans and branding, resilience mindset, and more.
to support the development of our senior leaders through in structured developmental partnerships. Additionally, our
culture fosters informal mentorships through regular career women returning from career breaks.
mentorship and external coaching. The success of these Avenue
programs is evaluated based on the milestones achieved and development interventions and networking opportunities,
which promote relationship-oriented growth. Unconscious Bias Training for all Managers Designed to support women during relocations due to
the participants' progress toward their development goals.
We also provide comprehensive training for all our people We offer training to increase individual awareness of personal circumstances, Avenue provides assistance and
managers to enhance their coaching and mentoring abilities. Leading with Impact - Integrated Managerial unconscious bias and its impact in the workplace. resources to ensure a smooth transition.
Capability Program
We assist managers in accelerating their development
and preparing for senior leadership roles through a Our Approach to Advance Our DE&I Efforts
comprehensive program. This includes skill-building
activities, experiential learning opportunities, and Inclusive Workplace Policies and Practices Capability and Mindset Development
knowledge sharing from current leaders.
We are dedicated to creating a more inclusive work We recognize the importance of cultivating a managerial
environment by reviewing and enhancing our policies and pipeline that embraces diverse perspectives and talent.
practices. This includes ensuring that our organizational We are committed to equipping our leaders and managers
culture fosters inclusivity and provides equal with the necessary skills and mindset to leverage diverse
opportunities for all employees. ideas and build high-performing, inclusive teams.
In 2021, we offered our "Leading with
Impact" program to all people managers in Hiring Practices Forums and Networks
the Company, and in 2022, we continued We continuously evaluate and strengthen our hiring To foster an environment of inclusivity and engagement,
practices to ensure the effective recruitment of diverse
to reinforce the learnings through talent across various functions. By monitoring our
we offer forums and networks that provide opportunities
for employees to connect with and learn from different
gamification, leadership messaging, and practices and approaches, we aim to attract and retain a communities. These initiatives contribute to the
refresher sessions. diverse workforce that is reflective of the communities we development of healthy employee networks and resource
serve. groups, enabling the sharing of experiences, perspectives,
and knowledge.

PEOPLE
Ensuring the Well-Being of Our Employees Financial Wellness

At Abbott, we prioritize the overall well-being of our people. We facilitate sessions featuring financial experts to educate
We offer comprehensive benefits and programs to support employees on financial planning, enabling employees to Awards and Recognitions
employees live their best lives, both personally and understand the concept of retirement planning, manage
professionally, throughout their careers. financial uncertainties, and effectively handle debt
BEST USE OF VIDEO IN DIGITAL MARKETING WORLD RECORD FOR LARGEST BOTTLE
management.
CAMPAIGN & BEST VIDEO CONTENT BY/FOR MADE SENTENCE (MADE WITH ~12000
Abbott's flagship India Wellness Program is designed
Social Wellness A HEALTHCARE FIRM | INDIAN BUSINESS DUPHALAC BOTTLES) | GUINNESS WORLD
around these four key pillars of employee well-being.
COUNCIL (IBC) - STREAM 2022 RECORDS
Our employees are passionate about making a difference,
E for Epilepsy Duphalac
whether it is through delivering life-changing solutions or giving
back to the communities we serve. Abbott offers opportunities
for employees to support local causes, bringing our purpose of
INDIAN PHARMA AWARDS - EXCELLENCE DIGITAL BRAND OF THE YEAR - D STRONG
helping more people achieve better health to life.
IN R&D | CPHI INDIA ACTIVE LIFE CAMPAIGN | PRONTO
Physical Emotional
Work-Life Harmony Thyronorm - Flip-top dispenser pack CONSULTING CONSUMER AWARDS
Wellness Arachitol
Wellness We offer a range of initiatives and support systems to ensure a
balanced and fulfilling life outside of work. Our programs are
designed to promote work-life harmony and prioritize good
health for employees and their families. BEST MARKETING CAMPAIGN ON RADIO FOR BEST MULTI-CHANNEL CAMPAIGN BY/FOR
MENTAL HEALTH AWARENESS | MASTERS OF A HEALTHCARE ENTERPRISE | MASTERS
Employee Assistance Program (EAP) MODERN MARKETING (MCUBE) AWARDS 2022 OF MODERN MARKETING (MCUBE)
Recognizing the vital role of employees' families in their Prothiaden AWARDS 2022
Financial Social professional journey, Abbott has implemented the Employee Arachitol
Wellness Wellness Assistance Program (EAP) to provide meaningful support
for the well-being of employees and their families. The EAP
offers customized counseling and resource services aimed at EXCELLENCE IN MARKETING – PRODUCT OF THE YEAR – HEALTHCARE |
This program has been enhanced to address the challenges enhancing employee and family well-being. It provides free NEUROPSYCHIATRY | BUSINESS MINT CHANNELIER FMCG AWARDS 2022
faced by employees in the external environment. counseling sessions, referrals to specialized services, and MARKET RESEARCH Arachitol
follow-up support. Prothiaden
Listening To Our Employees – Your Voice

Physical Wellness Counts ‘PERCEPTION THAT MATTERS’ - MARKETING BEST CROSS-CHANNEL MARKETING
To promote physical health, we provide on-site doctors, At Abbott, we value the opinions and feedback of our INITIATIVES | PRONTO CONSULTING CAMPAIGN | MASTERS OF MODERN
conduct influenza vaccination drives, and organize exercise employees. To gauge the sentiments and concerns of our CONSUMER AWARDS MARKETING (MCUBE) AWARDS 2022
challenges. In 2022, we introduced a dedicated week focused workforce, we regularly conduct the "Your Voice Counts" Thyronorm Udistrong
on building mental wellness and resilience as part of our survey. This anonymous survey is distributed to a sample
India Wellness Program. group of employees periodically, providing them with a
platform to voice their opinions and highlight areas of
BEST BRAND OF THE YEAR - ACUTE EXTRAORDINARY INTERNSHIP PROGRAM
Emotional Wellness importance or improvement. By actively seeking feedback, we
CATEGORY | AWACS IN INDIA | CHOOSEMYCOMPANY
can drive continuous improvement and address the needs of
Our ‘Mind Strong’ initiative focuses on increasing awareness Udiliv Abbott
our employees more effectively.
of the importance of mental health and providing tools to
help manage stress and sleep, among other factors that can Blood Donation Drive
impact mental well-being. In October 2022, we observed
Demonstrating our value of CARE, a blood donation camp was HR EXCELLENCE | GOLDEN PEACOCK TOP 10 BEST COMPANIES TO WORK FOR IN
"Mental Health Awareness Week" by organizing multiple
organized on July 1 in collaboration with the Indian Medical Abbott INDIA | BUSINESS TODAY
programs and sessions by experts to encourage employees to
have conversations related to mental well-being. Association (IMA) to honor Doctors Day. The head office and Abbott
Goa plant saw several employees participating in the drive
and donating blood that may potentially save many lives.

COMMUNITY
LEADING TO DELIVER Building quality Promoting STEM Ensuring Quality and

healthcare infrastructure Education and Affordable Healthcare
MEANINGFUL IMPACT and services Good Health Delivery
Partner: AmeriCares Partner: Smile Foundation Partner: SEWA
We partnered with AmeriCares to We are dedicated to empowering In collaboration with the Self-Employed
upgrade 75 Primary Healthcare children from underprivileged Women's Association (SEWA), we are
Centers (PHCs) across 9 states to communities in Mumbai by providing revolutionizing access to healthcare
We empower low-income communities through quality healthcare and STEM Health & Wellness Centers (HWCs) them with access to quality education for low-income communities. Our
education. By working with trade associations, academic institutions, healthcare to help improve access to healthcare and infrastructure. Through our program focuses on preventing,
professionals, and governments, we strive to address critical issues in healthcare for low-income communities. Our innovative STEM labs and smart diagnosing, and treating (NCDs),
and education. Together, we create lasting impact, transform lives and build a program transcends mere physical classes, we are equipping them with ensuring the well-being of thousands.
enhancements, encompassing crucial skills in Science, Technology, Through community-based clinics
stronger, more equitable society. comprehensive training for PHC staff Engineering, and Mathematics, paving and telemedicine services, we are
and Accredited Social Health Activists the way for a brighter future. Our bridging the gap between underserved
(ASHAs) and empowering communities focus on health education, including communities and vital healthcare.
with knowledge about communicable NCDs, Nutrition, Menstrual Hygiene, Operating in 35 districts across Gujarat,
and non-communicable diseases and Water, Sanitation and Hygiene Rajasthan, Uttar Pradesh, Assam,
(NCDs). (WASH), has led to comprehensive Bihar, and Jammu & Kashmir, we have
health awareness among these children, reached over 55,000 beneficiaries.
As a result of our collective efforts, we enabling them to lead healthier lives. Our comprehensive approach provides
have witnessed an increase in footfalls primary, acute, and NCD care while
at the HWCs, indicating an increased By promoting indoor and outdoor also creating employment and
uptake of screening services for various sports, we are not only enhancing their entrepreneurship opportunities for
diseases. This enables us to deliver physical well-being but also fostering SEWA members. By forging strategic
healthcare in a timely, effective, and their social and emotional development. partnerships with reliable healthcare
efficient manner. Our overarching goal Our efforts have resulted in significant providers, we ensure sustainable impact
is to deliver high-quality, cost‑effective outcomes, including improved problem- and transformative outcomes. Together,
health services and catalyze a positive solving and logical reasoning skills, with SEWA and our partners, we are
shift in the community's health- making a meaningful impact on building resilient healthcare systems,
seeking behavior through early the lives of these children and their empowering communities, and offering
diagnosis, treatment, management, and communities. hope to those in need. Our vision is
adherence. to create a future where quality and
affordable healthcare is accessible to all,
regardless of economic circumstances.
75
Primary Healthcare Centers
4,600+
children empowered through
400+
Health Master Trainers
(PHCs) are being upgraded STEM learning across trained in NCD prevention,
to Health & Wellness Centers 14 schools in Mumbai diagnosis, treatment, and
(HWCs) across 9 states adherence

ENVIRONMENT
LEADING TO SHAPE A Approach

SUSTAINABLE FUTURE We strive to optimize the use of renewable resources and reduce carbon emissions. Our initiatives encompass a
comprehensive approach to mitigate any unfavorable environmental effects. We are implementing sustainable
practices and adopting environmentally friendly processes, and are actively working towards minimizing our ecological
footprint and ensuring responsible management of resources. We have placed significant emphasis on energy and water
conservation, waste reduction, minimizing water usage, and decreasing CO2 emissions at our Goa plant and head office.
Through a series of targeted initiatives, we aim to optimize processes, improve yields, and enhance overall productivity.
These efforts result in increased efficiency and play a crucial role in preventing the release of raw materials and solvents
Environmental stewardship is a fundamental into the environment.
responsibility at Abbott. As our business
expands, we have established clear objectives to Waste Management and be highly beneficial since it is capable The rainwater harvesting project
reduce our environmental impact, aligning with Recycling of generating 314 MWh (megawatt- continues to save water by reducing the
Abbott's global sustainability goals for 2030. hour) of electricity annually, thus intake of purchased water. In FY 2022-
Keeping in mind the 3 R's of waste contributing to the overall energy 23, the effluent treatment plant was
reduction (Reduce, Reuse, Recycle), requirements of the facility. This has upgraded to the next level by installing
in 2023, 60% of non-hazardous helped us reduce our carbon emissions a primary clarifier to remove solid
waste generated on-site was sent for by 228 metric tons per year, thus particles and oil/grease. Some of the
utilization for beneficial purposes aligning with our commitment to latest technologies, such as the multidisc
without undergoing any recycling environmental sustainability. The solar screw press were introduced for sludge
process. The remaining 40% of PV panel system is designed to operate drying, which helps in removing water
non-hazardous waste was carefully efficiently for 20 years. from sludge at a much faster rate and
recycled, thus reducing the impact on consumes 75% less power.
the environment. By implementing various energy-saving
ideas, the site achieved a reduction in Improving Eco-Efficiency in the
About 99% of the hazardous waste energy consumption of 1%, which is
Manufacturing Process
generated at the site was effectively equivalent to 180 kWh (kilowatt-hour)
disposed of through co-processing per day, without any additional capital For an increased production size,
in cement factories while adhering expenditure (CAPEX) investments. we implemented Overall Equipment
to stringent regulations and Efficiency (OEE) in the granulation,
environmental standards. A small Water Conservation and compression, and packaging processes,
fraction, approximately 0.7%, was Regeneration which led to a 25% reduction in
subjected to incineration without changeover time, line clearance time,
energy recovery, while another 0.3% The Company has a state-of-the- documentation, and testing. For
was diligently recycled, focusing on art effluent treatment plant with Brufen reformulation, a more efficient
specific waste streams such as used parameters of treated effluent well method using pre-gelatinized starch
oil and e-waste. Our collective efforts within the limit set by the local State was implemented, which eliminated
resulted in the successful collection Pollution Control Board. To maximize the risks associated with hot surface/
and processing of approximately 2000 resource utilization, the rejected water material contact and the potential for
metric tons of plastic waste from from the reverse osmosis (RO) process paste containers falling from a height.
various states and union territories in is redirected for use in utilities and
India, where our operations are located. washrooms. This innovative measure As a result of these initiatives, there
results in an annual water saving of was an overall reduction in manpower
Energy Conservation and 16,425 kiloliters. hours, contributing to increased
Efficiency operational efficiency and productivity.
At our Goa plant, we took a significant

step towards embracing green energy
by installing solar PV panels. This THE GOA PLANT RETAINS ITS CERTIFICATION OF ZERO WASTE TO LANDFILL
renewable energy system has proven to

ETHICS AND COMPLIANCE
LEADING TO SET Board Composition and Diversity Board Committees
BENCHMARKS
The Board comprises nine Directors, including three The Board Committees function within defined terms
independent members, and embraces gender diversity with of reference that outline their roles, responsibilities,
one-third representation of women. This diverse composition composition, and authority scope.
ensures that the Company benefits from a variety of relevant
perspectives. Our Board members are highly skilled • Audit Committee
professionals with extensive expertise, diverse viewpoints, • Nomination and Remuneration Committee
and robust business acumen. • Stakeholders Relationship Committee
• Corporate Social Responsibility Committee
We prioritize responsible corporate governance, the highest level of compliance, • Risk Management Committee
and ethical conduct across every facet of our organization. These guiding
principles enhance our corporate value, support our Company's long-term
viability, and strengthen stakeholder trust. Geography and
Healthcare industry
cross-cultural experience
Ethics and Compliance Corporate strategy and

Governance Structure Finance and Legal Board
Abbott emphasizes ethical behavior through its Code of strategic planning
Business Conduct, which serves as a guide for employees.
Our commitment to strong corporate governance is rooted Expertise
The Code highlights the Company's principles and
in aligning with stakeholders' interests. The Board of
emphasizes the significance of each employee embracing
Directors comprehends the business dynamics, challenges, General management and
them consistently. Employees are expected to uphold the Human resources and
and opportunities, offering guidance, oversight, and strategic
highest ethical standards, monitor business actions closely,
direction to the management. They ensure that strategies and community development leadership experience
promptly report any concerns, and conduct themselves with
plans are in line with the Company's mission of improving
honesty, fairness, and integrity as outlined in the guidelines.
lives and that operations adhere to ethical standards and
Abbott is fully committed to complying with all relevant laws
organizational values.
Sales, digital marketing and
and regulations in all aspects of its operations. business development
Our Core Values

Risk Management Approach Internal Control Framework
Our identity is built upon our core values, shaping our operations and how we cater to our
stakeholders. It is crucial to align our organization with these values to effectively fulfill our mission Our Enterprise Risk Management (ERM) process specifically We have implemented a robust internal control
and attain our business objectives. addresses risks that have the potential to impact our business framework to protect the Company's assets and promote
performance. Risk management practices are integrated into operational excellence. This system operates through
business operations, focusing on aligning risk appetite and clearly documented standard operating procedures,
strategy, improving risk response, and reducing operational policies, and process guidelines. It provides a reasonable
uncertainties. Every year, we conduct a comprehensive level of assurance regarding the achievement of our
analysis of materiality to consider the expectations of all operational, compliance, and reporting objectives.
our stakeholders regarding sustainable business practices The design of this framework is well structured and
as well as the associated risks and opportunities. Our ERM regularly assessed to ensure its effectiveness and
Pioneering Achieving Caring Enduring process ensures consistent evaluation of risks by assessing appropriateness.
their likelihood, impact, and velocity, allowing us to prioritize
the most significant risks and provide appropriate attention
from our management team. We present risk dashboards and
mitigation plans to our senior leadership team while the Board
and Risk Management Committee review enterprise risks
throughout the year.

BOARD OF DIRECTORS
As on March 31, 2023
LEADING TO ENRICH Standing (Left to right) Sitting (Left to right)
THE LEGACY Vivek V Kamath Sabina Ewing

Managing Director Non-Executive Director
C M M
Kaiyomarz Marfatia Munir Shaikh

Non-Executive Director Chairman
C M C M
Ambati Venu Shalini Kamath

Non-Executive Director Independent Director
M M M M M
Anisha Motwani
Independent Director
C M M M
Sudarshan Jain
Independent Director Audit Committee
C M M Stakeholders Relationship Committee
Nomination and Remuneration Committee
Corporate Social Responsibility Committee
Rajiv Sonalker Risk Management Committee
Whole-time Director and CFO
C Chairman/Chairperson
M M
M Member
Board Composition
33% Independent Directors 33% 35-55 years 67% Male

45% Non-Executive Directors 56% 56-70 years 33% Female
22% Executive Directors 11% >70 years

SENIOR LEADERSHIP TEAM
LEADING TO SHAPE
THE FUTURE
Vivek V Kamath Rajiv Sonalker Sridhar Kadangode Sandeep Reddy Ashok Saini Kunal Chowdhury
Managing Director Whole-time Director & CFO# Director - Finance$ Commercial Director - Commercial Director - Commercial Director -
Women's Health, Metabolics GenNext, Vaccine and GI Businesses
& International Business Neurolife
Jejoe Karankumar Namita Shah Rajan Kalantre Krupa Anandpara

Director - Medical Affairs Associate Director - New Product Director - Business Human Associate Director - Secretarial
Introductions and Therapy Area Resources & Company Secretary*
Strategy
retired effective June 30, 2023

#
appointed as Chief Financial Officer effective July 1, 2023

$ *resigned effective June 30, 2023

BOARD OF DIRECTORS’ REPORT

AND MANAGEMENT DISCUSSION AND ANALYSIS
TO THE MEMBERS Requirements) Regulations, 2015, as amended from time As per IQVIA, India’s domestic pharmaceuticals market these HWCs. Further, the HWCs have also enabled
Your Directors have pleasure in presenting their Seventy- to time (“SEBI Listing Regulations”) is available on the (IPM) is estimated at ` 2,21,922 Crores in 2023 with growth of over 87 crore screenings of non-communicable diseases.
ninth Report and the Audited Financial Statements of the Company’s website at https://www.abbott.co.in/investor- 9.5% vs growth of 6.6% in 2022. Branded generics dominated More than 31 crore health accounts have been created
Company for the financial year 2022-23. relations.html. The said Policy lays down various factors the domestic prescription pharmaceutical market, accounting under the Ayushman Bharat Digital Mission, and over
which are considered by the Board while recommending the for around 80% of sales by value as per IQVIA. While there 7.5 crore health records have been linked. While coverage
FINANCIAL HIGHLIGHTS dividend for the year. are continuous efforts to raise the regulatory bar, a company’s under the scheme itself is limited to hospital inpatient
(` in Crores)
reputation and brands are still widely regarded as indicators care, it will allow a growing number of patients to gain
MATERIAL CHANGES AFFECTING THE COMPANY of quality. The market is expected to grow at a CAGR of access to healthcare, increasing rates of diagnosis and
For the year ended For the year ended
Particulars There have been no material changes and commitments 8.8% between 2022-2027 reaching ` 3,08,329 Crores by 2027, raising disease awareness. This will further benefit
March 31, 2023 March 31, 2022
affecting the financial position of the Company between the driven by economic growth, increasing penetration of health private clinics and the retail pharmacy sector.
Revenue from 5,348.73 4,913.32 end of the financial year and date of this report. There has insurance and increased private sector investment.
Operations been no change in the nature of business of the Company. • Price Controls and Regulations : As per India Brand
Other Income 154.15 83.16 Equity Foundation, the National Pharmaceutical
OPPORTUNITIES AND CHALLENGES
Total Income 5,502.88 4,996.48 MANAGEMENT DISCUSSION AND ANALYSIS Pricing Authority (NPPA) had brought as many as
Profit Before Tax 1,273.82 1,079.73 Factors which impact Industry and Company 384 formulations under price control in 2022 and has
ECONOMIC OUTLOOK include : now additionally fixed the ceiling price of 93 essential
Profit After Tax 949.41 798.70
In the last decade, India has been one of the fastest • Co-marketing Agreements : Promotional tie-ups formulations including pain killers and drugs used
Retained Earnings
and Other growing economies, and the GDP is expected to grow at between foreign companies and local partners are an to treat cancer, rheumatoid arthritis, heart disease,
Comprehensive 6.4% in 2023-24 as reported by Asian Development Bank. established feature of the market, but co-marketing deals bacterial infections, pneumonia, tuberculosis, thyroid,
Income (OCI) The acceleration in GDP growth can be attributed to for new drugs have been increasingly introduced over epilepsy and urinary tract infections. Additional
Balance brought 2,151.57 2,014.18 multiple reasons, including favorable demographics, strong the last few years. For multinationals, these agreements downward pressure could come from Trade Margin
forward investment capital flows and technological efficiency and Rationalization to more non-scheduled drugs used for
enable more widespread detailing of key brands, while
Profit After Tax 949.41 798.70 productivity gains. the long-term treatment of chronic conditions.
for local manufacturers, which have seen lesser access
OCI arising from 3.62 2.92 to new drugs, these agreements offer opportunities • OTC Drug Regulations : The OTC sector in India has
remeasurement of
INDUSTRY REVIEW
to broaden existing portfolios. Partnerships between been growing at a healthy rate driven by increased access
employee benefits As per the India Brand Equity Foundation, the Indian Indian companies and MNCs are expected to continue to to information and an evolving, and more informed
Dividend - FY 2021-22 (584.36) - pharmaceutical industry is currently ranked third in grow due to benefits provided to both parties, as well as
pharmaceutical production by volume after evolving over time consumer. The Drugs Technical Advisory Board (DTAB)
Dividend - FY 2020-21 - (584.36) the opportunity to make relevant patient impact. approved a new OTC regulation policy in January 2022
into a thriving industry growing at a CAGR of 9.43% for the
Transfer to Reserves (94.94) (79.87) to create an explicit OTC category and remove ambiguity
past nine years. Generic drugs, over-the-counter medications, • E-pharmacy and Pharmacy Chains : The retail
Balance carried 2,425.30 2,151.57 pharmacy sector is estimated to comprise of at least from the current OTC definition. Post acceptance of the
bulk drugs, vaccines, contract research and manufacturing,
forward proposed amendment to the Drugs and Cosmetics Act,
biosimilars and biologics are some of the major segments 6,00,000 licensed outlets. Most are small, independent
of the Indian pharma industry. India also has the greatest businesses, but pharmacy chains and e-pharmacies up to 100 drugs currently dispensed under a prescription
DIVIDEND can be shifted to the OTC category.
number of pharmaceutical manufacturing facilities that are are a growing force. Pharmacy chains have expanded
Your Directors have recommended a final dividend of ` 180/- in compliance with the US Food and Drug Administration aggressively with MedPlus at 3,000+ stores and Apollo at • Uniform Code of Pharmaceuticals Marketing
and special dividend of ` 145/- per share for the year ended (USFDA) and has 500 Active Pharmaceutical Ingredient (API) 4,000 stores. In 2022, the market for online pharmacies Practices (UCPMP) : UCPMP, while currently voluntary,
March 31, 2023 on 2,12,49,302 fully paid-up Equity Shares of producers that contribute to around 8% of the worldwide was worth ` 25.50 billion. It is anticipated to expand at a could become mandatory in the future. A mandatory code
` 10/- each for approval of the shareholders at the forthcoming API market. The domestic pharmaceutical industry includes compound annual growth rate (CAGR) of 22.20% from would require ethical marketing practices to be followed
Annual General Meeting. The said dividend, if declared will a network of approximately 3,000 drug companies and 2022 to 2027. This will increase access to organized by all Companies. Given that the Company has a strong
absorb a sum of ` 690.60 Crores. 10,500 manufacturing units. pharmacies across the country and consequently drive compliance process in place, it would be well positioned
In terms of the provisions of the Income-tax Act, 1961, Indian drugs are exported to more than 200 countries increased demand and healthy competition. under a strict enforcement of UCPMP.
dividends paid or distributed by the Company shall be in the world. As per the India Brand Equity Foundation, • Ayushman Bharat : The central government’s health
taxable in the hands of the shareholders. Your Company shall, India is the largest provider of generic drugs globally and is insurance scheme, Ayushman Bharat-Pradhan Mantri REVIEW OF OPERATIONS
accordingly, make the payment of the proposed dividend for known for its affordable vaccines and generic medications. Jan Arogya Yojana (AB-PMJAY), is expected to drive The Company has consistently grown above market* in the
the year ended March 31, 2023 after deduction of tax at source. Indian pharmaceutical sector supplies over 50% of global increased public health insurance coverage. In January last several years with a clear focus on providing scientific,
demand for various vaccines, 40% of generic demand in the 2023, as per Economic Survey 2022-23, the scheme trusted products, backed by expert clinical support.
DIVIDEND DISTRIBUTION POLICY US and 25% of all medicine in the UK. covered 22 crore beneficiaries with the provision of The Company’s position has been enhanced through
Dividend Distribution Policy adopted by the Company in As the world’s pharmacy, India’s pharmaceutical exports have hospital care to an annual value of 5,00,000 per family. consistent scientific engagement with doctors, increasing
terms of requirements under the Securities and Exchange increased by 138%, rising from ` 37,987.68 Crores in 2013-14 to There are over 1.54 lakh Health and Wellness Centers geographic penetration, strong customer insights, innovative
Board of India (Listing Obligations and Disclosure ` 90,324.23 Crores in 2021-22. (HWCs) across India, with over 135 crores footfall at products and a comprehensive pill plus service approach.
Source : IQVIA
*

Board of Directors’ Report and Management Discussion and Analysis (Contd.)
Financial performance (v) Debt Equity Ratio Women’s health portfolio during the year i.e., Femoston • Metabolics : The Metabolics portfolio achieved strong
Revenue from Operations : Revenue from Operations for the Mini (post-menopausal symptoms), Solfe extra tablet double-digit growth of 14.5% driven by the success of
The Debt Equity Ratio is used to evaluate a Company’s
year ended March 31, 2023, is ` 5,348.73 Crores in comparison (iron deficiency anemia) and Cetropro vial (IVF). Abbott’s flagship brand Thyronorm. Thyronorm grew
financial leverage. It is a measure of the degree to which
to ` 4,913.32 Crores last year, recording a growth of 8.9%. • Gastroenterology (GI) : The Gastroenterology portfolio faster than the represented market* and has maintained
a Company is financing its operations through debt
showed a robust growth of 10.5% and consolidated its market dominance*. The brand is driven by digital
Profit Before Tax : Profit Before Tax for the year ended versus wholly owned funds. It is calculated by dividing
its market share in the segment. GI brands continued interventions to enhance scientific engagement, therapy
March 31, 2023, is ` 1,273.82 crores, which grew by 18.0% over a Company’s total lease liabilities by its Shareholder’s
to be the key growth driver for the Company. Strong shaping initiatives in collaboration with reputed
the previous year. equity.
acceleration in 2022-23 was driven by the top brands in bodies like Association of Physicians of India, Indian
Key Financial Ratios : (vi) Operating Profit Margin (%) this segment, i.e., Udiliv (cholestatic chronic liver disease), Medical Association and the Indian Thyroid Society.
Duphalac (constipation), Cremaffin Plus (constipation) Multi-channel awareness campaigns continue to be an
Particulars 2023 2022 Change Operating Profit Margin is a profitability or performance
and Creon (pancreatic exocrine insufficiency). important lever aiming to provide credible information
Debtors Turnover (Days) 20.6 20.0 3.0% ratio used to calculate the percentage of profit a Company
Inventory Turnover (Days) 82.0 96.6 (15.1)% These brands maintained their leadership position around thyroid disorders and resulting symptoms.
produces from its operations. It is calculated by dividing
Interest Coverage Ratio* 80.7 57.5 40.3% and market dominance with increased geographic During the year, Thyronorm 200 mcg (hypothyroidism)
the Earnings Before Interest and Taxes by Revenue from
Current Ratio 2.5 3.2 (21.9%) presence, differentiated medico marketing programs and India’s first Liothyronine (T3) molecule-Linorma
Operations.
Debt Equity Ratio 0.1 0.1 - and targeted micro market interventions. Other brands T3 (hypothyroidism) were launched. Additionally,
Operating Profit Margin (%) 24.1 22.3 8.1% (vii) Net Profit Margin (%) like Ganaton (gastrointestinal dysmotility) and Librax Combinorm grew faster than the market* and continues
Net Profit Margin (%) 17.8 16.3 9.2% (irritable bowel syndrome), continued to outperform the to establish the usage of pre-probiotics in the treatment
Return on Net Worth (%) 31.6 29.5 7.3% The Net Profit Margin is equal to how much net income
market*. Our commitment to focus on new launches and of bacterial vaginosis.
or profit is generated as a percentage of revenue. It is
*Interest Coverage Ratio has increased because of accounting impact of Ind build the existing top brands yielded substantial results
calculated by dividing the profit for the year by Revenue accelerated portfolio growth. • Multi-Specialty : Under Multi-Specialty, the Company
AS 116-Leases.
from Operations. offers products for insomnia, vitamin D, pre-term labor
There is no significant change except Interest coverage ratio During the year, Cortirowa OD (ulcerative colitis), and pain management. This business has grown 4.7%
(viii) Return on Net Worth (%) Digeraft XT (gastroesophageal reflux), Digeraft Plus
(i.e., change of 25% or more as compared to the immediately in 2022-23 and is consistently growing higher than
previous financial year) in the Key Financial Ratios. Return on Net Worth is a measure of profitability of a (gastroesophageal reflux) and Cremagel-L (anal fissures)
represented market*. Zolfresh (insomnia), Arachitol
Company expressed in percentage. It is calculated by were launched. Digeraft (anti reflux antacid) continued
portfolio (vitamin D), Brufen (analgesics) and Duvadilan
Detailed explanation of Ratios : dividing profit after tax for the year by average capital to be one of our best performing new products in
(preterm labor) are the key contributors to this business.
(i) Debtors Turnover (Days) employed during the year. 2022-23. Several beyond the pills offerings have also
Differentiated public awareness initiatives helped in
been significantly scaled up with the introduction
The above ratio is used to quantify a Company’s creating awareness through experts. Scientific therapy
of newer services such as EGG (Electrogastrogram)
Business Performance initiatives in collaboration with India’s leading scientific
effectiveness in collecting its receivables or money owed for enhancing dysmotility diagnosis in India. The
by customers. The ratio shows how well a Company The Company operates in a single reportable business segment Company plans to stay invested in extending better bodies, were launched during the year. Going ahead,
uses and manages the credit it extends to customers. i.e., “Pharmaceuticals”. The Company provides products diagnosis support to patients in core therapy areas. the focus will be to establish our base brands and build
It is calculated by dividing Revenue from Operations by and solutions across various therapeutic areas such as them into mega brands for the company. We also want
Women’s Health, Gastroenterology, Central Nervous System, The Company will continue to identify need gaps in core to strengthen our new products pipeline to offer an even
average trade receivables.
Metabolics, Multi-Specialty and Vaccines. therapy areas to maintain therapy leadership, launch more comprehensive portfolio to covered specialties.
(ii) Inventory Turnover (Days) new products to augment portfolio offerings, and support
During the year, Brufen P (pain and fever) was launched
Performance for the year under review in these therapeutic consumers with comprehensive and differentiated
Inventory Turnover is the number of times a Company under this business.
areas is highlighted below : service offerings, to further accelerate mid-sized brands
sells and replaces its inventory during a period. It is
and enable disruptive growth of new product launches. • Vaccines : The key brands in the vaccines portfolio are
calculated by dividing Cost of goods sold by average • Women’s Health : This year, the Women’s Health
The focus will remain on integrating and building a Influvac (influenza), Enteroshield (typhoid), Havshield
inventory. portfolio showed degrowth of 8.4%, mainly due to
strong, sustainable and profitable hybrid promotional (hepatitis A), Rotasure (rotavirus diarrhea), and JE
(iii) Interest Coverage Ratio increased competition from generics in dydrogesterone
model for consumer facing legacy brands like Cremaffin Shield SD (Japanese encephalitis). Vaccine business grew
market. The Company continued to enhance the connect
and Digene by strengthening targeted consumerization by 5.5% during the year. We led robust medico-marketing
The Interest Coverage Ratio measures how many times a with healthcare professionals through omnichannel and ethical promotional initiatives in the laxatives and and awareness plans to improve the pediatric vaccination
Company can cover its current interest payment with its campaigns and initiatives driving advocacy, while antacids category. numbers, especially for Influenza vaccination. We also
available earnings. It is calculated by dividing Earnings strengthening Duphaston’s positioning in the
Before Interest and Taxes by finance cost. • Central Nervous System (CNS) : The largest therapy launched several mother education initiatives under
management of miscarriages and infertility.
area for the CNS business is vertigo, which grew by our Influenza flagship program and initiated several
(iv) Current Ratio Further, shaping the treatment landscape for menopause 4.1% over the previous year with Vertin delivering educational activities under our influenza flagship
The Current Ratio is a liquidity ratio that measures a in India will be another key priority area for the a market beating growth*. This has been made possible program. In partnership with US-India Strategic
Company’s ability to pay short-term obligations or those Company and we will continue to build Femoston in with the differentiated initiatives and campaigns, Partnership Forum (USISPF), Federation of Obstetric
due within one year. It is calculated by dividing the this therapeutic area over the next few years. consistent therapy shaping initiatives, and successful and Gynecological Societies of India (FOGSI), Indian
current assets by current liabilities. We launched the following new products to build on our product life cycle management. Chest Society (ICS), guidelines for adult vaccinations
Source : IQVIA
*

for critical patients were drafted and launched. • Beyond-the-pill patient support : Engaging patients conducted by the senior management to assess its efficiency. DIRECTORS
The Company is working with National Technical directly for education, counselling or compliance Also, the same is discussed with auditors on a regular basis. During the year, the Board of Directors, basis the
Advisory Group on Immunization (NTAGI) to further support is crucial today due to their increased awareness. Change in control structure is carried out to meet business recommendation of the Nomination and Remuneration
build guidelines on influenza vaccinations for adults The Company has been at the forefront of patient needs along with control effectiveness. Committee, has approved the re-appointment of Ms Shalini
in high-risk groups. There are focused efforts though support programs and has continued expansion with Kamath (DIN : 06993314), as an Independent Director of the
The Internal audit plan is finalized based on current perception
print and social media, along with campaigns on radio new programs. For example, we’ve worked around Company for a period of 5 (five) years effective October 29,
of internal control risk and compliance requirement in
and parental platforms to create awareness. ‘In-Home- menopause to help women improve their quality of life. 2022, not liable to retire by rotation. This was approved by the
consultation with the operating divisions. The Internal
Vaccination’ and the ‘Influvac microsite’ were launched Our existing programs have shown success in ensuring Shareholders through Postal Ballot on November 12, 2022.
Auditors, as a part of their audits, review the design of key
specifically for healthcare professionals for better therapy adoption and adherence and we plan to explore
processes to assess the adequacy of controls and propose Mr Rajiv Sonalker will retire as Whole-time Director effective
services and to improve vaccine compliance. We will targeted partnerships with other industry players and
remedial measures, wherever required. June 30, 2023. The Board places on record appreciation for his
continue to expand the market for both pediatric and start-ups to expand the same. contribution during his tenure.
adult populations through newer patient services and The Internal Audit Reports issued by the Internal Auditors
product launches to strengthen the portfolio. • Multi-channel doctor engagement : A key focus of The Board, upon recommendation of the Nomination and
are discussed with the Senior Management and presented to
the Company is engaging with doctors through multiple Remuneration Committee at its Meeting held on May 19,
the Audit Committee on a quarterly basis. An independent
MEDICAL RESEARCH AND KNOWLEDGE SHARING physical and digital touchpoints. This is likely to help 2023, approved the appointment of Mr Mahadeo Karnik
and empowered Audit Committee reviews the significant
INITIATIVES reach a larger base of doctors. We are also constantly (DIN : 02606595) as Additional Director on the Board of the
observations and assesses the adequacy of the actions
revamping our knowledge platforms to be able to provide Company effective July 1, 2023 subject to approval of the
Evidence-based medicine is gaining importance in proposed while monitoring their implementation.
more relevant information to doctors. Shareholders at the forthcoming Annual General Meeting.
empowering Healthcare Professionals (HCPs) to ensure The Internal Auditors conduct a quarterly follow up for
better patient care. Research studies undertaken by the • Increase portfolio depth : We continue to focus on implementation/remediation of all audit recommendations In accordance with Section 152 of the Companies Act, 2013,
Company, ranging from real-world evidence-based studies new launches to ensure presence in strategic therapeutic and the status report is presented to the Audit Committee on Mr Kaiyomarz Marfatia (DIN : 03449627) and Ms Sabina
(observational or epidemiological) to registration studies, areas and leverage loss of exclusivity of critical brands. a regular basis. Ewing (DIN : 09201770) retire by rotation at the ensuing
have been instrumental in defining and driving organizational We have built a robust plan for our new product pipeline Annual General Meeting and being eligible, offer themselves
The Company has implemented both preventive and detection
strategies and creating high-quality scientific evidence, thus across therapies. for re-appointment.
controls. Appropriate corrective actions taken to reduce the
aiding the optimization of healthcare.
risks include the following :
RISKS AND CONCERNS Declaration of Independence
During the year, the Company completed 6 clinical studies
The Indian pharmaceutical industry operates under a highly • The Abbott Code of Business Conduct requires annual The Company has received declarations from all the
and executed 8 new clinical studies and published 18 articles
in major indexed journals. All the studies were conducted in regulated environment. Tighter norms for clinical trials as certification by all employees; Independent Directors confirming that they meet with the
compliance with Good Clinical Practice (GCP) and regulatory well as for development of new drugs and treatment may • The Compliance Committee is formed with criteria of independence prescribed under sub-section (6) of
requirements. impact the industry growth, but are beneficial in the long run. representatives from all the operating groups; Section 149 of the Companies Act, 2013 (“the Act”) and the
Growing competition from generic medicines, dependence on SEBI Listing Regulations. All the Independent Directors have
• Senior Management has oversight of the compliance
OUTLOOK imports for Active Pharma Ingredients (API), supply chain registered themselves in the Independent Director’s Database
disruption due to geopolitical incidents, pose challenges programs; managed by the Indian Institute of Corporate Affairs.
The pharmaceuticals industry is expected to grow at 9.5% in
2023. This continued economic growth, along with reduced to the industry and the Company. The Company remains at • The Business Compliance Cell is assigned the
Covid-19 impact, is expected to drive the market growth of the forefront of these challenges and continue to develop responsibility of training, monitoring and ensuring Number of Board Meetings
non-Covid-19 therapies. We have also witnessed a global new products at an affordable price point to meet evolving employees’ compliance with the Company’s policies and Five Board Meetings were held during the year 2022-23
behavioral shift towards preventative care and remaining patient needs. procedures; on May 17, 2022; August 10, 2022; November 14, 2022;
healthy, which is also expected to drive market growth February 10, 2023 and March 17, 2023. The intervening gap
INTERNAL CONTROL SYSTEM AND ITS ADEQUACY • The Company has a Whistle-Blower mechanism in place;
in India. For Abbott, this market growth would present between the Meetings was within the period prescribed under
opportunities to provide relevant products and solutions to The Company has an internal control mechanism • Internal Investigation reports are presented before the the Act, Rules framed thereunder read with the Secretarial
our customers. commensurate with its size and nature of business. Audit Committee on a quarterly basis; Standards issued by the Institute of Company Secretaries of
India on Meetings of the Board of Directors.
In 2023, the Company we aim to and continue gaining share These systems provide a reasonable assurance on achievement • Business divisions have periodic meetings with the
in the Indian pharmaceutical market. Some the key drivers of its operational, compliance and reporting objectives, Director-Office of Ethics and Compliance, to monitor
Policy on Nomination and Appointment of
that will help us deliver on our ambition are : including safeguarding the Company’s assets, prevention and and discuss compliance with various business processes.
Directors/Criteria for appointment of Senior
detection of frauds, accuracy and completeness of accounting For the year ended March 31, 2023, the Management has Management and Remuneration Policy
• Therapy shaping to accelerate pillar brands :
records and ensuring compliance with corporate policies. assessed the adequacy and effectiveness of internal controls
Focused efforts are being made to accelerate growth of The Company has adopted the Policy on Nomination and
current brands and future launches with clearly defined This mechanism is sound in design and the framework is over financial reporting and basis the assessment, believes Appointment of Directors/Criteria for appointment of
strategies, developed through in-depth analysis of market continuously evaluated for effectiveness and adequacy. that the processes are working efficiently and effectively. Senior Management and Remuneration Policy as per the
trends along with our capabilities and strengths. Shaping The mechanism operates through well-documented standard The Statutory Auditors have confirmed adequacy of the provisions of Section 178(3) of the Act and the Rules framed
of key therapies is critical to drive leadership and ensure operating procedures, policies and process guidelines and internal controls over financial reporting and its operating thereunder. The said Policies are available on the Company’s
consistent market beating growth. segregation of duties. Periodic analysis and reviews are effectiveness. website at https://www.abbott.co.in/investor-relations.html.

Nomination Policy acts as a guideline for determining For Committees : Structure and composition of the AUDIT COMMITTEE d) they have prepared the Annual Accounts of the Company
qualifications, positive attributes, independence of Directors Committees, adequacy of charter and working procedure, The Audit Committee comprises of Ms Anisha Motwani on a going concern basis;
and matters related to the appointment and removal of frequency of meetings, if the Committee is functioning as (Chairperson), Mr Munir Shaikh, Mr Sudarshan Jain and e) they have laid down adequate internal financial controls
Directors and Senior Management. per the charter and if the Committee recommendations Ms Shalini Kamath. Role of the Committee is provided in the to be followed by the Company and that such internal
The Policy lays down : contribute effectively to the Board decision-making. Corporate Governance Report, forming part of this Report. financial controls are adequate and operating effectively;
The recommendations made by the Audit Committee during
i. criteria, terms and conditions with regard to identifying For Directors : skill set, knowledge, attendance, effective the year were accepted by the Board. f) they have devised proper systems to ensure compliance
suitable candidates who are qualified to become participation at Board/Committee meetings, their with the provisions of all applicable laws and that such
Directors and Senior Management; contribution at the meetings, leveraging on his/her experience VIGIL MECHANISM/WHISTLE-BLOWER POLICY systems are adequate and operating effectively.
ii. appointment mechanism for Managing Director/ to provide the necessary insights/guidance on Board The Company has in place Vigil Mechanism/Whistle-Blower
discussions and display of candor in expressing views even Policy called “Abbott India Limited–Procedure for Internal
RELATED PARTY TRANSACTIONS
Executive and Non-Executive Directors/Independent
Directors/Key Managerial Personnel and Senior when they are in divergence with the rest of the Board, etc. Investigations”. It lays down a mechanism for reporting and Policy on dealing with Related Party Transactions
Management; investigation of all unethical behavior, alleged or potential and Materiality
Review and discussions :
violations of laws, regulations or Abbott Code of Business
iii. tenure of Managing Director/Executive Directors/ The Company has in place the Policy on dealing with Related
• Results are presented in the form of anonymized reports; Conduct, policies, procedures or other standards.
Independent Directors; Party Transactions and Materiality in terms of requirements
• The Nomination and Remuneration Committee reviews A report indicating the number of cases reported, of the Act and the SEBI Listing Regulations. The said Policy
iv. their removal process and succession planning. investigations conducted including the status update is
peer and Board Reports; is available on the Company’s website at https://www.abbott.
Remuneration Policy lays down the Company’s philosophy presented before the Audit Committee, on a quarterly basis. co.in/investor-relations.html.
and criteria as well as manner of determining the • Reports are then shared with the Board for review and
The said Policy is available on the website of the As per the said Policy, all Related Parties Transactions are
remuneration of Managing Director, Executive/ discussions.
Company at https://www.abbott.co.in/investor-relations. pre-approved by the Independent Directors, Audit Committee
Non-Executive Directors, Independent Directors, Senior Feedback incorporation : html. Employees have numerous ways to voice their concerns and Board, as and when required as per the requirements
Management, Key Managerial Personnel and other employees. and are encouraged to report the same internally for resolution. under the Act and SEBI Listing Regulations. The details of
• Basis the feedback, enhancement opportunities are
The said Policy provides for adequate safeguards against actual transactions are reviewed by the Audit Committee on a
Performance Evaluation of the Board, Board identified and implemented as appropriate;
quarterly/annual basis. Material transactions, if any, with the
Committees and Directors retaliation and access to the Chairperson of the Audit
• The Chair of the Nomination and Remuneration Committee. Related Parties are pre-approved by the shareholders.
The Company has adopted the Board Evaluation Framework Committee discusses peer evaluation results with
and Policy based on recommendation of the Nomination Any concerns/grievances can be communicated through Details of Related Party Transactions
individual directors as needed.
and Remuneration Committee, which sets a mechanism various sources as provided under the said Policy or via toll
The Company enters into the business transactions with
and criteria for evaluation of the Board, Board Committees During the year 2022-23, evaluation of the Board, Committees free number 0008001001058 or online at https://speakup.
various Abbott affiliate Companies (“Related Parties”) in the
and Directors, including Independent Directors. The same and Directors was conducted as per the process described abbott.com.
normal course of business and on arm’s length basis.
is available at https://www.abbott.co.in/investor-relations. above. Also, the Independent Directors conducted separate
html. assessment of the Board, Non-Independent Directors and the DIRECTORS’ RESPONSIBILITY STATEMENT All the transactions with the Related Parties entered into
Pursuant to Section 134(5) of the Act, your Directors state during the financial year 2022-23 were pre-approved
Every year, Directors evaluate the effectiveness of the Chairman basis the feedback from the other Board Members.
that : by the Independent Directors and Audit Committee.
Board and its Committees in performing its governance and Actual Transactions are placed before the Audit Committee
oversight responsibilities. Directors assess the performance KEY MANAGERIAL PERSONNEL a) in the preparation of the Annual Accounts for the on a quarterly basis. Material Related Party Transactions
of their peers, as well as the full Board of Directors and Mr Vivek V Kamath, Managing Director, Mr Rajiv Sonalker, year ended March 31, 2023, the applicable accounting are approved by the Shareholders, as and when required.
each of the Committees on which they serve through online Chief Financial Officer and Ms Krupa Anandpara, Company standards have been followed and there are no material The details of the same are provided in Note 38 to the Financial
questionnaire. Secretary, are the Key Managerial Personnel of the Company departures from the same; Statements.
Online Evaluations solicit feedback on various parameters as on March 31, 2023. b) they have selected such accounting policies and applied Pursuant to Regulation 23(9) of the SEBI Listing Regulations,
described below : them consistently and made judgments and estimates the Company has filed half yearly reports on Related Party
Mr Rajiv Sonalker will retire as Chief Financial Officer
that are reasonable and prudent so as to give a true and Transactions with the BSE Limited.
For Board : Structure and composition of the Board, frequency of the Company effective June 30, 2023. The Board upon
fair view of the state of affairs of the Company as at
and number of meetings, devotion of time for important recommendations of the Audit and Nomination and
March 31, 2023 and of the Profits of the Company for INVESTOR EDUCATION AND PROTECTION FUND
business matters–financials, monitoring internal controls/ Remuneration Committees, approved the appointment of
that year; (IEPF)
code of conduct/insider trading policy/risk management Mr Sridhar Kadangode as Chief Financial Officer of the
framework and emerging risks/governance and compliance Company effective July 1, 2023. c) they have taken proper and sufficient care for Pursuant to the Section 124 and other applicable provisions of
issues, adequate access to information for effective decision- the maintenance of adequate accounting records the Act, read with the Investor Education and Protection Fund
making, strategic guidance to management through regular Ms Krupa Anandpara has resigned and will cease as in accordance with the provisions of the Act, for Authority (Accounting, Audit, Transfer and Refund) Rules,
interactions and cohesiveness in the overall working that Company Secretary and Compliance Officer of the Company safeguarding the assets of the Company and for 2016 (“the IEPF Rules”), all dividends which remain unpaid
facilitates open discussion. effective June 30, 2023. preventing and detecting fraud and other irregularities; or unclaimed for a period of seven years, are required to be

