Liberty Phosphate - Limited Review For The Quarter Ended Mar 31, 2007

Liberty Phosphate Ltd has informed that in the limited review report of the Company for the quarter ended March 31, 2007, the Auditors of the Company have made the following observations:1. Sales includes Sale of Manufacture Goods as well as Traded Goods. Out of total sales, sales of Traded Goods are of Rs 165.61 lacs & Export Sales of Rs 23.57 Lacs during 3 months period ended March 31, 2007. Total Sales of the entire year is Rs 14996.38 Lacs.2. Company has revert back excess Provision for Income tax of Rs 19.76 lacs during the quarter ended March 31, 2007. However, total tax liability for entire year of Rs 27.17 lacs is provided in the books.3. Company has provided total FBT liability of Rs 10.32 lacs for the entire year 2006-07.4. Company has provided Deferred Tax Expenses of Rs 57.92 lacs during quarter under review, thus recorded total Deferred Tax Expense of Rs 61.75 Lacs for the entire year. The total deferred tax liability of the Company as at March 31, 2007 is Rs 151.58 lacs.