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Companies including Dr Reddy's Laboratories, Sun Pharmaceuticals, ONGC, BPCL and Indian Oil have investments in Russia. Their income projections have become next to impossible.

Indian companies with investments in Russia have gone into a huddle with auditors and valuation experts to determine the value of these investments - a prerequisite to close their books for the financial year.

Auditors and valuers typically use income projections to value investments in subsidiaries and joint ventures. However, uncertainty created by Russia's invasion of Ukraine has made it difficult to arrive at values for investments in that country, experts said.

Companies including Dr Reddy's Laboratories, Sun Pharmaceuticals, ONGC, BPCL and Indian Oil have investments in Russia. Their income projections have become next to impossible.

For instance, the Russian rouble has faced devaluation, affecting realisations from sales in that country. In some cases, sales have stopped altogether.

Russia's stock markets were closed for three weeks at a stretch before finally reopening recently, while several countries, led by the US, have imposed sanctions on Russia. Nobody knows how long the war will prolong, given the strong resistance from Ukraine and slow progress in talks to end the conflict.

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