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Madras Fertilizers Limited

ISIN : INE414A01015
NSE : MADRASFERT
BSE : 532168
Face Value : 10
Industry : Fertilizers

EPS : 0.35
EPS (TTM) : 4.99
Price to Earning (P/E) : 204.86
Book Value : -11.84
Price to Bookvalue (P/B) : -6.06
Dividend Yield : 0 %
Return on Equity (ROE) : %
Return on Capital Employed (ROCE) : 19.34 %

Madras Fertilizers share price (28-Mar-2025)
National Stock Exchange NSE
Open / Close	73 - 71.7 -1.8 %
Low / High	71 - 75.89 6.9 %
Trade Volume	3.06 Lk
52 Week Low / High	0 - 0 NAN %
Bombay Stock Exchange BSE
Open / Close	0 - 0 NAN %
Low / High	0 - 0 NAN %
Trade Volume	0
52 Week Low / High	0 - 0 NAN %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR MADRAS FERTILIZERS LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	7769.7	8130.5	9121	9538.1	7681.3	5286.4	3852.5	5560.5	7584.8	6551.5
Total Income	8031	8147.2	9148.5	9572	7746.3	5325.9	3940.6	5660.3	7800	6638.4
Total Expenditure	6841.5	7100.1	8616.9	8694.3	6838.3	5457.5	3736.8	5426.5	6662.4	5896.8
Other Income	261.3	16.7	27.5	33.9	65	39.5	88.1	99.8	215.2	86.9
Operating Profit	1189.5	1047.1	531.6	877.7	908	-131.6	203.8	233.8	1137.6	741.6
Interest	338.5	190.6	194.2	206.9	190.2	182.4	140.2	157.6	241.9	170.7
Exceptional Items								-563.1	63.2
PBDT	851	856.5	337.4	670.8	717.8	-314	63.6	-486.9	958.9	570.9
Depreciation	-149.4	30	30	30	5.9	30	30.1	30	12.8	30
Profit Before Tax	1000.4	826.5	307.4	640.8	711.9	-344	33.5	-516.9	946.1	540.9
Tax	46.7	196.3	68.2	130.1	238.7				63.1	136.1
Profit After Tax	953.7	630.2	239.2	510.7	473.2	-344	33.5	-516.9	883	404.8
Net Profit	953.7	630.2	239.2	510.7	473.2	-344	33.5	-516.9	883	404.8
Equity Capital	1611	1611	1611	1611	1611	1611	1611	1611	1611	1611
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	5.92	3.91	1.48	3.17	2.94	-2.14	0.21	-3.21	5.48	2.51
Diluted Eps After Extraordinary Items	5.92	3.91	1.48	3.17	2.94	-2.14	0.21	-3.21	5.48	2.51
Diluted Eps Before Extraordinary Items	5.92	3.91	1.48	3.17	2.94	-2.14	0.21	-3.21	5.48	2.51

STANDALONE QUARTERLY RESULT FOR MADRAS FERTILIZERS LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	7769.7	8130.5	9121	9538.1	7681.3	5286.4	3852.5	5560.5	7584.8	6551.5
Total Income	8031	8147.2	9148.5	9572	7746.3	5325.9	3940.6	5660.3	7800	6638.4
Total Expenditure	6841.5	7100.1	8616.9	8694.3	6838.3	5457.5	3736.8	5426.5	6662.4	5896.8
Other Income	261.3	16.7	27.5	33.9	65	39.5	88.1	99.8	215.2	86.9
Operating Profit	1189.5	1047.1	531.6	877.7	908	-131.6	203.8	233.8	1137.6	741.6
Interest	338.5	190.6	194.2	206.9	190.2	182.4	140.2	157.6	241.9	170.7
Exceptional Items								-563.1	63.2
PBDT	851	856.5	337.4	670.8	717.8	-314	63.6	-486.9	958.9	570.9
Depreciation	-149.4	30	30	30	5.9	30	30.1	30	12.8	30
Profit Before Tax	1000.4	826.5	307.4	640.8	711.9	-344	33.5	-516.9	946.1	540.9
Tax	46.7	196.3	68.2	130.1	238.7				63.1	136.1
Profit After Tax	953.7	630.2	239.2	510.7	473.2	-344	33.5	-516.9	883	404.8
Net Profit	953.7	630.2	239.2	510.7	473.2	-344	33.5	-516.9	883	404.8
Equity Capital	1611	1611	1611	1611	1611	1611	1611	1611	1611	1611
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	5.92	3.91	1.48	3.17	2.94	-2.14	0.21	-3.21	5.48	2.51
Diluted Eps After Extraordinary Items	5.92	3.91	1.48	3.17	2.94	-2.14	0.21	-3.21	5.48	2.51
Diluted Eps Before Extraordinary Items	5.92	3.91	1.48	3.17	2.94	-2.14	0.21	-3.21	5.48	2.51

