Free Essays on The Right Of The Jews

The Holocaust was one of the most dehumanizing and horrific events in the history of mankind. In the 12 years that Hitler ruled Germany, 1933-1945, the satanic Nazis and their collaborators annLast printed 12/18/00 11:43 PMihilated more than six million Jewish people. In the beginning of 1933 about nine million Jews lived in 21 countries of Europe. By 1945 two out of every three European Jews had been killed. (www.mtsu.edu). Upon hearing evidence of such usurpations a number of questions arise. One of the most troubling is how can people claim to have not had any knowledge of the devastation the Nazis were carrying out? Immediately after Adolf Hitler was named Chancellor on January 30,1933, he began to initiate his diabolic plans against the Jews. Once he had obtained the most powerful position in the German government he made swift actions to end democracy in Germany. The Nazis began to put into action to their racial ideologies. The Nazis believed that the Germans of pure Aryan blood were racially superior to all other races. This was the implementation of The "Final Solution"- the decision or plans to completely destroy all European Jewry. Hitler declared his anti-Semitism in the Mein Kampf, written in 1923. In Mein Kampf, Hitler outlined his beliefs that if Germany were to be a strong world power it must be united on the principle of purity. His ideas of extermination were not limited to Jews alone. He targeted homosexuals, physically disabled and mentally ill people as well. He was said to have made early statements in 1939 regarding Jews being completely destroyed if they plunged Germany into another world war. Clearly, Hitler's intentions were evident even before his rise to power. By 1935 Hitler had implemented the Nuremberg laws. These laws were designed to establish the requirements of citizenship and the position of the Jews in the Third Reich and to ensure the purity of the Aryan race. These laws forced Jews t... Free Essays on The Right Of The Jews Free Essays on The Right Of The Jews The Holocaust was one of the most dehumanizing and horrific events in the history of mankind. In the 12 years that Hitler ruled Germany, 1933-1945, the satanic Nazis and their collaborators annLast printed 12/18/00 11:43 PMihilated more than six million Jewish people. In the beginning of 1933 about nine million Jews lived in 21 countries of Europe. By 1945 two out of every three European Jews had been killed. (www.mtsu.edu). Upon hearing evidence of such usurpations a number of questions arise. One of the most troubling is how can people claim to have not had any knowledge of the devastation the Nazis were carrying out? Immediately after Adolf Hitler was named Chancellor on January 30,1933, he began to initiate his diabolic plans against the Jews. Once he had obtained the most powerful position in the German government he made swift actions to end democracy in Germany. The Nazis began to put into action to their racial ideologies. The Nazis believed that the Germans of pure Aryan blood were racially superior to all other races. This was the implementation of The "Final Solution"- the decision or plans to completely destroy all European Jewry. Hitler declared his anti-Semitism in the Mein Kampf, written in 1923. In Mein Kampf, Hitler outlined his beliefs that if Germany were to be a strong world power it must be united on the principle of purity. His ideas of extermination were not limited to Jews alone. He targeted homosexuals, physically disabled and mentally ill people as well. He was said to have made early statements in 1939 regarding Jews being completely destroyed if they plunged Germany into another world war. Clearly, Hitler's intentions were evident even before his rise to power. By 1935 Hitler had implemented the Nuremberg laws. These laws were designed to establish the requirements of citizenship and the position of the Jews in the Third Reich and to ensure the purity of the Aryan race. These laws forced Jews t...

We Are The Future essays

We Are The Future essays In an age where the phrase Youve got mail is second nature and the infinite stretches of knowledge on the information highway are only a click away, we have to stop to think. What are we doing? Where are we going? If there are problems, how do we solve them? There are three main points Id like to present to you and would like to share my opinion with you. First and foremost, if the world expects us to deal with social, environmental, and political problems, how do we know what they are and what to do about them? Secondly, our generation needs to plan and organize to place itself in a better position to make decisions in our daily lives. We cant let computers do everything, and let human interaction go to waste. Third and lastly, in my personal opinion, I believe that service to community, will help us strengthen the bonds of confidence and fill the gaps of age between my generation and yours. Lets take the first main point. Riots, fascists, discrimination, robberies, poverty, school violence, alcohol, drug, and physical abuse, just to name a few. Many of these problems have been have only been attempted to be resolved. Some of them will remain until a meteor falls from the sky. Humanity, and our generation need to know these things. The reality is that were only beginning to notice what is happening to our society. Immersed in makeshift fashions, one-week death diets, and a constant reminder that this is only the beginning are what keep us from accomplishing things. Solution? Currently, none at the moment. Were too busy pretending to discover rocks, too tired to get up and change the channels manually, and undecided on whether we should colonize Mars and search for aliens or stay here and go out with friends to a movie on Saturday night. Secondly, where communication is all but minimized - it is called telecommunications. Where it ...

