UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER
ENDED 31st MARCH, 2007			(Figures Rupees .in Lakhs)
	Period ended	Quarter ended	Quarter ended	Year ended	Year ended
	31st December, 2006	31st March, 2007	31st March, 2006	31st March, 2007	31st March, 2006
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Net Sales	11724.67	2995.37	2932.90	14720.04	12966.27
Other Income	257.49	143.38	196.69	400.87	421.26
Total Income	11982.16	3138.75	3129.59	15120.91	13387.53
Total Expenditure
a) (Increase) /decrease in stock in trade.	(192.60)	94.16	(42.42)	(98.44)	172.77
b) Consumption of materials.	4015.04	965.57	904.62	4980.61	3804.29
c) Staff Cost	972.95	287.22	281.07	1260.17	1189.81
d) Advertisement and Sales Promotion	1531.33	439.41	350.31	1970.74	1884.93
e) Other expenditure	3422.10	1111.88	1082.46	4533.98	4191.08
Interest	32.19	5.31	9.10	37.50	40.75
Depreciation	231.70	78.43	94.10	310.13	347.36
Profit before Tax	1969.45	156.77	450.35	2126.22	1756.54
Provision for Taxation
-- Current Tax	580.00	20.00	55.95	600.00	470.00
-- Deferred Tax	(0.81)	13.96	32.85	13.15	43.80
-- Fringe Benefit Tax	33.11	10.42	6.83	43.53	30.09
Profit after Tax	1357.15	112.39	354.72	1469.54	1212.65
Paid-up equity share capital	604.80	806.40	604.80	806.40	604.80
(Face value Rs.100/-)
Reserves excluding revaluation reserves				6192.40	5614.08
(as per balance sheet)
Basic & Diluted EPS for the period (Rs)	168.30	13.94	43.99	182.23	150.38
Aggregate of Public Shareholding
(a) Number of Shares	351849			468003	327512
(b) Percentage of Shareholding	58.18%			58.04%	54.15%
Note :
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 April,2007.
2.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).
3.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 said Compaany has achieved higher turnover during the year and has excellent orders on hand
and on that basis expect to further achieve improved profitability.
4.There were no complaints from investors outstanding at the beginning of the quarter. The Company has received two 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.
5.The Board of Directors in their meeting held on 10 th Marchr,2007 had recommended and paid an interim dividend of Rs.75/-per equity share.
on face value of Rs.100/-each aggregating to Rs. 604.80 Lakhs including dividend distribution tax of Rs. 84.82 Lakhs
6.Earning per share for the previous periods has been adjusted for the issue of Bonus share in the ratio of 1:3 .
7.Previous period figures have been regrouped wherever necessary.
		For The Zandu Pharmaceutical Works Ltd.
Place : Mumbai			(Girish Parikh)
Date : 21 st April, 2007			Managing Director