Exhibit 7.5(b)
Pharmaceutical firms—common size income statement
(Percentage of sales)
Glaxo
Ranbaxy
Cipla
Sun
DRL
2001
2000
2001
2000
2001
2000
2001
2000
2001
2000
IncomeSales
100
100
100
100
100
100
100
100
100
100
Other income
3.187969
2.1009898
1.091654
4.308203
1.417037
2.280674
2.351309
2.46326
0.900892
0.98779
Change in stocks
–0.89734
3.3356352
1.209751
1.011145
6.074343
4.44479
7.313372
0.680528
2.874178
–0.05071
Non-recurring income
8.147428
2.0926193
3.704597
0.15273
0.585376
0.211102
0.228441
0.373664
0.144264
0.093303
ExpenditureRaw materials etc.
46.93736
52.014146
53.75433
56.48448
50.51149
50.56466
47.17304
44.67268
35.2397
33.53414
Indirect t
axes
8.477464
9.3215728
4.000474
5.287087
8.270215
8.731577
11.62438
10.11607
7.467415
11.56343
Excise duty
7.765657
8.7869086
3.755392
5.031025
7.947545
8.708265
8.638329
7.611055
7.198055
11.18007
Repairs & maintenance
1.052547
1.2241823
0.617574
0.629571
2.119488
1.915456
1.207473
1.108467
3.032565
3.030303
Selling & dist.
7.915511
6.92
44774 14.53309
11.46283
8.531492
6.681431
7.610345
8.443971 10.71587
14.52882
Non-recurring exp.
9.956382
0
5.496366
0.249006
1.975286
0
0.024476
0
0.237077
0.13184
EBDIT
11.67435
13.771528
10.92712
15.44188
18.26443
24.44375
27.47654
23.89571
26.37605
19.52051
Less: Dep
2.288844
1.7169942
2.080873
2.52887
1.115783
1.727666
2.628702
2.872411
4.289577
2.651008
Less: Int.
0.935697
1.2712
662
2.009338
3.19927
0.189176
0.354858
1.248266
2.173096
4.376337
3.316295
PBT
8.449812
10.783267
6.836912
9.713744
16.95947
22.36123
23.59958
18.8502
17.71014
13.5532
Less: Tax
4.066578
3.402599
1.092501
0.609913
4.176155
5.128604
1.541976
1.386106
3.135467
1.318405
PAT
4.383234
7.3806684
5.744412
9.103831
12.78332
17.23263
22.0576
17.46409
14.57467
12.2348