SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 8-K
                                 CURRENT REPORT
                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 25, 2003

                    CARACO PHARMACEUTICAL LABORATORIES, LTD.
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

MICHIGAN                                                        38-2505723
(STATE OR OTHER JURISDICTION OF          (I.R.S. EMPLOYER IDENTIFICATION NUMBER)
INCORPORATION)
                                     0-24676
                            (COMMISSION FILE NUMBER)



                1150 ELIJAH MCCOY DRIVE, DETROIT, MICHIGAN 48202
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)


                                 (313) 871-8400
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         (c)      Exhibits

         99.1     July 25, 2003 Press Release

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

         On July 25, 2003, registrant announced its results of operations for
the second quarter ended June 30, 2003 as set forth in the press release
included as Exhibit 99.1 hereto.

         The information in this Current Report on Form 8-K, including the
exhibit, is furnished pursuant to Item 12 and shall not be deemed "filed" for
the purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
or otherwise subject to the liabilities under that Section. Furthermore, the
information in this Current Report on Form 8-K, including the exhibit, shall not
be deemed to be incorporated by reference into the filings of the Company under
the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934,
as amended.



                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated: July 29, 2003

                                  CARACO PHARMACEUTICAL
                                  LABORATORIES, LTD.
                                  (REGISTRANT)



                                  By: /s/ Narendra N. Borkar
                                      ----------------------------------------
                                      Narendra N. Borkar, CEO


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                                  EXHIBIT INDEX

Exhibit:                   Description:

99.1                       July 25, 2003 Press Release


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