1. As per the transitional provision given in the notification issued
 by Ministry of Corporate Affairs dated 31 March 2009, the Company had
 opted to adjust the exchange difference on long-term foreign currency
 monetary items. The notification was in effect till 31 March 2011.
 
 In the current year, the Company has amortised the entire balance of
 exchange differences accumulated in the ‘Foreign currency monetary item
 translation difference account (‘FCMITDA) and taken effect of such
 differences to the profit and loss account. Further, in accordance with
 the provisions of the notification, the exchange differences arising on
 restatement of long term loans utilised on acquiring capital assets
 were adjusted to the cost of such assets.  The depreciation on such
 assets has been charged to the Profit and Loss Account.
 
 Accordingly, exchange differences of Rs 289.56 (2010 - Rs 26.37) have
 been transferred to Profit and Loss Account and Rs 0.56 (2010 - Rs 10.55)
 have been adjusted to cost of capital assets.
 
 2.  CONTINGENT LIABILITIES AND CAPITAL COMMITMENT NOT PROVIDED FOR
 
                                      31 March 2011    31 March 2010
 
 (a) Bank guarantees                      20.28           20.77
 
 Disputed income tax/excise 
 
 duty/sales tax                           27.37           26.77
 
 Claims against the Company not 
 acknowledged as debts (Refer Note i)      0.15            0.39
 
 Open letters of credit                    6.39            5.27
 
 Indemnity bond                          260.25          345.37 
 
 Call money payable to Glenmark
 Pharmaceuticals (Thailand ) Co. Ltd.
 
 (16,415 shares @ THB 50 per ordinary 
 share)                                    1.23            1.15
 
 Corporate guarantee (Refer Note ii)   5,687.13        8,283.01
 
 Corporate guarantee (Refer Note iii)  1,206.36        1,218.78
 
 iii) The Companys subsidiary, Glenmark Generics Inc., U.S.A (GGI)
 (formerly known as Glenmark Pharmaceuticals Inc., U.S.A. (GPI) on 2
 June 2006 has entered into an Agreement with Paul Royalty Fund Holdings
 II (PRF) pursuant to which, PRF will pay upto USD 27 million to GGI for
 the development and commercialisation of certain products for the US
 market. Further, the Company has entered into a Master Services,
 License, Manufacturing and Supply Agreement with GGI to develop and
 manufacture the aforesaid products, and also issued a financial
 guarantee in favour of PRF for an amount not exceeding USD 27 million
 for the benefits under the said agreement.
 
 (b) Estimated amount of contracts remaining to be executed on capital
 account, net of advances, not provided for as at 31 March 2011
 aggregate Rs 233.78 (2010 – Rs 137.15).
 
 3.  EARNINGS PER SHARE
 
 Basic earnings per share is calculated by dividing the net profit for
 the year attributable to equity shareholders by the weighted average
 number of equity shares outstanding during the year.
 
 For the purpose of calculating diluted earnings per share, the weighted
 average number of shares outstanding are adjusted for the effects of
 all dilutive potential equity shares from the exercise of options on
 unissued share capital and on conversion of FCC Bonds.
 
 The calculations of earnings per share (basic and diluted) are based on
 the earnings and number of shares as computed below.
 
 3.  SEGMENT INFORMATION
 
 Business segments
 
 The Company is primarily engaged in a single segment business of
 formulations and is managed as one entity, for its various activities
 and manufacturing and marketing of pharmaceutical is governed by a
 similar set of risks and returns.
 
 Geographical segments
 
 In the view of the management, the Indian and export markets represent
 geographical segments.
 
 Sales by market – The following is the distribution of the Companys
 sale by geographical market:
 
 4.  RELATED PARTY DISCLOSURES
 
 In accordance with the requirements of Accounting Standard - 18
 Related Party Disclosures, the names of the related parties where
 control exists and/or with whom transactions have taken place during
 the year and description of relationships, as identified and certified
 by the management are as follows:
 
 5.  OUTSTANDING DUES TO MICRO, SMALL AND MEDIUM SCALE BUSINESS
 ENTERPRISES
 
 The Company has not received any information from the suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosures, if any, relating to the
 amounts as at year end together with interest paid/payable as required
 under the said Act have not been given.
 
 6.  LEASES
 
 The Company has taken on lease/leave and licence godowns/residential
 and office premises at various locations in the country.
 
 i) The Companys significant leasing arrangements are in respect of the
 above godowns and premises (including furniture and fittings therein,
 as applicable). The aggregate lease rentals payable are charged to
 Profit and Loss Account as Rent.
 
 ii) The Leasing arrangements which are cancellable range between 11
 months to 5 years. They are usually renewable by mutual consent on
 mutually agreeable terms. Under these arrangements, generally
 refundable interest free deposits have been given. An amount of Rs 83.35
 (2010 - Rs 83.91) towards deposit and unadjusted advance rent is
 recoverable from the lessor.
 
 7.  TAXATION
 
 Provision for current taxation for the Company of Rs 674.15 represents
 Minimum Alternate Tax pursuant to the provisions of Section 115JB of
 the Income Tax Act, 1961 of India.
 
 The Finance Act, 2005 inserted sub section (1A) to Section 115JAA to
 grant tax credit in respect of MAT paid under Section 115JB of the Act
 with effect from Assessment Year 2006-07 and carry forward the credit
 for a period of 10 years. In accordance with the Guidance Note issued
 on Accounting for credit available in respect of Minimum Alternative
 Tax (MAT) under the Income Tax Act 1961 by the Institute of the
 Chartered Accountants of India, the Company has recognised MAT Credit
 which is expected to be set-off against the tax liability, other than
 MAT in future years. Accordingly, an amount of Rs 286.15 for the current
 year and has been recognised as MAT Credit Entitlement in Schedule 12 -
 Loans and Advances.
 