transferred by the Company to the IEPF, established by the • Reducing operational surprises and losses iv. Understands the significant or high risks COST AUDITORS
Government of India. Further, according to the IEPF Rules, by identifying potential events and resultant affecting Company and ensures that processes M/s Kishore Bhatia & Associates, Cost Accountants
the shares on which dividend has not been paid or claimed by responses, thus reducing surprises and associated to mitigate them are effective; (Registration No. 00294), are the Cost Auditors of the
the shareholders for seven consecutive years or more shall also costs or losses; v. Reviewing and amending Risk Management Company for the financial year 2022-23.
be transferred to the demat account of the IEPF Authority. Framework from time to time;
• Identifying and managing multiple and cross- M/s Kishore Bhatia & Associates are appointed as Cost
In accordance with the said requirements, during the year, enterprise risks; vi. Such other functions as may be delegated by Auditors of the Company for the financial year 2023-24 at
the unpaid dividend and shares were transferred to IEPF. the Board from time to time. a remuneration of ` 0.08 Crores plus taxes as applicable
• Seizing opportunities by considering a full range of
The details of the same are provided in the Corporate and reimbursement of out-of-pocket expenses. The said
potential events and thus identify and proactively • Risk Management Core Team
Governance Report. remuneration to the Cost Auditors shall be subject to
realize opportunities; The Risk Management Team oversees the process
by which business division/function management ratification by the Members at the ensuing Annual General
CORPORATE SOCIAL RESPONSIBILITY • Improving deployment of capital through robust
identifies and assesses risks and determines Meeting.
risk information to effectively assess overall capital
Corporate Social Responsibility (CSR) Policy needs and enhance capital allocation. appropriate responses. It addresses organizational
risks and sets performance measure goals and key COST AUDIT REPORT
The CSR Policy is available on the Company’s website at
These capabilities inherent in this Framework help in risk indicators for those risks. It takes care of the As per the provisions of Section 148(1) of the Companies
https://www.abbott.co.in/investor-relations.html.
achieving the performance and profitability targets and following : Act, 2013, the Company has maintained the cost records, as
prevent loss of resources. specified by the Central Government.
CSR Programs/Activities undertaken during the i. Design, develop and periodically update the
financial year 2022-23 This Risk Management Framework is directed to help Risk Management framework and procedure;
Cost Audit Report along with the Compliance Report for
The Company spent an amount of ` 19.36 Crores on various ensure effective reporting and compliance with laws and ii. Ensure appropriateness of risk culture and the financial year 2021-22, issued by M/s Kishore Bhatia &
CSR programs during the financial year 2022-23. The Annual regulations, avoid damage to the Company’s reputation understanding across the Company at all Associates, Cost Auditors, was filed with the Ministry of
Report of the CSR activities undertaken by the Company is and associated consequences. levels; Corporate Affairs on August 25, 2022 (due date of filing was
annexed as “Annexure I” and forms part of this Report. Risk Management Framework enables the Company to iii. Plan and organise risk management programs; September 8, 2022).
avoid pitfalls and surprises along the way. iv. Ensure adherence to Risk Management
RISK MANAGEMENT INTERNAL AUDITORS
2. Roles and Responsibilities policies and procedures within Abbott;
The Company has formulated a “Risk Management Policy” M/s KPMG, Chartered Accountants, (ICAI Firm Registration
which includes : • Board of Directors v. Facilitate validators in preparation and
No. BA62445) are the Internal Auditors of the Company.
execution of control validation plan;
• Risk identification framework (including Environment, The Board provides oversight about Risk Internal Audit Report, their significant observations and
vi. Conduct adequate awareness; follow up actions taken by the Management is reviewed by the
Sustainability and Governance related risks [ESG]); Management and is responsible for approving
Risk Management Framework. The Board has vii. The Core Team along with the concerned Audit Committee on a quarterly basis.
• Risk mitigation measures ;
constituted Risk Management Committee with Division/Function heads identifies risks faced/
• Business Continuity Plan (BCP). defined roles and responsibilities. perceived by the Company and mitigation SECRETARIAL AUDITOR
plans. The core team further evaluates Ms Neena Bhatia, Practising Company Secretary (Membership
The framework above covers financial, operational, HR, • Audit Committee whether the mitigation measures have helped
reputational, sectoral, cybersecurity, ESG and any other risk No. FCS 9492 and Certificate of Practice No. 2661) is the
Audit Committee conducts evaluation of Risk bringing down the scale and magnitude of risk,
determined by the Risk Management Committee (RMC). Secretarial Auditor of the Company for the financial year
Management systems and such other functions as from time to time.
2022-23.
1. Objective may be assigned by the Board from time to time.
STATUTORY AUDITORS
Risk Management Policy is directed to enable • Risk Management Committee S R B C & CO LLP, Chartered Accountants (ICAI Firm
SECRETARIAL AUDIT REPORT
Management to effectively deal with uncertainty Registration No. : 324982E/E300003), were appointed as The Secretarial Audit Report issued by Ms Neena Bhatia,
Key roles and responsibilities are outlined below :
and associated risk and opportunity, enhancing the the Statutory Auditors at the Seventy-fifth Annual General Practising Company Secretary for the financial year ended
capacity to build value. Broadly, the Policy Framework i. Monitoring and implementing Risk Meeting of the Company held on August 22, 2019, for a period March 31, 2023, does not contain any adverse remark,
encompasses : Management Plans; of five years i.e., from financial year 2019-20 to financial year qualifications, reservations or declaimer except the
2023-24, to hold office till the conclusion of the Eightieth observation that the name of the Company is appearing in the
• Aligning risk appetite and strategy considering the ii. Ensures that the adequacy of the Company’s
Annual General Meeting of the Company.
risk appetite in evaluating strategic alternatives, Risk Management Framework is being breach list displayed on the website of the BSE Limited for
setting related objectives and developing assessed and that action is taken if it is having foreign investment in excess of prescribed sectoral cap.
AUDITORS’ REPORT
mechanisms to manage related risks; inadequate; In this connection, the Company had received post-facto
The Auditors’ Report for the financial year 2022-23 does not
• Enhancing risk response decisions and select iii. Reports Risk Management activities contain any adverse remarks, qualifications or reservations approval from the Department of Pharmaceuticals permitting
among alternative risk responses-risk avoidance, and information, including top risks and or disclaimers, which require explanations/comments by the the increase in foreign shareholding in excess of 75.11% from
reduction, sharing and acceptance; mitigation, to the Audit Committee and Board; Board. October 19, 2012 to January 14, 2021, which was subject

to compounding with the Reserve Bank of India for the Training and Capability building initiatives 3. Executive Coaching and Mentoring the work environment where every employee feels welcome
contravention of applicable rules under the Foreign Exchange and able to bring their whole self to work. This means
Executive coaching and mentoring are used as
Management Act, 2000. 1. Training and Development Resources integrating diversity, equity and inclusion in all areas of
development interventions for senior leaders. They are
The Company has filed the compounding application with The Abbott Global Training Site provides variety of business and building teams reflective of the communities the
based on the needs identified for senior leaders and a
the Reserve Bank of India and taking adequate steps in this materials and resources to meet the development and Company serves.
6-12 months’ engagement with an external senior coach
regard. functional training needs of employees including role-
is established. The goals are set up and agreed to by the Some key focus areas to help bring the Diversity, Equity and
based trainings, in-person trainings, eLearning (online
The Secretarial Audit Report is annexed as “Annexure II” and coachee, coach and the manager. Success is measured by Inclusion vision at Abbott to life include :
training) and articles, accessible on real-time basis
forms part of this Report. the achievement of milestones and development goals
calendarized and localized programs are additionally • Equal Employment Opportunities : The Company’s
achieved by the coachee.
designed basis need identification. The Learning and Equal Employment Opportunity Policy reinforces the
REPORTING OF FRAUD BY AUDITORS Development team caters to customized training commitment in ensuring that workplace is free from
4. Mentoring Programs discrimination and employment is based solely on merit
During the year under review, the Statutory Auditors, Cost requests from business in parallel to the open
Auditors, Internal Auditors and Secretarial Auditor have not enrollments. E-Learning and virtual learning play Leaders like the vice presidents, general managers, during external hiring and internal job movements.
reported any instances of frauds committed in the Company an integral role in learning offerings and provides senior directors and functional leaders actively engage Opportunities are provided without discrimination
by its Officers or Employees to the Audit Committee under employees the flexibility they need. The Career Connect in mentoring talent across the organization. Mentoring on the basis of race, sex/gender, religion/caste/
Section 143(12) of the Act. Platform helps employees to engage in new experiences, develops employees to drive new, cross functional creed, social or ethnic origin, color, age, differently
discover innovative ways to connect with colleagues expertise and perspectives. Mentors are identified abled (including physical medical conditions), sexual
HUMAN RESOURCES globally and take advantage of personalized resources and a panel is created with expertise in a variety of orientation, domestic partnership status, gender
Abbott is an innovative and great place to work, that cares to create a high-impact development plan. Employees areas of development to address the needs of our talent identity or expression, marital status, ancestry, genetic
about and values its employees. The purpose and mission is also have opportunities to work on Learning Gigs-an with respect to business and professional growth. information or any other reason prohibited by laws in
to provide employees with the opportunity to change people’s innovative concept facilitating voluntary project-based The mentor-mentee pairs and groups are assigned the country.
lives for the better, while living their own best lives personally learnings with teams across any country within Abbott. based on need, expertise and personal attributes. Tools
• Capability and Mindset : Initiatives to continue
and professionally. As they drive growth for the Company, and guidelines to maximize learning are provided.
building managerial capability to leverage diverse ideas
the Company provides a supportive, inclusive culture and 2. Leadership Pipeline Building Programs
and talent and build high performing, inclusive teams
programs that help ensure their continued development and Talent Management Reviews : These programs focus 5.
Leading with Impact–Integrated Managerial
are pivotal.
encourage them to build a successful career. The Company on the development of key personnel who are part of Capability Program
offers a variety of benefits and development opportunities • Forums and Networks : Provide opportunities for
the succession pipeline at various levels. They focus on The Company helps managers accelerate their
that allow employees to build thriving workplace relationships employees to engage with and learn from different
building skills and capabilities required for the next level development and transition into senior leadership roles
and careers, along with financial security for themselves and communities creating robust, extensive employee
roles. through skill building, experiences, and learnings from
their families. networks and resource groups.
Transition Programs : These training programs are current leaders. The “Leading With Impact” program
The Company has 3,700 employees as on March 31, 2023. was offered to all people managers in the Company in All of these is reinforced by continuous communication and
very specific to the employees who are getting into their
They are the pillars of the Company’s growth and success. 2021 to help them effectively lead people and the group awareness to ensure we build sensitization and advocacy for
new roles. As an employee transitions from being an
Employee well-being is a key priority and the Company is underwent refresher programs on the same in 2022. an inclusive workplace.
individual contributor to a manager, this program
committed to protecting it. The 12-week module consisting of online learning
provides the necessary support in navigating the There are various interventions for DE&I undertaken and
The Company offers career development programs for complexity of being a manager. and simulations, on the job experiences, discussion
promoted during the year :
employees from all levels of the organization to build a with peers on the learnings, coaching from certified
The program focuses on building people manager • Women Leaders of Abbott (WLA) : WLA takes
diverse, innovative workforce of the future. This is done with global coaches and pre and post program leadership
leadership competencies and comes with three levels : a proactive role in connecting women within the
a particular focus on diversity, equity and inclusion. effectiveness surveys, outlined modules such as See,
• Individual Contributor to People Manager; Hear, Speak, Coach and Develop and is considered to organization and offers dynamic programs and
All efforts resulted in Abbott being recognized amongst the
be highly effective. Leading with Impact efforts are initiatives to enhance leadership experiences and
‘Top 10 Best Companies To Work For in India,’ by Business • Manager to Director;
sustained through various initiatives like Pop Up quiz on career development of women. It acts as a platform for
Today-one of the leading business magazines.
• Director to General Manager. Intranet portal, quarterly mailers related to employee life attracting, retaining and advancing women in the
cycle processes, leader panel sessions, etc. organization, thereby becoming an Employer of Choice
Talent Strategy Key talent programs like In-Stride and Future Leaders
for Women.
A strong talent strategy has been developed to help attract and Development Program aim at developing future
leaders and accelerate their readiness into critical roles. Diversity, Equity and Inclusion (DE&I) : • Working Mothers of Abbott (WMA) : WMA is an
retain the right talent and emerge as the employer of choice
in the Indian Healthcare Industry. The Company believes in The 12-month development journey consists of cross- Diversity is fundamental at Abbott–in people, mindsets and employee resource group launched in Abbott India in
motivating and engaging employees through shared goals, functional mentoring, classroom trainings, digital business models. It’s core to fulfilling the purpose and is 2022 to provide working mothers an avenue to connect,
capability building initiatives, career growth opportunities learning, leadership and business simulations, campus embedded in values and is driven across leadership levels. support, share and learn from each other as they
and providing an environment of transparency, accountability immersion at top class academic institutes and exposure Diversity is built into Abbott’s worldview, workplaces and strongly navigate expectations of balancing work and
and positive reinforcement. to senior leaders to review development progress. customer bases. The Company strives to create and provide motherhood.

• Happy Feet-Joy of Motherhood : Happy Feet is a • Abbott Disability Network : To be a best-in-class State of art centralized dust collection system is provided in • A new online defensive driving refresher training
program designed to support and provide a conducive network supporting people of all abilities within Abbott. the manufacturing facility which removes the dust generated module will be rolled-out to all field employee.
work environment for our women employees as they We empower people with disabilities to reach their during the process thus preventing employees from dust This module covers all the new risks that a driver faces
step into the phase of motherhood. The document is fullest career potential. We create a culture of exposure. The dust which is also explosive in nature is vented post COVID-19.
shared with women employees who are expecting and understanding, awareness, advancement and advocacy out effectively with this dust collection unit as this system by
To further enhance employee engagement on road safety
also provide details of preparing for maternity leave and for individuals with disabilities through education, design has features to protect the equipment and area around
and defensive riding, a series of initiatives like quizzes and
provide support before, during and after pregnancy. training, outreach, volunteer events and collaboration. in event of explosion. Thus, ensuing safety of personnel and
creative competitions were rolled-out with good participation
workplace in event of dust explosion.
• ASCENT-Abbott Second Careers Engagement from employees.
Prevention of Sexual Harassment (POSH) at Automatic sprinkler system is installed in raw material,
Program : This program aims to strengthen our Workplace packing material and finished goods store, thus providing Environment :
diversity commitment by providing second career
The Company has an Internal Complaints Committee (ICC) in 100% sprinkler coverage to entire warehouse which is the
opportunity to veterans and women returning from A responsibility towards the environment is part of Abbott’s
place as required under the Sexual Harassment of Women at most expensive block at site. In event of fire the sprinklers
career breaks. ASCENT aims at empowering these mandate. We continuously endeavor to minimize the use of
Workplace (Prevention, Prohibition and Redressal) Act, 2013. will automatically get activated, extinguish the fire and also
professionals with relevant opportunities and providing renewable resources and cut down on carbon emission.
to prevent the spread of fire in adjacent areas, thus providing
the required support and flexibility to ensure a seamless Appropriate training under POSH is imparted to employees protection even during non-working hour. Total 25% of sites In all our initiatives, a holistic approach is adopted and efforts
transition. regularly. This training also forms part of the new Employee built up area has coverage of automatic sprinklers system. are made to curtail adverse environmental impact, if any. The
Orientation program. Goa plant continued to implement multiple energy, water
• Unconscious Bias Training for all Managers : Building Hazardous Area Classification (HAC) study was carried out
individual awareness of unconscious bias and their During the year 2022-23, all the employees have undergone for Plants where the chemical Flash Point (FP) is less than conservation and emission reduction projects.
understanding of its impact at work. and completed the aforesaid mandatory training program. 65° C as per IS5572/2009 (Class A and B liquids). Hence all The Company has a state-of-the-art effluent treatment plant
1 complaint was received by the Company/ICC during plants/areas where any chemical stored/handled has a FP with parameters of treated effluent well within the limit set
• Wo-Mentoring Program : One of our key focus is the less than 65° C will be considered for this Hazardous Area
the year, under the aforesaid Act and the same was by the local State Pollution Control Board. The rainwater
development of our key women talent and creating Classification Study. Chemicals handled above their flash
appropriately closed. harvesting project continues to save water by reducing the
women leaders across levels. Our Wo-Mentoring point were also included, as they are considered as flammable intake of purchased water.
program provides an accelerated development experience at elevated temperatures above their flash point.
HEALTH, SAFETY AND ENVIRONMENT
through a mentoring opportunity for identified key In 2022-23 the effluent treatment plant was upgraded to next
The Company is committed to the protection of human Special focus is maintained on critical safe work initiatives
women talent over a nine-month mentoring program. level by installing primary clarifier to remove solid particles
health, safety and the environment. This commitment forms like contractor safety, hand safety, hot work and working on
The Wo-mentoring program which started in our and oil/grease. This will further improve the quality of
heights.
head office, now extends to manufacturing and sales the basis for our EHS management systems and governance. treated water.
employees. We have mentored 200 women employees so Attainment of our long-range targets to reduce worker Mass awareness programs such as celebration of National
Multidisc screw press was introduced for sludge drying
far and of these 40% have had a role rotation, promotions injuries and the environmental impacts of our business across Safety Week and Abbott EHS week were conducted to help
which is latest technology available in market. This helps in
and transfers. our value chain is a priority. Meeting our targets, along with build a sustainable EHS culture.
removing water from sludge at much faster rate and consumes
our EHS objectives, is the continuation of a long legacy of For EHS cultural enhancement, we are running Behavior
• Empower : As a part of this initiative, women employees 75% less power.
responsible business practices at Abbott that reflect our core Based Safety–BBS program which includes observation
receive exposure to best-in-class expert workshops/ values : Pioneering, Achieving, Caring and Enduring. The transparent roofing sheet over sludge drying beds will
and correction of unsafe acts. There also exists system for
curated session as well as content that includes theme prevent the ingress of rainwater during monsoon and also
reporting of unsafe conditions and near miss. Such initiatives
specific webinars, videos, articles and podcasts to Health and Safety : facilitates the sun drying of sludge. Hence efficient drying
have greatly helped improve positive EHS culture.
sharpen and enhance their leadership skills like During the year, Goa plant received the prestigious Abbott will reduce the total quantity of sludge generated which is
networking, building personal brands, resilience Global EHS Excellence award for upgrading occupational Road Safety : disposed off as hazardous waste.
mindset, etc. health and fire protection facilities at site. Various Road Safety programs were conducted for field Furthermore, gas emissions from the boiler and generator
• Avenue : Avenue is an offering designed to support Site Safety Committee is formed at the plant having employees during the year : stacks as well as the ambient air quality are monitored
women during any relocation requirement due to a representation from both supervisory and non-supervisory • 100% of the sales employees completed the online regularly and they are well within the limits set by the State
change in personal circumstances. staff. Committee meets at regular frequency to discuss and defensive riding refresher training module; Pollution Control Board. Vermi-composting unit is in place
• Early Career Network : This employee resource group resolve EHS issues. • 611 new sales employees were trained virtually on to convert canteen food waste into organic manure, which is
set up in India has been launched with the purpose to defensive riding skills and behaviors and COVID-19 used in the lawns and in the plantation inside the Goa factory
On-job, Classroom and Online EHS trainings are regularly
help our early career professionals explore the mammoth Safety guidelines and behaviors, within 60 days of premises.
arranged for employees. Training topics cover applicable EHS
organization that Abbott is, engage and network with regulations, Abbott’s EHS technical standards, firefighting, joining; Out of total non-hazardous waste generated at site, 60% of the
leaders and diverse talent across the organization. hazardous chemical and waste handling, Slip/Trip/Fall, • 639 new sales employees were provided with 2 helmets waste is used for the beneficial purpose without undergoing
The aim is to help these individuals evolve as professionals Machine Guarding, Material Handling and emergency (one for self and one for the pillion rider) as a part of the any recycling process. Remaining 40% of waste is sent for
resulting in long and meaningful careers with Abbott. preparedness. joining kit; recycling.

Out of total hazardous waste generated at site, 0.7% of the Particulars of Employees, which is available for inspection PARTICULARS OF LOANS, INVESTMENTS AND 3. The Company does not have any joint venture or
waste is incinerated without energy recovery, 0.3% is sent for by the Members up to the date of ensuing Annual General GUARANTEES subsidiaries.
recycling (used oil and e-waste). Rest 99 % of hazardous waste Meeting. Any Member interested in obtaining a copy of The Company has not granted any loan or provided any
such Statement may write to the Company Secretary at 4. There are no applications made or any proceeding
is disposed off through co-processing (in cement industries). guarantees to or invested in securities of any other body
investorrelations.india@abbott.com. corporate during the year. pending against the Company under Insolvency and
During the year, World Environment Day was celebrated as Bankruptcy Code, 2016 (31 of 2016) during the financial
EHS mass awareness program.
BUSINESS RESPONSIBILITY AND SUSTAINABILITY GENERAL year.
Goa plant is certified as Zero Waste to Landfill facility which REPORT No disclosure or reporting is required in respect of the 5. There are no instances of one-time settlement during the
means no waste is disposed off through landfill. Business Responsibility and Sustainability Report as required following items as there were no transactions relating to these financial year.
under Regulation 34 of the SEBI Listing Regulations forms items during the year under review :
Plastic Waste Management : part of this Report.
1. Issue of equity shares with differential rights as to ACKNOWLEDGEMENT
The Company is adhering to the requirements of Plastic
dividend, voting or otherwise.
Waste Management Rules as laid down by the Ministry of CORPORATE GOVERNANCE REPORT Your Board expresses gratitude towards all the employees,
Environment, Forests and Climate change. Corporate Governance Report and Certificate from the 2. Issue of shares (including sweat equity shares) to business partners, institutions, banks and the Members, for
Statutory Auditors of the Company on compliance of employees of the Company under any scheme. their continued trust and support to the Company.
As a responsible organization, we collected and reprocessed
100% of plastic packaging. We entered into agreement with the conditions of Corporate Governance pursuant to the
waste management agency for this purpose and collected and requirements of the SEBI Listing Regulations, form part of
For and on behalf of the Board
processed 2,000 MT plastic packaging waste, from the states this Report.
and union territories of India where we operate.
COMPLIANCE WITH SECRETARIAL STANDARDS Mumbai Vivek V Kamath Sudarshan Jain
CONSERVATION OF ENERGY, TECHNOLOGY The Board of Directors affirms that the Company has May 19, 2023 Managing Director Director
ABSORPTION AND FOREIGN EXCHANGE complied with the applicable Secretarial Standards issued by DIN : 06606777 DIN : 00927487
EARNINGS AND OUTGO the Institute of Company Secretaries of India (SS1 and SS2)
respectively relating to Meetings of Board, its Committees
The required information under the provisions of Section
and General Meetings.
134(3)(m) of the Act read with Rule 8 of the Companies
(Accounts) Rules, 2014 in respect of Conservation of Energy,
DISCLOSURES OF ORDERS PASSED BY
Technology Absorption, Foreign Exchange Earnings and
REGULATORS OR COURTS OR TRIBUNAL
Outgo, etc. are annexed as “Annexure III” and forms part of
this Report. No orders have been passed by any Regulator or Court or
Tribunal which can have impact on the going concern status
ANNUAL RETURN and the Company’s operations in future.
The Annual Return of the Company as on March 31, 2023 has The Company had received post-facto approval from the
been placed on the website of the Company at https://www. Department of Pharmaceuticals permitting the increase in
abbott.co.in/investor-relations.html. foreign shareholding in excess of 75.11% from October 19, 2012
to January 14, 2021, which was subject to compounding with
DISCLOSURE UNDER SECTION 197(12) OF THE the Reserve Bank of India for the contravention of applicable
COMPANIES ACT, 2013 AND OTHER DISCLOSURES rules under the Foreign Exchange Management Act, 2000.
AS PER RULE 5 OF THE COMPANIES (APPOINTMENT The Company has filed the compounding application with
AND REMUNERATION OF MANAGERIAL the Reserve Bank of India and taking adequate steps in this
PERSONNEL) RULES, 2014 regard.
Disclosures required in accordance with the provisions
of Section 197(12) of the Act, read with Rule 5(1) of the INDUSTRIAL RELATIONS
Companies (Appointment and Remuneration of Managerial The Company has overall cordial industrial relations.
Personnel) Rules, 2014 is annexed as “Annexure IV” The Company continues to receive strong support from
and forms part of this Report. However, as per the provisions distributors, suppliers, vendors, stockists and other partners.
of Sections 134 and 136 of the Companies Act, 2013, the Report
and Financial Statements are being sent to the Members and FIXED DEPOSITS
others entitled thereto, excluding the Statement containing No fixed deposits were accepted during the year.

ANNEXURE I 4. Executive Summary along with web link(s) of Impact Assessment of CSR Projects carried out in
Annual Report on CSR activities for the financial year 2022-23 pursuance of sub-rule (3) of rule 8, if applicable :
[In compliance with Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility) Rules, 2014, Following CSR projects were eligible for Impact Assessment during the year :
as amended] 1. Quality and Affordable Healthcare Delivery Program in partnership with Self-Employed Women’s Association
1. Brief outline on CSR Policy of the Company Duration : November 11, 2019 to October 31, 2020
At Abbott, we are committed to supporting the disadvantaged, marginalized and vulnerable populations and to Impact Assessment carried out by CSRBOX
developing novel solutions to societal challenges facing them that are financially and operationally sustainable and 2. Improving Access to Healthcare through Health Clinics
demonstrate scalability. We strive to improve access to quality and affordable healthcare and improve awareness, diagnosis
Duration : April 1, 2019 to March 31, 2021
and adherence. Through our CSR interventions, we continuously work towards improving health education, reaching
low-income communities in both urban-rural and rural areas. In India, we intend to go about our work in a manner that Impact Assessment carried out by Goodera
is responsible, respectful and in keeping with the rich traditions of our operations in the country and elsewhere in the Impact Assessment for the above CSR projects is available at https://www.abbott.co.in/investor-relations.html.
world. Dialogue and engagement are also vital to ensure that our CSR strategy resonates with key external and internal
stakeholders. 5. (a) Average net profit of the Company as per sub-section (5) of section 135 : ` 937.04 Crores
In accordance with the statutory requirements and keeping the Company philosophy at priority, the CSR Committee (b) Two percent of average net profit of the Company as per sub-section (5) of section 135 : ` 18.74 Crores
identified the following thrust areas in line with our CSR goals : (c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years : NA
• Improving access to quality and affordable healthcare for low-income communities; conducting wellness clinics for (d) Amount required to be set-off for the financial year, if any : NA
improving lives of the disadvantaged communities;
(e) Total CSR obligation for the financial year [(b)+(c)-(d)] : ` 18.74 Crores
• Promoting STEM learning and healthy living among young children; 6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project) : ` 18.40 Crores
• Charitable donations and educational grants for serving the deserving sections of society; (b) Amount spent in Administrative Overheads : ` 0.83 Crores
• Reaching out to the Government to advance sound public policy and expand patient access to healthcare; (c) Amount spent on Impact Assessment, if applicable : ` 0.13 Crores
• Disease awareness projects/activities that support subsidized screening and treatment; (d) Total amount spent for the financial year [(a)+(b)+(c)] : ` 19.36 Crores
• Product donations through trusted partners in the context of Abbott’s global policies and international standards; (e) CSR amount spent or unspent for the financial year :
• Extending support to various NGOs through monetary grants for education, healthcare and livelihood of Amount Unspent (in ` Crores)
underprivileged children and women; Amount transferred to any fund specified under
Total amount spent Total amount transferred to Unspent CSR Account
Schedule VII as per second proviso to sub-section
• Environmental Protection measures; for the financial year as per sub-section (6) of section 135
(5) of section 135
(in `)
• Such other projects that fall within the purview of the activities included in Schedule VII of the Act and Rules made Name of the Project Amount Date of Transfer
Name of the
Amount Date of Transfer
thereunder, as amended from time to time. Fund
` 19.36 Crores Building Access 7.35 April 26, 2023

2. Composition of the CSR Committee : to Quality and
Affordable Healthcare
Sr. Designation/ Number of Meetings of CSR Number of Meetings of CSR
No.
Name of the Director
Nature of Directorship Committee held during the year Committee attended during the year
Infrastructure
and Services with
1. Munir Shaikh Non-Executive Director 4 4 AmeriCares
(Chairman)
Quality and Affordable 1.40 April 28, 2023 NA
2. Vivek V Kamath Managing Director 4 4 Healthcare Delivery
3. Anisha Motwani Independent Director 4 4 Program in
4. Shalini Kamath Independent Director 4 4 partnership with Self-
Employed
5. Rajiv Sonalker Whole-time Director 4 4
Women’s Association
3. Web-link where Composition of CSR Committee, CSR Policy and CSR Projects approved by the Board Total 8.75
are disclosed on the website of the Company :
Composition of CSR Committee at https://www.abbott.co.in/investor-relations.html.
CSR Policy at https://www.abbott.co.in/investor-relations.html.
CSR Projects at https://www.abbott.co.in/investor-relations.html.

(f) Excess amount for set off, if any : ANNEXURE II

Secretarial Audit Report for the financial year ended March 31, 2023
Sr. No. Particulars Amount (in ` Crores)
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No 9 of the Companies (Appointment and Remuneration
1. Two percent of average net profit of the Company as per sub-section (5) of section 135 18.74 Personnel) Rules, 2014 and Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure
2. Total amount spent for the financial year 19.36 Requirements), Regulation 2015]
3. Excess amount spent for the financial year [(2)-(1)] 0.62
To, b. The Securities and Exchange Board of India
4. Surplus arising out of the CSR projects or programmes or activities of the previous - The Members, (Prohibition of Insider Trading) Regulations, 2015,
financial years, if any Abbott India Limited as amended from time to time; and
5. Amount available for set-off in succeeding financial years [(3)-(4)] 0.62
I, Neena Bhatia, Company Secretary in Practice (Membership c. The Securities and Exchange Board of India
7. Details of Unspent CSR amount for the preceding three financial years : No. : FCS 9492 and CP No. : 2661), appointed as the Secretarial (Registrars to an Issue and Share Transfer Agents)
Auditor of the Company by the Board of Directors, have Regulations, 1993 regarding the Companies Act and
(` in Crores) dealing with client.
conducted the Secretarial Audit of the compliance with
Amount Balance
Amount applicable statutory provisions and the adherence to good I have also examined compliance with the applicable clauses
transferred to amount in
Preceding Unspent CSR Unspent CSR Amount spent
Amount transferred to a Fund as remaining to corporate practices by Abbott India Limited (hereinafter of the following :
Sr. specified under Schedule VII as be spent in Deficiency,
financial Account under Account under in the financial called “the Company”). Secretarial Audit was conducted in a
No. per second proviso to sub- section succeeding if any (i) Secretarial Standards issued by The Institute of
year(s) sub-section (6) sub-section (6) year (in `)
(5) of section 135, if any financial years manner that provided me a reasonable basis for evaluating the
of section 135 of section 135 Company Secretaries of India, as amended from time to
(in `) corporate conducts/statutory compliances and expressing my
(in `) (in `) time;
opinion thereon.
Amount Date of
(ii) The Securities and Exchange Board of India (Listing
(in `) Transfer Based on my verification of the Company’s books, papers,
Obligations and Disclosure Requirements) Regulations,
1 FY 2021-22 8.86 NIL 3.56 NIL NIL 5.30 NIL minutes book, forms and returns filed and other records
2015, as amended from time to time.
2 FY 2020-21 NA NA NA NA NA NA NA maintained by the Company and also information provided
by the Company, its officers, agents and authorized To best of my understanding, I am of the view that during
3 FY 2019-20 NA NA NA NA NA NA NA the period under review, the Company has complied with
representatives during the conduct of Secretarial Audit,
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the I, hereby report that in my opinion, the Company has the provisions of the Act, Rules, Regulations and Guidelines,
financial year : No during the audit period covering the financial year ended on Standards, etc mentioned above subject to the following
March 31, 2023 complied with the statutory provisions listed observation :
9. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per section 135(5) : NA
hereunder and also that the Company has proper Board i. The name of the Company continues to appear in the
processes and compliance mechanism in place to the extent, breach list displayed on the website of the Depositories
Munir Shaikh Vivek V Kamath in the manner and subject to the reporting made hereinafter : and BSE Limited for having foreign investments in
Mumbai Chairman, CSR Committee Member, CSR Committee I have examined the books, papers, minutes book, forms and excess of sectoral cap. In this connection, the Company
May 19, 2023 DIN : 00096273 DIN : 06606777 returns filed and other records maintained by the Company had received post-facto approval from the Department
of Pharmaceuticals permitting the increase in foreign
for the financial year ended on March 31, 2023 according to
shareholding in excess of 75.11% from October 19, 2012
the provisions of :
to January 14, 2021, which was subject to compounding
1. The Companies Act, 2013, amendments thereto and with the Reserve Bank of India for the contravention
Rules made thereunder; of applicable rules under the Foreign Exchange
Management Act, 2000. The Company has filed the
2. The Securities Contracts (Regulation) Act, 1956 and
compounding application with the Reserve Bank of
Rules made thereunder;
India and taking adequate steps in this regard.
3. The Depositories Act, 1996 and Regulations and Bye- I further report that :
laws framed thereunder;
Having regard to the compliance system prevailing in the
4. Foreign Exchange Management Act, 1999 and Rules and Company and on examination of the relevant documents
Regulations made thereunder to the extent of Foreign and records in pursuance thereof, on test-check basis, the
Direct Investment, as amended from time to time; Company has complied with the following laws applicable
5. The following Regulations and Guidelines prescribed specifically to the Company :
under the Securities and Exchange Board of India Act, a. Drugs and Cosmetics Act, 1940 and Drugs and
1992 (“SEBI Act”) viz. : Cosmetics Rules, 1945, as amended from time to time;
a. The Securities and Exchange Board of India b. Drugs and Magic Remedies (Objectionable
(Substantial Acquisition of Shares and Takeover) Advertisement) Act, 1954, as amended from time to time;
Regulations, 2011, as amended from time to time; and

c. Drugs (Price Control) Order, 2013, as amended from time I further report that : ANNEXURE III
to time. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo
There are adequate systems and processes in the Company
I further report that : commensurate with the size and operations of the Company [In compliance with the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies
The Board of Directors of the Company is duly constituted to monitor and ensure compliance with applicable laws, rules, (Accounts) Rules, 2014]
with proper balance of Executive Directors, Non-Executive regulations and guidelines.
Directors and Independent Directors. A. Conservation of Energy iii. The steps taken by the Company for utilizing
During the audit period there was no other events/actions alternate sources of energy – Harnessed solar
Adequate notice is given to all Directors to schedule the Board Following energy and water conservation measures were
having major bearing on the Company’s affairs. power by installing Solar Photovoltaic (PV) cells.
Meetings, agenda and detailed notes on agenda were sent at undertaken during the year :
least seven days in advance and a system exists for seeking and This report is to be read with my letter of even date which is i. Energy conservation measures : iv. The Capital Investment on Energy Conservation
obtaining further information and clarifications on the agenda annexed as Annexure A and forms integral part of this report. Equipment – ` 1.5 Crores for installing solar
items before the meeting and for meaningful participation at • Installation of solar PV panel to harness green
Photovoltaic (PV) panels.
the meeting. Place : Mumbai Neena Bhatia energy. Following were the benefits derived
Date : May 19, 2023 Practicing Company Secretary from the project : B. Technology Absorption
Decision is carried through Majority while the dissenting
member’s views, if any are captured and recorded as part of UDIN : F009492E000334047 Membership No. : FCS 9492 • System is capable to generate approx. i. Efforts made towards Technology Absorption
the minutes. Peer reviewed No : 1012/2020 Certificate of Practice No. : 2661 314 MWH/annum; and the benefits derived like product
• Carbon emission is reduced to approx. improvement, cost reduction, product
228 MT/annum; development or import substitution :
Annexure A to the Secretarial Audit Report of Abbott India Limited for the financial year ended March 31, 2023 • Guaranteed generation for 20 years. Following pioneering and innovative changes were
To, • Project was undertaken at the Goa plant initiated during the year in solid manufacturing
The Members for reducing energy consumption under A3 process :
Abbott India Limited Program. Brainstorming was done for a week • Increase in Digene batch size due to Overall
1. Maintenance of secretarial records is the responsibility of the management of the Company. My responsibility is to and implemented these ideas generated to
Equipment Effectiveness (OEE) improvement
express an opinion on the secretarial records based on my audit. I have taken declaration from the management regarding reduce daily energy consumption by 1% i.e.,
by in granulation, compression and packaging.
the said compliances. 180 KWH/day without CAPEX investments.
This resulted in reduction in changeover time,
2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness ii. Water conservation measures : line clearance time, documentation and testing
of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are reflected Reduction in tanker water consumption : by 25%.
in secretarial records. I believe that the processes and practices I followed, provide a reasonable basis for my opinion.
• The site is supported by three sources of • Implemented a method of reformulating
3. I have not verified the correctness and appropriateness of financial records and books of accounts of the Company. Brufen using pre-gelatinized starch. The
water i.e., tanker, raw water and treated
4. Wherever required, I have obtained the Management Representation about the compliance of laws, rules and regulations wastewater. The tanker water is used only process of preparing starch paste and adding
and happening of events etc. for de-mineralized plant/purified water into the granulation process was eliminated.
system water generation. Raw water and The pre gelatinized starch in powder form was
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility
treated wastewater are used for all other directly added in rapid mixer granulator during
of Management. My examination was limited to the verification of procedures on test basis.
purposes in the plant. Earlier, there was more granulation. This resulted in eliminating the
6. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or dependence on the expensive tanker water, risk of contact to hot surface/material and fall
effectiveness with which the Management has conducted the affairs of the Company. which has now reduced by approximately two of paste container from height.
tankers everyday leading to a cost saving of
The above initiatives led to overall reduction in
` 0.04 Crores/annum.
Place : Mumbai Neena Bhatia manpower.
Date : May 19, 2023 Practicing Company Secretary • The reject water from the Reverse Osmosis
ii. Details of Technology imported during last
UDIN : F009492E000334047 Membership No. : FCS 9492 (RO) is utilized back in utilities and washroom.
Peer reviewed No : 1012/2020 Certificate of Practice No. : 2661 three financial years
With this 16,425 KL of water will be saved
annually. • The details of technology imported : NIL

• The year of import : NA C. Foreign Exchange Earnings and Outgo ANNEXURE IV

Disclosure under Section 197 (12) of the Companies Act, 2013 and other disclosures as per Rule 5 of the Companies
• Whether the technology been fully Particulars ` in Crores
(Appointment and Remuneration of Key Managerial Personnel) Rules, 2014, as amended from time to time
absorbed : NA A. Total Foreign Exchange used
a. On import of raw materials, 576.48 i. (a) The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary of
• If not fully adsorbed, areas where adsorption
finished goods, consumable the Company and (b) ratio of the remuneration of each director to the median remuneration of the employees of
has not taken place and the reasons thereof : NA
stores and capital goods the Company for the financial year 2022-23 :
iii. Expenditure on Research and Development b. On professional charges, 5.27 (b) Ratio of remuneration of each Director/
sales promotion expenses, Name of the Director/KMP (a) % Increase in the remuneration
to median remuneration of employees
Particulars ` in Crores
commission on export
Capital 0.09 Munir Shaikh* - 3.2
sales, registration fees,
(Non-Executive Director)
Recurring 0.79 business travel, software,
etc. Sudarshan Jain* - 2.9
Total 0.88 (Independent Director)
Total 581.75
Total R&D expenditure as a 0.02% Anisha Motwani* - 3.1
B. Total Foreign Exchange
Percentage of total turnover (Independent Director)
earned
a. Exports of goods 22.12 Shalini Kamath* - 3.1
b. Service income 8.48 (Independent Director)
c. Recovery of expenses 0.38 Kaiyomarz Marfatia* - 2.3
Total 30.98 (Non-Executive Director)
Vivek V Kamath NA 6 7.2
(Managing Director)
For and on behalf of the Board Rajiv Sonalker# (5.9%) 38.5
(CFO and Whole-time Director)
Krupa Anandpara$ 7.9% NA
Vivek V Kamath Sudarshan Jain (Company Secretary)
Mumbai Managing Director Director
May 19, 2023 DIN : 06606777 DIN : 00927487 *Entitled for Sitting fees of ` 1 Lakh for attending each Board, Audit Committee and Independent Directors Meetings and ` 0.5 Lakh for attending
each other Committee Meetings. The Non-Executive Directors (other than directors who are in employment with Abbott group of companies) are
entitled for Commission @ ` 15 Lakhs per annum and additional ` 5 Lakhs for Board Chairman from the financial year 2022-23 onwards.
#
will retire as CFO and Whole-time Director effective June 30, 2023.
will cease as Company Secretary and Compliance Officer effective June 30, 2023.
$
ii. The percentage increase in the median remuneration of employees in the financial year :
(4.90%)
iii. Number of permanent employees on the rolls of the Company :
3,700
iv. Average percentile increase made in the salaries of employees other than managerial personnel in the last
financial year and its comparison with the percentile increase in the managerial remuneration and
justification thereof :
(2.10%)
v. It is affirmed that the remuneration paid to Directors, Key Managerial Personnel and other Employees is as per
the Remuneration Policy of the Company.
For and on behalf of the Board
Vivek V Kamath Sudarshan Jain

Mumbai Managing Director Director
May 19, 2023 DIN : 06606777 DIN : 00927487

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT
SECTION A : GENERAL DISCLOSURES c. A brief on type of customers

I. Details of the Company Customers are the key stakeholders for the Company. Our customers include distributors, stockists, healthcare
professionals, hospitals, government institutions and online pharmacies.
1. Corporate Identity Number (CIN) of the Company L24239MH1944PLC007330
2. Name of the Company Abbott India Limited IV. Employees
3. Year of incorporation 1944
4. Registered office address 3, Corporate Park, Sion-Trombay Road, Mumbai-400 071 18. Details as at the end of financial year : 2022-23
5. Corporate office address 15-16th Floor, Godrej BKC, Bandra-Kurla Complex,
Bandra (East), Mumbai-400 051 a. Employees and Workers (including differently abled) :
6. E-mail investorrelations.india@abbott.com Sr. Total Male Female
Particulars
7. Telephone +91 022 5046 1000/2000 No. (A) No. (B) % (B/A) No. (C) % (C/A)
8. Website www.abbott.co.in Employees
9. Financial year for which reporting is being done April 1, 2022 to March 31, 2023 1. Permanent (D) 3,472 3,140 90.4% 332 9.6%
10. Name of the Stock Exchange(s) where shares are listed BSE Limited 2. Other than Permanent (E) - - - - -
11. Paid-up Capital ` 21,24,93,020/- 3. Total Employees (D + E) 3,472 3,140 90.4% 332 9.6%
12. Name and contact details (telephone, e-mail address) Name : Vivek V Kamath Workers
of the person who may be contacted in case of Designation : Managing Director 4. Permanent (F) 228 211 92.5% 17 7.5%
any queries on the Business Responsibility and Telephone No. : +91 022 5046 1000/2000 5. Other than Permanent (G) 149 118 79.2% 31 20.8%
Sustainability Report E-mail ID : investorrelations.india@abbott.com 6. Total Workers (F+G) 377 329 87.3% 48 12.7%
13. Reporting boundary Standalone basis
b. Differently abled Employees and Workers :
II. List of Products/Services The Company does not seek or track this data.
14. Details of business activities (accounting for 90% of the Turnover) :
19. Participation/Inclusion/Representation of Women :
Sr.
Description of Main Activity Description of Business Activity % of Turnover of the Company No. and percentage of Females
No. Total (A)
No. (B) % (B/A)
1. Pharmaceuticals Manufacturing, marketing, sale and 100%
Board of Directors 9 3 33.3%
distribution of Pharmaceuticals
Key Management Personnel 3 1 33.3%
15. Products/Services sold by the Company (accounting for 90% of the Company’s Turnover) :
20. Turnover rate for Permanent Employees and Workers :
Sr.
Product/Service NIC Code % of total Turnover Contributed FY 2022-2023 FY 2021-2022 FY 2020-2021
No.
Male Female Total Male Female Total Male Female Total
1. Pharmaceuticals 21002 100%
Permanent Employees 16.8% 22.3% 17.3% 9.7% 17.9% 10.5% 4.8% 10.1% 5.2%
Permanent Workers 0.5% - 0.4% 0.5% - 0.4% - - -
III. Operations
16. Number of locations where plants and/or operations/offices of the Company are situated : V. Holding, Subsidiary and Associate Companies (including joint ventures)
Location Number of Plants Number of Offices Total 21. (a) Names of Holding/Subsidiary/Associate Companies/Joint Ventures :
National 1 7 8 Does the Company indicated at
Indicate whether % of shares
International NA 1 1 Sr. Name of the holding/subsidiary/associate Column A, participate in the
holding/subsidiary/ held by the
No. companies/joint ventures (A) Business Responsibility initiatives
associate/joint venture Company
of the Company (Yes/No)
17. Markets served by the Company : 1. Abbott Capital India Limited, UK Holding 50.45% No
a. Number of locations
VI. CSR Details
Locations Number
22. (i) Whether CSR is applicable as per section 135 of Companies Act, 2013 : Yes
National (No. of States) 28 States, 8 Union territories
(ii) Turnover (in `) : ` 5,284.86 Crores
International (No. of Countries) 4
Sri Lanka, Nepal, Maldives and Bhutan (iii) Net worth (in `) : ` 3,188.54 Crores
b. What is the contribution of exports as a percentage of the total turnover of the Company?
1.3%

Business Responsibility and Sustainability Report (Contd.)
VII. Transparency and Disclosures Compliances Sr. Material issue Risk or Rationale for identifying the Risk/ In case of risk, approach to adapt or Financial
No. identified Opportunity Opportunity mitigate Implications
23. C
omplaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines For example, excessive bleeding
on Responsible Business Conduct : after childbirth accounts for
FY 2022-23 FY 2021-22 nearly 20% of maternal deaths
Grievance Redressal Number of Number of in India. The existing treatment
Mechanism in Place Number of
Stakeholder group Number of complaints
complaints
complaints of choice needed to be kept in
(Yes/No) (If yes, then complaints pending pending
from whom complaint
provide web-link for Remark filed Remark cold storage, which can prove
is received filed during resolution at resolution at
grievance redress policy) the year close of the
during the
close of the difficult in rural areas in India.
year
year year To address this challenge, in
Communities Yes - - - - - - 2020 Abbott partnered with
Shareholders Yes 18 - - 17 - - Ferring to release a novel, room
The Investor Grievance temperature stable, single-dose
Redressal Mechanism formulation of the medicine of
is available on the choice for excessive post-birth
website of the bleeding, carbetocin.
Company at https:// 2. Water and Risk Abbott is committed to We perform an annual mapping Negative
www.abbott.co.in/ Wastewater responsible water use in the process to understand where
investor-relations.html Management communities where we operate. the water we use comes from,
Employees and Yes 38 4 - 29 6 - We work to minimize the impact how it is treated and discharged
Workers The same is available we have on the quality and and the impacts our operations
on Company’s intranet quantity of local water sources at have on local basins. We reduce
portal. our plant and offices. We aim to withdrawals by recycling and
Customers Yes 446* - - 570* - - establish initiatives that address reusing water and we have
Value Chain Yes - - - - - - the most pressing local needs developed a comprehensive
Partners whether that’s quality, quantity approach to water management.
or other concerns for those who For example, our Goa plant
*Complaints/Correspondence from patients received through website, e-mail and healthcare professionals etc., are also included. rely on this precious natural treats its wastewater and
24. Overview of the Company’s material responsible business conduct issues : resource. reuses it for our own gardening
purpose.
Sr. Material issue Risk or Rationale for identifying the Risk/ In case of risk, approach to adapt or Financial
No. identified Opportunity Opportunity mitigate Implications Our process centers around
four principles :
1. Innovating Opportunity Build an innovative portfolio to We continue our focus on Positive
for access address unmet health needs at an building comprehensive • Reduce : Work to improve
and accessible price point, to reach product portfolios through water use efficiency in our
affordability more people across geographies. lifecycle management of operations;
current brands to address the •
Prevent : Manage water
health needs of more people. discharges that could
We are looking to expand adversely impact human
into allied therapy areas and health or the environment;
entering various new therapies
in the segments where we are •
Educate : Emphasize on
currently present. educating our employees
and suppliers the
We strive to be among the first importance of protecting
to launch new off-patent and groundwater and
differentiated medicines as other water resources
well as continuing to expand vulnerable to overuse or
a pipeline of products in key contamination and the
therapeutic areas. role they play in doing so;
•
Engage : Develop
and apply key water
management principles
and best practices across
our Company.

Sr. Material issue Risk or Rationale for identifying the Risk/ In case of risk, approach to adapt or Financial Sr. Material issue Risk or Rationale for identifying the Risk/ In case of risk, approach to adapt or Financial
No. identified Opportunity Opportunity mitigate Implications No. identified Opportunity Opportunity mitigate Implications
3. Packaging Opportunity We recognize the impact our Our waste management strategy Positive We carry out air emission
and Waste packaging can have on the commits us to finding ethical, monitoring and ambient
Management environment and we work economical and efficient ways to air monitoring through
to reduce the impact of our reduce the volume and potential Government approved third
products and services, including hazardous characteristics of our parties.
the waste they produce waste and helps ensure proper
We have switched over from
throughout their lifecycle. disposal practices.
diesel to diesel + natural gas
Responsibly handling the waste It also goes further, with a (dual fuel) as cleaner fuel.
we create is a central tenet commitment to maximize 5. Product Opportunity People depend on Abbott We have quality processes in Positive
of Abbott’s commitment to recovery of resources and Quality products to get and stay healthy; place for our products and
extended the waste management improve operating efficiency we must build and retain their services and we are committed
responsibility. while reducing environmental trust, so delivering high quality, to continually assessing and
risks and impacts. safe products is our number one improving those processes as
Our aim is to design to priority. information, technologies and
reduce waste and minimize practices evolve. We also work
consumption of raw materials. with our suppliers to promote
We are working to extract the same commitment to quality
additional value from waste and safety, through qualification
materials through processes programs, audits and other
such as incineration for energy, tools.
recycling and beneficial use. Abbott’s Quality Management
We maintain a comprehensive System (QMS) model and
approach to managing and metrics are reviewed to track
reducing our waste footprint. At site, business and company-
the same time, those responsible level performance. We analyze
for working with waste in root causes for performance
manufacturing are trained in indicators and take appropriate
handling materials safely and corrective actions, as and when
mitigating negative impacts. needed.
6. Talent-Build Opportunity Our ability to build a healthy, Our talent management Positive
Our plant is certified as Zero
the diverse, sustainable future, depends on approach focuses on attracting,
Waste to Landfill (ZWL)
innovative the innovative ideas, execution retaining, engaging and
facility which means no
workforce of and dedication of a diverse developing a diverse workforce
waste is disposed off through
tomorrow workforce. In return, Abbott ready for tomorrow’s challenges.
landfill. Mumbai BKC office
provides an environment that When you join Abbott, you
was certified under non-
helps all employees learn and are part of a community of
manufacturing ZWL Program
grow in careers that matter, employees doing purposeful
in 2022.
where they can bring their best work in an environment where
4. Energy and Opportunity Reducing climate impact is We maintain a comprehensive Positive selves to work each day. everyone can bring their true
Emissions important for a healthy planet. program for recording and self to work every day.
Management We are working to deliver results reducing energy and air
7. Advance Opportunity In India, we are working towards In partnership with Self- Positive
against near-term science- emissions.
health equity advancing access to quality and Employed Women’s Association
based targets to reduce carbon
These programs focus on energy through affordable healthcare through and AmeriCares, we are building
emissions.
efficiency in manufacturing partnership. operationally and financially physical and tech-enabled
Our operational activities operations, low-carbon energy sustainable models of care. healthcare infrastructure to
produce Scope 1 (direct) and investments, transportation Towards our goal of helping serve low-income communities,
2 (indirect) emissions. Abbott fleet efficiency and supply chain people live healthier and fuller improving community
India is also supporting the carbon footprint. lives, we strive to find measurable awareness of infectious and
science-based environmental ways to improve access and non-communicable diseases
targets set for Abbott globally for health outcomes with scientific and providing training and
2030. and technical expertise. resources to help decentralize
care and bring people into the
care system early.

