a.  There has been no movement in the Issued, Subscribed and Paid -up
 capital of the Company.
 
 b.  Terms/Rights attached to equity shares
 
 The Company has only one class of equity share having a par value of
 Rs.10 per share. Each holder of equity shares is entitled to one vote per
 share and entitled to dividends approved by shareholders.
 
 In the event of liquidation of the company, the holders of equity share
 will be entitled to receive remaining assets of the company, after
 distribution to creditors and all preferential amounts. The
 distribution will be in proportion to the number of equity shares held
 by each shareholder
 
 a.  9.42% Secured Redeemable Non-Convertible Bonds of Rs.10,00,000/- each
 issued with five years tenor redeemable at par in three installments at
 the end of third year from issue date of 15th September, 2011 (30% at
 end of 3rd year, 30% at the end of 4th year and balance 40% at end of
 5th year). These bonds are secured by mortgage/charge on land and
 building of Company located at Corporate office at Noida.
 
 b.  Rupee loan from scheduled banks, with total sanctioned amount of
 Rs.3850 crore for Ammonia Feedstock Conversion Projects is secured by
 first charge ranking pari-passu inter-se on entire fixed assets,
 movable and immovable (present & future) related to Nangal, Bathinda &
 Panipat units and second charge over the entire current assets and
 subsidy (excluding reimbursement related to energy savings and interest
 expenses) of the Company. Repayment of sanctioned term loan would fall
 due for Rs.770 crore in FY 2013-14, Rs.770 crore in FY 2014-15, Rs.770 crore
 in FY 2015-16, Rs.770 crore in FY 2016-17 and Rs.770 crore in FY 2017-18.
 The rate of interest on the term loan is linked to the SBI base rate
 and during the year varied between 9.75%-11.50% p.a.
 
 c.  Foreign currency External Commercial Borrowing (ECB) loan from
 Schedule Banks, with total sanctioned limit of USD 50 million has been
 used for energy saving and urea capacity augmentation projects at
 Vijaipur and is secured by first pari-passu charge on all fixed assets,
 movable and immovable (both present and future) related to Vijaipur and
 second pari-passu charge on the current assets (both present and
 future) and subsidy of the company. The rate of interest is 6 months
 USD LIBOR plus margin of 3.05% p.a. and upfront arrangement fee of
 1.58% of facility. Repayment of ECB loan would fall due for Rs.6.12 crore
 in FY 2014-15, Rs.14.09 crore in FY 2015- 16, Rs.14.10 crore in FY 2016-17,
 Rs.09 crore in FY 2017-18, Rs.14.10 crore in FY 2018-19 and Rs.14.95 crore
 in FY 2019-20.
 
 d.  Foreign currency loans - Buyers Credit from scheduled Banks, total
 drawn amount of USD 15.68 million for energy saving and urea capacity
 augmentation projects at Vijaipur. The rate of interest is 6 months
 LIBOR plus margin of 2.00% p.a. for Buyer Credit of USD 9.89 million
 and 6 months USD LIBOR plus margin of 1.50%p.a. and upfront fee of 1.1%
 p.a. for Buyer''s credit of USD 5.79 million. Repayment of Buyer''s
 credit would fall due for Rs.47.05 crore in FY 2013-14, Rs.31.45 crore in
 FY 2014-15 and Rs.2.46 crore in FY 2015-16.
 
 a.  Title/Lease Deed for land acquired at Nangal (Rs.0.93 crore),
 Vijaipur (Rs.4.36 crore), Bathinda (Rs.0.15 crore), Building at Scope
 Complex, New Delhi (Rs.2.07 crore) and Land/Building at Bhopal (Rs.0.38
 crore) are pending execution.
 
 b.  325.70 acres of land at Nangal (Rs. 0.01 crore) had been symbolically
 possessed by the Punjab Government on 29.10.1998 without determination
 of consideration. Though the ownership of the entire land including
 325.70 acres vests with the Company, however, the physical possession
 of 325.70 acres of land is with its erstwhile owners.
 
 c.  Consequent upon the implementation of Feed Stock changeover
 Projects and its expected completion during 2012-2013, depreciation on
 plant & machinery expected to be replaced has been charged over the
 reduced residual life and accordingly during the year, in respect of
 plant & machinery, depreciation provided is higher by Rs.0.82 crore
 (previous year Rs.0.84 crore) in the accounts.
 
