Circuit Switching Versus Packet Switching

Circuit Switching Versus Packet Switching Nurhazimah Binti Mohd Za’ba Nursyafikah Binti Farakkasi   Nursyahirah Binti Mohd Sanusi   Nur Hidayu Binti Salleh Nur Syafiqah Binti Zulkiflee Nurul Ain Binti Mohd Nassir Adabi ABSTRACT The purpose of this study is to describe difference between packet switching and circuit switching. Circuit switching is dedicated communication between two stations that connected sequence of links between network nodes. It consist 3 phase communication which are establish, transfer and disconnect. Packet switching is data transmitted in small packets that each packet contains a portion of user data plus some control information. There are a few difference between packet switching and circuit switching include the bandwidth, dedicated path, call setup delay and so on. INTRODUCTION In telecommunication networks they carried the information signals among an entity involved in the process of information transfer which may be in the form of a telephone conversation. In order to connect multiple devices, it must be point to point connection between pair of devices which we called as switches. Unfortunately, it will increase the number of connection. There are two types of switching techniques including circuit switching and packet switching. Switching is a collection of switching elements arranged and controlled to setup communication path between any distant points. Circuit switching is a network which allows the associated voice which it will followed between the two respective users refer in the Figure 1 is the circuit switching network.. The end to end communication was established during the duration of the call. It is a dedicated link or path which established between the sender and the receiver. It is maintained for the entire duration of the conversation. Figure 1: Circuit SwitchingNetwork Packet switching is a network which it does not requires establishing the connection in initially. Next, the connection or channel available usually used by many users. But, if the capacity of the users increases, it will lead to congestion in the network. This network mainly used for data and voice applications requiring non-real time scenarios. It also can handle in two ways which are datagram and virtual circuit refer Figure 2 is the Packet Switching network. Figure 2: Packet Switching Network. LITERATURE REVIEW Data communications have been achieved by using a variety network such as PSTN, leased-lines and more recently ISDN and ATM/ Frame relay. These networks are partly or totally analogue or digital using technology such as circuit-switching, packet-switching etc. Main difference between Packet Switching and Circuit switching is that communication lines are not dedicated to passing massage from the sources to the destination. In Packet Switching, different message (and even different packet) can passed through the routes, and when there is a ‘dead time† in the communication between the source and the destination, the lines can be used by other sources. Oguntala George Adeyinka(2013) said that packet switching is an attempt to make a better utilization of the existing network by splitting the message to be sent to packets. Each packet contains information about the sender, the receiver, the position of the packet in the message as well as part of the actual massage. There are many protocols defining the ways packet can be sent from the sender to the receiver. Then, Pablo Molinero-Fernandez Nick McKeown (2004) said that Circuit Switching can be decomposed into a fast path without per-packet processing, and a slower path for establishing/releasing circuit, which is similar in complexity to forwarding a single packet in Packet Switching. However the slow path needs to be taken much less often (for example, the average TCP connection lasts more than 10 packets, which mean that connection are established at an average rate at least 1/10 that of packet processing in router ). For these, we argue that circuit switches can operate much faster than packet switches. The concept of packet switching had two independent beginnings, with Paul Baran and Donald Davies [4]. Leonard Kleinrock [5] conducted early research and authored a book in 1961 in the related field of digital massage switching (without explicity using the concept of the packet), and also later a played a leading roles in building and management of the world’s first packet switched network, namely the ARPANET. After that, K.Giridhar stated Packet switching is also called connectionless networking because no connections are established. The advantage of the connectionless packet model in that packets are forwarded independent of other packets. Packets are forwarded on the fly by routers based on the most current best path to a destination. If a link or routers fails, packets are quickly diverted along another path. Dr.FaridFarahmandDR.Qiong (Jo) Zhang stated the most common example of a circuit-switched network can be found in public telephone network (PTN) supporting services such as POTS (plain old telephone system) and long distances calls. Other examples of a circuit switched services are integrated service digital network (ISDN) and switched 56, 64, 384 (Kbps) services. The majority of wireless application protocols (WAP) enables phone also operate on top of circuit-switched networks. Furthermore, many public networks dedicated to data transport also use circuit-switching techniques; an example of a network in Europe is circuit-switched public data network (CSPDN), which transport data on circuit-switching networks using the X.21 protocol. Circuit-switching also has wide applications in optical networks including wavelength division multiplexed (WDM) systems and WDM SONET networks. METHODOLOGY Topic for our assignment is packet switching. We make a research to get the information about this topic in library and also internet. There’s a lot information we get from internet that give information about definition, benefit and function. The definition of packet switching give us simple introduction to us to understand the concept of packet switching. After we understand the concept, we find out the article or journal from internet that can give us a more information