MADRASFERT2026-01-012026-03-31MADRASFERT2026-03-31MADRASFERT2025-03-31MADRASFERT2025-04-012026-03-31MADRASFERT2026-01-012026-03-31in-capmkt:OtherExpenses1MemberMADRASFERT2026-01-012026-03-31in-capmkt:OtherExpenses2MemberMADRASFERT2025-04-012026-03-31in-capmkt:OtherExpenses1MemberMADRASFERT2025-04-012026-03-31in-capmkt:OtherExpenses2MemberMADRASFERT2026-03-31OtherNoncurrentFinancialAssetsDomain1MADRASFERT2026-03-31OtherNoncurrentAssetsDomain1MADRASFERT2026-03-31OtherNoncurrentAssetsDomain2MADRASFERT2026-03-31OtherCurrentFinancialAssetsDomain1MADRASFERT2026-03-31OtherCurrentAssetsDomain1MADRASFERT2026-03-31OtherNoncurrentLiabilitiesDomain1MADRASFERT2026-03-31OtherCurrentFinancialLiabilitiesDomain1MADRASFERT2026-03-31OtherCurrentLiabilitiesDomain1MADRASFERT2026-03-31OtherCurrentLiabilitiesDomain2MADRASFERT2026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1MADRASFERT2025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain1MADRASFERT2025-12-31RelatedPartyTransactionDomain1MADRASFERT2026-03-31RelatedPartyTransactionDomain1MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain2MADRASFERT2025-12-31RelatedPartyTransactionDomain2MADRASFERT2026-03-31RelatedPartyTransactionDomain2MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain3MADRASFERT2025-12-31RelatedPartyTransactionDomain3MADRASFERT2026-03-31RelatedPartyTransactionDomain3MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain4MADRASFERT2025-12-31RelatedPartyTransactionDomain4MADRASFERT2026-03-31RelatedPartyTransactionDomain4MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain5MADRASFERT2025-12-31RelatedPartyTransactionDomain5MADRASFERT2026-03-31RelatedPartyTransactionDomain5MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain6MADRASFERT2025-12-31RelatedPartyTransactionDomain6MADRASFERT2026-03-31RelatedPartyTransactionDomain6MADRASFERT2026-01-012026-03-31RelatedPartyTransactionDomain7MADRASFERT2025-12-31RelatedPartyTransactionDomain7MADRASFERT2026-03-31RelatedPartyTransactionDomain7MADRASFERT2026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares000000MADRASFERTNOTLISTEDINE414A01015MADRAS FERTILIZERS LIMITEDMain BoardEquity2025-04-012026-03-312026-05-122026-05-06INRLakhsQuarterlyFourth quarterSingle segmentManufacturing of Chemical Fertilizers2026-05-1212:30:002026-05-1214:45:00trueCash Flow IndirectDeclaration of unmodified opiniontruetrueNANAfalsetrue2022-09-29www.madrasfert.co.infalsefalseNo Default2026-01-012026-03-31AuditedStandalone699210000013440000071265000003909200000517000001593000002691000001476000003600000022446000006817500000309000000-8380000022520000035400000-1910000016300000020890000000002089000004385000006474000001611000000101.331.33001.331.33Notes to the Audited Financial Results for the Quarter and Year ended March 31, 2026 <BR> 1.The Financial Results have been prepared in accordance with the applicable Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant Rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'). The Financial Results for the quarter and year ended March 31, 2026 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the company in their respective meetings held on May 12, 2026. The statutory auditors of the Company have expressed an unmodified opinion on the financial results for the year ended March 31, 2026. <BR> 2.During the quarter ending March 31, 2026, there was a shut-down of plants as detailed hereunder: <BR> Plant Number of days Reason <BR> Ammonia Plant 0.17 To attend a few Minor issues. <BR> Urea Plant 2.25 To attend a few Minor issues. <BR> Complex Fertilizer Plants Entire quarter Safety issues and Manpower shortage. <BR> 3.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). <BR> 4.The revenue from operations of Rs. 2,30,035 Lakhs for the year ended March 31, 2026 includes the following: <BR> a.Rs. 1,83,478 Lakhs towards subsidy for Neem coated Urea and <BR> b.Rs. 7,157 Lakhs for freight subsidy. <BR> The subsidy eligible for Neem-coated urea has been arrived at by the Company in accordance with policy parameters framed by the Govt. of India (GOI). The rate adopted by the Company for accounting the subsidy claim amounted to Rs. 38,360 per MT. The said rate is subject to variation upon final determination of rates by GOI under new pricing scheme. The impact on the variation of subsidy rate will be given effect to in the accounts as and when the same is communicated by GOI. <BR> 5.During the quarter ended March 31, 2026, subsidy for Neem coated urea and freight subsidy include financial implications due to final tariff notifications issued during the current reporting quarter for the period pertaining to FY 2023-24 in respect of subsidy for neem coated urea and for FYs 2021-22, 2022-23 and 2023-24 in respect of freight subsidy. Due to the final tariff notifications, current year subsidy for neem coated urea includes a reversal of Rs. 4873 lakhs and subsidy for freight is higher by Rs. 1730 lakhs on account of giving effect to such notifications. <BR> 6.The Company has defaulted in the repayment of principal and interest thereon on the