R A N B A X Y LABORATORIES LIMITED Standalone Unaudited  Financial Results (Provisional) for three months ended June 30, 2009     Rs Millions     Three months ended Six months ended Year ended 31/12/2008 Audited   Particulars 30/06/2009   30/06/2008   30/06/2009   30/06/2008             Sales             -  Domestic 4,695.99 3,891.95   8,347.15 7,379.69 15,453.06   -  Exports 5,403.19 8,360.76   9,809.79 14,840.20 27,940.57   Sales 10,099.18 12,252.71   18,156.94 22,219.89 43,393.63   Less : Excise duty 34.45 83.50   70.00 177.82 310.01   Net Sales 10,064.73 12,169.21   18,086.94 22,042.07 43,083.62   Other Operating Income 873.05 636.80   1,072.13 906.55 1,637.85   Total Expenditure 9,687.17 9,407.42   18,561.88 17,257.06 42,218.11   (Increase)/Decrease in stock in trade and work in progress (246.73) (938.18)   (1,253.72) (536.91) (1,155.89)   Consumption of Materials 4,152.22 4,986.64   7,783.41 8,164.68 15,736.83   Purchase of Traded Goods 1,163.77 974.03   2,087.95 1,753.37 4,211.64   Employee Cost 1,794.56 1,240.88   3,251.96 2,450.37 4,730.25   Foreign Exchange (Gain)/ Loss (405.07) (354.16)   154.93 (903.16) 2,562.32   Depreciation & Amortisation 315.37 292.29   605.47 613.78 1,544.69   Other Expenses  2,913.05 3,205.92   5,931.88 5,714.93 14,588.27   Balance 1,250.61 3,398.59   597.19 5,691.56 2,503.36   R & D Expenditure 972.30 1,059.84   2,019.10 1,966.34 4,155.46   Profit/(Loss) from Operations before Other Income, Interest & Exceptional Items 278.31 2,338.75   (1,421.91) 3,725.22 (1,652.10)   Interest & Other Income 278.11 83.85   691.65 141.90 2,096.23   Profit/(Loss) before Interest & Exceptional Items 556.42 2,422.60   (730.26) 3,867.12 444.13   Interest 133.06 316.84   266.36 579.30 1,458.28   Foreign exchange (Gain)/ Loss on loans (1,907.92) 1,913.92   (665.41) 2,677.12 7,474.52   Profit/ (Loss) after Interest but before Exceptional Items 2,331.28 191.84   (331.21) 610.70 (8,488.67)   Exceptional Items           Gain/(Loss) on fair valuation of derivatives 8,066.87   (1,121.13) (7,702.14)   Profit on sale of Land and Building       895.16     Profit/(Loss) from Ordinary Activities before  Tax 10,398.15 191.84   (1,452.34) 1,505.86 (16,190.81)   Tax expense 3,643.65 (45.44)   (429.06) 234.36 (5,742.79)   Net Profit/ (Loss) from Ordinary Activities after Tax 6,754.50 237.28   (1,023.28) 1,271.50 (10,448.02)   Paid - up Equity Share Capital  (Face value of Rs. 5 each) 2,101.85 1,866.19   2,101.85 1,866.19 2,101.85               Reserves excluding revaluation reserves                     33,309.22   Earnings Per Share (Rs.)                 Before exceptional items           Basic 3.40 0.64   (0.67) 1.56 (27.29)   Diluted 0.57 0.63   (1.30) 1.56 (27.29)   After exceptional items           Basic 16.07 0.64   (2.43) 3.41 (27.29)   Diluted 12.47 0.63   (2.96) 3.40 (27.29)   Public shareholding #            -  Number of shares 145,528,684 234,473,167   145,528,684 234,473,167 144,431,309   -  Percentage of shareholding 34.62% 62.82%   34.62% 62.82% 34.36%           Promoters and Promoter Group Share holding       a) Pledged / Encumbered       - Number of Shares NIL *   NIL * NIL   - Percentage of shares (as a % of the total shareholding of   promoter and promoter group) - *   - * -   - Percentage of shares (as a % of the total share capital of   the company) - *   - * -   b) Non - Encumbered       - Number of Shares 268,711,323 *   268,711,323 * 268,711,323   - Percentage of shares (as a % of the total shareholding of   promoter and promoter group) 100% *   100% * 100%   - Percentage of shares (as a % of the total share capital of   the company) 63.92% *   63.92% * 63.92%   # Aggregate Public shareholding as defined under Clause 40A of the Listing Agreement (excludes shares held by Promoters and GDRs)   * Daiichi Sankyo Company Limited became promoters of the Company effective November 7, 2008,     Notes:     1 Other Operating income mainly includes export benefits and income arising out of Patent settlement with Teva. 2 Employee cost related to R&D is included under the head " R&D Expenditure". 