about packet switching. The article must be from year 2012 to make sure that information are relevant with our topic and current study. This article can be found from OPAC system that can used in library website. Every article has their own writer and bibliographic databases that make us easier to find the reference if there’s a question refer to packet switching if we are not understand to topic. In internet, we find extra information by inserting the term of packet switching in key words in Google t o get more explanation about function of packet switching. The bibliographies are used for us for further study and this way give us more information packet switching. The journal is created by other university and this journal help us to understand the topic. The history about packet switching also found in internet and the technology in packet switching also change and it make data can be transfer in good ways even though the data is large. Based from the information get from internet will make us more understand about the topic and help us to success give simple explanation about the topic of packet switching in report. After make research in internet, we go to library to find information regarding our topic which is packet switching. There’s some book that have some explanation about the benefit of packet switching. We also know about the main concept of packet switching from the book in library. The main concepts give more information about how the packet switching work in real situation. After that, we know the weakness and benefit of packet switching in transfer data in computer or cellphone. Even this packet switching have a disadvantage when transferring the data and it still can function more efficient after they develop a new technology this make sure the data can send to location. We also can refer from our senior journal in library after they done their final year project which related with topic packet switching. This information can help us to know the function packet switching with a technology that still use the concept during transferring data in destination address in packet. We also make a small interview with a friend who already work in IT department but the information that we get from him are not related to our topic. So, we are not use that information to be write in this report. Lastly, we combine all the information about packet switching that we found from internet, journal and book to be write in this report. Before we write this report, we already discuss and make some explanations in this report to make sure this report are occupy our objective to understand the topic of packet switching. We try to help each other understand the topic based from information we get from internet , journal , article and book. Everyone have knowledge and information after done this project that can be used in career life. We take about more than one month to finish this research and this report can be use as reference for our junior if they want to continue this research in their present time in future. CONCLUSION At the end of this article, we present the two switching techniques used in networks: circuit switching and packet switching; whereas datagram packet switching and virtual circuit packet switching. Then, we also are able to compare a difference between circuit switching and packet switching. REFERENCES [1] Oguntala George Adeyinka, â€Å"Network Solution, Applications and challenges of Mobile Computing In Africa,† International Journal of Scientific Engineering Research, volume 4, issues 10, pp. 884-889, October 2013. [3] Pablo Molinero-Fernandez Nick McKeown, The Performances of Circuit Switching in the Internet, Computer System Laboratory, Stanford University (2004). [4] Roberts L.G (1978). The Evolution of Packet Switching, Proceedings of the IEEE, vol.66, no11, pp.1307-1313. 1978. [5] Kleinrock L. (1961), Information Flow in Large Communication Nets, RLE Quarterly Progress Report, July 1961. [6] K.Giridhar, â€Å"Packet Switched Data Network and Its Evolution†, Information Technology and Communications Resources for development, Telecommunications and Computer Networks (Tenet) Group, Department Of Electrical Engineering, Indian Institute Of Technology Madras, Chennai-600036, India (2007). [7] Dr.Farid Farahmand DR.Qiong (Jo) Zhang, Circuit Switching, Central Connecticut State University Arizona State University at West Campus (2007). [8]  http://www.slideshare.net/sdsnehaldalvi/circuit-switching-packet-switching [9] Telecommunication System Engineering, Technical University of Malaysia Malacca, chapter 5.

Financial Outlook on Dr. Reddy’s Laboratories

International Finance Project On â€Å"Financial outlook on Dr. Reddy’s Laboratories Ltd. † Submitted to: Prof. S. K. Gupta Submitted by: Date: 31 Dec. 2011 SOURAV KUMAR 2K10IB30 PGDM IB 2010-2012 ASIA PACIFIC INSTITUTE OF MANAGEMENT 3 & 4, Institutional Area, Jasola, New Delhi 110025 INTRODUCTION Established in 1984, Dr. Reddy's Laboratories Ltd. (NYSE: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars, differentiated formulations and News Chemical Entities (NCEs). PURPOSE & VALUES: Providing Affordable Medicines Our Global Generics business helps reduce drug costs for individuals and governments by bringing generic drugs to market as early as possible, and making them available to as many patients as possible. We market both generic small-molecule drugs and generic biopharmaceuticals. In markets with guidelines for approval, our Biologics business offers more affordable and equally effective generic biopharmaceuticals or biosimilars. We supply pharmaceutical ingredients to other generic companies through the API arm of our PSAI business, which contributes to our goal of providing affordable edicine. We will continue to promote affordability in significant ways and work to expand our product offering of generics, focusing on increasing access to products with significant barriers to entry. We will continue to look for new opportunities to take generics to more patients, in collaboration with other companies. Developing Innovative Medicines Despite the great advances of medical science, there are still many unmet medical needs. Our Proprietary Products businesses address some of these unmet medical