loans taken from GOI. Further, the Company has placed a request to the Department of Fertilizers (DOF), Government of India (GOI), seeking waiver of accrued interest and penal interest on loans extended by the GOI, along with conversion of the principal loan amount into borrowings repayable over a period at zero percent interest, as part of the proposed revival package. The DOF has communicated to the Company that, in light of the new Public Sector Enterprise (PSE) policy under Atmanirbhar Bharat, the requested financial revival proposal has been temporarily placed on hold. The Company has been advised to submit a fresh proposal. <BR> Subsequent to this communication, the Company has reiterated to the DOF, with detailed reasoning, that the benefits envisaged under the earlier revival package would remain unchanged. Pending receipt of approval, the Company has continued to recognise interest costs on the loans obtained from the GOI, and no repayments have been effected during the quarter and year ended March 31, 2026. As per the terms of sanction, GOI reserves right to levy penal interest at the rate of 2.75% in case of default in repayment. As no communication in this regard has been received from the Government, as on date, the penal interest of Rs. 44,333/- lakhs (PY -Rs. 39,468/- lakhs) is reported as contingent liability. <BR> 7.Subsidy under New Pricing Scheme (NPS for Urea) -Approval awaited for extension of existing energy norm: <BR> MFL vide letter No.CMD/Govt/612/2024 dated June 12, 2024 and CMD/Govt/457/2025 dated April 22, 2025 requested Government 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 for 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. 1,148 lakhs and Rs. 16,425 Lakhs on an estimated basis, has been considered as a deduction in subsidy income for the quarter and year ended March 31, 2026 respectively. <BR> 8.Slow/non-moving inventory of Stores & spares aggregating to Rs. 3,064 lakhs as at the year-end, are valued based on technical appraisal made by the Technical Committee (Plant Group) on serviceability and good condition of said inventories on which we have placed reliance. Further, raw materials held by the Company for manufacturing NPK as at the year end is Rs. 2,789 lakhs. According to the Management, the NPK production has been under suspension since December 2022, and the materials are of stable/natural characteristics and are not prone to significant degradation under normal storage conditions. The technical condition of the materials is being periodically assessed by an experienced inhouse team. The feasibility of utilization in the event of resumption of production, as well as disposal/alternative use, has been examined and is under consideration for value realization, and at present, no material loss of value is envisaged. <BR> 9.In the absence of the requisite number of independent directors and women director, the composition of Board of Directors as required in terms of provisions of Section 149 of the Act and Regulation 17 read with Schedule II of the Listing Regulations as such have not been complied with. The Company is yet to fulfil the requirements leading to penalties imposed by the stock exchange which has been reported as part of contingent liabilities, since the appointment of independent directors is beyond the control of the Company, and the Company has requested the Department of Fertilizers to appoint such directors. <BR> Further, the Financial Results for the quarter and year ended March 31, 2026 have been approved on 12th May 2026 by the Board of Directors of the Company on the recommendation of the Audit Committee of the Company, being reconstituted without having the requisite number of independent directors as required in terms of the Listing Regulations, since the term gets completed for two of the Company’s independent directors on 16th April 2026. <BR> 10.Exceptional items for the quarter and the year ended March 31, 2026 include recognition of the enhanced gratuity cost along with interest of RS. 236 lakhs (Previous Periods RS. Nil/-) based on the Order passed by the Honourable High Court of Madras during the year against the suit filed by certain retired employees who have retired from 01.01.2007 to 23.05.2010. Further, the exceptional items for the quarter and the year ended March 31, 2026 include the service cost of RS. 602 lakhs (Previous Periods RS. Nil/-) in respect of the change in the gratuity plan by increasing the benefits limit to RS. 25 lakhs from RS. 20 lakhs consequent to the Pay Revision Order passed during the year. <BR> 11.The Statutory Auditors of “Madras Fertilizers Limited Employees Contributory Provident Fund” (MFLECPF) have issued a modified opinion in respect of the financial statements of MFLECPF for the year ended March 31, 2025 in respect of a matter concerning realisability of overdue investments in certain debt instruments of two companies which are currently under CIRP/resolution process. A sum of RS. 633 lakhs including interest accrued of RS. 85 lakhs are overdue for