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, 2004.

SR. NO. PARTICULARS NINE MONTHS ENDED ON 31.12.2003 (UNAUDITED) QUARTER ENDED ON 31.03.2004 (UNAUDITED) QUARTER ENDED ON 31.03.2003 (UNAUDITED) YEAR ENDED 31.3.2004 (AUDITED) YEAR ENDED 31.3.2003 (AUDITED 1 Sales (Net of Excise Duty) 31167 2163 1531 33330 29391 2 Other Income 753 241 187 994 578   TOTAL INCOME 31920 2404 1718 34324 29969 3 Total Expenditure:             a. (Increase)/Decrease in stock in trade 4773 -5363 -2628 -590 -1384   b. Consumption of Materials 9929 3698 3002 13627 15046   c. Staff Cost 1239 397 395 1636 1467   d. Other Expenditure:             - Purchase of Finished Goods 1642 2232 12 3874 2048   - Others 4884 1697 1332 6581 6205   TOTAL EXPENDITURE 22467 2661 2113 25128 23382 4 Interest 10 10 13 20 25 5 Depreciation 650 193 162 843 653 6 Profit before tax (1+2-3-4-5) 8793 -460 -570 8333 5909 7 Provision for Taxation:             - Current Tax 1575 -103 -351 1472 778   - Deferred Tax -29 -40 65 -69 73 8 Net Profit after tax (6-7) 7247 -317 -284 6930 5058 9 Paid-up Equity Share Capital (face value of Rs.10/- per share) 863 863 863 863 863 10 Free Reserves (excluding revaluation reserves) - - - 31934 26951 11 Basic Earning per share (EPS) – Rs. 83.97 -3.67 -3.29 80.3 58.61 12 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 the final dividend of Rs.10/- per share for the year ended 31.3.2004. The Company has changed the rate of depreciation on plant & machineries and factory buildings. Had there been no change, the depreciation for the year would have been lower by Rs.206.72 Lacs and profit higher by a similar amount. The Company has one segment of activity namely "Agriculture Inputs". Information on Investor complaints/correspondance for the quarter (Nos.) : Opening Balance - 0, New 41 Disposals - 41 and Closing Balance - 0. 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 approved by the Board of Directors at their meeting held on 21st May, 2004.

Mumbai, 21 May 2004 For MONSANTO INDIA LIMITED SEKHAR NATARAJAN MANAGING DIRECTOR