Conflict Resolution Essay Example | Topics and Well Written Essays - 750 words

Conflict Resolution - Essay Example Conflicts between employees, small groups of employees, or employee unions and employers are manageable because of existence of recognized frameworks that each party can resort to for resolution. Conflicts however threatens an organization’s sustainability when none of the involved parties are willing to be involved in a resolution and existing resolution frameworks are perceived to be incredible. Such was the conflict situation that I experienced in one of my former work environments. The organization had a strong internal workers organization that served both as a union and as a welfare organization. This identified diversified interest from both employees and the organization’s management. Politics among employees led to polarized alignment with two major opposing groups as the union headed for its elections. Incumbent union leaders were seeking reelection but their main rivals had accused them of working with the management to embezzle union funds and undermine empl oyees’ rights. The political environment became more polarized as rumors spread that the organization’s management was planning to influence elections results in order to retain the incumbent office. An unidentified group, in masks, then invaded the pooling station, disrupted counting of votes, and physically abused electoral officials. A massive protest then followed this on claims that the management had interfered with the election results to favor the incumbent office. The opposing group of aspirants then mobilized employees to sabotage work and threatened violence and destruction of the organization’s property if the management failed to either recognize them as leaders, or organized for fresh elections that had to be free and fair. Cause of the conflict The problem in the case was a conflict between the organization’s management and the employees’ fraternity who believed that the organization was misusing its powers to retain a weak leadershi p that it could continue manipulating in order to exploit employees. The problem identifies a conflict involving three groups in the organization. Employees did not like the way their leadership was managed and the relationship between their incumbent leaders and the organization’s management. This difference in management of the union developed a disagreement between a large percentage of employees on one side, and the management and the incumbent leaders on the other sides with support from some employees who were accused of being beneficiaries of the management’s influence, or of being cowardice. This difference polarized the political environment into the elections and was therefore a cause of the resultant conflict between the employees who sabotaged the organization’s operations, and the management. Perceived management’s direct involvement in interfering with the election results is another identifiable cause of the conflict. The organized demonstr ation was, however, the immediate cause of the conflict that involved a disagreement between the administration and employees. Employees accused the organization’s management of exploiting them and using their leaders to suppress their possible opposition, and demanded that their choice leaders be given an opportunity, and the management stops oppressing them. Approach to resolving the conflict The management, of which I was part, applied an authoritarian approach to resolvi

Rhetorical Analysis Essay Example | Topics and Well Written Essays - 500 words

Rhetorical Analysis - Essay Example To conduct a rhetorical analysis, the first step is the identification of the purpose or the author's intent. Questions like what occasion give rise to the need for writing and the intentions of the author are evaluated. The author may attack, defend, praise, blame or teach about a given phenomena. The next step involves the identification of the audience; this involves the identifying and classifying the audience to either primary or secondary audiences as well as identifying the author values for the audience. The third step involves identification of rhetorical strategies used to appeal the audience accept the author views. One common appeal is the aristotean appeal which groups the author's concept to either Ethos Logos or Pathos. Ethos appeals refer to the character and confidence of the writer as well as his credibility. Pathos refers to the emotional appeals, use of repetition and description while logos refer to the use of definitions, laws, statistics and comparisons to conv ince the audience. In conclusion, it is somehow difficult to conduct rhetorical analysis especially identifying the different appeals as well as the audience classification.