3 Foreign exchange Loss/(Gain) on loans represents exchange differences arising during the period on foreign currency borrowings   including Foreign Currency Convertible Bonds.  4 For the quarter, foreign exchange gain arising on account of change in fair value of foreign currency options determined to be    ineffective cash flow hedge, as per AS 30 amounted to Rs.8,066.87 Million before tax and has been recognised under 'Exceptional items'.   Net of tax the gain is Rs 5,324.94 Million. 5 The Company received a sum of Rs. 35,848.78 Million consequent to the allotment of equity shares and warrants on preferential basis   to Daiichi Sankyo Company, Limited, Japan on October 20, 2008. These proceeds have been utilized in line with the objects of the    preferential issue, towards repayment of borrowings Rs. 32,966.05 Million ; Strategic investment of Rs 1,248.73 Million and  remaining    amount of Rs. 1,634 Million has been kept as fixed deposits, as on June 30, 2009. 6 On exercise of stock options, 2,160 equity shares have been allotted on July 13, 2009. 7 The total number of Employee Stock Options outstanding as at  June 30, 2009 are 7,854,504 of which 4,195,444 have vested. 8 The entitlement of shares on exercise of stock options granted on or before October 3,2002 would increase in the proportion of 3:5,   keeping in view issue of Bonus shares on October 11,2002. 9 Status of investor complaints: a) Pending as on March 31,2009-Nil; b) Received during the quarter-8; c) Disposed off during the quarter-8; d) Pending as on June 30, 2009- Nil. 10 On February 25, 2009, the Company received a letter from US Food and Drug Administration ("FDA") indicating that the Agency   had invoked "Application Integrity Policy" (AIP) against its Paonta Sahib facility.  The Company has submitted    Corrective Operation Action Plan (COPA) to FDA for which the response is awaited from FDA. 11 With reference to qualification of the Auditors as mentioned in their report on the accounts of the Company for the year ended   December 31, 2008, Central Government vide letter dated May 12, 2009, approved the waiver of recovery of excess remuneration paid   to the Working Directors of the Company.  Requisite approvals for appointment for the period from December 19, 2008 to May 24,   2009 of Mr. Malvinder Mohan Singh as Chairman, CEO & Managing Director and of remuneration paid to him for the said period is   being sought. 12 Effective May 24, 2009, Mr. Malvinder Mohan Singh stepped down as Chairman, CEO & Managing Director and Mr. Sunil    Godhwani, Mr.Balinder Singh Dhillon and Mr. Atul Sobti resigned from the Directorship of the Company. In the Board meeting held on    May 24, 2009, Dr. Tsutomu Une, Non-Executive Director was  elected as the Chairman of the Board of Directors and Mr. Atul Sobti    was appointed as Director and CEO & Managing Director of the Company for a period of three years, for which the    consent of the shareholders is being sought through postal ballot. 13 The Company operates solely in the Pharmaceutical business and hence has only one reportable segment. 14 Figures for previous periods have been regrouped and recast wherever necessary to make these comparable with those for the current   period. 15 The above results were reviewed by the audit committee and approved by the Board of Directors at their meeting held on July 24, 2009.         By order of the Board   Place : Gurgaon Atul Sobti Date : July 24, 2009 CEO & Managing Director             Regd. Office : A-11, Industial Area, Sahibzada Ajit Singh Nagar (Mohali) - 160 055 (Punjab)