THE ZANDU PHARMACEUTICAL WORKS LTD.
		Regd. Office : 70, Gokhale Road South, Dadar, Mumbai - 400 025.
		UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER
		ENDED  30th JUNE , 2005			(Figures in Lakhs)
			Quarter	Quarter	Financial year
			ended	ended	ended
			30th June, 2005	30th June, 2004	31st March, 2005
			(Unaudited)	(Unaudited)	(Audited)
		Net Sales	2237.70	2034.06	11342.19
		Other Income	59.23	46.59	318.59
		Total Income	2296.93	2080.65	11660.78
		Total Expenditure
		a) (Increase) /decrease in	57.08	(131.32)	53.97
		stock in trade.
		b) Consumption of materials.	606.57	707.08	3349.07
		c) Excise Duty	223.41	243.40	1293.13
		d) Staff Cost	282.14	269.66	1144.33
		e) Advertisement and Sales Promotion	274.40	181.75	1650.83
		f) Other expenditure	553.60	548.63	2530.17
		Interest	10.39	11.97	52.68
		Depreciation	76.84	73.59	301.71
		Profit before Tax	212.50	175.89	1284.89
		Provision for Taxation	56.00	53.00	411.65
		(Incl. Deferred Tax of Rs 9.46 lakhs)
		Profit after Tax	156.50	122.89	873.24
		Paid-up equity share capital	604.80	403.20	604.80
		(Face value Rs.100/-)
		Reserves excluding revaluation			4901.38
		reserves (as per balance sheet)
		Basic & Diluted EPS for the period	25.88	30.48	150.54
		(Rs)
		Note :
		1.  The above results were reviewed by the Audit Committee and were thereafter taken on record by the
		Board of Directors in their  Meeting held on  30th July, 2005
		2.  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)
		3.   The Shareholders have approved issue of bonus shares in the Annual General meeting held on
		17th September, 2004 in the ratio of 1:2 i e. 1 equity share for every 2 existing shares held by them.
		Consequently, the paid up Equity Share Capital has increased from 403.20 lakhs to 604.80 lakhs.
		The earning per share (EPS) is calculated on increased Share Capital. EPS for quarter ended
		30th June, 2004 after adjustment on account of issue of bonus shares would stand at Rs 20.32
		4.   Provision for Taxation of Rs 56 lakhs includes Rs 9.46 lakhs towards Deferred Tax  for the period
		1st April, 2005 to 30th June, 2005 in accordance with requirements of
		Accounting  Standard - 22 "Accounting for Taxes on Income".
		5.   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.
		6.   Previous period  figures have been regrouped wherever necessary.
			For The Zandu Pharmaceutical Works Ltd.
		Place  :  Mumbai		(Y. P. Trivedi)
		Date    :  30th July, 2005		Chairman