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Financial Year 2007 - 2008

Quarter IV
(March 2008)

Quarter III
(December 2007)

Quarter II
(September 2007)

Quarter I
(June 2007)

Financial Year 2006 - 2007

Quarter IV
(March 2007)

Quarter III
(December 2006)

Quarter II
(September 2006)

Quarter I
(June 2006)

Financial Year 2005 - 2006

Quarter IV
(March 2006)

Quarter III
(December 2005)

Quarter II
(September 2005)

Quarter I
(June 2005)

Financial Year 2004 - 2005

Quarter IV
(March 2005)

Quarter III
(December 2004)

Quarter II
(September 2004)

Quarter I
(June 2004)

Financial Year 2003 - 2004

Quarter IV
(March 2004)

Quarter III
(December 2003)

Quarter II
(September 2003)

Quarter I
(June 2003)

Financial Year 2002 - 2003

Quarter IV
(March 2003)

Quarter III
(December 2002)

Quarter II
(September 2002)

Quarter I
(June 2002)

MATRIX LABORATORIES LIMITED
1-1-151/1, IV FLOOR, SAIRAM TOWERS, ALEXANDER ROAD SECUNDERABAD- 500 003

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2007

(Rs.in Million)
Quarter ended
31st March
 Sl.No
Particulars
Nine months ended 31st December 2006(Un Audited)
Year ended
31st March
2007(Un Audited) 2006(Audited)
    2007(Audited) 2006(Audited)
2,387.93
1,610.90
1
 Sales (net)
5,107.13
7,495.06
6,671.36
1,857.14
1,289.66
- Exports
3,197.48
5,054.62
3,959.88
530.79
321.24
- Domestic
1,909.65
2,440.44
2,711.48
66.17
66.17
2
 Income from Potential patent infringment suit
202.22
268.39
268.39
32.42
98.53
3
 Other Income
203.96
236.38
1,317.26
1,516.00
1,281.47
4
 Total Expenditure
4,203.04
5,719.04
5,523.71
(53.64)
114.15
a) (Increase) / Decrease in Stock
25.42
(28.22)
(167.83)
1052.38
793.01
b) Materials Consumed
2,823.00
3,875.38
4,029.84
159.85
117.27
c) Staff Cost
438.53
598.38
480.00
357.41
257.04
d) Other Expenditure
916.09
1,273.50
1,181.70
970.52
494.13
5
 Profit before R&D, Interest & Depreciation(1+2+3-4)
1,310.27
2,280.79
2,733.30
283.08
120.77
6
 Research and Development Expenditure
517.84
800.92
311.19
44.55
27.58
7
 Interest
109.09
154.01
81.50
65.58
55.15
8
 Depreciation
185.13
250.71
223.42
577.31
290.63
9
 Profit before Tax (5-6-7-8)
497.84
1,075.15
2,117.19
33.54
(16.42)
10
 Provision for Tax (net)
45.48
79.02
293.39
543.77
307.05
11
 Profit after Tax (9-10)
452.36
996.13
1,823.80
308.24
307.26
12
 Equity Capital
307.96
308.24
307.26
-
-
13
 Reserves excluding revaluation reserves
-
8,333.87
14
 E.P.S (Face value - Rs.2/-)
3.53
2.00
- Basic - Not annualised
2.94
6.48
12.11
3.51
1.96
- Diluted - Not annualised
2.87
6.43
11.89
15
 Aggregate of Non Promoters' Shareholding
36,405,635
68,750,750
Number of shares - Face value of Rs.2 / - each.
69,100,420
36,405,635
68,750,750
23.62%
44.75%
Percentage of Shareholding
44.88%
23.62%
44.75%

Notes :

1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting on 23rd May 2007. 
2 The activities of the Company relate to only one business segment i.e. Pharmaceuticals. 
3 The company became a subsidiary of MP Laboratories (Mauritius ) Limited, with effect from 8th January 2007. The ultimate holding company is Mylan Laboratories Inc., (USA). 
4 The results of the current year are not comparable with that of the previous year on account of certain exceptional items which impacted the profit favourably in the previous year. 
5 During the year 278,315 Equity Shares of Rs. 2/- each at a premium of Rs.141.13 and 212,950 Equity Shares of Rs 2/- each at a premium of Rs 142.63/- were allotted, on exercise of stock options under the Employees Stock Option Scheme , of which 127,095 and 14,500 equity shares respectively were issued during the quarter. 
6 Pursuant to the early application of Accounting Standard 15 (Revised) on 'Employee Benefits' (AS15) issued by the Institute of Chartered Accountants of India , the additional obligation of the Company as on March 31, 2006 amounting to Rs. 29.59 Millions [ net of deferred tax asset [Rs. 15.01 Millions)], has been adjusted to General Reserve in accordance with the transitional provisions of the Standard.  
7 Provision for tax includes Current tax, Deferred tax and Fringe benefit tax and is net of MAT credit available of Rs 35 Million. (9 months ended 31st December 2006 : Rs. 24.19 Million , Previous Year : Rs. Nil ) 
8 The figures for the previous year / period have been rearranged wherever necessary to conform to current year's presentation. 
9 Summary of Investor Complaints :
Opening : Nil , Received during the quarter : 2 , Resolved : 2 , Closing : Nil 

  For and on behalf of the Board

Place : Pittsburgh , USA
Date : 23rd May 2007		 Rajiv Malik
Managing Director & Chief Executive Officer




