DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED


Sr. No		Particulars	Quarter ended 31.03.2002 (Unaudited)	Quarter ended 31.03.2001 (Unaudited	Year ended 31.03.2002 (Audited)	Year ended 31.03.2001 (Audited)
1.		Net Sales	11,363	11,482	49,395	47,303
2	a)	Other Income -Segment Related	354		787
	b)	-Unallocated	262		1,045
		sub total other income	616	1,051	1,832	1,696
		Total Revenue	11,979	12,533	51,227	48,999
3.		Expenditure
	a)	Decrease / (Increase) in Stock in Trade	(118)	(2,258)	1,125	(2,335)
	b)	Consumption of Raw Materials	3,750	4,353	15,828	13,860
	c)	Staff Cost	807	733	3,097	2,865
	d)	Traded Goods Purchases	1,324	3,204	10,029	11,251
	e)	Other Expenditure	2,326	849	9,481	8,658
		Total Expenditure	8,089	6,881	39,560	34,299
4.		Interest	455	529	2,124	2,856
5.		Depreciation	664	874	2,876	2,758
6.		Extraordinary items	236	637	63	637
7.		Profit before Tax (1+2-3-4-5-6)	2,535	3,612	6,604	8,449
8.	a)	Provision for Current Tax	543	1,428	1,598	2,178
	b)	Provision for Deferred Tax	67	-	142	-
9.		Net Profit (7-8)	1,925	2,184	4,864	6,271
10.		Paid-up Equity Share Capital (Face Value of Rs.10/- each)	7,470	7,470	7,470	7,470
11.		Reserves excluding revaluation reserves				30,323
12.		Basic and diluted EPS (Rs.)	2.59*	2.92*	6.51	8.39
13.		Aggregate of Non - Promoter Shareholding
		- Number of Shares	53,413,356	53,723,781	53,413,356	53,723,781
		- Percentage of Shareholding	72.96	73.39	72.96	73.39

1. Net Sales include trading operations of Rs.14,211 Lacs for the year ended 31st March, 2002 ( Rs 12,428 lacs in the corresponding period of 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 the existing methodology linked with indegenous DAP subsidy.

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.

4. Extra-ordinary items for quarter ended 31st March,2002 represent (a) Provision of Rs 174 lacs towards write - down in the value of equipments of shelved portion of Co2 project and (b) provision for taxation of Rs 62 lacs on the net amount realised from the overseas insurer in respect of DAP claim of Rs 173 lacs which was accounted in the quarter ended 31st December,2001. Taking into consideration all the above, net extra-ordinary items for the year ended 31st March,2002 amounted to Rs 63 lacs.

5. Accounting Standard (AS)- 22 " Accounting for Tax on Income " issued by the Institute of Chartered Accountants of India has come into effect from 1st April, 2001.Consequently cumulative net deferred tax liability in respect of timing difference as on 31st March, 2001 of Rs. 7306 lacs has been charged to retained earnings during the year, as prescribed under AS-22.

6. The Board of Directors has recommended a dividend of 20 % (Previous year : 25 %) on the Equity Shares of the Company for the year ended 31st March, 2002 amounting to Rs 1,495 lacs (Previous year : Rs 2058 lacs including dividend tax)

The above audited Financial Results were considered and taken on record by the Board of Directors at its meeting held on 15th June 2002.

For Deepak Fertilisers And Petrochemicals Corporation Ltd.
Deepak C. Mehta
Managing Director
Place : Mumbai
Date : 15 th June,2002