more than three years. However, as the companies in question are still under CIRP, the exact amount of the deficiency which shall be made good by MFL cannot be accurately assessed or provided for at this time. Consequently, this fact has been reported as a contingent liability. <BR> 12.On 21st November 2025, Government of India notified four Labour Codes viz. collectively referred to as "the Labour Codes" by subsuming 29 legislations relating thereto. The Rules relating to said Labour Codes are yet to be notified. Based on the broad assessment carried by the management, the Company continues to comply with the major provisions and any consequential impact arising therefrom will be assessed and appropriately accounted upon such notification. <BR> 13.The figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between audited figures in respect of the full financial year and the limited reviewed year to date figures up to the quarters ended December 31, 2025 and December 31, 2024 respectively. <BR> 14.Balances in trade receivables, advance from customers, deposits from dealers, GAIL Pool A/c and trade payables are subject to confirmation and reconciliation. In the opinion of the management, adjustments, if any, will not have a material impact. <BR> 15.Previous period figures have been regrouped /reclassified and re-presented, wherever necessary to conform to current period's classification. Rebates given to the customers for timely payment were netted off against the revenue, which previously were reported as part of finance cost. Interest accrued on borrowings from GOI shown as part of borrowings, statutory dues shown as part of financial liabilities, security deposits shown as other current assets and Income Tax Refunds shown as part of financial assets have been reclassified to other financial liabilities, other liabilities, other financial assets and tax assets, respectively. Security deposits received shown under trade payable, have now been shown under other financial liabilities. Cash and cash equivalents as at March 31, 2026 and March 31, 2025 include only fixed deposits (excluding interest accrued) having an original maturity life of not more than three months. <BR> By order of the Board <BR> <BR> <BR> Date : 12th May, 2026 Manoj Kumar Jain <BR> Place : Chennai Chairman & Managing Director <BR> <BR> <BR> 2025-04-012026-03-31AuditedStandalone23003500000732000000237355000001233120000015930000040930000011125000005885000001354000007892400000226286000001106900000-83800000102310000020120000017700000218900000080420000000008042000004385000001242700000161100000010-7017000004.994.99004.994.99Operating and Maintenance Expenses2130000000Other Expenses114600000Operating and Maintenance Expenses7572900000Other Expenses3195000002092500000268100000130000000569000000005746500000018200000208300000597300000003120000084347000001671500000047234000001419100000514010000026100000141100000114498000001047000001660900000148869000003900000233255000001621400000-701700000919700000919700000000000960400000494000000145440000063424000002421000002925100000316720000010733000000202426000007088000000209514000002240580000023325500000Other financial assets208300000Tax assets (net)26100000Other assets5100000Other financial assets141100000Other assets1660900000Employee benefit Obligations494000000Other financial liabilities10733000000Other liabilities637300000Employee benefit Obligations71500000588500000398400000-8936000000-158000000000-57320000005500000001354000000185000000000317000005462000000000-60900000-271000000-952700000704000000001750000005290000000000000016660000000000000000000000317000005199000000-75800000309200000000000000299200000004260000000-3418000002030000002030000013988000001419100000Items that will not be reclassified to profit or loss515500000515500000Items that will not be reclassified to profit or loss515500000515500000770000007700000000438500000438500000MADRAS FERTILIZERS LIMITED******MANOJ KUMAR JAIN******CHAIRMAN AND MANAGING DIRECTORRemunerationNot appliable, approved by Department of Fertilizers315700000MADRAS FERTILIZERS LIMITED******A MADHAN MOHAN******GENERAL MANAGER - FINANCE & ACCOUNTS - CHIEF FINANCIAL OFFICERRemunerationNot appliable, approved by Department of Fertilizers331700000MADRAS FERTILIZERS LIMITED******J SRINIVASA SARAVANAN******COMPANY SECRETARYRemunerationNot appliable, approved by Department of Fertilizers132800000MADRAS FERTILIZERS LIMITED******SANJAY VISHNU SHETYE******INDEPENDENT DIRECTORAny other transactionSitting feesNot applicable, sitting fees22500000MADRAS FERTILIZERS LIMITED******JATIN KUMAR MOHANTY******INDEPENDENT DIRECTORAny other transactionSitting feesNot applicable, sitting fees20000000MADRAS FERTILIZERS LIMITED******ALOK KUMAR******INDEPENDENT DIRECTORAny other transactionSitting feesNot applicable, sitting fees22500000MADRAS FERTILIZERS LIMITED******MFL EMPLOYEES CONTRIBUTORY PF TRUST******TRUSTEEAny other transactionEMPLOYEES PF CONTRIBUTION TO MFL EMPLOYEES CONTRIBUTORY PF TRUSTNA124410000020893000AuditedtrueSundar Srini & Sridhartrue2027-06-30