DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED

Unaudited Financial Results for quarter & half year ended 30th September, 2002.


Sr. No.	Particulars	Quarter Ended 30.09.2002 (Unaudited)	Quarter Ended 30.09.2001 (Unaudited)	Half year Ended 30.09.2002 (Unaudited)	Half year Ended 30.09.2001 (Unaudited)	Year Ended 31.03.2002 (Audited)
1.	Gross sales	13,970	16,307	28,147	29,494	53,097
	Less: Excise	1,106	1,047	2,217	1,968	3,702
	Net Sales	12,864	15,260	25,930	27,526	49,395
2.	a) Other Income -Segment Related	15		139	208	787
	b) Unallocated	970		1,223	539	1,045
	Sub total other income	985	417	1,362	747	1,832
	Total Revenue	13,849	15,677	27,292	28,273	51,227
3.	Expenditure
	a) Decrease/ (Increase) in Stock in Trade	488	4,487	4	996	1,125
	b) Consumption of Raw Materials	3,802	3,639	8,027	8,054	15,828
	c) Staff Cost	887	789	1,774	1,533	3,097
	d) Traded Goods Purchases	2,493	1,288	6,442	7,070	10,029
	e) Other Expenditure	3,342	2,715	5,463	5,199	9,481
	Total Expenditure	11,012	12,918	21,710	22,852	39,560
4.	Interest	419	599	809	1,199	2,124
5.	Depreciation	684	737	1,376	1,472	2,876
6.	Extraordinary items	-			-	63
7.	Profit before Tax (1+2-3-4-5-6)	1,734	1,423	3,397	2,750	6,604
8.	Provision for Taxation
	a) Current Tax	939		1,619	590	1,598
	b) Deferred Tax	(83)		(152)	175	142
	Total	856	373	1,467	765	1,740
9.	Net Profit (7-8)	878	1,050	1,930	1,985	4,864
10.	Paid-up Equity Share Capital	7,470	7,470	7,470	7,470	7,470
	(Face Value of Rs.10/- each)
11.	Reserves excluding revaluation					26,367
	reserves
12.	Basic and diluted EPS (Rs.)	1.18 *	1.40 *	2.58 *	2.66 *	6.51
13.	Aggregate of Non - Promoter Shareholding
	- Number of Shares	53,413,356	53,719,356	53,413,356	53,719,356	53,413,356
	- Percentage of Shareholding	72.96	73.38	72.96	73.38	72.96

1. Net Sales include trading operations of Rs. 2988 lacs for quarter ended 30th September, 2002 (Rs. 6640 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 based on provisional figures.

3. Provision towards contingencies of Rs. 500 lacs has been made in respect of certain claims and costs which are in the process of being settled, and will be reviewed at the time of closing of the annual accounts.

4. The plant operations require catalyst replacement and shutdown maintenance/overhaul at periodic intervals spread over more than one financial year. Until last year, expenditure thereon was recognised on actuals. However, based on past experience, such costs are now reckoned on pro-rata on fair estimation, resulting in incremental charge of Rs.250 lacs for six months ended September, 2002.

5. Other income includes Rs. 533 lacs received under an agreement for settlement and release of the insurer towards legal costs. Other expenditure includes, correspondingly, the like amount representing actual payment of costs and estimated provision therefor.

The above Unaudited Financial Results were considered and taken on record by the Board of Directors at its meeting held on 14th October, 2002.

For Deepak Fertilisers And Petrochemicals Corp. Ltd.
Deepak C. Mehta
Managing Director
Mumbai