1. MADRAS FERTILIZERS LIMITED Status of implementation of PRP at MFL
MANALI , CHENNAI
Status of implementation of PRP at MFL 1

2. MADRAS FERTILIZERS LIMITED
INCORPORATED IN DECEMBER 1966
COMMERCIAL PRODUCTION FROM NOV 1971
INITIAL PROJECT COST : Rs 65 Cr
EQUITY :
FIRST PUBLIC ISSUE : MAY 1997, 2.86 Cr Rs 5 PREMIUM
AUTHORISED SHARE CAPITAL Rs Cr + Rs 190 Cr ** = Rs 365 Cr
SUBSCRIBED SHARE CAPITAL Rs Cr
PAID-UP SHARE CAPITAL Rs Cr
** Preference Capital not issued
* Decreased due to forfeiture of shares. 2

3. FINANCIAL PERFORMANCE OF MFL
(₹ Cr)
DETAILS
TOTAL REVENUE
EXPENDITURE
EBDIT
(8.76)
(8.39)
138.07
141.43
211.02
FINANCE COST
79.10
92.62
88.45
55.05
60.00
EBDT
(87.86)
(101.01)
49.62
86.38
151.02
DEPRECIATION
42.84
41.63
41.53
41.21
40.34
DRE
4.03
2.57
1.21
0.00
EXTRAORDINARY ITEMS
124.69
1.31
PROFIT / (LOSS)/ BEFORE TAX
(134.73)
(145.21)
6.88
169.86
111.99
TAX
0.12
0.17
PROFIT / (LOSS) AFTER TAX
(134.85)
(145.38)
CASH PROFIT / (LOSS)
(87.98)
(101.18)
211.07
152.33
ACCUMULATED LOSS
(648.55)
(793.93)
(787.05)
(617.19)
(505.20) 3

4. Status on implementation of PRP
PRP is yet to be implemented at MFL because of the following:
Company is under the purview of BIFR (declared sick in April 2009).
Company’s operation is profitable since and is consistently generating profit since last 3 years.
Revised pay (with out PRP) was implemented in April, 2011.
After settling pending arrears of 1997 wage revision and 1/3rd arrears of 2007 wage revision, balance amount is to be paid on ‘monthly’ basis, based on cash profit. Board has agreed to consider revision in Perks and Allowances if company is able to demonstrate improvement in production performance.
Subsequently, PRP would be implemented based on affordability criteria and after obtaining Board approval.
However as MOU parameter, Company is to implement Bell Curve approach in PMS rating. 4

5. THANK YOU 5