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR MADRAS FERTILIZERS LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	23021.6	34470.9	22284.2
Total Income	23338.7	34614	22726.8
Total Expenditure	20645.8	31249.6	21283.2
Other Income	317.1	143.1	442.6
Operating Profit	2692.9	3364.4	1443.6
Interest	931.1	781.9	722.1
Exceptional Items			-499.9
PBDT	1761.8	2582.5	221.6
Depreciation	94.6	95.9	102.9
Profit Before Tax	1667.2	2486.6	118.7
Tax	46.7	633.3	63.1
Profit After Tax	1620.5	1853.3	55.6
Net Profit	1620.5	1853.3	55.6
Equity Capital	1611	1611	1611
Face Value (IN RS)	10	10	10
Calculated EPS	10.06	11.5	0.35
Diluted Eps After Extraordinary Items	10.06	11.5	0.35
Diluted Eps Before Extraordinary Items	10.06	11.5	0.35

STANDALONE ANNUAL RESULT FOR MADRAS FERTILIZERS LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	23021.6	34470.9	22284.2
Total Income	23338.7	34614	22726.8
Total Expenditure	20645.8	31249.6	21283.2
Other Income	317.1	143.1	442.6
Operating Profit	2692.9	3364.4	1443.6
Interest	931.1	781.9	722.1
Exceptional Items			-499.9
PBDT	1761.8	2582.5	221.6
Depreciation	94.6	95.9	102.9
Profit Before Tax	1667.2	2486.6	118.7
Tax	46.7	633.3	63.1
Profit After Tax	1620.5	1853.3	55.6
Net Profit	1620.5	1853.3	55.6
Equity Capital	1611	1611	1611
Face Value (IN RS)	10	10	10
Calculated EPS	10.06	11.5	0.35
Diluted Eps After Extraordinary Items	10.06	11.5	0.35
Diluted Eps Before Extraordinary Items	10.06	11.5	0.35

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR MADRAS FERTILIZERS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	1532.79 Cr	2302.16 Cr	3447.09 Cr	2228.42 Cr
Sales	381.7 Cr	338.61 Cr	307.79 Cr	243.73 Cr
Net Sales	1532.79 Cr	2302.16 Cr	3447.09 Cr	2228.42 Cr
Increase/Decrease in Stock	-1.08 Cr	-46.17 Cr	48.42 Cr	-34.56 Cr
Raw Material Consumed	921.54 Cr	1511.3 Cr	2495.84 Cr	1659.89 Cr
Opening Raw Materials	67.82 Cr	74.15 Cr	62.54 Cr	42.24 Cr
Purchases Raw Materials	922.63 Cr	1492.46 Cr	2466 Cr	1635.42 Cr
Closing Raw Materials	74.15 Cr	62.54 Cr	42.24 Cr	28.72 Cr
Other Direct Purchases / Brought in cost	5.24 Cr	7.23 Cr	9.54 Cr	10.95 Cr
Power & Fuel Cost	202.12 Cr	241.44 Cr	271.4 Cr	180.53 Cr
Electricity & Power	202.12 Cr	241.44 Cr	271.4 Cr	180.53 Cr
Employee Cost	100.97 Cr	103.35 Cr	105.6 Cr	102.3 Cr
Salaries, Wages & Bonus	74.25 Cr	74.61 Cr	77.19 Cr	73.94 Cr
Contributions to EPF & Pension Funds	16.75 Cr	18.65 Cr	19 Cr	19.9 Cr
Workmen and Staff Welfare Expenses	9.97 Cr	10.09 Cr	9.41 Cr	8.46 Cr
Other Manufacturing Expenses	131.22 Cr	146.76 Cr	143.34 Cr	141.15 Cr
Processing Charges	2.07 Cr	2.4 Cr	1.73 Cr	2.39 Cr
Repairs and Maintenance	31.66 Cr	37.74 Cr	41.38 Cr	50.49 Cr
General and Administration Expenses	14.7 Cr	15.47 Cr	16.41 Cr	34.78 Cr
Rent , Rates & Taxes	2.14 Cr	2.54 Cr	3.54 Cr	18.65 Cr
Insurance	8.63 Cr	8.3 Cr	7.98 Cr	9.04 Cr
Traveling and conveyance	12 Lk	31 Lk	1.01 Cr	1.06 Cr
Selling and Distribution Expenses	23.43 Cr	27.36 Cr	27.49 Cr	28.56 Cr
Advertisement & Sales Promotion	20 Lk	10 Lk	1 Lk	1 Lk
Handling and Clearing Charges	23.23 Cr	27.26 Cr	27.48 Cr	28.55 Cr
Miscellaneous Expenses	5.47 Cr	58.65 Cr	6.14 Cr	12.34 Cr
Loss on disposal of fixed assets(net)	49 Lk	2.54 Cr	0	99 Lk
Loss on foreign exchange fluctuations	0	1.68 Cr	0	0
Total Expenditure	1398.37 Cr	2058.16 Cr	3114.64 Cr	2124.99 Cr
Other Income	7.27 Cr	31.71 Cr	14.31 Cr	44.26 Cr
Interest Received	2.05 Cr	2.2 Cr	6.88 Cr	25.62 Cr
Dividend Received	40 Lk	63 Lk	95 Lk	1.11 Cr
Profit on sale of Fixed Assets	2 Lk	17 Lk	1 Lk	0
Provision Written Back	0	15.91 Cr	22 Lk	11.01 Cr
Operating Profit	141.69 Cr	275.71 Cr	346.76 Cr	147.69 Cr
Interest	107.68 Cr	99.54 Cr	88.51 Cr	75.55 Cr
Interest on Term Loan	76.31 Cr	68.4 Cr	65.97 Cr	57.64 Cr
Intereston Fixed deposits	8.96 Cr	9.6 Cr	7.24 Cr	5.94 Cr
Bank Charges etc	9.2 Cr	6.43 Cr	10.32 Cr	3.34 Cr
PBDT	34.01 Cr	176.17 Cr	258.25 Cr	72.14 Cr
Depreciation	31.14 Cr	9.45 Cr	9.59 Cr	10.29 Cr
Profit Before Taxation & Exceptional Items	2.87 Cr	166.72 Cr	248.66 Cr	61.85 Cr
Exceptional Income / Expenses	0	0	0	-49.99 Cr
Profit Before Tax	2.87 Cr	166.72 Cr	248.66 Cr	11.86 Cr
Provision for Tax	0	4.67 Cr	63.33 Cr	6.3 Cr
Current Income Tax	0	0	58 Cr	5 Cr
Deferred Tax	0	5.23 Cr	1.62 Cr	91 Lk
Profit After Tax	2.87 Cr	162.05 Cr	185.33 Cr	5.56 Cr
Consolidated Net Profit	2.87 Cr	162.05 Cr	185.33 Cr	5.56 Cr
Profit Balance B/F	-1083.58 Cr	-1072.12 Cr	-908.83 Cr	-722.1 Cr
Appropriations	-1080.71 Cr	-910.07 Cr	-723.5 Cr	-716.54 Cr
Other Appropriation	-8.59 Cr	-92 Lk	-1.39 Cr	0
Earnings Per Share	0.18	10.06	11.5	0.35
Adjusted EPS	0.18	10.06	11.5	0.35