needs, by developing and bringing to market new drugs. Through innovation in science and technology, combined with a deep understanding of underlying disease pathways, we develop and commercialise new formulations of approved products. We also develop new chemical entities with improved and well-characterised safety and efficacy profiles. We focus our research on the therapeutic areas of pain, anti-bacterials and metabolic disorders. Our Custom Pharmaceutical Services arm of our PSAI business helps innovator companies get their proprietary medicines to patients faster, by providing a range of technology platforms and services. ABOUT THE BUSINESS: The healthcare needs of people worldwide cannot be met by one company alone. Collectively however we can bring new drugs to the market in a fast and efficient manner and provide the building blocks of affordable medicines. Through our PSAI business, which comprises the Active Pharmaceutical Ingredients (API) and Custom Pharmaceutical Services (CPS) businesses, we offer IP advantaged, speedy product development and cost-effective manufacturing services to our customers – generic companies and innovators. This allows us to help make good medicines available to more people around the world. The core strengths of our PSAI business are the state-of-the-art infrastructure, resources and skills we are able to offer to our customers: †¢Large and diverse product portfolio †¢Eight FDA-inspected plants and three technology centers †¢World class chemistry expertise †¢Robust, large-scale manufacturing capabilities †¢Intellectual Property (IP) driven product development for freedom to operate †¢Total, seamless supply chain management PARTNERSHIP PHILOSPHY: At the core of each successful partnership is a great relationship based on trust and mutual respect. As we work towards fulfilling our core purpose we share your aspirations. We recognize and embrace the fact that our partners are a core component of this strategy. We understand that partnerships are successful when benefits accrue to both parties. They are built on a shared vision with well-defined and agreed-upon goals. We also know that that the partners’ thinking and interests may not always be identical, but that we share the same goal—a successful product. Our shared partnership successes are at the very heart of our business. From our first meeting through product launch and beyond, we stand behind our belief in true partnership thereby combining our strengths and sharing our successes. Dr. Reddy's firmly believes that the right alliances can contribute significantly to the success of our partners as well as to our own strategy and sustainable growth. â€Å"At Dr. Reddy’s we aim to foster a culture of building fair, effective, and mutually beneficial—winning—collaborations. The importance that we place on building winning collaborations is evidenced partly by the early and substantial involvement of senior management. In this way, we achieve quick decision-making and the allocation of necessary resources to achieve success. † G V Prasad Vice Chairman and CEO Transparent and Simple process: Clarity of thought, Speed of execution, Flexibility, creativity, and transparency are critical components of our negotiation and transaction process. As no two deals are the same, we work with potential partners to structure deals through customized approaches that allow both partners to leverage unique capabilities and assets in order to achieve common goals. A simple and streamlined process to progress our partnering discussions and a flat organizational structure facilitates rapid decision making from initial screening to execution. As a company that evaluates 100+ business development opportunities in any given year (many of which come to closure), we value the time and resources our potential partners commit to explore and complete any potential partnership. Dr. Reddy’s emphasizes a transparent and collaborative negotiation process and prompt decision making. We bring a reputation for acting swiftly and being flexible. We will work with you to reach an agreement with which you will be comfortable and that will head us in the right direction toward shared success. Sustained relationship based on trust and mutual respect: Our robust alliance management principles and practices allow successful execution of joint initiatives. Dr. Reddy’s is committed to ensuring that our partnerships succeed and flourish. Quarterly Results: Quarterly Results of Dr Reddys Laboratories——————- in Rs. Cr. ——————- Sep '11Jun '11Mar '11Dec '10Sep '10 Sales Turnover1,646. 981,696. 961,329. 161,389. 761,296. 88 Other Income13. 0555. 5429. 1137. 2152. 35 Total Income1,660. 031,752. 501,358. 271,426. 971,349. 23 Total Expenses1,390. 181,085. 201,113. 741,046. 631,022. 98 Operating Profit256. 80611. 76215. 42343. 13273. 0 Profit On Sale Of Assets———- Profit On Sale Of Investments———- Gain/Loss On Foreign Exchange———- VRS Adjustment———- Other Extraordinary Income/Expenses———- Total Extraordinary Income/Expenses———- Ta x On Extraordinary Items———- Net Extra Ordinary Income/Expenses———- Gross Profit269. 85667. 30244. 53380. 34326. 25 Interest15. 7815. 244. 250. 540. 13 PBDT254. 07652. 06257. 78379. 80326. 12 Depreciation73. 4068. 9365. 5063. 8961. 35 Depreciation On Revaluation Of Assets———- PBT180. 67583. 13192. 28315. 91264. 77 Tax42. 17129. 0826. 4153. 1444. 57 Net Profit138. 50454. 05165. 87262. 77220. 20 Prior Years Income/Expenses———- Depreciation for Previous Years Written Back/ Provided———- Dividend———- Dividend Tax———- Dividend (%)———- Earnings Per Share8. 1726. 799. 8015. 5313. 01 Book Value———- Equity84. 7684. 7484. 6384. 6184. 60 Reserves———- Face Value5. 005. 005. 005. 005. 00 ___________________________________________ Balance Sheet of the company (annually): ——————- In Rs. Cr. —————————— DescriptionMar-11Mar-10Mar-09Mar-08 SOURCES OF FUNDS: Share Capital84. 684. 484. 284. Share Warrants & Outstanding39. 333. 935. 532. 5 Total Reserves5896. 35796. 35139. 44695. 2 Shareholder's Funds6020. 25914. 65259. 14811. 8 Secured Loans0. 70. 82. 63. 4 Unsecured Loans1444. 1562. 4637. 745 8. 9 Total Debts1444. 8563. 2640. 3462. 3 Total Liabilities74656477. 85899. 45274. 1 APPLICATION OF FUNDS : Gross Block30252425. 72157. 31750. 