 a.  Capital work-in-progress includes amount ofRs.2161.52 crore incurred
 upto 31st March, 2012 relating to feedstock conversion projects from
 fuel oil to natural gas at Panipat, Nangal and Bathinda units. In terms
 of Government policy notified on 6th March, 2009, the Company is
 entitled to capital subsidy after successful commissioning of the
 projects over a period of 5 years, which shall be appropriately
 accounted for in terms of the policy.
 
 b.  * Addition to capital work in progress under the head Expenditure
 during construction period includes Rs.3.37 crore (previous year Rs.Nil) on
 account of foreign exchange fluctuation on longterm loan relating to
 acquisition of Fixed Assets pursuant to the Company exercising the
 option under Clause 46 A (i) of AS-11 to treat Foreign Currency Loans
 as Long Term Foreign Currency monetary items under the Notification
 number (G.S.R. 914(E) dated 29th December, 2011) issued by the Ministry
 of Corporate affairs relating to Accounting Standard 11.
 
 * Includes amount due from Directors - Rs. 23000/- (Previous year Rs. NIL)
 
 # Includes an advance of Rs.130.69 crore (US$ 37.62 million) given to a
 foreign supplier M/s. Karsan during the year 1995-96 against import of
 Urea, the supplies of which were not received and subsequently the
 contract was terminated. Pending litigation, the amount has been fully
 provided for in the earlier years from the revenue reserve and surplus.
 
 The outstanding advance (net of recovery) of Rs.129.64 crore is shown in
 the Accounts under Loans and Advances Recoverable with
 corresponding adjustment in revenue reserve. Adjustment, if any, shall
 be made on settlement of the litigation.
 
                                                      Rs. Crore
 
                                                As at       As at
                                              31st March
                                              2012        31st March 
                                                          2011
 
 1. CONTINGENT LIABILITIES
 
 Claims against the Company not 
 acknowledged as debts a Pending 
 Appellate/Judicial decisions:
 
 Income tax                                    269.00         201.31
 
 Purchase tax                                   59.23          59.23
 
 Excise, customs and service tax                 6.04           7.37
 
 VAT                                             0.14              - 
 
 Land compensation / development claims          3.86          13.69
 
 Arbitration and civil cases                    37.77          29.23
 
 b.  Other claims                                1.20           1.18
 
 c.  Claims in respect of legal cases filed 
 against the company for labour and other
 matters, amount whereof is not 
 ascertainable 
 
                                               377.24         312.01
 
 Note:
 
 1.  The company has funded the gratuity liability through a separate
 Gratuity Fund. The fair value of the plan assets is mainly based on the
 information given by the insurance companies through whom the
 investment have been made by the fund. Gratuity liability of Rs. 7.72
 crore is unfunded as on 31st March, 2012.
 
 2.  The defined benefit obligations, other than gratuity are unfunded.
 
 3.1.1 Other Employee Benefit Schemes:
 
 Provision of Rs.1.44 crore (Previous year Rs.3.07 crore) towards
 Employees'' Family Economic Rehabilitation Scheme and Social Security
 Benefits scheme has been made on the basis of actuarial valuation and
 charged to the Statement of Profit & Loss. A net liability of Rs.13.09
 crore has been recognized in the Balance Sheet as at 31st March 2012 on
 account of these schemes.
 
 3.1.2 Provident Fund: 12% of Basic Pay plus Dearness allowance
 contributed to the Provident Trust of the Company. The Company does not
 anticipate any further obligation in the near foreseeable future having
 regard to the amount of the fund and return on investment as confirmed
 by the actuary.
 
 3.2 AS-17: SEGMENT REPORTING
 
 3.2.1 Business Segments:
 
 Company''s primary business segments are ''area'' & ''Other Products''
 (which include Industrial Products and Bio Fertilizers, traded goods
 which have got similar risk and return profiles) and are reportable
 segments under Accounting Standard-17 on ''Segment Reporting'' issued
 by the Institute of Chartered Accountants of India.
 
 3.2.2 Geographical Segment:
 
 The operations of the company are conducted within India and there is
 no separate reportable geographical segment
 
 C) Transactions with Related parties:
 
 (I) There is no transaction with related party at A) above except
 investment of Rs. Nil crore towards its paid-up capital during the year
 (previous year Rs.0.03 crore). Against total investment of Rs.0.18 crore as
 on 31st March, 2012, provision of Rs. 0.15 crore has been made in the
 Accounts on account of diminution in value of investments).
 
