MADRASFERT2022-07-012022-09-30MADRASFERT2022-09-30MADRASFERT2022-03-31MADRASFERT2022-04-012022-09-30MADRASFERT2022-07-012022-09-30in-bse-fin:OtherExpenses1MemberMADRASFERT2022-07-012022-09-30in-bse-fin:OtherExpenses2MemberMADRASFERT2022-04-012022-09-30in-bse-fin:OtherExpenses1MemberMADRASFERT2022-04-012022-09-30in-bse-fin:OtherExpenses2MemberMADRASFERT2022-07-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1MADRASFERT2022-04-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:sharesMADRASFERTINE414A01015MADRAS FERTILIZERS LIMITEDEquity2022-04-012023-03-312022-11-072022-10-19INRLakhsHalf yearlySingle segmentManufacturing of Fertilizers2022-11-0712:00:002022-11-0715:05:00trueCash Flow IndirectNot applicable2022-07-012022-09-30UnauditedStandalone9121000000275000009148500000674410000041400000465800000238200000194200000300000001127400000884110000030740000003074000006820000006820000002392000000000239200000666400000905600000001611000000101.481.48001.481.48<div> <br></br>
<div>Notes: <br></br> <br></br>1 The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 07th November 2022. The results for the Quarter and Half year ended 30th September 2022 have been subjected to Limited Review by the Statutory Auditors. </div> <br></br>
<div>2 Financial results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013.The interim financial results are prepared and presented in accordance with the significant accounting policies and methods as adopted in the audited financial statements for the year ended 31st March, 2022.</div> <br></br>
<div>3 The revenue from operations includes a sum of Rs.1544.16 crores, being the subsidy income for Neem coated urea and Rs.39.96 crores towards freight subsidy: </div> <br></br>
<div>a. The said sum includes subsidy income of Rs.1344.77 crores, being the subsidy calculated based on provisional rates duly notified by GOI for the period 01.04.2022 to 30.09.2022.</div> <br></br>
<div>b. Further, the said subsidy also includes Rs.199.39 crores, (Rs.19939 lacs) representing claim towards escalation in input prices which has been considered by the Company in accordance with the policy parameters in this regard. The realisation of the above sum of Rs.199.39 (Rs.19939 lacs) crores is subject to approval from GOI under new pricing scheme. </div> <br></br>
<div>c. Freight subsidy of Rs.39.96 crores, considered under Revenue from Operations includes a sum of Rs.15.06 crores relating to freight subsidy of earlier accounting years for which notification was received during the half year-ending September 30, 2022.</div> <br></br>
<div>4 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).</div> <br></br>
<div>5 The Company has defaulted in the repayment of principal of Rs.545.35 crores and interest of Rs.793.69 crores in respect of loans availed from GoI. The proposal of restructuring the said loan with GOI is under progress.</div> <br></br>
<div>6 The Company has recognised the current tax provision of Rs.26.45 crores for the half year ending September 30, 2022 in accordance with Sec.115BAA of the Income Tax Act,1961.</div> <br></br>
<div>7 The provision for liability towards gratuity, post-retirement benefits, leave encashment and depreciation has been made on an estimated basis.</div> <br></br>
<div>8 Other comprehensive income of Rs.31.97 crores, consists of gains on fair value changes of unquoted equity shares in Indian Potash Ltd held by the Company of Rs.86.30 crores net of tax effect on the same of Rs.54.33 crores. The fair value of the unquoted equity shares has been estimated at net book value model based on the audited consolidated financial statements of the said company for the FY 2021-22.</div> <br></br>
<div>9 For the half year ending September 30, 2022, the company has recognised deferred tax expense of Rs.54.33 crores, relating to other comprehensive income as mentioned in para 10 above. The said sum includes Rs.34.67 crores, being the tax effect pertaining to previous financial year. Deferred tax in respect of other timing differences, as applicable, will be considered at the year-end.</div> <br></br>
<div>10 The reconciliation of the difference of Rs.65.53 (Rs.6553 lacs) crores between the balance of input tax credit as per books of accounts and balances as reflected in Electronic Credit ledger maintained in GST portal is under progress. The Company holds a provision of Rs.46.56 crores as a prudent measure for the said difference.</div> <br></br>
<div>11 Shutdown of Plant operations during the quarter ending 30th September 2022:</div> <br></br>
<div>a. Ammonia Plant was shut down for 7 days during this Quarter due to Annual Statutory Boiler Inpsection(110ATA & PCB) and Urea Reactor A (Top Lid) leak.<br></br>b. Urea Plant was shut down for 5 days during this quarter due to Reactor H151A outlet line leak and Ammonia Plant Shutdown for Annual Statutory Boiler Inpsection.<br></br>c. Complex Fertilizer Plants were not in line during this quarter due to problem in procurement of Raw Material. </div> <br></br>
<div>12 The figures for the previous periods have been re-grouped, wherever necessary, so as to conform to the current periods classification.<br></br></div></div>2022-04-012022-09-30UnauditedStandalone17251500000442000001729570000012409500000611000004179000004945000003848000006000000023340000001616180000011339000000113390000026450000002645000000869400000000086940000031970000011891000000016111000000105.45.4005.45.4Operating and Maintenance Expenses1058800000Other Expenses68600000Operating and Maintenance Expenses2222200000Other Expenses1118000001832100000148400000122000000660000033680000000165100000172000000370510000000570440000024998000000989320000002350000000273000000104012000004980000011936000001414440000000198488000001621400000-5486200000-3864800000-386480000089000000070000089700000364500000795100000064000001255700000159345000003762500000-5000001969650000010488000001274000001585200000022457900000002371360000019848800000384700000337500000-56800000-17500000-18460000000006751000000-2810000000600000000-264600000-500000000000000000006028000001736700000000001736700000000000000450000000000000000000000000-10900000-1540000000000000-15984000000011100000011180000000-172130000000000Items that will not be reclassified to profit or loss863000000863000000Items that will not be reclassified to profit or loss86300000086300000000196600000543300000