 8.  EMPLOYEE BENEFITS
 
 The disclosures as required as per the revised AS 15 are as under:
 
 1.  Brief description of the Plans
 
 The Company has various schemes for long-term benefits such as
 Provident Fund, Superannuation, Gratuity and Leave Encashment. In case
 of funded schemes, the funds are recognised by the Income tax
 authorities and administered through appropriate authorities. The
 Companys defined contribution plans are Superannuation and Employees
 Provident Fund and Pension Scheme (under the provisions of the
 Employees Provident Funds and Miscellaneous Provisions Act, 1952)
 since the Company has no further obligation beyond making the
 contributions. The Companys defined benefit plans include Gratuity and
 Leave Encashment.
 
 9.  FOREIGN CURRENCY CONVERTIBLE BOND ISSUED
 
 A) The Company had issued 30,000 Zero Coupon Foreign Currency
 Convertible Bonds of USD 1,000 each, Rs 1,331.70 at issue (value
 including foreign exchange translation as at 31 March 2010 is Rs
 1,354.20) on the following terms:
 
 (i) Convertible at the option of the bondholder at any time on or after
 11 November 2007 but prior to the close of business on 29 November 2010
 at a fixed exchange rate of Rs 44.94 per 1 USD and the conversion price
 of Rs 582.60 per share of Rs 1 each.
 
 (ii) Redeemable in whole but not in part at the option of the Company
 on or after 10 January 2010 if closing price of the share for each of
 the 25 consecutive trading days immediately prior to the date upon
 which notice of such redemption is given was at least 130% of the
 applicable Early Redemption Amount divided by the Conversion Ratio.
 
 (iii) Redeemable on maturity date on 11 January 2011 at 139.729% of its
 principal amount if not redeemed or converted earlier. The redemption
 premium of 39.729% payable on maturity of the bond if there is no
 conversion of the bond to be debited to Securities Premium Account
 evenly over the period of 5 years from the date of issue of bonds.
 
 During the year, 30,000 FCC Bonds of USD 1,000 each aggregating to USD
 30 Million were redeemed on 11 January 2011 on maturity. As of 31 March
 2011, Nil FCC Bonds (2010 - 30,000) of USD 1,000 are outstanding.
 
 B) The Company had issued 20,000 Zero Coupon Foreign Currency
 Convertible Bonds of USD 1,000 each (Rs 873.20 at issue) on the
 following terms:
 
 (i) Convertible at the option of the bondholder at any time on or after
 28 March 2005 but prior to the close of business on 2 January 2010 at a
 fixed exchange rate of Rs 43.66 per 1 USD and price of Rs 215.60 (Post
 adjustment for bonus and split) per share of Rs 1 each.
 
 (ii) Redeemable in whole but not in part at the option of the Company
 on or after 15 February 2008 if closing price of the share for each of
 the 25 consecutive trading days immediately prior to the date upon
 which notice of such redemption is given was at least 130% of the
 applicable Early Redemption Amount divided by the Conversion Ratio.
 
 (iii) Redeemable on maturity date on 16 February 2010 at 133.74% of its
 principal amount if not redeemed or converted earlier. The redemption
 premium of 33.74% payable on maturity of the Bond if there is no
 conversion of the Bond to be debited to Securities Premium Account
 evenly over the period of 5 years from the date of issue of Bonds.
 
 During the year ended 31 March 2010, 1000 FCC Bonds of USD 1,000 each
 aggregating to USD 1 Million were redeemed on 16 February 2010 on
 maturity. As of 31 March 2011, Nil FCC Bonds (2010 - Nil) of USD 1,000
 each are outstanding.
 
 C) The Company had issued 50,000 Zero Coupon Foreign Currency
 Convertible Bonds of USD 1,000 each (Rs 2,183.00 at issue) on the
 following terms:
 
 (i) Convertible at the option of the bondholder at any time on or after
 15 November 2006 but prior to the close of business on 2 January 2010
 at a fixed exchange rate of Rs 43.66 per 1 USD and the price of Rs 253.11
 (post adjustment for split) per share of Rs 1 each.
 
 (ii) Redeemable in whole but not in part at the option of the Company
 on or after 15 February 2009 if closing price of the share for each of
 the 25 consecutive trading days immediately prior to the date upon
 which notice of such redemption is given was at least 130% of the
 applicable Early Redemption Amount divided by the Conversion Ratio.
 
 (iii) Redeemable on maturity date on 16 February 2010 at 134.07% of its
 principal amount if not redeemed or converted earlier. The Redemption
 Premium of 34.07% payable on maturity of the Bond if there is no
 conversion of the Bond to be debited to Securities Premium Account
 evenly over the period of 5 years from the date of issue of Bonds.
 
 During the year ended 31 March 2010, 5000 FCC Bonds of USD 1000 each
 aggregating to USD 5 Million were redeemed on 16 February 2010 on
 maturity. As of 31 March 2011, Nil FCC Bonds (2010 - Nil) of USD 1,000
 each are outstanding.
 
 10. Extracts of Assets and Liabilities as on 31 March 2011 and Income
 and Expenses for the year ended 31 March 2011 related to the interest
 of the Company (without elimination of the effect of transactions
 between the Company and Glenmark Pharmaceuticals (Thailand) Co. Ltd.,
 Thailand) have been extracted from the audited accounts:
 
 11.  PRIOR YEAR COMPARATIVES
 
 The financial statements of the Company for the immediately preceding
 year were audited and reported by another firm of Chartered
 Accountants.
 
 Prior years figures have been regrouped or reclassified wherever
 necessary to confirm to current years classification.