2 Less: Accumulated Depreciation13341110. 1946. 5762. 8 Less: Impairment of Assets Net Block16911315. 61210. 8987. 4 Lease Adjustment A/c Capital Work in Progress570. 4745. 4411. 2246. 5 Pre-operative Expenses pending Assets in transit Investments24622555. 1703. 81930. 6 Current Assets, Loans & Advances Inventories1063. 2897. 4735. 1640. 9 Sundry Debtors1770. 51060. 51419. 7897. 7 Cash and Bank66. 2368384. 4536. 7 Other Current Assets1. 80. 62. 8 Loans and Advances2606. 42048. 718401250. 6 Total Current Assets5506. 34376. 44379. 83328. 7 Less: Current Liabilities and Provisions Current Liabilities1440. 71447. 51050. 2680. 9 Provisions1223. 2992. 2665. 6451. 3 Total Current Liabilities2663. 92439. 71715. 81132. 2 Net Current Assets2842. 41936. 726642196. 5 Miscellaneous Expenses not written off Deferred Tax Assets / Liabilities-100. 8-75-90. 4 -86. 9 Total Assets74656477. 85899. 45274. 1 Contingent Liabilities2488. 22412. 21977. 93325. 8 Book Value353. 481087348. 382701310. 190024284. 143876 Adjusted Book Value353. 481087348. 382701310. 19284. 1439 Profit & Loss Statement of the company (annually) ——————- in Rs. Cr. ————————————— DescriptionMar-11Mar-10Mar-09Mar-08 No of Months12121212 INCOME : Gross Sales5284. 74543. 84239. 83449. 7 Less: Inter divisional transfers Less: Sales Returns Less: Excise Duty97. 37480. 984. 5 Net Sales5187. 44469. 84158. 93365. 2 EXPENDITURE : Increase/Decrease in Stock-79-117. 3-64. 1-93. Raw Material Consumed1396. 413461177. 61146. 1 Power & Fuel Cost144. 6104. 19077. 1 Employee Cost701. 2510413. 3368. 6 Other Manufacturing Expenses1053. 9793. 3894698. 2 General and Administration Expenses288. 7195. 6228193. 9 Selling and Distribution Expenses477443. 8448. 7375. 4 Misce llaneous Expenses113. 991. 6121. 930 Less: Expenses Capitalised Total Expenditure4096. 73367. 13309. 42795. 4 Operating Profit (Excl OI)1090. 71102. 7849. 5569. 8 Other Income219220. 5101. 1191. 1 Operating Profit1309. 71323. 2950. 6760. 9 Interest9. 91627. 414. 7 PBDT1299. 81307. 2923. 2746. 2 Depreciation247. 9222. 4193. 162 Profit Before Taxation & Exceptional Items1051. 91084. 8729. 5584. 2 Exceptional Income / Expenses Profit Before Tax1051. 91084. 8729. 5584. 2 Provision for Tax158. 5238. 7168. 6108. 9 Profit After Tax893. 4846. 1560. 9475. 3 Extra items Adjustments to PAT597. 2-24. 8-1. 5 Profit Balance B/F2554. 12039. 11657. 51305. 1 Appropriations4044. 72860. 42218. 41778. 9 Equity Dividend %22522512575 Earnings Per Share52. 801418450. 124407633. 307628. 258 Adjusted EPS52. 801418450. 124407633. 307628. 258 Forex and External commercial borrowings: ——————- in Rs. Cr. ————————â €”———— DescriptionMar-11Mar-10Mar-09Mar-08 EXPORTS Total Inflow In Foreign Currency3747. 73161. 43123. 32366. 8362 Exports – FOB Value3671. 83013. 82892. 52259. 9061 Revenue in Forex75. 9147. 6230. 8106. 9301 Frieght & Insurance Technology transfer fees Service Fees31111. 1197. 959. 2134 Commision Earned2. 4 Dividend received Interest Earnings33. 635. 13236. 8753 Other Exports8. 91. 40. 910. 8414 Capital Inflow – Other Deemed Exports IMPORTS Total Outflow In Foreign Currency1321. 31021. 41180. 91071. 0232 Imports – CIF Value533. 7486. 4553. 8658. 4784 Raw Materials533. 7486. 4553. 8658. 4784 Traded Goods Stores & spares Other Imports Total Capital Outflow277. 3110. 7135. 577. 1814 Capital Goods277. 3110. 7135. 577. 1814 Other Capital Expenditures Repayments of Loans Investment In foreign Currency Expenditure in Foreign Currency510. 3424. 3491. 6335. 3634 Travelling Expenses5. 16109. 385 Interest Expenditure7. 5 Legal Expenses113. 166. 652. 355. 1145 Royalty Technical Fees Commision paid Others384. 6351. 7429. 3270. 8639 Dividend Paid Deemed Imports Raw Materials consumed Material Imported in Amt456. 6334. 2357231. 2115 Material Imported in %43303926. 37 Material Indigenous in Amt609. 8766. 3564. 2645. 144 Material Indigenous in %57706173. 63 Stores and spares consumed Spare Imported in Amt52. 433. 230. 121. 2313 Spares Imported in %1513811 Spare Indigenous in Amt300. 7220. 3326. 3180. 0892 Spares Indigenous in %85879289 Dr Reddy's Laboratories in News Dr Reddy's Laboratories: Higher capacity, New products to pump up growth Kiran Kabtta Somvanshi, ET Bureau Dec 26, 2011, 05. 20am IST Tags: †¢Sun Pharma| †¢Russia| †¢Germany| †¢generics Dr Reddy's Laboratories, the second-largest pharma company (by sales) in India, is at an inflexion point. Its robust performance in the US and Russia is driving its growth. The second half of the fiscal is likely to be better for the company than the first one –characterised by more product launches and increase in market share. It's probably the right time for investors to consider this stock. BUSINESS The company is engaged in generics, bulk drugs & custom services and proprietary products. The genericsbusiness contributes over 70% to its total revenues, which stood at $1. 7 billion in FY11. DRL has focussed on four key regions — North America, India, Russia/CIS and Europe — with an objective to achieve critical mass in the base business. North America is the company's largest and strongest market, contributing onethird of the company's revenues. New product launches, limited competition products and improved market share has helped the company post a strong performance in the region. DRL's German business remains its sore point, pulling down the growth rates for the European region. The pricing pressure brought about by the tender-based business structure has adversely affected its profitability. The Indian business has been a laggard since the last several quarters, but the sequential improvement in its performance in the September quarter is encouraging. Its biosimilars portfolio has done very well and has logged a growth of 22% y-o-y, hinting at a better period in the coming months. The Russian business, though not a large contributor, has proved to be yet another growth driver for the company. The OTC business, in particular, is doing well in the region. GROWTH DRIVERS DRL has targeted revenues of $3 billion and a RoCE of 25% in FY13. The company has a strong pipeline with 76 pending ANDAs (17 tentative approvals). It has 40 Para IV filings of which 11 have first to file opportunities. The company is focussing on scaling up manufacturing and having a higher mix of US