UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER
ENDED 30th JUNE, 2007				(Figures Rupees in Lakhs)
	STANDALONE			CONSOLIDATED
	Quarter ended	Quarter ended	Year ended	Quarter ended	Year ended
	30th June,2007	30th June,2006	31st March, 2007	30th June,2007	31st March, 2007
	(Unaudited)	(Unaudited)	(UnAudited)	(Unaudited)	(UnAudited)
Net Sales	2778.79	2466.68	14720.04	3720.46	16361.80
Other Income	39.06	54.32	400.87	40.82	409.43
Total Income	2817.85	2521.00	15120.91	3761.28	16771.23
Total Expenditure
a) (Increase) /decrease in stock in trade.	(56.81)	(123.62)	(98.44)	61.69	(174.39)
b) Consumption of materials.	956.37	814.20	4980.61	1427.50	6031.62
c) Staff Cost	291.93	303.36	1260.17	375.38	1409.31
d) Advertisement and Sales Promotion	223.35	212.77	1970.74	223.35	1970.74
e) Other expenditure	885.10	895.89	4533.98	1038.06	4836.39
Interest	10.35	11.17	37.50	29.85	55.02
Depreciation	65.28	76.06	310.13	81.56	339.79
Profit before Tax	442.27	331.17	2126.22	523.89	2302.75
Provision for Taxation
-- Current Tax	125.00	105.00	600.00	150.86	607.31
-- Deferred Tax	(2.09)	6.20	13.15	0.36	63.95
-- Fringe Benefit Tax	7.50	6.30	43.53	7.98	44.41
Profit after Tax	311.86	213.67	1469.54	364.70	1587.09
Paid-up equity share capital	806.40	604.80	806.40	806.40	806.40
(Face value Rs.100/-)
Reserves excluding revaluation reserves			6192.40
(as per balance sheet)
Basic & Diluted EPS for the period (Rs)	38.67	26.50	182.23	45.23	196.81
Notes :
1.The above results were reviewed by Audit committee and thereafter were taken on record by the Board of Directors in their meeting held
on 21st July,2007.
2.In view of the announcement of The Institute of Chartered Accountants of India,"Deferment of applicability of Accounting Standard (AS 15 ),
Employee benefits (revised 2005)," the said AS 15 has become mandatory to the Company with effect from 1st April, 2007.The liabilities in
terms of the said standard are presently being ascertained by the Company and necessary adjustments in accordance with said standard
will be made thereafter.However a provision has been made in accounts in accordance with the practice hitheto followed.
3.The Company is in pharmaceutical business and considering the organization 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).
4 .Earning per share for the previous periods has been adjusted for the issue of Bonus share in the ratio of 1:3 allotted on 23 rd January,2007
as per Accounting Standard 20(AS 20) on Earnings per share.
5.Consolidated Financial results include the financial results of the subsidiary Zandu Chemicals Ltd. (ZCL).ZCL has become the subsidiary of
the company with effect from 1st November,2006.The sales revenue of ZCLfor the entire financial year 2006-07 was Rs 4516.72 lacs.
6.The Company had investments aggregating to Rs 14.50 lakhs in the equity shares of Zandu Chemicals Limited, a company promoted by the ,
Company and had also given loans / advances to the said company aggregating to Rs 356.72 lakhs, which are outstanding as at 31st March, 2007.
The investee company's accumulated losses had exceeded its networth as at 31st March, 2006 and as informed the said company had as
required by law referred the matter to the Board for Industrial and Financial Reconstruction (BIFR) and the said company was hopeful of
positive outcome .Accordingly, on that basis no provision was considered necessary by the management towards the diminution in the value of
investments considered temporary and loans and advances considered good of recovery. This was a matter of qualification by the statutory
auditors for the year ended 31st March ,2006. Subsequently, on achieving positive networth, the BIFR has discharged the said company
from the purview of SICA,1985. Morever, the said company has become a subsidiary company w.e.f. 1st November,2006, consequent to the
company acquiring the majority of its shares (93.84%).The ZCL has achieved higher turnover during the financial year 2006-07and in current
quarter.ZCL has excellent orders on hand .
7.There were no complaints from investors outstanding at the beginning of the quarter. The Company has received three 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.
Place : Mumbai				(Girish Parikh)
Date : 21st July, 2007				Managing Director