STANDALONE PROFIT / LOSS FOR MADRAS FERTILIZERS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	1532.79 Cr	2302.16 Cr	3447.09 Cr	2228.42 Cr
Sales	381.7 Cr	338.61 Cr	307.79 Cr	243.73 Cr
Net Sales	1532.79 Cr	2302.16 Cr	3447.09 Cr	2228.42 Cr
Increase/Decrease in Stock	-1.08 Cr	-46.17 Cr	48.42 Cr	-34.56 Cr
Raw Material Consumed	921.54 Cr	1511.3 Cr	2495.84 Cr	1659.89 Cr
Opening Raw Materials	67.82 Cr	74.15 Cr	62.54 Cr	42.24 Cr
Purchases Raw Materials	922.63 Cr	1492.46 Cr	2466 Cr	1635.42 Cr
Closing Raw Materials	74.15 Cr	62.54 Cr	42.24 Cr	28.72 Cr
Other Direct Purchases / Brought in cost	5.24 Cr	7.23 Cr	9.54 Cr	10.95 Cr
Power & Fuel Cost	202.12 Cr	241.44 Cr	271.4 Cr	180.53 Cr
Electricity & Power	202.12 Cr	241.44 Cr	271.4 Cr	180.53 Cr
Employee Cost	100.97 Cr	103.35 Cr	105.6 Cr	102.3 Cr
Salaries, Wages & Bonus	74.25 Cr	74.61 Cr	77.19 Cr	73.94 Cr
Contributions to EPF & Pension Funds	16.75 Cr	18.65 Cr	19 Cr	19.9 Cr
Workmen and Staff Welfare Expenses	9.97 Cr	10.09 Cr	9.41 Cr	8.46 Cr
Other Manufacturing Expenses	131.22 Cr	146.76 Cr	143.34 Cr	141.15 Cr
Processing Charges	2.07 Cr	2.4 Cr	1.73 Cr	2.39 Cr
Repairs and Maintenance	31.66 Cr	37.74 Cr	41.38 Cr	50.49 Cr
General and Administration Expenses	14.7 Cr	15.47 Cr	16.41 Cr	34.78 Cr
Rent , Rates & Taxes	2.14 Cr	2.54 Cr	3.54 Cr	18.65 Cr
Insurance	8.63 Cr	8.3 Cr	7.98 Cr	9.04 Cr
Traveling and conveyance	12 Lk	31 Lk	1.01 Cr	1.06 Cr
Selling and Distribution Expenses	23.43 Cr	27.36 Cr	27.49 Cr	28.56 Cr
Advertisement & Sales Promotion	20 Lk	10 Lk	1 Lk	1 Lk
Handling and Clearing Charges	23.23 Cr	27.26 Cr	27.48 Cr	28.55 Cr
Miscellaneous Expenses	5.47 Cr	58.65 Cr	6.14 Cr	12.34 Cr
Loss on disposal of fixed assets(net)	49 Lk	2.54 Cr	0	99 Lk
Loss on foreign exchange fluctuations	0	1.68 Cr	0	0
Total Expenditure	1398.37 Cr	2058.16 Cr	3114.64 Cr	2124.99 Cr
Other Income	7.27 Cr	31.71 Cr	14.31 Cr	44.26 Cr
Interest Received	2.05 Cr	2.2 Cr	6.88 Cr	25.62 Cr
Dividend Received	40 Lk	63 Lk	95 Lk	1.11 Cr
Profit on sale of Fixed Assets	2 Lk	17 Lk	1 Lk	0
Provision Written Back	0	15.91 Cr	22 Lk	11.01 Cr
Operating Profit	141.69 Cr	275.71 Cr	346.76 Cr	147.69 Cr
Interest	107.68 Cr	99.54 Cr	88.51 Cr	75.55 Cr
Interest on Term Loan	76.31 Cr	68.4 Cr	65.97 Cr	57.64 Cr
Intereston Fixed deposits	8.96 Cr	9.6 Cr	7.24 Cr	5.94 Cr
Bank Charges etc	9.2 Cr	6.43 Cr	10.32 Cr	3.34 Cr
PBDT	34.01 Cr	176.17 Cr	258.25 Cr	72.14 Cr
Depreciation	31.14 Cr	9.45 Cr	9.59 Cr	10.29 Cr
Profit Before Taxation & Exceptional Items	2.87 Cr	166.72 Cr	248.66 Cr	61.85 Cr
Exceptional Income / Expenses	0	0	0	-49.99 Cr
Profit Before Tax	2.87 Cr	166.72 Cr	248.66 Cr	11.86 Cr
Provision for Tax	0	4.67 Cr	63.33 Cr	6.3 Cr
Current Income Tax	0	0	58 Cr	5 Cr
Deferred Tax	0	5.23 Cr	1.62 Cr	91 Lk
Profit After Tax	2.87 Cr	162.05 Cr	185.33 Cr	5.56 Cr
Consolidated Net Profit	2.87 Cr	162.05 Cr	185.33 Cr	5.56 Cr
Profit Balance B/F	-1083.58 Cr	-1072.12 Cr	-908.83 Cr	-722.1 Cr
Appropriations	-1080.71 Cr	-910.07 Cr	-723.5 Cr	-716.54 Cr
Other Appropriation	-8.59 Cr	-92 Lk	-1.39 Cr	0
Earnings Per Share	0.18	10.06	11.5	0.35
Adjusted EPS	0.18	10.06	11.5	0.35

