Background: Plants are important resources in healthcare as they contain primary and secondary metabolites. These secondary metabolites have shown to possess various beneficial effects, which provide the scientific base for the use of herbs in the traditional medicine where they, contribute significant biological activities such as hypoglycemic, anti-diabetic, antioxidant, anti-microbial, anti-inflammatory, anti-carcinogenic, antimalarial, anticholinergic, anti-leprosy activities etc. Therefore, the active substances present in the medicinal plants have gained much importance because of their versatile applications. Lagerstroemia speciosa (L.) Pers (Lythraceae) also known as banaba, possesses several polyphenolic compounds.These phytoconstituents include ellagic acid and its derivatives, triterpenes (tannins), triterpenoids (corosolic acid), quercetin, isoquercitin, flavones and glycosides, with various biological activities.