MADRAS FERTILIZERS LIMITED
	(A Govt. of India Undertaking)
	Regd. Office : Manali, Chennai 600 068
	UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED DECEMBER 31, 2006
								(Rs. in lacs)
				Quarter	Corresponding	Year-to-date	Year-to-date	Previous
				ended	quarter ended	figures for the	figures for the	Accounting
				31-Dec-06	31-Dec-05	current year	previous year	Year ending
					In the	(01-04-06 to	(01-04-05 to
					previous year	31-12-06)	31-12-05)	31-Mar-06
				(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		29321	28711	91554	78711	108422
	2	Other Income		102	87	262	228	577
	3	Total Expenditure
		a.	(Increase)/Decrease in Stock in Trade	4601	2707	4188	591	1363
		b.	Consumption of raw material	15156	15001	52723	44188	64785
		c.	Staff Cost	1024	984	3075	3091	4264
		d.	Power, Water & Fuel	7902	7619	26347	22132	28960
		e.	Other Expenditure	2265	3164	7418	8729	11882
	4	Interest		2085	1778	6426	5205	6777
	5	Depreciation		1088	1100	3265	3316	4405
	6	Profit/(Loss) before tax (1 + 2 - 3 - 4 - 5)		(4698)	(3555)	(11626)	(8313)	(13437)
	7	Write-off
		-	GOI - Interest
		-	Excess Provision writtern-back					376
	8	Provision for taxation - Fringe Benefit Tax		6	30	18	90	113
	9	Net Profit/(Loss)  (6 - 7 - 8)		(4704)	(3585)	(11644)	(8403)	(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		(2.92)	(2.23)	(7.23)	(5.22)	(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 Plant was shutdown for 27 Hrs on account of  maintenance of Relief Valve in Ammonia Plant  between 08.11.2006 and 09.11.2006.
	2	Urea plant was shutdown for 34 Hrs on account of  steam limitation and Ammonia flow restriction between 28.10.2006 and 30.10.2006 and 93 Hrs on account of exchanger cleaning in Ist Decomposer between  06.11.2006 and 10.11.2006.
	3	NPK Plants were shutdown on all the days during the complete quarter ended Dec 31, 2006 and 258 days during the period ended Dec 31, 2006 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:18,  Disposed Off:18 and Pending at the end of the Quarter: Nil.
	7	Audit observations on the accounts 2005-06 and management clarification thereon  stand.
	8	The unaudited results have been 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 ----------, 2007.
	9	The above results have been approved by the Board of Directors at their meeting held on Jan 22,
		2007
							By order of the Board
	Place: Chennai						Sukumar N Oommen
	Date:  22.01.07						Chairman & Managing Director