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR MADRAS FERTILIZERS LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	2.87 Cr	166.72 Cr	248.66 Cr	11.86 Cr
Adjustment	127.11 Cr	127.83 Cr	76.8 Cr	41.05 Cr
Changes In working Capital	360.68 Cr	-612.07 Cr	419.91 Cr	116.34 Cr
Cash Flow after changes in Working Capital	490.66 Cr	-317.52 Cr	745.37 Cr	169.25 Cr
Cash Flow from Operating Activities	490.66 Cr	-316.77 Cr	687.37 Cr	164.23 Cr
Cash Flow from Investing Activities	-16.25 Cr	1.56 Cr	1.81 Cr	-1.1 Cr
Cash Flow from Financing Activitie	-524.48 Cr	265.21 Cr	-320.06 Cr	18.9 Cr
Net Cash Inflow / Outflow	-50.07 Cr	-50 Cr	369.12 Cr	182.03 Cr
Opening Cash & Cash Equivalents	100.08 Cr	50 Cr	0	369.12 Cr
Closing Cash & Cash Equivalent	50.01 Cr	0	369.12 Cr	551.15 Cr

STANDALONE CASH FLOW FOR MADRAS FERTILIZERS LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	2.87 Cr	166.72 Cr	248.66 Cr	11.86 Cr
Adjustment	127.11 Cr	127.83 Cr	76.8 Cr	41.05 Cr
Changes In working Capital	360.68 Cr	-612.07 Cr	419.91 Cr	116.34 Cr
Cash Flow after changes in Working Capital	490.66 Cr	-317.52 Cr	745.37 Cr	169.25 Cr
Cash Flow from Operating Activities	490.66 Cr	-316.77 Cr	687.37 Cr	164.23 Cr
Cash Flow from Investing Activities	-16.25 Cr	1.56 Cr	1.81 Cr	-1.1 Cr
Cash Flow from Financing Activitie	-524.48 Cr	265.21 Cr	-320.06 Cr	18.9 Cr
Net Cash Inflow / Outflow	-50.07 Cr	-50 Cr	369.12 Cr	182.03 Cr
Opening Cash & Cash Equivalents	100.08 Cr	50 Cr	0	369.12 Cr
Closing Cash & Cash Equivalent	50.01 Cr	0	369.12 Cr	551.15 Cr

