MONSANTO INDIA LIMITED

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

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2003

SR. NO. PARTICULARS QUARTER ENDED ON 31.12.2003 QUARTER ENDED ON 31.12.2002 NINE MONTHS ENDED ON 31.12.2003 NINE MONTHS ENDED ON 31.12.2002 YEAR ENDED 31.3.2003 (AUDITED) 1 Sales (Net of Excise Duty) 15338 13426 31342 28281 29391 2 Other Income 285 167 753 391 578   TOTAL INCOME 15623 13593 32095 28672 29969 3 Total Expenditure             a. (Increase)/Decrease in stock in trade 1960 3264 4773 1192 -1384   b. Consumption of Materials 5158 4422 9929 12034 15046   c. Staff Cost 376 307 1185 1072 1467   d. Other Expenditure:             - Purchase of Finished Goods -122 -43 1642 2036 2048   - Others 2237 1482 5113 5356 6205   TOTAL EXPENDITURE 9609 9432 22642 21690 23382 4 Interest 3 6 10 12 25 5 Depreciation 217 164 650 491 653 6 Profit before tax (1+2-3-4-5) 5794 3991 8793 6479 5909 7 Provision for Taxation:             - Current Tax 1420 882 1575 1129 778   - Deferred Tax -23 13 -29 8 73 8 Net Profit after tax (6-7) 4397 3096 7247 5342 5058 9 Paid-up Equity Share Capital of Rs.10/- each 863 863 863 863 863 10 Free Reserves (excluding revaluation reserves)       - 26951 11 Basic Earning per share (EPS) – Rs. 50.95 35.87 83.97 61.9 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 Company has one segment of activity namely "Agriculture Inputs" and hence seasonal in nature. Information on Investor complaints/correspondence for the quarter (Nos.) Opening Balance:0, New: 116 Disposals 116 and Closing Balance: 0 The Directors have declared an interim dividend of Rs. 10 per share at their Meeting held on 27th January, 2004.The Record date for payment of this interim dividend is 4th February, 2004. The Company's application for delisting of its shares has been accepted by Delhi Stock Exchange and equity shares has been delisted w.e.f. 29th Decembar, 2003. The Statutory Auditors have carried out a limited review of the results for the quarter and nine months ended 31st December, 2003. Previous period's/year's figures have been re-grouped wherever necessary to correspond with the current period's/year's figures. The results have been taken on record by the Board of Directors at their meeting held on 27th January, 2004.

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