Coromandel Fertilisers Limited Announces its Third Quarter Unaudited Financial results

Hyderabad, January 22, 2005: The unaudited financial results for the third quarter ended December 31, 2004 were approved by the Board of Directors at its meeting held on January 22, 2005.

Sales turnover during this period is Rs.1117.99 crore, as against Rs.888.46 crore in the corresponding period last year.

The gross profit before depreciation and taxes for the 9 months period is Rs.99.90 crore as against 79.81 crore during the same period last year; depreciation provided is Rs.25.39 crore (previous year Rs.24.44 crore); provision for taxation is Rs.31.72 crore (net of deferred tax credit) (previous year Rs.23.74 crore). During the current year provision for income tax relating to earlier years amounting to Rs.16.48 crore has been written back as no longer required. The net profit is Rs.59.27 crore as against Rs.31.63 crore during the corresponding nine months period last year.

The higher volume of production and sales of complex fertilizers and pesticides during the period coupled with lower cost of distribution and finances enabled the Company to achieve improved profitability.

A copy of the advice to the Stock Exchanges giving the highlights of the unaudited financial results approved by the Board of Directors of the Company on January 22, 2005 is attached.

Coromandel Fertilisers Limited, is a constituent of Murugappa Group which has a turnover of over US $ 1.2 Billion, is a pioneer and market leader in several fields of business with manufacturing operations across 12 states in the Country. The Group has a strong presence in Abrasives, Engineering, Bio-products, Sanitaryware, Sugar, Fertilisers, Pesticides, Finance, General Insurance, Plantations and Nutraceuticals.

Murugappa Group with a turnover of Rs.5200 crores is a pioneer and market leader in several fields with manufacturing operations in 12 states. The Group has a strong presence in farm inputs, engineering, cycles, sugar, abrasives, finance, general insurance, sanitary ware, plantations, bioproducts and nutraceuticals.