GRANULES INDIA LIMITED
	Regd Office : 2nd Floor, 3rd Block, My Home Hub
	Madhapur, Hyderabad 500 081
	UNAUDITED FINANCIAL RESULTS - CONSOLIDATED
	FOR THE QUARTER  ENDED 31st MARCH, 2009
					Rs. Lakhs
	S No	Particulars	3 months ended              31st Mar, 2009	Year to Date figures for current period ended               31st Mar, 2009	Previous accounting year ended                      30th June, 2008
			Unaudited	Unaudited	Audited
	1	Net sales / Income from Operations	9658.01	28747.73	25645.43
	2	Expenditure
		a) (Increase)/decrease in stocks
		and work in progress	753.66	194.08	(1485.63)
		b) Consumption of Raw Materials	5067.41	17512.80	16846.24
		c) Manufacturing Expenses	705.16	2046.54	2172.24
		d) Employee cost	709.96	1779.05	1736.45
		e) Administrative Expenses	389.66	1084.98	1050.47
		g) Selling & Distribution Expenses	571.09	1765.69	1679.32
		h) Depreciation	435.97	1166.77	1165.72
		i) Other expenditure	13.95	37.31	46.56
		Total	8646.87	25587.23	23211.37
	3	Other Income	(30.78)	(77.21)	(79.11)
	4	Profit before Interest and Exceptional Items	1041.93	3237.71	2513.17
	5	Interest and Finance charges	542.12	1584.79	1302.92
	6	Profit after Interest but before Exceptional Items	499.81	1652.93	1210.25
	7	Foreign Exchange Fluctuations (gain) / loss	191.93	940.76	(49.96)
	8	Profit before taxation	307.88	712.16	1260.23
	9	Tax expense
		Current Tax Expense	45.55	89.81	145.15
		Deferred Tax Expense	238.81	225.83	202.94
		Fringe Benefit Tax	3.26	9.69	11.70
	10	Net Profit/(Loss)	20.26	386.84	900.44
	11	Paid-up share capital	2005.72	2005.72	2005.72
		(Face Value of Rs.10/- each)
	12	Reserves excluding Revaluation Reserve	-	-	15,188.59
	13	Basic Earnings per share (Rs.)*	0.10	1.93	4.16
	14	Public Shareholding
		- No. of shares	12,620,942	12,620,942	13,547,423
		- Percentage of shareholding	62.92%	62.92%	67.54%
	15	Promoters and promoter group
		Shareholding
		a) Pledged/Encumbered
		Number of shares	1,522,650	1,522,650	-
		Percentage of shares to promoter group	22.19%	22.19%	-
		Percentage of shares to total capital	7.59%	7.59%	-
		b) Non-encumbered
		Number of shares	5,340,522	5,340,522	-
		Percentage of shares to promoter group	77.81%	77.81%	-
		Percentage of shares to total capital	26.62%	26.62%	-
	* Not Annualised for quarter ending
	NOTES :
	1) The above  results were reviewed by the Audit Committee and approved by the Board at its meeting held  on
	25th April, 2009.
	2) The financial statements are prepared in accordance with the principles and procedures required for the
	preparation and presentation of Consolidated Financial Statements as laid down in the Accounting
	Standards on Consolidated Financial Statements.  The financial statements of the parent company, subsidiaries
	and joint venture have been combined on a line-by-line basis by adding together book values of like items of assets,
	liabilities, income and expenses after eliminating intra-group balances and transactions and resulting unrealised
	gains / losses.  Exchange differences resulting from the difference due to transactions of foreign currency assets
	and liabilities in subsidiary company is disclosed as foreign currency translation adjustment.  The consolidated
	financial statements are prepared applying uniform accounting policies for like transactions and other events in
	similar circumstances in use at the parent and subsidiary company.
	3) The Company operates only in the segment of Pharmaceuticals.
	4) Comparative data for previous years corresponding quarter / half year are not given, since not available.
