1.  Previous year figures have been regrouped and reclassified
 according to the groupings and Classifications made for tire current
 financier year.
 
 2.  Contingent Liabilities are not provided for in respect of
 
                                                     (Rs. In lacs)
 
                                            2010-11          2009-10
 
 (i) Customs Duty Demands disputed by 
 the Company                                  64.42           64.42
 
 3.  Contracts remaining to be executed on Capital Account are Rs.63,
 26, 79,912.  (Previous year Rs. NIL).
 
 4.  GDR''s Issue:
 
 During the year the Company has issued 25 Lakhs Global Depository
 Receipts (GDR) at a price of US$.9.2 per GDR on 22nd February, 2011,
 where one GDR represents 10 equity shares of Rs.10 each of the Company.
 The Company has received in aggregate US.3 Crores equivalent to
 Rs.103.96 Crores which has been appropriated towards equity share
 capital of Rs.25 Crores and Rs.78.96 Crores as Securities premium. The
 expenses incurred in connection with the GDR issue of Rs.4,53,85,803/-
 has been appropriated against the Premium received.
 
 Usage of GDR proceeds:
 
 The Company intends to use net proceeds from the issue of GDR''s towards
 expansion of the present business activities of the Company; augmenting
 long term working capital and any other use as may be permitted under
 applicable law or regulations from time to time.
 
 Out of net proceeds, an amount of US$.1,40,00,129.58 equivalent to
 Rs.62,51,05,786/- has been utilized as advances for acquiring new drug
 technologies and getting clinical technology services from
 technology\strategic partners abroad and Rs.2,71,73,660/- for working
 capital requirement purposes in India and the remaining balance of
 US$.74,79,805.58 equivalent to Rs.33,39,73,718 is with non-scheduled
 bank in abroad for future requirements.
 
 The Company intends to use the GDR issue proceeds in the following
 manner...
 
 a.  Research and Development of various products of the Company viz,
 APIs, Vaccines,
 
 b.  To carry out the Pre-Clinical / Clinical Trials for several novel
 Biotech Products in the pipe line,
 
 c.  Setting up of new manufacturing facilities, expanding and
 modernizing existing manufacturing facilities in India,
 
 d.  For establishing manufacturing facilities outside India for the
 production of APIs and Bio-Tech Products, ...etc
 
 e.  Process innovation and Process optimization
 
 f.  Acquisition of Companies and Technologies domestic and overseas
 
 g.  Working Capital Requirements of the Company.
 
 5.  The Department of Biotechnology has sanctioned a loan amount of
 Rs.4.09 crores under Small Business Innovative Research Initiative
 (SBIRI) scheme for the novel technology up gradation of orilstat
 research, for which a charge against movable and Immovable assets
 acquired from utilization of the said loan amount has been created.
 
 6.  The following are the Related Party Disclosures as per the AS-18 as
 notified under the Companies Act 1956.
 
 A) KEY MANAGEMENT PERSONNEL:
 
 Dr. K. Koteswara Rao : Managing Director
 
 Mr.P.Narayana Murthy : Director
 
 7.  In the opinion of the Board, current assets, loans and advances are
 realizable at a value, which is at least equal to the amount, at which
 these are stated, in the ordinary course of business. Balances of
 sundry debtors, sundry creditors, loans and advances, and other parties
 are subject to independent confirmation from the respective parties.
 
 8.  Additional information pursuant to Part II of Schedule VI to the
 Companies Act, 1956 to the extent relevant.
 
 9.  Periodically the company evaluates all customers due to the
 company for collectables. The need for provisions is assessed based on
 the various factors including collectables of specific dues, risk
 perceptions of the industry in which the customers operate, and general
 economic factors, which could effect the customer''s ability to settle.
 
 10.  Schedules I to XVIII form integral part of the Balance Sheet and
 Profit & Loss Account and have been duly authenticated.