Goddesses of the Middle East Essay Example for Free

Goddesses of the Middle East Essay The mythical legends surrounding the Goddesses of the Middle East date back to around 2500 B. C and form a part of some of the earliest recorded literature about ancient civilizations. These legends centre around the Divine Entities worshipped and revered in various sub regions in what was once known as the Ancient Near East but today is known as the Middle East. Though the religious beliefs in these regions were distinctive and each Civilization followed their own Gods and Goddesses most of these divine entities reacted to human conditions and were a product of the cultures that created them. As these cultures evolved over time, so did the Gods and Goddesses who protected and created them. Some of the prominent religions and civilizations who’s Divine Entities were revered and worshipped in the region known as the Ancient Near East includes: (Gordon 1965) †¢ Assyro-Babylonian religion followed in most of Mesopotamia include Sumer, Assyria, Akkad †¢ Ancient Egyptian religion followed in Ancient Egypt †¢ Canaanite religion followed in most of the Levant region including Canaan, Ugarit, Ebla, Mitanni †¢ Hittite, and Hurrian Religions originating in Anatolia and followed by the Hittite Empire including Assuwa, Arzawa †¢ Minoan religion followed by the Minoan civilization including Cyprus and Crete among others. The goddess in early classical mythology has traditionally played the role of a creator. She is believed to have existed before everything and has been credited with creating both heaven and earth as well as giving birth to both other gods and subsequently to human beings. In nearly all early civilizations the Goddess symbolized noble and basic concepts such as birth, death, honour, and justice. She was revered for her divine beauty and also for protecting her husband and children. While the male gods were relegated the duties of guarding the underworld, it was the goddesses who were given the responsibilities of providing comfort and standing guard over the dead until they were given a funeral and send to the underworld. Most of the civilizations depicted above sprung up around great rivers in the Middle east including, the Nile, Tigris, Euphrates, and Ganges. The presence of these rivers nourished a rich agricultural landscape and provided sustenance to agricultural gave civilizations which were predominantly matriarchal societies. (Sasson 1995) These civilizations were heavily influenced by both the blessings and ravages of nature. The rivers that they depended upon for sustenance would both give them abundant crops and wreck immense havoc and destruction in the form of devastating floods. People in these civilizations believed that there was a link between their lives and the pattern of birth –maturity death and re-birth that they observed in the plants and animals around them. The religious beliefs of most of these civilizations compelled them to worship or hold sacred what they thought provided them life and sustenance and also protected them from ravages and destruction the importance of goddesses in the myths and religious beliefs of these civilizations reflected this. The myths and legendary tales of powerful beautiful goddesses who had magical powers and controlled the various forces of nature helped t the people of these ancient civilizations understand the mysteries that pervaded their existence, birth, death, seasons, floods, harvests and drought all made so much more sense when they believed that there was a Supreme or Divine Deity who controlled it all and who they could appease through worship and prayer. In most of these matriarchal societies, this supreme deity was the Great Mother Goddess, who personified all the blessings and peculiarities of Mother Earth. Though there are countless Goddesses who were revered and worshiped in the ancient civilizations of the Middle East the most popular and common ones who were personified in the role of being creators, sustainers and the universal source of nourishment include(Christ 1998) Asherah –This is one of the names of the Sacred Goddess worshiped by the ancient Semitic Civilizations. Other names of this Great Goddess include Goddess of the Tree of Life, Goddess of the Grove. Wet-nurse of the gods. among many others This Goddess worshiped widely in Canaanite religion followed in most of the Levant region was symbolized by a multi branched tree and considered the very force of life that could be found in flocks of cattle and among groves of trees. This Goddess was often worshipped before childbirth and at planting time to grant sustenance. In popular mythology Asherah sometimes appears as curly-haired Goddess riding a sacred lion often holding lilies. Ishtar: Another very famous and popular Babylonian Goddess often known as Light of the World. Righteous judge, Forgiver of Sins and the Framer of all decrees are also few of her other roles and names that she was worshipped by. This Great Goddess is often depicted in breast-offering pose and is also known as the Mother of the fruitful breast. Inanna – was a very powerful Sumerian Goddess who was believed to provide earth with its source of life-water. Often called the Source of the Earths life blood it was believed by the ancient civilizations that this Goddess filled the wells, rivers and springs of the land with her own blood Isis- a very popular and powerful Goddess worshipped by the Ancient Egyptians Isis is perhaps the most famous of all Ancient Middle Eastern Goddesses. Some sources claim that her name means: She of throne, while other sources imply that her name means: She of flesh. Isis’s was revered for using her powers of magic and healing to help humanity Ashnan – She was the ancient Sumerian Goddess of Grain who controlled agricultural sustenance for the civilizations that worshipped her. Belit-Ilani – Worshipped by the ancient Babylonian this Goddess was often held in esteem as the Mistress of the gods. In popular depictions she is portrayed as a woman bearing baby on her left arm and blessing a child with her left. Anath Worshipped by Canaanites, Amorites, Syrians, Egyptians, Hebrews and the Phoenicians. This Goddess symbolized the strength of Life and was the Queen of Heaven and also the Mistress of all the Gods. Anatu – She was the Great Mesopotamian Goddess, often considered the Ruler of the Earth and Queen of the Sky. Chaabou – was held in high reverence by the Semitic religion and relegated as Earth Mother responsible for sustenance and nourishment. Achamoth – Worshipped by the Early Gnostic Christians. She was the Mother Goddess, who was responsible for giving birth and was the effective creator of the material universe, Deborah – was the Sacred Goddess worshiped frequently in the Mycenae and Anatolia regions often identified with the Tree of Life. Erua – was the Babylonian Goddess often revered as the Queen of Heaven. She was responsible for controlling the birth of all creatures big and small in her land. Gula – was another popular Babylonian Great Goddess