Home / Knowledge / News / Textiles / 2010 a good year for the company as a whole, MD of SRF
2010 a good year for the company as a whole, MD of SRF
May '11
SRF Limited, a multi-business entity engaged in the manufacture of chemical based industrial intermediates, reported a growth of 23% in its net profit after tax (PAT) at Rs. 136 crore for the fourth quarter of 2010-11. SRF's net sales during Q4 improved by 25% to Rs. 846 crore as against Rs. 676 crore over the corresponding period last year (CPLY). The topline growth was attributable to higher sales mainly due to full year impact of doubling of capacity for BOPET film line and commissioning of new units such as Polyester Industrial Yarn and Laminated Fabrics. The company's audited results were taken on record by the Board of Directors this afternoon.

Reflecting on the results, Ashish Bharat Ram, Managing Director, SRF, said, “It has been a good year for the company as a whole. The Packaging Films Business has had an outstanding year but going forward the margins in this business are likely to come under pressure due to changed business environment. We are hopeful that our other businesses will help us bridge the gap.”

Riding on the overall improvement in its business performance, SRF consolidated recorded 49% growth in the full year PAT at Rs. 484 crore for the fiscal ended on March 2011. The annual profit of SRF consolidated included a gain of around Rs. 33 crore on account of gain from exchange currency fluctuation during 2010-11.

The net sales of SRF consolidated grew by 36%, from Rs. 2499 crore to Rs. 3391 crore during 2010-11. In particular, the company's Packaging Film Business recorded 159% growth in segment revenue at Rs. 871 crore during the period. The segment revenue of the company's Chemicals and Polymers Business increased by 14% at Rs. 747 crore and SRF's consolidated Technical Textiles Business recorded a 22% growth in segment revenue at Rs. 1861 crore during the year.

The improved financial performance of SRF standalone resulted in an improvement in multiple performance parameters. The Debt-Equity ratio improved from 0.78 to 0.51 during the year and the Earning Per Share (EPS) of the company improved from previous year's figure of Rs. 51.14 to Rs. 79.90 per share for 2010-11. The Net Debt to Equity as on 31 March 2011 has improved to 0.39 times as against 0.72 times as on 31 March 2010.

Earlier, SRF had paid two interim dividends, each of Rs. 7 per share aggregating to Rs. 14 per share during the year. In today's meeting, the board recommended NIL final dividend for the year 2010-11.

Following the Board approval on 26th February 2011, SRF commenced buyback of the fully paid up equity shares from the open market through the stock exchanges on 6th April 2011. An aggregate of 58,851 equity shares at an average market price of Rs. 334.38 per share were bought back absorbing a total amount of Rs. 1.97 crore till 6th May 2011.

The SRF Board had earlier during the year approved several projects to be set up at a total investment of around Rs. 1500 crore. Some of the important projects approved during the year included setting up of the company's second HFC-134a plant, Flexible Multipurpose Plant, Mutipurpose Chemical Plant, Intermediate Speciality Plant and Captive Power Plant at the Dahej Chemical Complex in Gujarat and Capacity Enhancement of Coated Fabrics at a new plant in Gummidipoondi. The Board had also approved setting up of two overseas plants for manufacturing Biaxially Oriented Polypropylene (BOPP) films and Biaxially Oriented Poly Ethylene Terephthalate (BOPET) films.

Established in 1973, SRF as a group has today grown into a global entity with operations in 4 countries. Apart from Technical Textiles Business, in which it enjoys a global leadership position, SRF is a domestic leader in Refrigerants, Engineering Plastics and Industrial Yarns as well.

SRF Limited

Must ReadView All

Apparel/Garments | On 29th Mar 2017

Indonesian garment exports to remain stable in 2017: API

Garment exports from Indonesia are likely to remain stable this year...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Myanmar CMP garment exports to touch $2.2bn in 2017

Cutting, making and packaging (CMP) garment exports from Myanmar are...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Deepak Jain

We are using Facebook and Instagram to promote ourselves

Marcel Alberts

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

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


Browse Our Archives


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