Home / Knowledge / News / Textiles / SRF Q4 PAT increases in fourth quarter
SRF Q4 PAT increases in fourth quarter
11
May '09
SRF Limited, market leader in technical textiles, refrigerants, engineering plastics and industrial yarns and a preferred supplier of other fluorochemical products, fluorospecialities and polyester films, posted a profit after tax (PAT) of Rs. 21 crore over net sales of Rs. 408 crore for the quarter ended March 31, 2009.

During the last financial year, the PAT of the company for Q4 had declined to Rs. 1 crore due to the negative impact of Rs. 21 crore on account of foreign currency rates on the 'mark to market' of the company's trade and other outstanding foreign currency transactions. The net sales for the same period last year was recorded at Rs. 392 crore. SRF's audited results were taken on record by the Board of Directors this afternoon.

SRF's results for the period January-March 2009 also included the performance of the two new businesses, the Engineering Plastics Business and the Industrial Yarn Business, which the company had purchased from SRF Polymers (SRFP).

For the whole year 2008-09, the company's PAT improved by 18% to Rs. 163 crore as against Rs. 139 crore recorded during the last financial year. The net sales of the company grew by 11%, from Rs. 1615 crore to Rs. 1800 crore for the same period. The company's current year's PAT also included the adverse impact of Rs. 81 crore on account of fluctuations in foreign exchange rates for the foreign currency based trade transactions, assets and liabilities.

Reflecting on the results, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, said, “While the last quarter of 2008-09 has been extremely challenging, the silver lining is that demand in our TTB started picking up from March onwards. As things stand today we are cautiously optimistic of the company's progress going ahead.” The company has already paid two interim dividends, each at the value of Rs. 5 per share aggregating to Rs. 10 per share during the year. In meeting, the board recommended NIL final dividend for the year 2008-09. The company also completed the buy back, that commenced last year, of shares of the company for Rs. 70 crore from the open market in April this year. The average price of the buy back shares works out to be Rs. 94.83/- per share as against the approved price of Rs. 160/- per share.

SRF also made two foreign acquisitions during the year: one in Thailand where it acquired Thai Baroda Industries Limited (TBIL), and the second one in South Africa where it acquired the belting fabrics business of Industex Technical Textiles (Pty) Limited.

SRF Limited

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

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

Urs Stalder
Sanitized AG

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

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search