who was also known as the Fate Goddess and the Great Doctor who was believed to cure any kind of sickness or ailment . Lahmu- a famous Goddess in Akkadian mythology, who is considered to be the mother of Anshar and Kishar, who are credited to have fathered the first Gods of that great ancient civilization. Persian mythology which also plays a part of ancient Middle Eastern Mythology also held the Goddess. Rudaba† in great esteem. This Goddess gave birth to Rostam, the greatest hero in Persian mythology. Derceto –was the Babylonian Sea Goddess also known as the Goddess of Justice. Kadi –was a Babylonian Goddess believed to have the body of a Serpent and the head and breasts of a Woman. Mari –was revered as the Mother Sea, who gave birth to the gods, Shebat was worshipped as the Mesopotamian Moon Goddess responsible for bringing night after day. Tirgata – was revered as Fish Goddess of Syria who controlled the sea and all life within it As these Civilization evolved so did the role of their gods and goddesses. By 2400 B. C religious and devotional practices began to change as aggressive tribes with strong beliefs in worshipping a supreme male god began to invade the matriarchal communities whose supreme diets were Goddesses . New myths developed in which these goddesses were made evil, slain or made inferior to the patriarchal god of the conquerors. The goal in creating these myths was to defame and to dethrone the goddess from her traditional role of Creator and sustainers and to give this role to a new generation of patriarchal warrior Gods who ruled the world through valour and heroic endeavour. As a direct consequence the role of the Goddess in the Patriarchal societies underwent a change from being a loving supreme deity to a vengeful, spiteful Entity who had to be either slain or made subordinate to the male gods in order to control her powers. Many Ancient Babylonian and Mesopotamian Goddesses who were once revered as the Source of Life and Sustenance was discredited slain or made subordinate to a new patriarchal male warrior God. (Christ 1998) One example of how ancient myths of Goddesses changed in patriarchal societies is the legend of the Mesopotamian divinity Tiamat. Revered by the ancient Sumero-Babylonian civilization as a Serpent Goddess of the Watery Abyss a Mother, from whose formless body the Universe was born. She was believed to nourish all life and rule the ocean. Tiamat, in her role as Mother Goddess and Mother Earth, reflected the matriarchal civilization that created her. (Christ 1998) In a patriarchal society the role of Tiamat and the legend surrounding her changes drastically. According to these new myths The Goddess once credited with the creation of the Universe is upset when her husband Appu is slain and decides to destroy what she has created. She gives birth to a race of evil monsters to help in her quest. Together the Goddess and her army of monsters wreck chaos and havoc on all around them. There is no one who can stop Tiamat until Marduk accepts the challenge. In violent battle, Marduk manages to wedge open the mouth of the serpent goddess and fill it with winds of a horrible storm. While the serpent goddess is distracted he slains her by cutting her womb. After killing the Goddess the patriarch warrior feels glorified. He then desecrates the womb that previous mythologies and civilizations revered as the Source of All Life. The myth ends by establishing that the supreme deity is now male and that he and his cohorts of warrior Gods will now be responsible for protecting the civilization. In a patriarchal society the role of the God is relegated from giving birth and nurturing traditionally seen as motherly tasks to being the protector traditionally seen as fatherly tasks The roles of the goddesses in these societies were reduced to subservient status In the new patriarchal civilization, the myths regarding the Goddesses were recreated and often retold till they achieved credibility and became part of a new folklore designed to promote the religion of the new civilization. In this fashion countless legendary myths depicting the creative, nurturing and forgiving nature of the female goddesses were desecrated and in their place grew new myths propounding their evil deeds. In many of these myths the goddess is first discredited and then engaged in battle with the patriarch God. At the end the Patriarch God achieves victory over the Goddess and she is either slain or looses her powers. Another myth which was refashioned along these lines was that of Hathor an Ancient Egyptian Goddess. Hathor, in Ancient Egyptian mythology was revered as the goddess responsible for evoking emotions such as joy, love, dance and song. (Christ 1998) She is fabled to have provided her own nurturing milk to the living and also carried the dead to the underworld. But somewhere in mythology the Hathor who is revered for her very instincts of Love and joy is also painted as a demon that wrecks death and destruction on Humanity. Acting on the directives of the sun god, Ra, who was under the impression that some of his subjects were planning to Kill him Hathor was sent on a mission to destroy the plotters Hathor who also manifested herself in the guise of a lioness known as Sekhmet, attacked all the plotters killing them instantly. Ra was forced to intervene to stop the bloodshed by tricking Sekhmet into believing that she had killed a lot of people so by pouring a massive amount of pomegranate coloured liquid over the battlefield . Sekhmet mistook the liquid for blood stopped the slaughter and transformed back into her goddess form of Hathor. It is ironic in the least to observe that in cultures where the feminine spirit has always been seen as nurturing, loving and creative the role of goddesses of mythology is associated with evil deeds. Perhaps these mythologies have been restructured to assimilate in Patriarchal Societies where the god is associated with social order and discipline. But regardless of their role in mythology many famous Goddesses of the Middle East continue to live in popular imaginations even though the religions and cults associated with them have now been banished. Though the Middle East is now home to new religions such as Christianity Judaism and Islam and the age of idol worship and plural Gods is over, these deities have become part of the common folklore. The Worship of these Goddesses may now be defunct but their legend lives on and continues to pervade subsequent cultural practices in these regions. Works Cited Gordon, Cyrus. The Ancient Near East, 3rd Edition, Revised. W. W. Norton and Company, Inc. , New York, 1965. Christ Carol: Rebirth of the Goddess: Finding Meaning in Feminist Spirituality Routledge; 1st edition 1998 James. E. O. The Ancient Gods: The History and Diffusion of Religion in the Ancient Near East and the Eastern Mediterranean, 1960. Sasson Jack: Civilizations of the Ancient Near East. Charles Scribner’s Sons, New York, 1995. Morton Smith, The Common Theology of the Ancient near East, Journal of Biblical Literature 1952.

