UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED JUNE 30,  2002

                                                                                                                                                                                                    (Rs in Lacs)

       

(1)

Quarter ended

Jun 30, 2002     (3 months)         (Unaudited)

(2)

Correspond-ing quarter ended Jun 30, 2001 in the previous year (3months) (Unaudited)

(3)

Year to date upto Jun 30, 2002

(15months) (Unaudited)

(4)

Year to date upto   Jun 30, 2001 

(15months) (Unaudited)

(5)

Previous accounting year (Apr 1, 2000 – Mar  31, 2001)          (12months)   (Audited)

1. Net Sales/ Income from Operations

16200

10126

118930

149529

139403

2. Other Income

34

54

395

634

580

3. Total Expenditure  

       a.        (Increase)/Decrease in                stock in trade

b.       Consumption of raw material

c.        Staff cost

d.       Power, Water & Fuel

      e.    Other Expenditure     

 

(16769)

 

18584

1280

5929

3612

 

(9884)

 

12351

1395

3413

3830

 

 (13411)

 

77510

6986

22938

21029

 

(12928)

 

95277

6534

26125

21870

 

(3044)

 

82926

5139

22712

18040

4. Interest

2832

3104

13608

16140

13036

5. Depreciation

1124

1093

5398

5243

4150

6. Profit/(Loss) before tax (1+2-3-4-5)

(358)

(5122)

(14733)

(8098)

(2976)

7. Write-off of Interest Liability due to approval of FACR by GOI

-

-

6500

-

-

8. Provision for taxation

-

-

-

-

-

9. Net Profit/(Loss)(6-7)

(358)

 (5122)

(8233)

(8098)

(2976)

10. Paid-up equity share capital (Face value Rs 10 per share)

16110

16110

16110

16110

16214

11.Reserves excluding revaluation reserves (as per balance sheet) of previous accounting year     

 

-

  

-

 

 

 

1338

12.EPS for the period, for the year to date and for the previous year  (Rs)

-

-

 

 

-  

13. Aggregate of non-promoter shareholding                   Number of  Shares

      Percentage of Shareholding

 

23733100

14.73

 

23733100

14.73

 

23733100

14.73

 

23733100

14.73

  

25809700

15.82

 Note :    

1)       Approval of Financial Assistance cum Capital Restructuring (FACR) proposal by Government of India has been received.

2)       The Company has decided to extend the Financial Year 2001-02 by one month to cover Apr 2001 to Apr 2002 against 18 months originally envisaged.

3)       Interest concession scheme on project loans announced by GOI has been reckoned for the financial year 2001-02.

4)       Ammonia/Urea Plants were shut down for Annual Turnaround and subsequently to rectify the problems in one of the Urea Reactors (May 28, 2001 to Aug 2, 2001).  The Plant is being operated at full stream since Dec 2001. 

5)       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. 

6)       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. 

7)     The Company is engaged in the manufacture of Chemical Fertilizers which is only major business segment 

8)     The Company has no deferred tax liability.

                                                                                                                                                           BY ORDER OF THE BOARD

Place  :  Chennai                                                                                                                                             U S JHA              

Date   :  July 30, 2002                                                                                                                    Chairman & Managing Director

 
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