Rashtriya Chemicals & Fertilizers Ltd.

Balance Sheet:  As on 31-3-2002                           Rs. (Crores)

Source of Funds Schedule 31-3-2002 31-3-2001 Share Capital A 551.69 551.69 Reserves & Surplus B 681.47 815.08     1233.16 1366.77  Secured Loans C 532.11 631.04 Unsecured Loans D 0.18 1.89      170.95 0.00 Deferred Tax Liability   Less Deferred Tax Asset       1936.40  1999.70 Application of Funds       Fixed Assets       Gross Block E 2240.44  2116.60 Less: Depreciation   1305.54 1229.94 Net Block   934.90 886.66 Capital work in progress F 30.81 99.62  Exp. during construction G 1.82 3.58  Deposits/Advances to contractors     967.53 989.86  Investments H 0.17 0.17 Current Assets, Loans & Advances       Inventories J 502.60 522.06 Sundry Debtors K 433.01 534.75 Cash & Bank Balances L 97.25  44.43 Loans & Advances M 249.75 243.68      1282.61   1344.92  Less : Current Liabilities & Provisions N A - Current Liabilities   286.11    275.38   B - Current Provisions   42.51   59.87        Net Current Assets   328.62  335.25 Miscellaneous Expenses 14.71 0.00      1936.40 1999.70  Significant Accounting Policies XVII     Notes forming part of accounts XVIII       Signature to Schedule "A" to "N" and Schedules XVII & XVIIII   K.C. Prakash S.Balan D.K.Verma Company Secretary Director (Finance) Chairman & Managing Director For T.R.Chadha & Co. Chartered Accountants For Gala & Gala & Co Chartered Accountants For Chandulal M. Shah & Co. Chartered Accountants Vikas Kumar Partner Vasant N Bheda     Partner K.H.Vasavada  Partner 18.5.2002 Mumbai