Analysis of the four available sets of the absorption spectrum measurements has been carried out on the assumption of zero redshifts. It is concluded that PKS 0237-23 is a shell star and it is undergoing changes. Also it appears to be deficient in hydrogen. The following identifications are made. H (some middle members of the Balmer series blended with other lines), He I (lines in Varshni, 1973 in addition to 3472 Å, 3499, 3502, 3537, 3563, 3614, 3769, 3820, 3838, 3889, 4026, 4471, and 4922), He II (3203), O II (3727, 3760, 4349, 4417), Ne II (3664, 3694, 3710, 3727), Mg I (3838), Mg II (4481), Si I (3905), Si II (3854, 3856, 3863, 4128), Si III (3762, 4089), P IV (3348, 3364, 3718, 3729), Ca II (3934, 3968), Ti II (3349, 3685, 3759, 3761, 3900, 3913, 4012, 4395), V II (3590, 3592), Cr II (4012, 4262, 4284), Fe I (3748, 3860, 3879, 4326, 4462), Fe II (4233, 4273, 4297, 4385, 4417, 4455, 4491, 4520, 4584, 4924), Sr II (4078, 4215), and Zr II (4149 Å).