1. The above results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors held on June 26, 2009.

2. The Company is exclusively in the Pharmaceutical business segment.

3. During the quarter ended March 31, 2009, pursuant to Employee Stock Option Scheme 2003, the Company has granted 701,500 options. As at March 31, 2009, 3,602,960 options were outstanding, which upon exercise are convertible into equivalent number of equity shares.

4. Pursuant to the notification of the Companies (Accounting standard ) amendment rules 2006 on March 31, 2009, has relaxed the provisions of Accounting Standard (AS) 11 "The Effects of Changes in Foreign Exchange Rates" for treating the exchange gain / loss arising on restatement of long term foreign currency monetary items. The Company has opted to follow the changes as per the above notification for its foreign currency long term loans.

Accordingly previous year exchange gain of Rs 39.15 lakhs has been reduced from General Reserve and current year exchange loss of Rs 245.41 Lakhs on restatement of the foreign currency loan is added to the cost of assets and will be depreciated over the useful life of the assets.

Losses arising from the effect of change in foreign exchange rates on foreign currency loan/bond not relating to acquisition of depreciable capital assets amounting to Rs 11,955.92 Lakhs for FY 2008-09 and gain of Rs 9,059.23 Lakhs for the 2007-08, are transferred to Foreign Currency Monetary item Translation Difference Account. Rs 1,144.58 Lakhs has been amortised during the year.

Had the Company not adopted these changes, the current year´s depreciation would have been lower by Rs 10.61 Lakhs and the profit would be have been lower by Rs 10,811.32 Lakhs.

5 Diluted EPS includes provision for conversion of FCC Bonds and ESOPs.

6. Exceptional loss of Rs. 29.80 lakhs in the Standalone Result is on account of the transfer of the Generics business of the Company to its subsidiary Glenmark Generics Limited w.e.f. 1st April, 2008. The said transfer as a part of the re-organisation of the business was approved by the shareholders by way of Postal Ballot. Consequently with the transfer of Generics business, the related deferred tax liability of Rs. 7,575 lakhs is reversed in the current period. Due to transfer of Generic business, the figures for the previous period are not comparable with the current period.

7. In the Standalone result business transfer is treated as slump sale under Section 50B of The Income Tax Act, 1961 and the resultant tax on long term capital gain arising thereon has been adjusted against MAT credit entitlement.

8. Previous period´s figures have been re-grouped/ re-classified wherever necessary.

9. The Board has recommended Dividend @ 40 % (Re. 0.40 per share of Re. 1 face value )subject to the approval of Shareholders.

10. Exceptional item in the Consolidated Result represents Rs. 11,695.48 Lakhs towards one time additional sales allowances given to customers by Glenmark Generics Inc., USA during the year.

Glenn Saldanha
Managing Director & CEO