Sr. Material issue Risk or Rationale for identifying the Risk/ In case of risk, approach to adapt or Financial Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
No. identified Opportunity Opportunity mitigate Implications Policy and Management processes
8. Removing Opportunity Our goal is to break down By 2025, there will be 1.1 Positive 1. a. Whether your Company’s policy/policies cover
barriers to barriers that may keep people billion women experiencing each principle and its core elements of the Yes Yes Yes Yes Yes Yes Yes Yes Yes
health from living healthy. menopause in the world. We NGRBCs. (Yes/No)
recently launched a campaign
We work to remove barriers to to debunk misconceptions b. Has the policy been approved by the Board?
health such as living in a rural and spark more conversations Yes Yes Yes Yes Yes Yes Yes Yes Yes
(Yes/No)
area to make it easier for you about menopause. Abbott c. Web-link of the policies, if available These policies are available on https://www.abbott.co.in/
to see a doctor, get the care you invited women to share their
investor-relations.html. Policies pertaining to P1, P3 and P9
need and better understand how experiences of menopause in
are uploaded on the intranet portal of the Company.
to live healthy. The Next Chapter, a collection 2. Whether the Company has translated the policy into
of stories from women living in Yes
procedures. (Yes/No)
China, India, Mexico and Brazil.
There have been 3,10,000+ visits 3. Do the enlisted policies extend to your value chain Some of our policies, depending upon relevance,
to The Next Chapter digital hub partners? (Yes/No) are extended to partners.
and 70,000+ downloads of the 4.
Name of the national and international
e-book. We also developed codes/certifications/labels/standards (e.g. Forest
materials to support healthcare Stewardship Council, Fairtrade, Rainforest Alliance,
professionals in changing the No
Trustee) Standards (e.g. SA 8000, OHSAS, ISO, BIS)
conversation on menopause. adopted by your Company and mapped to each
Also, Abbott supports principle.
independent menopause centers 5. Specific commitments, goals and targets set by the
As per Annexure 1
in India to empower women Company with defined timelines, if any.
going through menopause. The 6. Performance of the Company against the specific
centers (India : 780) include commitments, goals and targets along-with reasons As per Annexure 1
information to help women in case the same are not met.
navigate menopause, from live
educational sessions driven Governance, Leadership and Oversight
by doctors to brochures and 7. Statement by Director responsible for the business responsibility report, highlighting ESG related challenges,
webinars and these women can targets and achievements :
get care by doctors specialized
At Abbott, our approach to sustainability starts with the people we serve. As a healthcare Company, the biggest impact we
in women’s health.
can have is living our purpose to help people live better and healthier lives. We achieve this through the way we operate
and by providing quality products and offerings. We aim to deliver sustainable and responsible growth that improves lives
SECTION B : MANAGEMENT AND PROCESS DISCLOSURES
and creates value in communities around the world.
This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting
the National Guidelines for Responsible Business Conduct (NGRBC) Principles and Core Elements. Our Abbott global 2030 Sustainability Plan (https://www.abbott.com/responsibility/sustainability.html) is focused on
designing access and affordability into our life-changing technologies and products. Our goal is to improve the lives of
The NGRBC has brought out by the Ministry of Corporate Affairs advocates nine principles referred as P1-P9 as given below : more than 3 billion people by decade’s end-reaching 1 billion more than we do today, each year. That will require innovating
for access and affordability from the first day of research and development. We are also working across our business and in
P1 Businesses should conduct and govern themselves with integrity and in a manner that is ethical, transparent and
partnership with others to break down barriers and bring these innovations to the people who need them. Abbott India is
accountable.
aligned to contribute to said Sustainability Plan.
P2 Businesses should provide goods and services in a manner that is sustainable and safe.
8.
Details of the highest authority responsible for
P3 Businesses should respect and promote the well-being of all employees, including those in their value chains. Vivek V Kamath
implementation and oversight of the Business
Managing Director
P4 Businesses should respect the interests of and be responsive to all its stakeholders. Responsibility policy(ies).
P5 Businesses should respect and promote human rights. 9. Does the Company have a specified Committee of
Yes
P6 Businesses should respect and make efforts to protect and restore the environment. the Board/Director responsible for decision making
Vivek V Kamath
on sustainability related issues? (Yes/No). If yes,
P7 Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and Managing Director
provide details.
transparent.
P8 Businesses should promote inclusive growth and equitable development.
P9 Businesses should engage with and provide value to their consumers in a responsible manner.

10. Details of review of NGRBCs by the Company : %age of persons in

Total number of
respective category
Segment training and awareness Topics/principles covered under the training and its impact
Indicate whether review was undertaken by covered by the awareness
Frequency (Annually/Half yearly/Quarterly/any programmes held
Director/Committee of the Board/ programmes
Subject for review other-please specify)
any other Committee
• Code of Business Conduct
P1 P2 P3 P4 P5 P6 P7 P8 P9 P1 P2 P3 P4 P5 P6 P7 P8 P9
• Global Anti-Corruption
Performance against above Annually at the time of approval of
• Product Quality Complaint and Adverse Event
policies and follow up action Yes Business Responsibility and Sustainability Key Managerial
Reporting at Abbott
Reporting Personnel
• Protecting Sensitive Data
Compliance with statutory Employees 1 100%
requirements of relevance to the other than • Understanding Trade Sanctions (training on this
Yes Annual basis topic allocated to select eligible employees)
principles and rectification of BOD and Key
any non-compliances Managerial • Abbott Enterprise Cybersecurity
Personnel • Certification for Code of Business Conduct,
P1 P2 P3 P4 P5 P6 P7 P8 P9 Confidential Information and Conflict of Interest
11. as the Company carried out independent assessment/
H Our policies are reviewed internally Certification for topics as under :
evaluation of the working of its policies by an external on a periodic basis. No review is conducted • Code of Business Conduct
agency? (Yes/No). If yes, provide name of the agency. through external agency. Workers 1 100%
• Confidential Information
12. If answer to question (1) above is “No” i.e., not all Principles are covered by a policy, reasons to be stated : • Conflict of Interest
Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
2. etails of fines/penalties/punishment/award/compounding fees/settlement amount paid in
D
The Company does not consider the principles material to its proceedings (by the Company or by Directors/KMPs) with regulators/law enforcement agencies/
business (Yes/No) judicial institutions, in the financial year :
The Company is not at a stage where it is in a position to formulate Monetary
and implement the policies on specified principles (Yes/No) Not Applicable Name of the
NGRBC Has an appeal been
The Company does not have the financial or/human and technical regulatory/enforcement Amount (in `) Brief of the Case
Principle preferred? (Yes/No)
agencies/judicial institutions
resources available for the task (Yes/No)
Penalty/Fine - - - - -
It is planned to be done in the next financial year (Yes/No) Settlement - - - - -
Any other reason (please specify) Compounding Fee - - - - -
Non-Monetary
SECTION C : PRINCIPLE WISE PERFORMANCE DISCLOSURES NGRBC Name of the regulatory/enforcement agencies/ Has an appeal been
Brief of the Case
Principle judicial institutions preferred? (Yes/No)
Principle 1 : Businesses should conduct and govern themselves with integrity and in a manner that is Imprisonment - - - -
Ethical, Transparent and Accountable Punishment - - - -
Essential Indicators
3. f the instances disclosed in Question 2 above, details of the Appeal/Revision preferred in cases
O
1. Percentage coverage by training and awareness programmes on any of the principles during the where monetary or non-monetary action has been appealed :
financial year 2022-23 : Case Details Name of regulatory/enforcement agencies/judicial institutions
%age of persons in - -
Total number of
respective category
Segment training and awareness Topics/principles covered under the training and its impact
programmes held
covered by the awareness 4. oes the Company have an anti-corruption or anti-bribery policy? If yes, provide details in brief and
D
programmes if available, provide a web-link to the policy :
As a part of Board familiarization programs, sessions Yes. Abbott India has adopted Abbott global Anti-Corruption policy and the same is available on the intranet portal of the
Board of are held during the year on the strategy, business Company.
Directors 8 operations, ethics and compliance policies, financials, 100% Our Code of Business Conduct, available in 29 languages, is foundational to ethical conduct at Abbott. Every employee
(“BOD”) risk management, internal controls and compliances, is required to read and certify adherence to the code annually. This and other policies are designed to align with laws,
CSR and ESG and EHS initiatives and projects. regulations and industry guidelines. Our Global Anti-Corruption Policy, which has been adopted locally by Abbott India,
prohibits bribery and corruption in any form. Employees complete annual training on this and other related policies.
All third parties (for example, distributors, dealers, wholesalers, resellers and marketing partners promoting and selling
Abbott products) with whom Abbott works are expected to hold themselves to the same ethical and legal compliance
standards as Abbott does; and we detail our expectations in our Third-Party Guidelines. Our process requires Abbott
businesses, subsidiaries and affiliates outside the U.S. to complete diligence before engaging third parties, including
screening suppliers, identifying high-risk partners and monitoring and mitigating potential risks.

5. Number of Directors/KMPs/Employees/Workers against whom disciplinary action was taken by any 2. a. Does the Company have procedures in place for Principle 3 : Businesses should respect and promote
law enforcement agency for the charges of bribery/corruption : sustainable sourcing? (Yes/No) the well-being of all employees, including those in
FY 2022-23 FY 2021-22 their value chains
Yes. Abbott has been working on increasing the
Directors NIL NIL sourcing of local packaging materials, thereby
KMPs NIL NIL
reducing the need for transportation and the
Employees NIL NIL resultant vehicular emissions. For example, the 1. a. Details of measures for the well-being of Employees :
Workers NIL NIL bottles for liquid products are pre-sleeved and The Company cares for and is concerned about the health
procured locally from a vendor close to the plant. and well-being of its employees.
6. Details of Complaints with regards to Conflict of Interest : There has been increasing focus on localizing
FY 2022-23 FY 2021- 22 the supply chain through the alternative vendor Our promise to each of our employees is to provide a
Number Remarks Number Remarks development process. workplace environment that :
No. of complaints received in relation to •
Offers extensive professional development,
NIL NIL NIL NIL b. If yes, what percentage of inputs were sourced
issues of Conflict of Interest of the Directors mentoring and training programs;
No. of complaints received in relation to sustainably?
NIL NIL NIL NIL • Encourages and supports work-life harmony;
issues of Conflict of Interest of the KMPs Approximately 27% of the materials were purchased
from local suppliers at Goa. • Offers competitive compensation and benefits;
7. rovide details of any corrective action taken or underway on issues related to fines/penalties/action
P
taken by regulators/law enforcement agencies/judicial institutions, on cases of corruption and conflicts 3. escribe the processes in place to safely
D • Promotes diversity, equity and inclusion;
of interest :
reclaim your products for reusing, recycling • Provides means to listen to employees;
NIL and disposing at the end of life, for (a) Plastics
(including packaging) (b) E-waste (c) Hazardous • Commits to employee health and safety and offers
Principle 2 : Businesses should provide goods and services in a manner that is sustainable and safe waste and (d) other waste wellness programs.
Essential Indicators Abbott focuses on the 3Rs–namely reduce, recycle and The India Wellness Program is a flagship program that
reuse. Hazardous waste and sludge are dispatched covers initiatives around emotional, physical, financial
1. ercentage of R&D and Capital Expenditure (capex) investments in specific technologies to improve
P to cement factories which utilize these as fuel for and social wellness as the four key pillars of employee
the environmental and social impacts of product and processes to total R&D and capex investments manufacturing cement, thereby recovering energy. well-being and we continue to amplify it year on year.
made by the Company, respectively : Other non-hazardous waste like paper, glass, metals, etc.,
Physical Wellness : Health check-ups, on-site doctor,
are sent to approved vendors for recycling. The Goa plant
FY 2022-23 FY 2021-22 Details of improvements in environmental and social impacts vaccination drives and exercise challenges are programs
retains its certification of Zero Waste to Landfill (ZWL)
that are provided for employees to focus on their physical
R&D NIL NIL - which means no waste is disposed of through landfilling,
protecting the environment from degradation. health. We have an annual team challenge known as
Capex 53% 25% For FY 2022-23 “Exercise Across Abbott” encouraging employees to
- Solar PV panel for Green power resulted in reduction of CO2 emissions and cost; The Company has engaged an authorized recycler for form teams and publish daily exercise accomplishments.
E-waste disposal. Other waste such as biomedical waste
- Additional dust extraction systems to help reduce safety explosion risk along Emotional Wellness : Wellness of the mind is as
is sent to a vendor authorized by the Pollution Control
with improved industrial hygiene of shop floor employees; significant and essential as our overall wellness.
Board.
- Close loop powder transfer system to help enhance industrial hygiene of shop The Company aims to support its employees on this
floor employees; The Company adheres to the requirements of the Plastic journey by offering avenues where employees can learn
Waste Management Rules, 2022 as laid down by the from and leverage the knowledge of experts through a
- ETP upgrade with pretreatment and multi disk screw press to help ensure better
control of parameters and reduction in moisture content of sludge help us to Ministry of Environment, Forests & Climate change. host of programs addressing various aspects of emotional
reduce cost; The Company has entered into an agreement with waste well-being. MindStrong-a program targeted at building
management agencies for collecting and processing mental wellness and resilience, was launched as part of
- Brine chiller with Eco friendly refringent having a lower global warming
plastic packaging waste, across the states and union the India Wellness Program and has seen major success
potential;
territories of India where it operates. in 2022. In 2022, the initiative targeted sensitive
- Sprinkler system for material store.
issues like dealing with stress, sleep management,
For FY 2021-22 4.
Whether Extended Producer Responsibility anger management, family and time management.
- Dust extraction system to help reduce safety explosion risk along with improved (EPR) is applicable to the Company’s activities A week in October 2022 was designated as the
industrial hygiene at shop floor; (Yes/No). If yes, whether the waste collection “Mental Health Awareness Week” wherein multiple
plan is in line with the Extended Producer programs and sessions were executed that encourage
- New occupational health center with ambulance containing medical equipment;
Responsibility (EPR) plan submitted to employees to be more open about mental wellness issues.
- New granulator with 12 pressure rating and closed powder transfer system to Pollution Control Boards? If not, provide steps
help increase industrial hygiene; taken to address the same. We also provide employees a dedicated Employee
- New coating machine with emission control devices; Assistance Program (EAP).
Yes, EPR is applicable to Abbott’s activities and a waste
- Converted existing diesel power generator to use natural gas partially to help collection plan has been submitted to the Central At Abbott, we recognize that the right help at the right
reduce carbon emissions. Pollution Control Board in line with EPR. time can help manage challenges or crises life may bring.

The EAP was started with this aim in mind. It is an independent counselling and resource service sponsored by Abbott for 2. Details of retirement benefits, for current financial year and previous financial year :
its employees. Its features include :
FY 2022-23 FY 2021-22
• 24/7 availability for employees and their families via phone, e-mail or live chat; No. of No. of No. of No. of
Deducted and Deducted and
employees workers employees workers
• All calls answered by psychologists; Benefits deposited with deposited with
covered covered covered covered
the authority the authority
• Assistance for personal issues that could affect health; as a % of total as a % of total as a % of total as a % of total
(Y/N/N.A.) (Y/N/N.A.)
employees workers employees workers
• Counselling for work life balance, stress management, management skills and family support, including legal and PF 100% 100% Yes 100% 100% Yes
financial information. Gratuity 100% 100% Yes 100% 100% Yes
Financial Wellness : The Company arranges sessions with experts to educate employees on financial planning to enable ESI NA NA NA NA 1.3% Yes
them to understand the basics of retirement planning or planning for financial uncertainties/debt management, personal
income tax awareness, etc. 3. Accessibility of workplaces :
Are the premises/offices of the Company accessible to differently abled employees and workers, as per the
Social Wellness : The Company believes in inculcating a culture where employees understand the broader sense of purpose.
requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the
There are various initiatives that are run throughout the year that drive a sense of community and align employees towards
Company in this regard.
the corporate social responsibility agenda.
Abbott is an Equal Opportunity Employer. We hire employees on merit and basis suitability to the role. We have a global
Some initiatives under health and well-being in addition to the above-mentioned initiatives are :
Disability Network which aims to be a best-in-class support for people of all abilities. The Company empowers people
1. Work Life Harmony : The Company offers flexible work schedules to enable employees achieve balance in their work with disabilities to reach their fullest career potential through a culture of understanding, awareness, advancement and
and personal responsibilities. We view these initiatives not only as important tools for talent attraction and retention, advocacy for individuals with disabilities.
but also as key components in our approach to diversity, equity and inclusion.
The Company’s head office in Mumbai as well as the Plant at Goa are equipped with basic requirements such as ramps,
2. Listening to our employees : Your Voice Counts. At Abbott, it is important for us to get the pulse of how our employees washrooms and IT assets that are PWD (Persons with Disabilities) friendly, for the employees and workers with physical
feel. With this objective in mind the Company introduced “Your Voice Counts” survey. The survey is crucial to disability.
the Company as it helps to identify areas that our employees think are important. The survey is anonymous and is
released to a sample set of employees on a quarterly basis. The Company consistently works towards identifying the need of differently abled employees and proactively supporting
them on the same. For an in-depth understanding about the infrastructure required to support such employees, the
Health and Safety Company has engaged an agency for an infrastructure audit. Basis the findings in the report, suitable actions will be taken
We are committed to keep our employees safe by preventing incidents in and around the workplace. We strive to maintain to further strengthen the facilities and to meet the highest standards possible. The Company has also engaged an agency
high standards of Environment, Health and Safety (EHS) practices. The Company has global policies and standards dedicated to Individuals with special need, to conduct sensitivity workshops for all head-office based employees including
regarding how we manage employee health, safety and productivity while also protecting the environment. The Company’s contract, housekeeping and admin support staff.
manufacturing plant and commercial sites adhere to auditing and reporting requirements, which serve as a baseline for
health and safety performance worldwide. 4. oes the Company have an equal opportunity policy as per the Rights of Persons with Disabilities Act,
D
2016? If so, provide a web-link to the policy?
% of Employees covered by
Total Health Insurance Accident Insurance Maternity Benefits Paternity Benefits Day Care Facilities Yes, the Company has a comprehensive Equal Opportunity Policy as per the Rights of Persons with Disabilities Act, 2016.
Category The Policy is available on https://www.abbott.co.in/investor-relations.html.
(A) No. (B) % (B/A) No. C % (C/A) No. (D) % (D/A) No.(E) % (E/A) No. (F) % (F/A)
Permanent Employees
Male 3,140 3,140 100% 3,140 100% NA 3,140 100% 183 5.8% 5. Return to work and Retention rates of permanent employees and workers that took parental leave :
Female 332 332 100% 332 100% 332 100% NA 129 38.8% Permanent Employees Permanent Workers
Total 3,472 3,472 100% 3,472 100% 332 100% 3,140 100% 312 9% Gender
Return to work rate Retention rate Return to work rate Retention rate
Other than Permanent Employees
Male 100% 88% 100% 100%
Male - - - - - - - - - - -
Female 87% 100% 100% 100%
Female - - - - - - - - - - -
Total - - - - - - - - - - - Total 99% 89% 100% 100%
b. Details of measures for the well-being of Workers : 6. Is there a mechanism available to receive and redress grievances for the following categories of
% of Workers covered by
employees and worker? If yes, give details of the mechanism in brief :
Total Health Insurance Accident Insurance Maternity Benefits Paternity Benefits Day Care Facilities Yes/No (If Yes, then give details of the mechanism in brief )
Category
(A) No. (B) % (B/A) No. C % (C/A) No. (D) % (D/A) No.(E) % (E/A) No. (F) % (F/A) Permanent Workers Yes
Permanent Workers Other than Permanent Workers Yes
Male 211 211 100% 211 100% NA 211 100% 23 11% Permanent Employees Yes
Female 17 17 100% 17 100% 17 100% NA 16 94% Other than Permanent Employees -
Total 228 228 100% 228 100% 17 100% 211 100% 39 17% Abbott is committed to building a cordial work atmosphere that fosters trust and collaboration, by resolving grievances in a
Other than Permanent Workers systematic, fair and timely manner. We have a Grievance Redressal Policy where the procedure, committee and individuals
Male 118 118 100% 118 100% NA 77 65% - - involved as part of a resolution process are specified. The Grievance Redressal Committee is involved in resolving issues
Female 31 31 100% 31 100% 31 100% NA 12 38.7% and the Grievance Process helps maintain a fair and equitable process.
Total 149 149 100% 149 100% 31 100% 77 65% 12 8%

7. Membership of Employees and Worker in association(s) or unions recognized by the Company : 10. Health and safety management system :
FY 2022-23 FY 2021-22 a. Whether an occupational health and safety management system been implemented by the Company?
Total No. of employees/ Total No. of employees/ (Yes/ No). If yes, the coverage of such system?
employees/ workers in respective employees/ workers in respective
Category Yes, the Company has implemented an occupational health and safety management system and is covered at all levels
workers in category, who are % (B/A) workers in category, who are % (D/C)
respective part of association(s) respective part of association(s) at the Goa plant and offices.
category (A) or Unions (B) category (C) or Unions (D)
b. What are the processes used to identify work-related hazards and assess risks on a routine and
Male 3,140 - - 3,031 - - non-routine basis by the Company?
Female 332 - - 329 - -
The Company has deployed a risk assessment tool, gap assessment tool, incident reporting and investigation
Total Permanent Employees 3,472 - - 3,360 - - and trend analysis to identify work-related hazards and assess risks on a routine and non-routine basis.
Male 211 211 100% 220 220 100%
c. Whether you have processes for workers to report the work-related hazards and to remove themselves from
Female 17 17 100% 17 17 100% such risks. (Y/N)
Total Permanent Workers 228 228 100% 237 237 100%
Yes, Program of Behavior Based Safety, which includes observation and correction actions. There also exists a
system for reporting of unsafe conditions and near misses. Such initiatives have helped to improve positive safety
8. Details of training given to Employees and Workers : matrices. The Site Safety Committee is active and responsible for reporting and minimizing work-related hazards.
FY 2022-23 FY 2021-22
d. Do the employees/worker of the Company have access to non-occupational medical and healthcare services?
On Health On Skill On Health and Safety (Yes/No)
Category Total Total On Skill Upgradation
and Safety Measures Upgradation Measures
(A) (D) Yes, non-occupational medical services are offered to all employees/worker at Occupational Health Center. All our
No. (B) % (B/A) No (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
office employees are covered under the medical insurance.
Permanent Employees
Male 3,140 2,818 89.75% 2,818 89.75% 3,031 2,576 84.99% 2,576 84.99% 11. Details of safety related incidents :
Female 332 242 72.89% 242 72.89% 329 212 64.44% 212 64.44% Safety Incident/Number Category FY 2022-23 FY 2021-22
Total 3,472 3,060 88.13% 3,060 88.13% 3,360 2,788 82.98% 2,788 82.98% Lost Time Injury Frequency Rate (LTIFR) Employees 0.37 0.66
Permanent Workers (per one million-person hours worked) Workers - -
Male 211 186 88.15% 186 88.15% 220 186 84.55% 186 84.55% Total recordable work-related injuries Employees 26 23
Female 17 1 5.88% 1 5.88% 17 1 5.88% 1 5.88% Workers - -
Total 228 187 82.02% 187 82.02% 237 187 78.90% 187 78.90% No. of fatalities Employees - -
A
ll employees are compulsorily trained on EHS and on Skill development through induction program and sites standard operating procedures. Workers - -
The training is conducted at time of joining and on regular intervals.
High consequence work-related injury or ill-health Employees - -
(excluding fatalities) Workers - -
9. Details of Performance and Career Development reviews of Employees and Workers :
Category
FY 2022-23 FY 2021-22 12. Describe the measures taken by the Company to ensure a safe and healthy workplace :
Total (A) No. (B) % (B/A) Total (C) No. (D) % (D/C) We are committed to supporting a safe and healthy workplace for our employees, visitors and contractors. We have
Employees implemented several measures to help ensure safety and well-being at the workplace. Here are some of the measures taken
Male 3,140 3,140 100% 3,031 3,031 100% by us :
Female 332 332 100% 329 329 100% • Implementing safety policies and procedures : We have defined safety policies and procedures in place that are
Total 3,472 3,472 100% 3,360 3,360 100% regularly updated to help ensure compliance with local laws and regulations. We provide regular safety training to
employees to help ensure that they are aware of the safety protocols and standards to be followed.
Workers
Male 211 211 100% 220 220 100% • Conduct regular safety inspections : We conduct regular safety inspections of our facilities to identify potential
hazards and risks and take corrective measures to try to mitigate the identified risks to provide a safe working
Female 17 17 100% 17 17 100% environment.
Total 228 228 100% 237 237 100%
• Providing Personal Protective Equipment (PPE) : We provide appropriate PPE to employees based on their work
requirements. We also take steps to ensure that the PPE provided is of high quality and meets safety standards.
We provide training to employees on the proper use, maintenance and disposal of PPE.
• Promoting a culture of safety : We encourage our employees to report any safety concerns or hazards without fear
of retaliation. We have also established a reporting mechanism for safety concerns and the Company takes prompt
action to address any concerns raised.

13. Number of Complaints on the following made by Employees and Workers : Frequency of
Engagement
FY 2022-23 FY 2021-22 Whether Channels of Communication
(Annually/ Purpose and scope of engagement
Stakeholder identified (E-mails, SMS, Newspapers, Pamphlets,
Pending Pending Half-yearly/ including key topics and concerns raised
Filed during Filed during Group as Advertisement, Community meetings,
resolution at Remarks resolution at Remarks Quarterly/ during such engagements
the year the year Vulnerable Notices Board, Website, Others)
the end of year the end of year Others, please
specify)
Working Conditions - - - - - -
Healthcare No - Sales Team visits Regular - Inform HCPs about Abbott
Health and Safety - - - - - - Professionals Therapies / Brands / Evidence
- Continuing Medical Education
(HCPs) based Science
and Workshops
14. Assessments for the year :
- Updating scientific knowledge and
- Medical Conferences
% of your plants and offices that were assessed (by Company or statutory authorities or third parties) skills of HCPs through CMEs and
Health and safety practices - - Patient support or education Workshops
programs
Working Conditions Vendor Labor compliance audit has been conducted for head office - Clinical research and Publications
- Digital Therapy updates with HCPs
through e-mails
15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) - Responding to scientific medical
and on significant risks/concerns arising from assessments of health and safety practices and working - Abbott Therapy websites queries of HCPs
conditions : - Scientific Knowledge platform - Support conduct of Patient
Various trainings are conducted such as Business To Business/Business To Work, Annual Refresher EHS Training, High Education/Diagnosis programs
Risk Driver Training, Commentary Drive Training and Post Incident Coaching for field employees. EHS training are
- Seek insights from HCPs on
imparted to all head office employees at the time of onboarding.
Challenges/Needs in clinical
practice
Principle 4 : Businesses should respect the interests of and be responsive to all its stakeholders
Patients No Therapy websites On as - Patient Information materials for
Essential Indicators needed reference
basis
- Responding to the questions/
1. Describe the processes for identifying key stakeholder groups of the Company :
correspondence received through
The Company recognizes that listening to its stakeholders and responding thoughtfully to their concerns and Company website/e-mails
ideas are vital to its success as a business and to its progress as a global corporate citizen. Understanding stakeholder
Employees No Employee surveys, Monthly Regular - Employee Health, Safety, Mental
insights helps the Company to develop new products to address unmet health needs; educate patients; engage healthcare
Townhalls, All-employee e-mails Health and Wellbeing programs
professionals and understand how and where our Company can make a real difference. The Company engages with a
and newsletters, Employee
broad range of stakeholders including Patients, Consumers and Customers; Governments and Regulators; Healthcare -
Employee engagements to seek
networks, Abbott World intranet
Professionals; Employees; NGOs; Local Communities; Suppliers and Shareholders. Stakeholder engagement is conducted, feedback and inputs
aLIVE smartphone app, Yammer®
through many associations and partnerships of which the Company is a member. The Company also seeks to engage with groups, Employee Giving Campaign - Training/skill development
stakeholders more informally, through networks and organizations in which it participates. programs
- Communication about the policies
2. ist stakeholder groups identified as key for your Company and the frequency of engagement with each
L and processes
stakeholder group :
- Organization updates
Frequency of
Engagement Communities Yes Community engagement programs Regular Community engagement programs
Whether Channels of Communication
(Annually/ Purpose and scope of engagement with SEWA, AmeriCares and Smile
Stakeholder identified (E-mails, SMS, Newspapers, Pamphlets,
Group as Advertisement, Community meetings,
Half-yearly/ including key topics and concerns raised Foundations, Health Clinics
Quarterly/ during such engagements
Vulnerable Notices Board, Website, Others)
Others, please Suppliers No Supplier Guidelines published in Periodically - Supplier Evaluation
specify) multiple languages, Supplier Social - Supplier Meetings
Shareholders/ No - Annual Shareholders’ Annual/ Providing adequate and timely Responsibility Program, including
Investors Meetings Quarterly/ information about the financial surveys, Supplier audit programs,
need basis performance of the Company and other e-mails and other communication
- Investor Group Meetings updates relevant to them Government No - Trade Associations/Chambers Periodically Partner with Government to support
- Annual Report Indian National policies or programs
- Direct engagements
- Investor section under
Company’s website at www.
abbott.co.in
- Through Stock Exchange
intimations

Principle 5 : Businesses should respect and promote human rights 4. Do you have a focal point (Individual/ We contribute to the fulfilment of human rights through
Committee) responsible for addressing human compliance with laws and regulations wherever we
Essential Indicators rights impacts or issues caused or contributed operate, as well as through our policies and programs.
1. Employees and Workers who have been provided training on human rights issues and policy(ies) of the to by the business? (Yes/No) We take steps to prohibit illegal and inappropriate labor
Yes. The Company offers several channels where conditions and inhumane treatment in our workplaces
Company :
individuals can ask questions and raise concerns. and, also in connection with our business activities.
FY 2022-23 FY 2021-22
Employees can report to management through Our global guidelines include :
Category No. of employee/ No of employees/
Total (A) % (B/A) Total (C) % (D/C)
workers covered (B) workers covered (D) traditional communication channels but also have • Providing a healthy and safe working environment;
Employees access to a web portal and phone line through our
Permanent 3,472 3,472 100% 3,360 3,360 100% “Speak Up” portal. Our multilingual Ethics and • Promoting workforce diversity; not discriminating
Other than permanent - - - - - - Compliance Helpline is available globally 24/7 to voice against any employee for reasons such as race,
Total Employees 3,472 3,472 100% 3,360 3,360 100% concerns about a potential violation of our Company’s religion, color, age, gender, ethnicity, disability,
Workers values and Company’s Code of Business Conduct. marital status and sexual orientation, in addition to
Permanent 228 228 100% 237 237 100% any other status protected by local law;
Other than permanent 149 149 100% 172 172 100% Abbott is committed to providing a cordial work
Total Workers 377 377 100% 409 409 100% atmosphere for employees to foster trust and • Not tolerating harassment or harsh or inhumane
collaboration, by resolving grievances in a systematic, treatment in the workplace;
2. Details of minimum wages paid to Employees and Workers : fair and timely manner. The Grievance Redressal Policy • Protecting individual privacy;
FY 2022-23 FY 2021-22 is laid out wherein the procedure, committee and
Equal to More than Equal to More than individuals involved as part of the resolution process are • Providing compensation and benefits that are
Category
Total (A) Minimum Wage Minimum Wage Total (D) Minimum Wage Minimum Wage specified. The Grievance Redressal Committee resolves competitive and comply with applicable laws for
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D) issues through effective communication, initiative and minimum wages, overtime and mandated benefits
Employees sound judgement. as well as complying with child labour laws;
Permanent
Male 3,140 - - 3,140 100% 3,031 - - 3,031 100% There are various leadership touch points created • Encouraging open communication between the
Female 332 - - 332 100% 329 - - 329 100% for employees through town halls, cycle meets, field management and employees.
Other than Permanent visits and various other forums to enable a culture of Abbott maintains an open working environment
Male - - - - - - - - - - open communication. The “Your Voice Counts” survey
that allows free exchange of information through
Female - - - - - - - - - - feedback is reviewed by the leadership on regular basis,
Workers communication channels across the organization. All
to further strengthen the employee experience.
Permanent employees are allowed to share their concerns, problems,
Male 211 - - 211 100% 220 - - 220 100% Abbott has various initiatives and policies that help questions or suggestions without any fear of retaliation
Female 17 - - 17 100% 17 - - 17 100% provide support systems to employees like 24x7 and it is vital that these concerns are discussed and
Other than Permanent Employee Assistance Programs, Distress Management resolved in a timely manner.
Male 118 - - 118 100% 121 - - 121 100% Protocol, Project Respect, Employee Health and Safety
Female 31 - - 31 100% 51 - - 51 100% The Company offers several channels where individuals
Processes and policies like Equal Opportunity Employer
can ask questions and raise concerns. Employees
Policy, Prevention of Sexual Harassment, Prevention
3. Details of remuneration/salary/wages : can report to management through traditional
of Workplace Harassment which helps foster a positive
communication channels but also have access to a web
work environment.
(` in Crores) portal and phone line through our “Speak Up” portal.
Male Female For addressing matters pertaining to sexual Our multilingual Ethics and Compliance Helpline
Median remuneration/ Median remuneration/ harassment, there is a policy as laid down under the is available globally 24/7 to voice concerns about a
Category
Number salary/wages of Number salary/wages of law, under which an Internal Complaints Committee potential violation of our Company’s values and
respective category respective category has been established, which investigates such matters. Company’s Code of Business Conduct.
Board of Directors (BoD) 6 0.30 3 0.30 Also, mandatory annual refresher training is given to all
employees and contract staff. By creating open channels of communication, Abbott
Key Managerial Personnel (KMP) 2 5.06 1 1.16
promotes a positive work environment, while also
Employees other than BoD and KMP 3,138 0.08 331 0.09 fostering a culture of integrity and ethical decision-
5. Describe the internal mechanisms in place to
Workers 211 0.10 17 0.05 making. “SpeakUp” provides an avenue for employees
redress grievances related to human rights
issues. and/or others to raise concerns perceived or known in
the work environment.
The Company believes in the dignity of every human
being and respects individual rights. These principles are Abbott is committed to providing a cordial work
reflected in the Company’s mission and core values and atmosphere to foster trust and collaboration, by resolving
are reinforced through our global employment policies. grievances in a systematic, fair and timely manner.

In cases where an informal resolution could not be A Distress Management Protocol exists to enable 9. Assessments for the year :
achieved, the Grievance Redressal Policy is laid out managers and HR business partners to gauge a distress % of your plants and offices that were assessed
wherein the procedure, committee and individuals situation and proactively offer support to the employee, (by Company or Statutory authorities or third parties)
involved as part of the resolution process are specified. where possible, in a timely, empathetic and judicious Child labour 100%
Grievance Redressal Committee is involved in resolving manner. Forced/involuntary labor 100%
issues through effective communication, initiative and Sexual harassment 100%
Employee Health and Safety is of paramount importance
sound judgment. Discrimination at workplace 100%
and we are committed to helping our employees stay safe
As a preferred employer, Abbott is committed to provide by preventing incidents in and around the workplace. Wages 100%
equal employment opportunity. Abbott views the unique We strive to maintain high standards of Environment,
differences and perspectives that individuals bring to the Health and Safety (EHS) practices. The Company has 10. P
rovide details of any corrective actions taken or underway to address significant risks/concerns
workplace as integral to our success in business. global policies and standards regarding how we manage arising from the assessments at Question 9 above :
employee health and safety. Basis the annual compliance audit conducted internally, there were no significant risks/concerns arising from the
Abbott has an Employee Assistance Program (EAP) assessments at Question 9 above.
to help our employees get the right help from expert In their day to day working, employees may encounter
psychologists at the right time to help manage personal work related queries and issues. A dedicated “1 Point” Principle 6 : Businesses should respect and make efforts to protect and restore the environment
or professional challenges. It is an independent Team has been established to enable employees to log
counselling and resource service sponsored by Abbott for their queries through a system and get a time bound Essential Indicators
its employees and their families. response to the same.
1. Details of total energy consumption (in Joules or multiples) and energy intensity :
6. Number of complaints made by Employees and Workers : Parameter Unit FY 2022-23 FY 2021-22
FY 2022-23 FY 2021-22 Total electricity consumption (A) GJ 27,323.74 25,826.36
Pending Pending GJ (Diesel) 3,386.57 4,268.84
Complaints Filed during Filed during Total fuel consumption (B)
the year
resolution at Remarks
the year
resolution at Remarks GJ (Gas) 0.99 0.01
the end of year the end of year Energy consumption through other sources (C) GJ (Bio Briquette) 7,474.04 5,726.79
Sexual Harassment 1 - 1 - Total energy consumption (A+B+C) GJ 38,185.34 35,822.00
Discrimination at workplace - - 1 - Energy intensity per rupee of turnover GJ/Crore INR 7.14 7.29
Child Labour - - - - (Total energy consumption/turnover in rupees in Crores)
Forced Labour/Involuntary Labour - - - -
Wages - - - - Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N)
Other Human Rights related issues -- - - - If yes, name of the external agency.
Total 1 - 2 - No
7. echanisms to prevent adverse consequences to the complainant in discrimination and harassment

M 2. oes the Company have any sites/facilities identified as Designated Consumers (DCs) under the
D
cases. Performance, Achieve and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose
The Company does not tolerate retaliation against anyone who reports a violation of Company policy in good faith. whether targets set under the PAT scheme have been achieved. In case targets have not been achieved,
These policies are well publicized and enforced throughout the Company. It is the Company’s philosophy to maintain provide the remedial action taken, if any.
an open working environment that allows free exchange of information through communication channels across the No
organization. All employees are allowed to share their concerns, problems, questions or suggestions without any fear of
retaliation and it is vital that these concerns are discussed and resolved in a timely manner. In line with the Grievance 3. Provide details of the following disclosures related to water :
Redressal Policy, Abbott does not retaliate when a grievance is raised. We have an annual training on the Code of Business Parameter FY 2022-23 FY 2021-22
Conduct and POSH for all employees. We reinforce the aspect of no retaliation for the complainant during these trainings.
Water withdrawal by source (in m3)
(i) Surface water - -
8. Do human rights requirements form part of your business agreements and contracts? (Yes/No) (ii) Groundwater - -
We are committed to upholding the fundamental principles of human rights, labor, environmental protection and (iii) Third party water 81,686 cu. M* 59,364 cu. M*
anti-corruption to ensure long-term business success for Abbott and our suppliers and to improve lives around the world. (iv) Seawater/desalinated water - -
Our Abbott global Supplier Guidelines establish expectations for suppliers we work with, aligning with internationally (v) Others - -
recognized and industry-accepted guideline. Through the Guidelines, we detail our expectations that suppliers conduct Total volume of water withdrawal (i + ii + iii + iv + v) 81,686 cu. m 59,364 cu. M
business in compliance with relevant legal requirements and industry codes. When asked, suppliers are expected to Total volume of water consumption (in KL) 81,686 cu. m 59,364 cu.m
demonstrate compliance at the request and to the satisfaction of Abbott through our Supplier Responsibility program. 15.2 12.1
Water intensity per rupee of turnover (Water consumed/turnover in crores `)
We have started embedding a social responsibility clause in applicable procurement contracts detailing our values and
*This pertains to Goa plant and Head office at BKC.
expectation that vendors comply with our Supplier Guidelines and remediate identified issues.
I ndicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N)
Further all other business agreements and contracts have a clause obligating the vendors to comply with all the applicable
If yes, name of the external agency.
central, state and local laws, regulations and guidance documents including, but not limited to, privacy and data protection
laws, tax laws and regulations; labour laws and regulations. No

4. as the Company implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its
H FY 2022-23 FY 2021-22
coverage and implementation. For each category of waste generated, total waste recovered through recycling, re-using or other recovery operations (in metric tonnes)
No Category of waste
(i) Recycled 144.78 162.98
5. Please provide details of air emissions (other than GHG emissions) by the Company :
(ii) Re-used - -
Parameter Please specify unit FY 2022-23 FY 2021-22
(iii) Other recovery operations 85.39 54.59
NOx µg/m3 0.45 0.46
SOx µg/m3 0.23 0.22 Total 230.17 217.57
For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes)
Particulate Matter (PM) µg/m3 110 107
Persistent Organic Pollutants (POP) µg/m3 - - Category of waste
Volatile Organic Compounds (VOC) µg/m3 - - (i) Incineration 271.25 325.07
Hazardous Air Pollutants (HAP) µg/m3 - - (ii) Landfilling Company is committed to Zero
Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N) Waste to Landfill and is also ZWL
If yes, name of the external agency. certified
No (iii) Other disposal operations NA NA
Total 271.25 325.07
6. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) and its intensity : Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N)

Parameter Unit FY 2022-23 FY 2021-22 If yes, name of the external agency.
Total Scope 1 Emissions (Break-up of the GHG into CO2, Metric Tonnes of 315 254
No
CH4, N2O, HFCs, PFCs, SF6, NF3, if available) CO2 equivalent
Total Scope 2 Emissions (Break-up of the GHG into CO2, Metric Tonnes of 5,572.90 4,337.52
CH4, N2O, HFCs, PFCs, SF6, NF3, if available) CO2 equivalent 9. riefly describe the waste management practices adopted in your establishments. Describe the strategy
B
Total Scope 1 and Scope 2 emissions per rupee of Turnover 1.1 0.9 adopted by your Company to reduce usage of hazardous and toxic chemicals in your products and
processes and the practices adopted to manage such wastes.
Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N)
If yes, name of the external agency. There is a continuous focus on the 3Rs–namely reduce, recycle and reuse. Certain waste and sludge are dispatched to
cement factories which utilize these as fuel for manufacturing cement, thereby recovering energy. Other non-hazardous
No waste like paper, glass, metals, etc. are sent to the approved vendors for recycling. The Goa plant retains its certification of
Zero Waste to Landfill (ZWL) which means no waste is disposed of through landfill.
7. oes the Company have any project related to reducing Green House Gas emission? If yes, then provide
D
details. The Company has engaged with the authorized recycler for E-waste disposal. Other Waste such as biomedical waste is sent
Yes, the Company has installed Solar power system of 286 kwp covering the terrace area of Goa plant and was to vendor authorized by the pollution control board.
commissioned from January 2023. This system is designed to generate power with grid and is inbuilt with net meeting The Company is adhering to the requirements of Plastic Waste Management Rules as laid down by the Ministry of
system and anti-islanding protection in case of grid power failure. Key benefits of this system are : Environment, Forests and Climate change. The Company has entered into agreement with waste management agency for
i. Will generate 314 mwh/annum collecting and processing plastic packaging waste, from the states and union territories of India where it operates.
ii. Carbon emission reduction of 228 mt/annum
iii. Guaranteed power generation for 20 years 10. I f the Company has operations/offices in/around ecologically sensitive areas (such as national parks,
iv. Minimum maintenance required for panel cleaning
wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation
zones etc.) where environmental approvals/clearances are required :
8. Provide details related to waste management by the Company : Sr.
Location of operations/offices Type of operations
Whether the conditions of environmental approval/clearance are being complied
No. with? (Y/N) If no, the reasons thereof and corrective action taken, if any.
Parameter FY 2022-23 FY 2021-22
NA NA NA NA
Total Waste Generated (in metric tonnes)
Plastic waste (A) 63.20 34.93 11. D
etails of environmental impact assessments of projects undertaken by the Company based on
E-waste (B) 3.26 0.37 applicable laws, in the current financial year :
Bio-medical waste (C) 1.00 0.97 Whether conducted by Results communicated
EIA
Construction and demolition waste (D) - - Name and brief details of project Date independent external agency in public domain Relevant Web-link
Notification No.
Battery waste (E) - - (Yes/No) (Yes/No)
Radioactive waste (F) - - NIL NIL NIL NIL NIL NIL

Other Hazardous waste. Please specify, if any. (G) 270.00 324.00
Other Non-hazardous waste generated (H). 163.96 182.37
Please specify, if any. (metal, glass, paper, ash, garden waste, etc)
Total (A+B+C+D+E+F+G+H) 501.42 542.64

12. I s the Company compliant with the applicable environmental law/regulations/guidelines in India; such 2. rovide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being
P
as the Water (Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, undertaken by your Company :
Environment Protection Act and Rules thereunder (Y/N) - Yes No. of Project Amount paid to
% of PAFs
If not, provide details of all such non-compliances : Sr. No. Project Name State District Affected Families PAFs in the FY
covered by R&R
(PAFs) (in `)
Specify the law/regulation/ Any fines/penalties/action taken by NIL NIL NIL NIL NIL NIL NIL
Sr. Provide details of the Corrective action
guidelines which was not regulatory agencies such as pollution
No. non-compliance taken, if any
complied with control boards or by courts 3. Describe the mechanisms to receive grievances of the local community :
NA NA NA NA NA Adapting to the core needs of the people is fundamental to Abbott’s approach and helps create solutions that can sustain
themselves and achieve scale.
Principle 7 : Businesses when engaging in influencing public and regulatory bodies, should do so in a manner • Abbott regularly engages with its stakeholders and key community institutions relevant to the projects. Detailed
that is responsible and transparent and structured community interactions are planned periodically to review the ongoing activities with the changing
Essential Indicators priorities and needs of the stakeholders and key community institutions.
• Abbott’s CSR programs adopt a bottom-up approach by keeping the community needs and priorities at the centre of
1. a. Number of affiliations with trade and industry chambers/associations : its interventions.
The Company is affiliated with 7 industry chambers/associations.
• Issues, complaints and grievances identified as part of these engagements are further investigated and addressed
b. List the top 10 trade and industry chambers/associations (determined based on the total members suitably in a time-bound manner.
of such body) the Company is a member of/affiliated to :
Sr.
4. Percentage of input material (inputs to total inputs by value) sourced from suppliers :
Name of the trade and industry chambers/associations Reach of trade and industry chambers/associations (State/National)
No. FY 2022-23 FY 2021-22
1. Mumbai Chamber of Commerce National Directly sourced from MSMEs/Small Producers 21% 23%
2. Indian Pharmaceutical Alliance National Sourced directly from within the district and neighboring districts 17% 19%
3. FICCI National
4. CII National Principle 9 : Business should engage with and provide value to their customers in a responsible manner
5. ASSOCHAM National
6. USIBC National Essential Indicators
7. USISPF National
1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback :
2. rovide details of corrective action taken or underway on any issues related to anti-competitive
P The Company has a mechanism to receive and respond to the consumer complaints towards product quality, adverse events/
conduct by the Company, based on adverse orders from regulatory authorities : vigilance reporting and post-release product actions. The Quality department of the organization has the responsibility for
Name of Authority Brief of the Case Corrective Action Taken oversight of all complaints and their management processes, including establishment and maintenance of written standard
NIL NIL NIL operating procedures.
Principle 8 : Businesses should promote inclusive growth and equitable development Procedures that define responsibilities for the oversight of complaint management systems, including the following :
• Managing the complaint process, including complaint intake, investigations and resolution;
• Reviewing complaint documentation, closures or other final actions;
1. etails of Social Impact Assessments (SIA) of projects undertaken by the Company based on applicable
D
laws, in the current financial year : • Maintaining complaint records, including written and other versions (e.g., electronic media);
SIA
Date of
Whether conducted by Results • Assuring that complaint records are readily accessible to the product manufacturing site(s) and responsible qualified
Name and brief of project Notification independent external communicated in Relevant Web-link person, if applicable;
notification
No. agency (Y/N) public domain (Y/N)
Quality and Affordable NA NA Yes Yes https://www.abbott.co.in/ • Assuring evaluation of complaints for regulatory reporting is performed;
Healthcare Delivery investor-relations.html
• Trending of complaints and adverse events/vigilance reports.
Program in partnership
with Self-Employed
2. urnover of products/services as a percentage of turnover from all products/service that carry
T
Women’s Association
Improving Access to NA NA Yes Yes https://www.abbott.co.in/
information about :
Healthcare through investor-relations.html As a percentage to total turnover
Health Clinics Environmental and social parameters relevant to the product NA
Safe and responsible usage 100%
Recycling and/or safe disposal NA

3.
4.
86
NA
Other
Advertising
Abbott India Limited
Data Privacy
Forced recalls
Cyber-security
Voluntary recalls
Annual Report 2022-23

Unfair Trade Practices
Restrictive Trade Practices
Delivery of Essential Services
(Received from Patients regarding products)

-
-
-
-
-
-
year
446*
Received
during the
NIL
NIL
Number
(Yes/No) If available, provide a web-link of the policy.

FY 2022-23
-
-
-
-
-
-
-
the Company at https://www.abbott.co.in/investor-relations.html.

the year
Pending
resolution
at the end of
Number of consumer complaints in respect of the following :
Details of instances of product recalls on account of safety issues :

-
-
-
-
-
-
-
Remarks
-
-
-
-
-
year
570*
Received
during the
FY 2021-22
NA
NA
-
-
-
-
-
-
-
*Complaints/Correspondence from patients received through website, e-mail and healthcare professionals etc., are also included.
the year
Pending
resolution
Reasons for recall

at the end of
of product recalls; penalty/action taken by regulatory authorities on safety of products/services.

-
-
-
-
-
-
-
Remarks
delivery of essential services; cyber security and data privacy of customers; re-occurrence of instances
6. Provide details of any corrective actions taken or underway on issues relating to advertising and
5. Does the Company have a framework/policy on cyber security and risks related to data privacy?
Yes, the Company has a Policy on Cyber Security and risks related to data privacy. The same is available on the website of
ANNEXURE 1
Focus Area Goals Progress made during the year Outlook for the current year
Protect Our goals are aligned to support the science- • Installation of Solar panels at Goa • Implementation of AWS (Alliance for
a healthy based environmental targets set for Abbott plant to harness clean energy to help Water Stewardship) core practices
Environment globally for 2030. reduce the carbon footprint of Goa (water stewardship initiative).
plant. Following were the benefits
Abbott has set enterprise-wide science-based • Upgrade fall protection system at Goa
derived from the project:
environmental targets for 2030 as detailed plant.
below. At Abbott India, some of our goals are • System is capable to generate
• Put in place the process to restrict
aligned to the said global goals and we are 314 MWH/Annum.
water consumption to 60,828 KL
continuing to contribute towards the same.
• Carbon Emission is reduced to (calendar year 2023).
(a) Climate Change : 228 MT/Annum.
• CO2 Emission/Energy conservation
• Reduce absolute Scope 1 and 2 carbon • Guaranteed generation for 20 5,496 MT (calendar year 2023).
Company Overview
emissions by 30% from 2018 baseline years.

• Continue Zero waste to landfill.
by the end of 2030, consistent with the
• Project was undertaken at the
objectives of the Science Based Targets
Goa plant for reducing energy
initiative (SBTi).
consumption under A3 Program.
• Work with our key carbon-intensive Brainstorming was done for a
suppliers to implement sustainable week and implemented these ideas
programs to reduce Scope 3 carbon generated to reduce daily energy
emissions. consumption by 1 % i.e., 180 KWH/
day without CAPEX investments.
(b) Water Usage :
Statutory Reports
• CO2 Emission/Energy conservation

• Work with key suppliers in high water
at Goa plant was 4,940 MT
stressed areas to reduce water quality
(calendar year 2022) as against
and quantity risks to Abbott and the
the target of 4,918 MT. This was
community.
mainly due to installation of new
• Achieve water stewardship certification service equipment which consumes
at all high water-impact manufacturing additional power.
sites in water-stressed areas.
• Water consumption at Goa plant
• Implement accredited water stewardship was 52,026 KL as against 51,244
management practices in more than 75% targets (for the calendar year 2022).
Financial Statements
of all manufacturing sites operating in

• The reject water from the Reverse
water-stressed areas.
Osmosis (RO) is utilized back in
(c) Waste Management : utilities and washroom. With this
16,425 KL water will be saved
• Reduce waste impact using a circular annually.
economy approach to achieve and
maintain at least 90% waste diversion • Installation of a dust extraction
rate. system having a provision of
Notice
explosion vent and isolation

mechanism.
87
88
• Engage with key suppliers to reduce • Up-grading of Effluent Treatment
the environmental impact of materials Plant (ETP) at Goa to address load
sent to Abbott that become waste in our of effluent due to future increase in
operations and develop and track supplier production volumes. This will help
waste diversion initiatives. improve the quality of treated water.
• Introduction of multidisc screw

press for sludge drying. This helps
Annual Report 2022-23

in removing water from sludge at
much faster rate and consumes 75%
less power.
• Reduction in cost of disposal of
hazardous waste by identifying
alternate authorized vendors for
co-processing.
• Collected and processed 2,000 MT
plastic packaging waste (100% of
plastic packaging).
Providing For Abbott India, increase focus on prevention • Launched 10 new products • Expansion into allied therapy area for
access and and well-being, drive personalized patient- in FY 2022-23 across various insomnia, topical pain management
availability of centric solutions for establishing and shaping therapeutic areas, Women’s Health, and entering into new therapies in
products the therapy standards of the health aware and Gastroenterology, Metabolic and Gastroenterology and Women’s Health.
digital savvy consumers. Multi-Specialty. • Continued focus on building
Continue new Product launches, Outreach • Also launched line extensions of product portfolio through lifecycle
in Tier 2 and Tier 3 geographies and 3600 current brands as a part of our management of existing brands to meet
Marketing campaigns to reach more product lifecycle management (e.g., more people’s health needs in 2024.
consumers. Brufen-P tablet and suspension for • Vaccine portfolio expansion
expansion into moderate to severe
pain and fever category). • Expansion into tier 2 and tier 3
geographies via specialized teams in
• Empowered patients to actively Gastro and Metabolics.
participate in their healthcare
decisions via tools and services such • 3600 digital marketing campaigns
as “Sleep Score” for insomnia or targeting and reaching customers in
“The Next Chapter” campaign for existing and new geographies.
menopause.
STEM By 2030, Abbott plans to create 1,00,000 In India, our STEM program currently Continue to strengthen STEM Internships
(Science, STEM opportunities globally, helping to create runs in 14 schools, impacting the lives of to achieve Abbott plans to create 1,00,000
Technology, a pipeline of talent interested in STEM careers over 4,600 children, 50% of whom are STEM opportunities globally.
Engineering to meet the growing demands for healthcare girls. We promote STEM education in
and innovation. collaboration with SMILE Foundation,
Mathematics) while simultaneously raising health
awareness to spearhead healthy living.
Our STEM internship program in India
is now in its second year.
Advance Develop differentiated solutions to alleviate • Advanced access to quality and • Refine tech based interventions to
health equity the burden of Non-Communicable Diseases affordable care across 34 districts in improve the efficacy of care delivery
through (NCDs) through community-based and 6 states. and drive higher levels of adherence to
partnership community-led models of care that treatment through Electronic Medical
• Refined tech-based care delivery
demonstrate both operational and financial Records (EMR).
for low-income communities
sustainability and scale.
to improve care delivery and • Expand access to program services
adherence to treatment. across newer geographies through
tech platforms and community health
• Supported Ayushman Bharat
workers.
Program by upgrading 37 Primary
Health Centers (PHCs) to Health & • Train more SEWA (Self-Employed
Wellness Centers (HWCs), which Women’s Association) women across
are part of the 75 PHCs that were more locations as health workers to
Company Overview
committed. strengthen and expand program’s reach.