generics in total global generics. In Germany, the company has undertaken cost control measures, and has commenced supplies to AOK tenders and launched new products outside the scope of tenders. Its effect would be visible from the current quarter. DRL has a tie-up with GSK to develop and market select products across emerging markets outside India. FINANCIALS While its earnings have been erratic over the years, the company's revenues have grown at a CAGR of around 21% over the last decade. DRL has restructured operations at its German and Mexican units. It has capped risky and expensive R by pulling out research in therapies like diabetes and cardiovascular. Instead, it is now channelising its R efforts towards development of limited competition products, biosimilars and new chemical entities in areas like pain management, anti-infectives and dermatology. CONCERNS Forging growth in its Indian business and profitability in its European operations is a major concern for the company. Its future growth depends on the success of its efforts in these areas. The company has raised `1,077-crore debt in the current quarter to meet working capital requirements and also to refinance old loans. This brings its total debt to over `4,200 crore. VALUATIONS The company's stock is trading at 23 times its consolidated annual earnings. These valuations are lower than its better-performing peers like Sun Pharma and Cipla. Pharma cos with huge FCCBs may not get hit as their export earnings remaining high Sanjay Pingle, Mumbai Monday, December 19, 2011, 08:00 Hrs [IST] Steady depreciation of Rupee against US Dollar and Euro may not have any major impact on Indian pharmaceutical industry despite many pharma companies have huge exposure to foreign currency loans and bonds. To a great extend, such adverse rates will be offset by the sizable export earnings of Indian pharma companies. Continuous depreciation of Indian Rupee against US Dollar and Euro is a great concern for Indian manufacturers having Foreign Currency Loans (FCLs) and Foreign Currency Convertible Bonds (FCCBs). But the exports of these companies are likely to shoot up in 2011-12 with depreciation of rupee in terms of foreign currencies. Indian pharma companies have recorded export earnings of more than 50 per cent of their revenues to US and Europe during 2010-11 and with depreciation of Rupee export earnings are likely to go up significantly. This will reduce the adverse effect on bottom line likely with the current unfavorable foreign exchange rates. Uncertainty in Euro region and recessionary conditions worldwide is making Dollar more firm against several currencies. At present, the exchange rate of Indian Rupee against dollar is moving near to Rs. 55 and that of Euro is moving over Rs. 71 as against Rs. 45. 87 per Dollar and Rs. 61. 13 per Euro year ago. The Dollar appreciated nearly by 20 per cent and Euro by almost 17 per cent within one year making FCL and Foreign Currency Convertible Bonds (FCCBs) payments costlier for Indian companies. The pharma industry has already incurred huge foreign currency loss during the first half of 2011-12 and these are likely to increase in the remaining part of the FY'12 with adverse exchange fluctuations. Though the Indian pharmaceutical companies have created strong networth position in the past, the volatile and adverse change in foreign exchange rates may put pressure on bottom line. The borrowings of Pharmabiz sample of leading 35 companies shows that the total borrowings, including secured and non-secured loan went up by 18. 3 per cent to Rs. 37,709 crore during 2010-11 from Rs. 1,899 crore in the previous year. The secured loans, including foreign currency loans and FCCBs, of 35 companies increased by 19. 8 per cent to Rs. 21,899 crore from Rs. 18,278 crore. As against these borrowings, the net worth, equity capital plus reserves & surplus, of these companies stood at Rs. 68,201 crore as compared toRs. 48,811 crore in the previous year, representing a strong growth of 39. 7 per cent in 2010-11. Out of 35 companies, 23 companies availed FCL or issued FCCBs and the aggregate amount worked out to Rs. 9,560 crore in 2010-11 as compared to Rs. 10,765 crore. Thus, FCL and FCCBs comprised of 25 per cent in 2010-11 of aggregate borrowings as compared to 34 per cent in the last year. The reduction is mainly due to redemption of FCCBs by few companies and repayment of costly FCLs. The aggregate amount of FCCBs issued by these companies reduced by 12 per cent to Rs. 5,382 crore from Rs. 6,118 crore and foreign currency loans by 10. 1 per cent to Rs. 4,178 crore from Rs. 4,647 crore. Ranbaxy Laboratories has outstanding FCCBs aggregating to US$ 440 million as at the end of December 2010. The company has shown Rs. 1,967 crore as unsecured loan for FCCBs as compared to Rs. ,048 crore in the previous year. Orchid Chemicals and Pharmaceuticals has outstanding FCCBs of Rs. 523. 58 crore as against Rs. 607. 74 crore in the 2009-10. Jubilant Lifesciences has reduced its FCCBs amount to Rs. 633. 70 crore from Rs. 861 crore in the previous year. Further, Strides Arcolab has reduced its FCCBs loan to Rs. 457. 28 crore from Rs. 634. 15 crore and Aurobind o Pharma toRs. 620. 76 crore from Rs. 767. 71 crore. Wockhardt's FCCB liabilities increased slightly to Rs. 458. 82 crore from Rs. 446. 40 crore and that of Plethico Pharma's to Rs. 425. 12 crore from Rs. 411. 91 crore. The foreign currency loans (FCLs) of Jubilant Lifesciences went up to Rs. 1755. 71 crore from Rs. 1580. 48 crore and that of Cadila's to Rs. 737. 70 crore from Rs. 722. 80 crore. Biocon has successfully reduced its FCLs to Rs. 189. 94 crore from Rs. 220. 72 crore. Dr Reddy's Laboratories has repaid its FCLs ofRs. 889. 90 crore during 2010-11 through three new short-term borrowings. However, FCL of Lupin went up sharply to Rs 306. 54 crore from Rs. 181. 99 crore in the previous year. Further, FCL of Orchid Chemical went up to Rs. 325. 22 crore from Rs. 250. 02 crore and that of Panacea Biotec to Rs. 359. 4 crore from Rs. 293. 74 crore. Ipca Laboratories FCLs also jumped to Rs. 183. 15 crore from Rs. 125. 