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	MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED DECEMBER 31, 2005
								(Rs. in lacs)
				Quarter	Corresponding	Year-to-date	Year-to-date	Previous
				ended	quarter ended	figures for the	figures for the	Accounting
				31-Dec-05	31-Dec-04	current year	previous year	Year ending
					In the	(01-04-05 to	(01-04-04 to
					previous year	31-12-05)	31-12-04)	31-Mar-05
				(3 months)	(3 months)	(9 months)	(9 months)	(12 months)
				(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
				(1)	(2)	(3)	(4)	(5)
	1	Net Sales/Income from Operations		28711	37750	78711	96115	128622
	2	Other Income		87	109	228	227	1070
	3	Total Expenditure
		a.	(Increase)/Decrease in Stock in Trade	2707	2107	591	962	1946
		b.	Consumption of raw material	15001	21349	44188	60710	77579
		c.	Staff Cost	984	1050	3091	3249	4557
		d.	Power, Water & Fuel	7619	7034	22132	19694	26392
		e.	Other Expenditure	3194	4275	8819	11159	15304
	4	Interest		1778	1444	5205	5153	6859
	5	Depreciation		1100	1114	3316	3342	4359
	6	Profit/(Loss) before tax (1+2-3-4-5)		(3585)	(514)	(8403)	(7927)	(7304)
	7	Write-off
		-	GOI - Interest
		-	ICICI Bank Ltd. - Principal					1465
	8	Provision for taxation
	9	Net Profit/(Loss) (6-7-8)		(3585)	(514)	(8403)	(7927)	(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		(2.23)	(0.32)	(5.22)	(4.92)	(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
	1	Ammonia and Urea Plants were shutdown for catalysts change and other jobs in Ammonia Plant from 21.11.2005 to 11.12.2005 and from 20.12.2005 to 31.12.2005 during the Quarter ended December 31, 2005.
	2	NPK Plants were shutdown for 47 days and 177 days during the quarter and period ended December 31, 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 reportatble 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: 2.   Received: 48,    Disposed Off: 48 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 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 January 30, 2006
							By order of the Board
	Place: Chennai						Sukumar N Oommen
	Date:  30.01.2006						Chairman & Managing Director