Rashtriya Chemicals & Fertilizers Ltd.

Balance Sheet:  As on 31-3-1998                          Rs. (Crores)

Source of Funds Schedule 31-3-1998 31-3-1997 Share Capital A 551.69 551.69 Reserves & Surplus B 683.82 537.040     1235.51 1088.73 Secured Loans C 318.75 189.24 Unsecured Loans D 8.80 6.72     327.55 195.96 Deferred Tax Liability   Less Deferred Tax Asset       1563.06 1284.69 Application of Funds       Fixed Assets       Gross Block E 1691.61 1515.91 Less: Depreciation   1114.88 1082.97 Net Block   576.73 432.94 Capital work in progress F 83.64 156.65 Exp. during construction G 2.09  2.12 Deposits/Advances to contractors H 74.95 19.33     737.41 611.04 Investments I 5.21 0.17 Current Assets, Loans & Advances       Inventories J 440.74  469.01 Sundry Debtors K 491.57  351.38 Cash & Bank Balances L 45.42 24.51 Loans & Advances M 346.30 361.59     1324.03  1206.49 Less : Current Liabilities & Provisions N 533.01 645.46 A - Current Liabilities   343.85    410.52   B - Current Provisions   159.74    122.49       Net Current Assets   820.44 673.48  Miscellaneous Expenses     1563.06 1284.69  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 Kantilal Patel & Co. Chartered Accountants For Manubhai & Co Chartered Accountants K.K.Kakkad & Co. Chartered Accountants Ashwin Amin Partner K.C.Patel     Partner K.S.Kakkad   Partner 30-5-1998      New Delhi