DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED

Unaudited Financial Results for the quarter & Nine months ended 31^st December, 2001

Sr. No.		Particulars	Quarter Ended 31.12.2001 (Unaudited)	Quarter Ended 31.12.2000 (Unaudited)	Nine months Ended 31.12.2001 (Unaudited)	Nine months Ended 31.12.2000 (Unaudited)	Previous Accounting Year Ended 31.03.2001 (Audited)
1.		Net Sales	10,505.53	10,859.56	38,031.96	35,820.81	47,303.10
2.		Other Income	469.42	233.35	1,216.51	644.61	1,695.70
			10,974.95	11,092.91	39,248.47	36,465.42	48,998.80
3.		Total Expenditure
	a)	Decrease / (Increase) in Stock in Trade	246.71	1,008.75	1,242.90	(76.28)	(2,334.54)
	b)	Consumption of Raw Materials	4,023.72	3,116.46	12,078.31	9,506.18	13,859.55
	c)	Staff Cost	757.43	709.80	2,289.94	2,131.67	2,864.77
	d)	Traded Goods Purchases	1,635.19	609.26	8,705.17	8,047.32	11,251.22
	e)	Other Expenditure	1,955.42	2,324.02	7,154.39	7,809.10	8,658.16
			8,618.47	7,768.29	31,470.71	27,417.99	34,299.16
4.		Interest	470.33	740.62	1,669.39	2,326.92	2,856.34
5.		Depreciation	739.55	678.71	2,211.73	1,883.44	2,757.80
6.		Extraordinary items	172.87	-	172.87	-	(637.05)
7.		Profit before Tax (1+2-3-4-5+6)	1,319.47	1,905.29	4,069.51	4,837.07	8,448.45
8.		Provision for taxation	365.00	20.00	1,130.00	750.00	2,178.00
9.		Net Profit (7-8)	954.47	1,885.29	2,939.51	4,087.07	6,270.45
10.		Paid-up Equity Share Capital (Face Value Rs.10/- each)	7,470.49	7,470.49	7,470.49	7,470.49	7,470.49
11.		Reserves excluding revaluation reserves (as per Balance Sheet of previous accounting year).	-	-	-	-	30,323.04
12.		Basic and diluted EPS (Rs.)	1.28*	2.52*	3.93*	5.47*	8.39
13.		Aggregate of Non - Promoter Shareholding
		- Number of Shares	53,719,356	53,730,356	53,719,356	53,730,356	53,723,781
		- Percentage of Shareholding	73.38	73.40	73.38	73.40	73.39

1. Net Sales include trading operations of Rs 2,255.04 lacs for the quarter ended 31st December,2001 (Rs. 2,089.23 lacs in the corresponding period of the previous year).

2. The Government of India is yet to notify final subsidy on fertiliser for the current year and hence the amount of subsidy is accounted on an estimated basis.

3. The restricted supply of natural gas has resulted in lower production of Methanol and Ammonia. To keep up fertiliser production , the Company had to resort to purchase of Ammonia at significantly higher price affecting profitability.With further temporary drop in gas supply, the Methanol plant is currently not in operation.

4. Extraordinary items represent the net amount received from overseas insurer as per US Court Order in respect of DAP claim after taking into account interest received thereon and related expenses.

5. Accounting Standard (AS)-22 "Accounting for Taxes on Income " issued by the Institute of Chartered Accountants of India has come into effect from 1st April, 2001.The provision for taxation amounting to Rs 1,130 lacs for nine month period ended 31st December,2001 includes deferred tax liability (net) of Rs 75 lacs. The Corresponding figures for nine month period ended 31st December, 2000 has not been recast as the accumulated deferred tax liability (net) will be charged to revenue reserve as on 31st March, 2002 as per the said AS - 22.

The above Unaudited Financial Results were considered and taken on record by the Board of Directors at its meeting held on 21st January, 2002.

For Deepak Fertilisers And Petrochemicals Corp.Ltd.
DEEPAK C. MEHTA
Managing Director
Place : Mumbai
Date : 21st January, 2002