Mangalore Chemicals & Fertilizers Limited

Balance Sheet as at March 31, 2007

(Rs. in Lakhs)

	Schedule No.	2006-2007	2005-2006
Source of funds
Shareholders' Funds
Share Capital	1.1	118,54.86	118,54.86
Reserves & Surplus	1.2	228,87.32	212,06.98
Sub total		347,42.18	330,61.84
Loan Funds
Secured	1.3	175,67.45	148,18.98
Unsecured	1.4	52,75.50	65,50.15
Sub total		228,42.95	213,69.13
Deferred Tax Liability (Net)		35,61.34	32,98.44
Total		611,46.47	577,29.41

Application of Funds
Fixed Assets:
Gross Block	1.5	557,47.54	535,03.44
Less: Depreciation		256,53.14	241,06.40
Net Block		300,94.40	293,97.04
Capital Work-in-Progress		6,48.92	5,19.67
Sub total		307,43.32	299,16.71

Investments	1.6	5.00	-
Current Assets, Loans and Advances:	1.7
Inventories		141,95.68	142,25.13
Sundry Debtors		37,39.10	13,18.85
Cash and Bank Balances		15,84.58	3,65.46
Other Current Assets		5,11.79	24,46.48
Loans and Advances		333,51.66	303,83.01
Sub total		533,82.81	487,38.93
Less: Current Liabilities and Provisions:	1.8	229,84.66	209,26.23
Net Current Assets		303,98.15	278,12.70
Total		611,46.47	577,29.41
Accounting Policies and Notes on Accounts	3