GRANULES INDIA LIMITED
	Regd Office : 2nd Floor, 3rd Block, My Home Hub
	Madhapur, Hyderabad 500 081
	UNAUDITED FINANCIAL RESULTS
	FOR THE QUARTER  ENDED 30th SEPTEMBER, 2008
					Rs. Lakhs
	S No	Particulars	3 months ended              30th Sept, 2008	Corresponding 3 months ended in the previous year             30th Sept, 2007	Previous accounting year ended                      30th June, 2008
			Unaudited	Unaudited	Audited
	1	Net sales / Income from Operations	8,144.60	5,003.06	21,414.65
	2	Expenditure
		a) (Increase)/decrease in stocks & work in progress	(517.09)	(54.11)	(869.25)
		b) Consumption of Raw Materials	5,756.33	2,932.56	13,347.33
		c) Manufacturing Expenses	510.21	398.86	1,756.77
		d) Employee cost	403.25	353.15	1,389.97
		e) Administrative Expenses	259.33	188.75	837.04
		f) Foreign Exchange Fluctuations	245.72	42.83	22.63
		g) Selling & Distribution Expenses	491.29	369.43	1,501.67
		h) Depreciation	259.84	232.47	972.09
		i) Other expenditure	9.40	3.41	46.56
		Total	7,418.28	4,467.36	19,004.82
	3	Other Income	(19.09)	(8.17)	(68.51)
	4	Interest and Bank charges	391.07	268.49	1,197.22
	5	Profit before taxation	354.34	275.38	1,281.12
	6	Tax expense
		Current Tax Expense	40.15	26.14	145.15
		Deferred Tax Expense	36.79	44.68	210.85
		Fringe Benefit Tax	3.23	2.66	11.70
	7	Net Profit	274.17	201.90	913.42
	8	Paid-up share capital (Face Value of Rs.10/- each)	2,005.72	2,004.11	2,005.72
	9	Reserves excluding Revaluation Reserve	-	-	15,894.21
	10	Earning Per Share (EPS)
		Basic Earnings per share (Rs.)*	1.37	1.01	4.55
	11	Public Shareholding
		- No. of shares	12,644,517	13,688,103	13,547,423
		- Percentage of shareholding	63.04%	68.30%	67.54%
	* 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
	20th October, 2008 and were subjected to limited review by Statutory Auditors.
	2) Tablet division had commenced commercial operations from 23rd September, 2008.
	3) Foreign Exchange Fluctuations of Rs.245.72 lakhs (net) includes re-statement of foreign currency loans,
	receivables and payables.
	4) 16,00,000 share warrants issued have lapsed on 27th September, 2008 and hence forfeited.
	5) The above unaudited results are for the single entity and do not include consolidated financials
	6) The company has not received any complaints from investors during the quarter 1st July '08 to 30th Sept '08
	and no complaints were pending from previous quarter.
	7) The Company operates only in the segment of Pharmaceuticals.
	8) Figures are regrouped wherever necessary.
				for and on behalf of the board
	Place  : Hyderabad			Dr.C.Nageswara Rao
	Date   :  20.10.2008			Chairman