• Supported 4,600 children from • Screen more people from low-income
underserved communities across 14 communities for non-communicable
schools in and around Mumbai with diseases and bring them into the care
interventions in STEM learning, system early.
Health Education and Sports.
• Forge new partnerships with care
providers for efficient, cost-effective
and sustained care delivery.
Statutory Reports
• Upgrade more PHCs to HWCs and

strengthen access to quality healthcare
infrastructure and services for low-
income communities.
• Strengthen PHCs with capacity
building for their staff and ASHAs who
act as a crucial linkage between physical
infrastructure and the communities
where they live.
• Sustain support to 4,600 children from
Financial Statements
underserved communities in the areas

of STEM Learning, Health Education
and Sports.
Disclaimer
The information furnished in the above Report is extracted out of system maintained by the Company and/or manually. The Company has taken certain
assumptions in the definitions/terminology to arrive at the data. The environment data pertains to the Company’s plant at Goa and Head office at BKC.
Notice
89
REPORT ON CORPORATE GOVERNANCE
COMPANY’S PHILOSOPHY ON CORPORATE GOVERNANCE There are 3 Women Directors on the Board. There is no inter se relationship between the Directors. The composition of the
At Abbott India, we are committed to strong corporate governance that is aligned with our objective of maximizing our Board of Directors, their attendance at the Board Meetings held during the year under review and at the last Annual General
stakeholders’ interests. We adhere to the highest standards of governance, integrity, ethics and transparency. Meeting along with the number of directorships and membership held in various committees in other Companies, as on the date
of this Report are given in the table below :
The Company’s Code of Business Conduct lays down values and principles that always guide our actions to live up to our best
ideals and to operate our business with the utmost integrity. We ensure that ethical conduct is embedded across our operations, Attendance at
Total No. of
and we expect all our employees and external partners to follow the same. Our policies and procedures operate alongside our Annual No. of
No. of shares Board Board Committee
Code to guide our employees as they conduct their day-to-day activities. They encompass all relevant laws, regulations and Name of the Director
Category of
held in the Meetings General Directorships
positions
Directorship Meetings in other
promotional standards. The Company’s Board and leadership teams fully abide by and support the Code, policies, procedures Company held in held in
Meeting held in other
(August Companies1
and principles it embodies. The Board maintains the high ground when it comes to compliance. 2022-23 2022-23 Companies2
10, 2022)
The Company’s philosophy on Corporate Governance is thus, concerned with the ethics, values and morals of the Company and Munir Shaikh Non-Executive NIL 5 5 Yes NIL NIL
its Directors, who are expected to act in the best interests of the Company and remain accountable to the members and other Chairman of the Board Director
beneficiaries for their actions.
Vivek V Kamath Managing Director NIL 5 5 Yes NIL NIL
BOARD OF DIRECTORS Anisha Motwani Non-Executive, NIL 5 5 Yes 9 8
At Abbott India, the Board of Directors plays an oversight role. The Board clearly understands the business dynamics and Independent
environment under which the Company operates, challenges and opportunities associated with the business operations. Director
The Board provides guidance and strategic direction to the Management in achievement of overall objectives. The Board always Sudarshan Jain Non-Executive, 250 5 5 Yes 2 1
acts in good faith, with due diligence and care and in the best interests of all stakeholders. Independent (along
Director with
Board Appointments relatives)
The Company has a comprehensive policy on nomination and appointment of Directors which lays down the characteristics, Shalini Kamath Non-Executive, NIL 5 5 Yes 3 1
qualifications and other positive attributes which are taken into consideration when selecting members for the Board of Independent
Directors. Director
The Board members should, at a minimum, have backgrounds that when combined provide a portfolio of experience and Ambati Venu Non-Executive NIL 5 5 Yes NIL NIL
knowledge that will serve Abbott’s governance and strategic needs. Board candidates are considered basis a range of criteria Director
including broad-based business knowledge and relationships, prominence and excellent reputations in their primary fields Kaiyomarz Marfatia Non-Executive NIL 5 5 Yes 1 2
of endeavor, as well as a broad business perspective and commitment to good corporate citizenship. Directors should have Director
demonstrated experience and ability that is relevant to the Board of Directors’ oversight role with respect to the Company’s
business and affairs. Rajiv Sonalker Executive Director 45 5 5 Yes NIL NIL
Whole-time Director
The Nomination and Remuneration Committee plays a constructive role in identifying Board candidates and recommending (will retire effective
their appointments to the Board. June 30, 2023)
Board Composition and Category Sabina Ewing Non-Executive NIL 5 3 Yes NIL NIL
Director (2 via video-
The Board is well-structured and has optimum combination of executive and non-executive directors. The composition of the conference)
Board of Directors of the Company is in conformity with the requirements under the Companies Act, 2013 (“the Act”) and the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, 1. Includes directorships in public, private, foreign Companies and alternate directorship. However, it does not include directorship in Companies
registered under Section 8 of the Act.
from time to time (“the SEBI Listing Regulations”).
2. Includes Memberships/Chairmanship of Audit Committee and Stakeholders Relationship Committee in listed and public limited Companies.
The Chairman of the Board is a Non-Executive Director. As on the date of this Report, the Board comprises of 9 Directors
including 2 Executive and 7 Non-Executive Directors, of which 3 are Independent. The Company notifies the BSE Limited regarding all appointments/re-appointments/cessations of Directors as required under
Regulation 30 of the SEBI Listing Regulations.
None of the Directors on the Board holds directorship in more than ten public Companies. Further, none of the Independent
Directors of the Company serve as Independent Director in more than seven listed Companies or as whole-time director in any
listed Company.
Board Meetings held during the year

During the year under review, 5 Board Meetings were held on the following dates :
May 17, 2022; August 10, 2022; November 14, 2022; February 10, 2023 and March 17, 2023. The necessary quorum was present
for all the Board Meetings. The option for attending Board/Committee Meetings via audio-visual means except for the items
which are specifically excluded for the same is provided to the Directors. The average attendance at the Meetings of Board of
Directors was 95.5%.

Report on Corporate Governance (Contd.)
BOARD SKILL/COMPETENCIES/EXPERTISE Name Skills/Competencies/Expertise/Qualifications and Other Directorships

The Board has diverse sets of competencies and expertise, ideal mix of analytical, strategic and leadership skills that is required Sudarshan Jain Mr Jain is a veteran in the healthcare business. He has rich business experience in strategic
for its oversight role, meet the governance and strategic needs. The Board constantly focuses on raising of the governance management, corporate affairs, brand building and overall business operations in healthcare
standards of the Company. Companies. His experience covers pharmaceutical, OTC, hospital, diagnostic and nutrition
businesses.
Name Skills/Competencies/Expertise/Qualifications and Other Directorships
Munir Shaikh Mr Shaikh has held several management and leadership positions in different geographies across He has played active role in shaping the healthcare policy and improving access to healthcare in
Chairman various businesses. He possesses vast knowledge of the industry and is a consummate team player India and has wide industry knowledge and extensive expertise in building market leading brands.
with an entrepreneurial flair. He has an extensive leadership and industry experience including He holds Master’s in Business Administration from the Indian Institute of Management (IIM),
a deep knowledge and understanding of the Company’s business operations, strategies and the Ahmedabad and Bachelor of Science in Physics from St. Stephens College, Delhi.
business environment in which the Company operates.
He is a Director on the Board of Healthium Medtech Limited and Sunshine Holdings PLC,
He holds expertise in the areas of general management, finance, marketing and business Sri Lanka.
development.
He is a Member of Stakeholders Relationship Committee in Healthium Medtech Limited.
He is a fellow of the Institute of Chartered Accountant in England and Wales.
Shalini Kamath Ms Kamath holds vast experience and expertise in three distinct fields-Human Resources, Business
Vivek V Kamath Mr Kamath holds rich and diversified experience in healthcare, including pharmaceuticals, OTC Development and Social and Community Development and across two continents-India and Africa.
Managing Director and diagnostics. He has held several senior leadership positions in various reputed pharmaceutical
Companies, Indian as well as MNCs, across different geographies and holds strong functional She also has extensive experience in building strong corporate brands, both externally and
expertise in the areas of strategy, marketing, sales and general management. internally and has handled tripartite partnership projects related to community-oriented income
generation programs. She is a certified and practicing “CEO and Leadership Coach’’.
Prior to joining the Company, Mr Kamath worked as the General Manager of the Specialty
Care business of Abbott Healthcare Private Limited. Prior to Abbott, he has worked with MSD She holds Master’s in Business Administration from Edinburgh Business School, UK; training
Pharmaceuticals; Roche Diagnostics, India; Novartis, Singapore; Ranbaxy; Pfizer, India; Fulford, from Harvard Business School in change and transformation; alumnus of CSC Global leadership
India; Wockhardt and Johnson & Johnson. program and a certified Zenger Folkman Leadership4you trainer and facilitator.
He holds strong business acumen and has been instrumental in building high performance She is an Independent Director on the Boards of Borosil Renewables Limited and Johnson Controls-
teams, leading organizational change and driving faster than market growth in sales, profit and Hitachi Air Conditioning India Limited and Director on the Board of Ambit Finvest Private Limited.
productivity across the various Companies he has worked with. He has an excellent track record of She is a Member of Audit Committee in Borosil Renewables Limited.
building megabrands via marketing and sales excellence, transforming operations and partnering
Ambati Venu Mr Ambati holds extensive experience in consumer goods, OTC and pharmaceutical businesses.
with alliance partners, key stakeholders, healthcare professionals as well as diverse trade channels.
Having worked in various regions, one of the strongest assets is his ability to excel within diverse
He holds a Master’s degree in Management and Bachelor of Science in Microbiology from Mumbai socio-cultural environments.
University.
He holds strong business acumen, strategic leadership, the ability honed in both developed and
Anisha Motwani Ms Motwani is a Brand and Innovation expert with varied experience in marketing across diverse emerging markets across the world.
industries. As a marketer and creator of multiple consumer-oriented strategies, she takes a very
strong interest in the topic of the Indian consumer-buying behavior, connect points, impact of He is an alumnus of the Indian Institute of Management, Ahmedabad and holds a Bachelor’s degree
the digital revolution, new segments and sub-segments etc. She has been in forefront of behavior in Engineering (Mechanical) from the University of Bhopal.
change projects such as Swachh Bharat and Clean Ganga mission. She is an active contributor to Kaiyomarz Marfatia Mr Marfatia holds strong legal acumen and immense experience in corporate compliance
various corporate and industry boards/association. functions, litigation, industrial licensing, foreign collaborations, technology transfer arrangements,
distribution arrangements and IPR matters, among others, in pharmaceutical/healthcare and
She has immense knowledge and expertise on digital marketing and brand building, corporate
engineering industries.
communications, consumer research and analytics and creative excellence.
He has played a vital role in the acquisition of various brands and businesses and handled
She holds Master’s in Business Administration and Bachelor of Science from Sophia College.
cross functional projects such as manufacturing reconfiguration/optimization and corporate
She is an Independent Director on the Boards of Welspun India Limited; Prataap Snacks Limited; restructuring.
Hindware Home Innovation Limited (erstwhile Somany Home Innovation Limited) and Star Health
He is a Law Graduate from the Government Law College.
and Allied Insurance Company Limited and a Director on the Boards of Philips Domestic Appliances
India Limited; Nuvama Wealth Management Limited (erstwhile Edelweiss Securities Limited); He is an Independent Director on the Board of SNL Bearings Limited.
Nuvama Wealth Finance Limited (erstwhile Edelweiss Finance and Investments Limited); Godrej
He is a Member of Audit Committee and Chairman of Stakeholders Relationship Committee in SNL
Finance Limited and Dvara Kshetriya Gramin Financial Services Private Limited.
Bearings Limited.
She is a Member of Audit Committee in Welspun India Limited, Prataap Snacks Limited, Hindware
Home Innovation Limited (erstwhile Somany Home Innovation Limited); Star Health and Allied
Insurance Company Limited; Nuvama Wealth Finance Limited (erstwhile Edelweiss Finance and
Investments Limited) and Philips Domestic Appliances India Limited, Member of Stakeholders
Relationship Committee in Nuvama Wealth Finance Limited (erstwhile Edelweiss Finance and
Investments Limited) and Chairperson of Audit Committee in Godrej Finance Limited.

Name Skills/Competencies/Expertise/Qualifications and Other Directorships FAMILIARIZATION PROGRAMS FOR INDEPENDENT per annum and additional ` 0.05 Crores per annum to the
DIRECTORS Board Chairman, in proportion to the Board Meetings
Rajiv Sonalker Mr Sonalker has extensive financial experience in the pharmaceutical, FMCG and engineering
(will retire effective industries in India and Europe. As a part of induction and continuing education program for attended by them during the year.
June 30, 2023) Independent Directors, the Managing Director/Commercial Besides payment of commission, sitting fees and dividend
Besides in-depth knowledge about the Company, he has strong technical and analytical skills and
Directors/Function Heads make periodic presentations at the on equity shares held by the Directors, if any, none of the
expertise for leading the Corporate Finance function, including Risk and Internal Control. He has
Board/Committee Meetings to apprise the Directors of the Non-Executive Directors had any pecuniary relationship or
played a crucial role in several projects such as the merger, acquisitions, integration and corporate
Company’s business strategies, long-term plans, operations transactions with the Company.
restructuring. He has been instrumental in driving many automation and digitization projects
critical for the Company. and performance, relevant legal/regulatory updates in the
laws and regulations applicable to the Company. In addition, Executive Directors
He is a fellow Member of the Institute of Chartered Accountants of India. these presentations also provide insights into various The Executive Directors are paid remuneration in accordance
Sabina Ewing Ms Ewing is a passionate, transformational global technology leader. She is a champion for delivering growth opportunities for the Company, operational and with the limits prescribed under the Act and the Remuneration
21st century Information Technology organizations that move beyond the back office to Information environmental challenges associated with the Company’s Policy of the Company. Such remuneration is considered and
Technology as a strategic enabler of top-line and bottom-line results. Currently, Ms Ewing is acting business operations, products, management’s risk mitigation approved by the Nomination and Remuneration Committee,
as a Global CIO, Vice President-Business and Technology Services for Abbott Laboratories, USA. plans, human resources, cyber security and CSR updates, etc. the Board of Directors and the Shareholders of the Company.
Prior to that, she served as the Global Head-Business Technology for Pfizer Upjohn Headquartered
in Shanghai, China. She has also served as Vice President for corporate functions and business Regular briefs are provided to the Directors on the Company’s Details of remuneration paid to the Executive Directors for
services BT, supporting Pfizer’s human resources, legal, corporate affairs, corporate compliance and business operations, policies and procedures, distribution the financial year 2022-23 are as follows :
corporate aviation divisions, as well as the enterprise-wide Global Support Services Organization. channels, business model, cash and treasury management, (` in Crores)
accounting systems and internal financial controls, etc. Vivek V Kamath Rajiv Sonalker
She holds Bachelor of Science in Commerce (with concentrations in Management Information
Annual interactive strategy sessions are arranged with the Terms of Agreement Managing CFO and Whole-time
Systems and Finance) from the University of Virginia and a Master of Science in Systems and
Management from New York University. Senior Management and Functional heads often combined Director Director
with plant visits. Period of appointment 5 years 2 years
Details of the programs conducted by the Company for the Date of appointment February 15, August 8,
Tenure of Directorships (ii) Based on the declarations received from the Independent financial year 2022-23 and participation of independent 2022 2017*
Managing Director/Executive Directors are appointed for Directors, the Board of Directors and the Nomination Salary and Other 3.15 2.22
directors are available on the website of the Company at
such tenure as prescribed under the Act and in accordance and Remuneration Committee have confirmed that they Allowances
https://www.abbott.co.in/investor-relations.html.
meet the criteria of independence as mentioned under
with the terms of their contract of service with the Company. Perquisites 1.85 0.63
Section 149(6) of the Act and Regulation 16(1)(b) of the
Non-Executive Directors (other than the Independent SEBI Listing Regulations and that they are independent
REMUNERATION OF DIRECTORS Contribution to 0.17 0.13
Directors) are subject to retirement by rotation as per the of the management. Further, the Independent Provident Fund
Non-Executive Directors
provisions of the Act. One-third of total number of such Directors have included their names in the data bank Performance Linked 1.26 0.71
Criteria for payment of sitting fees to Non-Executive Directors
Directors who are liable to retire by rotation, retire at each of Independent Directors maintained with the Indian Incentive
are set out in the Remuneration Policy which is available on
Annual General Meeting and are eligible for re-appointment. Institute of Corporate Affairs in terms of Section 150 of Notice Period Three Months
the Act read with Rule 6 of the Companies (Appointment the website of the Company.
Independent Directors are appointed for a term upto five Severance Fees There is no separate provision for
and Qualification of Directors) Rules, 2014. The Non-Executive Directors of the Company are paid
consecutive years. They are eligible for re-appointment for payment of severance fees.
another term upto five consecutive years on passing of a remuneration by way of sitting fees and commission.
Meeting of Independent Directors Stock Option# NIL
special resolution by the Company. The details of sitting fees paid to Non-Executive Directors
Meeting of Independent Directors was held on August 9, for the financial year 2022-23 is given below : * Initial date of appointment.
Details of the Directors seeking re-appointment at the 2022, in compliance with the requirements of the Act, Rules #
The Company does not have any Stock Option Plan for its employees.
forthcoming Annual General Meeting as required under framed thereunder and Regulation 25(3) of the SEBI Listing (` in Crores) However, above Executive Directors are entitled to Stock Option of Abbott
Regulations. The said Meeting was attended by all the Sr. No. Name of the Director Sitting Fees Laboratories, USA under its “Incentive Stock Option Program” and is also
Regulation 36(3) of the SEBI Listing Regulations and
eligible to purchase shares of Abbott Laboratories, USA, under its “Affiliate
Secretarial Standards issued by the Institute of Company Independent Directors. Ms Shalini Kamath acted as the Lead 1. Munir Shaikh 0.11 Employee Stock Purchase Plan”, the perquisite value of which is included
Secretaries of India are annexed to the Notice convening the Independent Director for the said Meeting. 2. Anisha Motwani 0.15 above.
Annual General Meeting, which forms part of the Annual The Independent Directors at their Meeting inter alia, 3. Sudarshan Jain 0.13 The amount of performance bonus/commission payable to
Report. reviewed the performance of Non-Independent Directors 4. Shalini Kamath 0.15 the Managing Director/Whole-time Director is calculated
and the Board of Directors as a whole and the performance of basis the performance of the Company in general and the
INDEPENDENT DIRECTORS the Chairman, considering the views of Executive Directors 5. Kaiyomarz Marfatia 0.08
individual’s performance for the relevant financial year
(i) In terms of Regulation 25(8) of the SEBI Listing and Non-Executive Directors. They also assessed the quality, As per the approval granted by the Shareholders dated measured against specific key result areas, which are aligned
Regulations, Independent Directors have confirmed quantity and timelines of flow of information between the November 12, 2022 from the financial year 2022-23, the Non- to the Company’s objectives and policies. The same is
that they are not aware of any circumstance or situation Management and the Board of Directors that helps the Board Executive Directors (other than Non-Executive Directors of considered and approved by the Board based on the
which exists or may be reasonably anticipated that could in effective decision making and provided valuable feedback the Company, who are in full time employment with Abbott recommendation of the Nomination and Remuneration
impair or impact their ability to discharge their duties. and inputs. Group Companies) are entitled for Commission of ` 0.15 Crores Committee in alignment with the Company policies.

The Company has entered into Agreements with Mr Vivek Role : • reviewing the findings of any internal investigations Meetings :
V Kamath, Managing Director for a period of 5 years from The role of the Committee includes : by the internal auditors into matters where there is During the year under review, the Committee met 3 times on
February 15, 2022 to February 14, 2027 and Mr Rajiv Sonalker, suspected fraud or irregularity or a failure of internal the following dates :
• oversight of the Company’s financial reporting process control systems of a material nature and reporting the
Whole-time Director for his re-appointment for a period of
and the disclosure of its financial information to ensure matter to the Board; May 17, 2022; August 9, 2022 and March 17, 2023.
2 years from July 1, 2021 to June 30, 2023.
that the financial statements are correct, sufficient and
• discussion with statutory auditors before the audit The necessary quorum was present for all the Committee
credible;
AUDIT COMMITTEE commences, about the nature and scope of audit as well Meetings.
• recommendation for appointment, remuneration and
The composition, role, terms of reference as well as powers of as post-audit discussion to ascertain any areas of concern; Mr Sudarshan Jain, Chairman of the Committee attended
terms of appointment of auditors of the Company;
the Audit Committee are in compliance with the provisions of • to look into the reasons for substantial defaults in the the Annual General Meeting of the Company held on
Section 177 of the Act and Regulation 18 of the SEBI Listing • approval of payment to statutory auditors for any other August 10, 2022, to answer the Shareholders’ queries in
services rendered by them; payment to the depositors, debenture holders, members
Regulations. All the Members of the Audit Committee are compliance with the requirements of Regulation 19(3) of the
(in case of non-payment of declared dividends) and
financially literate. • reviewing with the management, the annual financial SEBI Listing Regulations.
creditors;
statements and auditor’s report thereon before
Composition : submission to the Board for approval, with particular • approval of appointment of Chief Financial Officer after Role :
reference to : assessing the qualifications, experience and background, The role of the Committee in relation to Nomination matters
The Committee comprises of 4 Members of which, 3 are
etc, of the candidate; include :
Independent Directors and 1 Non-Executive Director as on a) matters required to be included in the Directors’
the date of this Report. Responsibility Statement to be included in the • reviewing the functioning of the Vigil Mechanism/ • formulating criteria for identifying suitable candidates
Board’s Report in terms of clause (c) of sub-section 3 Whistle-Blower Mechanism; for Directors and Senior Management;
The composition of the Audit Committee, category of its of Section 134 of the Act;
• carrying out any other functions as may be prescribed • identify persons who are qualified to become Directors
Members, their attendance at the Committee Meetings held
b) changes, if any, in accounting policies and practices under the Act, Rules framed thereunder and Regulation and appointed as the Senior Management in accordance
during the year under review is given below : with criteria laid down and recommend to the Board
and reasons for the same; 18 of the SEBI Listing Regulations or as may be delegated
No. of Meetings 2022-23 by the Board, from time to time. their appointment and removal;
Name of the Member Category
c) major accounting entries involving estimates based
Held Attended on the exercise of judgment by management; • formulating the criteria for determining the qualifications,
The Committee also reviews various information prescribed
positive attributes and independence of a Director;
Anisha Motwani Independent 4 4 d) significant adjustments made in the financial under Part C of Schedule II as referred in Regulation 18(3) of
Chairperson Director statements arising out of audit findings; the SEBI Listing Regulations. • devising policy on the diversity of the Board;
Munir Shaikh Non-Executive 4 4 e) compliance with listing and other legal • ensuring that there is an appropriate induction program
Director requirements relating to the financial statements; NOMINATION AND REMUNERATION COMMITTEE in place for new Directors and reviewing its effectiveness.
Sudarshan Jain Independent 4 4 f) disclosure of any related party transactions; The composition, role, terms of reference as well as powers • formulating the criteria for evaluation of performance
Director of the Nomination and Remuneration Committee are in of Board, its Committees and individual Directors and
g) modified opinion(s) in the draft audit report. compliance with the provisions of Section 178 of the Act and review its implementation and compliance and whether
Shalini Kamath Independent 4 4
Director • reviewing with the management, the quarterly financial Regulation 19 of the SEBI Listing Regulations. to extend or continue the term of appointment of the
statements before submission to the Board for approval; Independent Director on the basis of such assessment;
Ms Krupa Anandpara, Company Secretary is the Secretary of Composition :
the Committee. • reviewing and monitoring the auditor’s independence • to consider any other matters as may be delegated by the
and performance and effectiveness of audit process; The Committee comprises of 3 Members, of which 2 are Board.
Independent Directors and 1 Non-Executive Director as on
Meetings : • approval or any subsequent modification of transactions the date of this Report. The role of the Committee in relation to Remuneration matters
During the year under review, the Committee met 4 times on of the Company with related parties; include :
the following dates : • scrutiny of inter-corporate loans and investments; The composition of the Nomination and Remuneration
• recommend to the Board a policy, relating to the
Committee, category of its Members and their attendance at
May 17, 2022; August 10, 2022; November 14, 2022 and • valuation of undertakings or assets of the Company, remuneration for the Directors, Key Managerial
the Committee Meetings held during the year under review
wherever it is necessary; Personnel and other employees. The Committee shall,
February 10, 2023. is given below : while formulating the policy ensure that :
The necessary quorum was present for all the Committee • evaluation of internal financial controls and risk
management systems; No. of Meetings 2022-23 - the level and composition of remuneration is
Meetings. Name of the Member Category
reasonable and sufficient to attract, retain and
• reviewing with the management, performance of Held Attended
Meetings of Audit Committee are also attended by the motivate Directors of the quality, required to run
statutory and internal auditors, adequacy of the internal Sudarshan Jain Independent 3 3 the Company successfully;
Managing Director, Non-Executive Directors, Chief Financial control systems; Chairman Director
Officer, Statutory Auditors and the Internal Auditors as - relationship of remuneration to performance is clear
• reviewing the adequacy of internal audit function, if any, Ambati Venu Non-Executive 3 3
invitees. The Cost Auditors attend the Audit Committee and meets appropriate performance benchmarks;
including the structure of the internal audit department, Director
Meeting where Cost Audit Report is discussed and approved. staffing and seniority of the official heading the - remuneration to Directors, Key Managerial
Anisha Motwani Independent 3 3
Ms Anisha Motwani, Chairperson of the Audit Committee department, reporting structure, coverage and frequency Director Personnel and Senior Management involves a
attended the Annual General Meeting of the Company held of internal audit; balance between fixed and incentive pay reflecting
on August 10, 2022, in compliance with the requirements of Ms Krupa Anandpara, Company Secretary, is the Secretary of short and long-term performance objectives
• discussion with internal auditors of any significant
the Committee. appropriate to the working of the Company and its
Regulation 18(1)(d) of the SEBI Listing Regulations. findings and follow up thereon;
goals.

• recommend to the Board all remuneration, in whatever Role : The composition of the CSR Committee, category of its RISK MANAGEMENT COMMITTEE
form, payable to the Senior Management; Members and their attendance at the Committee Meetings The composition, role, terms of reference as well as powers
The role of the Committee includes :
held during the year under review is given below : of Risk Management Committee are in compliance with the
• to consider any other matters as may be delegated by the
• resolving the grievances of the shareholders including provisions of Regulation 21 of the SEBI Listing Regulations.
Board. No. of Meetings 2022-23
complaints related to transfer/transmission of shares, Name of the Member Category
non-receipt of annual report, non-receipt of declared Held Attended Composition :
Performance Evaluation Criteria of Independent
dividends, issue of new/duplicate certificates, general Munir Shaikh Non-Executive 4 4 The Committee comprises of 2 Independent Directors, 1 Non-
Directors
meetings, etc; Chairman Director Executive Director and 2 Executive Directors as on the date
In terms of the requirements of the Act and Rules made Vivek V Kamath Managing 4 4
thereunder, evaluation of Independent Directors is done of this Report.
• review of measures taken for effective exercise of voting Director
by the entire Board of Directors (except the Director whose rights by the shareholders; The composition of the Risk Management Committee,
Anisha Motwani Independent 4 4
evaluation is being done) basis the criteria set by the category of its Members, their attendance at the Committee
• review of adherence to the service standards adopted Director
Nomination and Remuneration Committee. The Board also Meetings held during the year under review is given below :
by the Company in respect of various services being Shalini Kamath Independent 4 4
evaluates if the Independent Directors fulfill the criteria
rendered by the Registrar and Share Transfer Agent; Director No. of Meetings 2022-23
of independence as laid down in the Act, Rules framed Name of the Member Category
Rajiv Sonalker Whole-time 4 4 Held Attended
thereunder and the SEBI Listing Regulations.
• review of the various measures and initiatives taken by Director Vivek V Kamath Managing 3 3
Criteria for evaluation and detailed mechanism adopted for the Company for reducing the quantum of unclaimed Chairman Director
Ms Krupa Anandpara, Company Secretary, is the Secretary of
evaluation of Directors are provided in the Board’s Report. dividends and ensuring timely receipt of dividend Sudarshan Jain Independent 3 3
the Committee.
warrants/annual reports/statutory notices by the Director
STAKEHOLDERS RELATIONSHIP COMMITTEE shareholders of the Company. Meetings : Shalini Kamath Independent 3 3
The composition, role, terms of reference as well as powers of During the year under review, the Committee met 4 times on Director
A summary of grievances received and resolved by the
the Stakeholders Relationship Committee are in compliance the following dates : Kaiyomarz Non-Executive 3 3
Company to the satisfaction of the shareholders/investors
with the provisions of Section 178 of the Act and Regulation 20 Marfatia Director
of the SEBI Listing Regulations. during the year under review, is given below : May 17, 2022; August 9, 2022; November 14, 2022 and
Rajiv Sonalker Whole-time 3 3
February 10, 2023.
No. of Director
Composition : Particulars
Grievances The necessary quorum was present for all the Committee
Meetings. Ms Krupa Anandpara, Company Secretary, is the Secretary of
The Committee comprises of 4 Members, of which 2 are Pending at the beginning of the year NIL the Committee.
Independent Directors; 1 Non-Executive Director and
1 Executive Director as on the date of this Report.
Received during the year 18# Role :
Resolved during the year 18# Meetings :
The role of the Committee includes :
The composition of the Stakeholders Relationship Committee, During the year under review, the Committee met 3 times on
Pending at the end of the year NIL • formulate and recommend for the acceptance of the
category of its Members and their attendance at the Committee the following dates :
Meetings held during the year under review is given below : #
pertains 9 letters received from BSE Limited, 8 letters from Securities and Board, the Corporate Social Responsibility Policy (“CSR
Exchange Board of India (SEBI-SCORES) and 1 letter from the Registrar of Policy”) inter alia, to include the CSR activities, specify May 17, 2022; November 9, 2022 and February 10, 2023.
No. of Meetings 2022-23 Companies/Ministry of Corporate Affairs. the modalities of execution, implementation schedules
Name of the Member Category
Held Attended and recommend the same to the Board of Directors; The necessary quorum was present for all the Committee
These investor grievances mainly pertained to Duplicate Meetings.
Kaiyomarz Marfatia Non-Executive 2 2 • identify the CSR projects/activities/programs to be
Share Certificate; Transmission of Shares/Deletion of name;
Chairman Director undertaken by the Company (“CSR activities”), in Role :
Non-receipt of Dividend; KYC updation; Deduction of TDS on
Vivek V Kamath Managing 2 2 alignment with Company’s CSR Policy and Schedule VII
payment of Dividend; Exchange of Share Certificate; Demat of The role of the Committee includes :
Director of the Act;
Shares and IEPF Claim. All the grievances were resolved upto • to formulate a detailed Risk Management policy which
Anisha Motwani Independent 2 2 • review best practices in the key CSR areas by appropriate
Director the satisfaction of shareholders. shall include :
internal/external analysis;
Shalini Kamath Independent 2 2 (a) a framework for identification of internal and
Director CORPORATE SOCIAL RESPONSIBILITY (“CSR”) • recommend the amount of expenditure to be incurred on
the CSR activities, for each financial year of the Company; external risks specifically faced by the listed entity,
COMMITTEE
Ms Krupa Anandpara, Company Secretary, is the Secretary in particular including financial, operational,
The composition, role, terms of reference as well as powers • devise suitable transparent monitoring mechanism for
of the Committee. She also acts as the Compliance and Nodal sectoral, sustainability (particularly, ESG related
of the Corporate Social Responsibility Committee are in monitoring progress/status of implementation of the CSR
Officer of the Company. risks) information, cyber security risks or any other
compliance with the requirements of Section 135 of the Act activities;
risk as may be determined by the Committee;
Meetings : and Companies (Corporate Social Responsibility Policy) • receive reports and review activities from executive and
specialist groups managing CSR activities; (b) measures for risk mitigation including systems and
During the year under review, the Committee met twice on Rules, 2014.
processes for internal control of identified risks;
the following dates : • monitor CSR Policy from time to time and revise the
Composition : same as and when needed; (c) business continuity plan.
May 17, 2022 and August 9, 2022. The Committee comprises of 5 Members of which 2 are • carry out such other functions, as may be prescribed by • to ensure that appropriate methodology, processes
The necessary quorum was present for all the Committee Independent Directors, 1 Non-Executive Director and the Act or CSR Rules or as may be delegated by the Board, and systems are in place to monitor and evaluate risks
Meetings. 2 Executive Directors, as on the date of this Report. from time to time. associated with the business of the Company;

• to monitor and oversee implementation of the risk • to keep the Board of Directors informed about the nature PROCEDURE ADOPTED FOR POSTAL BALLOT published from Mumbai. The quarterly results/
management policy, including evaluating the adequacy and content of its discussions, recommendations and The Postal Ballot was conducted in compliance with shareholding pattern/notice of Board Meetings are
of risk management systems; actions to be taken; Section 108 and 110 of the Act, read with Rule 20 and 22 of made available on the website of the Company at
• any other role as may be delegated by the Board from the Companies (Management and Administration) Rules, https://www.abbott.co.in/investor-relations.html and
• to periodically review the risk management policy, at
time to time or which may be prescribed under the Act or 2014 and Regulation 44 of the SEBI Listing Regulations on the website of BSE Limited.
least once in two years, including by considering the and in accordance with the guidelines prescribed by the
the SEBI Listing Regulations or by amendments thereof.
changing industry dynamics and evolving complexity; Ministry of Corporate Affairs for holding General Meetings/ ii) During the year under review, the Company had met
The Risk Management Committee shall coordinate its institutional investors once on September 28, 2022.
• the appointment, removal and terms of remuneration of conducting Postal Ballot process, vide General Circulars
activities with other Committees, in instances where there
Nos. 14/2020 dated April 8, 2020, 17/2020 dated April 13, 2020, No presentation was made during the Meeting.
the Chief Risk Officer (if any) shall be subject to review is any overlap with activities of such Committees, as per the
22/2020 dated June 15, 2020, 33/2020 dated September 28, The transcript and video recording of the Meeting is
by the Risk Management Committee; framework laid down by the Board of Directors.
2020, 39/2020 dated December 31, 2020, 10/2021 dated June available on the website of the Company at https://www.
ANNUAL GENERAL MEETINGS 23, 2021, 20/2021 dated December 8, 2021 and 3/2022 dated abbott.co.in/investor-relations.html.
May 5, 2022.
Financial Year Date Time Location No. of Special Resolutions
GENERAL SHAREHOLDER INFORMATION
2021-22 August 10, 9.30 Via Video-Conferencing Re-appointment of Mr Munir Shaikh (DIN : 00096273), who has CODE OF BUSINESS CONDUCT
2022 a.m. (VC)/Other Audio- attained the age of Seventy-five years, as Director, liable to retire Code of Business Conduct for Board of Directors and Senior i) Annual General Meeting
Visual Means (OAVM) by rotation. Management (“Code”) lays down various principles of Wednesday, August 9, 2023, through Video-Conferencing
2020-21 July 27, 9.30 Via Video-Conferencing Re-appointment of Ms Anisha Motwani (DIN : 06943493) as ethics and compliance. The Code has been posted on the (VC)/Other Audio-Visual Means (OAVM)
2021 a.m. (VC)/Other Audio- an Independent Director for a term of 5 (five) years effective Company’s website at https://www.abbott.co.in/investor-
Visual Means (OAVM) April 25, 2021, not liable to retire by rotation. relations.html. ii) Financial year
2019-20 September 9.00 Via Video-Conferencing i. Re-appointment of Mr Munir Shaikh (DIN : 00096273), who All the Directors and Senior Management have confirmed the April 1, 2022 to March 31, 2023
7, 2020 a.m. (VC)/Other Audio- has attained the age of Seventy-five years, as Director, liable compliance of the Code of Business Conduct. The Certificate
Visual Means (OAVM) to retire by rotation. iii) E-Voting Period
issued by Mr Vivek V Kamath, Managing Director to this
ii. Approval for acquiring and holding equity shares of the effect forms part of this report. From 9.00 a.m. (IST) on Sunday, August 6, 2023
Company, by the Foreign Institutional Investors/Foreign
CODE OF FAIR DISCLOSURE Upto 5.00 p.m. (IST) on Tuesday, August 8, 2023
Portfolio Investors/Non-Resident Indians under the
portfolio scheme upto 5% of the total paid up share capital The Company has in line with the requirements of the iv) Dividend Payment Date
of the Company, provided that the composite cap for total Securities and Exchange Board of India (Prohibition of
foreign investment from all sources (including investments Insider Trading) Regulations, 2015, as amended from time to On and after August 16, 2023
received under the Portfolio Investment Scheme, Foreign time, adopted the Code of Fair Disclosure i.e., Code of Internal
Venture Capital Investors (FVCIs), Foreign Direct Procedures and Conduct for Regulating, Monitoring and v) Listing on Stock Exchange
Investment (FDI) and Indirect Foreign Investment etc., Reporting of Trading by Insiders. The same has been posted BSE Limited
shall not exceed 80% of the total paid up share capital of the on the Company’s website at https://www.abbott.co.in/ Phiroze Jeejeebhoy Towers
Company, on a fully diluted basis. investor-relations.html. Dalal Street, Mumbai – 400 001
Telephone No. : +91-22-2272 1233/4, +91-22-6654 5695
All the resolutions set out in the Notices of the Meetings, as aforesaid, were duly passed with requisite majority by the Members. VIGIL MECHANISM/WHISTLE-BLOWER POLICY Fax : +91-22-2272 1919
The Company has in place the Vigil Mechanism/Whistle- Website : www.bseindia.com
POSTAL BALLOT Blower Policy called “Abbott India Limited-Procedure for E-mail : corp.relations@bseindia.com
During the year 2022-23, following resolutions were passed by the Company through Postal Ballot : Internal Investigations” in terms of the requirements of the
Act and Regulation 22 of the SEBI Listing Regulations. vi) The annual listing fees for the financial year 2022-23 was
Voting Pattern Adequate safeguards are provided against victimization of paid to the BSE Limited as per Regulation 14 of the SEBI
Sr. Type of
Particulars % of votes in favor % of votes against director(s) or employee(s) or any other person who raises Listing Regulations.
No. Resolution
of the resolution the resolution concerns using such mechanism. No employee has been vii) International Securities Identification Number
1. Special Re-appointment of Ms Shalini Kamath (DIN : 06993314) as an 98.20% 1.80% denied access to the Audit Committee. (ISIN)
Independent Director for a period of 5 (five) years effective
October 29, 2022. MEANS OF COMMUNICATION INE358A01014
2. Ordinary Payment of Commission of ` 0.15 Crores p.a. to the Non-Executive 100% - i) The quarterly, half-yearly and annual results are
published in English daily newspaper (Business viii)Stock Code (BSE)
Directors of the Company (who are not in full time employment with
Abbott Group Companies) and additional ` 0.05 Crores p.a. to the Board Standard-Pan India) and Marathi newspaper (Loksatta) 500488
Chairman.

ix) Market Price Data (High/Low) on BSE E-mail : einward.ris@kfintech.com xiv) Distribution of Shareholding as on March 31, 2023
(`) Website : https://www.kfintech.com
Distribution No. of Shareholders % to Total No. of Shares held % to Total
https://ris.kfintech.com
Month High Low Investor Support Center : https://ris.kfintech.com/clientservices/isc/ (1) (2) (3) (4) (5)
April, 2022 18,401.65 16,785.20 Up to 500 70,885 98.33 16,69,935 7.86
Details of various centers of KFin are available on 501 to 1,000 658 0.91 4,76,267 2.24
May, 2022 18,298.95 16,156.00
www.kfintech.com 1,001 to 2,000 316 0.44 4,46,576 2.10
June, 2022 19,119.55 17,541.20
2,001 to 3,000 93 0.13 2,22,773 1.05
July, 2022 20,168.00 18,484.05 xii) Share Transfer System 3,001 to 4,000 40 0.06 1,39,966 0.66
August, 2022 20,895.00 18,237.85 Share Transfer Committee comprising of the Directors 4,001 to 5,000 21 0.03 94,164 0.44
September, 2022 19,285.00 17,349.05 and officials of the Company to attend to the share 5,001 to 10,000 29 0.04 1,99,354 0.94
transfer formalities at least once in a fortnight. Above 10,000 44 0.06 1,80,00,267 84.71
October, 2022 19,467.25 17,800.25
The Committee also considers requests received for Total 72,086 100.00 2,12,49,302 100.00
November, 2022 20,347.20 19,145.10 duplicate, split/consolidation, dematerialization and
December, 2022 22,170.00 19,953.60 transmission of shares.
xv) In terms of requirements of Regulation 39(4) and The details of shares so transferred is available on
January, 2023 22,481.80 20,763.35 All the requests received as specified above, are normally Schedule VI of the SEBI Listing Regulations, shares the Company’s website under the Investor Section at
February, 2023 21,531.50 19,900.00 processed as per the prescribed timelines upon receipt of which remained unclaimed in the custody of the https://www.abbott.co.in/investor-relations.html.
March, 2023 22,160.25 19,908.65 complete set of documents. Company are required to be transferred to the Unclamied
The Members whose shares/unclaimed dividends, etc.
Suspense Account opened by the Company.
x) erformance in comparison to broad based
P xiii) Shareholding Pattern as on March 31, 2023 have been transferred to IEPF may claim the shares
indices Accordingly, details of the unclaimed shares lying in the by making an application to IEPF Authority in Form
Category of Shareholders No. of Shares % to Total
Company’s Unclaimed Suspense Account are as follows : IEPF-5 (available on www.iepf.gov.in) along with
April 1, 2022 to March 31, 2023, Normalized (100) Promoters 1,59,34,048 74.99 requisite fee as decided by the Authority from time to
Abbo� Stock Price Sensex Healthcare Index
Banks 4,819 0.02 Particular
No. of
No. of Shares time. The Member can file only one consolidated claim in
Foreign Portfolio 40,679 0.19 Shareholders
140 a financial year as per the IEPF Rules and amendments
Corporation No. of shares as on 34 3,961 thereto.
Alternative Investment 26,427 0.12 April 1, 2022
Fund During the year, the Company has transferred 2,842
110 No. of shares claimed (1) (3) Equity Shares held by 28 Members to the IEPF Authority
General Insurance 40,403 0.19 and transferred from
Corporation of India in September 2022, details of which are given below :
the Unclaimed Suspense
80 Mutual Funds 14,61,254 6.88 Account during the year No. of
Particular No. of Shares
Qualified Institutional 2,98,222 1.41 No. of shares transferred - - Shareholders
Buyer No. of shares in IEPF 680 1,02,590
to Investor Education and
50 Domestic Companies 1,49,366 0.70 Protection Fund (IEPF) Account as on April 1, 2022
04/22 05/22 06/22 07/22 08/22 09/22 10/22 11/22 12/22 01/23 02/23 03/23
Resident Indians 30,65,805 14.43 No. of shares transferred to 28 2,842
No. of shares as on 33 3,958
Non-Resident Indians 1,21,313 0.57 IEPF Account during the
xi) Registrar and Share Transfer Agent March 31, 2023
Directors 95 0.00 year 2022-23
KFin Technologies Limited Directors Relatives 200 0.00 All benefits accruing on such shares shall be credited to No. of shares claimed (24) (7,383)
(formerly KFin Technologies Private Limited) Unclaimed Suspense Account for a period of seven years. and transferred to the
Unclaimed Suspense 3,958 0.02
Account Thereafter, the said shares including all benefits accrued Shareholders from IEPF
Selenium Building, Tower B, 6/8, Ground Floor,
Plot No. 31-32, Financial Crossley House, Investor Education and 98,049 0.46 thereon shall be transferred by the Company to the Account during the year
District, Nanakramguda, Near BSE Limited, Protection Fund (IEPF) IEPF Authority in accordance with provisions of 2022-23
Serilingampally, Next to Union Bank, Authority Section 124(5) and (6) of the Act and Rules framed No. of shares in IEPF 684 98,049
Hyderabad - 500 032 Opposite to J&K Bank, thereunder. Account as on March 31,
Tel No. : +91-40-6716 2222; Fort, Mumbai - 400 001 Others 4,664 0.02
Toll Free No. : 1800 309 4001 Total 2,12,49,302 100.00 xvi) In terms of requirements of Section 124(6) of the Act 2023
read with the Investor Education and Protection Fund xvii) Pursuant to the Act read with IEPF Rules, dividend, if
Authority (Accounting, Audit, Transfer and Refund) not claimed for a period of 7 (seven) years from the date of
Rules, 2016 (“IEPF Rules”), all shares in respect of which transfer to Unpaid Dividend Account of the Company, are
dividend has not been paid or claimed for 7 (seven) liable to be transferred to IEPF. During the financial year
consecutive years or more are required to be transferred 2022-23, the Company has transferred to IEPF unpaid
to the Investor Education and Protection Fund Authority dividend amounting to ` 44,99,588/- pertaining to the
(“IEPF Authority”). year 2014-15.

xviii)The Company has appointed a Nodal Officer under the KFin Technologies Limited c) Policies on dealing with Related Party Transactions i) There has been no instance of any non-compliance of
provisions of IEPF. Details of the Nodal Officer for the (formerly KFin Technologies Private Limited) and Materiality and on Determination of Materiality of any requirement of Corporate Governance Report of
purpose of co-ordination with the IEPF Authority are Unit : Abbott India Limited Event or Information for Disclosure are disclosed on the Schedule V of the SEBI Listing Regulations.
available on the website of the Company at https://www. Selenium Building, Tower B, 6/8, Ground Floor, Crossley website of the Company at https://www.abbott.co.in/ j) The Company does not deal in commodity(ies) and
abbott.co.in/investor-relations.html. Plot No. 31-32, Financial District, House, Near BSE Limited, investor-relations.html. hence disclosure relating to commodity price risks and
Nanakramguda, Next to Union Bank, The details of transactions entered into with Related commodity hedging activities does not apply.
xix) Dematerialization of Shares as on March 31,
Serilingampally, Opposite to J&K Bank, Parties is disclosed in Note 38 of the Financial
2023 and liquidity Hyderabad – 500 032 Fort, Mumbai - 400 001
k) The Company has not raised any funds through
Statements. Preferential Allotment or Qualified Institutional
The shares of the Company are compulsorily traded in Tel No. : +91-40-6716 2222;
Toll Free No. : 1800 309 4001 d) Details of instances of non-compliance by the Company, Placement during the financial year ended March 31,
electronic mode and are available for trading with both 2023.
penalties/strictures imposed on the Company by the
the Depositories in India namely, National Securities E-mail : einward.ris@kfintech.com
Website : https://www.kfintech.com Stock Exchange or the Securities and Exchange Board of l) The Company has not obtained any Credit Ratings
Depository Limited (NSDL) and Central Depository
https://ris.kfintech.com India or any Statutory Authority on any matters related during the year.
Services (India) Limited (CDSL).
Investor Support Center : https://ris.kfintech.com/clientservices/isc/ to the capital markets during the last three years :
m) The Company has complied with all the mandatory
2,10,05,394 Equity Shares representing 98.85% of the
The Company had received post-facto approval from requirements of the SEBI Listing Regulations.
Company’s total paid-up share capital were held in
KPRISM-Digital application by KFin the Department of Pharmaceuticals permitting the
dematerialized mode, as on March 31, 2023. n) During the financial year, there was no instance where
KFin Technologies Limited (KFin) has launched a mobile increase in foreign shareholding in excess of 75.11% from
the Board has not accepted any recommendation of any
xx) The Company has not issued any GDR/ADR or application-KPRISM and a website https://kprism.kfintech. October 19, 2012 to January 14, 2021, which was subject Committees of the Board.
Warrants or any other convertible instruments com/signin.aspx for online service. The mobile application to compounding with the Reserve Bank of India for
the contravention of applicable rules under the Foreign o) Total fees paid to the Statutory Auditors and all the
xxi) Foreign exchange risk and hedging activities can be downloaded from https://kprism.kfintech.com/app/.
Exchange Management Act, 2000. The Company is entities in their network firm/network entities for all
The Members are required to complete one time registration taking steps with the Reserve Bank of India in this the services rendered by them during the financial year
The Company has foreign exchange exposure and
for availing various services viz., view of consolidated regard. The Company has filed the compounding 2022-23 is ` 2.26 Crores including all the taxes, as may be
hedging is done for a significant portion of the same.
portfolio service by KFin, dividend status, requests for change application with the Reserve Bank of India and taking applicable.
xxii) Plant Location of address, change/update bank mandate. The Members can adequate steps in this regard. p) During the year, 1 complaint was received under the
also download Annual Reports, standard forms and keep track Sexual Harassment of Women at Workplace (Prevention,
L-18/19, Verna Industrial Estate, Goa e) In the preparation of Financial Statements, no
of upcoming General Meetings and dividend disbursements. Prohibition and Redressal) Act, 2013 and the same was
xxiii)
Address for correspondence/E-mail ID for The said application can alternatively be downloaded from the differential treatment from that prescribed in the
appropriately closed.
Accounting Standards has been followed.
Shareholders Android Play Store.
f) Pursuant to the disclosures made by the Senior Compliance with Discretionary requirements :
OTHER DISCLOSURES Management to the Board, there were no material i. The quarterly and half yearly financial results are
CIN : L24239MH1944PLC007330 a) The Company has obtained a certificate from Ms Neena financial and commercial transactions entered by them published in two newspapers as prescribed under the
Bhatia, Practising Company Secretary (Membership where they have personal interest and which could have SEBI Listing Regulations and are also available on the
Registered office : Corporate Office : potential conflict with the interest of the Company at website of the Company at https://www.abbott.co.in/
No. FCS 9492 and Certificate of Practice No. 2661),
3, Corporate Park, Shares Department large. investor-relations.html. Therefore, the results were not
Sion-Trombay Road, 15-16th Floor, Godrej BKC,
confirming that none of the Directors on the Board
is debarred or disqualified from being appointed or separately circulated to all the Members.
Mumbai – 400 071 Plot C – 68, “G’’ Block, g) In terms of requirement of Regulation 17(8) of the SEBI
Tel No. : +91-22-6797 8888 Bandra Kurla Complex, continuing as Director of the Company by the Securities Listing Regulations, Managing Director and Chief ii. Reporting of Internal Auditors is directly to the Audit
Near MCA Club, Bandra (East), and Exchange Board of India/Ministry of Corporate Financial Officer have made a certification to the Board Committee.
Mumbai – 400 051 Affairs or any such Statutory Authority for the year of Directors in the prescribed format, which has been iii. The Company has its financial statements with
Tel No. : +91-22-5046 1000/2000 ended March 31, 2023. reviewed by the Audit Committee and taken on record by unmodified audit opinion.
Fax : +91-22-5046 9400 the Board.
b) There were no Related Party Transactions entered For and on behalf of the Board
E-mail : investorrelations.india@abbott.com h) The Company has complied with all the Corporate
into by the Company during the year that had potential
Website : www.abbott.co.in Governance requirements specified in Regulations 17 to
conflict with the interests of the Company at large.
23, 24A to 27 and applicable clauses of Regulation 46(2)
of the SEBI Listing Regulations. The Company does not Vivek V Kamath Sudarshan Jain
have any subsidiary and therefore, Regulation 24 is not Mumbai Managing Director Director
applicable to the Company. May 19, 2023 DIN : 06606777 DIN : 00927487