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR MADRAS FERTILIZERS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	162.14 Cr	162.14 Cr	162.14 Cr	162.14 Cr
Equity - Authorised	175 Cr	175 Cr	175 Cr	175 Cr
Equity - Issued	166 Cr	161.1 Cr	161.1 Cr	161.1 Cr
Equity Paid Up	161.1 Cr	161.1 Cr	161.1 Cr	161.1 Cr
Equity Shares Forfeited	1.04 Cr	1.04 Cr	1.04 Cr	1.04 Cr
Face Value	10	10	10	10
Total Reserves	-857.37 Cr	-667.53 Cr	-449.21 Cr	-351.86 Cr
Securities Premium	12.39 Cr	12.39 Cr	12.39 Cr	12.39 Cr
Profit & Loss Account Balance	-1072.12 Cr	-909.15 Cr	-722.11 Cr	-716.54 Cr
Reserve excluding Revaluation Reserve	-857.37 Cr	-667.53 Cr	-449.21 Cr	-351.86 Cr
Shareholder's Funds	-695.23 Cr	-505.39 Cr	-287.07 Cr	-189.72 Cr
Unsecured Loans	26.3 Cr	8.9 Cr	0	0
Loans - Banks	1.06 Cr	0	0	0
Loans - Govt.	25.24 Cr	8.9 Cr	0	554.24 Cr
Deferred Tax Assets / Liabilities	0	25.17 Cr	81.53 Cr	109.09 Cr
Deferred Tax Assets	0	15.58 Cr	15.32 Cr	16 Cr
Deferred Tax Liability	0	40.75 Cr	96.85 Cr	125.09 Cr
Other Long Term Liabilities	1.37 Cr	71 Lk	52 Lk	40 Lk
Long Term Provisions	40.51 Cr	41.45 Cr	43.16 Cr	46.47 Cr
Total Non-Current Liabilities	68.18 Cr	76.23 Cr	125.21 Cr	155.96 Cr
Trade Payables	291.45 Cr	308.74 Cr	299.16 Cr	283.14 Cr
Sundry Creditors	291.45 Cr	308.74 Cr	299.16 Cr	283.14 Cr
Other Current Liabilities	187.92 Cr	292.57 Cr	213.27 Cr	1592.52 Cr
Advances received from customers	45.72 Cr	20.26 Cr	23.88 Cr	18.41 Cr
Interest Accrued But Not Due	15.55 Cr	15.55 Cr	15.55 Cr	891.12 Cr
Short Term Borrowings	1349.48 Cr	1726 Cr	1494.07 Cr	153.43 Cr
Secured ST Loans repayable on Demands	95.92 Cr	413.19 Cr	118.84 Cr	153.43 Cr
Working Capital Loans- Sec	95.92 Cr	251.99 Cr	118.84 Cr	153.43 Cr
Short Term Provisions	9.2 Cr	12.75 Cr	70.12 Cr	17.16 Cr
Provision for Tax	0	0	58 Cr	5 Cr
Provision for post retirement benefits	41 Lk	40 Lk	15 Lk	13 Lk
Total Current Liabilities	1838.05 Cr	2340.06 Cr	2076.62 Cr	2046.25 Cr
Total Liabilities	1211 Cr	1910.9 Cr	1914.76 Cr	2012.49 Cr
Gross Block	297.12 Cr	338.23 Cr	349.03 Cr	365.09 Cr
Less: Accumulated Depreciation	107.9 Cr	149.09 Cr	158.6 Cr	166.68 Cr
Net Block	189.22 Cr	189.14 Cr	190.43 Cr	198.41 Cr
Capital Work in Progress	17.78 Cr	13.76 Cr	13.4 Cr	21.02 Cr
Non Current Investments	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Long Term Investment	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Unquoted	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Long Term Loans & Advances	24.61 Cr	32.45 Cr	35.94 Cr	41.28 Cr
Other Non Current Assets	17 Lk	0	0	0
Total Non-Current Assets	435.77 Cr	487.07 Cr	578.09 Cr	721.19 Cr
Unquoted	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Inventories	246.67 Cr	283.74 Cr	231.96 Cr	206.25 Cr
Raw Materials	74.15 Cr	62.54 Cr	42.24 Cr	28.72 Cr
Work-in Progress	72.76 Cr	130 Cr	79.47 Cr	76.21 Cr
Finished Goods	23.9 Cr	12.83 Cr	14.94 Cr	8.96 Cr
Packing Materials	1.94 Cr	3.47 Cr	3.41 Cr	6.02 Cr
Stores and Spare	66.03 Cr	70.4 Cr	83.47 Cr	82.33 Cr
Sundry Debtors	293.31 Cr	983.64 Cr	503.61 Cr	321.32 Cr
Debtors more than Six months	0	9.96 Cr	245.87 Cr	94.59 Cr
Debtors Others	297.75 Cr	978.06 Cr	262.12 Cr	230.46 Cr
Cash and Bank	79.79 Cr	31.81 Cr	399.15 Cr	563.55 Cr
Balances at Bank	79.79 Cr	31.81 Cr	399.15 Cr	563.55 Cr
Other Current Assets	130.47 Cr	117.64 Cr	19.3 Cr	186.06 Cr
Interest accrued and or due on loans	0	0	0	11.52 Cr
Prepaid Expenses	14.56 Cr	15.34 Cr	12.68 Cr	14.25 Cr
Short Term Loans and Advances	24.99 Cr	7 Cr	182.65 Cr	14.12 Cr
Advances recoverable in cash or in kind	24.99 Cr	2.91 Cr	2.08 Cr	4.22 Cr
Advance income tax and TDS	0	3.67 Cr	63.54 Cr	9.9 Cr
Total Current Assets	775.23 Cr	1423.83 Cr	1336.67 Cr	1291.3 Cr
Net Current Assets (Including Current Investments)	-1062.82 Cr	-916.23 Cr	-739.95 Cr	-754.95 Cr
Total Assets	1211 Cr	1910.9 Cr	1914.76 Cr	2012.49 Cr
Contingent Liabilities	407.02 Cr	653.67 Cr	531.73 Cr	806.8 Cr
Total Debt	1375.78 Cr	1734.9 Cr	1494.07 Cr	707.67 Cr
Book Value	0	-31.44	-17.88	-11.84
Adjusted Book Value	-43.22	-31.44	-17.88	-11.84

