Audited Financial Results for Year ended 31st March, 2004

Sr.	Particulars	Nine Months ended 31.12.2003 (Unaudited)	Quarter Ended		Year Ended
Sr.	Particulars	Nine Months ended 31.12.2003 (Unaudited)	31.03.2004 (Unaudited)	31.03.2003 (Unaudited)	31.03.2004 (Audited)	31.03.2004 (Audited)	Consolidated 31.03.2004 (Audited)
1	Sales	36,989	15,049	15,012	52,038	57,431	53,856
	Less: Excise	3,294	1,605	1,470	4,899	5,174	5,157
2	a) Other Income -Segment Related	486	35	250	521	394	521
	b) Unallocated	1,219	751	307	1,970	1,946	2,033
	sub-total other income	1,705	786	557	2,491	2,340	2,554
	Total Revenue	35,400	14,230	14,099	49,630	54,597	51,253
3	Expenditure
a)	Decrease/(Increase) in Stock in Trade	(268)	593	1,885	325	2,493	332
b)	Consumption of Raw Materials	12,159	4,338	3,325	16,497	14,879	17,501
c)	Staff Cost	2,760	895	1,180	3,655	3,753	3,734
d)	Traded Goods Purchases	4,819	1,141	1,162	5,960	9,868	5,960
e)	Other Expenditure	5,939	2,487	1,331	8,426	9,047	8,677
	Total Expenditure	25,409	9,454	8,883	34,863	40,040	36,204
4	Interest	1,074	371	500	1,445	1,687	1,485
5	Depreciation	2,273	685	790	2,958	3,069	2,997
6	Extraordinary items	623	-	(147)	623	(147)	623
7	Profit before Tax (1+2-3-4-5-6)	6,021	3,720	4,073	9,741	9,948	9,944
8	Provision for taxation
a)	Current Tax	2,450	976	1,569	3,426	4,231	3,506
b)	Deferred Tax	(431)	(226)	(484)	(657)	(694)	(676)
	Total	2,019	750	1,085	2,769	3,537	2,830
9	Net Profit (7-8)	4,002	2,970	2,988	6,972	6,411	7,114
10	Paid-up Equity Share Capital (Face Value of Rs.10/- each)	7,470	8,820	7,470	8,820	7,470	8,820
11	Reserves excluding revaluation reserves	-	-	-	38,463	30,898	38,604
12	Basic and diluted EPS (Rs.)	5.36*	3.70*	4.00*	9.06	8.58	9.24
13	Aggregate of Non - Promoter Shareholding
	- Number of Shares	52,608,141	52,809,918	53,385,356	52,809,918	53,385,356	52,809,918
	- Percentage of Shareholding	71.86	59.87	72.93	59.87	72.93	59.87

1. Extraordinary items include (a) incremental depreciation of Rs. 890 lacs related to earlier years on Dilute Nitric Acid Plant (Third Stream) due to change in the policy of providing depreciation from Straight Line basis to Written Down Value basis and (b) other non-recurring items of Rs.267 lacs.

2. The availability of main raw material, namely Natural Gas, during the year under review was lower by 15% as compared to the previous year, severely affecting the production.

3. The Board of Directors has recommended dividend of 22% (previous year 22%) on Equity Shares of the Company for year ended 31st March, 2004.

4. During the year under review 1,50,00,000 Equity Shares were made fully paid-up resulting in an increase in the paid-up Capital and reserves of the Company.

5. There was no investor complaint pending at the beginning of the quarter. The Company, during the quarter, received seven investor complaints and all of them have been resolved.

6. Previous Year's figures have been regrouped wherever necessary to conform to current year's figures.

7. The Consolidated Financial Statements are prepared in accordance with the principles and procedures as set out in the Accounting Standard 21 issued by the Insititute of Chartered Accountants of India.

Consolidated financial results for the corresponding period of the previous year ended 31st March, 2003 have not been given as the Company did not have any subsidiary during that period.

8. The above audited financial results were considered and taken on record by the Board of Directors at its meeting held on 20th May, 2004.

For Deepak Fertilisers And Petrochemicals Corporation Ltd.
S. C. Mehta
Managing Director
Place : Mumbai
20^th May 2004