DECLARATION UNDER SCHEDULE V (D) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE CONDITIONS OF CORPORATE
(LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 GOVERNANCE AS PER PROVISIONS OF CHAPTER IV OF THE SECURITIES AND EXCHANGE BOARD OF INDIA
Pursuant to Schedule V (D) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED
Regulations, 2015, I, Vivek V Kamath, Managing Director of Abbott India Limited, do hereby affirm that, all the Board
Members and Senior Management Personnel of the Company have affirmed Compliance with the Abbott India Code of The Members of Abbott India Limited 7. The procedures selected depend on the auditor’s
Conduct for the year ended March 31, 2023. judgement, including the assessment of the risks
1. The Corporate Governance Report prepared by Abbott
associated in compliance of the Corporate Governance
Vivek V Kamath India Limited (hereinafter the “Company”), contains
Report with the applicable criteria. Summary of
Mumbai Managing Director details as specified in regulations 17 to 27, clauses (b) to
procedures performed include :
March 31, 2023 DIN : 06606777 (i) and (t) of sub-regulation (2) of regulation 46 and para
C, D, and E of Schedule V of the Securities and Exchange i. Read and understood the information prepared
Board of India (Listing Obligations and Disclosure by the Company and included in its Corporate
Requirements) Regulations, 2015, as amended (“the Governance Report;
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS Listing Regulations”) (“Applicable criteria”) for the year
(Pursuant to Regulation 34(3) and Schedule V Para C Clause (10)(i) of the Securities and Exchange Board of India (Listing ended March 31, 2023 as required by the Company for ii. Obtained and verified that the composition of the
Obligations and Disclosure Requirements) Regulations, 2015) annual submission to the Stock Exchange. Board of Directors with respect to executive and
non-executive directors has been met throughout
To, from being appointed or continuing as Directors of Companies Management’s Responsibility the reporting period;
The Members, by the Securities and Exchange Board of India, Ministry of
2. The preparation of the Corporate Governance Report iii. Obtained and read the Register of Directors as
Abbott India Limited Corporate Affairs or any such other Statutory Authority.
is the responsibility of the Management of the on March 31, 2023 and verified that atleast one
Unit No. 3, Corporate Park,
Date of Company including the preparation and maintenance independent woman director was on the Board of
Sion-Trombay Road, Name of Director DIN Appointment of all relevant supporting records and documents. Directors throughout the year;
Chembur, Mumbai – 400 071 in Company This responsibility also includes the design,
Munir Shaikh 00096273 02/03/2001 implementation and maintenance of internal control iv. Obtained and read the Minutes of the following
I have examined the relevant registers, records, forms,
relevant to the preparation and presentation of the Committee Meetings/Other Meetings held from
returns and disclosures received from the Directors of Abbott Vivek V Kamath 06606777 15/02/2022
Corporate Governance Report. April 1, 2022 to March 31, 2023 :
India Limited having CIN : L24239MH1944PLC007330 and Anisha Motwani 06943493 25/04/2018
having their registered office at Unit No. 3, Corporate Park, 3. The Management along with the Board of Directors (a) Board of Directors;
Sudarshan Jain 00927487 01/04/2019
Sion-Trombay Road, Mumbai - 400 071 (hereinafter referred are also responsible for ensuring that the Company (b) Audit Committee;
Shalini Kamath 06993314 29/10/2019
to as “the Company”), produced before me by the Company complies with the conditions of Corporate Governance
Ambati Venu 07614849 01/03/2020 (c) Annual General Meeting (AGM);
for the purpose of issuing this Certificate, in accordance with as stipulated in the Listing Regulations, issued by the
Regulation 34(3) read with Schedule V, Para-C, sub-clause Kaiyomarz Marfatia 03449627 01/03/2011 Securities and Exchange Board of India. (d) Nomination and Remuneration Committee;
10(i) of the Securities and Exchange Board of India (Listing Rajiv Sonalker 07900178 08/08/2017
Obligations and Disclosure Requirements) Regulations, 2015. Sabina Ewing 09201770 15/06/2021 Auditor’s Responsibility (e) Stakeholders Relationship Committee;
4. Pursuant to the requirements of the Listing Regulations, (f) Risk Management Committee;
In my opinion and to the best of my information and according Ensuring the eligibility for the appointment/continuity our responsibility is to provide a reasonable assurance
to the verifications (including Directors Identification Number of every Director on the Board is the responsibility of the in the form of an opinion whether, the Company has (g) Corporate Social Responsibility Committee;
(DIN) status at the portal www.mca.gov.in) as considered management of the Company. My responsibility is to express complied with the conditions of Corporate Governance
necessary and explanations furnished to me by the Company an opinion on this, based on my verification. This certificate (h) Independent Directors Meeting
as specified in the Listing Regulations.
and its officers, I hereby certify that none of the Directors on is neither an assurance as to the future viability of the 5. We conducted our examination of the Corporate v. Obtained necessary declarations from the directors
the Board of the Company as stated below for the financial year Company nor of the efficiency or effectiveness with which the Governance Report in accordance with the Guidance of the Company.
ending on March 31, 2023 have been debarred or disqualified management has conducted the affairs. Note on Reports or Certificates for Special Purposes
vi. Obtained and read the policy adopted by the
and the Guidance Note on Certification of Corporate
Company for related party transactions.
Governance, both issued by the Institute of Chartered
Place : Mumbai Neena Bhatia Accountants of India (“ICAI”). The Guidance Note on vii. Obtained the schedule of related party transactions
Date : May 19, 2023 Practicing Company Secretary Reports or Certificates for Special Purposes requires during the year and balances at the year-end.
UDIN : F009492E000334036 Membership No. : FCS 9492 that we comply with the ethical requirements of the Obtained and read the Minutes of the Audit
Peer reviewed No : 1012/2020 Certificate of Practice No. : 2661 Code of Ethics issued by ICAI. Committee Meeting where in such related party
transactions have been pre-approved prior by the
6. We have complied with the relevant applicable
Audit Committee.
requirements of the Standard on Quality Control
(SQC) 1, Quality Control for firms that Perform Audits viii. Performed necessary inquiries with the
and Reviews of Historical Financial Information and management and also obtained necessary specific
Other Assurance and Related Services Engagements. representations from the management.

Report on Corporate Governance (Contd.) INDEPENDENT AUDITOR’S REPORT
8. The above-mentioned procedures include examining 11. This report is addressed to and provided to the members To the Members of Abbott India Limited in accordance with the ‘Code of Ethics’ issued by the
evidence supporting the particulars in the Corporate of the Company solely for the purpose of enabling it to Institute of Chartered Accountants of India together with
Report on the Audit of the Financial Statements
Governance Report on a test basis. Further, our scope comply with its obligations under the Listing Regulations the ethical requirements that are relevant to our audit of the
of work under this report did not involve us performing with reference to compliance with the relevant financial statements under the provisions of the Act and the
OPINION
audit tests for the purposes of expressing an opinion regulations of Corporate Governance and should not Rules thereunder, and we have fulfilled our other ethical
be used by any other person or for any other purpose. We have audited the accompanying financial statements of responsibilities in accordance with these requirements and
on the fairness or accuracy of any of the financial
Accordingly, we do not accept or assume any liability Abbott India Limited (“the Company”), which comprise the the Code of Ethics. We believe that the audit evidence we have
information or the financial statements of the Company
or any duty of care or for any other purpose or to any Balance sheet as at March 31 2023, the Statement of Profit obtained is sufficient and appropriate to provide a basis for our
taken as a whole.
other party to whom it is shown or into whose hands it and Loss, including the statement of Other Comprehensive audit opinion on the financial statements.
may come without our prior consent in writing. We have Income, the Cash Flow Statement and the Statement of
Opinion
no responsibility to update this report for events and Changes in Equity for the year then ended, and notes to the KEY AUDIT MATTERS
9. Based on the procedures performed by us, as referred in financial statements, including a summary of significant
paragraph 7 above and according to the information and circumstances occurring after the date of this report. Key audit matters are those matters that, in our professional
accounting policies and other explanatory information.
explanations given to us, we are of the opinion that the For S R B C & CO LLP judgment, were of most significance in our audit of the
Company has complied with the conditions of Corporate In our opinion and to the best of our information and financial statements for the financial year ended March 31,
Chartered Accountants
according to the explanations given to us, the aforesaid 2023. These matters were addressed in the context of our
Governance as specified in the Listing Regulations, as ICAI Firm Registration Number : 324982E/E300003 financial statements give the information required by the audit of the financial statements as a whole, and in forming our
applicable for the year ended March 31, 2023, referred to
Companies Act, 2013, as amended (“the Act”) in the manner opinion thereon, and we do not provide a separate opinion on
in paragraph 4 above. per Dolphy Dsouza so required and give a true and fair view in conformity with these matters. For each matter below, our description of how
Partner the accounting principles generally accepted in India, of the our audit addressed the matter is provided in that context.
Other matters and Restriction on Use
Membership Number : 38730 state of affairs of the Company as at March 31, 2023, its Profit We have determined the matters described below to be the
10. This report is neither an assurance as to the future including Other Comprehensive Income, its Cash Flows and
viability of the Company nor the efficiency or UDIN : 23038730BGYSNL6239 key audit matters to be communicated in our report. We
the Changes in Equity for the year ended on that date. have fulfilled the responsibilities described in the Auditor’s
effectiveness with which the management has Place of Signature : Mumbai
conducted the affairs of the Company. Date : May 19, 2023 responsibilities for the audit of the financial statements
BASIS FOR OPINION section of our report, including in relation to these matters.
We conducted our audit of the financial statements in Accordingly, our audit included the performance of procedures
accordance with the Standards on Auditing (SAs), as specified designed to respond to our assessment of the risks of material
under Section 143(10) of the Act. Our responsibilities under misstatement of the financial statements. The results of our
those Standards are further described in the ‘Auditor’s audit procedures, including the procedures performed to
Responsibilities for the Audit of the Financial Statements’ address the matters below, provide the basis for our audit
section of our report. We are independent of the Company opinion on the accompanying financial statements.
Key audit matters How our audit addressed the key audit matter
(a) Provision for Non-Saleable returns (as described in note 22 of the financial statements)
The Company makes sales to stockiest who further sells Our audit procedures included, amongst others,
products in the market. Stockiest have a right of return in
• Obtained an understanding of management process for
case goods expiring, while in supply chain till end consumers.
making provision for Non-saleable returns including
Return of these expired goods, results in deductions to gross
related controls.
amounts invoiced in arriving at revenue and creation of
obligations for the Company to give credit for sales returns. • Tested the Company’s key controls relating to the
deductions made to gross sales for sales returns, including
The amounts pertaining to such sales return are estimated at
those controls over booking of sales and sales return
the time of sale and deducted from gross sales and recorded
process.
as provisions for sales returns. These estimates are based on
analysis of historical trends of sales return and shelf life of • We obtained management’s calculations for provisions,
the products. recalculated the amounts and evaluated the assumptions
used with reference to historical sales returns levels and
The management has determined provision for sales returns
current trends.
amounting to ` 173.11 Crores which have been recorded
at March 31, 2023 (including reimbursable sales return • We considered the management’s estimates by comparing
amounting to ` 61.84 Crores) historical accrued provisions and revenue deductions
recorded to the actual amounts.

Independent Auditor’s Report (Contd.)
Key audit matters How our audit addressed the key audit matter INFORMATION OTHER THAN THE FINANCIAL The Board of Directors are also responsible for overseeing the
We focused on this area because establishing an appropriate •
We tested the working of discounting of non-current STATEMENTS AND AUDITOR’S REPORT THEREON Company’s financial reporting process.
year-end position requires significant judgement and provisions for sales return prepared by the management The Company’s Board of Directors is responsible for the other
estimation by the management. The assumptions required including the underlying assumptions. information. The other information comprises the Director’s AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF
for estimating provisions for sales returns are complex Report, Management Discussion and Analysis, Corporate THE FINANCIAL STATEMENTS
• We understood and assessed the Company’s revenue
in nature, the estimates may not be appropriate and, as a Governance Report but does not include the financial Our objectives are to obtain reasonable assurance about
recognition accounting policies, including the recognition
result, provisions and revenue may be incorrectly recorded. statements and our auditor’s report thereon. whether the financial statements as a whole are free from
and measurement of deductions to gross sales relating to
Accordingly, we regard these as key audit matter. material misstatement, whether due to fraud or error, and to
sales returns and related disclosures. Our opinion on the financial statements does not cover
issue an auditor’s report that includes our opinion. Reasonable
(b) Evaluation of uncertain tax positions (as described in note 36 (b) (ii) of the financial statements) the other information and we do not express any form of
assurance is a high level of assurance, but is not a guarantee
The Company has litigations involving question of law and • We obtained an understanding of the management’s process assurance conclusion thereon.
that an audit conducted in accordance with SAs will always
certain disallowances made by Income tax authorities in for: In connection with our audit of the financial statements, our detect a material misstatement when it exists. Misstatements
assessment orders that the Company has appealed against responsibility is to read the other information and, in doing can arise from fraud or error and are considered material if,
- identification of tax matters initiated against the
before the relevant appellate authorities. so, consider whether such other information is materially individually or in the aggregate, they could reasonably be
Company,
The Company has disclosed ` 80.81 Crores as Contingent inconsistent with the financial statements or our knowledge expected to influence the economic decisions of users taken
- assessment of accounting treatment for each such obtained in the audit or otherwise appears to be materially on the basis of these financial statements.
liability (including uncertain tax positions for open
litigation identified under applicable accounting misstated. If, based on the work we have performed, we
assessment orders) in accordance with Ind AS 37 Provisions, As part of an audit in accordance with SAs, we exercise
principles, and for measurement of amounts involved. conclude that there is a material misstatement of this other
Contingent Liabilities and Contingent Assets, based on professional judgment and maintain professional skepticism
management’s assessment in consultation with professional • We evaluated the design and tested the operating information, we are required to report that fact. We have throughout the audit. We also:
advice from the external legal counsel. effectiveness of controls around the above process. nothing to report in this regard.
• Identify and assess the risks of material misstatement of
The eventual outcome of the legal proceedings is dependent • We obtained an understanding of the nature of litigations the financial statements, whether due to fraud or error,
on the outcome of future events and unexpected adverse pending against the Company and discussed the key RESPONSIBILITIES OF MANAGEMENT FOR THE
FINANCIAL STATEMENTS design and perform audit procedures responsive to those
outcomes could significantly impact the Company’s reported developments during the year with the management.
risks, and obtain audit evidence that is sufficient and
Profits and Balance Sheet position. The Company’s Board of Directors is responsible for the
• We focused on the key developments in the tax litigations, appropriate to provide a basis for our opinion. The risk
matters stated in Section 134(5) of the Act with respect to
Key judgments are also made by the management in which could have materially impacted the amounts of not detecting a material misstatement resulting from
the preparation of these financial statements that give a true
estimating the amount of contingent liabilities related to recorded as provisions or disclosed as contingent liability fraud is higher than for one resulting from error, as fraud
aforementioned litigations. in the financial statements. We inspected the demand and fair view of the financial position, financial performance
may involve collusion, forgery, intentional omissions,
notices, assessment orders received for such cases and including Other Comprehensive Income, Cash Flows and
Considering the degree of judgment, significance of the misrepresentations, or the override of internal control.
obtained grounds of appeal submitted by the management Changes in Equity of the Company in accordance with the
amounts involved, inherent high estimation uncertainty accounting principles generally accepted in India, including • Obtain an understanding of internal control relevant to
in consultation with their external legal counsel.
and reliance on external legal counsel, this matter has been the Indian Accounting Standards (Ind AS) specified under the audit in order to design audit procedures that are
identified as a key audit matter. • We evaluated the appropriateness of methods used and the Section 133 of the Act read with the Companies (Indian appropriate in the circumstances. Under Section 143(3)
reliability of underlying data for quantifying the amounts Accounting Standards) Rules, 2015, as amended. This (i) of the Act, we are also responsible for expressing our
involved by analyzing the relevant demand notices, responsibility also includes maintenance of adequate opinion on whether the Company has adequate internal
assessment orders received. We also tested the arithmetical financial controls with reference to financial statements
accounting records in accordance with the provisions of the
accuracy of such calculations. in place and the operating effectiveness of such controls.
Act for safeguarding of the assets of the Company and for
• We also tested the independence, objectivity and preventing and detecting frauds and other irregularities; • Evaluate the appropriateness of accounting policies used
competence of such external legal counsel involved. selection and application of appropriate accounting policies; and the reasonableness of accounting estimates and
• We engaged internal tax specialists to evaluate management making judgments and estimates that are reasonable and related disclosures made by management.
assessment of the outcome of such litigation cases. The tax prudent; and the design, implementation and maintenance
of adequate internal financial controls, that were operating • Conclude on the appropriateness of management’s use
specialists considered legal precedence and other rulings in
effectively for ensuring the accuracy and completeness of of the going concern basis of accounting and, based
evaluating management’s position on such litigation cases.
the accounting records, relevant to the preparation and on the audit evidence obtained, whether a material
• We have evaluated the disclosures made by the Company presentation of the financial statements that give a true and uncertainty exists related to events or conditions that
in the financial statements in view of the requirements as may cast significant doubt on the Company’s ability
fair view and are free from material misstatement, whether
specified in the Indian Accounting Standards. to continue as a going concern. If we conclude that a
due to fraud or error.
material uncertainty exists, we are required to draw
In preparing the financial statements, management is attention in our auditor’s report to the related disclosures
responsible for assessing the Company’s ability to continue as in the financial statements or, if such disclosures are
a going concern, disclosing, as applicable, matters related to inadequate, to modify our opinion. Our conclusions are
going concern and using the going concern basis of accounting based on the audit evidence obtained up to the date of our
unless management either intends to liquidate the Company auditor’s report. However, future events or conditions
or to cease operations, or has no realistic alternative but to may cause the Company to cease to continue as a going
do so. concern.

Independent Auditor’s Report (Contd.)
• Evaluate the overall presentation, structure and content (c) The Balance Sheet, the Statement of Profit and Loss as disclosed in the Note 44 to the financial that the representations under Sub-clause (a)
of financial statements, including the disclosures, and including the Statement of Other Comprehensive statements, no funds have been advanced and (b) contain any material misstatement.
whether financial statements represent the underlying Income, the Cash Flow Statement and Statement of or loaned or invested (either from borrowed
v. The final dividend paid by the Company during
transactions and events in a manner that achieves fair Changes in Equity dealt with by this Report are in funds or share premium or any other sources
the year in respect of the same declared for the
presentation. agreement with the books of account; or kind of funds) by the Company to or in
any other person(s) or entity(ies), including previous year is in accordance with Section 123
We communicate with those charged with governance (d) In our opinion, the aforesaid financial statements of the Act to the extent it applies to payment of
foreign entities (“Intermediaries”), with the
regarding, among other matters, the planned scope and comply with the Accounting Standards specified dividend.
understanding, whether recorded in writing
timing of the audit and significant audit findings, including under Section 133 of the Act, read with Companies or otherwise, that the Intermediary shall,
any significant deficiencies in internal control that we identify (Indian Accounting Standards) Rules, 2015, as As stated in Note 14 to the financial statements,
whether, directly or indirectly lend or invest
during our audit. amended; the Board of Directors of the Company have
in other persons or entities identified in any
proposed final dividend for the year which
We also provide those charged with governance with a (e) On the basis of the written representations received manner whatsoever by or on behalf of the
Company (“Ultimate Beneficiaries”) or provide is subject to the approval of the members at
statement that we have complied with relevant ethical from the directors as on March 31, 2023 taken
on record by the Board of Directors, none of the any guarantee, security or the like on behalf of the ensuing Annual General Meeting. The
requirements regarding independence, and to communicate dividend declared is in accordance with
directors is disqualified as on March 31, 2023 from the Ultimate Beneficiaries;
with them all relationships and other matters that may
being appointed as a director in terms of Section 164 Section 123 of the Act to the extent it applies to
reasonably be thought to bear on our independence, and where b) The management has represented that, to
(2) of the Act; declaration of dividend.
applicable, related safeguards. the best of its knowledge and belief, and
(f) The reservation relating to the maintenance of as disclosed in the Note 44 to the financial vi. As proviso to Rule 3(1) of the Companies
From the matters communicated with those charged with statements, no funds have been received by
accounts and other matters connected therewith (Accounts) Rules, 2014 is applicable for the
governance, we determine those matters that were of most the Company from any person(s) or entity(ies),
are as stated in paragraph (b) above Company only w.e.f. April 1, 2023, reporting
significance in the audit of the financial statements for the including foreign entities (“Funding Parties”),
financial year ended March 31, 2023 and are therefore the (g) With respect to the adequacy of the internal under this clause is not applicable.
with the understanding, whether recorded in
key audit matters. We describe these matters in our auditor’s financial controls with reference to these financial writing or otherwise, that the Company shall,
report unless law or regulation precludes public disclosure statements and the operating effectiveness of such whether, directly or indirectly, lend or invest For S R B C & CO LLP
about the matter or when, in extremely rare circumstances, controls, refer to our separate Report in “Annexure in other persons or entities identified in any Chartered Accountants
we determine that a matter should not be communicated in 2” to this report; manner whatsoever by or on behalf of the ICAI Firm Registration Number: 324982E/E300003
our report because the adverse consequences of doing so Funding Party (“Ultimate Beneficiaries”) or
(h) In our opinion, the managerial remuneration for the
would reasonably be expected to outweigh the public interest year ended March 31, 2023 has been paid / provided provide any guarantee, security or the like on per Dolphy Dsouza
benefits of such communication. by the Company to its directors in accordance with behalf of the Ultimate Beneficiaries; and Partner
the provisions of Section 197 read with Schedule V Membership Number: 038730
c) Based on such audit procedures performed
REPORT ON OTHER LEGAL AND REGULATORY to the Act; UDIN: 23038730BGYSNK6600
that have been considered reasonable and
REQUIREMENTS
(i) With respect to the other matters to be included appropriate in the circumstances, nothing has Place of Signature: Mumbai
1. As required by the Companies (Auditor’s Report) Order, come to our notice that has caused us to believe Date: May 19, 2023
in the Auditor’s Report in accordance with
2020 (“the Order”), issued by the Central Government of
Rule 11 of the Companies (Audit and Auditors)
India in terms of Sub-Section (11) of Section 143 of the
Rules, 2014, as amended in our opinion and to
Act, based on our audit, we give in the “Annexure 1” a
the best of our information and according to the
statement on the matters specified in paragraphs 3 and 4
explanations given to us:
of the Order.
i. The Company has disclosed the impact of
2. As required by Section 143(3) of the Act, we report that:
pending litigations on its financial position in
(a) We have sought and obtained all the information its financial statements – Refer Note 36 to the
and explanations which to the best of our knowledge financial statements;
and belief were necessary for the purposes of our
ii. The Company did not have any long-term
audit;
contracts including derivative contracts for
(b) In our opinion, proper books of account as required which there were any material foreseeable
by law have been kept by the Company so far as it losses;
appears from our examination of those books, the
iii. There has been no delay in transferring
back-up of books of account were taken on a server
amounts, required to be transferred, to the
physically located in India except for an application
Investor Education and Protection Fund by the
used for processing expenses of field employees
Company
where backup taken on a daily basis were kept on
server physically located outside India as stated in iv. a)T
he management has represented that, to
Note 45 to the financial statements the best of its knowledge and belief, and

ANNEXURE 1 REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING “REPORT ON OTHER LEGAL AND
REGULATORY REQUIREMENTS” OF OUR REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF
ABBOTT INDIA LIMITED
In terms of the information and explanations sought by us and given by the Company and the books of account and records (ii) (a) The inventory has been physically verified by the management during the year except for inventories lying with
examined by us in the normal course of audit and to the best of our knowledge and belief, we state that: third parties. In our opinion, the frequency of verification by the management is reasonable and the coverage and
procedure for such verification is appropriate. Discrepancies of 10% or more in aggregate for each class of inventory
(i) (a) (A) The Company has maintained proper records showing full particulars, including quantitative details and
were not noticed in respect of such physical verification. Inventories lying with third parties have been confirmed by
situation of Property, Plant and Equipment.
them as at March 31, 2023 and discrepancies were not noticed in respect of such confirmations.
(B) The Company has maintained proper records showing full particulars of Intangibles assets.
(b) The Company has not been sanctioned working capital limits in excess of ` 5 crores in aggregate from banks or
(b) All Property, Plant and Equipment were not physically verified by the management but there is a planned programme financial institutions during any point of time of the year on the basis of security of current assets. Accordingly, the
of verifying them once in three years which is reasonable having regard to the size of the Company and the nature of requirement to report on clause 3(ii)(b) of the Order is not applicable to the Company.
its assets.
(iii) (a) During the year the Company has not provided loans, advances in the nature of loans, stood guarantee or provided
(c) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease
security to companies, firms, Limited Liability Partnerships or any other parties. Accordingly, the requirement to
agreements are duly executed in favour of the lessee) disclosed in Note 3 to the financial statements included in
report on clause 3(iii)(a) of the Order is not applicable to the Company.
Property, Plant and Equipment are held in the name of the Company, except for the following:
(b) During the year the Company has not made investments, provided guarantees, provided security and granted
Period held
Description of
Gross carrying Whether promoter,
- indicate Reason for not being
loans and advances in the nature of loans to companies, firms, Limited Liability Partnerships or any other parties.
value Held in name of director of their
property range, where held in name of Company Accordingly, the requirement to report on clause 3(iii)(b) of the Order is not applicable to the Company.
(` in Crores) relative or employee
appropriate
(c) The Company has not granted loans and advances in the nature of loans to companies, firms, Limited Liability
Building - 6.35 M/S Boots No 1996 The property is held in
Partnerships or any other parties. Accordingly, the requirement to report on clause 3(iii)(c), (d), (e) and (f) of the
Chembur Pharmaceuticals the erstwhile name of the
Order is not applicable to the Company.
Limited Company.
Building - 0.16 M/S Duphar No 1989 The said property is held (iv) There are no loans, investments, guarantees, and security in respect of which provisions of Sections 185 and 186 of the
Chennai Interfan Limited in the name of Duphar Companies Act, 2013 are applicable and accordingly, the requirement to report on clause 3(iv) of the Order is not applicable
Interfran Limited, which to the Company.
was demerged into a new (v) The Company has neither accepted any deposits from the public nor accepted any amounts which are deemed to be deposits
entity - Solvay Pharma within the meaning of Sections 73 to 76 of the Companies Act and the rules made thereunder, to the extent applicable.
India Limited (SPIL). SPIL Accordingly, the requirement to report on clause 3(v) of the Order is not applicable to the Company.
was ultimately merged
(vi) We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central
with the Company and the
Government for the maintenance of cost records under Section 148 (1) of the Companies Act, 2013, related to the
deed of merger was filed by
manufacture of pharmaceutical products, and are of the opinion that prima facie, the specified accounts and records have
the Company.
been made and maintained. We have not, however, made a detailed examination of the same.
Building - 30.34 M/S Solvay No 2009 The said property was
Goregaon Pharma India acquired by the Company (vii) (a) Undisputed statutory dues including goods and services tax, provident fund, employees’ state insurance, income-tax,
Limited pursuant to the scheme of duty of custom, cess and other statutory dues have generally been regularly deposited with the appropriate authorities
amalgamation of Solvay though there has been a slight delay in a few cases. According to the information and explanations given to us and
Pharma India Limited with based on audit procedures performed by us, undisputed dues in respect of provident fund which were outstanding, at
Company approved by the the year end, for a period of more than six months from the date they became payable, are as follows:
Hon’ble High Court and Period to
the deed of merger has Nature of which the Date of Remarks,
Name of the Statute ` in Crores Due Date
been filed by the Company. the Dues amount Payment if any
Goa residential 0.07 M/S Knoll No 1997 The property is held in relates
building Pharmaceuticals the erstwhile name of the Employees' Provident Funds & Provident 0.02 April 22 15th of NA
Limited Company. Miscellaneous Provisions Act, 1952 Fund to Sept 22 subsequent
month
(d) The Company has not revalued its Property, Plant and Equipment (including Right of use assets) or Intangible assets
during the year ended March 31, 2023.
(e) There are no proceedings initiated or are pending against the Company for holding any benami property under the
Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

(b) The dues of goods and services tax, provident fund, employees’ state insurance, income-tax, duty of custom, cess, and (f) The Company does not have any subsidiary, associate or joint venture. Accordingly, the requirement to report on
other statutory dues which have not been deposited on account of any dispute, are as follows: clause (ix)(f) of the Order is not applicable to the Company.
Period to which the Forum where the (x) (a) The Company has not raised any money during the year by way of initial public offer / further public offer (including
Name of the statute Nature of the dues ` in Crores
amount relates dispute is pending debt instruments) hence, the requirement to report on clause 3(x)(a) of the Order is not applicable to the Company.
Income Tax Act, 1961 Income Tax 1.84 A.Y. 1998-99 Bombay High Court (b) The Company has not made any preferential allotment or private placement of shares / fully or partially or optionally
32.05 A.Y. 2004-05, A.Y. 2016- Commissioner of Income convertible debentures during the year under audit and hence, the requirement to report on clause 3(x)(b) of the
17, A.Y. 2017-18 and A.Y. Tax (Appeals) Order is not applicable to the Company.
2018-19 (xi) (a) No fraud by the Company or no material fraud on the Company has been noticed or reported during the year.
Central Excise Act, 1944 Excise Duty 0.03 1991-92 Commissioner (Appeals)
(b) During the year, no report under Sub-Section (12) of Section 143 of the Companies Act, 2013 has been filed by cost
0.04 1994-95 Commissioner auditor/ secretarial auditor or by us in Form ADT – 4 as prescribed under Rule 13 of Companies (Audit and Auditors)
0.03 1994 and 1997 to 2002 Assistant Commissioner Rules, 2014 with the Central Government.
0.26 2005-06 CESTAT (c) We have taken into consideration the whistle blower complaints received by the Company during the year while
Customs Act, 1962 Customs Duty 0.04 1996 Commissioner (Appeals) determining the nature, timing and extent of audit procedures.
0.75 2011 to 2013 CESTAT (xii) The Company is not a nidhi Company as per the provisions of Companies Act 2013. Therefore, the requirement to report on
clause 3(xii)(a), (b) and (c) of the Order is not applicable to the Company.
The Bombay Sales Tax Sales Tax 0.40 1999-2000 Deputy Commissioner of
Act, 1959 Sales Tax (xiii) Transactions with the related parties are in compliance with Sections 177 and 188 of Companies Act, 2013 where applicable
Gujarat Value Added Tax Value Added 0.13 2017-18 Deputy Commissioner, and the details have been disclosed in the notes to the financial statements, as required by the applicable accounting
Tax Commercial Taxes, Gujarat standards.
Kerala General Sales Tax Sales Tax 0.13 2002-03 Sales Tax Appellate (xiv) (a) The Company has an internal audit system commensurate with the size and nature of its business.
Act, 1963 Tribunal, Additional Bench (b) The internal audit reports of the Company issued till the date of the audit report, for the period under audit have been
Goa Value Added Tax Act, Value Added 0.02 2006-07 Additional Commissioner of considered by us.
2005 Tax Commercial Taxes, Panaji,
(xv) The Company has not entered into any non-cash transactions with directors or persons connected with its directors and
Goa
hence requirement to report on clause 3(xv) of the Order is not applicable to the Company.
Central Sales Tax, 1956 Sales Tax 3.97 2006-07 Additional Commissioner of
(xvi) (a) The provisions of Section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934) are not applicable to the Company.
(Goa) Commercial Taxes, Panaji,
Accordingly, the requirement to report on clause (xvi)(a) of the Order is not applicable to the Company.
Goa
0.17 2009-10 Assistant Commissioner of (b) The Company is not engaged in any Non-Banking Financial or Housing Finance activities. Accordingly, the
Commercial Taxes, Panaji, requirement to report on clause (xvi)(b) of the Order is not applicable to the Company.
Goa (c) The Company is not a Core Investment Company as defined in the regulations made by Reserve Bank of India.
Central Excise Act, 1944 Excise Duty 4.52 2014-15 to 2017-18 CESTAT, Mumbai Accordingly, the requirement to report on clause 3(xvi)(c) of the Order is not applicable to the Company.
(viii) T
he Company has not surrendered or disclosed any transaction, previously unrecorded in the books of account, in the tax (d) There is no Core Investment Company as a part of the Group, hence, the requirement to report on clause 3(xvi)(d) of
assessments under the Income Tax Act, 1961 as income during the year. Accordingly, the requirement to report on clause the Order is not applicable to the Company.
3(viii) of the Order is not applicable to the Company.
(xvii) The Company has not incurred cash losses in the current financial year and in the immediately preceding financial year.
(ix) (a) The Company did not have any outstanding loans or borrowings or interest thereon due to any lender during the year.
(xviii) There has been no resignation of the statutory auditors during the year and accordingly requirement to report on Clause
Accordingly, the requirement to report on clause ix(a) of the Order is not applicable to the Company.
3(xviii) of the Order is not applicable to the Company.
(b) The Company has not been declared wilful defaulter by any bank or financial institution or government or any
(xix) On the basis of the financial ratios disclosed in Note 42 to the financial statements, ageing and expected dates of
government authority.
realization of financial assets and payment of financial liabilities, other information accompanying the financial
(c) The Company did not have any term loans outstanding during the year hence, the requirement to report on clause (ix) statements, our knowledge of the Board of Directors and management plans and based on our examination of the
(c) of the Order is not applicable to the Company. evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material
uncertainty exists as on the date of the audit report that Company is not capable of meeting its liabilities existing at the
(d) The Company did not raise any funds during the year hence, the requirement to report on clause (ix)(d) of the Order
date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however,
is not applicable to the Company.
state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based
(e) The Company does not have any subsidiary, associate or joint venture. Accordingly, the requirement to report on on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities
clause 3(ix)(e) of the Order is not applicable to the Company. falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when
they fall due.

ANNEXURE 2 - TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS
OF ABBOTT INDIA LIMITED
(xx) (a) In respect of other than ongoing projects, there are no unspent amounts that are required to be transferred to a fund Report on the Internal Financial Controls under Clause MEANING OF INTERNAL FINANCIAL CONTROLS
specified in Schedule VII of the Act, in compliance with second proviso to Sub-section (5) of Section 135 of the Act. (i) of Sub-section 3 of Section 143 of the Companies Act, WITH REFERENCE TO THESE FINANCIAL
This matter has been disclosed in Note 30(b) to the financial statements. 2013 (“the Act”) STATEMENTS
We have audited the internal financial controls with reference A Company's internal financial controls with reference
(b) All amounts that are unspent under Section (5) of Section 135 of Companies Act, pursuant to any ongoing project, has to financial statements is a process designed to provide
to financial statements of Abbott India Ltd. (“the Company”)
been transferred to special account in compliance with provisions of Sub-section (6) of Section 135 of the said Act. as of March 31, 2023 in conjunction with our audit of the reasonable assurance regarding the reliability of financial
This matter has been disclosed in Note 30(b) to the financial statements. financial statements of the Company for the year ended on reporting and the preparation of financial statements for
that date. external purposes in accordance with generally accepted
accounting principles. A Company's internal financial controls
MANAGEMENT’S RESPONSIBILITY FOR INTERNAL with reference to financial statements includes those policies
For S R B C & CO LLP
FINANCIAL CONTROLS and procedures that (1) pertain to the maintenance of records
Chartered Accountants that, in reasonable detail, accurately and fairly reflect the
ICAI Firm Registration Number: 324982E/E300003 The Company’s Management is responsible for establishing transactions and dispositions of the assets of the Company; (2)
and maintaining internal financial controls based on the provide reasonable assurance that transactions are recorded
internal control over financial reporting criteria established as necessary to permit preparation of financial statements in
per Dolphy Dsouza by the Company considering the essential components of accordance with generally accepted accounting principles,
Partner internal control stated in the Guidance Note on Audit of and that receipts and expenditures of the Company are being
Membership Number: 038730 Internal Financial Controls Over Financial Reporting issued made only in accordance with authorisations of management
UDIN: 23038730BGYSNK6600 by the Institute of Chartered Accountants of India (“ICAI”). and directors of the Company; and (3) provide reasonable
These responsibilities include the design, implementation assurance regarding prevention or timely detection of
and maintenance of adequate internal financial controls unauthorised acquisition, use, or disposition of the Company's
Place of Signature: Mumbai
that were operating effectively for ensuring the orderly and assets that could have a material effect on the financial
Date: May 19, 2023 efficient conduct of its business, including adherence to statements.
the Company’s policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy INHERENT LIMITATIONS OF INTERNAL FINANCIAL
and completeness of the accounting records, and the timely CONTROLS WITH REFERENCE TO FINANCIAL
preparation of reliable financial information, as required STATEMENTS
under the Companies Act, 2013. Because of the inherent limitations of internal financial
controls with reference to financial statements, including the
AUDITOR’S RESPONSIBILITY possibility of collusion or improper management override of
Our responsibility is to express an opinion on the Company's controls, material misstatements due to error or fraud may
internal financial controls with reference to these financial occur and not be detected. Also, projections of any evaluation
statements based on our audit. We conducted our audit in of the internal financial controls with reference to financial
accordance with the Guidance Note on Audit of Internal statements to future periods are subject to the risk that
Financial Controls Over Financial Reporting (the “Guidance the internal financial control with reference to financial
Note”) and the Standards on Auditing, as specified under statements may become inadequate because of changes in
Section 143(10) of the Act, to the extent applicable to an audit conditions, or that the degree of compliance with the policies
of internal financial controls, both issued by ICAI. Those or procedures may deteriorate.
Standards and the Guidance Note require that we comply
with ethical requirements and plan and perform the audit to OPINION
obtain reasonable assurance about whether adequate internal In our opinion, the Company has, in all material respects,
financial controls with reference to these financial statements adequate internal financial controls with reference to financial
was established and maintained and if such controls operated statements and such internal financial controls with reference
effectively in all material respects. to financial statements were operating effectively as at
Our audit involves performing procedures to obtain audit March 31, 2023, based on the internal control over financial
evidence about the adequacy of the internal financial reporting criteria established by the Company considering
controls with reference to these financial statements and the essential components of internal control stated in the
their operating effectiveness. Our audit of internal financial Guidance Note issued by the ICAI.
controls with reference to financial statements included
obtaining an understanding of internal financial controls with
reference to these financial statements, assessing the risk that For S R B C & CO LLP
a material weakness exists, and testing and evaluating the Chartered Accountants
design and operating effectiveness of internal control based ICAI Firm Registration Number: 324982E/E300003
on the assessed risk. The procedures selected depend on the
auditor’s judgement, including the assessment of the risks of per Dolphy Dsouza
material misstatement of the financial statements, whether Partner
due to fraud or error. Membership Number: 038730
We believe that the audit evidence we have obtained is UDIN: 23038730BGYSNK6600
sufficient and appropriate to provide a basis for our audit
opinion on the Company’s internal financial controls with Place of Signature: Mumbai
reference to these financial statements. Date: May 19, 2023

BALANCE SHEET STATEMENT OF PROFIT AND LOSS

as at March 31, 2023 for the year ended March 31, 2023
(All amounts in ` Crores, unless otherwise stated) (All amounts in ` Crores, unless otherwise stated)
As at As at For the year ended For the year ended
Notes Notes
March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022
ASSETS INCOME
Non-Current Assets
Property, Plant and Equipment 3 130.23 123.19 Revenue from Operations 23 5,348.73 4,913.32
Capital Work-in-Progress 3 3.66 0.66 Other Income 24 154.15 83.16
Intangible Assets 4 7.52 8.63
Right-of-Use Assets 5 99.16 139.18 Total Income 5,502.88 4,996.48
Financial Assets
EXPENSES
Other Financial Assets 6 1,222.07 43.15
Deferred Tax Assets (net) 17 16.93 16.96 Cost of Materials Consumed 25 558.61 495.46
Non-Current Tax Assets (net) 49.28 35.38
Purchases of Stock-in-Trade 2,350.36 2,184.03
Other Non-Current Assets 7 1.55 3.93
Total Non-Current Assets 1,530.40 371.08 Changes in Inventories of Finished Goods, Stock-in-Trade and
Current Assets Work-in-Progress 26 66.09 (22.28)
Inventories 8 648.85 687.82
Financial Assets Employee Benefits Expense 27 563.59 579.46
Trade Receivables 9 316.95 288.16 Finance Costs 28 15.99 19.10
Cash and Cash Equivalents 10 239.67 132.71
Bank Balances other than Cash and Cash Equivalents 11 1,697.39 2,616.51 Depreciation and Amortisation Expense 29 69.97 66.10
Other Financial Assets 12 70.48 72.25 Other Expenses 30 604.45 594.88
Other Current Assets 13 51.77 55.59
Total Current Assets 3,025.11 3,853.04 Total Expenses 4,229.06 3,916.75
TOTAL ASSETS 4,555.51 4,224.12 PROFIT BEFORE TAX 1,273.82 1,079.73
EQUITY AND LIABILITIES
Equity TAX EXPENSES
Equity Share Capital 14 21.25 21.25 Current Tax Expense 17 329.41 276.98
Other Equity 15 3,167.29 2,798.54
Total Equity 3,188.54 2,819.79 Tax Adjustment for Earlier Years 17 (3.81) 4.18
Non-Current Liabilities Deferred Tax - charge/(credit) 17 (1.19) (0.13)
Financial Liabilities
Lease Liabilities 5 67.49 108.74 Total Tax Expenses 324.41 281.03
Provisions 16 93.46 92.40
Total Non-Current Liabilities 160.95 201.14
PROFIT FOR THE YEAR 949.41 798.70
Current Liabilities OTHER COMPREHENSIVE INCOME
Financial Liabilities
Lease Liabilities 5 45.68 42.95 Items that will not be reclassified subsequently to profit or loss :
Trade Payables 18 Remeasurement gains/(losses) of defined benefit plan 31 4.84 3.90
Total outstanding dues of Micro enterprises and Small enterprises 24.57 32.29
Total outstanding dues of creditors other than Micro enterprises Income tax on above 17 (1.22) (0.98)
and Small enterprises 867.42 857.16 Total Other Comprehensive Income, net of tax 3.62 2.92
Other Financial Liabilities 19 77.99 73.18
Other Current Liabilities 20 53.63 57.89 TOTAL COMPREHENSIVE INCOME FOR THE YEAR, NET OF TAX 953.03 801.62
Provisions 21 126.19 127.86
EARNINGS PER EQUITY SHARE 32
Current Tax Liabilities (net) 10.54 11.86
Total Current Liabilities 1,206.02 1,203.19 Basic and Diluted - ` (Face value of `10 each) 446.78 375.86
TOTAL EQUITY AND LIABILITIES 4,555.51 4,224.12
Significant accounting policies 2 Significant accounting policies 2
The accompanying notes are an integral part of the Financial Statements. The accompanying notes are an integral part of the financial statements.
As per our report of even date For and on behalf of the Board of Directors As per our report of even date For and on behalf of the Board of Directors
For S R B C & CO LLP VIVEK V KAMATH SUDARSHAN JAIN For S R B C & CO LLP VIVEK V KAMATH SUDARSHAN JAIN
Chartered Accountants Managing Director Director Chartered Accountants Managing Director Director
ICAI Firm Registration No. 324982E/E300003 DIN : 06606777 DIN : 00927487 ICAI Firm Registration No. 324982E/E300003 DIN : 06606777 DIN : 00927487
per DOLPHY DSOUZA RAJIV SONALKER KRUPA ANANDPARA per DOLPHY DSOUZA RAJIV SONALKER KRUPA ANANDPARA
Partner CFO and Whole-time Director Company Secretary Partner CFO and Whole-time Director Company Secretary
Membership No. 38730 DIN : 07900178 Membership No. ACS 16536 Membership No. 38730 DIN : 07900178 Membership No. ACS 16536
Place : Mumbai Place : Mumbai Place : Mumbai Place : Mumbai
Date : May 19, 2023 Date : May 19, 2023 Date : May 19, 2023 Date : May 19, 2023

STATEMENT OF CASH FLOWS STATEMENT OF CASH FLOWS

for the year ended March 31, 2023 for the year ended March 31, 2023
For the year ended For the year ended For the year ended For the year ended
CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES
Profit Before Tax 1,273.82 1,079.73 Dividend paid (584.36) (584.36)
Adjustments to reconcile Profit Before Tax to net cash flows : Payment of Lease Liabilities (53.87) (52.32)
Depreciation and Amortisation Expense 69.97 66.10
Interest paid, other than on Lease Liabilities (0.49) (0.70)
Unrealised Exchange (gain)/loss (net) (1.00) (0.91)
Net cash flows used in Financing Activities (C) (638.72) (637.38)
(Gain)/Loss on sale/write off of Property, Plant and Equipment (net) 0.26 -*
Gain on early Termination of Leases (0.60) -*
Interest Income (142.31) (76.06)
Net increase/(decrease) in Cash and Cash Equivalents (A+B+C) 106.96 (85.56)
Finance Costs 15.99 19.10 Cash and Cash Equivalents at the beginning of the year 132.71 218.27
Allowance / (Write back) for Credit Impaired Debts (0.09) 1.22 Cash and Cash Equivalents at the end of the year (Refer Note 10) 239.67 132.71
Allowance for Credit Impaired Deposits -* 0.45 Significant accounting policies (Refer Note 2)
Provision/(Write back) for likely sales returns, date expiry and damaged products The accompanying notes are an integral part of the Financial Statements.
(net) (10.06) 5.15
Note :
Liabilities / Provisions no longer required written back (7.08) (4.68)
1. Cash Flow Statement has been prepared under the Indirect Method, as set out in Ind AS 7 'Statement of Cash Flows'.
Share Based Compensation Expense 12.22 12.93
Operating Profit before Working capital changes 1,211.12 1,103.03
Working capital changes : As per our report of even date For and on behalf of the Board of Directors
(Increase)/ decrease in Trade Receivables (28.73) (39.17) For S R B C & CO LLP VIVEK V KAMATH SUDARSHAN JAIN
(Increase)/ decrease in Inventories 38.97 29.78 Chartered Accountants Managing Director Director
ICAI Firm Registration No. 324982E/E300003 DIN : 06606777 DIN : 00927487
(Increase)/ decrease in Other Current and Non-Current Assets 16.95 (9.56)
Increase/ (decrease) in Trade Payables (1.41) 119.80 per DOLPHY DSOUZA RAJIV SONALKER KRUPA ANANDPARA
Partner CFO and Whole-time Director Company Secretary
Increase/ (decrease) in Current and Non-Current Liabilities and Provisions (2.65) 32.77 Membership No. 38730 DIN : 07900178 Membership No. ACS 16536
Cash generated from Operations 1,234.25 1,236.65
Place : Mumbai Place : Mumbai
Date : May 19, 2023 Date : May 19, 2023
Income tax paid (net of refunds) (340.86) (288.99)
Net cash flows from Operating Activities (A) 893.39 947.6 6
CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Property, Plant and Equipment (including Capital Work-in-Progress,
Capital Creditors and Capital Advances) (34.11) (44.07)
Proceeds from sale of Property, Plant and Equipment 0.48 0.23
Investment in Fixed Deposits maturing beyond 3 months (4,318.26) (2,650.09)
Investment in Fixed Deposits with original maturity of more than twelve months (1,137.00) -
Redemption of Fixed Deposits maturing beyond 3 months 5,238.94 2,229.10
Interest received on Deposits (interest income) 102.24 68.99
Net cash flows used in Investing Activities (B) (147.71) (395.84)
* below ` 50,000/-

STATEMENT OF CHANGES IN EQUITY NOTES TO THE FINANCIAL STATEMENTS

for the year ended March 31, 2023 for the year ended March 31, 2023
1 COMPANY INFORMATION
(All amounts in ` Crores, unless otherwise stated)
• Expected to be realised within twelve months
2,580.91
798.70
2.92
801.62
-
(584.36)
12.93
(12.56)
-
2,798.54
949.41
3.62
953.03
-
(584.36)
12.22
(12.14)
-
3,167.29
Amount
21.25
-
21.25
-
21.25
Equity
Other
Total
Abbott India Limited (‘The Company’) is a public limited after the reporting period
Company domiciled and incorporated in India under the
• Cash or cash equivalent unless restricted from
provisions of the Companies Act, 1913. The Company is listed
being exchanged or used to settle a liability
(9.75)
-
2.92
2.92
-
-
-
-
-
(6.83)
-
3.62
3.62
-
-
-
-
-
(3.21)
of defined benefit
Remeasurement
Comprehensive
(Refer Note 15) and traded on the Bombay Stock Exchange. It is traded on the
Items of Other
Income (OCI)
for at least twelve months after the reporting
National Stock Exchange under the “permitted category”. The
plan
registered office of the Company is 3, Corporate Park, Sion- period
Trombay road, Mumbai - 400 071, India.
Number of shares
2,12,49,302
-
2,12,49,302
-
2,12,49,302
All other assets are classified as non-current.