STANDALONE BALANCE SHEET FOR MADRAS FERTILIZERS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	162.14 Cr	162.14 Cr	162.14 Cr	162.14 Cr
Equity - Authorised	175 Cr	175 Cr	175 Cr	175 Cr
Equity - Issued	166 Cr	161.1 Cr	161.1 Cr	161.1 Cr
Equity Paid Up	161.1 Cr	161.1 Cr	161.1 Cr	161.1 Cr
Equity Shares Forfeited	1.04 Cr	1.04 Cr	1.04 Cr	1.04 Cr
Face Value	10	10	10	10
Total Reserves	-857.37 Cr	-667.53 Cr	-449.21 Cr	-351.86 Cr
Securities Premium	12.39 Cr	12.39 Cr	12.39 Cr	12.39 Cr
Profit & Loss Account Balance	-1072.12 Cr	-909.15 Cr	-722.11 Cr	-716.54 Cr
Reserve excluding Revaluation Reserve	-857.37 Cr	-667.53 Cr	-449.21 Cr	-351.86 Cr
Shareholder's Funds	-695.23 Cr	-505.39 Cr	-287.07 Cr	-189.72 Cr
Unsecured Loans	26.3 Cr	8.9 Cr	0	0
Loans - Banks	1.06 Cr	0	0	0
Loans - Govt.	25.24 Cr	8.9 Cr	0	554.24 Cr
Deferred Tax Assets / Liabilities	0	25.17 Cr	81.53 Cr	109.09 Cr
Deferred Tax Assets	0	15.58 Cr	15.32 Cr	16 Cr
Deferred Tax Liability	0	40.75 Cr	96.85 Cr	125.09 Cr
Other Long Term Liabilities	1.37 Cr	71 Lk	52 Lk	40 Lk
Long Term Provisions	40.51 Cr	41.45 Cr	43.16 Cr	46.47 Cr
Total Non-Current Liabilities	68.18 Cr	76.23 Cr	125.21 Cr	155.96 Cr
Trade Payables	291.45 Cr	308.74 Cr	299.16 Cr	283.14 Cr
Sundry Creditors	291.45 Cr	308.74 Cr	299.16 Cr	283.14 Cr
Other Current Liabilities	187.92 Cr	292.57 Cr	213.27 Cr	1592.52 Cr
Advances received from customers	45.72 Cr	20.26 Cr	23.88 Cr	18.41 Cr
Interest Accrued But Not Due	15.55 Cr	15.55 Cr	15.55 Cr	891.12 Cr
Short Term Borrowings	1349.48 Cr	1726 Cr	1494.07 Cr	153.43 Cr
Secured ST Loans repayable on Demands	95.92 Cr	413.19 Cr	118.84 Cr	153.43 Cr
Working Capital Loans- Sec	95.92 Cr	251.99 Cr	118.84 Cr	153.43 Cr
Short Term Provisions	9.2 Cr	12.75 Cr	70.12 Cr	17.16 Cr
Provision for Tax	0	0	58 Cr	5 Cr
Provision for post retirement benefits	41 Lk	40 Lk	15 Lk	13 Lk
Total Current Liabilities	1838.05 Cr	2340.06 Cr	2076.62 Cr	2046.25 Cr
Total Liabilities	1211 Cr	1910.9 Cr	1914.76 Cr	2012.49 Cr
Gross Block	297.12 Cr	338.23 Cr	349.03 Cr	365.09 Cr
Less: Accumulated Depreciation	107.9 Cr	149.09 Cr	158.6 Cr	166.68 Cr
Net Block	189.22 Cr	189.14 Cr	190.43 Cr	198.41 Cr
Capital Work in Progress	17.78 Cr	13.76 Cr	13.4 Cr	21.02 Cr
Non Current Investments	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Long Term Investment	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Unquoted	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Long Term Loans & Advances	24.61 Cr	32.45 Cr	35.94 Cr	41.28 Cr
Other Non Current Assets	17 Lk	0	0	0
Total Non-Current Assets	435.77 Cr	487.07 Cr	578.09 Cr	721.19 Cr
Unquoted	203.99 Cr	250.5 Cr	336.99 Cr	454.77 Cr
Inventories	246.67 Cr	283.74 Cr	231.96 Cr	206.25 Cr
Raw Materials	74.15 Cr	62.54 Cr	42.24 Cr	28.72 Cr
Work-in Progress	72.76 Cr	130 Cr	79.47 Cr	76.21 Cr
Finished Goods	23.9 Cr	12.83 Cr	14.94 Cr	8.96 Cr
Packing Materials	1.94 Cr	3.47 Cr	3.41 Cr	6.02 Cr
Stores and Spare	66.03 Cr	70.4 Cr	83.47 Cr	82.33 Cr
Sundry Debtors	293.31 Cr	983.64 Cr	503.61 Cr	321.32 Cr
Debtors more than Six months	0	9.96 Cr	245.87 Cr	94.59 Cr
Debtors Others	297.75 Cr	978.06 Cr	262.12 Cr	230.46 Cr
Cash and Bank	79.79 Cr	31.81 Cr	399.15 Cr	563.55 Cr
Balances at Bank	79.79 Cr	31.81 Cr	399.15 Cr	563.55 Cr
Other Current Assets	130.47 Cr	117.64 Cr	19.3 Cr	186.06 Cr
Interest accrued and or due on loans	0	0	0	11.52 Cr
Prepaid Expenses	14.56 Cr	15.34 Cr	12.68 Cr	14.25 Cr
Short Term Loans and Advances	24.99 Cr	7 Cr	182.65 Cr	14.12 Cr
Advances recoverable in cash or in kind	24.99 Cr	2.91 Cr	2.08 Cr	4.22 Cr
Advance income tax and TDS	0	3.67 Cr	63.54 Cr	9.9 Cr
Total Current Assets	775.23 Cr	1423.83 Cr	1336.67 Cr	1291.3 Cr
Net Current Assets (Including Current Investments)	-1062.82 Cr	-916.23 Cr	-739.95 Cr	-754.95 Cr
Total Assets	1211 Cr	1910.9 Cr	1914.76 Cr	2012.49 Cr
Contingent Liabilities	407.02 Cr	653.67 Cr	531.73 Cr	806.8 Cr
Total Debt	1375.78 Cr	1734.9 Cr	1494.07 Cr	707.67 Cr
Book Value	0	-31.44	-17.88	-11.84
Adjusted Book Value	-43.22	-31.44	-17.88	-11.84

