MADRAS FERTILIZERS LIMITED
		Distribution of Shareholding
		as on 31.12.2003
Category		No. of Shares	% of
		held	shareholding
A) Promoters Holdings
1) Promoters
Indian Promoter		95851700	59.50
Foreign Promoter		41516500	25.77
2) Persons acting in concert		Nil	Nil
Sub Total		137368200	85.27
B) Non-Promoters Holdings
3) Institutional Investors
a) Mutual Funds and UTI		3400	0.00
b) Banks, Financial Institutions		1712331	1.06
Insurance Companies (Central /
State Govt. Institutions / Non-
Govt. Institutions
c) Foreign Institutional Investors		Nil	Nil
Sub Total		1715731	1.06
4) Others
a) Private Corporate Bodies		4380428	2.72
b) Indian Public		16893190	10.49
c) NRI/OCBs		23333	0.01
d) Other than specified above		720418	0.45
(Clearing Member)
Sub Total		22017369	13.67
Grand Total		161101300	100.00
Paid-up Shares		161101300	100.00
1) Persons holding more than 1% of the Shares of the Company
Name	Category	Shares	% of Shares
The President of India	Indian Promoter	95851700	59.50
Naftiran Inter Trade Company Ltd.	Foreign Promoter	41516500	25.77
(Affiliate of National Iranian Oil Co.)
Total		137368200	85.27
2) Total Foreign Shareholding in number of shares and percentage
Particulars		Shares	% of Shares
Foreign Promoters, FII, NRI / OCB		41539833	25.78
(including ADR/GDR holding)