	5) Figures are regrouped wherever necessary.
				for and on behalf of the board
	Place  : Hyderabad			Dr.C.Nageswara Rao
	Date   :  25.04.2009			Chairman
	UNAUDITED FINANCIAL RESULTS  - STANDALONE
	FOR THE QUARTER  ENDED 31st MARCH, 2009
							Rs. Lakhs
	S No	Particulars	3 months ended              31st March, 2009	Corresponding 3 months ended in the previous year             31st March, 2008	Year to Date figures for current period ended             31st March, 2009	Year to Date figures for the previous period ended             31st March, 2008	Previous accounting year ended                      30th June, 2008
			Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1	Net sales / Income from Operations	8,686.16	4,946.72	25,392.20	15,243.95	21,414.65
	2	Expenditure
		a) (Increase)/decrease in stocks
		and work in progress	379.54	(472.35)	(148.09)	(592.31)	(869.25)
		b) Consumption of Raw Materials	4,894.65	3,336.79	15,887.20	9,403.65	13,347.33
		c) Manufacturing Expenses	606.74	436.42	1,665.64	1,304.00	1,756.77
		d) Employee cost	522.41	330.35	1,393.48	1,055.66	1,389.97
		e) Administrative Expenses	335.08	180.85	947.47	589.94	837.04
		f) Selling & Distribution Expenses	488.85	277.57	1,510.25	1,063.35	1,501.67
		g) Depreciation	369.37	249.56	973.44	717.59	972.09
		h) Other expenditure	13.95	9.62	37.31	16.41	46.56
		Total	7,610.60	4,348.81	22,266.70	13,558.29	18,982.18
	3	Other Income	(25.47)	(22.69)	(61.15)	(39.91)	(68.51)
	4	Profit before Interest and Exceptional Items	1,101.03	620.60	3,186.66	1,725.57	2,500.98
	5	Interest and Finance charges	508.36	300.32	1,478.34	860.98	1,197.22
	6	Profit after Interest but before exceptional items	592.68	320.28	1,708.32	864.59	1,303.76
	7	Foreign Exchange Fluctuations (gain)/loss	190.65	15.32	918.07	(32.15)	22.63
	8	Profit before taxation	402.02	304.96	790.25	896.74	1,281.13
	9	Tax expense
		Current Tax Expense	45.55	29.54	89.53	87.69	145.15
		Deferred Tax Expense	238.81	70.70	225.83	168.45	210.84
		Fringe Benefit Tax	3.26	3.04	9.69	8.44	11.70
	10	Net Profit/(Loss)	114.41	201.68	465.19	632.16	913.45
	11	Paid-up share capital	2,005.72	2,005.72	2,005.72	2,005.72	2,005.72
		(Face Value of Rs.10/- each)
	12	Reserves excluding Revaluation Reserve	-	-	-	-	15,894.21
	13	Basic Earnings per share (Rs.)*	0.57	1.01	2.32	3.15	4.56
	14	Diluted Earnings per share (Rs.)*	-	0.93	-	2.92	4.22
	15	Public Shareholding
		- No. of shares	12,620,942	13,547,423	12,620,942	13,547,423	13,547,423
		- Percentage of shareholding	62.92%	67.54%	62.92%	67.54%	67.54%
	16	Promoters and promoter group
		Shareholding
		a) Pledged/Encumbered
		Number of shares	1,522,650	-	1,522,650	-	-
		Percentage of shares to promoter group	22.19%	-	22.19%	-	-
		Percentage of shares to total capital	7.59%	-	7.59%	-	-
		b) Non-encumbered
		Number of shares	5,340,522	-	5,340,522	-	-
		Percentage of shares to promoter group	77.81%	-	77.81%	-	-
		Percentage of shares to total capital	26.62%	-	26.62%	-	-
	* Not Annualised for quarter ending
	NOTES :
	1) The above  results were reviewed by the Audit Committee and approved by the Board at its meeting held  on
	25th April , 2009 and were subjected to limited review by Statutory Auditors.
	2) Foreign Exchange Fluctuations (loss) of Rs.190.65 lakhs (net) for the quarter includes re-statement of foreign currency
	loans, receivables and payables.    As per the amendment dated 31-3-2009 to Companies (Accounting Standards) Rules
	2006,  the enterprise is given the option either to continue with the provisions of Accounting Standard 11 - The Effects
	of Changes in Foreign Exchange Rates or capitalise exchange differences (gain/(loss)) arising on reporting of
	long term foreign currency monetary items so far as they relate to the acquisition of a depreciable capital
	asset.    The Company has opted to continue with the existing practice of charging of exchange differences
	on long term foreign currency monetary items.
	3) The company has received 30 complaints from investors during the quarter 1st January '09 to 31st March '09 and all
	were resolved. No complaints were pending from previous quarter.
	4) The Company operates only in the segment of Pharmaceuticals.
	5) Figures are regrouped wherever necessary.
					for and on behalf of the Board
	Place  : Hyderabad					Dr.C.Nageswara Rao
	Date   :  25.04.2009					Chairman