Home / Knowledge / News / Textiles / SRF's Q3 PAT improves by 9% to Rs.37 crore
SRF's Q3 PAT improves by 9% to Rs.37 crore
31
Jan '09
SRF Limited, the domestic market leader in technical textiles and refrigerant gases and a preferred supplier of other fluorochemical products and polyester films, posted a net profit after tax (PAT)of Rs. 37 crore during Q3 of 2008-09, an increase of around 9% over Rs. 34 crore recorded during the corresponding period last year (CPLY).

The company's revenue during the period also improved marginally to Rs. 419 crore as against Rs. 412 crore recorded CPLY. SRF's results were taken on record by the Board of Directors.

The company's PAT for the nine months of the current financial year also improved by around 3% to Rs. 142 crore as against Rs.138 crore recorded during Apr-Dec 2007. The revenue increased by 14% at Rs. 1,402 crore from Rs. 1230 crore during CPLY.

SRF's EBIDTA for Q3 FY 09 improved by Rs. 19 crore to Rs. 114 crore, a growth of 20% over CPLY. For nine months the EBIDTA improved by Rs. 87 crore to Rs.381 crore registering a growth of 29% over April-Dec'07.

SRF's financial results also included the impact of Rs. 10.73 crore for the period October-December 2008 and Rs. 56 crore for the period April-December 2008 on account of reinstatement of foreign currency loans and Mark to Market of foreign currency hedge contracts. Besides, the operations of the polymerisation and spinning lines in the plant at Manali Industrial Area, Manali in the State of Tamil Nadu remained suspended during the quarter due to power shortage and to avoid unnecessary inventory build up.

Reflecting on the results, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, said, “In spite of an extremely challenging economic environment, the company managed to post marginally higher numbers compared to the last year. Our Packaging Films Business and Chemical Business performed in a resolute manner under trying circumstances. The Technical Textiles Business (TTB) unfortunately was worst affected by the downturn since it had to bear the additional impact of higher imports during this period. While we expect things to remain challenging, the focus will be on the revival of our Technical Textiles Business.”

The board also approved a proposal to set up a Laminated Fabric Project for expansion of TTB's coated fabrics business at a total cost of Rs. 57 crore. The installation of the new facility having a capacity of 480 Lakh sqm will be coming up in the company's existing packaging film plant at Kashipur. With this SRF will complement its coated fabrics product portfolio with laminated fabrics used largely for applications such as flex banners, signages etc. The decision to invest in the laminated fabric project has been taken as a part of the company's plan to grow in the space of coated fabrics through alternate technologies. This also aims at derisking the company's Technical Textiles Business (TTB) by reducing its dependence on tyre cord fabrics.

SRF Limited


Must ReadView All

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Textiles | On 22nd Nov 2017

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Karl Mayer, a technology and market leader in textile machinery from...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

November 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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

Active Poll

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

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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