MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED SEPTEMBER 30, 2005
								(Rs. in lacs)
				Quarter	Corresponding	Year-to-date	Year-to-date	Previous
				ended	quarter ended	figures for the	figures for the	Accounting
				30-Sep-05	30-Sep-04	current year	previous year	Year ending
					In the	(01-04-05 to	(01-04-04 to
					previous year	30-09-05)	30-09-04)	31-Mar-05
				(3 months)	(3 months)	(6 months)	(6 months)	(12 months)
				(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
				(1)	(2)	(3)	(4)	(5)
	1	Net Sales/Income from Operations		25447	31621	50001	58365	128622
	2	Other Income		7	63	141	118	1070
	3	Total Expenditure
		a.	(Increase)/Decrease in Stock in Trade	3119	2384	(2116)	(1145)	1946
		b.	Consumption of raw material	12223	21636	29187	39361	77579
		c.	Staff Cost	989	1167	2107	2199	4557
		d.	Power, Water & Fuel	6688	5941	14514	12660	26392
		e.	Other Expenditure	3072	3361	5595	6884	15304
	4	Interest		1859	1909	3457	3709	6859
	5	Depreciation		1107	1114	2216	2228	4359
	6	Profit/(Loss) before tax (1+2-3-4-5)		(3603)	(5828)	(4818)	(7413)	(7304)
	7	Write-off
		-	GOI - Interest
		-	ICICI Bank Ltd. - Principal					1465
	8	Provision for taxation
	9	Net Profit/(Loss) (6-7-8)		(3603)	(5828)	(4818)	(7413)	(5839)
	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		(2.24)	(3.62)	(2.99)	(4.60)	(3.62)
		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 & Urea Plants were shutdown for annual planned turn-around from 05/07/2005 to 02/08/2005 and 05/08/2005 respectively. Hence production for the quarter and for the half year ended September 30, 2005 is at lower levels.
	2	NPK Plants were  shutdown for 71 days and 130 days during the quarter and half year ended September 30, 2005 respectively on account of raw material (Phos Acid) limitation.
	3	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).
	4	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).
	5	Details of Investors complaints and services during the quarter :Pending at the beginning of the quarter : Nil, Received: 49, Disposed off : 47 and Pending at the end of the Quarter : 2
	6	Audit  observations  on  the  accounts  2004-05 and management  clarification  thereon as explained in the Annual Report stand.
	7	The unaudited results are subject to Limited Review by Statutory Auditor.
	8	The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at
		their meeting held on Oct 28, 2005
						By order of the Board
	Place :  Chennai					Sukumar N Oommen
	Date   :		Oct 28, 2005			Chairman & Managing Director