Integrated Filing — IndAS



General information about company
Scrip Code 000000
NSE Symbol MADRASFERT
MSEI Symbol NOTLISTED
ISIN INE414A01015
Name of company MADRAS FERTILIZERS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 28-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Manufacturing of Chemical Fertilizers
Start date and time of board meeting 28-May-2025   12:00:00
End date and time of board meeting 28-May-2025   16:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2022-09-29
Indicate Company website link for updated RPT policy of the Company www.madrasfert.co.in
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
No Default



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Unaudited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 5547600000 25418500000
Other income 162500000 439600000
Total income 5710100000 25858100000
2 Expenses
(a) Cost of materials consumed 4141000000 13876400000
(b) Purchases of stock-in-trade 41900000 150700000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -643300000 43200000
(d) Employee benefit expense 229400000 1272300000
(e) Finance costs 159400000 631400000
(f) Depreciation, depletion and amortisation expense 35500000 116300000
(f) Other Expenses
1 Operating and Maintenance Expenses 2158800000 8446700000
2 Other Expenses 230900000 405100000
Total other expenses 2389700000 8851800000
Total expenses 6353600000 24942100000
3 Total profit before exceptional items and tax -643500000 916000000
4 Exceptional items 0 0
5 Total profit before tax -643500000 916000000
6 Tax expense
7 Current tax -171700000 220900000
8 Deferred tax 52600000 52600000
9 Total tax expenses -119100000 273500000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -524400000 642500000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -524400000 642500000
17 Other comprehensive income net of taxes -42100000 931700000
18 Total Comprehensive Income for the period -566500000 1574200000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 1611000000 1611000000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve -1944400000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -3.26 3.99
Diluted earnings (loss) per share from continuing operations -3.26 3.99
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -3.26 3.99
Diluted earnings (loss) per share from continuing and discontinued operations -3.26 3.99
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) 1.The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 28 May 2025. The results for the quarter and the year ended 31st March 2025 have been audited by the Statutory Auditors. The above financial results are drawn in accordance with the accounting policies consistently followed by the Company. n2.Urea Plant was shut-down for 4 hrs due to Reactor A and HPCO2 Compressor Maintenance jobs. NPK Plant was shut-down for the quarter due to Man power shortage. n3.Fertilizer manufacture is the only main business segment and trading operations are less than 10% of the total revenue. Further, the Company is engaged in providing and selling its products in single economic environment in India i.e. there is a single geographical segment. Hence, there is no requirement of segment reporting for the Company as per Ind AS 108 (Segment Reporting). n4.As per Regulation 33 (3) E of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 the figures of the quarter ended March 31, 2025 and March 31, 2025 are the balance figures in respect of the full financial year and the unaudited published year-to-date figures up to the third quarter ended December 31, 2024 and December 31, 2023 respectively. n5.The reconciliation of ITC as reflected in the books of accounts and with relevant statutory records under GST regulations has been completed for all the FYs ending up to Mar 31,2024. nThe provision of Rs 50.54 Cr has been considered in the accounts for the difference between the Input tax Credit as per books and Electronic Credit Ledger as per GST portal as on 31.03.2025. The above sum includes an amount of Rs 37.57 Cr, being the provision held as on 31.03.2024 and company had made an additional provision of Rs 12.97 Cr made during the FY 2024-25 towards the above difference. n6.Subsidy under New Pricing Scheme (NPS) for Urea na)Approval awaited for extension of existing energy norm: MFL vide letter No. CMD/Govt/612/2024 dated June 12,2024 and CMD/Govt/457/2025 dated April 22, 2025 requested Govt. of India to extend the existing energy norm of 8.337 Gcal/MT of Urea till energy reduction measures are implemented. Pending the approval for the above request, as a prudent measure, the Company has accounted the subsidy after considering the maximum penalty of 10% from the existing energy norm of 8.337 Gcal/MT w.e.f 18/07/2024. The said penalty of Rs.155.61 Cr has been considered as deduction in subsidy income for the financial year. nb)Subsidy accounting on policy parameters vis-à-vis provisionally approved rates: nSubsidy on Urea Sales for FY 2024-25 has been recognized at Rs.2110.30 Cr in accordance with the policy parameters prescribed by Fertilizer Industry Coordination Committee (FICC) for escalation claim whereas subsidy for escalation claims provisionally approved by FICC amounts to Rs.2270.85 Cr, the difference being an amount of Rs.160.55 crores. The above sum has been netted against Trade Receivables included under Current Assets. The effect for the difference in the subsidy accounted will be considered as and when the final notification is received based on the escalation / de-escalation of claims for FY 2024-25 to be submitted by the Company. n7.As per the report of the technical committee formed for the purpose of identification of obsolete stores and spares, 1197 items with a value of Rs.1.08 crores has been determined as obsolete and necessary provision is made in the accounts for the said amount. n8.Change in Accounting Policy on valuation of Inventories nFollowing the implementation of SAP accounting software, the Company has opted to change its accounting policy on valuation of raw materials, packing materials and traded goods from FIFO to Weighted Average Cost from current year onwards. This change aligns the Company’s accounting policy with the general industry practice, thereby enhancing the comparability of the entity’s financial statements with those of other market participants within the industry. nThe Company’s previous accounting software – OLIS – did not have the provision to determine the valuation of closing stock of raw materials, packing materials and traded goods on weighted average method. Therefore, it is impracticable to determine the period-specific effects of change in accounting policy on comparative information for one or more prior periods, including opening stock of said items. nHowever, the closing stock of raw materials, packing materials and traded goods are computed on FIFO method, manually and the impact is disclosed below: nParticulars Rs. Cr. nValue of closing stock of raw materials, packing materials and traded goods on weighted average cost 40.67 nValue of closing stock of raw materials, packing materials and traded goods on FIFO 39.91 nImpact on the Profit and Loss statement 0.76 nThe profit for the current year is higher by Rs.0.76 cr on account of change in the accounting policy for valuation of raw materials, packing materials and traded goods from FIFO to weighted average cost. n9.The figures for the previous periods have been re-grouped, wherever necessary, so as to conform to the current period’s classification



