US Stock MarketDetailed Quotes

RDY Dr. Reddy's Laboratories

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  • 13.110
  • -0.380-2.82%
Close Feb 25 16:00 ET
  • 13.110
  • 0.0000.00%
Post 20:01 ET
10.92BMarket Cap17.74P/E (TTM)

Dr. Reddy's Laboratories Key Stats

Quarterly+Annual
YOY yoy
Hide blank lines yoy
(Q3)Dec 31, 2024
(Q2)Sep 30, 2024
(Q1)Jun 30, 2024
(FY)Mar 31, 2024
(Q4)Mar 31, 2024
(Q3)Dec 31, 2023
(Q2)Sep 30, 2023
(Q1)Jun 30, 2023
(FY)Mar 31, 2023
(Q4)Mar 31, 2023
Assets
Current assets
Cash, cash equivalents and short term investments
-18.21%59.18B
-6.94%63.07B
60.25%94.63B
31.83%81.47B
31.83%81.47B
49.19%72.36B
145.81%67.78B
71.94%59.05B
39.29%61.8B
39.29%61.8B
-Cash and cash equivalents
67.38%12.29B
-15.39%11.33B
-18.35%4.91B
22.98%7.11B
22.98%7.11B
17.30%7.34B
47.22%13.39B
-0.02%6.02B
-61.09%5.78B
-61.09%5.78B
-Short-term investments
-27.88%46.89B
-4.86%51.74B
69.17%89.71B
32.75%74.36B
32.75%74.36B
53.91%65.02B
194.33%54.39B
87.23%53.03B
89.81%56.02B
89.81%56.02B
Receivables
16.05%111.49B
14.66%102.84B
4.97%81.09B
14.58%95.34B
14.58%95.34B
24.23%96.08B
12.04%89.69B
0.38%77.25B
3.65%83.2B
3.65%83.2B
-Accounts receivable
17.59%92.21B
21.05%84.4B
5.18%81.09B
10.78%80.3B
10.78%80.3B
4.49%78.42B
-9.44%69.72B
5.30%77.1B
8.57%72.49B
8.57%72.49B
-Taxes receivable
----
----
----
----
----
26.79%2.91B
-90.28%298M
-95.91%153M
----
----
-Other receivables
30.68%19.28B
-6.26%18.44B
----
40.32%15.04B
40.32%15.04B
--14.76B
--19.67B
----
13.17%10.72B
13.17%10.72B
Inventory
17.82%71.63B
27.30%72.04B
30.86%68.57B
30.58%63.55B
30.58%63.55B
23.25%60.8B
15.39%56.59B
1.13%52.4B
-4.35%48.67B
-4.35%48.67B
Prepaid assets
16.82%5.31B
108.91%5.75B
----
13.72%4.75B
13.72%4.75B
--4.54B
--2.75B
----
266.96%4.18B
266.96%4.18B
Restricted cash
284.97%743M
----
----
----
----
--193M
--147M
334.05%1.21B
----
----
Other current assets
-1.26%4.16B
402,900.00%4.03B
32.25%24.48B
-46.45%2.77B
-46.45%2.77B
-77.98%4.22B
-99.99%1M
14.23%18.51B
57.15%5.18B
57.15%5.18B
Total current assets
6.10%253.02B
13.98%248.13B
28.03%269.19B
21.44%248.05B
21.44%248.05B
22.62%238.48B
23.97%217.7B
17.00%210.26B
12.32%204.25B
12.32%204.25B
Non current assets
Net PPE
27.83%93.05B
23.01%86.69B
19.55%80.34B
15.68%76.89B
15.68%76.89B
12.00%72.8B
10.44%70.48B
5.30%67.21B
6.91%66.46B
6.91%66.46B
-Gross PPE
----
----
----
11.74%170.14B
11.74%170.14B
----
----
----
7.24%152.27B
7.24%152.27B
-Accumulated depreciation
----
----
----
-8.68%-93.26B
-8.68%-93.26B
----
----
----
-7.50%-85.81B
-7.50%-85.81B
Goodwill and other intangible assets
154.37%104.78B
151.69%103.89B
-2.20%41.37B
17.41%41.2B
17.41%41.2B
16.36%41.19B
14.39%41.28B
16.83%42.31B
10.83%35.09B
10.83%35.09B
-Goodwill
176.53%11.86B
