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

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

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

Leave your Comments


May 2021

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


Advanced Search