Rashtriya Chemicals & Fertilizers Ltd.

Balance Sheet:  As on 31-3-1999                          Rs. (Crores)

Source of Funds Schedule 31-3-1999 31-3-1998 Share Capital A 551.69 551.69 Reserves & Surplus B 752.81 683.82     1304.50 1235.51 Secured Loans C 382.35 299.21  Unsecured Loans D 8.45 8.80     390.80 308.01 Deferred Tax Liability   Less Deferred Tax Asset       1695.30  1543.52 Application of Funds       Fixed Assets       Gross Block E 1824.94 1691.61 Less: Depreciation   1136.00  1114.88 Net Block   688.94 576.73 Capital work in progress F 123.85 83.64 Exp. during construction G 0.00 2.09 Deposits/Advances to contractors H 52.83 74.95     865.62  737.41 Investments I 5.21 5.21 Current Assets, Loans & Advances       Inventories J 440.99  440.74 Sundry Debtors K 524.55  478.44 Cash & Bank Balances L 23.30  25.88 Loans & Advances M 290.72 304.30      1279.56 1249.36 Less : Current Liabilities & Provisions N 533.01 645.46 A - Current Liabilities   322.15    330.72    B - Current Provisions   132.94   117.74       Net Current Assets   824.47 800.90 Miscellaneous Expenses     1695.30 1543.52 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 K.S.Aiyar & Co Chartered Accountants For Chandulal M. Shah & Co. Chartered Accountants Vikas Kumar Partner Ramakrishna Prabhu    Partner K.H.Vasavada   Partner 24-5-1999    Mumbai