178.78%11.77B
0.12%4.24B
0.19%4.25B
0.19%4.25B
-4.63%4.29B
-2.43%4.22B
-3.26%4.24B
-3.92%4.25B
-3.92%4.25B
-Other intangible assets
151.80%92.93B
148.60%92.12B
-2.46%37.13B
19.78%36.95B
19.78%36.95B
19.41%36.91B
16.69%37.06B
19.59%38.07B
13.22%30.85B
13.22%30.85B
Investments and advances
8.22%9.02B
0.93%5.98B
6.22%5.21B
-2.00%5.26B
-2.00%5.26B
32.71%8.33B
-3.00%5.92B
-5.95%4.9B
-32.86%5.36B
-32.86%5.36B
Non current accounts receivable
--1.56B
--2.28B
--2.62B
38.37%3.72B
38.37%3.72B
----
----
----
4,875.93%2.69B
4,875.93%2.69B
Non current deferred assets
67.38%18.27B
61.28%17.48B
56.14%14.9B
49.72%10.77B
49.72%10.77B
73.12%10.92B
43.34%10.84B
4.45%9.54B
-12.29%7.2B
-12.29%7.2B
Non current prepaid assets
9.29%753M
10.60%751M
----
11.83%747M
11.83%747M
--689M
--679M
----
-0.30%668M
-0.30%668M
Other non current assets
38.27%607M
470.68%759M
102.07%1.66B
570.45%885M
570.45%885M
-76.02%439M
-92.62%133M
-54.82%821M
-41.07%132M
-41.07%132M
Total non current assets
69.72%228.04B
68.43%217.83B
17.09%146.11B
18.60%139.47B
18.60%139.47B
17.03%134.37B
12.10%129.33B
7.32%124.78B
5.97%117.6B
5.97%117.6B
Total assets
29.02%481.06B
34.27%465.96B
23.95%415.3B
20.40%387.52B
20.40%387.52B
20.54%372.84B
19.26%347.02B
13.20%335.04B
9.91%321.85B
9.91%321.85B
Liabilities
Current liabilities
Payables
10.60%49.87B
17.54%50.65B
21.34%38.97B
9.21%44.37B
9.21%44.37B
64.84%45.09B
79.30%43.09B
19.67%32.11B
11.25%40.63B
11.25%40.63B
-accounts payable
15.78%36.02B
17.36%35.78B
23.22%34.11B
20.66%21.55B
20.66%21.55B
19.56%31.11B
33.84%30.49B
10.50%27.68B
11.81%17.86B
11.81%17.86B
-Total tax payable
-28.05%3B
27.70%5.09B
9.61%4.86B
9.24%2.34B
9.24%2.34B
213.13%4.17B
217.02%3.99B
148.57%4.43B
32.76%2.14B
32.76%2.14B
-Other payable
10.63%10.85B
13.49%9.79B
----
-0.71%20.49B
-0.71%20.49B
--9.81B
--8.62B
----
8.94%20.63B
8.94%20.63B
Current accrued expenses
1.62%24.33B
16.07%26.17B
----
13.45%24.78B
13.45%24.78B
--23.95B
--22.54B
----
8.92%21.84B
8.92%21.84B
Current provisions
4.52%5.57B
-2.63%5.1B
1.48%5.47B
-1.30%5.38B
-1.30%5.38B
8.86%5.33B
11.71%5.24B
19.09%5.39B
28.09%5.45B
28.09%5.45B
Current debt and capital lease obligation
217.59%43.51B
472.97%41.18B
222.08%24.45B
15.06%14.03B
15.06%14.03B
-15.47%13.7B
-53.61%7.19B
-66.66%7.59B
-56.60%12.19B
-56.60%12.19B
-Current debt
243.51%42.4B
584.00%40.02B
258.15%23.17B
13.70%12.72B
13.70%12.72B
-19.16%12.34B
-59.85%5.85B
-70.19%6.47B
-58.68%11.19B
-58.68%11.19B
-Current capital lease obligation
-18.44%1.11B
-13.32%1.16B
14.17%1.28B
30.18%1.31B
30.18%1.31B
44.56%1.36B
45.06%1.34B
5.65%1.12B
-1.28%1B
-1.28%1B
Current deferred liabilities
-11.99%2B
-49.02%1.53B
----
-27.56%1.44B
-27.56%1.44B
--2.27B
--3B
----
-23.10%1.98B
-23.10%1.98B