The Company is one of the leading multinational A liability is current when :
2,023.93
798.70
-
798.70
(79.87)
(584.36)
-
-
-
2,158.40
949.41
-
949.41
(94.94)
(584.36)
-
-
-
2,428.51
pharmaceutical companies in India and operates with an
Retained
Earnings
owned manufacturing facility in Goa and various independent • It is expected to be settled in normal operating
contract/third party manufacturers based across the country. cycle
Membership No. ACS 16536

The Company sells its products through independent • It is held primarily for the purpose of trading
514.33
-
-
-
79.87
-
-
-
0.48
594.68
-
-
-
94.94
-
-
-
1.72
691.34
KRUPA ANANDPARA
distributors primarily within India.
Reserve
General
• It is due to be settled within twelve months
SUDARSHAN JAIN
Company Secretary
2 SUMMARY OF SIGNIFICANT ACCOUNTING after the reporting period
POLICIES
DIN : 00927487
44.27
-
-
-
-
-
12.93
(12.56)
(0.48)
44.16
-
-
-
-
-
12.22
(12.14)
(1.72)
42.52
Reserves and Surplus (Refer Note 15)
• There is no unconditional right to defer the

Compensation
Share based
2.1 Statement of Compliance

Reserves
settlement of the liability for at least twelve
Director
The financial statements are prepared in accordance with months after the reporting period
For and on behalf of the Board of Directors

the Indian Accounting Standards (Ind AS) notified under
the Companies (Indian Accounting Standards) Rules, All other liabilities are classified as non-current.
2.52
-
-
-
-
-
-
-
-
2.52
-
-
-
-
-
-
-
-
2.52
2015 (as amended from time to time) and presentation
Redemption
Deferred tax assets and liabilities are classified as

Reserve
Capital
and disclosure requirements of division II of Schedule non-current assets and liabilities.
CFO and Whole-time Director

III of the Companies Act, 2013.
b) Foreign currency translation
2.2 Basis of preparation
Functional and presentation currency
5.23
-
-
-
-
-
-
-
-
5.23
-
-
-
-
-
-
-
-
5.23
Reserve
The financial statements have been prepared on a

Capital
VIVEK V KAMATH
RAJIV SONALKER
Items included in the financial statements of the
Date : May 19, 2023

historical cost basis, except for certain financial assets
Managing Director
Company are measured using the currency of
The accompanying notes are an integral part of the Financial Statements.
and liabilities measured at fair value.
DIN : 06606777
DIN : 07900178
Place : Mumbai
the primary economic environment in which the
0.38
-
-
-
-
-
-
-
-
0.38
-
-
-
-
-
-
-
-
0.38
Amalgamation
The financial statements are presented in Indian Rupees

Company operates ('the functional currency').
Reserve
(`) and all values are rounded to the nearest Crores upto
The financial statements are presented in Indian
two decimal, except when otherwise indicated.
Rupee (`), which is the Company's functional and
The financial statements are approved for issue by the presentation currency.
* On account of cancellation of share options awarded to employees
Company's Board of Directors on May 19, 2023.

Transfer from Share based Compensation Reserve to General Reserve*
Transfer from Share based Compensation Reserve to General Reserve*
Transactions and balances

Equity shares of ` 10 each issued, subscribed and fully paid
2.3 Summary of significant accounting policies

Transactions in foreign currencies are initially
a) Current and non-current classification
Dividend for the year ended March 31, 2022 (Refer Note 14)
Dividend for the year ended March 31, 2021 (Refer Note 14)
ICAI Firm Registration No. 324982E/E300003
recorded at the foreign exchange rate on the date

Remeasurement of post employment benefits (net of tax)
Remeasurement of post employment benefits (net of tax)

Share based compensation to employees (Refer Note 27)
Share based compensation to employees (Refer Note 27)
All assets and liabilities are presented in the Balance of the transaction. Monetary assets and liabilities
Sheet based on current or non-current classification
Increase/(decrease) during the year
Increase/(decrease) during the year
Significant accounting policies (Refer Note 2)
denominated in foreign currencies at the reporting

Transfer from Profit and Loss to General Reserve
as per the Company’s normal operating cycle

Transfer from Profit and loss to General Reserve
date are translated into the functional currency at

Total Comprehensive Income for the year
Total Comprehensive Income for the year
and other criteria set out in Schedule III of the

EQUITY SHARE CAPITAL :
the exchange rate at that date. Exchange differences

Companies Act, 2013. Based on the nature of
Profit for the year ended March 31, 2022
Profit for the year ended March 31, 2023
arising on the settlement of monetary items or on

products and the time between the acquisition of
As per our report of even date
translating monetary items at rates different from

assets for processing and their realisation into cash
As at March 31, 2023
those at which they were translated on initial

Balances as at March 31, 2023
Balances as at March 31, 2022
OTHER EQUITY :
per DOLPHY DSOUZA
and cash equivalents, the Company has ascertained

As at April 1, 2021
Chartered Accountants
Membership No. 38730

For S R B C & CO LLP
recognition during the period or in previous period

Balances as at April 1, 2021
its operating cycle as twelve months for the purpose

are recognised in the Statement on Profit and loss in
Date : May 19, 2023
of current/non-current classification of assets and

Payment towards RSU
Payment towards RSU
liabilities. An asset is treated as current when it is : the period.

Place : Mumbai
• Expected to be realised or intended to be sold Non-monetary assets and liabilities denominated in

or consumed in normal operating cycle a foreign currency and measured at historical cost
Partner
are translated at the exchange rate prevalent at the

• Held primarily for the purpose of trading date of the initial transaction.
A.
B.

NOTES TO THE FINANCIAL STATEMENTS

for the year ended March 31, 2023
c) Fair value measurement • Level 3 (if level 1 and 2 feed is not available/ Leasehold improvements are depreciated over prospective basis. The amortisation expense on
The Company measures financial instruments such appropriate) — Valuation techniques for which period of the lease agreement or the useful life, intangible assets is recognised in the Statement of
as derivatives at fair value at each Balance Sheet the lowest level input that is significant to the whichever is shorter. Profit and Loss.
fair value measurement is unobservable.
date. Fair value is the price that would be received The estimated useful lives are as follows : The estimated useful lives are as follows:
on sale of an asset or paid to transfer a liability in an For financial assets and liabilities maturing within
orderly transaction between market participants at one year from the Balance Sheet date and which Type of assets Useful life in years Type of assets Useful life in years
the measurement date. The fair value measurement are not carried at fair value, the carrying amount Buildings* Software 3 to 5 years
is based on the presumption that the transaction approximates fair value due to the short maturity of Factory Building 30 years
these instruments. Trade Marks 5 years
to sell the asset or transfer the liability takes place Other Buildings 50 years
Distribution Rights 10 years
either : For assets and liabilities that are recognised in Plant and Equipment*
the financial statements on a recurring basis, the Anaesthetic Equipment 5 years Intangible assets are de-recognised either on their
• In the principal market for the asset or Company determines whether transfers have disposal or where no future economic benefits are
liability, or Others 5 to 20 years
occurred between levels in the hierarchy by expected from their use. Gains or losses arising
re-assessing categorisation (based on the lowest Furniture and Fixtures 10 years
• In the absence of a principal market, in the from derecognition of such intangible assets
level input that is significant to the fair value Office Equipment
most advantageous market for the asset or are measured as the difference between the net
measurement as a whole) at the end of each Computers* 2 to 5 years
liability disposal proceeds and the carrying amount of the
reporting period. Others 5 to 10 years asset and are recognised in the Statement of Profit
The principal or the most advantageous market
d) Property, plant and equipment Vehicles* 5 years and Loss.
must be accessible by the Company. The fair value
Property, plant and equipment are stated at cost * In respect of these assets, the management estimate of useful
of an asset or a liability is measured using the f) Financial instruments
of acquisition less accumulated depreciation and lives, based on technical assessment is lower than the useful
assumptions that market participants would use A financial instrument is any contract that gives
accumulated impairment losses, if any. Cost for life prescribed under part C of Schedule II to the Companies
when pricing the asset or liability, assuming that additions comprises the purchase price and any Act, 2013. rise to a financial asset of one entity and a financial
market participants act in their economic best other attributable cost of bringing the asset to its liability or equity instrument of another entity.
interest. The residual values, useful lives and methods of
working condition for its intended use.
depreciation of Property, plant and equipment are Financial assets
A fair value measurement of a non-financial asset The Company identifies and determines cost of reviewed at each financial year end and adjusted Recognition and measurement
takes into account a market participant’s ability to each component/part of the Property, plant and prospectively, if appropriate.
generate economic benefits by using the asset in equipment separately, if the component/part has a All financial assets are recognised initially at fair
cost which is significant to the total cost of the plant Capital work in progress is stated at cost, net of value, except for trade receivables plus, in the
its highest and best use or by selling it to another
and equipment and has useful life that is materially accumulated impairment loss, if any. case of financial assets not recorded at 'Fair value
market participant that would use the asset in its
highest and best use. different from that of the remaining plant and e) Intangible assets through profit or loss', transaction costs that are
equipment. attributable to the acquisition of the financial asset.
The Company uses valuation techniques that are Intangible assets that are acquired by the Company
An item of Property, plant and equipment is Financial assets are classified, at initial recognition,
appropriate in the circumstances and for which and that have finite useful lives are measured at cost
derecognised upon disposal or when no future as financial assets measured at fair value or as
sufficient data are available to measure fair value, less accumulated amortisation and accumulated
economic benefits are expected to arise from 'Financial assets measured at amortised cost'.
impairment losses, if any.
maximising the use of relevant observable inputs the continued use of the asset. Gains or losses However trade receivables that do not contain a
and minimising the use of unobservable inputs. arising from derecognition of Property, plant and Amortisation is recognised on a straight-line basis significant financing component are measured at
Where required/appropriate, external valuers are equipment are measured as the difference between over the estimated useful lives of intangible assets. transaction price
involved. the net disposal proceeds and the carrying amount Intangible assets that are not available for use are
amortised from the date they are available for use. For purposes of subsequent measurement, financial
of the asset and are recognised in the Statement of
All assets and liabilities for which fair value is assets are classified in following categories :
Profit and Loss.
measured or disclosed in the financial statements Intangible assets are tested for impairment when
Depreciation of these assets commences when the there are indications that the carrying value may not • Financial assets at amortised cost
are categorised within the fair value hierarchy,
described as follows, based on the lowest level input assets are ready for their intended use. Depreciation be recoverable. Intangible assets are carried at cost, • Financial assets at fair value
that is significant to the fair value measurement as a is recognised on the cost of assets (other than net of accumulated amortisation and accumulated
Capital work-in-progress) less their residual values impairment losses, if any. A financial asset is measured at amortised cost net
whole :
on straight-line method over their useful lives as of impairment, if the objective of the Company's
• Level 1 — Quoted (unadjusted) prices in active indicated in Part C of Schedule II of the Companies Intangible assets are amortised over the useful business model is to hold the financial asset to collect
markets for identical assets or liabilities. Act, 2013 and based on technical parameters/ economic life and intangible assets are assessed the contractual cash flows and the contractual terms
assessments. The management believes that useful for impairment whenever there is an indication of the financial asset give rise on specified dates to
• Level 2 (if level 1 feed is not available/ lives currently used fairly reflect its estimate of that the intangible asset may be impaired. The
cash flows that are solely payments of principal and
appropriate) — Valuation techniques for which the useful lives and residual values of Property, amortisation period and the amortisation method
interest on the principal amount outstanding.
the lowest level input that is significant to the plant and equipment, though these lives in certain for an intangible asset are reviewed at least at the
fair value measurement is directly or indirectly cases are different from lives prescribed under end of each reporting period with the effect of All other financial assets are measured at fair value
observable. Schedule II. any changes in estimate being accounted for on a through Statement of Profit and Loss.


Derecognition Derecognition is used to provide for impairment loss. However, if Company as a lessee
A financial asset (or, where applicable, a part of a A financial liability is derecognised when the credit risk has increased significantly, lifetime ECL The Company applies a single recognition and
financial asset or part of a group of similar financial obligation under the liability is discharged or is used. If, in a subsequent period, credit quality of measurement approach for all leases, except for
assets) is primarily derecognised (i.e. removed from cancelled or expires. When an existing financial the instrument improves such that there is no longer short-term leases. The Company recognises lease
the Company’s Balance Sheet) when: liability is replaced by another from the same lender a significant increase in credit risk since initial liabilities to make lease payments and Right-
on substantially different terms, or the terms of recognition, then the entity reverts to recognising of-use assets representing the right to use the
• The contractual rights to receive cash flows impairment loss allowance based on twelve month underlying assets.
an existing liability are substantially modified,
from the asset have expired, or ECL.
such an exchange or modification is treated as i) Right-of-use assets
• The Company has transferred its rights the derecognition of the original liability and ECLs are measured in a manner that they reflect The Company recognises Right-of-use assets
to receive contractual cash flows from the the recognition of a new liability. The difference unbiased and probability weighted amounts at the commencement date of the lease (i.e.,
asset or has assumed an obligation to pay the between the carrying amount of the financial determined by a range of outcomes, taking into the date the underlying asset is available for
received cash flows in full without material liability derecognised and the consideration paid account the time value of money and other use). Right-of-use assets are measured at
delay to a third party under a ‘pass-through’ and payable is recognised in profit or loss. cost, less any accumulated depreciation and
reasonable information available as a result of past
arrangement, and either (a) the Company has accumulated impairment losses, and adjusted
Offsetting of financial instruments events, current conditions and forecasts of future
transferred substantially all the risks and for any remeasurement of lease liabilities. The
Financial assets and financial liabilities are offset economic conditions.
rewards of the asset, or (b) the Company has cost of Right-of-use assets includes the amount
neither transferred nor retained substantially and the net amount is reported in the Balance Sheet Non-financial assets of lease liabilities recognised, initial direct
all the risks and rewards of the asset, but has if there is a legally enforceable right to offset the
The carrying amount of non-financial assets are costs incurred, and lease payments made at or
transferred control of the asset. recognised amounts and there is an intention to
assessed at each reporting date to ascertain whether before the commencement date less any lease
settle on a net basis or realise the assets and settle
On derecognition of a financial asset in its entirety, there is any indication of impairment. If any such incentives received. Right-of-use assets are
the liabilities simultaneously.
the difference between the asset’s carrying amount indication exists or when annual impairment depreciated on a straight-line basis over the
and the sum of the consideration receives recognised g) Impairment testing for an asset is required, then the asset’s shorter of the lease term and the estimated
Financial assets recoverable amount is estimated. An impairment useful lives of the assets, as follows :
in Statement of profit and loss.
A financial asset is assessed at each reporting date to loss is recognised, as an expense in the Statement • Leasehold Land : Over lease period which
Financial liabilities
determine whether there is any objective evidence of Profit and Loss, for the amount by which the is 95 years
Recognition and measurement asset’s carrying amount exceeds its recoverable
that it is impaired. A financial asset is considered • Buildings : 2 to 9 years
All financial liabilities are recognised initially at to be impaired, if objective evidence indicates that amount. The recoverable amount is the higher of an
fair value plus, in the case of financial liabilities one or more events have had a negative effect on the asset’s fair value less cost to sell and value in use. • Furniture and Fixtures : 5 years
not recorded at 'Fair value through profit or loss', estimated future cash flows of that asset. Value in use is ascertained through discounting of • Vehicles : 2 to 5 years
transaction costs that are attributable to the the estimated future cash flows using a discount
acquisition of the financial liabilities. Financial In accordance with Ind AS 109, the Company applies If ownership of the leased asset transfers to
rate that reflects the current market assessments
liabilities are classified, at initial recognition, as Expected Credit Loss (ECL) model for measurement the Company at the end of the lease term or the
of the time value of money and the risk specific to
and recognition of impairment loss on the following cost reflects the exercise of a purchase option,
either 'Financial liabilities at fair value through the assets. For the purpose of assessing impairment,
financial assets and credit risk exposure: depreciation is calculated using the estimated
profit or loss' or 'Other Financial Liabilities'. assets are grouped at the lowest levels into cash
useful life of the asset.
a) Trade receivables or any contractual right to generating units for which there are separately
For purposes of subsequent measurement, financial
receive cash or another financial asset that identifiable cash flows. The Right-of-use assets are also subject to
liabilities are classified in following categories :
result from transactions that are within the impairment. Refer to the accounting policies in
(a) Financial liabilities are classified as 'Financial An impairment loss recognised in prior years are
scope of Ind AS 115 Note 2.3 (g) Impairment - non-financial assets.
liabilities at fair value through profit or loss', reversed if there has been a change in the estimates
b) Other financial assets which are measured at used to determine the recoverable amount. An ii) Lease Liabilities
if they are held for trading or if they are
amortised cost impairment loss is reversed only to the extent that At the commencement date of the lease, the
designated as financial liabilities at fair value
through profit or loss. These are measured The Company follows simplified approach for the asset’s carrying amount does not exceed the Company recognises lease liabilities measured
initially at fair value with subsequent changes recognition of impairment loss allowance on Trade carrying amount that would have been determined, at the present value of lease payments to be
recognised in Statement of Profit and Loss. receivables. The Company recognises impairment net of depreciation or amortisation, if no impairment made over the lease term. The lease payments
had been recognised in previous years. include fixed payments (including in substance
loss allowance based on lifetime ECLs at each
(b) Other financial liabilities, are subsequently fixed payments) less any lease incentives
reporting date, right from its initial recognition. h) Leases
measured at amortised cost are determined receivable. The lease payments also include the
based on the Effective Interest Rate (EIR) For recognition of impairment loss on other financial The Company assesses at contract inception exercise price of a purchase option reasonably
method. Interest expense that is not capitalised assets and risk exposure, the Company determines whether a contract is, or contains, a lease. That is, if certain to be exercised by the Company and
as part of costs of an asset is included in the that whether there has been a significant increase in the contract conveys the right to control the use of payments of penalties for terminating the
‘Finance costs’ line item in the Statement of the credit risk since initial recognition. If credit risk an identified asset for a period of time in exchange lease, if the lease term reflects the Company
Profit and Loss. has not increased significantly, twelve month ECL for consideration. exercising the option to terminate.


In calculating the present value of lease finished goods further includes other costs incurred one or more uncertain future events not wholly a product sale. This allowance is based on the
payments, the Company uses its incremental in bringing the inventories to their present location within the control of the Company; or Company’s estimate of expected sales returns.
borrowing rate at the lease commencement and condition.
• a present obligation that arises from past With respect to established products, the Company
date because the interest rate implicit in the
Cost of stock-in-trade includes cost of purchase and events but is not recognised because : considers its historical experience of sales returns,
lease is not readily determinable. After the
other costs incurred in bringing the inventories to levels of inventory in the distribution channel,
commencement date, the amount of lease - it is not probable that an outflow of
their present location and condition. estimated shelf life, product discontinuances,
liabilities is increased to reflect the accretion resources embodying economic benefits
of interest and reduced for the lease payments price changes of competitive products, and the
Net realisable value is the estimated selling price in will be required to settle the obligation;
made. In addition, the carrying amount of introduction of competitive new products, to the
the ordinary course of business, less estimated costs or
lease liabilities is remeasured if there is a extent each of these factors impact the Company’s
of completion and estimated costs necessary to
modification, a change in the lease term, a make the sale. However, materials and other items - the amount of the obligation cannot be business and markets. With respect to new products
change in the lease payments (e.g., changes to held for use in the production of inventories are not measured with sufficient reliability. introduced by the Company, such products have
future payments resulting from a change in written down below cost if the finished products in historically been either extensions of an existing
l) Revenue
an index or rate used to determine such lease which they will be used are expected to be sold at or line of product where the Company has historical
Revenue from contracts with customers experience or in therapeutic categories where
payments) or a change in the assessment of an above cost.
option to purchase the underlying asset. Revenue from contracts with customers is established products exist.
j) Cash and cash equivalents recognised when control of the goods or services
The Company’s lease liabilities are presented Rendering of services
Cash and cash equivalents in the Balance Sheet are transferred to the customer at an amount that
within the Balance Sheet under Financial reflects the consideration to which the Company Service income is recognised as per the terms of the
comprise cash at banks and on hand and short-term
Liabilities (Refer Note 5). contracts/arrangements when related services are
deposits with a maturity of three months or less, expects to be entitled in exchange for those goods
iii) Short-term leases which are subject to an insignificant risk of changes or services. The Company has concluded that it is performed and is stated net of GST.
The Company applies the short-term lease in value. the principal in all of its revenue arrangements Contract balances :
recognition exemption to its short-term leases since it is the primary obligor in all the revenue
For the purpose of the Statement of Cash Flows, Trade receivables
(i.e. those leases that have a lease term of twelve arrangements as it has pricing latitude and is also
cash and cash equivalents consist of cash and short-
months or less from the commencement date exposed to inventory risks. A receivable represents the Company's right to an
term deposits, as defined above, net of outstanding
and do not contain a purchase option). Lease amount of consideration that is unconditional (i.e.,
bank overdrafts, if any, as they are considered an Goods and Services Tax (GST) is not received by
payments on short-term leases are recognised only the passage of time is required before payment
integral part of the Company’s cash management. the Company on its own account. Rather, it is tax
as expense. of the consideration is due).
k) Provisions and contingencies collected on value added to the commodity by the
Company as a lessor seller on behalf of the government. Accordingly, it is Contract assets
Provisions excluded from revenue.
Leases in which the Company does not A contract asset is the right to consideration in
A provision is recognised if, as a result of a exchange for goods or services transferred to the
transfer substantially all the risks and rewards Sale of products
past event, the Company has a present legal or customer. If the Company performs its obligations
incidental to ownership of an asset are
constructive obligation and it is probable that an Revenue from sale of products is recognised at the by transferring goods or services to a customer
classified as operating leases. Rental income
outflow of resources embodying economic benefits point in time when control of the asset is transferred before the customer pays consideration or before
arising is accounted for over the lease terms.
will be required to settle the obligation. Provisions to the customer, generally on delivery of the payment is due, a contract asset is recognised for the
Initial direct costs incurred in negotiating
are determined by discounting the expected future products. Invoices are payable within contractually earned consideration that is conditional.
and arranging an operating lease are added to
the carrying amount of the leased asset and cash flows at a pre-tax rate that reflects current agreed credit period.
market assessments of the time value of money and Contract liabilities
recognised over the lease term on the same The Company considers whether there are
basis as rental income. the risks specific to the liability. Where discounting A contract liability is the obligation to transfer
other promises in the contract that are separate
is used, the increase in the provision due to the goods or services to a customer for which the
i) Inventories performance obligations to which a portion of
passage of time is recognised as a finance cost. Company has received consideration (or an amount
the transaction price needs to be allocated. In
Inventories consists of raw materials, packing Provision for sales return and date expiry of consideration is due) from the customer. If a
determining the transaction price for the sale of
materials, work-in-progress, stock-in-trade and customer pays consideration before the Company
The Company as per trade practice accepts returns products, the Company considers the effects of
finished goods. Inventories are valued at lower of transfers goods or services to the customer, a
from market which are primarily in the nature of variable consideration (if any).
cost and net realisable value. Cost is determined on contract liability is recognised when the payment is
First-In-First-Out basis. expired or near expiry products. Provisions for Revenue from sale of products is stated exclusive of received from customer or due, whichever is earlier.
such returns are estimated on the basis of historical Goods and Services Tax (GST). Revenues are net of
Cost of raw materials and packing materials Contract liabilities are recognised as revenue when
experience, market conditions and specific sales returns, discounts, provision for anticipated
includes cost of purchase and other costs incurred the Company performs under the contract.
contractual terms and are provided for.
in bringing the inventories to their present location returns on expiry, made on the basis of management
m) Interest income
and condition. Contingencies expectations.
Interest income from a financial asset is recognised
A contingent liability is : Sales returns
Cost of work-in-progress and finished goods when it is probable that the economic benefits will
includes direct materials, labour and proportion • a possible obligation that arises from past The Company accounts for sales returns accrual by flow to the Company and the amount of income can
of manufacturing overheads based on the normal events and whose existence will be confirmed recording an allowance for sales returns concurrent be measured reliably. Interest income is accrued on a
operating capacity, wherever applicable. Cost of only by the occurrence or non-occurrence of with the recognition of revenue at the time of time basis, by reference to the principal outstanding


and at the effective interest rate applicable, which is calculated by estimating the amount of future o) Income Tax p) Research and development
is the rate that exactly discounts estimated future benefit that employee has earned in exchange of Current income tax Research costs are expensed as incurred.
cash receipts through the expected life of the their service in the current and prior periods and Income Tax expense comprises of current and Development costs of products are also charged to
financial asset to that asset’s net carrying amount discounted back to the current valuation date to deferred tax and includes any adjustments related the Statement of Profit and Loss, unless a product's
on initial recognition. Interest income is included in arrive at the present value of the defined benefit to past periods in current and/or deferred tax technical feasibility has been established, in which
'Other Income' in the Statement of Profit and Loss. obligation. The present value of the defined benefit adjustments that may become necessary due to case such expenditure is capitalised.
obligation is deducted from the fair value of plan certain developments or reviews during the relevant
n) Employee benefits Development expenditures on an individual project
assets, to arrive at the net asset/(liability), which period. The provision for current tax is made at
Short-term employment benefits : need to be accounted for in the books of accounts of the rate of tax as applicable for the income of the are recognised as an intangible asset when the
All employee benefits payable within twelve months the Company. previous year as defined under the Income tax Act, Company can demonstrate :
of service such as salaries, wages, bonus, ex-gratia, 1961.
The discount rate used to arrive at the present value • The technical feasibility of completing the
medical benefits, sick leave, casual leave etc. are Current income tax relating to items recognised, intangible asset so that the asset will be
of the defined benefit obligations is based on the
recognised in the year in which the employees either in other comprehensive income or directly available for use or sale
Indian government security yields prevailing as
render the related service and are presented as in equity, is also recognised in other comprehensive
at the Balance Sheet date that have maturity date • Its intention to complete and its ability and
current employee benefit obligation within the income or in equity, as appropriate and not in
equivalent to the tenure of the obligation. intention to use or sell the asset
Balance Sheet. Termination benefits are recognised the Statement of Profit and Loss. Management
as an expense as and when incurred. The current service cost of the defined benefit periodically evaluates positions taken in the tax • How the asset will generate future economic
plan, recognised in the Statement of Profit and returns with respect to situations in which applicable
Short-term leave benefit is provided at undiscounted benefits
Loss as employee benefits expense, reflects the tax regulations are subject to interpretation and
amount during the accounting period based on the establishes provisions where appropriate. • The availability of resources to complete the
increase in the defined benefit obligation resulting
service rendered by employees. asset
from employee service in the current year, benefit Current tax assets and current tax liabilities are
Defined contribution plan : changes, curtailments and settlements. Past service offset when there is a legally enforceable right to set • The ability to measure reliably the expenditure
Contributions to defined contribution schemes such costs are recognised in statement of profit and loss off the recognised amounts and there is an intention during development
in the period of a plan amendment. The net interest to settle the asset and the liability on a net basis.
as State governed Provident Fund and Employee
cost is calculated by applying the discount rate to The amount capitalised comprises expenditure
Pension Scheme, Employees’ State Insurance Deferred tax
the net balance of the defined benefit obligation and that can be directly attributed or allocated on
Scheme, Superannuation, Employees’ Deposit Deferred tax is recognised using the Balance Sheet
the fair value of plan assets. This cost is included a reasonable and consistent basis to creating,
Linked Insurance and Group Life Insurance are approach on temporary differences at the reporting
in employee benefit expense in Statement of Profit producing and making the asset ready for its
charged as an expense based on the amount of date between the tax bases of assets and liabilities
and Loss. Actuarial gains and losses arising from intended use. Property, plant and equipment utilised
contribution required to be made as and when and their carrying amounts for financial reporting
experience adjustments and changes in actuarial for research and development are capitalised and
services are rendered by the employees. The above purposes at the reporting date.
assumptions are charged or credited to OCI in depreciated in accordance with the policies stated
benefits are classified as defined contribution
the period in which they arise and is reflected The carrying amount of deferred tax assets is for Property, plant and equipment and depreciation.
schemes and the Company has no further defined reviewed at each reporting date and reduced to the
obligations beyond the contributions. immediately in retained earnings and is not q) Earnings per equity share
reclassified to Statement of Profit and Loss. extent that it is no longer probable that sufficient
If the contribution payable to the scheme for service taxable profit will be available to allow all or part of The Company presents basic and diluted earnings
received before the Balance Sheet date exceeds the When the benefits of the plan are changed or when the deferred tax asset to be utilised. Unrecognised per share ('EPS') data for its equity shares.
a plan is curtailed or settlement occurs, the portion deferred tax assets are re-assessed at each reporting
contribution already paid, the deficit payable to the The Basic EPS is computed by dividing the net
of the changed benefit related to past service date and are recognised to the extent that it has
scheme is recognised as a liability after deducting profit after tax for the year attributable to the equity
by employees or the gain or loss on curtailment become probable that future taxable profits will
the contribution already paid. If the contribution allow the deferred tax asset to be recovered. shareholders of the Company by weighted average
or settlement, is recognised immediately in
already paid exceeds the contribution due for number of equity shares outstanding during the year.
the Statement of Profit and Loss when the plan Deferred tax assets and liabilities are measured at
services received before the Balance Sheet date,
amendment or when a curtailment or settlement the tax rates that are expected to apply in the year Diluted earnings per equity share are computed by
then excess is recognised as an asset to the extent
occurs. when the asset is realised or the liability is expected dividing the net profit attributable to equity holders
that the pre-payment will lead to a reduction in
to be settled, based on tax rates and tax laws that of the Company by the weighted average number of
future payment or a cash refund. Other employee benefits :
have been enacted or substantively enacted at the equity shares considered for deriving basic earnings
Defined benefit plan : Other employee benefits comprise of leave reporting date. per equity share and also the weighted average
encashment which is provided for, based on the
The Company has defined benefit plan in the form of Deferred tax relating to items recognised, either number of equity shares that could have been issued
actuarial valuation carried out as at the end of the
Gratuity, Long Service Benefits and Post Retirement in other comprehensive income or in equity, is also upon conversion of all dilutive potential equity shares.
year. recognised in other comprehensive income or in
Medical Benefits as per policies of the Company. The dilutive potential equity shares are adjusted for
The liability in respect of defined benefit plans is Liabilities recognised in respect of other employee equity, as appropriate and not in the Statement of the proceeds receivable had the equity shares been
calculated using the projected unit credit method benefits are measured at the present value of the Profit and Loss. actually issued at fair value (i.e. the average market
with actuarial valuations being carried out at the estimated future cash outflows expected to be made Deferred tax assets and deferred tax liabilities are value of the equity shares). Dilutive potential equity
end of each annual reporting period. The Company’s by the Company in respect of services provided by offset, if a legally enforceable right exists to set-off shares are deemed converted as of the beginning of
net obligation in respect of the defined benefit plan employees up to the reporting date. current tax assets against current tax liabilities. the period unless issued at a later date.


r) Share based compensation a) Ind AS 1 - Presentation of Financial Statements - 3 PROPERTY, PLANT AND EQUIPMENT
Abbott Laboratories, USA, being the Ultimate This amendment requires the entities to disclose Buildings Plant and
their material accounting policies rather than their Leasehold Furniture Office
Holding Company, has given restricted stock option (Refer Note Equipment (Refer Vehicles Total
Improvements and fixtures Equipment
plan to the employees of the Company. significant accounting policies. The effective date (b) and (c)) Note (a))
for adoption of this amendment is annual periods At cost or deemed cost
Pursuant to Ind AS 102 'Share-based Payment', beginning on or after April 1, 2023. The Company
the Company recognises an expense based on the As at April 1, 2021 0.84 52.42 91.32 5.39 36.87 0.17 187.01
has evaluated the amendment and there is no impact
fair value of the stock options as at grant date. The on its financial statements. Additions 0.01 1.99 29.39 0.81 8.75 0.16 41.11
expenses are amortised over the vesting period. The Disposals - (0.12) (0.40) (0.22) (0.22) (0.17) (1.13)
corresponding credit is given to equity because the b) Ind AS 8 - Accounting Policies, Changes in
Accounting Estimates and Errors - This amendment As at March 31, 2022 0.85 54.29 120.31 5.98 45.40 0.16 226.99
award represents in substance equity contribution
by the Parent Company. The cumulative expense has introduced a definition of ‘accounting estimates’ Additions - 1.17 21.41 0.29 9.27 - 32.14
recognised for stock options at each reporting date and included amendments to Ind AS 8 to help Disposals (0.12) - (2.24) (0.70) (4.27) - (7.33)
until the vesting date reflects the extent to which the entities distinguish changes in accounting policies
As at March 31, 2023 0.73 55.46 139.48 5.57 50.40 0.16 251.80
vesting period has expired and the Company’s best from changes in accounting estimates. The effective
estimate of the number of equity instruments that date for adoption of this amendment is annual
will ultimately vest. periods beginning on or after April 1, 2023. The Accumulated depreciation
Company has evaluated the amendment and there As at April 1, 2021 0.40 9.28 48.95 3.08 21.82 0.17 83.70
The stock based compensation cost is recharged is no impact on its financial statements.
to the Company upon exercise, which is adjusted Depreciation charge for the year 0.14 1.64 9.83 0.41 8.94 0.03 20.99
against Share Based Compensation Reserve. c) Ind AS 12 - Income Taxes - The amendments Disposals - (0.03) (0.32) (0.17) (0.20) (0.17) (0.89)
narrow the scope of the initial recognition
2.4 Recent accounting pronouncements As at March 31, 2022 0.54 10.89 58.46 3.32 30.56 0.03 103.80
exception under Ind AS 12, so that it no longer
Ministry of Corporate Affairs (‘MCA’) notifies new applies to transactions that give rise to equal Depreciation charge for the year 0.11 1.71 12.51 0.45 9.55 0.03 24.36
standards or amendments to the existing standards taxable and deductible temporary differences. The Disposals (0.12) - (1.68) (0.53) (4.26) - (6.59)
under Companies (Indian Accounting Standards) Rules effective date for adoption of this amendment is As at March 31, 2023 0.53 12.60 69.29 3.24 35.85 0.06 121.57
as issued from time to time. On March 31, 2023, MCA annual periods beginning on or after April 1, 2023.
amended the Companies (Indian Accounting Standards) The Company is currently assessing the impact of
Amendment Rules, 2023, as below: the amendments. Net carrying value
As at March 31, 2023 0.20 42.86 70.19 2.33 14.55 0.10 130.23
As at March 31, 2022 0.31 43.40 61.85 2.66 14.84 0.13 123.19
Notes :
a) Included in Plant and Equipment are anaesthetic equipments, installed at various hospitals free of cost with the intention
of procuring business for the Company's products :
Net carrying value

Class of Asset As at As at
March 31, 2023 March 31, 2022
Plant and Equipment 4.12 2.45
b) Included in Buildings is an amount of ` 0.00* Crores (March 2022 : ` 0.00* Crores) representing value of shares in
co-operative housing society.


c) Title deeds of Immovable Property not held in the name of the Company : 4 INTANGIBLE ASSETS
Whether title deed Software Trade Marks Distribution Rights Total
Gross carrying holder is a promoter, At Cost
Relevant line Description Property
value as at Title deeds held in director or relative of Reason for not being held in the
item in the of item of held since As at April 1, 2021 6.45 0.86 - 7.31
March 31, 2023 the name of promoter/director or name of the Company
Balance sheet property which date
(` in Crores) employee of promoter/ Additions 0.13 - 8.52 8.65
director
Disposals (0.15) - - (0.15)
Property, Building- 6.35 M/s Boots No July 1, The property is held in
As at March 31, 2022 6.43 0.86 8.52 15.81
Plant and Chembur Pharmaceuticals 1996 the erstwhile name of the
Equipment Limited Company. Additions 0.17 - - 0.17
Property, Building- 0.16 M/s Duphar No May 15, The said property is held Disposals (0.01) - - (0.01)
Plant and Chennai Interfan Ltd 1989 in the name of Duphar As at March 31, 2023 6.59 0.86 8.52 15.97
Equipment Interfran Limited, which
was demerged into a new
Accumulated Amortisation
entity - Solvay Pharma
India Limited (SPIL). As at April 1, 2021 5.51 0.63 - 6.14
SPIL was ultimately Amortisation charge for the year 0.38 0.17 0.64 1.19
merged with the Disposals (0.15) - - (0.15)
Company and the deed of As at March 31, 2022 5.74 0.80 0.64 7.18
merger was filed by the
Amortisation charge for the year 0.37 0.06 0.85 1.28
Company.
Disposals (0.01) - - (0.01)
Property, Building - 30.34 M/s Solvay No May 19, The said property was
Plant and Goregaon Pharma India 2009 acquired by the Company As at March 31, 2023 6.10 0.86 1.49 8.45
Equipment Limited pursuant to the Scheme
of Amalgamation of Net carrying value
Solvay Pharma India As at March 31, 2023 0.49 - 7.03 7.52
Limited with the
Company, approved by As at March 31, 2022 0.69 0.06 7.88 8.63
the Hon’ble High Court
5 LEASES
and the deed of merger
has been filed by the A Right-of-use assets :
Company. The Company has lease contracts for various items of Land, Buildings, Vehicles and Furniture & Fixtures used in its
Property, Building - 0.07 M/s Knoll No October The property is held in operations. Leases of Land have lease terms of 95 years, Buildings generally have lease terms between 2 to 9 years, Vehicles
Plant and Goa Pharmceuticals 15, 1997 the erstwhile name of the have lease terms between 2 to 5 years and Furniture & Fixtures have lease terms of 5 years. The Company’s obligations
Equipment Ltd Company. under its leases are secured by the lessor’s title to the leased assets.
d) The amount of contractual commitments for the acquisition of Property, plant and equipment is disclosed in Note 36 (a). Changes in net carrying value of Right-of-use assets for the year ended March 31, 2023 and March 31, 2022 are as follows :
Furniture and
Capital work in progress (CWIP) Ageing Schedule Land Buildings Vehicles Total
Fixtures
Amount in CWIP for a period of Balance as at April 1, 2021 0.34 132.94 2.55 10.47 146.30
As at March 31, 2023 Total
Less than 1 year 1-2 years 2-3 years More than 3 years Additions - 35.39 1.52 - 36.91
Projects in progress 3.66 - - - 3.66 Deletions - - (0.11) - (0.11)
Projects temporarily suspended - - - - - Depreciation (0.01) (40.28) (0.96) (2.67) (43.92)
Total 3.66 - - - 3.66 Balance as at March 31, 2022* 0.33 128.05 3.00 7.80 139.18
Additions - 5.59 1.45 - 7.04
Amount in CWIP for a period of
As at March 31, 2022 Total Deletions - (2.57) (0.16) - (2.73)
Less than 1 year 1-2 years 2-3 years More than 3 years
Depreciation (0.01) (40.36) (1.29) (2.67) (44.33)
Projects in progress 0.66 - - - 0.66
Balance as at March 31, 2023* 0.32 90.71 3.00 5.13 99.16
Projects temporarily suspended - - - - -
* Includes ` 2.07 Crores (March 31, 2022 : ` 3.12 Crores) towards deferred lease assets. Out of this deferred lease assets, ` 1.80 Crores (March 31, 2022
Total 0.66 - - - 0.66 : ` 2.74 Crores) is towards deposit given to related party (Refer Note 38 (D)).
* below ` 50,000/-


B Lease liabilities : 6 NON-CURRENT FINANCIAL ASSETS - OTHERS (UNSECURED, CONSIDERED GOOD)

Set out below are the carrying amounts of lease liabilities and the movements during the period : As at As at
March 31, 2023 March 31, 2022
As at As at
March 31, 2023 March 31, 2022 Deposits with body corporates and others :
Opening balance* 151.69 152.58 For premises with a Related party (Refer Note 38 (D)) 12.96 12.03
Additions 6.93 36.82 For premises with others 0.90 0.84
Accretion of interest 11.75 14.72 Against tenders (Refer (a) below) 0.12 0.12
Termination (3.33) (0.11) Margin deposit and deposit against guarantees and tenders 3.66 3.11
Payments (53.87) (52.32) Term deposits with original maturity of more than twelve months 1,137.00 -
Closing balance* 113.17 151.69 Interest accrued but not due on bank deposits 34.36 -
Current 45.68 42.95 Expected reimbursement towards likely sales return - reimbursable (Refer Note 16) 33.07 27.05
Non-Current 67.49 108.74 1,222.07 43.15
* Includes ` 59.21 Crores (March 31, 2022 : ` 86.10 Crores) pertaining to lease liabilities towards related party (Refer Note 38 (D)). (a) Deposits against tenders :
Secured, considered good - -
The maturity analysis of lease liabilities are disclosed in Note 40.
Unsecured, considered good 0.12 0.12
C Impact on Profit or Loss :
Credit impaired deposits 4.24 4.64
4.36 4.76
March 31, 2023 March 31, 2022
Less : Allowance for credit impaired deposits (4.24) (4.64)
Depreciation of Right-of-use assets (Refer Note 29) 44.33 43.92
0.12 0.12
Finance costs (Refer Note 28) 11.75 14.72
Expense relating to short-term leases (Refer Note 30) 0.26 0.32 7 OTHER NON-CURRENT ASSETS (UNSECURED, CONSIDERED GOOD)
Gain on early termination of leases (Refer Note 24) 0.60 -*
As at As at
Total amount recognised in profit or loss 56.94 58.96 March 31, 2023 March 31, 2022
* below ` 50,000/- Capital advances 0.86 1.77
Balance with Government on account of VAT deposits 0.69 2.16
D Company as lessor :
1.55 3.93
The Company has recognised rent income from leasing of a property amounting to ` 1.15 Crores (March 31, 2022 : ` 1.15
Crores) in the Statement of Profit or Loss under 'Other Income' (Refer Note 24).
8 INVENTORIES (AT LOWER OF COST OR NET REALISABLE VALUE)
Future minimum rentals receivable under non-cancellable operating leases are as follows :
As at As at
March 31, 2023 March 31, 2022
As at As at
March 31, 2023 March 31, 2022 Raw materials and packing materials# 139.21 112.09
Within one year 1.15 1.15 Work-in-progress 15.28 9.34
After one year but not more than five years 1.99 3.14 Finished goods 126.67 97.14
More than five years - - Stock-in-trade@ 367.69 469.25
3.14 4.29 648.85 687.82
#
Includes Goods in Transit `45.97 Crores (March 31, 2022 : `21.47 Crores)
@
Includes Goods in Transit ` 31.61 Crores (March 31, 2022 : `27.58 Crores)
During the year ended March 31, 2023, ` 20.05 Crores (March 31, 2022 : ` 17.72 Crores) was charged to the Statement of Profit
and Loss on account of slow moving, expired and near expiry inventories.


9 TRADE RECEIVABLES 10 CASH AND CASH EQUIVALENTS
As at As at As at As at
Trade receivables 308.71 274.44 Balances with banks
Receivables from related parties (Refer Note 38 (D)) 8.24 13.72 In current accounts 62.17 67.71
316.95 288.16 Deposits with original maturity of less than three months@ 177.50 65.00
Break-up for Trade receivables : 239.67 132.71
@
Represents time deposits at fixed rates maintained with various banks by the Company.
As at As at
March 31, 2023 March 31, 2022
11 BANK BALANCES OTHER THAN CASH AND CASH EQUIVALENTS
Secured, considered good - -
As at As at
Unsecured, considered good 318.81 290.13 March 31, 2023 March 31, 2022
Credit impaired 10.57 10.60 Margin deposit and deposit against guarantees and tenders 1.33 2.38
329.38 300.73 Earmarked bank balance towards dividend# 11.41 9.30
Less : Allowances for expected credit loss (Refer Note 40) (12.43) (12.57) Term deposits with original maturity of more than three months but less than twelve
316.95 288.16 months@* 1,684.65 2,604.83
1,697.39 2,616.51
Trade receivables Ageing Schedule #
These balances are available for use only towards settlement of corresponding unpaid dividend liabilities.
@
Represents time deposits at fixed rates maintained with various banks by the Company.
*Includes Fixed Deposit under lien of ` 1.92 Crores (March 31, 2022 : ` 2.36 Crores)
Outstanding for following periods from due date of payment
Current but
not due Less than 6 6 months – More than Total 12 CURRENT FINANCIAL ASSETS - OTHERS (UNSECURED, CONSIDERED GOOD)
1-2 years 2-3 years
Months 1 year 3 years
As at As at
Undisputed Trade Receivables – March 31, 2023 March 31, 2022
considered good 285.65 29.74 1.91 0.17 0.73 0.61 318.81 Deposits with body corporates and others :
Undisputed Trade receivable – For Premises 5.92 6.03
credit impaired - - - 0.30 0.19 3.44 3.93 Interest accrued but not due on bank deposits 21.54 16.87
Disputed Trade receivable – Receivables from related parties (Refer Note 38 (D)) 6.08 13.24
credit impaired - 0.09 0.15 1.78 1.38 3.24 6.64 Expected reimbursement towards likely sales return - reimbursable (Refer Note 21) 28.77 23.43
Total 285.65 29.83 2.06 2.25 2.30 7.29 329.38 Other receivables 8.17 12.68
70.48 72.25
Current but
Outstanding for following periods from due date of payment 13 OTHER CURRENT ASSETS
Less than 6 months – More than Total
not due 1-2 years 2-3 years As at As at
6 Months 1 year 3 years
March 31, 2023 March 31, 2022
Undisputed Trade Receivables –
Prepaid expenses 6.73 6.97
considered good 253.44 34.04 1.09 0.43 0.41 0.72 290.13
Advances to employees and suppliers 14.54 14.39
Undisputed Trade receivable –
GST receivables 29.88 34.23
credit impaired - - - 0.41 0.38 3.48 4.27
Others (Refer Note 30 (b)) 0.62 -
Disputed Trade receivable –
credit impaired - 0.29 1.22 1.60 0.78 2.44 6.33 51.77 55.59
Total 253.44 34.33 2.31 2.44 1.57 6.64 300.73
There are no trade or other receivables which are due from directors or other officers of the Company either severally or jointly
with any other person. Also, there are no trade or other receivables which are due from firms or private companies, in which any
director is a partner, a director or a member.
For terms and conditions relating to related party receivables, Refer Note 38.
For information on financial risk management objectives and policies, Refer Note 40.


14 EQUITY SHARE CAPITAL No. of shares at the
Change during No. of shares at the % of Total % change during
Authorised share capital : Details of shares held by promoters beginning of the
the year end of the year Shares the year
year
Equity shares of ` 10 each
Number of shares Amount i) Abbott Capital India Ltd., U.K. 1,07,19,097 - 1,07,19,097 50.45% -
As at April 1, 2021 2,75,00,000 27.50 ii) Abbott Healthcare Products Ltd., U.K. 37,44,951 - 37,44,951 17.62% -
Changes during the year - - iii) British Colloids Ltd., U.K. 14,70,000 - 14,70,000 6.92% -
As at March 31, 2022 2,75,00,000 27.50
Changes during the year - - As at March 31, 2022
As at March 31, 2023 2,75,00,000 27.50 i) Abbott Capital India Ltd., U.K. 1,07,19,097 - 1,07,19,097 50.45% -
Terms/rights attached to equity shares ii) Abbott Healthcare Products Ltd., U.K. 37,44,951 - 37,44,951 17.62% -
iii) British Colloids Ltd., U.K. 14,70,000 - 14,70,000 6.92% -
The Company has only one class of equity shares with voting rights having a par value of ` 10 per share. The Company declares
and pays dividends in Indian Rupees (`). The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting except in case of interim dividend. The remittance of dividend outside Dividend paid and proposed
March 31, 2023 March 31, 2022
India is governed by Indian law on foreign exchange and is subject to applicable distribution taxes.
Dividend on equity shares declared and paid :
In the event of liquidation of the Company, the shareholders of equity shares will be entitled to receive remaining assets of the Date of approval (date of Annual General Meeting) August 10, 2022 July 27, 2021
Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders. Final dividend for the year ended March 31, 2022 : ` 145 per share
(March 31, 2021 : ` 120 per share) 308.11 255.00
Issued, Subscribed and Paid up Capital :
Special dividend for the year ended March 31, 2022 : ` 130 per share
Equity shares of ` 10 each fully paid (March 31, 2021 : ` 155 per share) 276.25 329.36
Number of shares Amount
As at April 1, 2021 2,12,49,302 21.25 Proposed dividend on equity shares :

Changes during the year - - Final dividend for the year ended March 31, 2023 : ` 180 per share
(March 31, 2022 : ` 145 per share) 382.49 308.11
As at March 31, 2022 2,12,49,302 21.25
Changes during the year - - Special dividend for the year ended March 31, 2023 : ` 145 per share
(March 31, 2022 : ` 130 per share) 308.11 276.25
As at March 31, 2023 2,12,49,302 21.25
Proposed dividends on equity shares are subject to approval at the Annual General Meeting and are not recognized as a liability
Details of Equity shares of ` 10 each fully paid held by the Holding Company and subsidiaries of the As at As at as at March 31, 2022 and March 31, 2023.
Ultimate Holding Company : March 31, 2023 March 31, 2022
i) 1,07,19,097 (March 31, 2022 : 1,07,19,097) Abbott Capital India Ltd., U.K. (Holding
Company) 10.72 10.72
ii) 37,44,951 (March 31, 2022 : 37,44,951) Abbott Healthcare Products Ltd., U.K.
(Subsidiary of the Ultimate Holding Company) 3.75 3.75
iii) 14,70,000 (March 31, 2022 : 14,70,000) British Colloids Ltd., U.K. (Subsidiary of
the Ultimate Holding Company) 1.47 1.47
The Ultimate Holding Company is Abbott Laboratories, USA.
Details of shareholders holding more than 5% shares in As at March 31, 2023 As at March 31, 2022
the Company Number of shares % Holding Number of shares % Holding
i) Abbott Capital India Ltd., U.K. 1,07,19,097 50.45% 1,07,19,097 50.45%

ii) Abbott Healthcare Products Ltd., U.K. 37,44,951 17.62% 37,44,951 17.62%
iii) British Colloids Ltd., U.K. 14,70,000 6.92% 14,70,000 6.92%
1,59,34,048 74.99% 1,59,34,048 74.99%


Nature and purpose of components of other equity :

2,580.91
798.70
2.92
(584.36)
12.93
(12.56)
-
2,798.54
949.41
3.62
(584.36)
12.22
(12.14)
-
3,167.29
Total Other
1. Amalgamation Reserve
Equity
This was created on amalgamation of Beem Healthcare Limited and Valencia Pharmaceuticals Limited, wholly owned
subsidiary of the Company with appointed date as July 1, 1998. All assets and liabilities of erstwhile Beem Healthcare
Limited and Valencia Pharmaceuticals Limited were transferred to the Company and all shares held by the Company
(9.75)
-
2.92
-
-
-
(6.83)
-
3.62
-
-
-
(3.21)
in erstwhile Beem Healthcare Limited and Valencia Pharmaceuticals Limited were cancelled. The amalgamation was
of defined benefit
Remeasurement
Comprehensive
Items of Other
accounted under 'Pooling of Interests method' as prescribed in then Accounting Standard 14 issued by the Institute of
Income
plan
Chartered Accountants of India. The reserve can be utilised in accordance with the provisions of the Companies Act, 2013.
2. Capital Reserve
This was created on amalgamation of Lenbrook Pharmaceuticals Limited, a wholly owned subsidiary of the Company with
the appointed date as October 1, 2003. All the assets and liabilities of erstwhile Lenbrook Pharmaceuticals Limited were
2,023.93
798.70
(79.87)
(584.36)
-
-
-
2,158.40
949.41
(94.94)
(584.36)
-
-
-
2,428.51
Retained
Earnings
transferred to the Company and all shares held by the Company in the erstwhile Lenbrook Pharmaceuticals Limited were
cancelled. The amalgamation was accounted under the 'Purchase Method' as prescribed in then applicable Accounting
Standards 14 issued by the Institute of Chartered Accountants of India. The reserve can be utilised in accordance with the
provisions of the Companies Act, 2013.
514.33
-
79.87
-
-
0.48
594.68
-
94.94
-
-
1.72
691.34
Reserve
General
3. Capital Redemption Reserve

This was created according to Section 77A of the Companies Act, 1956 by transferring the face value of shares bought back
during the period 2003 to 2008 from free reserves. The reserve can be utilised in accordance with the provisions of the
44.27
-
12.93
(12.56)
(0.48)
44.16
-
12.22
(12.14)
(1.72)
42.52
Compensation
Companies Act, 2013.