MATRIX LABORATORIES LIMITED
1-1-151/1, IV FLOOR, SAIRAM TOWERS, ALEXANDER ROAD SECUNDERABAD- 500 003

AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2007

(Rs.in Million)
Quarter ended
31st March
 Sl.No
Particulars
Nine months ended 31st December 2006(Un Audited)
Year ended
31st March
2007(Un Audited) 2006(Audited)
    2007(Audited) 2006(Audited)
4,374.37
3,928.04
1
 Sales (net)
12,105.90
16,480.27
11,586.14
66.17
66.17
2
 Income from Potential patent infringment suit
202.22
268.39
268.39
14.86
136.98
3
 Other Income
261.07
275.95
1,400.81
3,410.55
3,356.08
4
 Total Expenditure
10,340.19
13,750.74
9,876.01
(88.21)
(11.29)
a) (Increase) / Decrease in Stock
(162.63)
(250.84)
(293.27)
2,272.51
2,313.90
b) Materials Consumed
6,958.60
9,231.11
7,070.38
397.41
506.78
c) Staff Cost
6,958.60
1,773.35
1,210.36
828.84
546.69
d) Other Expenditure
2,168.28
2,997.12
1,888.54
1,044.85
775.11
5
 Profit before R&D, Interest & Depreciation(1+2+3-4)
2,229.02
3,273.87
3,379.34
341.42
147.21
6
 Research and Development Expenditure
666.14
1,007.56
393.73
148.77
129.54
7
 Interest
555.42
704.19
268.84
126.86
104.03
8
 Depreciation
413.84
540.70
335.75
427.80
394.33
9
 Profit before Tax (5-6-7-8)
593.62
1,021.42
2,381.72
178.52
22.79
10
 Provision for Tax (net)
86.37
264.89
376.09
249.28
371.54
11
 Profit after Tax before minority interest & share in associates (9-10)
507.25
756.53
2,005.63
20.27
(6.16)
12
 Less : Minority interest
(13.70)
6.57
(6.16)
5.68
(3.70)
13
 Less : Share of Loss in Associate
(5.68)
-
(7.42)
275.23
361.68
14
 Net Profit (11 - 12 - 13)
487.87
763.10
1,992.05
308.24
307.26
15
 Paid- up Equity Capital (Face value- Rs 2/- each)
307.96
308.24
307.26
-
-
16
 Reserves excluding revaluation reserves
-
-
9,420.63
17
 E.P.S (Face value - Rs.2/-)(Not Annualised)
1.79
2.36
- Basic
3.17
4.96
13.23
1.78
2.31
- Diluted
3.10
4.92
12.99
18
 Aggregate of Public Shareholding
36,405,635
68,750,750
Number of shares - Face value of Rs.2 / - each.
69,100,420
36,405,635
68,750,750
23.62%
44.75%
Percentage of Shareholding
44.88%
23.62%
44.75%
Segment Information :
Segment Revenue :
3,901.16
3,518.76
- Pharmaceuticals
10,381.86
14,283.02
9,974.62
473.21
559.82
- Medical Supplies
1,724.04
2,197.25
1,611.53
-
(150.54)
Less : Inter Segment Revenue
-
-
-
4,374.37
3,928.04
Net Segment Revenue
12,105.90
16,480.27
11,586.15
Segment Results :
Profit before tax and interest from each segment
598.61
500.70
- Pharmaceuticals
1,028.80
1,627.41
2,572.64
(22.04)
23.17
- Medical Supplies
120.24
98.20
77.92
576.57
523.87
Total
1,149.04
1,725.61
2,650.56
(148.77)
(129.54)
Less: Interest
(555.42)
(704.19)
(268.84)
-
-
Other unallocable Income /(Expenditure)
-
-
-
427.80
394.33
Total Profit before Tax
593.62
1,021.42
2,381.72
Capital Employed :
15,403.30
11,970.33
- Pharmaceuticals
13,162.22
15,403.30
11,970.33
188.21
178.68
- Medical Supplies
299.24
188.21
178.68
11,920.21
10,427.11
- Unallocable
12,011.87
11,920.21
10,427.11
27,511.72
22,576.12
Total Capital Employed
25,473.33
27,511.72
22,576.12

Notes :

1 The above results were reviewed by the Audit Committee, considered and approved by the Board of Directors at their meeting held on 23rd May 2007. 
2 The results include the operations of Subsidiaries - Matrix Laboratories BV, Matrix Laboratories NV, Docpharma NV & its subsidiaries, Matrix Singapore Pte Ltd , Mchem Group, China , Matrix Inc , USA and Concord Biotech Limited, India and Joint Ventures Astrix Laboratories Limited , India and Fine Chemicals Corporation ,South Africa.  
2 The company became a subsidiary of MP Laboratories (Mauritius ) Limited, with effect from 8th January 2007. The ultimate holding company is Mylan Laboratories Inc., (USA).  
2 The results of the current year are not comparable with that of the previous year on account of :
a) acquistions at different points in time during the previous year ; and   b) certain exceptional items which impacted the profit favourably for the previous year. 
2 The figures for the previous year / period have been rearranged wherever necessary to conform to current year's presentation. 

  For and on behalf of the Board

Place : Pittsburgh, USA
Date : 23rd May 2007		 Rajiv Malik
Managing Director & Chief Executive Officer
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