Other current liabilities
104.54%6.67B
49.81%4.67B
3.13%36.79B
61.38%6.03B
61.38%6.03B
-90.93%3.26B
-91.29%3.12B
-2.71%35.67B
49.38%3.74B
49.38%3.74B
Current liabilities
40.97%131.95B
53.59%129.3B
30.84%105.67B
11.87%96.04B
11.87%96.04B
10.92%93.6B
5.19%84.18B
-11.04%80.77B
-8.69%85.85B
-8.69%85.85B
Non current liabilities
Long term provisions
147.54%151M
169.49%159M
1.67%61M
3.39%61M
3.39%61M
7.02%61M
13.46%59M
9.09%60M
3.51%59M
3.51%59M
Long term debt and capital lease obligation
23.20%7.58B
21.81%7.36B
26.35%6.23B
368.70%5.99B
368.70%5.99B
322.24%6.15B
236.66%6.04B
159.06%4.93B
-77.76%1.28B
-77.76%1.28B
-Long term debt
0.00%3.8B
0.00%3.8B
0.00%3.8B
--3.8B
--3.8B
--3.8B
--3.8B
--3.8B
----
----
-Long term capital lease obligation
60.67%3.78B
58.76%3.56B
114.96%2.43B
71.36%2.19B
71.36%2.19B
61.43%2.35B
24.96%2.24B
-40.62%1.13B
-34.33%1.28B
-34.33%1.28B
Non current deferred liabilities
508.43%14.8B
827.39%14.83B
645.33%4.79B
-11.98%2.1B
-11.98%2.1B
1,420.63%2.43B
3,376.09%1.6B
1,067.27%642M
44.12%2.39B
44.12%2.39B
Other non current liabilities
82.48%5.01B
144.83%5.02B
15.97%3.92B
114.69%2.78B
114.69%2.78B
-7.54%2.75B
-27.36%2.05B
21.57%3.38B
56.73%1.29B
56.73%1.29B
Total non current liabilities
141.78%27.54B
180.66%27.37B
66.37%15B
117.80%10.93B
117.80%10.93B
145.31%11.39B
106.72%9.75B
87.99%9.01B
-39.43%5.02B
-39.43%5.02B
Total liabilities
51.91%159.49B
66.79%156.67B
34.40%120.67B
17.72%106.97B
17.72%106.97B
17.93%104.99B
10.84%93.94B
-6.07%89.78B
-11.18%90.86B
-11.18%90.86B
Shareholders'equity
Share capital
0.00%834M
0.00%834M
0.12%834M
0.12%834M
0.12%834M
0.12%834M
0.24%834M
0.12%833M
0.12%833M
0.12%833M
-common stock
0.00%834M
0.00%834M
0.12%834M
0.12%834M
0.12%834M
0.12%834M
0.24%834M
0.12%833M
0.12%833M
0.12%833M
Retained earnings
18.75%299.35B
19.71%285.18B
21.41%279.26B
23.04%265.26B
23.04%265.26B
21.95%252.08B
22.69%238.23B
22.47%230.02B
22.70%215.59B
22.70%215.59B
Paid-in capital
3.55%11.28B
4.07%11.24B
10.12%11B
6.81%10.94B
6.81%10.94B
7.86%10.9B
8.93%10.8B
1.65%9.99B
4.96%10.24B
4.96%10.24B
Less: Treasury stock
-11.96%891M
-10.38%915M
-17.70%972M
-21.91%991M
-21.91%991M
-29.97%1.01B
-33.40%1.02B
-24.78%1.18B
-20.74%1.27B
-20.74%1.27B
Gains losses not affecting retained earnings
488.32%4.48B
458.02%4.52B
-34.49%566M
-26.30%653M
-26.30%653M
206.02%762M
147.71%810M
63.33%864M
17.35%886M
17.35%886M
Other equity interest
-37.97%2.66B
30.47%4.49B
-16.88%3.94B
-18.02%3.86B
-18.02%3.86B
12.35%4.29B
36.41%3.44B
60.07%4.74B
-7.20%4.71B
-7.20%4.71B
Total stockholders'equity
18.62%317.72B
20.65%305.34B
20.13%294.63B
21.45%280.55B
21.45%280.55B
21.60%267.85B
22.72%253.09B
22.39%245.26B
21.24%230.99B
21.24%230.99B
Noncontrolling interests
--3.84B
--3.94B