Share based
Reserve
4. Share based Compensation Reserve

Reserves and Surplus
The Company's employees are awarded Restricted Stock Units (RSUs) of the Ultimate Holding Company, Abbott
Laboratories, USA. The Share based Compensation Reserve is used to recognise the fair value of the RSUs awarded to
the employees and reserves are used for payments towards RSU charge to the Ultimate Holding Company. The award
2.52
-
-
-
-
2.52
-
-
-
-
2.52
represents in substance equity contributions by the Ultimate Holding Company.
Redemption
Reserve
Capital
5. General Reserve
General Reserve is used from time to time to transfer profits from retained earnings for appropriation purposes. General
Reserve is created by a transfer from one component of equity to another and is not an item of Other Comprehensive
Income. The reserve can be utilised in accordance with the provisions of the Companies Act, 2013.
5.23
-
-
-
-
5.23
-
-
-
-
5.23
Reserve
Capital
6. Retained Earnings
Retained Earnings are the profits the Company has earned till date, less any transfer to General Reserve, dividends or other
* On account of cancellation of share options awarded to employees
distributions paid to the shareholders. The reserve can be utilised in accordance with the provisions of the Companies Act,
0.38
-
-
-
-
0.38
-
-
-
-
0.38
Amalgamation
2013.
Reserve
7. Other Comprehensive Income (Remeasurement of defined benefit plan)

Differences between the interest income on plan assets and the return actually achieved and any changes in the liabilities
over the year due to changes in actuarial assumptions or experience adjustments within the plans, are recognised in ‘Other
Comprehensive Income’ and subsequently not reclassified to the Statement of Profit and Loss.
Dividend for the year ended March
Dividend for the year ended March

Remeasurement of defined benefit
Remeasurement of defined benefit

Compensation Reserve to General
Compensation Reserve to General
16 NON-CURRENT PROVISIONS
Transfer from Profit and Loss to
Transfer from Profit and Loss to

Payment towards RSU Charge
Payment towards RSU Charge
As at As at
Share based compensation to
Share based compensation to
March 31, 2023 March 31, 2022

Transfer from Share based
Transfer from Share based

employees (Refer Note 27)
employees (Refer Note 27)
Provision for employee benefits :

31, 2022 (Refer Note 14)
31, 2021 (Refer Note 14)
OTHER EQUITY

Post Retirement Medical Benefits (Refer Note 34) 0.61 1.11

As at April 1, 2021
Long Service Benefits 2.02 2.13

Profit for the year
Profit for the year

General Reserve
General Reserve
plan (net of tax)
plan (net of tax)
Others :
For likely sales returns and date expiry (Refer Note 22) 57.76 62.11
Reserve*
Reserve*
For likely sales returns - reimbursable (Refer Note 22) 33.07 27.05
93.46 92.40
15


17 INCOME TAXES Deferred tax :
The major components of income tax expense for the years ended March 31, 2023 and March 31, 2022 are : The tax effect of significant temporary differences that resulted in deferred income tax assets and liabilities are as follows :
Extract of Statement of Profit and Loss : Balance Sheet Statement of Profit and Loss
Profit and Loss Section : As at As at For the year ended For the year ended
March 31, 2023 March 31, 2022 Deferred tax assets
Current income tax : Provision for Compensated Absences 10.47 11.85 1.38 (2.61)
Current tax expense 329.41 276.98 Gratuity and Other employee benefits 0.89 0.95 0.06 1.11
Tax adjustment for earlier years (3.81) 4.18 Allowance for credit impaired debts 3.13 3.16 0.03 (0.26)
Deferred tax : Other items deductible under Income Tax Act
on payment basis 5.27 5.30 0.03 4.16
Relating to origination and reversal of temporary differences (1.19) (0.13)
Other items giving rise to temporary
Income tax expense reported in the Statement of Profit and Loss 324.41 281.03
differences 5.32 4.85 (0.47) (1.09)
Other Comprehensive Income (OCI) Section - Deferred tax related to items recognised in OCI during the year : Deferred tax liabilities
Difference between written down value of
For the year ended For the year ended Property, Plant and Equipment as per books of
March 31, 2023 March 31, 2022
accounts and income tax (5.99) (6.58) (0.59) (0.27)
Net loss/(gain) on remeasurement of defined benefit plans (1.22) (0.98) Other items giving rise to temporary
Income tax expense charged to OCI (1.22) (0.98) differences (2.16) (2.57) (0.41) (0.19)
Net deferred tax assets/(liabilities) 16.93 16.96
Reconciliation of tax expense and the accounting profit multiplied by India’s domestic tax rate for March 31, 2023 and
Deferred tax charge/(income) 0.03 0.85
March 31, 2022 :
Deferred tax charge/(income) recognised in
For the year ended For the year ended Profit and Loss (1.19) (0.13)
March 31, 2023 March 31, 2022
Deferred tax charge/(income) recognised in
Accounting profit before income tax 1,273.82 1,079.73 OCI 1.22 0.98
1,273.82 1,079.73 0.03 0.85
At India's statutory income tax rate of 25.168% (March 31, 2022 : 25.168%) 320.60 271.75
Reflected in the Balance Sheet as follows :
Adjustments in respect of current income tax of previous years (3.81) 4.18
Tax impact for Non-deductible expenses for tax purposes 7.62 5.10 As at As at
March 31, 2023 March 31, 2022
324.41 281.03
Deferred tax assets 25.08 26.11
At the effective income tax rate of 25.467% (March 31, 2022 : 26.028%)
Deferred tax liabilities (8.15) (9.15)
Income tax expense reported in the Statement of Profit and Loss 324.41 281.03
Deferred tax assets (net) 16.93 16.96
Reconciliation of deferred tax assets (net) :

March 31, 2023 March 31, 2022
Opening balance as of April 1 16.96 17.81
Tax income/(charge) during the period recognised in Profit and Loss 1.19 0.13
Tax income/(charge) during the period recognised in OCI (1.22) (0.98)
Closing balance as at March 31 16.93 16.96


18 TRADE PAYABLES (a) Details of dues to Micro and Small Enterprises under the Micro, Small and Medium Enterprises Development
As at As at Act, 2006 (MSMED Act, 2006)*
March 31, 2023 March 31, 2022
As at As at
Dues of micro and small enterprises (Refer (a) below) 24.57 32.29 March 31, 2023 March 31, 2022
Dues of creditors other than to micro enterprises and small enterprises (i) The principal amount remaining unpaid to any supplier (but within due date
- Due to related parties (Refer Note 38 (D)) 134.44 116.19 as per the MSMED Act, 2006) 24.57 32.29
- Due to others 732.98 740.97 (ii) Interest due on above remaining unpaid - -
867.42 857.16 (iii) Interest paid by the Company in terms of Section 16 of the Micro, Small and
891.99 889.45 Medium Enterprises Development Act, 2006, alongwith the amount of the
payment made to the supplier beyond the appointed day during the year - -
Trade payables Ageing Schedule (iv) Interest due and payable for the period of delay in making payment (which
As at March 31, 2023 have been paid but beyond the appointed day during the year) but without
adding interest specified under the Micro, Small and Medium Enterprises
Outstanding for following periods from due date of
payment
Development Act, 2006 - -
Current but
Unbilled Total
not due Less than More than 3 (v) Interest accrued and remaining unpaid - -
1-2 years 2-3 years
1 Year years (vi) Interest remaining due and payable even in the succeeding years, until
Total outstanding dues of micro such date when the interest dues as above are actually paid to the small
enterprises and small enterprises - 8.41 16.07 0.05 0.04 - 24.57 enterprises - -
Total outstanding dues of creditors * The above information has been determined to the extent such parties have been identified on the basis of information available with the Company.
other than micro enterprises and small
enterprises 90.01 738.90 38.06 0.22 0.13 0.10 867.42 19 CURRENT FINANCIAL LIABILITIES - OTHERS
Disputed dues of micro enterprises As at As at
and small enterprises - - - - - - - March 31, 2023 March 31, 2022
Disputed dues of creditors other Deposits from customer 0.64 0.64
than micro enterprises and small Payables for capital expenditure 3.78 3.50
enterprises - - - - - - -
Unclaimed dividend # 11.41 9.30
90.01 747.31 54.13 0.27 0.17 0.10 891.99
Salaries, wages, incentives and bonus payable to employees 53.80 53.18
As at March 31, 2022 Deposit from a related party (Refer Note 38 (D)) 0.45 0.45
Outstanding for following periods from due date of Others 7.91 6.11
Current but payment
Unbilled Total 77.99 73.18
not due Less than More than 3
1-2 years 2-3 years #
In respect of the amounts as mentioned under Section 125 of the Companies Act, 2013, no dues are required to be credited to the Investor Education and
1 Year years
Protection Fund as on March 31, 2023 and March 31, 2022.
Total outstanding dues of micro
enterprises and small enterprises - 9.41 22.55 0.31 0.01 0.01 32.29
20 OTHER CURRENT LIABILITIES
Total outstanding dues of creditors
As at As at
other than micro enterprises and small
March 31, 2023 March 31, 2022
enterprises 85.76 702.26 68.58 0.16 0.31 0.09 857.16
Statutory dues including provident fund and tax deducted at source 20.37 27.20
Disputed dues of micro enterprises
and small enterprises - - - - - - - GST payable 2.75 4.46
Disputed dues of creditors other Contract liabilities (Refer Note 23 (c)) 4.71 4.07
than micro enterprises and small Others 25.80 22.16
enterprises - - - - - - - 53.63 57.89
85.76 711.67 91.13 0.47 0.32 0.10 889.45
For terms and conditions relating to related party payables, refer Note 38.
For information on financial risk management objectives and policies, refer Note 40.


21 CURRENT PROVISIONS 23 REVENUE FROM OPERATIONS
As at As at For the year ended For the year ended
Provision for employee benefits : Sale of products 5,284.86 4,848.99
Compensated Absences 41.62 47.08
Post Retirement Medical Benefits (Refer Note 34) 0.07 0.12 Other operating revenue
Long Service Benefits 0.43 0.37 Rendering of services (Refer (a) below) 61.87 61.31
Gratuity (Refer Note 34) 0.42 0.06 Sale of scrap 1.71 1.35
Superannuation 1.37 1.33 Export Incentive 0.29 1.67
Provision for likely sales returns and date expiry (Refer Note 22) 53.51 55.47 63.87 64.33
Provision for likely sales returns - reimbursable (Refer Note 22) 28.77 23.43 Total other operating revenue 5,348.73 4,913.32
126.19 127.86 (a) Rendering of services includes : (Refer Note 38 (C))

22 DISCLOSURE PURSUANT TO IND AS 37 'PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT March 31, 2023 March 31, 2022
ASSET' TOWARDS PROVISIONS FOR SALES RETURN, DATE EXPIRY AND DAMAGED PRODUCTS
Shared and support services rendered to Abbott Healthcare Private Limited, India 51.92 53.63
Likely sales returns Likely sales returns -
Total
Shared and support services rendered to Abbott Products Operations AG.,
& date expiry reimbursable Switzerland 4.76 3.37
Carrying Amount as at April 1, 2021 108.75 50.80 159.55 Shared and support services rendered to Abbott Laboratories GmbH, UAE
Add : Net amount provided/(written back) during the year@ 8.83 (0.32) 8.51 (previously known as Abbott Laboratories S.A., Dubai) 1.86 1.39
Carrying Amount as at March 31, 2022* 117.58 50.48 168.06 Shared and support services rendered to Abbott Laboratories (Singapore) Pte Ltd.,
Add : Net amount provided/(written back) during the year@ (6.31) 11.36 5.05 Singapore 1.86 1.39
Carrying Amount as at March 31, 2023* 111.27 61.84 173.11 Shared and support services rendered to St Jude Medical India Private Limited,
@ Includes unwinding of discount and effect of changes in discount rate on provision of ` 3.75 Crores (March 31, 2022 : ` 3.68 Crores) (Refer Note 28). India 1.23 1.23
* Carrying Amount comprises of : Shared and support services rendered to Abbott Diagnostics Medical Private
As at As at
Limited, India 0.24 0.30
March 31, 2023 March 31, 2022 61.87 61.31
Non-Current provision :
For likely sales returns and date expiry (Refer Note 16) 57.76 62.11 (b) Revenue from contracts with customers :
For likely sales returns - reimbursable (Refer Note 16) 33.07 27.05 For the year ended For the year ended
March 31, 2023 March 31, 2022
Current provision :
For likely sales returns and date expiry (Refer Note 21) 53.51 55.47 India (Goods) 5,214.57 4,763.24
For likely sales returns - reimbursable (Refer Note 21) 28.77 23.43 Outside India (Goods) 70.29 85.75
173.11 168.06 Total revenue from contracts with customers 5,284.86 4,848.99
Nature of provision :
Timing of revenue recognition
The provision is for anticipated returns on expiry which is made on the basis of management expectation taking into account Goods transferred at a point in time 5,284.86 4,848.99
historical experience and market conditions.
Total revenue from contracts with customers 5,284.86 4,848.99
The expected timing of any resulting outflows of economic benefits ranges from 1 month to 40 months.
(c) Contract Balances :

March 31, 2023 March 31, 2022
Trade receivables (Refer Note 9) 316.95 288.16
Contract assets - -
Contract liabilities (Refer Note 20) (4.71) (4.07)
Contract liabilities include short-term advances received from customers for sale of products/services.


(d) Reconciling the amount of revenue recognised in the Statement of Profit and Loss with the contracted price : 26 CHANGES IN INVENTORIES OF FINISHED GOODS, STOCK-IN-TRADE AND WORK-IN-PROGRESS
March 31, 2023 March 31, 2022
March 31, 2023 March 31, 2022
Opening Stock
Revenue as per contracted price 5,425.76 4,963.09
Finished goods 97.14 96.07
Add/(Less) : Adjustments
Stock-in-trade 469.25 439.53
- Sales Return (110.55) (94.85)
Work-in-progress 9.34 17.85
- Discounts (30.35) (19.25) Less : Closing Stock
Net revenue from sale of products and rendering of services 5,284.86 4,848.99 Finished goods (126.67) (97.14)
Information about the Company’s performance obligations are summarized below : Stock-in-trade (367.69) (469.25)
Work-in-progress (15.28) (9.34)
Sale of products :
66.09 (22.28)
The performance obligation is satisfied upon delivery of the product and payment is generally due within six months from
delivery and are non-interest bearing. 27 EMPLOYEE BENEFITS EXPENSE
Rendering of services : For the year ended For the year ended
March 31, 2023 March 31, 2022
The performance obligation is satisfied when related services are performed. Salaries, wages and bonus 507.53 521.30
Contribution to provident and other funds 31.06 30.25
24 OTHER INCOME
Share based compensation to employees 12.22 12.93
For the year ended For the year ended Staff welfare expenses 12.78 14.98
March 31, 2023 March 31, 2022
563.59 579.46
Interest income :
On fixed deposits at amortised cost 140.95 74.79 28 FINANCE COSTS
On Income Tax refund 1.75 - For the year ended For the year ended
On security deposits at amortised cost 1.05 1.00 March 31, 2023 March 31, 2022
On others (from employees and other receivables) at amortised cost 0.31 0.27 Interest expense on lease liabilities (Refer Note 5) 11.75 14.72
Interest expense, other than on lease liabilities 0.49 0.70
Other non-operating income : Unwinding of discount and effect of changes in discount rate on provisions (Refer Note 22) 3.75 3.68
15.99 19.10
Rental income from a related party (Refer Note 38 (C)) 1.15 1.15
Liabilities / provisions no longer required written back 7.08 4.68 29 DEPRECIATION AND AMORTISATION EXPENSE
Gain on early termination of leases (Refer Note 5) 0.60 -*
Gain on sale/write off of Property, plant and equipment (net) - -* March 31, 2023 March 31, 2022
Insurance, customs and carriers claims 0.64 0.74 Depreciation of Property, plant and equipment (Refer Note 3) 24.36 20.99
Others 0.62 0.53 Amortisation of intangible assets (Refer Note 4) 1.28 1.19
154.15 83.16 Depreciation of Right-of-use assets (Refer Note 5) 44.33 43.92
* below ` 50,000/- 69.97 66.10
25 COST OF MATERIALS CONSUMED

March 31, 2023 March 31, 2022
Inventory at the beginning of the year 112.09 164.14
Add : Purchases during the year 585.73 443.41
Less : Inventory at the end of the year (139.21) (112.09)
558.61 495.46


30 OTHER EXPENSES For the year ended For the year ended
March 31, 2023 March 31, 2022
March 31, 2023 March 31, 2022 Gross amount required to be spent by the Company during the year as per
Consumption of stores 8.91 9.90 Section 135 of the Companies Act, 2013 18.74 16.15
Power and fuel 17.15 14.98 Amount approved by the Board to be spent during the year 18.74 16.15
Rent (Refer Note 5) 0.26 0.32
Repairs to buildings 0.81 0.58 Amount spent during the year ending on March 31, 2023 : In cash Yet to be paid in cash Total
Repairs to plant and machinery 5.64 5.21 i) Construction/ acquisition of any asset - - -
Repairs (others) 4.57 4.94 ii) Others :
Insurance 4.14 3.51 On Building Healthcare Infrastructure, STEM
Rates and taxes 27.37 13.17 Education, contrubutions to SEWA (Self Employed
Advertising, publicity and sales promotion 121.60 155.77 Women's Association) and various programmes to
Freight and forwarding charges 39.28 39.19 expand awareness and access to healthcare 9.93 0.68 10.61
Travelling and business meetings 99.40 57.46 iii) Amount unspent during the year 8.75 - 8.75
Commission to carrying and forwarding agents 57.09 54.81 18.68 0.68 19.36
Exchange loss (net) 4.31 4.16
Bad debts written off 0.05 0.19 Amount spent during the year ending on March 31, 2022 : In cash Yet to be paid in cash Total
Less : Adjusted against earlier year's provision (0.05) (0.19) i) Construction/ acquisition of any asset - - -
- - ii) Others :
Allowance for credit impaired debts (0.09) 1.22 On Building Healthcare Infrastructure, Malaria
Professional fees and other services 125.73 153.27 No More, STEM Education, contrubutions to
Loss on sale/write off of Property, plant and equipment (net) 0.26 - SEWA (Self Employed Women's Association) and
various programmes to expand awareness and
Payment to auditors (Refer (a) below) 1.80 1.62
access to healthcare 6.90 0.60 7.50
CSR expenditure (Refer (b) below) 18.74 16.36
iii) Amount unspent during the year 8.86 - 8.86
Miscellaneous expenses 67.48 58.41
15.76 0.60 16.36
604.45 594.88
(a) Payment to auditors : For the year ended For the year ended
March 31, 2023 March 31, 2022
March 31, 2023 March 31, 2022 Details related to spent / unspent obligations :
As auditor : i) Contribution to Public Trust - -
Audit fees 0.96 0.85 ii) Contribution to Charitable Trust 10.61 7.50
Tax audit fees 0.16 0.16 iii) Unspent amount in relation to:
Limited review 0.36 0.34
- Ongoing project 8.75 8.86
- Other than Ongoing project - -
In other capacity :
Other services (including certification fees) 0.28 0.25 19.36 16.36
Reimbursement of expenses 0.04 0.02
1.80 1.62
(b) Details of Corporate Social Responsibility (CSR) expenditure :
The Company believes that innovative, responsible and sustainable business plays an important role in building a healthy,
thriving society. The CSR policy of the Company is focused on fostering economic, environmental and social well-being.
Through CSR initiatives, the Company strives to enhance people’s health and well-being and provide lasting solutions to
development challenges.
As a part of its CSR obligations, the Company undertook following initiatives during the year :
i. Improving Access to Healthcare through Health Clinics
ii. Quality and Affordable Healthcare Delivery Program with SEWA
iii. Building Access to Quality & Affordable Healthcare Infrastructure and Services with Americares
iv. Promoting STEM Education and Healthy Living Among Children – with Smile Foundation


For the year ended For the year ended 33 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS
March 31, 2023 March 31, 2022
The preparation of the Company's financial statements in conformity with Ind AS requires management to make
Details of ongoing project judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities,
Opening Balance and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and
- With Company / In Separate CSR Unspent A/c* 8.86 - estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected
in future periods. The estimates and associated assumptions are based on historical experience and various other factors
Amount required to be spent during the year 19.36 16.36
that are believed to be reasonable under the circumstances existing when the financial statements were prepared. The
Amount spent during the year estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates is recognised in
- From Company’s bank A/c 10.61 7.50 the year in which the estimates are revised and in any future year affected.
- From Separate CSR Unspent A/c 3.56 -
In the process of applying the Company’s accounting policies, management has made the following judgements, estimates
Closing Balance and assumptions, which have the most significant effect on the amounts recognised in the financial statements :
- With Company / In Separate CSR Unspent A/c* 14.05 8.86
Provision for sales return and date expiry
*Subsequently transferred to the CSR unspent account in Apr 2023 and Apr 2022 respectively
The Company as per trade practice accepts returns from market which are primarily in the nature of expired or near
For the year ended For the year ended expiry products. Provisions for such returns are estimated on the basis of historical experience, shelf life of the product
March 31, 2023 March 31, 2022 and market conditions and are provided for accordingly. Also Refer Note 22.
Details of Excess Amount Spent
Uncertainty over income tax treatment
Opening Balance - -
The Company determines whether to consider each uncertain tax treatment separately or together with one or
Amount required to be spent during the year 18.74 -
more other uncertain tax treatments and uses the approach that better predicts the resolution of the uncertainty.
Amount spent during the year 19.36 - The Company applies significant judgement in identifying uncertainties over income tax treatments (Refer Note 36).
Closing Balance 0.62 -
Determining the lease term of contracts
The excess spent in the current year is carried forward to next year and accordingly asset has been created in ‘Other The Company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an
Current assets’ in accordance with Section 135 of the Companies Act, 2013 read with relevant rules thereunder. option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the
lease, if it is reasonably certain not to be exercised.
31 COMPONENTS OF OTHER COMPREHENSIVE INCOME (OCI)
Leases - Estimating the incremental borrowing rate
March 31, 2023 March 31, 2022 The Company cannot readily determine the interest rate implicit in the lease, therefore, it uses its Incremental Borrowing
Remeasurements of defined benefit plan : (Refer Note 34) Rate (IBR) to measure lease liabilities. IBR is the rate of interest that the Company would have to pay to borrow over a
similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset
Gratuity 4.28 1.71
in a similar economic environment. The Company estimates the IBR using observable inputs i.e. bank borrowing interest
Post retirement medical benefit scheme 0.56 2.19 rates on secured assets.
4.84 3.90
Useful lives of Property, plant and equipment
The above has been aggregated in other equity of respective periods.
The Company reviews the useful life of Property, plant and equipment at the end of each reporting period. This reassessment
may result in change in depreciation expense in future periods. Refer Note 2.3 (d) for management estimate of useful lives.
32 EARNINGS PER EQUITY SHARE (EPS)
The following reflects the income and share data used in the Basic and Diluted EPS computations : Defined benefit plans
The cost of the defined benefit gratuity plan and other post employment medical benefits are determined using actuarial
March 31, 2023 March 31, 2022
valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in
the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the
Profit attributable to equity holders for Basic/Diluted earnings 949.41 798.70
complexities involved in the valuation and its long term nature, a defined benefit obligation is highly sensitive to changes
Weighted average number of equity shares for Basic/Diluted EPS* 21,249,302 21,249,302 in these assumptions. All assumptions are reviewed at each reporting date.
Basic/Diluted EPS Rs. (Face value of ` 10 per share) 446.78 375.86
The parameter most subject to change is the discount rate. In determining the appropriate discount rate, the management
* There have been no transactions involving equity shares or potential equity shares between the reporting date and the date of authorisation of these considers the interest rates of government bonds in currencies consistent with the currencies of the post employment
financial statements. benefit obligation.
The mortality rate is based on publicly available mortality tables. Those mortality tables tend to change only at interval
in response to demographic changes. Future salary increase and gratuity increase are based on expected future inflation
rates in the country.
Further details about gratuity and other post employment medical benefits obligations are given in Note 34.


Share based compensation to employees (b) Defined Benefit Plans

The fair value of restricted stock units plan is measured at the date of grant using the Black Scholes option pricing model. i. Gratuity : (Included as part of contribution to provident and other funds in Note 27 - Employee benefits expense)
The estimate also requires determination of the most appropriate inputs to the valuation model, including the volatility,
Gratuity is payable to all eligible employees of the Company on retirement, death, permanent disablement and
dividend yield, risk free interest rates, expected life of share option etc., which are disclosed in the Note 35.
resignation in terms of the provision of the Payment of Gratuity Act 1972, or Company's Scheme whichever is more
Fair value measurement of financial instruments beneficial. Benefits would be paid at the time of the separation based on employees' salary and tenure of employment
with the Company.
When the fair values of financial assets and financial liabilities recorded in the Balance Sheet cannot be measured based
on quoted prices in active markets, their fair value is measured using appropriate valuation techniques. The inputs for ii. Post Retirement Medical Benefits (PRMB) : (Included as part of staff welfare expenses in Note 27 - Employee
these valuations are taken from observable sources where possible, but where this is not feasible, a degree of judgement benefits expense)
is required in establishing fair values. Judgements include considerations of various inputs including liquidity risk, credit
Under this scheme, select group of senior employees and their spouse are covered for hospitalisation benefits after
risk, volatility etc. Changes in assumptions/judgements about these factors could affect the reported fair value of financial
the employee has retired from the Company. The cover is available to these beneficiaries until they are alive. The
instruments. Also Refer Note 39.
Company has procured a group hospitalisation cover from an insurance Company for providing these benefits to
Provision for inventories these beneficiaries.
Provision is made in the financial statements for slow and non-moving items based on estimates regarding their usability. iii. Long Service Benefits (LSB) : (Included as part of salaries and wages in Note 27 - Employee benefits expense)
Further for finished goods and stock-in-trade, all inventories expiring within six months and not expected to be sold, have
been fully provided for. Also Refer Note 8. Under this scheme, long service benefits accrues to the employee, while in service and is payable upon completion of
stipulated service with the Company.
Impairment of trade receivables
Post Retirement Medical Benefits
For the purpose of measuring lifetime expected credit loss allowance of trade receivables, the Company has used a practical Gratuity (Funded)
(Non-funded)
expedient as permitted under Ind AS 109. This expected credit loss allowance is computed based on a provision matrix For the year ended For the year ended For the year ended For the year ended
which takes into account historical credit loss experience and adjusted for forward-looking information. Refer Note 9. March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022
Impairment of other financial assets I) Change in present value of defined

benefit obligation during the year
The loss allowance for other financial assets are based on assumptions about risk of default. The Company uses judgments Present value of defined benefit obligation
in making these assumptions based on its past history, existing market conditions and certainty of realisation. Also Refer at the beginning of the year 83.59 78.88 1.23 3.33
Note 6 and 12.
Interest cost 5.32 4.79 0.08 0.21
34 EMPLOYEE BENEFITS Current service cost 7.04 6.84 - -
Benefits paid (10.27) (6.49) (0.07) (0.12)
(a) Defined contribution plans
Actuarial changes arising from changes
i) Provident Fund/Employees' Pension Fund in financial assumptions (2.97) (1.54) (0.03) (0.03)
ii) Employees' State Insurance Actuarial changes arising from changes
in experience adjustments (0.79) 1.11 (0.53) (2.16)
iii) Superannuation Fund
Present value of defined benefit
iv) Employees' Deposit Linked Insurance Scheme obligation at the end of the year 81.92 83.59 0.68 1.23
v) Group Life Insurance Cover II) Change in fair value of plan assets
during the year
The Company has recognised following amounts as expense in the Statement of Profit and Loss :
Fair value of plan assets at the beginning
For the year ended For the year ended of the year 83.53 76.46 - -
March 31, 2023 March 31, 2022 Interest income 5.56 4.86 - -
Included in contribution to Provident and Other Funds (Refer Note 27) Contributions paid by the employer 2.16 7.42 0.07 0.12
Employer’s contribution to Provident Fund/Employees' Pension Fund 20.80 19.98 Benefits paid from the fund (10.27) (6.49) (0.07) (0.12)
Return on plan assets excluding interest
Employer’s contribution to Superannuation Fund 2.91 3.03
income 0.52 1.28 - -
Included in staff welfare expenses (Refer Note 27) Fair value of plan assets at the end of
Employer’s contribution to Employees’ Deposit Linked Insurance Scheme 0.60 0.46 the year 81.50 83.53 - -
Premium paid in respect of Group Life Insurance Cover 1.78 2.77
Premium paid in respect of Employees' State Insurance Scheme 0.03 0.06


Post Retirement Medical Benefits Post Retirement Medical Benefits
Gratuity (Funded) Gratuity (Funded)
(Non-funded) (Non-funded)
As at As at As at As at As at As at As at As at
March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022
III) Net (asset)/liability recognised in the
VII) Sensitivity analysis for significant
Balance Sheet
assumption is as below :
Present value of defined benefit obligation
at the end of the year 81.92 83.59 0.68 1.23 1. Increase/(decrease) on present value
of defined benefits obligation at the
Fair value of plan assets at the end of the
end of the year
year (unquoted insurer managed funds) (81.50) (83.53) - -
Amount recognised in the Balance Impact of 50 bps increase in discount rate (3.41%) (3.48%) (3.08%) (3.17%)
Sheet/Net funded obligation 0.42 0.06 0.68 1.23 Impact of 50 bps decrease in discount
rate 3.63% 3.71% 3.27% 3.37%
Net liability-current (Refer Note 21) 0.42 0.06 0.07 0.12 Impact of 100 bps increase in healthcare
Net liability-non-current (Refer Note 16) - - 0.61 1.11 cost - - 6.78% 6.96%
Impact of 100 bps decrease in healthcare
Gratuity (Funded) cost - - (6.12%) (6.27%)
(Non-funded)
For the year ended For the year ended For the year ended For the year ended Impact of increase by 1 year in life
March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 expectancy - - 4.88% 5.02%
IV) Expenses recognised in the Statement Impact of decrease by 1 year in life
of Profit and Loss for the year expectancy - - (4.80%) (4.93%)
Current service cost 7.04 6.84 - - Impact of 50 bps increase in rate of salary
Interest cost on benefit obligation (net) (0.24) (0.07) 0.08 0.21 increase 3.07% 3.21% - -
One Year Renewable Term Assurance Impact of 50 bps decrease in rate of salary
(OYRTA) Premium 0.54 0.48 - - increase (3.02%) (3.11%) - -
Total expenses included in Employee
benefits expense (Refer Note 27) 7.34 7.25 0.08 0.21 2. Sensitivity analysis method
V) Recognised in other comprehensive The Sensitivity analyses above have been determined based on a method that extrapolates the impact on defined benefit
income for the year obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.
in financial assumptions (2.97) (1.54) (0.03) (0.03) Gratuity (Funded)
(Non-funded)
in experience adjustments (0.79) 1.11 (0.53) (2.16) As at As at As at As at
Return on plan assets excluding interest
income (0.52) (1.28) - - VIII) The major categories of plan assets as
Recognised in other comprehensive a percentage of total
income for the year (Refer Note 31) (4.28) (1.71) (0.56) (2.19) Insurer managed funds 100% 100% - -
VI) Maturity profile of defined benefit The Trustees have taken Policy from Life Insurance Corporation of India (LIC) and pays premium. LIC in turn manages the
obligation assets which is within the permissible limits prescribed in the insurance regulations. The Company does not foresee any
Within the next 12 months (next annual material risk from these investments.
reporting period) 11.37 12.76 0.07 0.12
Between 2 and 5 years 33.74 32.48 0.27 0.48
Between 6 and 9 years 32.11 29.70 0.25 0.44
For 10 years and above 77.74 77.93 0.63 1.10


Post Retirement Medical Benefits b) Employees Restricted Stock Options Plan (Stocks of Abbott Laboratories, USA, being Ultimate Holding Company)
Gratuity (Funded)
(Non-funded)
Abbott Laboratories, USA as part of the 'Long Term Incentive Program' has offered Restricted Stock Units (RSUs) to
As at As at As at As at
March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 specified employees of its subsidiaries, whereby the employees covered by the plan are granted units. The units when
vested, become shares of Abbott Laboratories, USA at a NIL Cost. The shares of Abbott Laboratories, USA are listed
IX) Actuarial assumptions
with the New York Stock Exchange, USA. The grants issued are vested in one third instalments over a three year period.
Discount rate 7.40% 6.90% 7.40% 6.90% Pursuant to Ind AS 102 'Share-based Payment', the fair value of the RSUs have been recorded by the Company. The fair
Salary escalation 7.5% until year 7.5% until year 2 - - value of the RSUs is estimated at the grant date using Black Scholes Option Pricing Model, taking into account the terms
1 inclusive, and inclusive, and 7% and conditions upon which such RSUs were granted.
7% thereafter thereafter
Mortality rate during employment Indian Assured Indian Assured - - March 31, 2023 March 31, 2022
Lives Mortality Lives Mortality Weighted Average Weighted Average
(2012-14) Ult (2012-14) Ult Number of options
Exercise Price US $
Number of options
Exercise Price US $
table table
Outstanding at the beginning of the year 34,705 NA 28,850 NA
Rate of leaving service Age related Age related - -
Add : Granted during the year 20,129 NA 20,370 NA
Mortality post retirement rate - - S1PA (90) S1PA (90)
Add : Transfers in during the year 1,289 NA 2,357 NA
Mortality table Mortality table
Less : Exercised during the year (13,889) NA (14,348) NA
Annual increase in healthcare costs - - 6% 6%
Less : Cancelled/Expired during the year (5,624) NA (2,524) NA
Expected retirement age of employees
(years) 58 years 58 years 58 years 58 years Less : Transfers out during the year (629) NA - NA
Outstanding at the end of the year 35,981 NA 34,705 NA
Expected contribution to the defined benefit plan (Gratuity) for the next annual reporting period is ` 0.50 Crores (March 31,
2022 : ` 0.10 Crores) The weighted average share price at the date of exercise for stock options exercised during the year was US $ 106.42
(March 31, 2022 : US $ 116.80).
The average duration of the defined benefit plan obligation at the end of the reporting period for Gratuity is 7.03 years (March
31, 2022 : 7.18 years) and for PRMB is 6.35 years (March 31, 2022 : 6.54 years). The weighted average remaining contractual life for the share options outstanding as at March 31, 2023 was 2.47 years
(March 31 2022 : 2.38 years).
Notes :
The following tables list the inputs to the models used for the Restricted Stock Option plan for the years ended March 31,
(i) The actuarial valuation of plan assets and the present value of the defined benefit obligation were carried out as at March
2023 and March 31, 2022, respectively :
31, 2023. The present value of the defined benefit obligation and the related current service cost and past service cost, were
measured using the Projected Unit Credit Method. As at As at
March 31, 2023 March 31, 2022
(ii) Discount rate is based on the prevailing market yields of Indian Government securities as at the Balance Sheet date for the
estimated term of the obligations. Dividend yield (%) 0% 0%
Expected volatility (%) 25.93% 27.28%
(iii) The salary escalation rate is arrived after taking into consideration the seniority, the promotion and other relevant factors,
such as, demand and supply in employment market. Risk–free interest rate (%) 3.78% 0.85%
Expected life of Restricted Stock Units (years) 3 years 3 years
35 SHARE BASED COMPENSATION TO EMPLOYEES Weighted average share price (`) ` 8,791.01 `8,566.60
a) International Stock Ownership Plan (Stocks of Abbott Laboratories, USA, being Ultimate Holding Company) Model used Black Scholes Black Scholes
Abbott Laboratories, USA has an 'Affiliate Employee Stock Purchase Plan' (employee share purchase plan) whereby The expected life of the RSUs is based on historical data and current expectations and is not necessarily indicative of
specified employees of its subsidiaries have been given a right to purchase shares of Abbott Laboratories, USA. Every exercise patterns that may occur. The expected volatility reflects the assumption that the historical volatility over a period
employee who opts for the scheme contributes, by way of payroll deductions, up to 10% of his cash remuneration (i.e. basic similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.
salary for officers and basic salary and dearness allowance for staff category) towards purchase of shares on a monthly
basis over the purchase cycle of six months. During the year, ` 4.94 Crores (March 31, 2022 : ` 4.64 Crores) withholding taxes has been deposited with tax authorities
against exercised options.
The maximum that an employee can contribute to the plan is USD 12,500 per purchase cycle or USD 25,000 per calendar
year. At the end of the cycle, accumulated payroll deductions are used to purchase shares at a discounted price. The
purchase price of the share is 85% of the lesser of fair market value either on the first or last day of the purchase cycle. The
shares of Abbott Laboratories, USA are listed with the New York Stock Exchange, USA and are purchased on behalf of the
employees at market price less discount, allocated to participants as of last day of the purchase cycle. The concession in the
price of the shares is entirely borne by Abbott Laboratories, USA.
During the year ended March 31, 2023, 20,943 shares (March 31, 2022 : 16,704 shares) were purchased by employees at
weighted average fair value of US $ 93.64 (March 31, 2022 : US $ 103.46) per share.


36 COMMITMENTS AND CONTINGENCIES 38 RELATED PARTY DISCLOSURE
a. Commitments : A) Parties where control exists :
As at As at
Ultimate Holding Company : Abbott Laboratories, USA
March 31, 2023 March 31, 2022 Holding Company : Abbott Capital India Ltd., UK
Estimated amount of contracts remaining to be executed on capital account and
not provided for (net of advances) 7.48 2.31 B) Other related parties with whom transactions have taken place during the year :
I) Fellow subsidiaries :
b. Contingent liabilities :
British Colloids Ltd., U.K.
Claims against Company not acknowledged as debts
Abbott Healthcare Products Ltd., U.K
(i) In February 1996, the Government had made a tentative claim for a sum of ` 11.12 Crores to be paid into the Drugs
Abbott Healthcare Private Limited, India
Prices Equalisation Account (DPEA) on account of unintended benefit allegedly enjoyed by the Company during the
period May 1, 1981 to August 25, 1987. This was contested by the Company and subsequently during the year ended Abbott International LLC, USA
November 30, 2005, a final demand was received for ` 3.47 Crores (including interest of ` 1.90 Crores upto March 31, Abbott Products Operations AG., Switzerland
2004). The Company, being aggrieved of the said demand and based on legal advice obtained in this regard, contested
Abbott Laboratories (Singapore) Pte Ltd., Singapore
the above final demand of `3.47 Crores and filed a writ petition before the Bombay High Court to restrain the
government from recovering the said amount. The Bombay High Court has admitted the writ petition and granted Abbott GmbH, Germany
stay of the recovery of the amount subject to the Company furnishing a bank guarantee in respect of the principal Abbott Diagnostics Medical Private Limited, India
amount of ` 1.56 Crores. The said bank guarantee has been furnished. The Company however, out of abundant caution
and based on its understanding of the facts and circumstances of the case provided for a sum of ` 1.31 Crores (March Abbott Laboratories GmbH, UAE (previously known as Abbott Laboratories S.A., Dubai)
31, 2022 : ` 1.27 Crores) including interest liability till date. Abbott Laboratories, Ireland
As at As at St Jude Medical India Private Limited, India

March 31, 2023 March 31, 2022 Abbott Laboratuarlari Ithalat Ve Ihracat Tic.Ltd.Sti.
(ii) Income Tax* 80.81 87.18 Abbott Laboratories Limited, Thailand
(iii) Sales Tax 6.65 34.29
II) Key Management personnel and Independent directors:
* Amount excludes certain unascertainable expense that may be disallowed.
Mr. Vivek V Kamath, Managing Director (w.e.f. February 15, 2022)
It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above and
Mr. Anil Joseph, Managing Director (ceased to be the Managing Director effective close of business hours on
other pending ligitations of the respective proceedings as it is determinable only on receipt of judgements/decisions
January 31, 2022)
pending with various forums/authorities.
Mr. Munir Shaikh, Chairman
37 SEGMENT REPORTING Mr. Rajiv Sonalker, Whole-Time Director
The Managing Director of the Company takes decision in respect of allocation of resources and assesses the performance Mr. Kaiyomarz Marfatia, Non-Executive Director
basis information provided by functional heads and are thus considered to be Chief Operating Decision Maker.
Ms. Anisha Motwani, Independent Director
The Company operates under the principal business segment viz. "Pharmaceuticals". The Chief Operating Decision Maker
Mr. Sudarshan Jain, Independent Director
(CODM) views and monitors the operating results of its single business segment for the purpose of making decisions about
resource allocation and performance assessment. Also, sales of Company is substantially in domestic market. Accordingly, Ms. Shalini Kamath, Independent Director
there are no separate reportable segments in accordance with the requirements of Ind AS 108 ‘Operating segment’ and C) Transactions during the year :
hence, there are no additional disclosures to be provided other than those already provided in the financial statements.
I) Transactions with the Ultimate Holding Company during the year
There are no individual customer contributing more than 10% of Company's total revenue.
March 31, 2023 March 31, 2022
Abbott Laboratories, USA
Reimbursement towards RSU (Refer Note 15) 12.14 12.56
Reimbursement towards issue of parent Company shares to employees
at discounted price under Employee Stock Purchase Plan (ESPP) 2.91 -
II) Transactions with the Holding Company during the year
March 31, 2023 March 31, 2022
Abbott Capital India Ltd., UK
Remittance of dividend 294.78 294.78


III) Transactions with fellow subsidiaries during the year v) Reimbursements to and from fellow subsidiaries :
i) Remittance of dividend : Reimbursement to Reimbursement from
For the year ended For the year ended For the year ended For the year ended For the year ended For the year ended
March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022
Abbott Healthcare Private
British Colloids Ltd., U.K.
Limited, India
Remittance of dividend 40.43 40.43 Market research and
Abbott Healthcare Products Limited, U.K. other expenses 0.11 0.10 - -
Remittance of dividend 102.99 102.99 Abbott International LLC,
USA
ii) Sales to fellow subsidiaries :
Employee benefits
For the year ended For the year ended expense, travel and other
March 31, 2023 March 31, 2022 expenses 0.11 0.49 - 0.02
Abbott Healthcare Private Limited, India Abbott Laboratories
Sales of stock-in-trade 60.01 64.25 (Singapore) Pte Ltd.,
Singapore
Sales of raw materials 4.04 18.80
Employee benefits
Abbott Products Operations AG., Switzerland expense, travel and other
Sales of stock-in-trade 0.92 0.56 expenses 0.49 0.55 - -
iii) Purchases from fellow subsidiaries : Abbott Products Operations
AG., Switzerland
For the year ended For the year ended Employee benefits
March 31, 2023 March 31, 2022
expense, travel and other
Abbott Healthcare Private Limited, India expenses - 0.03 - 0.27
Purchase of raw materials 0.02 - Abbott Laboratories, Ireland
Purchase of stock-in-trade 53.14 65.51 Employee benefits
Abbott Products Operations AG., Switzerland expense, travel and other
expenses - -* - -
Purchase of raw materials 335.82 232.83
Abbott Laboratories
Purchase of stock-in-trade 112.58 112.95 Limited, Thailand
iv) Other expenses to fellow subsidiaries : Employee benefits
expense, travel and other
For the year ended For the year ended expenses - - 0.24 -
March 31, 2023 March 31, 2022
Abbott GmbH, Germany
Abbott Healthcare Private Limited, India Employee benefits
Shared and support services 57.78 56.20 expense, travel and other
Promotional expenses 1.19 1.08 expenses - - 0.14 -
Conversion charges 11.82 14.84 Abbott Laboratuarlari
Ithalat Ve Ihracat Tic.Ltd.Sti.
Payment of lease liabilities 33.21 33.21
Honorarium to HCP for
Finance costs 6.33 8.60 Training & Education
Electricity and communication expenses 0.96 0.96 Support 0.01 - - -
Abbott Diagnostics Medical Private Limited, India * below ` 50,000
Promotional expenses 0.05 -


vi) Income from fellow subsidiaries : D) Outstanding :

For the year ended For the year ended As at As at
Abbott Healthcare Private Limited, India Trade payable to fellow subsidiaries (Refer Note 18)
Shared and support services (Refer Note 23 (a)) 51.92 53.63
Abbott Products Operations AG., Switzerland 124.09 103.97
Rent income (Refer Note 24) 1.15 1.15
Abbott Healthcare Private Limited, India 8.72 11.96
Abbott Products Operations AG., Switzerland
Shared and support services (Refer Note 23 (a)) 4.76 3.37 Abbott Laboratories (Singapore) Pte Ltd., Singapore 0.05 0.07
Abbott Laboratories (Singapore) Pte Ltd., Singapore Abbott International LLC, USA 0.10 0.19
Shared and support services (Refer Note 23 (a)) 1.86 1.39 Abbott Laboratories, USA 1.48 -
Abbott Laboratories GmbH, UAE 134.44 116.19
Shared and support services (Refer Note 23 (a)) 1.86 1.39 Lease Liabilities to fellow subsidiary (Refer Note 5)
St Jude Medical India Private Limited, India
Shared and support services (Refer Note 23 (a)) 1.23 1.23
59.21 86.10
Abbott Diagnostics Medical Private Limited, India
Shared and support services (Refer Note 23 (a)) 0.24 0.30 Deposit from fellow subsidiary (Refer Note 19)
vii) Key management personnel remuneration# :
0.45 0.45
March 31, 2023 March 31, 2022 Trade receivables from fellow subsidiaries (Refer Note 9)
Mr. Vivek V Kamath, Managing Director (w.e.f. February 15, 2022) 6.43 0.43 Abbott Healthcare Private Limited, India 7.89 13.44
Mr. Anil Joseph, Managing Director (ceased to be the Managing Abbott Products Operations AG., Switzerland 0.35 0.28
Director effective close of business hours on January 31, 2022) - 5.33 8.24 13.72
Mr. Rajiv Sonalker, Whole-Time Director 3.69 3.92 Other receivables from fellow subsidiaries (Refer Note 12)
#During the year, as a part of the 'Long-term Incentive Program', Restricted Stock Units of Abbott Laboratories, USA carrying perquisite Abbott Healthcare Private Limited, India 0.43 7.28
value of ` 2.30 Crores (March 31, 2022 : ` 2.20 Crores) have been granted to the above employees. Also refer Note 35 (b).
Abbott International LLC, USA 4.19 4.69
Also, provision for post employment benefits as gratuity , leave encashment on retirement and other defined
Abbott Laboratories (Singapore) Pte Ltd., Singapore 0.30 0.24
benefits which are made based on actuarial valuation on an overall Company basis are not included in
remuneration to key management personnel. Abbott Products Operations AG., Switzerland 0.67 0.64
viii) Non-Executive, Other Directors' sitting fees and Annual Commission : Abbott Laboratories GmbH, UAE 0.29 0.24
For the year ended For the year ended St Jude Medical India Private Limited, India 0.11 0.11
March 31, 2023 March 31, 2022
Abbott Diagnostics Medical Private Limited 0.09 0.04
Mr. Munir Shaikh, Chairman 0.31 0.12 6.08 13.24
Ms. Anisha Motwani, Independent Director 0.30 0.15 Deposit to fellow subsidiary
Mr. Sudarshan Jain, Independent Director 0.28 0.13 Abbott Healthcare Private Limited, India (Refer Note 5 and 6) 14.76 14.77
Ms. Shalini Kamath, Independent Director 0.30 0.15
Mr. Kaiyomarz Marfatia, Non-Executive Director 0.23 0.03 Terms and conditions of transactions with related parties :
All transactions with related parties are made in the ordinary course of business and the same is at arm’s length. Outstanding
balances at the year end are unsecured and interest free and settlement occurs in cash. The Company has not recorded any
impairment for receivables. This assessment is undertaken each financial year through examining the financial position of
the related parties and the market in which related parties operate.