Graduation Speech -- Graduation Speech, Commencement Address

"Some people come into our lives and quietly go. Some stay for a while And leave footprints on our hearts And we are never the same again." As I prepared this speech, this quote came to mind as I realized how many of you have left footprints on my heart over the past four years. I have may wonderful memories that I will cherish forever. I remember embarrassing moments when a teacher misunderstood what I said, and then my classmates teased me mercilessly. I remember a time in math class when a student fell asleep and was tied to his chair and chalk dust was thrown all over him. I remember teepee wars and dissecting old smelly eyeballs and cute little minks in biology, staying up all night to finish thesis papers, and taking endless flashcard quizzes. I remember when I was in the hospital my friends visited me and cheered me up. I remember crying together when a coach and two of our peers passed away. We have definitely been through a lot together. But tonight is not only a celebration of the end of high school, it is a celebration of the beginning of our future. Today is the first day of the rest of our lives. Yesterday is not ours to recover, but tomorrow is ours to win or lose. We, the Class of 2006, have chosen "Change The World" as our graduation theme. I think this is the perfect choice for our class, because we will do just that. Our class is very special. We have been leaders in every aspect of our school. Among us are talented athletes, musicians, scholars, artists, actors and actresses. We are skilled in business, family science, agriculture, horticulture, foreign languages, computers, technology, and many other areas. None of us, of course, are good at all of these things, but we are all good at something. Ma... ...odness I'm not a clam or a ham Or a dusty old jar of gooseberry jam! I am what I am! What a great thing to be! If I say so myself Happy every day to me!" We are each unique and have different goals and aspirations. But whether we become a social worker, doctor, auto mechanic, or a politician, we can influence the lives of others in a positive way. Each small thing we do, even just a simple smile or pat on the back, can make a difference to one person. And when we do this daily at school or work or in our family, we are slowly changing our homes, neighborhoods and communities. In the year 2007, at our ten-year reunion, I would like each of us to be able to share how we have left our footprints on the hearts of those around us, and thereby made a difference in our community. We will be able to see how the Class of 2006 has united to change the world.