----
----
----
----
----
----
----
----
Total equity
20.05%321.57B
22.20%309.28B
20.13%294.63B
21.45%280.55B
21.45%280.55B
21.60%267.85B
22.72%253.09B
22.39%245.26B
21.24%230.99B
21.24%230.99B
Currency Unit
INR
INR
INR
INR
INR
INR
INR
INR
INR
INR
Accounting Standards
US-GAAP
US-GAAP
US-GAAP
US-GAAP
US-GAAP
US-GAAP
US-GAAP
US-GAAP
US-GAAP
US-GAAP
Audit Opinions
--
--
--
Unqualified Opinion
--
--
--
--
Unqualified Opinion
--
(Q3)Dec 31, 2024(Q2)Sep 30, 2024(Q1)Jun 30, 2024(FY)Mar 31, 2024(Q4)Mar 31, 2024(Q3)Dec 31, 2023(Q2)Sep 30, 2023(Q1)Jun 30, 2023(FY)Mar 31, 2023(Q4)Mar 31, 2023
Assets
Current assets
Cash, cash equivalents and short term investments -18.21%59.18B-6.94%63.07B60.25%94.63B31.83%81.47B31.83%81.47B49.19%72.36B145.81%67.78B71.94%59.05B39.29%61.8B39.29%61.8B
-Cash and cash equivalents 67.38%12.29B-15.39%11.33B-18.35%4.91B22.98%7.11B22.98%7.11B17.30%7.34B47.22%13.39B-0.02%6.02B-61.09%5.78B-61.09%5.78B
-Short-term investments -27.88%46.89B-4.86%51.74B69.17%89.71B32.75%74.36B32.75%74.36B53.91%65.02B194.33%54.39B87.23%53.03B89.81%56.02B89.81%56.02B
Receivables 16.05%111.49B14.66%102.84B4.97%81.09B14.58%95.34B14.58%95.34B24.23%96.08B12.04%89.69B0.38%77.25B3.65%83.2B3.65%83.2B
-Accounts receivable 17.59%92.21B21.05%84.4B5.18%81.09B10.78%80.3B10.78%80.3B4.49%78.42B-9.44%69.72B5.30%77.1B8.57%72.49B8.57%72.49B
-Taxes receivable --------------------26.79%2.91B-90.28%298M-95.91%153M--------
-Other receivables 30.68%19.28B-6.26%18.44B----40.32%15.04B40.32%15.04B--14.76B--19.67B----13.17%10.72B13.17%10.72B
Inventory 17.82%71.63B27.30%72.04B30.86%68.57B30.58%63.55B30.58%63.55B23.25%60.8B15.39%56.59B1.13%52.4B-4.35%48.67B-4.35%48.67B
Prepaid assets 16.82%5.31B108.91%5.75B----13.72%4.75B13.72%4.75B--4.54B--2.75B----266.96%4.18B266.96%4.18B
Restricted cash 284.97%743M------------------193M--147M334.05%1.21B--------
Other current assets -1.26%4.16B402,900.00%4.03B32.25%24.48B-46.45%2.77B-46.45%2.77B-77.98%4.22B-99.99%1M14.23%18.51B57.15%5.18B57.15%5.18B
Total current assets 6.10%253.02B13.98%248.13B28.03%269.19B21.44%248.05B21.44%248.05B22.62%238.48B23.97%217.7B17.00%210.26B12.32%204.25B12.32%204.25B
Non current assets
Net PPE 27.83%93.05B23.01%86.69B19.55%80.34B15.68%76.89B15.68%76.89B12.00%72.8B10.44%70.48B5.30%67.21B6.91%66.46B6.91%66.46B
-Gross PPE ------------11.74%170.14B11.74%170.14B------------7.24%152.27B7.24%152.27B
-Accumulated depreciation -------------8.68%-93.26B-8.68%-93.26B-------------7.50%-85.81B-7.50%-85.81B
Goodwill and other intangible assets 154.37%104.78B151.69%103.89B-2.20%41.37B17.41%41.2B17.41%41.2B16.36%41.19B14.39%41.28B16.83%42.31B10.83%35.09B10.83%35.09B
-Goodwill 176.53%11.86B178.78%11.77B0.12%4.24B0.19%4.25B0.19%4.25B-4.63%4.29B-2.43%4.22B-3.26%4.24B-3.92%4.25B-3.92%4.25B
