Tender

UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED MARCH 31, 2002

(Rs in Lacs)

	(1) Quarter endedMar 31, 2002 (3 months) (Unaudited)	(2) Correspond-ing quarter ended Mar 31, 2001 in the previous year (3 months) (Unaudited)	(3) Half year ended Mar 31, 2002 (6 months) (Unaudited)	(4) Half year ended Mar 31, 2001 (6 months) (Unaudited)	(5) Year to date figures for current period (Apr 1, 2001 - Mar 31, 2002) (12 months) (Audited)	(6) Previous accounting year (Apr 1, 2000 - Mar 31, 2001) (12 months) (Audited)
1. Net Sales/ Income from Operations	38551	41379	64995	74183	102730	139403
2. Other Income	147	131	207	182	361	580
3. Total Expenditure a.(Increase)/Decrease in stock in trade b.Consumption of raw material c. Staff cost d. Power, Water & Fuel e.OtherExpenditure	10278 17486 1547 4605 4677	5745 19048 1738 5365 4464	5112 35623 2928 9688 9061	(330) 42308 3164 11716 8883	3358 58926 5706 17009 17417	(3044) 82926 5139 22712 18040
4. Interest	973	3299	4164	6550	10776	13036
5. Depreciation	993	968	2087	2029	4274	4150
6. Profit/(Loss) before tax (1+2-3-4-5)	(1861)	883	(3462)	44	(14375)	(2976)
7. Provision for taxation	-	-	-	-		-
8. Net Profit/(Loss)(6-7)	(1861)	883	(3462)	44	(14375)	(2976)
9. Paid-up equity share capital (Face Value Rs.10 each)	16110	16214	16110	16214	16110	16214
10.Reserves excluding revaluation reserves (as per balance sheet) of previous accounting year	-	-	-	-		1338
11.EPS for the period, for the year to date and for the previous year (Rs)	-	-	-	-		-
12. Aggregate of non-promoter shareholding Number of Shares Percentage of Shareholding	23733100 14.73	25809700 15.82	23733100 14.73	25809700 15.82	23733100 14.73	25809700 15.82

Note :
1) Ammonia/Urea Plants were shut down for Annual Turnaround and subsequently to rectify the problems in one of the Urea Reactors. The Plant is being operated at full stream since Dec 2001.
2) Production levels of Ammonia and Urea Plants also had to be restricted to low loads due to severe water shortage in Chennai City from July 2001 to Nov 2001.
3) 20,76,600 Equity Shares were forfeited in Apr 2001 for non-payment of allotment money for the Equity Shares issued in May 1997. Accordingly, the percentage of non-promoter shareholding and Paid-up Equity Share Capital stand reduced.
4) The Financial Assistance cum Capital Restructuring proposal is under active consideration of Govt. of India. Under the circumstances, the Company has decided to extend the Financial Year 2001-02.
5) Reduction in interest cost on account of approval and implementation of Financial Assistance cum Capital Restructuring proposal by Financial Institutions and interest concession on Project loans announced by GOI have been reckoned during the quarter.
6) The Unaudited Financial Results for the second half year (Oct 2001 to Mar 2002) have been subjected to 'Limited Review' by the Auditors.
7) The above results were approved at the meeting of Board of Directors on April 17, 2002.

BY ORDER OF THE BOARD

Place : Chennai

U S JHA

Date : Apr 17, 2002

Chairman & Managing Director