52 crore. The sample of Pharmabiz 35 companies have managed to reduce their liabilities in respect of FCCBs and FCLs during 2010-11 and likely to reduce risk of depreciation of Rupee against Dollar and Euro. Further rise in interest rates by RBI will also put additional burden on the sector in 2011-12. However, higher exports may assist to reduce adverse impact on working. Dr. Reddy’s Q2 FY12 Financial Results : Q2 FY12 Revenues at ? 22. 7 billion ($462 million), YoY growth of 21%; Q2 FY12 Adjusted* EBITDA at ? 5. billion ($104 million), YoY growth of 20%; Q2 FY12 Adjusted** PAT at ? 3. 1 billion ($63 million), YoY growth of 8% Hyderabad, India, October 25, 2011: Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) today announced its unaudited consolidated financial results for the quarter ended September 30, 2011 under International Financial Reporting Standards (IFRS). Key Highlights †¢Consolidated revenues are at ? 22. 7 billion ($462 million) in Q2 FY12 versus ? 18. 7 billion ($381 million) in Q2 FY11, year-on-year growth of 21%. Consolidated revenues for H1 FY12 is at ? 42. 5 billion ($866 million). oRevenues from Global Generics for Q2 FY12 are at ? 6. 1 billion ($329 million). Year-on-year growth of 18% mainly driven by North America and Russia. oRevenues from PSAI are at ? 5. 9 billion ($121 million) in Q2 FY12, growth of 28% over previous year. †¢Adjusted* EBITDA of ? 5. 1 billion ($104 million) in Q2 FY12, is at 23% of revenues recording year-on-year growth of 20%. Consolidated adjusted EBITDA for H1 FY12 is at ? 9. 4 billion ($193 million). †¢Adjusted** Profit after Tax for Q2 FY12 is at ? 3. 1 billion ($63 million), is at 14% of revenues with year-on-year growth of 8%. Consolidated adjusted PAT for H1 FY12 is at ? 5. 6 billion ($115 million). During the quarter, the company launched 28 new generic products, filed 17 new product registrations and filed 11 DMFs globally. †¢Dr. Reddy’s today announced the final approval of its olanzapine 20 mg tablets, the generic version of Eli Lilly’s Zyprexa ®from the USFDA. *Note: Adjustments include: benefit from a part reversal of provision booked in Q1 for Voluntary Retirement Scheme (VRS) floated by the company. **Note: Adjustments include: a) intere st on bonus debentures and b) benefit from a part reversal of provision booked in Q1 on account of Voluntary Retirement Scheme (VRS) floated by the company. All figures in millions, except EPS All dollar figures based on convenience translation rate of 1USD = ? 49. 05 Dr. Reddy's Laboratories Limited and Subsidiaries Unaudited Consolidated Income Statement ParticularsQ2 FY12Q2 FY11Growth % ($)(? )%($)(? )(%) Revenue46222,67910038118,70410021 Cost of revenues21410,473461788,7184720 Gross profit24912,206542049,9865322 Operating Expenses Selling, general & administrative expenses1477,216321165,7093126 Research and development expenses301,4596261,270715 Other operating (income) / expense(4)(215)(1)(4)(218)(1)(2) Results from operating activities763,74517663,2251716 Net finance (income) / expense1500135042 Share of (profit) / loss of equity accounted investees(0)(13)(0)(0)(3)(0)- Profit / (loss) before income tax763,70916653,1941716 Income tax (benefit) / expense1363137327293 Profit / (loss) for the period633,07814582,867157 Diluted EPS0. 418. 1 0. 316. 9 Profit Reconciliation: Adjusted EBITDA ReconciliationQ2 FY12Q2 FY11 ($)(? )($)(? ) PBT763,709653,194 Interest522506 Depreciation1887915731 Amortization83896317 EBITDA1065,203874,248 Adjustments: Part reversal of provision booked in Q1 for Voluntary Retirement Scheme(2)(94) Adjusted EBITDA1045,109874,248 Adjusted PAT ReconciliationQ2 FY12Q2 FY11 ($)(? ($)(? ) PAT633,078582,867 Adjustments: Interest on Bonus Debentures2118 Part reversal of provision booked in Q1 for Voluntary Retirement Scheme(2)(94) Tax normalizing adjustment(0)(4) Adjusted PAT633,099582,867 Segmental Analysis Global Generics Revenues from Global Generics segment are at ? 16. 1 billion ($329 million) in Q2 FY12 registering growth of 18% over previous year. †¢Reven ues from North America at ? 6. 3 billion in Q2 FY12 versus ? 4. 4 billion in Q2 FY11. Growth in USD terms of 45% was led by new product launches in the last twelve months and market share improvement in key products. 5 new products launched during the quarter, including limited competition products such as fondaparinux and fexofenadine pseudoephedrine D24 OTC. o24 products of our prescription portfolio feature among the Top 3 rank in market share (Source: IMS Sales Volumes July 2011). oDuring the quarter, 4 ANDAs were filed. The cumulative ANDA filings as of 30th September, 2011 are 177. A total of 76 ANDAs are pending for approval with the USFDA of which 40 are Para IVs and 11 are FTFs. †¢Revenues in Russia & Other CIS markets at ? 3. 4 billion in Q2 FY12 versus ? 2. 8 billion in Q2 FY11, year-on-year growth of 23%. Revenues in Russia at ? 2. 9 billion in Q2 FY12 versus ? 2. 3 billion in Q2 FY11, year-on-year growth in USD terms of 30%, largely driven by volume growth in key b rands. ?OTC portfolio growth of 33% over previous year; OTC sales at 25% of overall Russia sales. ?Dr. Reddy’s year-on-year secondary prescription sales growth at 20% versus industry’s growth of 10%. (Source: Pharmexpert August 2011). Dr. Reddy’s is ranked 12th in market share. oRevenues in Other CIS markets remained flat at ? 477 million in Q2 FY12. †¢Revenues in India increased by 9% to ? 3. 5 billion in Q2 FY12 versus ? . 2 billion in Q2 FY11. o3 new products launched during the quarter. oBiosimilar portfolio growth of 22% over previous year ; represents 6% to sales. †¢Revenues from Europe at ? 2. 1 billion in Q2 FY12, declined by 10% over previous year. oRevenues from Germany declined by 27% to ? 1. 2 billion in Q2 FY12 due to continuing impact of tenders. oRevenues from Rest of Europe grew by 26% to ? 933 million in Q2 FY12 driven by new launches in UK and growth in out-licensing business. Pharmaceutical Services and Active Ingredients (PSAI) â₠¬ ¢Revenues from PSAI are at ? 5. billion in Q2 FY 12 versus ? 4. 6 billion in Q2 FY11, year-on-year increase of 28%. oGrowth in Active Ingredients business led by new product launches in Europe. oPharmaceutical Services business grew on account of improved customer order book status. oDuring the quarter, 11 DMFs were filed globally, with 2 in US, 2 in Europe, 1 in Canada and 6 in rest of the markets. The cumulative DMF filings as of 30th September 2011 are 506. Income Statement Highlights: †¢Gross profit at ? 