-Other intangible assets 151.80%92.93B148.60%92.12B-2.46%37.13B19.78%36.95B19.78%36.95B19.41%36.91B16.69%37.06B19.59%38.07B13.22%30.85B13.22%30.85B
Investments and advances 8.22%9.02B0.93%5.98B6.22%5.21B-2.00%5.26B-2.00%5.26B32.71%8.33B-3.00%5.92B-5.95%4.9B-32.86%5.36B-32.86%5.36B
Non current accounts receivable --1.56B--2.28B--2.62B38.37%3.72B38.37%3.72B------------4,875.93%2.69B4,875.93%2.69B
Non current deferred assets 67.38%18.27B61.28%17.48B56.14%14.9B49.72%10.77B49.72%10.77B73.12%10.92B43.34%10.84B4.45%9.54B-12.29%7.2B-12.29%7.2B
Non current prepaid assets 9.29%753M10.60%751M----11.83%747M11.83%747M--689M--679M-----0.30%668M-0.30%668M
Other non current assets 38.27%607M470.68%759M102.07%1.66B570.45%885M570.45%885M-76.02%439M-92.62%133M-54.82%821M-41.07%132M-41.07%132M
Total non current assets 69.72%228.04B68.43%217.83B17.09%146.11B18.60%139.47B18.60%139.47B17.03%134.37B12.10%129.33B7.32%124.78B5.97%117.6B5.97%117.6B
Total assets 29.02%481.06B34.27%465.96B23.95%415.3B20.40%387.52B20.40%387.52B20.54%372.84B19.26%347.02B13.20%335.04B9.91%321.85B9.91%321.85B
Liabilities
Current liabilities
Payables 10.60%49.87B17.54%50.65B21.34%38.97B9.21%44.37B9.21%44.37B64.84%45.09B79.30%43.09B19.67%32.11B11.25%40.63B11.25%40.63B
-accounts payable 15.78%36.02B17.36%35.78B23.22%34.11B20.66%21.55B20.66%21.55B19.56%31.11B33.84%30.49B10.50%27.68B11.81%17.86B11.81%17.86B
-Total tax payable -28.05%3B27.70%5.09B9.61%4.86B9.24%2.34B9.24%2.34B213.13%4.17B217.02%3.99B148.57%4.43B32.76%2.14B32.76%2.14B
-Other payable 10.63%10.85B13.49%9.79B-----0.71%20.49B-0.71%20.49B--9.81B--8.62B----8.94%20.63B8.94%20.63B
Current accrued expenses 1.62%24.33B16.07%26.17B----13.45%24.78B13.45%24.78B--23.95B--22.54B----8.92%21.84B8.92%21.84B
Current provisions 4.52%5.57B-2.63%5.1B1.48%5.47B-1.30%5.38B-1.30%5.38B8.86%5.33B11.71%5.24B19.09%5.39B28.09%5.45B28.09%5.45B
Current debt and capital lease obligation 217.59%43.51B472.97%41.18B222.08%24.45B15.06%14.03B15.06%14.03B-15.47%13.7B-53.61%7.19B-66.66%7.59B-56.60%12.19B-56.60%12.19B
-Current debt 243.51%42.4B584.00%40.02B258.15%23.17B13.70%12.72B13.70%12.72B-19.16%12.34B-59.85%5.85B-70.19%6.47B-58.68%11.19B-58.68%11.19B
-Current capital lease obligation -18.44%1.11B-13.32%1.16B14.17%1.28B30.18%1.31B30.18%1.31B44.56%1.36B45.06%1.34B5.65%1.12B-1.28%1B-1.28%1B
Current deferred liabilities -11.99%2B-49.02%1.53B-----27.56%1.44B-27.56%1.44B--2.27B--3B-----23.10%1.98B-23.10%1.98B
Other current liabilities 104.54%6.67B49.81%4.67B3.13%36.79B61.38%6.03B61.38%6.03B-90.93%3.26B-91.29%3.12B-2.71%35.67B49.38%3.74B49.38%3.74B
Current liabilities 40.97%131.95B53.59%129.3B30.84%105.67B11.87%96.04B11.87%96.04B10.92%93.6B5.19%84.18B-11.04%80.77B-8.69%85.85B-8.69%85.85B
