Two new physalins, 16,24-cyclo-13,14-secoergosta-2-ene-18,26-dioic acid-14 : 17,14 : 27-diepoxy-11beta,13,20,22-tetrahydroxy-5alpha-methoxy-1,15-dioxo-gamma-lactone delta-lactone (1), and 16,24-cyclo-13,14-secoergosta-2-ene-18,26-dioic acid-14 : 17,14 : 27-diepoxy-5alpha,11beta,13,20,22-pentahydroxy-1,6,15-trioxo-gamma-lactone delta-lactone (2), have been isolated from the whole plant of Physalis minima Linn. (var. indica). Their structures were deduced on the basis of spectroscopic analysis. Both of these compounds have shown potent leishmanicidal activity against the promastigotes of Leishmania major.