MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED SEPTEMBER 30, 2008
								(Rs. in lakhs)
	Particulars			3 months ended	Corresponding 3 months ended in the previous year	Year to date figures for current period ended	Year to date figures for the previous year ended	Previous accounting    year          ended
				(30/09/2008)	(30/09/2007)	(30/09/2008)	(30/09/2007)	(31/03/2008)
				Unaudited	Unaudited	Unaudited	Unaudited	Audited
				(1)	(2)	(3)	(4)	(5)
	1	(a) Net Sales/Income from Operations		46407	24889	65086	45028	114006
		(b)	Other Operating Income
	2	Expenditure
		a.	Increase/Decrease in Stock in trade	(1539)	(79)	(1285)	(1763)	(1937)
			and work in progress
		b.	Consumption of Raw Materials	27910	13957	36855	29008	68364
		c.	Purchase of Traded Goods	42	513	59	643	1733
		d.	Employees Cost	1003	994	2080	2042	3884
		e.	Power, Water & Fuel	13639	8577	19712	14741	35261
		f.	Depreciation	1113	1094	2226	2189	4284
		g.	Other Expenditure	2202	2158	4094	4249	8843
		h.	Total	44370	27214	63741	51109	120432
			(Any item exceeding 10% of the total expenditure to be shown separately)
	3	Profit from Operations before Other Income, Interest & Exceptional Items (1-2)		2037	(2325)	1345	(6081)	(6426)
	4	Other Income		40	98	57	253	863
	5	Profit before Interest & Exceptional Items (3+4)		2077	(2227)	1402	(5828)	(5563)
	6	Interest		2363	2221	4697	4388	7910
	7	Profit after Interest but before Exceptional Items (5-6)		(286)	(4448)	(3295)	(10216)	(13473)
	8	Exceptional Items
	9	Profit (+)/ Loss(-) from Ordinary Activities before tax (7 + 8)		(286)	(4448)	(3295)	(10216)	(13473)
	10	Tax Expense		7	3	10	7	12
	11	Net Profit (+) / Loss (-) from Ordinary Activities after tax (9 - 10)		(293)	(4451)	(3305)	(10223)	(13485)
	12	Extraordinary Items (net of tax expense Rs...)
	13	Net Profit (+) / Loss (-) for the period (11-12)		(293)	(4451)	(3305)	(10223)	(13485)
	14	Paid-up equity share capital		16110	16110	16110	16110	16110
		(Face value Rs 10 per share)
	15	Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year		1239	1239	1239	1239	1239
	16	Earnings Per Share (EPS)
		a) Basic and diluted EPS before Extraordinary		(0.18)	(2.76)	(2.05)	(6.35)	(8.37)
			items for the period, for the year to date and
			for the previous year (not to be annualized)
		b)	Basic & diluted EPS after Extraordinary	(0.18)	(2.76)	(2.05)	(6.35)	(8.37)
			items for the period, for the year to date and
			for the previous year (not to be annualised)
	17	Public Shareholding
		-	Number of Shares	23733100	23733100	23733100	23733100	23733100
		-	Percentage of Shareholding	14.73	14.73	14.73	14.73	14.73
	1	Ammonia and Urea Plants were shutdown from 07.05.2008 to 03.07.2008 for statutory inspection of Boilers and Annual Turnaround
		maintenance.
	2	NPK Plants were shutdown during the period up to September 30, 2008 for want of raw materials due to paucity of funds.
	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:17,  Disposed Off:17
		and Pending at the end of the Quarter: Nil
	6	Audit observations on the Accounts for 2007-08 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 23, 2008.
							By Order of the Board
	Date : 23-10-2008					S  Muralidharan
	Place: New Delhi					Chairman & Managing Director