1. The above results were reviewed by the Audit Committee and approved by the Board of Directors, in their respective meetings held on May 15, 2009. There is no qualification in the Auditors Report on this statement of financial results.

2. The Company operates a solitary business segment viz. Pharmaceuticals, comprising mainly manufacture of branded formulations. A further breakdown of pharmaceutical sales is given below: (Rs in lacs)

For the year Ended March 31, 2009:

Domestic Formulations: 62818
Exports:35470
Contract Manufacture: 16385
Others:154
Gross Sales: 114827
Excise duty: 382
Net Sales: 114445

3. The Company made additional investment of Rs. 73 Lacs during the current quarter in equity shares of Laboratories Torrent, S.A. De CV., its wholly owned subsidiary in Mexico.

4. Other expenditure includes net foreign exchange gain for current quarter Rs. 932 Lacs (comparative quarter loss Rs
142 Lacs) and loss for the year Rs. 1084 Lacs (previous year loss Rs 1107 Lacs) recognised as per Accounting
Standard (AS) 11-“Effect of Changes in Foreign Exchange Rate” on assets and liabilities held in foreign currency.
The Company has not exercised the option for capitalisation or amortisation of exchange differences on long term
foreign currency monetary items as provided by notification dated March 31, 2009, issued by the Ministry of Corporate
Affairs.

5. Exceptional item represents amount provided for settlement of a contract claim and certain related expenses, in respect of a research contract pertaining to new chemical entities, agreed by the Company in an out-of-court settlement through a mediation process.

6. Tax Expense for the comparative quarter includes Minimum Alternate Tax (MAT] credit entitlement of Rs. 1596 Lacs pertaining to the first three quarters of the previous year. Adjusted for this, the profit after tax of the comparative quarter Rs. 3082 Lacs would have been lower by Rs.1596 Lacs and the restated profits would be Rs. 1486 Lacs.

7. The Board of Directors have proposed equity dividend of Rs. 4.00 (previous year Rs. 3.50) per equity shares of Rs. 5 each. The aggregate amount of equity dividend proposed to be distributed is Rs. 3960 Lacs (previous year Rs. 3465 Lacs) including tax on distributed profits Rs. 575 Lacs (previous year Rs. 503 Lacs).

8. The Company has also prepared and published audited consolidated financial results for the quarter and year ended
March 31, 2009.

Sudhir Mehta
Chairman