THE ZANDU PHARMACEUTICAL WORKS LTD.
Regd. Office : 70, Gokhale Road South, Dadar, Mumbai - 400 025.
UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER
ENDED 30 TH JUNE, 2004					(Rupees in Lakhs)
			Quarter	Quarter	Financial year
			ended	ended	ended
			30th June, 2004	30th June, 2003	31st March, 2004
			(Unaudited)	(Unaudited)	(Audited)
				(Reviewed)
Net Sales			2034.06	2410.15	12345.10
Other Income			46.59	49.53	417.66
Total Income			2080.65	2459.68	12762.76
Total Expenditure
a) (Increase) /decrease in			(131.32)	129.53	(91.83)
stock in trade.
b) Consumption of materials.			707.08	593.78	3644.36
c) Excise Duty			243.40	231.57	1450.54
d) Staff Cost			269.66	288.29	1185.55
e) Advertisement and Sales Promotion			181.75	366.32	1977.66
f) Other expenditure			548.63	488.70	2757.35
Interest			11.97	17.46	72.02
Depreciation			73.59	76.00	315.90
Profit before Tax			175.89	268.03	1451.21
Provision for Taxation			53.00	70.00	453.41
(Including Deferred Tax of Rs 3.02 lakhs)
Profit after Tax			122.89	198.03	997.80
Paid-up equity share capital			403.20	403.20	403.20
(Face value Rs.100/-)
Reserves excluding revaluation reserves
(as per balance sheet )					4537.33
Earnings per share (Basic and diluted)			30.48	49.11	252.11
for the period (Rs)
Note :
1.The above results were taken on record by the Board of Directors in their Meeting held on 4th August, 2004
2. Board of Directors has recommended subject to shareholders approval an issue of bonus shares in the ratio
of 1:2 i.e. 1 additional equity shares for every 2 existing equity shares held by the members.
3. The Board of Directors has proposed the final dividend @10% for the financial year 2003- 04, subject to
shareholders approval. The company has already paid two interim dividend totalling to 40%, with this total
dividend (Interim & Final) works out to 50%, as against 40% of previous year.
4.The Company is in pharmaceutical business and considering the organisation structure of the company
and its internal financial reporting,the company has only one reportable segment as per Accounting Standard
on Segment Reporting (AS - 17).
5. Provision for Taxation of Rs 53 lakhs includes Rs 3.02 lakhs towards Deferred Tax for the period 1st April 2004
to 30 th June, 2004 in accordance with requirements of Accounting Standard - 22 "Accounting for Taxes on Income".
6. In view of seasonality of products financial performance are not indicative of full year's results
7.There were no complaints from investors outstanding at the beginning of the quarter. The Company has received 3
complaints from the investors during the quarter and all the complaints were disposed off during the quarter. There
were no complaints lying unresolved at the end of the quarter.
8. Previous period figures have been regrouped wherever necessary.
				For The Zandu Pharmaceutical Works Ltd.
					Sd/-
Place : Mumbai				(Y. P. Trivedi)
Date : 4th August, 2004				Chairman