Status of Investor Complaints for the quarter ended March 31, 2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 57

Complaints disposed off during the quarter 57

Complaints unresolved at the end of the quarter Nil

1. The increase in Sales is mostly on account of increased subsidies a following global increases in Input commodity prices. The were thruput increases also in the Traded Fertilizers and Agri Inputs activities. Other operating income includes income from Fertilizer Companies Government of India Bonds received in lieu of subsidies due.

2. Pending announcement of final monthly concession rates for complex fertilizers the month of March, 2009 the Company has accounted for the difference between the interim on account payment and estimated final concession based on the notified policy parameters in this regard. As per practice consistently followed accounting effect of final notification of prices / mechanism is done at the time of receipt of the relevant notification.

3. Subsidy for Urea has been accounted based on Stage III parameters of the New Pricing Scheme and other adjustments as estimated in accordance with known policy parameters in this regard.

4. The Company is primarily engaged in the business of manufacture and trading in fertilizers which is the single segment as per Accounting Standard (AS) 17 issued by the Institute of Chartered Accountants of India (ICAI).

5. Tax expense is after adjusting Deferred tax charges / (credit) and Fringe Benefit tax.

6. The Board of Directors has recommended an equity dividend of 30%.

7. Previous period figures have been regrouped wherever necessary.

8. The above audited financial results have been approved by the Board of Directors at its meeting held on May 15, 2009.

H S Bawa
Managing Director