12. 2 billion ($249 million) in Q2 FY12, margin of 54% to revenues, marginal increase over previous year. Selling, General & Administration (SG&A) expenses including amortization at ? 7. 2 billion ($147 million) increased by 26% over Q2 FY11. This increase is on account of a) higher freight costs both on account of increase in sales volumes as well as rate increases, b) inflation and year-on-year increments linked increase in manpower costs across businesses, c) increment al costs at Bristol and Shreveport manufacturing facilities in the US and d) the increase in the OTC-related selling and marketing costs in Russia and other CIS markets as compared to previous year. R&D expenses at ? 1. 5 billion ($30 million) in Q2 FY12, increase of 15% over Q2 FY11. †¢Net Finance costs are at ? 50 million ($1 million) in Q2 FY 12 versus ? 35 million ($0. 7 million) in Q2 FY11 The change is on account of : oNet forex gain of ? 151 million ($3 million) versus net forex loss of ? 49 million ($1 million) in Q2 FY11. oNet interest expense of ? 225 million ($5 million) in Q2 FY12 versus ? 5 million ($0. 1 million) in Q2 FY11. oProfit on sale of investments of ? 25 million ($0. 5 million) in Q2 FY12 versus ? 19 million ($0. 4 million) in Q2 FY11. Adjusted EBITDA of ? 5. 1 billion ($104 million) in Q2 FY12, is at 23% of revenues with year-on-year growth of 20%. †¢Adjusted Profit after Tax for Q2 FY12 is at ? 3. 1 billion ($63 million), is at 14% of revenues with year-on-year growth of 8%. †¢Adjusted EPS for Q2 FY 12 is at ? 18. 2 ($0. 4) versus ? 16. 9 ($0. 3) in Q2 FY11. †¢Capital expenditure for H1 FY12 is at ? 3. 6 billion ($73 million). Appendix 1: Q2 FY12 Key Balance Sheet Items (In millions) ParticularsAs on 30th Sep 11As on 30th Jun 11 $)(? )($)(? ) Cash and cash equivalents1557,5961115,468 Trade receivables41920,56834917,136 Inventories37918,59235517,401 Property, plant and equipment64131,45062230,524 Goodwill and other intangible assets30815,11530414,921 Loans and borrowings (current & non-current)63831,30348823,940 Trade payables1828,9401728,433 Equity98048,08199748,902 Appendix 2: Q2 FY12 Revenue Mix by Segment (In millions) Q2 FY12Q2 FY 11Growth % ($)(? )as a %($)(? )as a % Global Generics32916,1367127913,6677318 North America 6,28739 4,4163242 Europe 2,11713 2,36617(10) India 3,45921 3,160239 Russia & Other CIS 3,38021 2,7512023 RoW 8936 9747(8) PSAI1215,93326944,6172528 North America 1,06818 8141831 Europe 2,30339 1,5513448 India 75213 6531415 RoW 1,81031 1,5993513 Others1261039420245 Total46222,67810038118,70410021 Appendix 3: Q2 FY12 Revenue Mix by Geography (In millions) Q2 FY12Q2FY 11Growth % ($)(? )as a %($)(? )as a % North America1597,777341115,4642942 Europe924,53620844,1022211 India864,21019783,8132010 Russia & Other CIS693,38015562,7511523 Others572,77512522,573148 Total46222,67810018,70418,10021 Appendix 4: H1 FY12 Consolidated Income Statement All figures in millions, except EPS All dollar figures based on convenience translation rate of 1USD = ? 49. 05 ParticularsH1 FY12H1 FY11Growth % ($)(? )%($)(? )(%) Revenue86642,46210072435,53510019 Cost of revenues40219,7014633916,6354718 Gross profit46422,7615438518,9005320 Operating Expenses Selling, general & administrative expenses28513,9723322811,1913125 Research and development expenses542,6566462,263617 Other operating (income) / expense(8)(401)(1)(8)(404)(1)(1) Results from operating activities1336,533151195,8501612 Net finance (income) / expense296042121(55) Share of (profit) / loss of equity accounted investees(0)(17)(0)(0)(8)(0)113 Profit / (loss) before income tax1326,455151155,6471614 Income tax (benefit) / expense15751214684210 Profit / (loss) for the period1165,704131014,9631415 Diluted EPS0. 733. 6 0. 629. 2 Appendix 5: H1 FY12 Profit Reconciliation (In millions) Adjusted EBITDA ReconciliationH1 FY12H1 FY11 ($)(? )($)(? ) PBT1326,4551155,647 Interest9446(0)(3) Depreciation351,708291,416 Amortization1679412605 Reported EBITDA1929,4041567,665 Adjustments: One-time charge of Voluntary Retirement Scheme142 Adjusted EBITDA1939,4451567,665 Adjusted PAT ReconciliationH1 FY12H1 FY11 ($)(? )($)(? ) Reported PAT1165,7041014,963 Adjustments: Interest on Bonus Debentures5236 One-time charge of Voluntary Retirement Scheme142 Tax normalizing adjustment(7)(364) Adjusted PAT1155,6181014,963

We All Fall Down – Plus Related Text

Nelson Mandela, Former South African President, said â€Å"After climbing a great hill, one only finds that there are many more hills to climb† a journey is full of obstacles, Mandela believed this on his quest to unify the South African people whether they were black or white, he aimed to make them one. For a journey to be effective, they require self-belief and perseverance, when you fall down you have to get back up, and the most important thing that will inspire and influence a change is the reflection one undergoes once it has come to an end.Robert Cormier author of We All Fall Down, Clint Eastwood, director of Invictus and Rosemary Dobson, the poet behind Folding the Sheets all relate their pieces of work to a journey directly or indirectly. In Robert Cormier’s We All Fall Down he uses character development to express a journey. Two key journeys that are represented are the ones in which relate to Buddy Walker and Harry Flowers. Buddy has a problem with alcoholism and his dysfunctional family due to his father walking out on them.Harry is a manipulative character and he acts like he can control anyone especially Buddy. It is ironic that Cormier gave Buddy the last name Walker to demonstrate that it was inevitable that Buddy’s father was going to walk out on them and contribute to what fuels Buddy to drink. The relationship between Buddy and Harry is subtle and hidden as they don’t share many things in common apart from the fact that they are both lost and don’t seem to fit in.Although once compared to each other after the trashing of Karen and Jane’s house Buddy shows the beginning of his development through his feeling of guilt and demonstrating that he has some part of human respect in him, Harry on the other hand doesn’t show any remorse and continues on with his life not caring about how he acts and how he always gets his