Non current liabilities
Long term provisions 147.54%151M169.49%159M1.67%61M3.39%61M3.39%61M7.02%61M13.46%59M9.09%60M3.51%59M3.51%59M
Long term debt and capital lease obligation 23.20%7.58B21.81%7.36B26.35%6.23B368.70%5.99B368.70%5.99B322.24%6.15B236.66%6.04B159.06%4.93B-77.76%1.28B-77.76%1.28B
-Long term debt 0.00%3.8B0.00%3.8B0.00%3.8B--3.8B--3.8B--3.8B--3.8B--3.8B--------
-Long term capital lease obligation 60.67%3.78B58.76%3.56B114.96%2.43B71.36%2.19B71.36%2.19B61.43%2.35B24.96%2.24B-40.62%1.13B-34.33%1.28B-34.33%1.28B
Non current deferred liabilities 508.43%14.8B827.39%14.83B645.33%4.79B-11.98%2.1B-11.98%2.1B1,420.63%2.43B3,376.09%1.6B1,067.27%642M44.12%2.39B44.12%2.39B
Other non current liabilities 82.48%5.01B144.83%5.02B15.97%3.92B114.69%2.78B114.69%2.78B-7.54%2.75B-27.36%2.05B21.57%3.38B56.73%1.29B56.73%1.29B
Total non current liabilities 141.78%27.54B180.66%27.37B66.37%15B117.80%10.93B117.80%10.93B145.31%11.39B106.72%9.75B87.99%9.01B-39.43%5.02B-39.43%5.02B
Total liabilities 51.91%159.49B66.79%156.67B34.40%120.67B17.72%106.97B17.72%106.97B17.93%104.99B10.84%93.94B-6.07%89.78B-11.18%90.86B-11.18%90.86B
Shareholders'equity
Share capital 0.00%834M0.00%834M0.12%834M0.12%834M0.12%834M0.12%834M0.24%834M0.12%833M0.12%833M0.12%833M
-common stock 0.00%834M0.00%834M0.12%834M0.12%834M0.12%834M0.12%834M0.24%834M0.12%833M0.12%833M0.12%833M
Retained earnings 18.75%299.35B19.71%285.18B21.41%279.26B23.04%265.26B23.04%265.26B21.95%252.08B22.69%238.23B22.47%230.02B22.70%215.59B22.70%215.59B
Paid-in capital 3.55%11.28B4.07%11.24B10.12%11B6.81%10.94B6.81%10.94B7.86%10.9B8.93%10.8B1.65%9.99B4.96%10.24B4.96%10.24B
Less: Treasury stock -11.96%891M-10.38%915M-17.70%972M-21.91%991M-21.91%991M-29.97%1.01B-33.40%1.02B-24.78%1.18B-20.74%1.27B-20.74%1.27B
Gains losses not affecting retained earnings 488.32%4.48B458.02%4.52B-34.49%566M-26.30%653M-26.30%653M206.02%762M147.71%810M63.33%864M17.35%886M17.35%886M
Other equity interest -37.97%2.66B30.47%4.49B-16.88%3.94B-18.02%3.86B-18.02%3.86B12.35%4.29B36.41%3.44B60.07%4.74B-7.20%4.71B-7.20%4.71B
Total stockholders'equity 18.62%317.72B20.65%305.34B20.13%294.63B21.45%280.55B21.45%280.55B21.60%267.85B22.72%253.09B22.39%245.26B21.24%230.99B21.24%230.99B
Noncontrolling interests --3.84B--3.94B--------------------------------
Total equity 20.05%321.57B22.20%309.28B20.13%294.63B21.45%280.55B21.45%280.55B21.60%267.85B22.72%253.09B22.39%245.26B21.24%230.99B21.24%230.99B
Currency Unit INRINRINRINRINRINRINRINRINRINR
Accounting Standards US-GAAPUS-GAAPUS-GAAPUS-GAAPUS-GAAPUS-GAAPUS-GAAPUS-GAAPUS-GAAPUS-GAAP
Audit Opinions ------Unqualified Opinion--------Unqualified Opinion--