Home / Knowledge / News / Textiles / SRF Technical Textiles Business posts excellent numbers
SRF Technical Textiles Business posts excellent numbers
11
May '10
Aided by the economic upturn, SRF Limited, a multi-business entity engaged in the manufacture of chemical based industrial intermediates, posted an all time high net profit after tax (PAT) of Rs. 111 crore for the fourth quarter of 2009-10, recording a 423% increase over the corresponding period last year (CPLY).

SRF's revenue during Q4 improved by 66% to Rs. 676 crore as against Rs. 408 crore over CPLY. The company's audited results were taken on record by the Board of Directors this afternoon. The surge in the company's net profit for the fourth quarter, which included a gain of around Rs. 11 crore on account of exchange currency fluctuation, was helped by robust demand and higher sales. The successful commissioning of the second Biaxially Oriented Polyester (BOPET) film line under its packaging film business, during the third quarter of the financial year also contributed to the improved performance of the company.

Reflecting on the results, Ashish Bharat Ram, Managing Director, SRF, said, “We have had a very good year where all our businesses have performed well, especially the Technical Textiles Business which has posted excellent numbers. Going forward we remain cautiously optimistic of the year ahead.While we believe that the domestic growth story will remain intact, uncertainties on the global front remain. The commodity price boom could put some pressure on margins.”

Annual Financials
An all round improvement in operations across the businesses enabled SRF consolidated to post a record PAT of Rs. 324 crore for the whole year 2009-10, an increase of 132% over CPLY. The consolidated net sales grew by 24%, from Rs. 2023 crore to Rs. 2499 crore during the same period. In particular, SRF's consolidated Technical Textiles Business, which accounts for more than 50% of the company's revenue, recorded a 1180% growth in its profit from operations at Rs. 229 crore during the year. The improved financial performance of the company resulted in an improvement in multiple performance parameters such as debt-equity ratio (from 0.96 to 0.78) and debt-EBIDTA ratio (from 2.23 to 1.55).

Capex Approval
The board also approved a capex proposal to enhance the capacity of Coated Fabrics by 170 lakh square metre per annum at SRF's existing plant location in Gummidipoondi at a total investment of approximately Rs. 143 crore. The new facility when completed will enable SRF to offer new products such as lacquered tarpaulins and fabrics for tensile structures and awnings as well as Poly Urethane (PU) Coated Fabrics which are emerging applications in India.

Projects Commissioned
The Laminated Fabric Plant at Kashipur was commissioned and capitalised during Q4 of the current financial year. Besides the second BOPET film line in Indore, the Company also commissioned and capitalised two other projects; manufacturing facilities for Polyester Industrial Yarn and Dipping Facilities at its existing plant location in Gummidipoondi and facilities for Fluorospecialities at Bhiwadi, during 2009-10.


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Bani Batra

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

Yash P. Kotak
Bombay Hemp Company

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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