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR MADRAS FERTILIZERS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	0.18	10.06	11.5	0.35
CEPS(Rs)	2.11	10.65	12.1	0.98
Book NAV/Share(Rs)	-43.22	-31.44	-17.88	-11.84
Tax Rate(%)	0	2.8	25.47	53.12
Margin Ratios
Core EBITDA Margin(%)	8.77	10.6	9.64	4.64
EBIT Margin(%)	7.21	11.57	9.78	3.92
Pre Tax Margin(%)	0.19	7.24	7.21	0.53
PAT Margin (%)	0.19	7.04	5.38	0.25
Cash Profit Margin (%)	2.22	7.45	5.65	0.71
Performance Ratios
ROA(%)	0.22	10.45	9.69	0.28
ROCE(%)	12.62	27.88	27.68	19.34
Asset Turnover(x)	1.17	1.48	1.8	1.13
Sales/Fixed Asset(x)	4.96	6.9	10.03	6.24
Working Capital/Sales(x)	-1.44	-2.51	-4.66	-2.95
Efficiency Ratios
Fixed Capital/Sales(x)	0.2	0.14	0.1	0.16
Receivable days	97.04	99.65	78.74	67.56
Inventory Days	57.88	42.05	27.3	35.89
Payable days	80.88	74.3	43.6	64.1
Valuation Parameters
PER(x)	141.98	4.93	5.01	234.6
PCE(x)	11.98	4.65	4.77	82.29
Price/Book(x)	-0.59	-1.58	-3.22	-6.84
EV/Net Sales(x)	1.11	1.09	0.59	0.65
EV/Core EBITDA(x)	12.02	9.07	5.84	9.81
EV/EBIT(x)	15.41	9.39	6	16.57
EV/CE(x)	1.41	1.31	1.06	2.8
M Cap / Sales	0.27	0.35	0.27	0.59
Growth Ratio
Net Sales Growth(%)	18.64	50.19	49.73	-35.35
Core EBITDA Growth(%)	1227.93	94.59	25.94	-57.41
EBIT Growth(%)	628.95	140.85	26.81	-74.08
PAT Growth(%)	102.29	5546.34	14.14	-97
EPS Growth(%)	102.29	5546.34	14.14	-97
Financial Stability Ratios
Total Debt/Equity(x)	-1.98	-3.43	-5.2	-3.73
Current Ratio(x)	0.42	0.61	0.64	0.63
Quick Ratio(x)	0.29	0.49	0.53	0.53
Interest Cover(x)	1.03	2.67	3.81	1.16
Total Debt/Mcap(x)	3.38	2.17	1.61	0.54

