THE ZANDU PHARMACEUTICAL WORKS LTD.
		Regd. Office : 70, Gokhale Road South, Dadar, Mumbai - 400 025.
		AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED  31st MARCH, 2008
							(Figures Rs. in Lacs except EPS)
			STANDALONE				CONSOLIDATED
			Quarter ended	Quarter ended	Year ended	Year ended	Quarter ended	Year ended	Year ended
			31st March, 2008	31st March, 2007	31st March, 2008	31st March, 2007	31st March, 2008	31st March, 2008	31st March, 2007
			(Unaudited)	(Unaudited)	(Audited)	(Audited)	(Unaudited)	(Audited)	(Audited)
		Sales	3208.43	2995.37	15474.55	14725.52	3590.79	18710.71	16413.83
		Less: Excise Duty	328.33	377.41	1776.96	1662.03	339.65	1835.69	1708.58
		Net Sales	2880.10	2617.96	13697.59	13063.49	3251.14	16875.02	14705.25
		Other Income	123.74	143.38	417.14	463.24	128.40	421.03	472.66
		Total Income	3003.84	2761.34	14114.73	13526.73	3379.54	17296.05	15177.91
		Total Expenditure
		a) (Increase) /decrease in stock in trade.
		and work in progress	393.24	94.16	196.10	(48.05)	364.33	363.46	(103.46)
		b) Consumption of materials.	806.62	965.57	5263.49	4951.16	868.12	7125.80	5934.71
		c) Purchase of traded goods	43.17	36.63	127.83	140.58	43.18	127.83	141.80
		d) Employees Cost	417.75	287.22	1383.73	1303.97	493.47	1709.95	1435.44
		e) Advertisement and Sales Promotion	341.25	439.41	1794.76	2084.64	341.25	1794.76	2092.12
		f) Depreciation and Amortisation	64.85	78.43	261.72	310.38	87.04	339.29	340.67
		g) Other expenditure	642.60	697.84	2616.48	2676.74	884.98	3290.30	3070.69
		Total	2709.48	2599.26	11644.11	11419.42	3082.37	14751.39	12911.97
		Interest	9.71	5.31	39.85	39.75	17.23	101.32	48.66
		Profit before Tax	284.65	156.77	2430.77	2067.56	279.94	2443.34	2217.28
		Tax Expenses ( including Fringe Benefit Tax)	170.66	44.38	789.95	607.92	173.58	793.43	659.68
		Net Profit for the period	113.99	112.39	1640.82	1459.64	106.36	1649.91	1557.60
		Paid-up equity share capital	806.40	806.40	806.40	806.40	806.40	806.40	806.40
		(Face value Rs.100/-)
		Reserves excluding revaluation reserves as			7194.05	6040.98		7493.22	6341.20
		per balance sheet of previous accouting  year
		Basic & Diluted EPS for the period (Rs)	14.14	13.94	203.47	181.01	13.19	204.40	201.63
		Public Shareholding
		(a) Number of Shares			467782	468003
		(b) Percentage of Shareholding			58.01%	58.04%
		Notes on Standalone Results :-
		1. The above results, reviewed and recommended by Audit committee,were taken on record by the Board of Directors of the Company at its' meeting held on 10th June, 2008.
		2. The Board of Directors has, at its meeting held on June 10, 2008 recommended a dividend of Rs.25/- per equity share of the face value of Rs. 100/- each. The Interim Dividend
		of Rs. 50/- per share was paid during the year.
		3 . Information on segments has been disclosed on a consolidated basis in accordance with Accounting Standard 17 "Segment Reporting".
		4. Pursuant to the adoption of Accounting Standard (AS 15) (Revised 2005) 'Employee Benefits'  the Company has adjusted the additional liability of Rs. 16.03 lacs (net of deferred
		tax of Rs. 8.26 lakhs) upto 31st March, 2007, against the opening balance of General Reserve and the liability in this respect  for the year ended 31st  March, 2008 has been
		computed and charged to the Profit and Loss Account in accordance with the said Accounting Standard. Had the employee benefits cost been determined in the manner consistent
		with earlier Accounting Standard (AS 15 ) "Accounting for Retirement Benefits", the profit before tax of the Company would have been lower by Rs.10.09 lakhs.
		5. The Company has investments of Rs.27.41 lakhs and loans/advances as at 31st March 2008 aggregating to Rs. 667.46 lakhs  in Zandu Chemicals Ltd., a subsidiary company.
		Though the subsidiary company has a positive networth, during the year there is a reduction in its turnover/profitability, however considering its expansion plans and the
		consequential business growth and the invetsment being strategic and long term, the dues are considered good of recovery.
		6. There were no complaints from investors outstanding at the beginning of the quarter.The Company has not received any complaints from the investors during the quarter.
		7. Previous year/period  figures have been regrouped wherever necessary to conform to the current year/period.
		Notes on Consolidated Results :-
		1. Consolidated Financial Results include the Financial Results of the subsidiary Zandu Chemicals Ltd. (ZCL). ZCL has become the subsidiary
		of the Company w.e.f. 1st November,2006. Accordingly, current year figures are not strictly comparable with those of the previous year.
		2. Segment-wise Revenue, Result and capital Employed on consolidated basis:
			Rs.  In Lacs
		Particulars	Audited	Audited
			Year ended	Year ended
			31st March, 2008	31st March, 2007
		1. Segment Revenue
		a) Pharmaceutical	13931.15	13303.75
		b) Chemicals	3194.84	1705.90
		Total  Revenue	17125.99	15009.65
		2. Segment Results before Interest  and Tax
		a) Pharmaceutical	2519.53	2150.16
		b) Chemicals	63.52	192.84
		Less : Other Unallocable expenditure net	139.71	125.72
		of unallocable Income
		Profit before Tax	2443.34	2217.28
		3. Capital Employed
		(Segment Assets less Segment Liabilities)
		a) Pharmaceutical	6172.52	5150.52
		b) Chemicals	198.25	138.21
		c) Unallocated  Assets	1693.01	1858.87
		Total	8063.78	7147.60		For The Zandu Pharmaceutical Works Ltd.
		Place  :  Mumbai				(Girish  Parikh)
		Date   :  10th June, 2008				Managing Director