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
				08

Complaints disposed off during the quarter
			08

Complaints unresolved at the
end of the quarter 		Nil

1. The above results were reviewed by
the Audit Committee and
approved at the meeting of the Board of Directors held on October 29,
2009.

2. The Statutory
Auditors have carried out a limited review of the Stand alone result
for the quarter and half year
ended September 30, 2009. 

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

4. During the quarter ended September 30, 2009,
pursuant to Employee Stock Option
Scheme 2003, the Company granted 141,500 options and converted
282,560 options into equity shares
of Re. 1 each. As at September 30, 2009, 3,172,100 options were
outstanding, which upon exercise
are convertible into equivalent number of equity shares.

5. In
the Standalone result, As per
the transitional provision given in the notification issued by
Ministry of Corporate Affairs dated
March 31, 2009 the Company has opted for the option of adjusting the
exchange difference on long
term foreign currency monetary items.

i) To the cost of the
assets acquired out of this
foreign currency monetary item. During the quarter, company has
capitalised exchange difference
amounting to Rs. 3.30 lakhs on restatement of long term loans used
for acquiring the fixed assets.


ii) To the Foreign Currency Monetary- Item Translation
Difference account. During the
quarter, company has transferred exchange loss of Rs. 72.77 lakhs on
restatement of long term
loans. Accordingly, proportionate amount of Rs. 172.75 lakhs is
amortised for the quarter ended
September 30, 2009. Due to the above, profit for the quarter is lower
by Rs. 96.68 lakhs.

6.
In Standalone result, other expenditure includes Foreign currency
exchange loss of Rs. 4,952.81
lakhs for the half year ended September 30, 2009 (Previous period
exchange gain of Rs. 2,206.77
lakhs).

7. The Company has allotted 18,712,935 equity shares
of Re 1 each at a premium of
Rs. 220/- per share on September 18, 2009 to QIBs pursuant to chapter
VIII of the Securities
Exchange Board of India (Issue of Capital and Disclosure Requirement
) Regulation 2009. The net
funds from the QIP proceeds have since been utilised in full for
repayment/ prepayment of debts, in
accordance with the terms of the issue.

8. In the Standalone
result, for the half year ended
September 30, 2009, Net sales includes export sales Rs. 11,125.92
lakhs (Previous period Rs.
12,416.32 lakhs). 

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

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

Glenn Saldanha
Managing Director & CEO