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 1992400000
Capital work-in-progress 198000000
Investment property 13100000
Goodwill 0
Other intangible assets 63700000
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 5248700000
Trade receivables, non-current 0
Loans, non-current 4100000
Other non-current financial assets 28900000
Total non-current financial assets 5281700000
Deferred tax assets (net) 0
Other non-current assets 200900000
Total non-current assets 7749800000
2 Current assets
Inventories 2096000000
Current financial asset
Current investments 0
Trade receivables, current 3829300000
Cash and cash equivalents 6521400000
Bank balance other than cash and cash equivalents 139300000
Loans, current 101800000
Other current financial assets 150000000
Total current financial assets 10741800000
Current tax assets (net) 212100000
Other current assets 1533800000
Total current assets 14583700000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 22333500000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1621400000
Other equity -1944400000
Total equity attributable to owners of parent -323000000
Non controlling interest
Total equity -323000000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities 0
Total non-current financial liabilities 0
Provisions, non-current 0
Deferred tax liabilities (net) 865700000
Deferred government grants, Non-current
Other non-current liabilities 413500000
Total non-current liabilities 1279200000
Current liabilities
Current financial liabilities
Borrowings, current 15943100000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 3842100000
Total Trade payable 3842100000
Other current financial liabilities 975800000
Total current financial liabilities 20761000000
Other current liabilities 616300000
Provisions, current 0
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 21377300000
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 22656500000
Total equity and liabilites 22333500000
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block
Textual Information(1) 1. Other Non Current Liabilities inlcude the folllwing: nEmployee Benefit Obligations - Rs.4135 (lakhs) n n2. Other Current Liabilities include the following: nEmployee Benefit Obligations - Rs.1512 (lakhs) nOther Current Liabilities - Rs.4651 (lakhs) n n



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Unaudited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Unaudited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
1 Other comprehensive income [Abstract] -47000000 653900000
2 Tax(expenses) / benefit on above 4900000 277800000
Total Amount of items that will be reclassified to profit and loss -42100000 931700000
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income -42100000 931700000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 916000000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 631400000
Adjustments for decrease (increase) in inventories -44300000
Adjustments for decrease (increase) in trade receivables, current -616200000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 0
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 43000000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 1010700000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -162100000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 116300000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current -68600000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 11900000
Adjustments for interest income 362300000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow -18100000
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 112400000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 630300000
Net cash flows from (used in) operations 1546300000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 384000000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 1162300000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 98400000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 11900000
Interest received 362300000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -15600000
Net cash flows from (used in) investing activities 260200000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings -435100000
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 0
Interest paid 85600000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -520700000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 901800000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 901800000
Cash and cash equivalents cash flow statement at beginning of period 5619600000
Cash and cash equivalents cash flow statement at end of period 6521400000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 CHANDRAN & RAMAN Yes 30-Apr-2027


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 MADRAS FERTILIZERS LIMITED MANOJ KUMAR JAIN CHAIRMAN AND MANAGING DIRECTOR - W.E.F 07.06.2024 Remuneration Not appliable, approved by Department of Fertilizers 4487000 0 0
2 MADRAS FERTILIZERS LIMITED A MADHAN MOHAN GENERAL MANAGER - FINANCE & ACCOUNTS/CHIEF FINANCIAL OFFICER - W.E.F 01-07-2024 Remuneration Not appliable, approved by Department of Fertilizers 6902000 0 0
3 MADRAS FERTILIZERS LIMITED J SRINIVASA SARAVANAN COMPANY SECRETARY Remuneration Not appliable, approved by Department of Fertilizers 1614000 0 0
4 MADRAS FERTILIZERS LIMITED SANJAY SHETYA INDEPENDENT DIRECTOR Any other transaction Sitting Fees Not applicable, sitting fees 236000 0 0
5 MADRAS FERTILIZERS LIMITED MFL EMPLOYEES CONTRIBUTORY PF TRUST TRUSTEE Any other transaction EMPLOYEES PF CONTRIBUTION TO MFL EMPLOYEES CONTRIBUTORY PF TRUST NA 555000 0 0
6 MADRAS FERTILIZERS LIMITED VENKATARAO NALABOTHU INDEPENDENT DIRECTOR Any other transaction Sitting Fees Not applicable, sitting fees 148000 0 0
7 MADRAS FERTILIZERS LIMITED JAYANTHI RAGHUNATHAN CHAKRAVARTHI INDEPENDENT DIRECTOR Any other transaction Sitting Fees Not applicable, sitting fees 236000 0 0
8 MADRAS FERTILIZERS LIMITED JATIN KUMAR MOHANTY INDEPENDENT DIRECTOR Any other transaction Sitting Fees Not applicable, sitting fees 325000 0 0
Total value of transaction during the reporting period 14503000