FINANCIAL RATIOS (STANDALONE) FOR MADRAS FERTILIZERS LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	0.18	10.06	11.5	0.35
CEPS(Rs)	2.11	10.65	12.1	0.98
Book NAV/Share(Rs)	-43.22	-31.44	-17.88	-11.84
Tax Rate(%)	0	2.8	25.47	53.12
Margin Ratios
Core EBITDA Margin(%)	8.77	10.6	9.64	4.64
EBIT Margin(%)	7.21	11.57	9.78	3.92
Pre Tax Margin(%)	0.19	7.24	7.21	0.53
PAT Margin (%)	0.19	7.04	5.38	0.25
Cash Profit Margin (%)	2.22	7.45	5.65	0.71
Performance Ratios
ROA(%)	0.22	10.45	9.69	0.28
ROCE(%)	12.62	27.88	27.68	19.34
Asset Turnover(x)	1.17	1.48	1.8	1.13
Sales/Fixed Asset(x)	4.96	6.9	10.03	6.24
Working Capital/Sales(x)	-1.44	-2.51	-4.66	-2.95
Efficiency Ratios
Fixed Capital/Sales(x)	0.2	0.14	0.1	0.16
Receivable days	97.04	99.65	78.74	67.56
Inventory Days	57.88	42.05	27.3	35.89
Payable days	80.88	74.3	43.6	64.1
Valuation Parameters
PER(x)	141.98	4.93	5.01	234.6
PCE(x)	11.98	4.65	4.77	82.29
Price/Book(x)	-0.59	-1.58	-3.22	-6.84
EV/Net Sales(x)	1.11	1.09	0.59	0.65
EV/Core EBITDA(x)	12.02	9.07	5.84	9.81
EV/EBIT(x)	15.41	9.39	6	16.57
EV/CE(x)	1.41	1.31	1.06	2.8
M Cap / Sales	0.27	0.35	0.27	0.59
Growth Ratio
Net Sales Growth(%)	18.64	50.19	49.73	-35.35
Core EBITDA Growth(%)	1227.93	94.59	25.94	-57.41
EBIT Growth(%)	628.95	140.85	26.81	-74.08
PAT Growth(%)	102.29	5546.34	14.14	-97
EPS Growth(%)	102.29	5546.34	14.14	-97
Financial Stability Ratios
Total Debt/Equity(x)	-1.98	-3.43	-5.2	-3.73
Current Ratio(x)	0.42	0.61	0.64	0.63
Quick Ratio(x)	0.29	0.49	0.53	0.53
Interest Cover(x)	1.03	2.67	3.81	1.16
Total Debt/Mcap(x)	3.38	2.17	1.61	0.54

SHARE HOLDING PATTERN FOR MADRAS FERTILIZERS LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	59.50	59.50	59.50	59.50	59.50	59.50	59.50	59.50	59.50	59.50
FII %	0.12	0.00	0.15	0.00	0.00	0.00	0.00	0.13	0.00	0.00
DII %	0.00	0.00	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public %	14.59	14.71	14.54	14.71	14.71	14.71	14.71	14.58	14.70	14.71

PEER COMPARISON FOR MADRAS FERTILIZERS LIMITED

No.	Name
1	Chambal Fertilizers & Chemicals Limited
2	Deepak Fertilizers and Petrochemicals Corporation Limited
3	Gujarat Narmada Valley Fertilizers and Chemicals Limited
4	Gujarat State Fertilizers & Chemicals Limited
5	Coromandel International Limited
6	Khaitan Chemicals & Fertilizers Limited
7	KOTHARI INDUSTRIAL CORPORATION LTD
8	National Fertilizers Limited
9	Rama Phosphates Limited
10	Rashtriya Chemicals and Fertilizers Limited
11	Mangalore Chemicals & Fertilizers Limited
12	Fertilizers and Chemicals Travancore Limited
13	Southern Petrochemicals Industries Corporation Limited
14	Aries Agro Limited
15	Madras Fertilizers Limited
16	Madhya Bharat Agro Products Limited
17	Nagarjuna Fertilizers and Chemicals Limited
18	Zuari Agro Chemicals Limited
19	Agro Phos India Limited
20	Krishana Phoschem Limited

CORPORATE ACTIONS FOR MADRAS FERTILIZERS

Exchange Date	Purpose	Book Closure Dates
BSE 18-Sep-2024	Book Closure - A.G.M.	20-Sep-2024 25-Sep-2024
BSE 18-Sep-2024	AGM - A.G.M.	25-Sep-2024 25-Sep-2024
BSE 15-Sep-2023	Book Closure - A.G.M.	19-Sep-2023 25-Sep-2023
BSE 15-Sep-2023	AGM - A.G.M.	25-Sep-2023 25-Sep-2023
BSE 12-Sep-2022	Book Closure - A.G.M.	15-Sep-2022 21-Sep-2022
BSE 12-Sep-2022	AGM - A.G.M.	21-Sep-2022 21-Sep-2022
BSE 21-Sep-2021	Book Closure - A.G.M.	24-Sep-2021 30-Sep-2021
BSE 21-Sep-2021	AGM - A.G.M.	30-Sep-2021 30-Sep-2021

CORPORATE ANNOUNCEMENTS FOR MADRAS FERTILIZERS

Exchange Date	Category File	Description
BSE 13-Apr-2023	General -	Clarification sought from Madras Fertilizers Ltd The Exchange has sought clarification from Madras Fertilizers Ltd on April 13 2023 with reference to Movement in Volume.The reply is awaited.