MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED SEPTEMBER 30, 2006
								(Rs. in lacs)
				Quarter	Corresponding	Year-to-date	Year-to-date	Previous
				ended	quarter ended	figures for the	figures for the	Accounting
				30-Sep-06	30-Sep-05	current year	previous year	Year ending
					In the	(01-04-06 to	(01-04-05 to
					previous year	30-09-06)	30-09-05)	31-Mar-06
				(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		33453	25447	62233	50001	108422
	2	Other Income		101	7	160	141	577
	3	Total Expenditure
		a.	(Increase)/Decrease in Stock in Trade	2264	3119	(413)	(2116)	1363
		b.	Consumption of raw material	19040	12223	37567	29187	64785
		c.	Staff Cost	1002	989	2051	2107	4264
		d.	Power, Water & Fuel	9310	6688	18445	14514	28960
		e.	Other Expenditure	2624	3042	5153	5535	11882
	4	Interest		2168	1859	4341	3457	6777
	5	Depreciation		1089	1107	2177	2216	4405
	6	Profit/(Loss) before tax (1 + 2 - 3 - 4 - 5)		(3943)	(3573)	(6928)	(4758)	(13437)
	7	Write-off
		-	GOI - Interest
		-	Excess Provision writtern-back					376
	8	Provision for taxation - Fringe Benefit Tax		9	30	12	60	113
	9	Net Profit/(Loss)  (6 - 7 - 8)		(3952)	(3603)	(6940)	(4818)	(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		(2.45)	(2.24)	(4.31)	(2.99)	(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 for maintenance of Exchanger tube leak in Ammonia Plant from 01.08.2006 to 06.08.2006 during the Quarter ended Sep 30, 2006.
	2	NPK Plants were shutdown for 86 days during the quarter ended Sep 30, 2006 and 166 days during the half year ended Sep 30, 2006 on account of raw material 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: 50,  Disposed Off: 50 and Pending at the end of the Quarter: Nil.
	6	Audit observations on the accounts 2005-06 and management clarification thereon  stand.
	7	The unaudited results have been subjected to Limited Review by Statutory Auditors.
	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 October 25, 2006.
					By order of the Board
	Place: Chennai				Sukumar N Oommen
	Date:  25.10.06				Chairman & Managing Director