 (ii) Remuneration to Key Management Personnel at B) above is Rs.0.86
 crore (Previous year Rs.0.77 crore) which does not include remuneration
 to Key Management Personnel at (i) and (ii) above who have been given
 additional charge of the Company by GOI.
 
 3.3 AS-19: LEASES
 
 3.3.1 Assets taken on Operating lease:
 
 The Company''s significant leasing arrangements are in respect of
 operating leases of premises for offices, godowns, residential use of
 employees and vehicles. These leasing arrangements are usually
 renewable on mutually agreed terms but are not non-cancellable. Note:
 26 Employee benefit expense remuneration and benefits include Rs.0.19
 crore (Previous year Rs.0.26 crore) towards lease payments, net of
 recoveries, in respect of premises for residential use of employees.
 Lease payments in respect of premises for offices, godowns and
 vehicles, Rs.3.32 crore (Previous year Rs.3.62 crore) are shown in Note:
 31-Other expenses.
 
 3.4 AS-27: FINANCIAL REPORTING OF INTERESTS IN JOINT VENTURES
 
 3.4.1 The disclosure of Company''s interest in Joint Venture entity in
 terms of Accounting Standard-27 issued by the Institute of Chartered
 Accountants of India is as under:
 
 (i) Name of the Joint Venture entity: ''UrvarakVidesh Limited''
 
 (ii) Co-Joint Venture companies: Krishak Bharti Co-operative Ltd. and
 Rashtriya Chemicals & Fertilizers Ltd. as equal partners.
 
 (iii) Company has an investment of Rs.0.18 crore towards paid up equity
 capital representing one third share.
 
 (iv) The Company''s share of ownership interest assets, liabilities,
 income, expenses, contingent liabilities and capital commitment in the
 Joint Venture Company, incorporated in India, are given below:
 
 3.5 AS-28: IMPAIRMENT OF ASSETS
 
 In accordance with Accounting Standard (AS)-28, the carrying amount of
 fixed assets have been reviewed at year-end for indication of
 impairment loss, if any, by considering assets of entire one plant as
 Cash Generating Unit. As there is no indication of impairment, no loss
 has been recognized during the year.
 
 3.6 In terms of notification No. G.S.R 914(E) dated 29th December, 2011
 relating to AS 11 issued by Ministry of Corporate affairs and
 consequent upon exercising of option by the company to treat long term
 foreign currency loan as long term foreign currency monetary items as
 per Clause 46A (i) of AS-11, an amount of Rs.3.37 crore has been included
 in the CWIP and profit are higher by Rs.3.37 crore due to change in
 accounting policy.
 
 4 REMITTANCE IN FOREIGN CURRENCIES FOR DIVIDENDS
 
 The Company has not remitted any amount in foreign currencies on
 account of dividend during the year and does not have information as to
 the extent to which remittances, if any, in foreign currencies on
 account of dividends have been made by/on behalf of non-resident
 shareholders. The particulars of dividend for the year 2010-11 paid in
 current year on account of non-resident shareholders in Indian rupees
 are as under:
 
 Note:
 
 The Chairman & Managing Director and Functional Directors are allowed
 the use of company''s car for private purposes upto 1000 km per month
 and recoveries wherever required are made as per Government guidelines.
 
 5 AS PER REQUIREMENTS OFTHE LISTING AGREEMENTS WITH THE STOCK
 EXCHANGES,THE REQUISITE DETAILS OF LOANS AND ADVANCES IN THE NATURE OF
 LOANS GIVEN BYTHE COMPANY ARE AS UNDER:
 
 (I) There are no loans and advances in the nature of loans to any
 subsidiary.
 
 (ii) No loans have been given (other than loans to employees), wherein
 there is no repayment schedule or repayment is beyond seven years; and
 
 (iii) There are no loans and advances in the nature of loans to
 firms/companies in which Directors are interested.
 
 6 Debit/Credit balances of some of the parties are in the process of
 confirmation/ reconciliation.
 
 7 Figures of previous year have been re-arranged / regrouped /
 re-cast, wherever necessary and to comply with the requirement of
 revised Schedule VI of the Companies Act.