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

Privacy vs. Surveillance Essay

NSA Surveillance Program: A Threat to Civilians Privacy Since the beginning of WWI, spying activity has become a very important part of national security to United States. To track the activity of people, U.S.A. has many spying agencies and National Security Agency (NSA) is one of them. NSA is the main producer and manager of signal intelligence for the United States. It collects, monitors, translates, and analyses global information, and data for intelligence purposes and performs surveillance programs inside the United States. The activity of NSA and the issue of the privacy of citizens has long been debated for decades. With advanced technology and newly installed equipment it is possible to spy on almost everyone. Though the law enforcement officials consider the NSA surveillance programs as necessary weapons in the war of terror, the civil rights groups claim that it is a clear violation of civilian privacy protected by the Constitution of the United States. The U.S. Constitution gives every U.S. citizen the right to protect their privacy. The Fourth Amendment prohibits â€Å"unreasonable ‘searches and seizures’ and sets out requirements for search warrants based on probable cause as determined by a neutral judge or magistrate† (U.S. Constitution). But the NSA argues that because of security reasons surveillance programs should be continued and appeals to Congress â€Å"not to limit the powers† of NSA. After the disclosures of the classified documents by the former NSA contractor Edward Snowden, it has become clear that NSA willingly avoided judicial system, conducted much broader surveillance program and did not abide by the Constitution at a least bit. The Guardia n reports the vastness of the disclosure shocked many people, including the elected representatives of the Congress who were unaware of the extent of the surveillance. NSA conducts domestic surveillance through a number of programs. The agency never publishes any comprehensive, official list of programs. The majority of the surveillance programs are â€Å"classified†, meaning that they are not available to public. The only reason people know about these programs is because of the whistle blower Edward Snowden who disclosed classified documents after meeting Glenn Greenwald, a reporter of The Guardian. The first disclosed classified document was about the â€Å"Pilot  Project†, which contents shook the country. On October 2, 2013 The New York Times reported that NSA carried out a secret pilot project in 2010 and 2011 â€Å"to test the collection of bulk of data about the location of Americans’ cellphones†. The existence of pilot project was also confirmed by James R. Clapper, the director of national intelligence, at a senate judiciary committee hearing. The pilot project â€Å"used data from cellphone towers to locate anyone† who is using any electronic device which is Wi-Fi or cellular technology enabled. This project was a serious violation of Fourth Amendment and has been highly criticized both by the lawmakers and U.S. citizens. As prof. William Stuntz, a criminal justice scholar and a professor at Harvard Law School, points out the Fourth Amendment was drafted partly in reaction to the British Government in eighteenth century which carried out â€Å"general warrants to seize personal diaries and letters in support of seditious- libel prosecutions† that were aimed to suppress political thought. The top secret documents reveal that the NSA is collecting and storing the online metadata of millions of internet users, â€Å"regardless of whether or not they are the persons of interest to the agency† (The Guardians). Metadata is a cloud or â€Å"envelope that includes the duration of a phone call, the identity of the caller and the receiver; for an email it could include the location information, the sender and the recipient, time, and sometimes it’s content, the web browsing history of an user and in some case account passwords. This envelope can be used to create a detailed picture of an individual’s life. From the disclosed classified documents of Edward Snowden, The Guardian reported on September 30, 2013 that â€Å"NSA has developed a metadata repository, codenamed Marina†. Any computer metadata collected by NSA software is directed to the Marina database, Phone records are directed to a separate system. The agency is also gathering information from Facebook, twitter, Skype to build individual profile of every U.S. citizen (The New York Times). This type of practice of NSA greatly hampers civilians’ right to free speech. Extensive surveillance is harmful because it desponds the exercise of civil liberties. Just consider the surveillance of mass people when they are reading, thinking, and communicating with each other in order to make decisions about social and political issues. The only solution to protect our intellectual privacy to ‘think and decide’ is we need â€Å"intellectual  freedom† from state interference.

Ninteenth Century Entrepreneurs essays

Ninteenth Century Entrepreneur's essays Were the nineteenth century entrepreneurs robber barons? The answers have differing opinions as to who is answering them. One thing is for certain though, the big business entrepreneur's did make decisions to increase their profits but on the other hand their decisions often promoted economic growth, which created new jobs. The industrial leaders of the late nineteenth century were virtually untouchable by laws and regulations of America. These business leaders generally influenced the law makers of our country. Often the American Congress were more partial to the big business in hopes of receiving kick backs for favorable voting for laws helping the corporations. Thus the phrases Rich mans club and the House of Dollars came about The business men who controlled the big corporations lived a lifestyle that was on total polar opposite worlds of the common industrial worker. John D. Rockefeller was estimated to be worth $815,647,796.89 in 1892, and Andrew Carnegie averaged $7,500,000 a year from 1889 to 1899. This disparity in income did not go over to well Americans in the late nineteenth century for the most part still believed in individualism, so when big business leaders started controlling the lives of thousands of people they saw it as a shot at American heritage. Also with the strength and influence of the large corporations, competition of the small businesss in the market economy was On the other hand, big businesses did stimulate the economy which created more jobs for the common man. Goods and products that were mass produced came with lower price tags therefore allowing more people to buy them. This increase in buying power led to a better lifestyle for many Americans. The development of the big corporat ...

