MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	AUDITED FINANCIAL RESULTS  FOR THE YEAR ENDED MARCH 31, 2007
								(Rs. in lacs)
				9 Months	Quarter	Corresponding	Current	Previous
				ended	ended	quarter ended	Accounting	Accounting
				31-Dec-06	31-Mar-07	31-Mar-06	Year Ending	Year ending
						in the	31-Mar-07	31-Mar-06
						previous year
					(3 months)	(3 months)	(12 months)	(12 months)
				(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Audited)
				(1)	(2)	(3)	(4)	(5)
	1	Net Sales/Income from Operations		91554	29512	29711	121066	108422
	2	Other Income		262	423	349	685	577
	3	Total Expenditure
		a.	(Increase)/Decrease in Stock in Trade	4188	(1094)	772	3094	1363
		b.	Consumption of raw material	52723	16896	20597	69619	64785
		c.	Staff Cost	3075	1131	1173	4206	4264
		d.	Power, Water & Fuel	26347	7398	6828	33745	28960
		e.	Other Expenditure	7418	2711	3063	10129	11882
	4	Interest		6426	1661	1572	8087	6777
	5	Depreciation		3265	1071	1089	4336	4405
	6	Profit/(Loss) before tax (1+2-3-4-5)		(11626)	161	(5034)	(11465)	(13437)
	7	Write-off
		-	GOI - Interest
		-	Excess Provision written-back			376		376
	8	Provision for taxation		18	(5)	113	13	113
	9	Net Profit/(Loss) (6-7-8)		(11644)	166	(4771)	(11478)	(13174)
	10	Paid-up equity share capital		16110	16110	16110	16110	16110
		(Face value Rs 10 per share)
	11	Reserves excluding revaluation reserves		1239	1239	1239	1239	1239
		(as per balance sheet) of previous
		accounting year
	12	EPS for the period, for the year to date		(7.23)	0.11	(2.96)	(7.12)	(8.18)
		and for the previous year (Rs.)
	13	Aggregate of non-promoter shareholding
		-	Number of Shares	23733100	23733100	23733100	23733100	23733100
		-	Percentage of Shareholding	14.73	14.73	14.73	14.73	14.73
	Note
	1	Ammonia and Urea Plants were shutdown from 29.03.2007 for statutory inspection of Boilers and Annual Turnaround 2007.
	2	NPK Plants were shutdown for 67 days and 325 days during the quarter and period ended March 31, 2007 respectively on
		account of paucity of funds to procure raw materials.
	3	Net sales/income for the quarter includes a receipt of Rs 4953 lacs on account of extension of Outlier benefit for Urea from
		01.04.2006 to 30.09.2006.
	4	Fertilizer manufacturing being the only main segment and trading operations being less than 10% of the total revenue, there is no
		reportable segment in MFL as per AS 17 (Segment Reporting).
	5	In view of the loss incurred by the Company during the period provision for current tax is not considered necessary.  Also, as a
		prudent policy no deferred tax asset has been recognised per AS 22 (Accounting for Taxes on Income).
	6	Details of Investors complaints and services during the quarter:  Pending at the beginning of the Quarter: Nil, Received: 18 Nos,
		Disposed Off: 18 Nos and Pending at the end of the Quarter. Nil.
	7	With regard to Auditor's opinion that the Company is not a `GOING CONCERN' but a `GONE CONCERN', it is stated that
		the Company has represented to the GOI that the policy on pricing of NPK since Apr 2002 and on Urea from Apr 2003 have
		adversely affected its profitability.  Consequently, the Company has been making huge losses.  The networth has been fully
		eroded on 31.3.2004.      The Company has been urging the GOI to make suitable corrections in the Pricing Policies. The DOF
		referred the Company to BRPSE.    BRPSE recommended certain relief measures for revival of the Company.  A Financial
		Restructuring package aimed at making the operations of the Company commercially viable is under the consideration of
		Government.
	8	The above results have been reviewed and approved by the Board of Directors at their meeting held on June 20, 2007.
							By  Order of the Board
	Place : Chennai					Sukumar  N  Oommen
	Date   : 20.06.2007					Chairman & Managing Director