way. One of Buddy’s major developing moments is when he begins to move away from the group and continues to follow his own path rather than joining in with drinking and the other plans they make.Buddy’s two major inspirations to stop his drinking are Jane and Addy, Addy finds Buddy’s bottles and hides them and will not give them back to him and states â€Å"the sins of omission† the sin of doing nothing. Buddy won Jane on the base that he would give up drinking for her, although he still drinks it isn’t as meaningful compared to the relationship he has with Jane. Harry changes dramatically as through out the novel he has a key moment at the end of the novel after Jane breaks up with Buddy.Harry calls Jane and says â€Å"I took advantage of his shitty life†¦ he is a good guy and don’t be so hard on him† this shows that Harry has began to show remorse on his actions during the trashing is on a â€Å"road to recovery†. The similarity between all of the characters and journeys in this novel is that they all want to belong. Similarly to We All Fall Down, Invictus also follows a journey of wanting to belong, reconciliation, and progression. Nelson Mandela was a prisoner for several years and on his release made President of South Africa.Eastwood used Mandela and Francois Pienaar as key protagonists to bring two divided nations within the one together. Eastwood uses character development to represent the journey of unity. Black against white. Mandela’s goal was to unite South Africa and create equality for black and white people. â€Å"he’s unlike any person I’ve ever met† Mandela is not any ordinay person, he inspired an entire group of people to fight for rights and at the end of the film this is achieved. â€Å"The Rainbow Nation starts here. Reconciliation starts here.Forgiveness starts here too. † Mandela always believed in creation the Rainbow Nation, he was motivated and was inspired. His inspiration inspired he rest of South Africa. Eastwood use s the Rugby as Mandela’s message to the world, he uses Pienaar as a way to get to his team and unify them to share his views on black and white South Africa. The key part to Mandela’s success is the fact he spent several years in prison sacrificing a significant amount of time in his life to change the nation, and change it he did. Undefeated, Unconquerable, Invictus.Mandela wasn’t defeated, he wasn’t conquered but he conquered the South African common attitude and changed it to create equality for black people. â€Å"The Rainbow Nation starts here. † Mandela inspired a nation and the world, helped Pienaar motivate his team an his country to support them trough a rough time and lead themselves to the victory and the glory of winning the World Cup and gave something to all South Africans to share, a reborn nation and the glory of success. Invictus and Folding the Sheets share the similarity of recognising unity.The unity of a nation and the unity of a world and the elements. Dobson uses unity to represent her journey â€Å"from Lapland†¦ to India†. Dobson’s message in her poem is achieving world peace and unity â€Å"You and I will fold the sheets†. He folding of the sheet represents a job that is hard to be completed by ones elf but requires several people to make it easy if they work together, which also relates to how we can work together to achieve world peace and unity between all nations rich or poor, great or weak.The use of mentioning three of the elements earlier on it the poem and stating the fourth in the end represents unity and the coming together of a balance of the earth which van also relate to the coming together of the world â€Å"Together we will match the corners†, it is not possible to achieve unity single handed, it requires a shared belief in achieving it. These three text-types all relate to journeys as they share the commonality of unity and character development.They s how how a journey can either be completed by moving away from people and showing you can stand for yourself and not be controlled by a manipulator, or if you wish to achieve unity or justice then you cant change the world or a nation by your self, you require to share a common belief that it can be done. In their own unique ways We all Fall Down, Invictus and Folding the Sheets all relate to a journey. The two texts and the film all show that we encounter heartache along the way but perseverance and motivation can help us continue no matter how hard the path ahead is.

Understanding Do The Right Thing - 1250 Words

Understanding Do the Right Thing While the 1970’s and 80’s marked a decline in movies featuring black actors and a lack of black directors, the mid 1980’s through the 1990’s invited a new generation of filmmakers and rappers, engaging with the â€Å"New Jack† image, transforming the Ghettos of yesteryears into the hood of today. A major director that emerged during this time was Spike Lee. According to Paula Massood’s book titled, Black City Cinema, African American Urban Experiences in Film, â€Å"†¦Lee not only transformed African American city spaces and black filmmaking practices, he also changed American filmmaking as a whole.† Lee is perhaps one of the most influential film makers of the time, likely of all time. He thrusted black Brooklyn into light, shifting away from the popularity of Harlem. By putting complex characters into an urban space that is not only defined by poverty, drugs, and crime, it suggests the community is more than the black city it on ce was, it is instead a complex cityscape. Despite them being addressed to an African American audience, Lee’s film attract a mixed audience. Spike lee’s Do the Right Thing painted a different image of the African American community, â€Å"The construction of the African American city as community differs from more mainstream examples of the represents black city spaces from the rime period, such as Colors†¦, which presented its African American and Mexican American communities through the eyes of white LAPD officers.† â€Å"Do the RightShow MoreRelatedHow Leadership and Management Complement Each Other in Pragmatic Leadership and the Great Debaters1279 Words   |  6 PagesManagement and leadership are very important functions in getting a job done. 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