Queensland, Australia Geography

Queensland, Australia Geography Population: 4,516,361 (June 2010 estimate)Capital: BrisbaneBordering States: Northern Territory, South Australia, New South WalesLand Area: 668,207 square miles (1,730,648 sq km)Highest Point: Mount Bartle Frere at 5,321 feet (1,622 m)Queensland is a state located in the northeastern part of Australia. It is one of the countrys six states and it is the second largest in area behind Western Australia. Queensland is bordered by Australias Northern Territory, South Australia and New South Wales and has coastlines along the Coral Sea and the Pacific Ocean. In addition, the Tropic of Capricorn crosses through the state. The capital of Queensland is Brisbane. Queensland is most well-known for its warm climate, varying landscapes and coastline and as such, it is one of the most popular tourist areas in Australia.Most recently, Queensland has been in the news due to severe flooding that occurred in early January 2011 and late 2010. The presence of La Nià ±a is said to have been the cause of the flooding. According to CNN, the 2010 spring was Australias wettest in history. The flooding impacted hundreds of thousands of people all over the state. The central and southern parts of the state, including Brisbane, were hit the hardest.The following is a list of ten more geographic facts about Queensland:1) Queensland, like much of Australia has a long history. It is believed that the region making up the state today was originally settled by native Australians or Torres Strait Islanders between 40,000 and 65,000 years ago.2) The first Europeans to explore Queensland were Dutch, Portuguese and French navigators and in 1770, Captain James Cook explorer the region. In 1859, Queensland became a self governing colony after splitting from New South Wales and in 1901, it became an Australian state.3) For much of its history, Queensland was one of the fastest growing states in Australia. Today Queensland has a population of 4,516,361 (as of July 2010). Due to its large land area, the state has a low population density with about 6.7 people per square mile (2.6 people per square kilometer). In addition, less than 50% of Queenslands population lives in its capital and largest city, Brisbane.4) Queenslands government is part of a constitutional monarchy and as such it has a Governor who is appointed by Queen Elizabeth II. The Governor of Queensland has executive power over the state and is responsible for representing the state to the Queen. In addition the Governor appoints the Premier who serves as the head of government for the state. Queenslands legislative branch is made up of the unicameral Queensland Parliament, while the states judicial system is composed of the Supreme Court and the District Court.5) Queensland has a growing economy that is based mainly on tourism, mining and agriculture. The main agricultural products from the state are bananas, pineapples and peanuts and the processing of these as well as other fruits and vegetables make up a sizeable portion of Queenslands economy.6) Tourism is also a major part of Queenslands economy because of its cities, v aried landscapes and coastline. In addition, the 1,600 mile (2,600 km) Great Barrier Reef is located off of Queenslands coast. Other tourist destinations in the state include the Gold Coast, Fraser Island and the Sunshine Coast.7) Queensland covers an area of 668,207 square miles (1,730,648 sq km) and it part of it extends to be the northernmost part of Australia (map). This area, which also includes several islands, is about 22.5% of the total area of the Australian continent. Queensland shares land borders with the Northern Territory, New South Wales and South Australia and much of its coastline is along the Coral Sea. The state is also divided into nine different regions (map).8) Queensland has a varied topography that consists of islands, mountain ranges and coastal plains. Its largest island is Fraser Island with an area of 710 square miles (1,840 sq km). Fraser Island is a UNESCO World Heritage Site and it has many different ecosystems which include rainforests, mangrove forests and areas of sand dunes. East ern Queensland is mountainous as the Great Dividing Range runs through this area. The highest point in Queensland is Mount Bartle Frere at 5,321 feet (1,622 m).9) In addition to Fraser Island, Queensland has a number of other areas that are protected as UNESCO World Heritage Sites. These include the Great Barrier Reef, the Wet Tropics of Queensland and the Gondwana Rainforests of Australia. Queensland also has 226 national parks and three state marine parks.10) The climate of Queensland varies throughout the state but generally inland there are hot, dry summers and mild winters, while the coastal areas have warm, temperate weather year round. The coastal regions are also the wettest areas in Queensland. The states capital and largest city, Brisbane, which is located on the coast has an average July low temperature of 50ËšF (10ËšC) and an average January high temperature of 86ËšF (30ËšC).To learn more about Queensland, visit the states official website.ReferencesMiller, Brandon. (5 January 2011). Flooding in Australia Fueled by Cyclone, La Nina. CNN. Retri eved from: http://edition.cnn.com/2011/WORLD/asiapcf/01/04/australia.flooding.cause/index.htmlWikipedia.org. (13 January 2011). Queensland - Wikipedia, the Free Encyclopedia. Retrieved from: http://en.wikipedia.org/wiki/QueenslandWikipedia.org. (11 January 2011). Geography of Queensland - Wikipedia, the Free Encyclopedia. Retrieved from: http://en.wikipedia.org/wiki/Geography_of_Queensland

