1. Torrent Pharmaceuticals Ltd Investor Presentation FY 2011

2. This information may contain certain forward-looking statements/ details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views expressed herein. Investors/shareholders/public are hence cautioned not to place undue reliance on these statements/ details, and are advised to conduct their own investigation and analysis of the information contained or referred to in this section before taking any action with regard to their own specific objectives. Further, the discussion following herein reflects the perceptions on major issues as on date and the opinions expressed here are subject to change without notice. The Company undertakes no obligation to publicly update or revise any of the opinions or forward-looking statements expressed in this section, consequent to new information, future events or otherwise. Caveat

3. 1.Performance Highlights 2.Financials 3.Business Segments –India –International 4.Facilities – Expansion Plan Contents

4. 10-11 Highlights Revenues at Rs. 21,970 Mn vs. Rs 18,998 Mn Revenue growth of 16% on the back of robust growth from India, US and contract manufacturing operations. International sales boosted by noticeable performance in US, Brazil and Heumann (Germany) operations. PBT at Rs. 3,427 Mn vs. Rs 3,472 Mn Adjusting for one – off’s in USA, Brazil & Investment spend in India & Overseas markets PBT margins remained stable Lower margins in Indian formulations business due to investments in new therapeutic areas and Field Force expansion

5. Financials

6. Rs. Mn Sales Progression

7. P&L Rs. Mn

8. Balance Sheet Rs. Mn

9. Business Segments India

10. Highlights & Growth Drivers Rs. Mn India FY 11 Highlights MAT March 2011 gwth of 17%, vol gwth 17%, New Introductions 2%, Price de-gwth 2%. Lower margins on account of planned Therapeutic and Field force expansions Growth drivers Consolidate entry into newer geographies and therapeutic areas Brand building thru increased Specialty Coverage & Creeping Expansion in Customer Base New Product Introductions including filling of Portfolio Gaps Entry into new therapeutic areas

11. Business Segments International Operations

12. International Operations – Expanding Share FY 11 - Turnover International Revenues Rs. Mn Growing share of International – up from 26% to 51%

13. Rs. Mn Highlights & Growth Drivers Brazil FY 11 Highlights Reai growth of ~ 11% with volumes growing 9%, New Introductions 3%, Price de- growth 1%. Adjusted for one off effect, Sales in Reai grew by 19% Torrent growing at 10% vs. Covered Market growth of 11% Adjusting for sales spill over margins improved mainly on account higher marketing spend productivity and lower R&D spend. Growth Drivers Existing Products & Introduction of new products (30-35 new launches by 2015-16) Entry into Mexico Piggy-back on Brazil portfolio Launch of Branded Generic (BG) model in CNS with 6 products and field force of 35 people Entry into CV segment in 2011-12 Portfolio to grow to 30 products in 4 years with field force of 200 people

14. FY 11 Highlights Adjusting for one time charge back’s sales grew by 60% Improving market share in commercialized molecules Citalopram ~ 30% (28%), Zolpidem ~ 22% (22%) 26 ANDA's approved till date (13 actively marketed, 9 under patent) Growth Drivers 32 ANDA's pending for approval & 16 ANDA's under development Break-even likely by 2012-13 Highlights & Growth Drivers Rs. Mn USA

15. Rs. Mn Highlights & Growth Drivers FY 11 Highlights Euro sales growth of 31%, with market share growing from 1.70% to 2.10% Stable margins Growth Drivers Heumann successful in winning tenders New Products going off patent and Therapy coverage expansion Shift of manufacturing base to India to boost competitiveness in bidding Germany - Heumann

16. Rs. Mn Highlights & Growth Drivers Europe (excl Heumann) FY 11 Highlights -Euro sales growth of 19% -Lower gross margins due to adverse product mix offset by forex gains Growth Drivers - New Product Pipeline – 30 products till 2014-15 - Increasing geographical through direct field force presence in Romania and UK in the immediate term.

17. Rs. Mn Highlights & Growth Drivers ROW FY11 Highlights Top line growth of 12% adjusted for currency movements top line grew by 16% Lower margins due increased spend for new geographies partially off set by favorable currency movements. Growth Drivers Entry into semi-regulated markets like Thailand (Market Size of over USD 2 bio) – Revenues expected to flow from FY13. Increased focus on existing territories with direct field force presence viz Philippines, Sri Lanka, Vietnam & Myanmar Scale up of operations in regulated markets like Australia & semi-regulated markets like South Africa. Minimize development costs by leveraging on R&D costs incurred for developed markets

18. Facilities – Expansion Plan

19. Dahej SEZ Nature: Formulation & API Capacity Enhancement Project Cost: Rs. 800 crores Planned capacities: 50 TPA plus 11,000 million tablets / capsules p.a. Timelines for completion: Phase I: Project cost of Rs. 500 crores, commissioning in FY 2014-15 Phase II: Project cost of Rs. 300 crores, commissioning in FY 2016-17 Justification: –With growing volumes in US / EU, API + Formulation capacity constraint is anticipated 2-3 years. Facilities – Expansion Plan

20. Thank You