200909 - Quarter 3

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
				15

Complaints disposed off during the quarter
			15

Complaints unresolved at the
end of the quarter 		Nil

1. Other operating income mainly
includes export benefits and
income arising out of milestone payments and patent exclusivity
settlements and profit on sale of
assets.

2. The research and development expenditure is
classified under respective heads
according to the nature of expense. The aggregate amount of such
expenditure (excluding
depreciation) for all periods presented is set out
below:

Research & Development
expenses for the Quarter ended September 30, 2009 is Rs 1052.62
million.

3. Foreign exchange
loss/(gain) includes loss/(gain) on foreign currency option
derivatives (excluding derivatives
relating to loans) which are determined to be ineffective cash flow
hedges in accordance with
Accounting Standard 30, Financial Instruments : Recognition and
measurement. The amount of such
loss/ (gain) for all periods presented is set out
below:

Foreign exchange loss/(gain) on
option derivatives for the Quarter ended September 30, 2009 is Rs
(87.74) million

4. Foreign
exchange (gain) /loss on  loans represents exchange differences on
foreign currency borrowings
including Foreign Currency Convertible Bonds and mark to market
(gain)/loss on outstanding
derivatives relating to loans.

5. The Company received a sum
of Rs. 35,848.78 Million
consequent to the amount of equity shares and warrants on
preferential basis to Daichi Sankyo
Company Ltd, Japan on October 20, 2003. These proceeds have been
utilized in line with the objects
of the preferential issue towards repayment of borrowings Rs.
34600.03 Million and strategic
investment of Rs 1,248.73 Million.

6. On exercise of stock
options, 45,445 equity shares
have been allotted on October 12, 2009.

7. The total number of
Employee Stock Options
outstanding as at September 30, 2009 are 7,528,664 of which 4,045,739
have vested.

8. The
entitlement of shares on exercise of stock options granted on or
before October 3, 2002 would
increase in the proportion of 3:5 keeping in view issue of Bonus
shares on October 11,
2002.

9. With reference to qualification of the previous
statutory auditors as mentioned in
their report on the accounts of the Company for the year ended
December 31, 2008, Central
Government wide letter dated May 12, 2009, approved the waiver of
recovery of excess remuneration
paid to the working Directors of the Company. The Company has made an
application to the Central
Government for waiver of recovery of excess remuneration paid to Mr.
Malvinder Mohan Singh for the
period from December 19, 2008 to December 31, 2008.

10. The
shareholders of the Company on
September 22, 7000, approved through postal ballot following two
items:

a) Appointment and
remuneration of Mr. Malvinder Mohan Singh as Chairman, CEO &
Managing Director for the period
from December 19, 2008 to May 24, 2009 (the date he stepped down from
the said positions)&#59;
and

b) Appointment and remuneration of Mr. Atul Sobti as Chief
Executive Officer &
Managing Director of the Company for a period of three years
effective May 24, 2009.

11. The
Company´s business activity falls within a single primary
business segment viz.
"Pharmaceutical".

12. Figures for previous
periods have been regrouped and
recasted wherever necessary to make them comparable with the current
period.

13. The above
results were reviewed by the Audit Committee on October 25, 2009,
approved by the Board of
Directors in their meeting held on October 26, 2009 and have
undergone limited review by the
statutory auditors of the Company.

Arun Sobti
CEO &
Managing Director