200909 - Quarter 2

Status of Investor Complaints for the quarter ended September 30,
2009

Complaints Pending at
the beginning of the quarter		Nil

Complaints Received during
the quarter
				103

Complaints disposed off during the quarter
			103

Complaints unresolved at
the end of the quarter 		Nil

1. The above results have been
reviewed by the Audit Committee
on October 21, 2009 and approved by the Board of Directors of the
Company at their meeting held on
October 22, 2009. The financial results of the Company and the
consolidated financial results for
the quarter ended September 30, 2009 have been subjected to a limited
review by the statutory
auditors of the Company.

2. The financial statements for
AxiCorp GmbH, Germany
(´Axicorp´) a subsidiary company, are drawn upto
June 30, 2009 for the purposes
of consolidation. Accordingly, the consolidated results of Biocon for
the quarter ended September
30, 2009 include the results of AxiCorp for the period from April 01,
2009 to June 30, 2009. The
financial statements of other subsidiaries, joint venture company and
associate have been drawn up
to the same reporting date as that of the Company, i.e. September 30,
2009. In accordance with
Accounting Standard 21, adjustments having been made for significant
transactions during the period
from July 01, 2009 to September 30, 2009.

3. Exceptional
items:

a. Exceptional items
for the quarter and half year ended September 30, 2009 is Rs NIL
Exceptional items for the quarter
and half year ended September 30, 2008 and year ended March 31, 2009
include mark to market loss in
respect of foreign exchange forward contracts including realized
gains / losses incurred on
termination / cancellation of the said contracts of Rs 1,380 (net of
taxes of Rs 110), Rs. 3,153
(net of taxes of Rs. 270) and Rs 9,401  (net of taxes of Rs 773) in
the case of the Company and Rs
2,545 (net of tax of Rs 110), Rs. 5,996 (net of taxes of Rs. 270) and
Rs 14,919 (net of taxes of Rs
773) in respect of the consolidated financial results,
respectively.

b. Exceptional items for
the year ended March 31, 2009 also include write back of unutilised
provision for contingencies of
Rs 200 relating to transfer of its enzymes business created in the
prior year.

4. For the
quarter and half year ended September 30, 2009 and year ended March
31, 2009, minority interest
comprise profits of Rs 166, Rs 297 and Rs 299 attributable to
minority shareholders of AxiCorp, net
of losses recognized amounting to Rs. Nil, Rs Nil and Rs 414
pertaining to the losses of the joint
venture partner in Biocon Biopharmaceuticals Pvt Ltd,
respectively.

5. The Company on
September 30, 2009, entered into a definitive agreement to purchase
the active pharmaceutical
ingredient business of  IDL Speciality Chemicals Ltd. The Company is
yet to "consummate
the transaction pending completion of conditions precedent and
accordingly the same has not been
recorded as at September 30, 2009.

6. The Company operates in
a single business segment of
Pharmaceuticals.

7. During the quarter ended September 30,
2009, the Company paid dividend
of Rs. 3/- per share amounting to Rs. 60 Crores for the year 2008-09
representing 60%
dividend.

8. In respect of the consolidated financial results,
the primary segment reporting
has been performed on the basis of business segments. Segments have
been identified and reported
based on the nature of the products, risks and returns,
organizational structure and internal
financial reporting systems.

9. The prior period/year figures
have been reclassified
wherever required to conform to the classification of the current
quarter.

Kiran Mazumdar
Shaw
Managing Director