39 FAIR VALUE DISCLOSURE Carrying
Fair value Fair value hierarchy
A. The carrying value and fair value of financial assets/liabilities by categories are as follows : amount
Particulars Quoted prices Significant Significant

Carrying value of the Fair value of the As at As at in active observable unobservable
financial assets/liabilities financial assets/liabilities March 31, 2022 March 31, 2022 markets inputs inputs
Particulars
As at As at As at As at Level 1 Level 2 Level 3
Financial assets at amortised cost
Financial assets/liabilities at amortised cost
Financial assets at amortised cost (non-current) : Other financial assets (Refer Note 6)
Other financial assets (Refer Note 6) 1,222.07 43.15 1,222.07 43.15 (non-current)
Financial assets at amortised cost (current) : Deposits given to fellow subsidiary 12.03 12.03 - - 12.03
Trade and other receivables (Refer Note 9) 316.95 288.16 316.95 288.16 Deposits for premises 0.84 0.84 - - 0.84
Cash and cash equivalents (Refer Note 10) 239.67 132.71 239.67 132.71 Against tenders 0.12 0.12 - - 0.12
Bank balances other than cash and cash equivalents (Refer
Note 11) 1,697.39 2,616.51 1,697.39 2,616.51 Others 30.16 30.16 - - 30.16
Other financial assets (Refer Note 12) 70.48 72.21 70.48 72.21 Total 43.15 43.15 - - 43.15
Financial liabilities at amortised cost (non-current) : Financial liabilities at amortised cost
Lease liabilities (Refer Note 5) 67.49 108.74 67.49 108.74 Lease liabilities (Refer Note 5) 151.69 151.69 - - 151.69
Financial liabilities at amortised cost (current) :
Total 151.69 151.69 - - 151.69
Lease liabilities (Refer Note 5) 45.68 42.95 45.68 42.95
Trade payables (Refer Note 18) 891.99 889.45 891.99 889.45 Financial assets at fair value through
Other financial liabilities (Refer Note 19) 77.38 73.18 77.38 73.18 Profit or Loss
Financial assets/liabilities at fair value through Profit Forward contract receivable 0.04 0.04 - 0.04 -
or Loss Total 0.04 0.04 - 0.04 -
Financial assets at fair value through Profit or Loss
(current) : The following methods and assumptions were used to estimate the fair values :
Forward contract receivable - 0.04 - 0.04 Fair value of cash and bank balances, trade and other financial current assets, trade payables, other financial current
Financial liabilities at fair value through Profit or Loss liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments. Methods and
(current) : assumptions used to estimate the fair values are consistent with those used for the year ended March 31, 2023.
Forward contract payable 0.61 - 0.61 -
During the reporting period ending March 31, 2023 and March 31, 2022, there were no transfers between Level 1 and Level
B. Set out below, is a comparison by class of the carrying amounts and fair value of the Company's financial assets/ 2 fair value measurements.
liabilities, other than those with the carrying amounts that are reasonable approximations of fair values :
The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments
Carrying
Fair value Fair value hierarchy by valuation technique :
amount
Quoted prices Significant Significant Level 1 : Quoted (unadjusted) prices in active markets for identical assets or liabilities
Particulars
As at As at in active observable unobservable
March 31, 2023 March 31, 2023 markets inputs inputs Level 2 : Other techniques for which all inputs which have a significant effect on the recorded fair value are observable,
Level 1 Level 2 Level 3 either directly or indirectly
Financial assets at amortised cost
Other financial assets (Refer Note 6) Level 3 : Techniques which use inputs that have a significant effect on the recorded fair value that are based on unobservable
(non-current) market data
Deposits given to fellow subsidiary 12.96 12.96 - - 12.96 The fair values of the foreign exchange forward contract has been determined using valuation techniques with adequate
Deposits for premises 0.90 0.90 - - 0.90 observable inputs. This model incorporate various inputs including the credit quality of counter parties and foreign
Against tenders 0.12 0.12 - - 0.12 exchange forward rates.
Term deposit with original maturity of 1,137.00 1,137.00 1,137.00
more than 12 months
Others 71.09 71.09 - - 71.09
Total 1,222.07 1,222.07 - - 1,222.07
Financial liabilities at amortised cost
Lease liabilities (Refer Note 5) 113.17 113.17 - - 113.17
Total 113.17 113.17 - - 113.17
Financial Liabilites at fair value through
Profit or Loss
Forward contract payable 0.61 0.61 - 0.61 -
Total 0.61 0.61 - 0.61 -


Description of significant unobservable inputs to valuation (Level 3) : (ii) Foreign currency risk
The following table shows the valuation techniques and inputs used for financial instruments that are not carried at fair Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of
value : changes in foreign exchange rates and arises where transactions are done in foreign currency. It arises mainly where
receivables and payables exist due to transactions entered in foreign currencies.
As at As at
March 31, 2023 March 31, 2022 The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established
risk management policies including use of derivatives like foreign exchange forward contracts to hedge foreign
a) Deposits for premises Discounted Discounted
currency risk. The Company does not enter into financial instrument transactions for trading or speculative purposes.
cashflow cashflow
Unhedged exposure at any point of time during the year is not material.
method using method using
interest rate for interest rate for The Company’s exposure to foreign currency risk is as follows :
similar financial similar financial
instrument instrument As at March 31, 2023 As at March 31, 2022
Particulars
USD EURO GBP USD EURO GBP CAD
b) Lease liabilities Discounted Discounted
cashflow cashflow method Trade receivables 6.05 - - 3.87 - - -
method using using incremental Other financial assets 5.13 - - 15.59 - - -
incremental borrowing rate
Trade payables 162.93 1.63 0.05 161.74 0.23 0.01 0.02
borrowing rate
c) Financial assets/liabilities other than above Expected Expected Foreign currency sensitivity
cashflows for cashflows for The following table demonstrate the sensitivity to a reasonably possible change in foreign exchange rates, being
the financial the financial the most transacted currencies with all other variables held constant. The exchange rate between Rupee and other
instruments instruments foreign currencies have changed substantially in the recent years and may fluctuate substantially in the future.
Consequently the results of the Company's operations could be affected as the Rupee appreciates/ depreciates against
A one percentage point change in the unobservable inputs used in fair valuation of level 3 assets or liabilities does not have
these currencies.
significant impact in its value.
40 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES Currency
As at March 31, 2023 As at March 31, 2022
1% Increase 1% Decrease 1% Increase 1% Decrease
The Company's activities expose it to variety of financial risks namely market risk, credit risk and liquidity risk. The
USD (1.52) 1.52 (1.42) 1.42
Company has various financial assets such as deposits, trade and other receivables and cash and bank balances directly
related to their business operations. The Company's principal financial liabilities comprise of trade and other payables. EURO (0.02) 0.02 -* -*
GBP -* -* -* -*
The Company’s senior management’s focus is to foresee the unpredictability and minimize potential adverse effects on the
CAD - - -* -*
Company's financial performance. The Company's overall risk management procedures to minimise the potential adverse
effects of financial market on the Company's performance are as follows : Increase/(Decrease) in Profit or Loss (1.54) 1.54 (1.42) 1.42
* below ` 50,000/-
a) Market risk
b) Credit risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract,
market prices. Market risk comprises three types of risks namely interest rate risk, currency risk and other price risk, such
leading to a financial loss. Concentration of credit risk arises when counter parties are engaged in similar business activities
as commodity risk. The Company is not exposed to other price risk whereas the exposure to currency risk and interest risk
or have similar economic features that would cause the ability to meet contractual obligations to be similarly affected by
is given below :
changes in economical, political or other conditions. Concentration of credit risk indicate the relative sensitivity of the
(i) Interest rate risk Company's performance to developments affecting a particular industry.
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because Credit risk of Company arises principally from the trade debts, loans and advances, trade deposits, other receivables and
of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates balance with banks. The carrying amount of financial assets represents the maximum credit exposure. The maximum
primarily to the Company’s deposit accounts with banks. exposure to credit risk was ` 3,546.56 Crores as at March 31, 2023 (March 31, 2022 : ` 3,152.78 Crores). Customer credit
risk is managed for each business unit subject to the Company’s established policy, procedures and control relating to
Carrying Amount
customer credit risk management. Credit quality of a customer is assessed based on an extensive credit rating scorecard
Particulars As at As at
and individual credit limits are defined in accordance with this assessment. Further, significant sales of the Company are
March 31, 2023 March 31, 2022
against advance payment/collection on delivery terms. Outstanding customer receivables are regularly monitored and
Fixed rate instruments any shipments to new overseas customers are generally covered by letters of credit or other forms of credit insurance.
Financial assets 2,999.15 2,669.83 The management continuously monitors the credit exposure towards the customers and makes provision against those
balances considered doubtful of recovery.
Interest Rate sensitivity
The Company's investments are primarily in fixed rate interest bearing investments. Hence, the Company is not Refer Note 9 for ageing of trade receivables.
significantly exposed to interest rate risk.


Movement in allowance for credit loss : 41 CAPITAL MANAGEMENT

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves
As at As at
Particulars March 31, 2023 March 31, 2022 attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to safeguard
the Company's ability to remain as a going concern and maximise the shareholder value.
Balance at the beginning of the year 17.21 15.73
Allowance for credit impaired debts (0.09) 1.22 The Company manages its capital structure and makes adjustments in light of changes in economic conditions, annual operating
Allowance for credit impaired deposits (0.40) 0.45 plans and long-term and other strategic investment plans. In order to maintain or adjust the capital structure, the Company
Bad debts written off (0.05) (0.19) may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares. The current capital
structure of the Company is equity based with no financing through borrowings except through leasing. The Company is not
Balance at the end of the year 16.67 17.21
subject to any externally imposed capital requirements.
The management believes that no further provision is necessary in respect of trade receivables based on historical trends
No changes were made in the objectives, policies or processes for managing capital during the year ended March 31, 2023 and
of these customers. Further, the Company's exposure to customers is diversified and no single customer has significant
March 31, 2022.
contribution to trade receivables balances.
The credit risk on liquid funds such as balances with banks in current and deposit accounts is limited because the counter 42 ADDITIONAL REGULATORY INFORMATION
parties are banks with reasonably high credit ratings. i) Financial Ratios:
Financial assets other than trade receivables and bank balances are not exposed to any material credit risk. The following are analytical ratios for the year ended March 31, 2023 and March 31, 2022 :
c) Liquidity risk Ratio Numerator Denominator
As at As at Change (in
March 31, 2023 March 31, 2022 %)
Liquidity risk is the risk that Company will not be able to meet its financial obligations as they fall due. Liquidity risk arises
because of the possibility that the Company could be required to pay its liabilities earlier than expected or encounters Current ratio (in times) Current Assets Current Liabilities 2.51 3.20 (21.56)%
difficulty in raising funds to meet commitments associated with financial liabilities as they fall due. The Company's Debt- Equity Ratio (in times) Total Debt1 Shareholder’s
approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its Equity 0.04 0.05 (20.00)%
liabilities when due. The Company manages liquidity risk by maintaining sufficient cash and bank balance and availability Debt Service Coverage ratio Earnings available Debt service3
of funding through adequate amount of committed credit facilities. (in times) for debt service2 16.46 15.71 4.77%
The details of the contractual maturities of significant liabilities as at March 31, 2023 are as follows : Return on Equity ratio (in %) Net Profit after Average
taxes Shareholder’s
Particulars
Carrying Less than
1-3 years 3-5 years
More than
Total
Equity 31.60% 29.46% 7.26%
Amount 1 year 5 years
Inventory Turnover ratio Cost of goods sold Average Inventory
Trade payables (in times) 4.45 3.78 17.72%
(Refer Note 18) 891.99 891.99 - - - 891.99 Trade Receivable Turnover Ratio Revenue from Average Trade
Other current financial (in times) Operations Receivable 17.68 18.25 (3.12)%
liabilities (Refer Note 19) 77.99 77.99 - - - 77.99 Trade Payable Turnover Ratio Total Purchases Average Trade
Lease Liabilities (in times) and Other Payables
(Refer Note 5) 113.17 53.26 64.21 6.02 4.89 128.38 Expenses 3.97 3.9 1.79%
1,083.15 1,023.24 64.21 6.02 4.89 1,098.36 Net Capital Turnover Ratio Revenue from Working Capital4
(in times) Operations 2.94 1.85 58.92%*
The details of the contractual maturities of significant liabilities as at March 31, 2022 are as follows :
Net Profit ratio (in %) Net Profit Revenue from
Particulars
Carrying Less than
1-3 years 3-5 years
More than
Total
Operations 17.75% 16.26% 9.16%
Amount 1 year 5 years
Return on Capital Employed Earnings before Capital Employed5
Trade payables (in %) interest and taxes 39.06% 36.98% 5.62%
(Refer Note 18) 889.46 889.46 - - - 889.46
Return on Investment (in %) Interest Income Average Fixed
Other current financial Deposit Investment 4.97% 2.99% 66.22%**
liabilities (Refer Note 19) 73.18 73.18 - - - 73.18
Lease Liabilities * Due to Revenue growth and reduction in Current Assets
(Refer Note 5) 151.69 53.89 99.04 18.11 7.34 178.38 ** Due to increase in Fixed Deposit rates
1,114.32 1,016.53 99.04 18.11 7.34 1,141.02 (1) Debt represents only lease liabilities
(2) Net Profit after Taxes + Non-Cash Operating Expenses + Interest + Other Adjustment like gain & loss on sale / write off of property, plant and
equipment etc.
(3) Lease Payment for the current year
(4) Current Assets - Current Liabilities
(5) Tangible Networth + lease liabilities

NOTES TO THE FINANCIAL STATEMENTS NOTICE

ii) Relationship with Struck off Companies: Notice is hereby given that the Seventy-ninth Annual General of the Articles of Association of the Company,
The Company does not have any transaction with companies struck off under Section 248 of the Companies Act, 2013 or Meeting of Abbott India Limited will be held through Video- Mr Mahadeo Karnik (DIN : 02606595), who was
Section 560 of Companies Act, 1956, during the current year and in the previous year. Conferencing (“VC”)/Other Audio-Visual Means (“OAVM”) appointed as an Additional Director of the Company
on Wednesday, August 9, 2023 at 9.30 a.m. to transact the with effect from July 1, 2023 and who holds office till
43 The Code on Social Security, 2020 ('the Code') has been published in the Official Gazette in September 2020. The final following business :
Rules and effective date are yet to be notified. The Company is assessing the impact of the Code and the rules thereunder, the date of this Annual General Meeting in terms of
and will give appropriate impact of the same in its financial statements, post notification of the same. Section 161 of the Companies Act, 2013, and in respect
ORDINARY BUSINESS :
of whom the Company has received a notice in writing
44 i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the 1. To receive, consider and adopt the Audited Financial
from a Member proposing his candidature for the office
Company for holding any Benami property. Statements of the Company for the financial year ended
March 31, 2023 together with the Reports of Directors of Director pursuant to Section 160 of the Companies
ii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory Act, 2013, be and is hereby appointed as a Director of the
and Auditors thereon.
period.
Company, liable to retire by rotation.
2. To declare a final dividend of ` 180/- and special dividend
iii) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
of ` 145/- per Equity Share for the financial year ended RESOLVED Further That the Board of Directors be
entities (Intermediaries) with the understanding that the Intermediary shall:
March 31, 2023. and is hereby authorized to take such steps and do all
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on 3. To appoint a Director in place of Mr Kaiyomarz Marfatia such acts, deeds, matters and things as may be considered
behalf of the Company (Ultimate Beneficiaries) or (DIN : 03449627), who retires by rotation and being necessary, proper and expedient to give effect to this
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries. eligible, offers himself for re-appointment. Resolution.
iv) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) 4. To appoint a Director in place of Ms Sabina Ewing By Order of the Board
with the understanding (whether recorded in writing or otherwise) that the Company shall: (DIN : 09201770), who retires by rotation and being
eligible, offers herself for re-appointment.
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party(Ultimate Beneficiaries) or SPECIAL BUSINESS : Krupa Anandpara
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. 5. Ratification of remuneration payable to Mumbai Company Secretary
M/s Kishore Bhatia & Associates, Cost Auditors, May 19, 2023 Membership No. : ACS 16536
v) The Company has not entered into any transaction which is not recorded in the books of accounts that has been for the financial year 2023-24
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, Registered Office :
search or survey or any other relevant provisions of the Income Tax Act, 1961). To consider and if thought fit, to pass with or without Abbott India Limited
modification(s), the following resolution as an Ordinary CIN : L24239MH1944PLC007330
vi) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year Resolution :
3, Corporate Park, Sion-Trombay Road, Mumbai - 400 071
45 The Company has maintained proper books of account as prescribed under Section 128(1) of the Companies Act, 2013 (as RESOLVED That pursuant to the provisions of Telephone No. : +91-22-6797 8888/+91-22-5046 1000/2000
amended). The books of accounts are maintained in electronic mode as required under Section 128 (1) of the Companies Section 148 and all other applicable provisions, if any, E-mail : investorrelations.india@abbott.com
Act, 2013 read with the Companies (Accounts) Rules, 2014 (as amended). The back-up of books of account and other of the Companies Act, 2013 and the Rules framed
relevant books and papers maintained in electronic mode were taken on a server physically located in India on daily basis Website : www.abbott.co.in
thereunder (including any statutory modification(s) or
except for an application used for processing expenses of field employees where backups on a daily basis were taken on a re-enactment(s) thereof for the time being in force), and
server physically located outside India. as approved by the Audit Committee and the Board of NOTES :
46 Previous year's figures have been regrouped/reclassified to conform to the current year's classification. Directors of the Company, remuneration of ` 0.08 Crores
i. In accordance with the Ministry of Corporate Affairs,
plus taxes as applicable and reimbursement of reasonable
out-of-pocket expenses, payable to M/s Kishore Bhatia & (“MCA”) General Circulars Nos. 14/2020 dated
As per our report of even date For and on behalf of the Board of Directors April 8, 2020, 17/2020 dated April 13, 2020, 20/2020
Associates, Cost Accountants (Registration No. 00294),
for conducting the Cost Audit of the Company for the dated May 5, 2020, 02/2021 dated January 13, 2021,
For S R B C & CO LLP VIVEK V KAMATH SUDARSHAN JAIN
Chartered Accountants Managing Director Director financial year 2023-24, be and is hereby ratified. 21/2021 dated December 14, 2021, 02/2022 dated
ICAI Firm Registration No. 324982E/E300003 DIN : 06606777 DIN : 00927487 May 5, 2022 and 10/2022 dated December 28, 2022
6. Appointment of Mr Mahadeo Karnik (DIN : 02606595)
as Director, liable to retire by rotation respectively, (“the MCA Circulars”) read with the
per DOLPHY DSOUZA RAJIV SONALKER KRUPA ANANDPARA Securities and Exchange Board of India (“SEBI”)
Partner CFO and Whole-time Director Company Secretary To consider and if thought fit, to pass with or without Circular Nos. SEBI/HO/CFD/CMD1/CIR/P/2020/79
Membership No. 38730 DIN : 07900178 Membership No. ACS 16536 modification(s), the following resolution as an Ordinary dated May 12, 2020, SEBI/HO/CFD/CMD2/
Resolution : CIR/P/2022/62 dated May 13, 2022 and SEBI/HO/
Place : Mumbai Place : Mumbai
Date : May 19, 2023 Date : May 19, 2023 RESOLVED That pursuant to the provisions of CFD/PoD-2/P/CIR/2023/4 dated January 5, 2023
Section 152 and other applicable provisions of the (“the SEBI Circulars”), the Annual General Meeting
Companies Act, 2013 and the Rules framed thereunder (“AGM”) will be held without the physical presence
(including any statutory modification or re-enactment of the Members at a common venue and Members can
thereof for the time being in force) read with Article 113 attend and participate in the AGM through VC/OAVM.

Notice (Contd.)
ii. Pursuant to the provisions of the Companies Act, 2013 A separate communication has been sent to the Members consolidation of share certificates/folios; transmission xiv. Members who have not encashed their dividend warrants
(“the Act”), a Member entitled to attend and vote at describing the detailed provisions regarding this and and transposition. Accordingly, Members are requested from the year 2015-16 or thereafter, are requested to
the Meeting is entitled to appoint a proxy to attend process to submit the documents/declarations along to make service requests by submitting a duly filled and write to the Company/Registrar and Transfer Agent.
and vote on his/her behalf and the proxy need not be a with the formats, in respect of deduction of TDS on the signed Form ISR-4, the format of which is available on Members are requested to note that the unclaimed
Member of the Company. Since this Meeting will be held dividend payout. The intimation is also available on the the Company’s website at https://www.abbott.co.in/ dividends will be transferred to the Investor Education
through VC/OAVM, in accordance with the MCA website of the Company at https://www.abbott.co.in/ investor-relations.html and on the website of the KFin at and Protection Fund (IEPF) after the below mentioned
investor-relations.html. https://www.kfintech.com. It may be noted that any
Circulars, physical attendance of Members has been due dates :
dispensed with. Accordingly, the facility for appointment viii. The Dividend will be paid electronically in the bank service request can be processed only after the Folio is
of proxies by the Members will not be available for the accounts of the Members whose bank details are KYC Compliant. Dividend per Due Date for
Dividend and Year
available with the Company/Registrar and Share Share Transfer to IEPF
Meeting and hence the Proxy Form and Attendance Slip xi. To eliminate all risks associated with physical shares
are not annexed to this Notice. The attendance of the Transfer Agent/Depositories. Members holding shares and avail various benefits of dematerialization, Members 58th Dividend 2015-16 35 16/08/2023
Members attending the AGM through VC/OAVM will be in electronic form are requested to intimate change, are advised to dematerialize the shares held by them in 59th Dividend 2016-17 40 16/08/2024
counted for the purpose of reckoning the quorum under if any, in their bank details to their Depository Participants physical form. Members can contact the Company or
with whom they have Demat accounts. The Company or 60th Dividend 2017-18 55 16/08/2025
Section 103 of the Act. KFin for assistance in this regard.
Registrar and Share Transfer Agent cannot act on any 61st Dividend 2018-19 65 20/09/2026
iii. Corporate Members intending to have their request received directly from such Members. Members xii. Members holding shares in physical form, in identical 62nd Dividend 2019-20 250 05/10/2027
representatives attend the Meeting through VC/OAVM holding shares in physical form are requested to intimate order of names, in more than one folio are requested to
change, if any, in their bank details by sending duly signed send to KFin, the details of such folios together with 63 Dividend 2020-21
rd
275 25/08/2028
pursuant to Section 113 of the Act, are requested to send
to the Company, a certified copy of the relevant Board Form ISR-1 alongwith required documents to the the share certificates along with the requisite KYC 64th Dividend 2021-22 275 08/09/2029
Resolution together with the specimen signature of the Company/Registrar and Share Transfer Agent. documents for consolidating their holdings in one folio.
In terms of the IEPF (Uploading of information regarding
representative(s) authorized to attend and vote on their ix. SEBI, vide its Circular dated November 3, 2021, as Requests for consolidation of share certificates shall be
unpaid and unclaimed amounts lying with Companies)
behalf at the Meeting. amended from time to time, had made it mandatory processed in dematerialized form.
Rules, 2012, the Company has uploaded the required
for holders of physical securities to furnish PAN, KYC xiii. In terms of requirements of Regulation 39(4) and information in respect of unpaid/unclaimed dividend
iv. A statement pursuant to Section 102(1) of the Act, relating
and Nomination/Opt-out of Nomination details to avail Schedule VI of the SEBI Listing Regulations, shares
to the Business to be transacted at Item Nos. 5 and 6 is (as on date of the last Annual General Meeting held on
any investor service. The timeline provided by SEBI to which remained unclaimed in the custody of the
annexed hereto. furnish/update the above details was March 31, 2023, August 10, 2022) on the Company’s website under the
Company are required to be transferred to the Unclaimed Investor Section at https://www.abbott.co.in/investor-
v. The additional details of Directors retiring by rotation, which has now been extended till September 30, 2023.
Suspense Account opened by the Company. relations.html.
pursuant to Regulation 36(3) of the Securities and Folios wherein any one of the above mentioned details
Exchange Board of India (“SEBI”) (Listing Obligations are not registered by October 1, 2023 shall be frozen. Accordingly, details of the unclaimed shares lying in the
xv. In terms of requirements of Section 124(6) of the Act,
Members who are yet to update their KYC details are Company’s Unclaimed Suspense Account are as follows :
and Disclosure Requirements) Regulations, 2015, read with the Investor Education and Protection Fund
therefore urged to furnish PAN, KYC and Nomination/
as amended from time to time (“the SEBI Listing Authority (Accounting, Audit, Transfer and Refund)
Opt-out of Nomination by submitting the prescribed Particulars
No. of No. of
Regulations”) and the Secretarial Standards issued by Shareholders Shares Rules, 2016, all shares in respect of which dividend
forms duly filled, by e-mail from their registered e-mail
the Institute of Company Secretaries of India, is annexed ID to einward.ris@kfintech.com or by sending a physical has not been paid or claimed for 7 (seven) consecutive
No. of shares as on 34 3,961
as Annexure I and forms part of this Notice. copy of the prescribed forms duly filled and signed by years or more are required to be transferred to the IEPF
April 1, 2022
vi. Final dividend of ` 180/- and special dividend of ` 145/- the registered holders to KFin Technologies Limited, Authority.
Registrar and Transfer Agent of the Company (“KFin”), No. of shares claimed (1) (3)
per Equity Share of ` 10/- each, as recommended by The details of shares so transferred are available on the
at Selenium Building, Tower B, Plot No. 31-32, Financial and transferred from the
the Board of Directors, if approved by the Members at Unclaimed Suspense Account Company’s website under the Investor Section at https://
District, Nanakramguda, Serilingampally, Hyderabad -
the Annual General Meeting, will be paid on and after during the year
500 032. www.abbott.co.in/investor-relations.html.
August 16, 2023 to the Members whose names appear on
the Register of Members and to the Beneficial Owners In accordance with the SEBI Circular dated March 16, No. of shares transferred - - The Members whose shares and unclaimed dividend
of the Shares as on July 21, 2023 (“Record date”), as per 2023, the Company has sent out intimations to those to Investor Education and have been transferred to IEPF, may claim the shares and
Members, holding shares in physical form, whose folios Protection Fund
the details furnished by the Depositories for this purpose. unclaimed dividends by making an application to IEPF
are incomplete with PAN, KYC and/or Nomination No. of shares as on 33 3,958 Authority in Form IEPF-5 (available on www.iepf.gov.in)
vii. In accordance with the provisions of the Income Tax Act, details, requesting them to update the details so as to March 31, 2023 along with requisite fee as decided by the Authority from
1961 (IT Act) as amended by and read with the provisions avoid freezing of the folios.
of the Finance Act, 2020, with effect from April 1, 2020, All benefits accruing on such shares shall be credited to time to time. A Member can file only one consolidated
x. Members may please note that SEBI vide its Circular claim in a financial year as per the said Rules and
dividend declared and paid by the Company is taxable Unclaimed Suspense Account for a period of 7 (seven)
No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 amendments thereto. The process for claiming the
in the hands of its shareholders and the Company is years. Thereafter, the said shares including all benefits
dated January 25, 2022 has mandated the listed
required to deduct Tax at Source (TDS) from dividend accrued thereon shall be transferred by the Company shares and unclaimed dividend from IEPF is available
Companies to issue securities in dematerialized form
paid to the shareholders at the applicable rates. only while processing service requests viz. issue of to IEPF Authority in accordance with the provisions of on the website of the Company at https://www.abbott.
Section 206AB of the Act mandates special provisions duplicate share certificate; claim from unclaimed Section 124(5) and (6) of the Act. co.in/investor-relations.html.
for TDS in respect of taxpayers who have not filed their suspense account; renewal/exchange of share certificate;
income-tax return for the previous year. endorsement; sub-division/splitting of share certificate;

Notice (Contd.)
The details of shares lying in the IEPF Account are demat account number/folio number, e-mail id, mobile d) A person, whose name is recorded in the Register the consolidated Report of the Scrutinizer
given below : number at investorrelations.india@abbott.com from of Members or in the Register of Beneficial Owners be placed on the website of the Company i.e.,
Wednesday, July 26, 2023 to Wednesday, August 2, 2023. maintained by the Depositories as on the Cut-off www.abbott.co.in and on the website of NSDL
No. of No. of date i.e., August 2, 2023 (“Cut-off date”) only shall at www.evoting.nsdl.com immediately after the
Particulars Those Members who have registered themselves as a
Shareholders Shares
speaker will only be allowed to express their views/ask be entitled to avail the facility of remote e-voting declaration of results. The results shall
No. of shares in IEPF 680 1,02,590 questions during the Meeting. The Company reserves or voting at the Meeting, as the case may be, in simultaneously be forwarded to the BSE Limited,
Account as on April 1, 2022 the right to restrict the number of questions/speakers proportion to the shares held by them as on the Mumbai and also be displayed on the Notice Board
depending on the availability of time for the Meeting. Cut-off date. of the Registered Office of the Company.
No. of shares transferred to 28 2,842
IEPF Account during the e) In case all the joint holders are attending the xxi. Instructions for e-voting and attending the Annual
xx. Voting through Electronic Means
year 2022-23 Meeting, the Member whose name appears as first General Meeting is annexed as Annexure II and forms
Pursuant to the provisions of Section 108 and other holder in the order of names as per Register of part of this Notice.
No. of shares claimed (24) (7,383)
applicable provisions, if any, of the Act read with the Members of the Company will be entitled to vote at
and transferred to the xxii. Considering the Meeting would be held through VC/
Companies (Management and Administration) Rules, the Meeting.
Shareholders from IEPF OAVM, the route Map for the venue is not annexed to
Account during the 2015, Regulation 44 of the SEBI Listing Regulations and f) Any person holding shares in physical form and
the Notice. The deemed venue for the AGM shall be the
year 2022-23 in line with the MCA Circulars, the Company is pleased non-individual shareholders, who acquires shares of
Registered Office of the Company.
to provide to its Members the facility to exercise their the Company and becomes Member of the Company
No. of shares in IEPF 684 98,049
vote through electronic means i.e., “remote e-voting” after the notice is sent through e-mail and holding
Account as on STATEMENT PURSUANT TO SECTION 102(1) OF THE
March 31, 2023 on resolutions proposed to be passed at the Meeting. shares as of the Cut-off date i.e., August 2, 2023,
may obtain the login ID and password by sending a
COMPANIES ACT, 2013
In line with the MCA Circulars, Members are required to
xvi. Members seeking any information or clarifications on the communicate their assent or dissent through the remote request at evoting@nsdl.co.in or Issuer/RTA. Item No. 5
Annual Report are requested to send their queries to the e-voting system only. However, if you are already registered with The Board, based on the recommendation of the Audit
Company on investorrelations.india@abbott.com at least NSDL for remote e-voting, then you can use your Committee, approved the appointment of M/s Kishore Bhatia
In terms of SEBI Circular dated December 9, 2020 on existing User ID and Password for casting your
one week prior to the Meeting to enable the Company & Associates, Cost Accountants (Registration No. 00294)
to compile the information and provide replies at the e-voting facility provided by listed Companies, individual vote. If you forgot your password, you can reset as the Cost Auditors for conducting the Cost Audit of the
Meeting. Members holding securities in demat mode are allowed your password by using “Forgot User Details/ Company for the financial year 2023-24 at a remuneration of
to vote through their demat account maintained with Password” or “Physical User Reset Password” ` 0.08 Crores plus taxes as applicable and reimbursement of
xvii. In line with the MCA Circulars and the SEBI Circulars, Depositories and Depository Participants. Members option available on www.evoting.nsdl.com or call
reasonable out-of-pocket expenses.
Annual Report for the financial year 2022-23 along with are required to update their Mobile No. and E-mail on toll free no. 022-4886 7000 and 022-2499 7000.
the Notice of Seventy-ninth Annual General Meeting ID correctly in their demat account in order to access In case of Individual shareholders holding Pursuant to the provisions of Section 148 and all other
inter alia, indicating the process and manner of e-voting, e-voting facility. securities in demat mode who acquires shares of the applicable provisions, if any, of the Companies Act, 2013
is being sent through electronic mode to the Members Company and becomes a Member of the Company and the Rules framed thereunder, remuneration payable to
whose e-mail addresses are available with the Company/ a) The facility for remote e-voting shall be provided at after sending of the Notice and holding shares as of M/s Kishore Bhatia & Associates, Cost Auditors, as stated
Depositories/Depository Participants. the Meeting. Members attending the Meeting who the Cut-off date i.e., August 2, 2023, may follow steps above, requires ratification by the Members.
have not cast their vote earlier by remote e-voting mentioned in the Notice of the AGM under “Access to
The aforesaid documents are also available on the shall be entitled to vote at the Meeting. A Member NSDL e-voting system”. None of the Directors and/or Key Managerial Personnel of
Company’ website at https://www.abbott.co.in/investor- can participate in the Meeting even after exercising the Company and their relatives is concerned or interested,
relations.html and on the websites of the BSE Limited at g) Once the Member has confirmed his voting on the financially or otherwise, in the resolution set out at Item No. 5.
his right to vote through remote e-voting but shall
www.bseindia.com and NSDL at www.evoting.nsdl.com. resolution, he will not be allowed to modify his vote
not be allowed to vote again at the Meeting. or cast the vote again. The Board recommends the resolution set forth in Item No. 5
The Members whose e-mail addresses are not registered b) The remote e-voting facility will be available during for the approval of Members as an Ordinary Resolution.
h) The Scrutinizer shall, after the conclusion of
with the Company are requested to register the same the following voting period : voting at the Meeting, first count the votes cast Item No. 6
by following the instructions given under Part E of
at the Meeting and thereafter unblock the votes The Board, based on recommendation of the Nomination and
Annexure II to this Notice. Commencement of From 9 a.m. (IST) cast through remote e-voting and shall submit,
Remuneration Committee, appointed Mr Mahadeo Karnik
xviii. The relevant documents referred to in the accompanying remote e-voting on Sunday, August 6, not later than forty-eight hours of the conclusion
(DIN : 02606595) as Additional Director of the Company
Notice and Explanatory Statement will be provided upon 2023 of the Annual General Meeting, a consolidated
effective July 1, 2023 as per the provisions of Section 161 of
request, in electronic mode upto the date of the Meeting. Scrutinizer’s Report of the total votes cast in favor
End of remote e-voting Upto 5 p.m. (IST) on or against, if any, to the Chairman or any other the Companies Act, 2013 and Rules framed thereunder (“the
The Members are required to write to investorrelations. Tuesday, August 8, Act”) read with Article 113 of the Articles of Association of
india@abbott.com with a subject “Inspection of person authorized by him in writing, who shall
2023 countersign the same and declare the result of the the Company. He holds office upto the date of this Annual
Documents”.
voting forthwith. General Meeting.
c) Mr Taizoon M. Khumri, Practicing Company
xix. Speaker Registration/Questions for the Meeting
Secretary (Membership No. FCS 993 and Certificate i) The Results shall be declared by the Chairman Mr Karnik has provided his consent to act as a Director of the
Members, who would like to express their views/have of Practice No. 88) has been appointed as the or any other person authorized by him in writing Company and also a confirmation that he is not disqualified
questions are requested to send registrations along Scrutinizer to scrutinize the voting process in a fair within forty-eight hours from the conclusion of from being appointed as a Director in terms of Section 164 of
with the questions in advance mentioning their name, and transparent manner. the Meeting. The results declared shall alongwith the Act.

Notice (Contd.)
Details of Directors retiring by rotation/seeking appointment at the Seventy-ninth Annual General Meeting (pursuant to Regulation 36(3) of
the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Secretarial Standards
The Company has received a notice in writing under The additional details of Mr Karnik as required under
Mr Karnik is a veteran in finance stream and

brings in vast knowledge and expertise in
financial analysis, capital markets, corporate
Fellow Member of the Institute of Chartered

Accountants of India and Institute of Cost
As per the resolution set out in this Notice.

Section 160 of the Act from a Member proposing the Regulation 36(3) of the Securities and Exchange Board of
and Management Accountants of India.

candidature of Mr Karnik for the office of Director of the India (Listing Obligations and Disclosure Requirements)
taxation, mergers, and acquisitions.

Company. Regulations, 2015 and the Secretarial Standards issued by the
Institute of Company Secretaries of India are set out in the
Mahadeo is a veteran in finance stream and brings in vast
Annexure I forming part of this Notice. He does not hold any
knowledge and expertise in financial analysis, capital
shares in the Company.
markets, corporate taxation, mergers, and acquisitions. He is
a keen strategist with considerable experience of participation None of the Directors and/or Key Managerial Personnel of the
Mahadeo Karnik
October 3, 1972
in Company-wide initiatives for developing and implementing Company and their relatives, except Mr Karnik is concerned
July 1, 2023
improved business models and profitable market beating or interested, financially or otherwise, in the resolution set out
growth strategy. He has been instrumental in driving many at Item No. 6.
None
None
None
automation and digitization projects critical for the Company.
NIL
NA
NA
NA
The Board recommends the resolution set forth in Item No. 6
50
Mahadeo is currently the Regional - Finance Director of for the approval of Members as an Ordinary Resolution.
Ms Ewing is a passionate, transformational

global technology leader with over 22 years
Bachelor of Science in Commerce (with

concentrations in Management Information
Systems and Finance) from the University of
Virginia and a Master of Science in Systems
and Management from New York University.
Abbott Healthcare Private Limited where he oversees financial
By Order of the Board
planning and analysis for Abbott’s Established Pharmaceutical
Businesses in India. Mahadeo is well-versed with pharma and
diagnostics operating business models. He has advised on
Krupa Anandpara
many change management projects while ensuring smooth
Mumbai Company Secretary
(2 via video-conference)
transition and without any business disruption.
May 19, 2023 Membership No. : ACS 16536
Prior to joining Abbott, Mahadeo was associated with Perkin
December 31, 1974

Registered Office :
*Chairman of Stakeholders Relationship Committee and Member of Audit Committee in SNL Bearings Limited.
Elmer India Private Limited and Roche Diagnostics India
Sabina Ewing
of experience.
June 15, 2021

Private Limited. He has also worked with International Best
CIN : L24239MH1944PLC007330
Foods Limited and United Phosphorus.
3, Corporate Park, Sion-Trombay Road, Mumbai - 400 071
None
None
None
NIL
NA
NA
Mahadeo is a fellow Member of the Institute of Chartered Telephone No. : +91-22-6797 8888/+91-22-5046 1000/2000
48
3
Accountants of India and Institute of Cost and Management E-mail : investorrelations.india@abbott.com
Mr Marfatia has over 42 years of diverse

experience in the Legal and Secretarial
streams, of which about 25 years have been
B.Com. from Lala Lajpat Rai College and

Law degree from Government Law College,
Entitled for commission and sitting fees

for attending Meetings of the Board and its
Committees and reimbursement of expenses
for participation in the Board/Committees
Accountants of India. Website : www.abbott.co.in

issued by the Institute of Company Secretaries of India
Kaiyomarz Marfatia
November 22, 1956
March 1, 2011
with Abbott.
0.08 Crores#
Meetings
Mumbai.
None
NIL
66
2*
5
1
Number of Meetings of the Board attended
Membership/Chairmanship of Committees
Sittings fees paid during the year 2022-23.

Directorships in other Indian Companies
Relationship between Directors inter-se

Terms and conditions of Appointment
Expertise in Specific Functional Area
Remuneration proposed to be paid
No. of shares held in the Company

during the financial year 2022-23
(including sitting fees, if any)
in other Indian Companies

Remuneration last drawn
Date of Appointment
Name of Director
ANNEXURE I
Qualifications
Date of Birth
Age
#
Notice (Contd.)
ANNEXURE II Types of Shareholders Login Method

Part A : Access to NSDL e-voting system Individual shareholders 1. Users who have opted for CDSL Easi/Easiest facility, can login through their existing
A. Individual Shareholders holding securities in demat mode-Steps to Login for e-voting and for joining the Virtual holding securities in demat User ID and Password. Option will be made available to reach e-voting page without any
Annual General Meeting (the Meeting) mode with CDSL further authentication. The users to login Easi/Easiest are requested to visit CDSL website
www.cdslindia.com and click on login icon & New System Myeasi Tab and then use your
Types of Shareholders Login Method
existing my easi Username and Password.
Individual shareholders 1. Through NSDL IDeAS facility
holding securities in demat If you are already registered, follow the below steps : 2. After successful login the Easi/Easiest User will be able to see the e-voting option for
mode with NSDL eligible Companies where the e-voting is in progress as per the information provided by
1. Visit the e-services website of NSDL. Open web browser by typing the following URL : the Company. On clicking the e-voting option, the User will be able to see e-voting page
https://eservices.nsdl.com/ either on a Personal Computer or on a mobile. of the e-voting service provider for casting your vote during the remote e-voting period or
2. Click on the “Beneficial Owner” icon under “Login” which is available under joining virtual meeting & voting during the meeting. Additionally, there is also links
“IDeAS” section. provided to access the system of all e-voting service providers, so that the User can visit
the e-voting service providers’ website directly.
3. Enter your User ID and Password in the new screen that opens. After successful
authentication, you will be able to see e-voting services. 3. If the user is not registered for Easi/Easiest, option to register is available at CDSL website
www.cdslindia.com and click on login and New System Myeasi Tab and then click on
4. Click on “Access to e-voting” appearing on the left hand side under e-voting services registration option.
and you will be able to see e-voting page.
4. Alternatively, the User can directly access e-voting page by providing Demat Account
5. Click on options available against Company name or e-voting service provider-NSDL Number and PAN No. from e-voting link available on www.cdslindia.com home page.
and you will be re-directed to NSDL e-voting website for casting your vote during the The system will authenticate the User by sending OTP on registered Mobile No. and
remote e-voting period or joining virtual Meeting and e-voting during the Meeting. E-mail ID as recorded in the Demat Account. After successful authentication, User will be
If you are not registered, follow the below steps : able to see the e-voting option where the e-voting is in progress and also able to directly
access the system of all e-voting service providers.
1. Option to register is available at https://eservices.nsdl.com.
Individual shareholders 1. You can also login using the login credentials of your demat account through your DP
2. Select “Register Online for IDeAS” Portal or click at https://eservices.nsdl.com/ (holding securities in demat registered with NSDL/CDSL for e-voting facility.
SecureWeb/IdeasDirectReg.jsp. mode) login through their
2. Once logged-in, you will be able to see e-voting option. Click on e-voting option, you will
Depository Participants
3. Please follow steps given in points 1-5. be redirected to NSDL/CDSL Depository site after successful authentication, wherein you
can see e-voting feature.
2. Through e-voting website of NSDL
3. Click on options available against Company name or e-voting service provider-NSDL and
1. Open web browser by typing the following URL : https://www.evoting.nsdl.com/. you will be redirected to e-voting website of NSDL for casting your vote during the remote
2. Click on the icon “Login” which is available under “Shareholder/Member” section. e-voting period or joining virtual Meeting and e-voting during the Meeting.
3. Enter your User ID (i.e., your sixteen digit demat account number held with NSDL), Important Note : Members who are unable to retrieve User ID/Password are advised to use Forgot User ID and Forgot
Password/OTP and a Verification Code as shown on the screen. Password option available at respective websites.
4. After successful authentication, you will be redirected to NSDL website wherein you Helpdesk numbers for Individual Shareholders holding securities in demat mode for any technical issues related to
can see e-voting page. Click on options available against Company name or e-voting login through Depository i.e., NSDL and CDSL.
service provider-NSDL and you will be redirected to e-voting website of NSDL for
Login Type Helpdesk details
casting your vote during the remote e-voting period or joining virtual Meeting and
e-voting during the Meeting. Individual Shareholders holding Members facing any technical issue in login can contact NSDL helpdesk by sending a
securities in demat mode with NSDL request at evoting@nsdl.co.in or call at Toll Free No. : 022-4886 7000 and 022-2499 7000.
5. Shareholders/Members can also download NSDL Mobile App “NSDL Speede”
Individual Shareholders holding Members facing any technical issue in login can contact CDSL helpdesk by sending a
facility by scanning the QR code mentioned below for seamless voting experience.
securities in demat mode with CDSL request at helpdesk evoting@cdslindia.com or contact at 1800 22 55 33.
B. Shareholders other than Individual Shareholders holding securities in demat mode and Shareholders holding
securities in physical mode-Steps to Login for e-voting and for joining the virtual Meeting
1. Visit the e-voting website of NSDL at https://www.evoting.nsdl.com/.
2. Click on “Login” under ‘Shareholder/Member’ section.
3. Enter your User ID, your Password/OTP and a Verification Code as shown on the new screen.
Alternatively, if you are registered for NSDL e-services i.e., IDeAS, you can log-in at https://eservices.nsdl.com/ with
your existing IDeAS login. Once you log-in to NSDL e-services after using your log-in credentials, click on e-voting
and you can proceed to Step 2 i.e., Cast your vote electronically.

Notice (Contd.)
4. Your User ID details are given below : 5. You can also take the printout of the votes cast by you by clicking on the print option on the confirmation page.
Manner of holding shares i.e., Demat 6. Once you confirm your vote on the resolution, you will not be allowed to modify your vote.
Your User ID
(NSDL or CDSL) or Physical
Part C : General Instructions :
For Members who hold shares in 8 Character DP ID followed by 8 Digit Client ID
demat account with NSDL For example if your DP ID is IN300*** and Client ID is 12****** then your User 1. Institutional Shareholders (i.e., other than individuals, HUF, NRI etc.) are required to upload their Board Resolution/
ID is IN300***12****** Power of Attorney/Authority Letter by clicking on “Upload Board Resolution/Authority Letter” displayed under “e-voting”
tab or send scanned copy (PDF/JPG Format) of the relevant Board Resolution/Authority Letter, etc. with attested
For Members who hold shares in 16 Digit Beneficiary ID
demat account with CDSL For example if your Beneficiary ID is 12************** then your User ID is specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizer by e-mail to
12************** cstaizoonkhumri@gmail.com with a copy marked to evoting@nsdl.co.in.
For Members holding shares in EVEN Number followed by Folio Number registered with the Company. 2. It is strongly recommended not to share your password with any other person and take utmost care to keep your password
Physical Form For example, if Folio Number is 001*** and EVEN is 101456 then your User ID is confidential. Login to the e-voting website will be disabled upon five unsuccessful attempts to key in the correct password.
101456001*** In such an event, you will need to go through the “Forgot User Details/Password?” or “Physical User Reset Password?”
option available on www.evoting.nsdl.com to reset the password.
5. Your Password details are given below :
3. In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual
a) If you are already registered for e-voting, then you can use your existing password to login and cast your vote. for Shareholders available at the download section of www.evoting.nsdl.com or call on Toll Free No. : 022-4886 7000 and
b) If you are using NSDL e-voting system for the first time, you will need to retrieve the “initial password” which 022-2499 7000 or write to Ms Snehal Bhame-Assistant Manager at evoting@nsdl.co.in.
was communicated to you. Once you retrieve your “initial password”, you need to enter the “initial password” 4. Members may send a request to evoting@nsdl.co.in for procuring User ID and Password for e-voting by providing demat
and the system will force you to change your password. account number/folio number, client master or copy of consolidated account statement, PAN (self-attested scanned copy),
(a) Process to retrieve your “initial password” : AADHAR (self-attested scanned copy). If you are an individual Shareholder holding securities in demat mode, you are
requested to refer to the login method explained above.
If your e-mail ID is registered in your demat account or with the Company, your “initial password” is
communicated to you on your e-mail ID. Trace the e-mail sent to you from NSDL from your mailbox. Part D : Instructions for voting by the Members at Meeting attended through VC/OAVM :
Open the e-mail and open the attachment i.e., .pdf file. The password to open the .pdf file is your 8 digit 1. The procedure for e-voting on the day of the Meeting is same as the instructions mentioned above for remote e-voting.
Client ID for NSDL account, last 8 digits of Client ID for CDSL account or Folio Number for shares held in
physical form. The .pdf file contains your “User ID” and your “Initial Password”. 2. Only those Members, who will be present in the Meeting through VC/OAVM facility and have not casted their vote on the
Resolutions through remote e-voting and are otherwise not barred from doing so, shall be eligible to vote through e-voting
c) If your e-mail ID is not registered, please follow steps mentioned in Part E. system in the Meeting.
6. If you are unable to retrieve or have not received the “initial password” or have forgotten your password : 3. Members who have voted through remote e-voting will be eligible to attend the Meeting. However, they will not be
eligible to vote at the Meeting.
a) If you are holding shares in your demat account with NSDL or CDSL, click on “Forgot User Details/
Password?” option available on www.evoting.nsdl.com. 4. The Members may connect with Ms Snehal Bhame-Assistant Manager, NSDL at evoting@nsdl.co.in for any grievances/
concerns relating to e-voting during the Meeting.
b) If you are holding shares in physical mode, click on “Physical User Reset Password?” option available on
www.evoting.nsdl.com. Part E : Instructions for registration of E-mail Address :
c) If you are still unable to get the password by aforesaid two options, you can send a request at evoting@nsdl.co.in The Members whose e-mail addresses are not registered with the Company are requested to do so by following the process
mentioning your demat account number/folio number, your PAN, your name and your registered address. given below :
Members can also use the OTP (One Time Password) based login for casting the votes on the e-voting system of 1. In case shares are held in physical mode, please provide Folio No., Name of the Shareholder, scanned copies of the
NSDL. Share Certificate (front and back), PAN (self-attested scanned copy), AADHAR (self-attested scanned copy) by e-mail to
einward.ris@kfintech.com.
7. After entering your password, tick on agree to “Terms and Conditions” by selecting on the check box.
2. In case shares are held in demat mode, the Shareholders are requested to get in touch with their respective Depository
8. Thereafter Home page of e-voting will open. Participants for updating their e-mail address. If you are an individual Shareholder holding securities in demat mode,
Part B : Cast your vote electronically and join the Meeting on NSDL e-voting system you are requested to refer to the login method explained at Step 1 (A) i.e., Login method for e-voting and joining virtual
Meeting for individual Shareholders holding securities in demat mode.
1. After successful login at Step 1, you will be able to see all the Companies “EVEN” in which you are holding shares and
whose voting cycle and General Meeting is in active status. 3. Alternatively, Shareholders/Members may send a request to evoting@nsdl.co.in for procuring User ID and Password for
e-voting by providing above-mentioned documents.
2. Select “EVEN” for Abbott India Limited to cast your vote during the remote e-voting period and cast your vote during the
General Meeting. For joining virtual meeting, you need to click on “VC/OAVM” link placed under “Join Meeting”.
3. Cast your vote by selecting appropriate options i.e., assent or dissent, verify/modify the number of shares for which you
wish to cast your vote and click on “Submit” and also “Confirm” when prompted.
4. Upon confirmation, the message “Vote cast successfully” will be displayed.

Notice (Contd.)
Part F : Instructions for Members for attending the Meeting through VC/OAVM :
1. Members will be able to attend the Meeting through VC/OAVM or view the live webcast of the Meeting provided by NSDL
at https://www.evoting.nsdl.com and by following the steps mentioned above for Access to NSDL e-voting system.
After successful login, you can see link of “VC/OAVM link” placed under “Join Meeting” menu against Company name.
You are requested to click on VC/OAVM link placed under Join Meeting menu. The link for VC/OAVM will be available
in Shareholder/Member login where the EVEN of Company will be displayed. Please note, that the Members who do not
have the User ID and Password for e-voting or have forgotten the User ID and Password may retrieve the same by following
the remote e-voting instructions mentioned in the notice to avoid last minute rush.
2. Facility of joining the Meeting through VC/OAVM shall open 30 minutes before the time scheduled for the Meeting and
will be available for Members on first-come-first-served basis.
3. Members are encouraged to join the Meeting through Laptops for better experience. Speakers will be required to allow
Camera and use Internet with a good speed to avoid any disturbance during the Meeting.
4. Please note that Participants connecting from Mobile Devices or Tablets or through Laptop connecting via Mobile
Hotspot may experience Audio/Video loss due to fluctuation in their respective network. It is therefore recommended to
use Stable Wi-Fi or LAN connection to mitigate any kind of aforesaid glitches.
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ABBOTT INDIA LIMITED

ANNUAL REPORT 2022-23

TO MAKE A DIFFERENCE 02 Abbott India at a Glance

ABBOTT INDIA AT A GLANCE

MAKING BETTER HEALTH FY 2022-23 Highlights

healthcare market. With a focus on innovation Therapeutic Areas

Abbott India Limited, a subsidiary of Abbott

Abbott’s citizenship programs and investments

Central Nervous System Vaccines

2 Annual Report 2022-23 3

New Product Launches

• Thyronorm 200 mcg (Hypothyroidism) • Linorma T3 (Hypothyroidism)

*Source: IQVIA - MAT March 2023

4 Annual Report 2022-23 5

OUR INVESTMENT CASE

ADDING VALUE, New Product Launches Focus on International Business

DELIVERING RETURNS We continuously identify the evolving gaps in

Empowered Field representatives

Widespread Robust Distribution Network

6 Annual Report 2022-23 7

innovate life-changing solutions, we empower our teams Shaping a Sustainable Future

The right strategy and approach to investments in new

8 Annual Report 2022-23 9

MANAGING DIRECTOR’S MESSAGE

LEADING FROM FRONT The Multi-Specialty division launched differentiated public

10 Annual Report 2022-23 11

KEY PERFORMANCE INDICATORS

RESERVES & SURPLUS CONTRIBUTION TO

5,349 1,360 3,167 1,035

949 3,004 1,501 46,887

*% To Revenue from Operations

12 Annual Report 2022-23 13

10 YEAR FINANCIAL HIGHLIGHTS

(Amounts in J Crores, unless otherwise stated)

INDIAN GAAP IND AS@

Revenue from Operations #

Other Income 49 48 50 57 117 113 114 81 83 154

Depreciation and Amortization 22 15 14 16 16 17 60 58 66 70

14 Annual Report 2022-23 15

OUR BUSINESS MODEL

Manufactured Capital differentiated products • Effective Distribution

Social & Relationship Capital C re a

LEADING WITH PURPOSE Patient Awareness Programs Digital Initiatives

18 Annual Report 2022-23 19

LEADING TO ENABLE Driving Value For Our People

To establish a strong foundation of knowledge, skills,

To ensure continuous growth and development of our front-

Recognizing the crucial role that first-line managers play

20 Annual Report 2022-23 21

22 Annual Report 2022-23 23

Ensuring the Well-Being of Our Employees Financial Wellness

Listening To Our Employees – Your Voice

24 Annual Report 2022-23 25

LEADING TO DELIVER Building quality Promoting STEM Ensuring Quality and

26 Annual Report 2022-23 27

LEADING TO SHAPE A Approach

At our Goa plant, we took a significant

28 Annual Report 2022-23 29

ETHICS AND COMPLIANCE

LEADING TO SET Board Composition and Diversity Board Committees

7. echanisms to prevent adverse consequences to the complainant in discrimination and harassment