Aurobindo Pharma Ltd.

Financial

	Aurobindo Pharma	Alembic Pharma	Ipca Laboratories
Operational Metrics
API Sector
US DMF Filings	283.0 .	132.0 .	55.0 .
Europe DMF Filings	2001.0 .	n/a	n/a
Pharmaceutical Sector
Number of ANDA's Filed in USA	820.0 .	257.0 .	44.0 .
Number of ANDA's Approved By USFDA	672.0 .	196.0 .	18.0 .
R&D as a % of Total Sales	5.41 %	7.0 %	2.71 %
Financials
5 yr Average ROE	15.24 %	17.53 %	15.9 %
5yr average Equity Multiplier	1.59	1.58	1.41
5yr Average Asset Turnover Ratio	0.72	0.79	0.81
5yr Avg Net Profit Margin	13.0 %	14.0 %	13.8 %
Price to Book	2.35	4.36	5.52
P/E	23.92	32.99	60.18
5yr Avg Cash Conversion Cycle	-29.67 Days	11.4 Days	74.74 Days
Inventory Days	60.22 Days	92.17 Days	100.02 Days
Days Receivable	30.42 Days	59.84 Days	55.52 Days
Days Payable	111.73 Days	198.11 Days	120.62 Days
5yr Average Interest Coverage Ratio	43.11	42.05	59.4
5yr Avg ROCE	18.43 %	19.16 %	18.97 %
5yr Avg Operating Profit Margin	20.43 %	21.64 %	22.38 %
5 yr average Debt to Equity	0.27	0.27	0.14
5yr CAGR Net Profit	-4.01 %	-10.16 %	1.13 %
5yr Average Return on Assets	9.53 %	10.9 %	11.44 %
Shareholdings
Promoter Holding	51.83 %	69.61 %	46.3 %
Share Pledged by Promoters	20.86 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.11 %	0.13 %	0.01 %
Change in Mutual Fund Holding (3 Yrs)	8.99 %	3.48 %	7.98 %

Business

	Aurobindo Pharma	Alembic Pharma	Ipca Laboratories
Product Wise Break-Up	Product Wise Break-Up Formulations 86.02 Active Pharmaceutical Ingredient (API) 13.98 Generics 0 Branded Generics 0	Product Wise Break-Up Branded Generics 0 Generics 0 Formulations 82.28 Active Pharmaceutical Ingredient (API) 0 Others 17.72	Product Wise Break-Up Branded Generics 54.13 Formulations 21.36 Formulations 0 Active Pharmaceutical Ingredient (API) 0 Others 24.51
Location Wise Break-Up	Location Wise Break-Up USA 51.1 Europe 23.5 Rest of the World 14.4 India 11.0 Australia 0 CIS 0 Asia 0 Africa 0	Location Wise Break-Up CIS 0 Europe 0 Rest of the World 59.07 Asia 0 Africa 0 India 40.93 USA 0 Australia 0	Location Wise Break-Up CIS 3.56 Europe 14.15 Rest of the World 0 Asia Pacific 7.87 Africa 7.68 India 52.01 USA 10.26 Australia 4.47
Asset Break-Up	Asset Break-Up India 60.08 USA 24.19 Europe 8.77 Others 6.96	-	-