Building process Essay Example | Topics and Well Written Essays - 1250 words

Building process - Essay Example Contaminants found in construction sites can either be common contaminants, which are found in every construction site or be on the site because they were previously used in the location. There are many different kinds of contaminants, including metals (such as lead), inorganic compounds (such as cyanide compounds), pesticide, oils and tars, other organic compounds (such as benzene or toluene), fibers, combustible substances, toxic or explosive gases and radioactive waste (Industry Standard Contaminated Construction Sites 2005). These contaminants can affect people's short term health as well as their long term one. The people who are liable to be hurt from them aren't only the workers staying on the site and working on it, but also other people living, working or even passing by! (Hazardous waste sites 2003). Exposure to contamination in soil, water or fumes in the air can "cause harm quickly (acute effects) or cause illness long after exposure (chronic effects)". The exposure may cause different health problems, for instance: headaches and nausea, breathing difficulties, skin rashes, liver or kidney problems and even some types of cancer in the long run. If it alone will not cause it, it will certainly be an important factor in the creation of the disease. In order to avoid this, one must be careful while in a possibly contaminated site refrain from exposure to the contamination, which can be caused by a number of reasons. It is important to evade direct contact of the contaminated materials with the skin and the eyes.

Preferred Learning styles Essay Example | Topics and Well Written Essays - 1000 words

Preferred Learning styles - Essay Example This study was based on descriptive study. Quantitative data was collected from the closed ended questionnaires where the number of students were tallied and presented in a table form. The findings of the study showed that there is no perfect learning style as they have some fault. The study thus recommends that the learning institutes should recommend the best learning style based on the personal traits of the individual. CHAPTER ONE 1.1 Introduction This report focused on analyzing learning style in the learning process. The study focused on analyzing how the learning styles in a classroom set up is influenced by the gender or sex of the students. The study also focused on how the extroverts react to learning styles in a classroom set up. More so, this study focused on how social aspects of the students influence the learning styles. This report focused its premises on the Honey & Mumford learning style in its theoretical framework. In the independent variable, the study had the le arner’s gender and characteristics. 1.2 Literature review This reports based its arguments on the recent literature reviews. The literature in this scope of study shows how learning style concepts have been accepted. It is alleged that several studies that have proved that learning styles area true measure of students’ self evaluation (Rosenberg, 2009) though there is a disagreement on the best way of measuring the various learning styles. It is also alleged that there are several researches that have been done on learning styles but most researchers have not agreed on the importance of designing learning programs (Hall, 2009). In addition, Coffield et al (2004) concludes that provision of correct learning strategies, contexts and methods is better as compared to matching individual student preferences. Marzano (1988) posits that tactile and graphic presentation of subject matter produced noticeable effects the outcomes of learning regardless of attempts to match the g raphic and tactile methods with learners’ modalities. In a recent by Baker (2002), visual studies were quite advantageous among all adults despite the rate of learning style with preference to the visual images. It was also advantageous for learners with strong preferences in the verbal process. According to Merrill (2000), instructional strategies should be determined first by focusing on the goals of the instructions and the learners’ learning preferences and styles are used to adjust the fundamental learning strategies. CHAPTER TWO 2.1 Research methodology The descriptive research design was used in this study. Hypotheses were set and later test made on the participants. The study was conducted in a workshop and follow up activities in the classroom set up. The study involved one classroom and all the students were participants in this study. Questionnaires were administered and the responses were analyzed in a table form. The test score for the various theories was analyzed in a table. The questions were aimed at critically analyzing the self evaluation of the respondents by determining the learners’ style. There was no time limit to this questionnaire. The accuracy of the results depended on how honest you were. There was no right or wrong answers. If you agreed more than you disagreed with a statement, you had to put a tick next to it. If you disagreed more than you agreed a cross was put beside it. 2.2 Participants The research participants were students in a classroom set up.