The above results were subjected to a limited review by the Auditors, reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 29th July 2009.

The activities of the Company relate to only one business segment i.e. Pharmaceuticals.

Tax expense includes Current tax Rs.378 lakhs (Quarter ended 30th June 2008 Rs.489 lakhs), Deferred Tax Rs.298 lakhs (Quarter ended 30th June 2008 Rs.648 lakhs), Fringe benefit tax Rs.352 lakhs (Quarter ended 30th June 2008 Rs.27 lakhs) and is net of MAT credit available of Rs.Nil (Quarter ended 30th June 2008 Rs.56 lakhs).

As part of the process for delisting of the Equity shares of the Company, the employee stock option plans ("ESOP Plans") have been modified, to provide for immediate vesting of outstanding stock options and revision of exercise price. Consequent to the modifications to the ESOP Plans, a total charge of Rs. 1,131 lakhs has been recorded in the current quarter ended June 09, of which Rs. 802 lakhs is included in Employee cost and Rs. 329 lakhs being Fringe Benefit Tax thereon included in Tax Expense.

MP Laboratories (Mauritius) Limited (MP Laboratories), a wholly owned subsidiary of Mylan Inc., and one of the Promoters of the Company had initiated voluntary delisting of the shares of the Company from the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE) (together “Stock Exchanges”) in accordance with the Securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003 (‘the Delisting Offer’). Accordingly, the Company, on 26th June, 2009, made requisite applications to the stock exchanges for delisting of the Equity shares of the Company. Approval from the stock exchanges is awaited.

Matrix Laboratories Limited ("Matrix") had entered into agreements in October 2008 for the termination of the joint venture agreements with Aspen Pharmacare Holdings Limited (“Aspen”). The Astrix Laboratories Limited ("Astrix") and Fine Chemicals Corporation (Pty) Limited ("FCC") joint ventures were held 50:50 by Aspen and Matrix along with their respective subsidiaries. Under the terms of the termination agreements, 50% Matrix's stake in FCC has been bought by Aspen. 50% Aspen's stake in Astrix has been assigned by Matrix to its parent company to the extent of 49% and the balance 1% to a fellow subsidiary. The transaction has been closed with effect from May 31, 2009.

The figures for the previous year / period have been rearranged/regrouped wherever necessary to conform to current period's presentation.

"Summary of Investor Complaints :
Opening : nil Received during the quarter : 2 Resolved : 2 Closing : nil"

The Board of Directors of the Company on 21st June 2009 allotted 17,25,170 Equity Shares of Rs.2/- each to Matrix ESOP Trust.