MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED SEPTEMBER 30, 2007             (Rs in lakhs)
				3 months ended	Corresponding	Year to date	Year to date	Previous
					3 months	figures for	figures for	Accounting
					ended in the	current	the previous	Year ended
					previous year	Period ended	year ended
				(30/09/2007)	(30/09/2006)	(30/09/2007)	(30/09/2006)	(31/03/2007)
				Unaudited	Unaudited	Unaudited	Unaudited	Audited
				(1)	(2)	(3)	(4)	(5)
	1	Net Sales/Income from Operations		24889	33453	45028	62233	121066
	2	Other Income		98	101	253	160	685
	3	Total Income (1+2)		24987	33554	45281	62393	121751
	4	Expenditure
		a.	(Increase)/Decrease in Stock in trade	(79)	2264	(1763)	(413)	3094
			and work in progress
		b.	Consumption of Raw Materials	13957	19040	29008	37567	69619
		c.	Purchase of Traded Goods	513	36	643	52	297
		d.	Employees Cost	994	1002	2042	2051	4206
		e.	Power, Water & Fuel	8577	9310	14741	18445	33745
		f.	Depreciation	1094	1089	2189	2177	4336
		g.	Other Expenditure	2158	2588	4249	5101	9832
		h.	Total	27214	35329	51109	64980	125129
	5	Interest		2221	2168	4388	4341	8087
	6	Exceptional items
	7	Profit (+) / Loss (-) from		(4448)	(3943)	(10216)	(6928)	(11465)
		Ordinary Activities before tax (3) - (4+5+6)
	8	Tax Expense		3	9	7	12	13
	9	Net Profit (+) / Loss (-) from		(4451)	(3952)	(10223)	(6940)	(11478)
		Ordinary Activities after tax (7-8)
	10	Extraordinary Items (net of tax expense Rs   )
	11	Net Profit (+) / Loss (-) for the period (9-10)		(4451)	(3952)	(10223)	(6940)	(11478)
	12	Paid-up equity share capital		16110	16110	16110	16110	16110
		(Face value Rs 10 per share)
	13	Reserves excluding Revaluation		1239	1239	1239	1239	1239
		Reserves as per balance sheet of
		previous accounting year
	14	Earnings Per Share (EPS)
		a)	Basic & diluted EPS before Extraordinary items	(2.76)	(2.45)	(6.35)	(4.31)	(7.12)
		b)	Basic & diluted EPS after Extraordinary items	(2.76)	(2.45)	(6.35)	(4.31)	(7.12)
			for the period, for the year to date and
			for the previous year (not to be annualised)
	15	Public 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 Plant was shutdown for 5 days on account of pipeline leakages during the quarter ended September 30, 2007 and for 37 days on account of Annual Turnaround 2007 coupled with pipeline leakages during the half year ended September 30, 2007.
	2	Urea Plant was shutdown for 8 days during the quarter ended September 30, 2007 and 44 days during the half year ended September 30,2007 on account of Ammonia Plant shutdown and other maintenance jobs.
	3	NPK Plants were shutdown for 90 days during the quarter ended September 30, 2007 and 164 days during the half year ended September 30, 2007 on account of raw material limitation.
	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:  27,  Disposed Off: 27 and Pending at the end of the Quarter: Nil.
	7	Audit observations on the Accounts for 2006-07 and Management clarification thereon  stand.
	8	The unaudited results have been subjected to Limited Review by Statutory Auditors
	9	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 29, 2007.
						By Order of the Board
	Place :  Chennai		New Delhi			G S  Mangat
	Date  :  29.10.2007					Chairman & Managing Director