The above unaudited financial results were reviewed by the Audit Committee and have been approved by the Board at its meeting held on 31.07.2009. The quarterly stand alone results are subject to Limited Review by Auditors of the Company.

The Consolidated financial results, which are optional, have been presented by the Company, so as to provide additonal information.

The consolidated financial results have been prepared in accordance with AS - 21 on 'Consolidated Financial Statement', AS-27 'Financial Reporting of Interests in Joint Ventures' and includes financial results of all subsidiaries and Joint Ventures.

Investor complaints pending at the beginning of the quarter: Nil, received: 26, resolved: 26 and lying unresolved at the end of the quarter Nil.

Foreign Exchange (Gain)/Loss represents exchange differences arising on all foreign currency transactions. This includes Gain during the quarter due to restatement of Foreign Currency Convertible Bonds (net of Deposits) Rs.5302 lakhs (loss of Rs.5662 lakhs).

During the quarter, the Company has repurchased and cancelled Foreign Currency Convertible Bonds (FCCBs), in accordance with RBI Policy, aggregating to USD 1,800,000 at discount.

As per the "Scheme of Arrangement" (Scheme), utilization of the Capital Redemption Reserve Account and transfer of the Capital Reserve Account and the credit of the gain arising on buyback of FCCBs, being capital in nature, to an account to be referred to as "Reconstruction Reserve Account" are available towards adjusting the expenses as mentioned in the Scheme. Pending approval of the Scheme by the Hon'ble High Court of Andhra Pradesh and completion of other statutory formalities, no effect thereof has been given in the abovesaid results for the year ended March 31, 2009 and also for quarter ended June 30, 2009.

The Year ended 31.03.2009 unaudited results will be subject to adjustment during the course of annual audit. The impact, if any, on the result will be furnished in the audited results.

In respect of matters referred to in the limited review report by the Auditors for the quarter ended March 31, 2009 - (a) rela ting to non- provision of premium of Rs. 26994 lakhs on redemption of outstanding USD 194.60 Million Zero Coupon Foreign Currency Convertible Bonds (FCCBs), the management is of the opinion that the determination and crystallisation of liability is dependent upon the outcome of uncertain future events or actions, not wholly within the control of the Company and therefore the same has been considered as a "contingent liability" as at March 31, 2009. Further, the management continues to hold the same view as at June 30, 2009 on outstanding USD 192.80 Million FCCBs. (b) relating to non adjustment of Specified Expenses as determined by the Management, pending approval of the Scheme by the Hon'ble High Court of Andhra Pradesh, it is to state that such adjustments will be carried out as per the Scheme in FY0809 audited accounts on receipt of approval by the Hon'ble High Court. This has no impact on the results of the Company for the quarter.

During the quarter, step down subsidiary, Aurobindo Pharma GmbH has been incorporated and Aurobindo Pharma (pty) Ltd., South Africa, step down subsidiary, has made 50% investment in Joint Venture, Novagen Pharma (Pty) Ltd., South Africa.

Figures for the previous periods have been rearranged/regrouped/derived wherever necessary.