Home / Knowledge / News / Textiles / Chemicals & Polymers segment revenue improves at SRF
Chemicals & Polymers segment revenue improves at SRF
14
Feb '12
SRF Limited, a multi-business entity engaged in the manufacture of chemical based industrial intermediates, posted a net profit after tax (PAT) of Rs. 111 crore for the quarter ended December 2011 recording a 35% decrease over the corresponding period last year (CPLY).

However, the Profit before Interest, Depreciation, Exchange Currency Fluctuations and Tax decreased by only 6% from Rs. 292 crore to Rs. 275 crore. The Exchange Currency Fluctuation alone had a negative impact of Rs. 51 crore to the company during the quarter. The Company's revenue during October-December' 11 improved by 12% to Rs. 949 crore as against Rs. 844 crore during CPLY. The unaudited financial results of SRF were approved by SRF's Board in a meeting. The Board also approved an interim dividend at the rate of 70% amounting to Rs.7 per share.

Reflecting on the financial performance of the company, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, commented: “The last four months have been extremely difficult for the businesses. The economic environment remains volatile and uncertain. While the Chemicals Business performed well, the Technical Textiles and Packaging Films businesses have gone through a tough period.”

The segment revenue of Chemicals & Polymers Business (CPB) improved by 84% at Rs. 370 crore over Rs. 201 crore during the CPLY while the operating profit grew by 201% to Rs. 220 crore over Rs. 73 crore in the CPLY. In the Technical Textiles Business, while the segment revenue improved by 16% to Rs. 427 crore, the operating profit decreased by 51% to Rs. 20 crore during the period. The segment revenue of the Packaging Films Business (PFB) declined by 44% to Rs. 157 crore. Notwithstanding the poor demand – supply scenario, PFB incurred an operating loss of Rs. 4 crore only.

9M Financials
The company's revenue at Rs. 2702 crore achieved a growth of 22% over Rs. 2211 crore recorded during the same period last year. The company's PBT at Rs. 437 crore decreased by 11% during the first 9M over CPLY. For the first nine months of the current financial year, SRF posted a 14% reduction in its net profit after tax (PAT) at Rs. 300 crore over the CPLY.

International Subsidiary
During the quarter, SRF Global BV, a wholly owned subsidiary of the Company incorporated in the Netherlands had set up SRF Flexipak (South Africa) (Pty) Ltd., a step down subsidiary incorporated in South Africa for setting up a packaging film line (25,500 TPA) and a metallizer (5400 TPA).

SRF Limited


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X