MONSANTO INDIA LIMITED

Regd.Office: Ahura Centre, 5th Floor, 96, Mahakali Caves Road, Andheri (East), Mumbai - 400 093.

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2003

SR. NO. PARTICULARS NINE MONTHS ENDED ON 31.12.2002 (UNAUDITED) QUARTER ENDED ON 31.03.2003 (UNAUDITED) QUARTER ENDED ON 31.03.2002 (UNAUDITED) YEAR ENDED 31.3.2003(AUDITED) YEAR ENDED 31.3.2002 (AUDITED) 1 Sales(Net of Excise Duty) 27860 1531 3839 29391 29606 2 Other Income 391 187 118 578 308   TOTAL INCOME 28251 1718 3957 29969 29914 3 Total Expenditure             a.(Increase)/Decrease in stock in trade 1192 (2576) (1398) (1384) 550   b.Consumption of Materials 12034 3012 3440 15046 15389   c.Staff Cost 1072 395 384 1467 1447   d.Other Expenditure:             -Purchase of Finished Goods 2036 12 627 2048 2144   -Others 4935 1270 1171 6205 6109   TOTAL EXPENDITURE 21269 2113 4224 23382 25639 4 Interest 12 13 (93) 25 199 5 Depreciation 491 162 161 653 617 6 Profit before tax (1+2-3-4-5) 6479 (570) (335) 5909 3459 7 Provision for Taxation: - Current tax - Deferred Tax   1129 8 (351) 65 (391) 18    778 73 255 74 8 Income Tax Prior Year – Debit - - 20 - 20 9 Net Profit after tax (6-7-8) 5342 (284) 18 5058 3110 10 Paid-up Equity Share Capital of Rs.10/- each 863 863 863 863 863 11 Free Reserves (excluding revaluation reserves) - - - 26951 23110 12 Basic Earning per share (EPS) – Rs. 61.90 (3.29) 0.21 58.61 36.03 13 Aggregate of Non Promoters             Shareholding:             -Number of Shares 2404152 2404152 2404152 2404152 2404152   - Percentage of Shareholdings 27.85 27.85 27.85 27.85 27.85

Notes :

The Company's performance is affected having regard to the mix of products sold in respective quarters. The Directors have recommended a dividend of Rs.12.50 per share for the year ended 31.3.2003. The Company has one segment of activity namely "Agriculture Inputs". Previous period's/ year's figures have been re-grouped wherever necessary to correspond with the current period's/year's figures. The above results were reviewed by the Audit Committee and have been taken on record by the Board of Directors at their meeting held on 27th May, 2003.

Mumbai, 27th May 2003 For MONSANTO INDIA LIMITED SEKHAR NATARAJAN MANAGING DIRECTOR