Gurugram, August 07, 2018: SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates today announced its financial results for the first quarter ended June 30, 2018.
Consolidated Q1 Financials
The consolidated gross sales of the Company grew by 35% from ₹1,273 crore to ₹1,718 crore1 in Q1FY19 when compared with Corresponding Period Last Year (CPLY). The Company reported an increase of 29% in its consolidated Profit after Tax (PAT) from ₹104 crore to ₹134 crore in Q1FY19 over CPLY.
Commenting on the results, Managing Director, Ashish Bharat Ram said “On an overall basis, the Company has witnessed strong revenue and margin performance in this quarter. We are confident that Specialty Chemicals Business will rebound in the second half of the current financial year. That along with the fact that our other Businesses are signaling a healthy performance augurs well for the year.”
Consolidated Q1FY19 Segment Results
The Technical Textiles Business reported a marginal decrease of 1% in its segment revenue from ₹507 crore to ₹501 crore during Q1FY19 over CPLY. The operating profit of the Technical Textiles Business increased by 22% from ₹59 crore to ₹72 crore in Q1FY19 over CPLY. The Business continued to maintain its market leadership position on account of better volumes and operational cost savings.
The Chemicals Business reported an increase of 34% in segment revenue from ₹357 crore to ₹477 crore during Q1FY19 over CPLY. The operating profit of the Chemicals Business increased by 32% from ₹59 crore to ₹79 crore in Q1FY19 over CPLY despite a weak summer that impacted our Fluorochemicals Business to a certain extent.
The Packaging Films Business reported an increase of 52% in its segment revenue from ₹415 crore to ₹632 crore during Q1FY19 when compared with CPLY. The operating profit of the Packaging Films Business increased by 116% from ₹45 crore to ₹97 crore in Q1FY19 over CPLY on account of higher volumes and better margins.
Other Businesses reported an increase of 18% in its segment revenue from ₹112 crore to ₹132 crore during Q1FY19 over CPLY. The operating profit of the Other Businesses increased by 62% from ₹7 crore to ₹12 crore in Q1FY19 over CPLY.
Interim Dividend
In today’s meeting of the Board of Directors, an interim dividend at the rate of 60 percent, amounting to ₹6 per share was approved.
Innovation and Intellectual Property
As of June 30, 2018, the Company has applied for 145 patents, with ten patents applied during the quarter. The Company has been granted nineteen patents at the close of business on June 30, 2018.
Awards and Recognition
SRF Bhiwadi was conferred the 24th Bhamashah Award 2018 for the fifth consecutive year for significant contribution in the field of primary and elementary education along with infrastructural developments of schools.
SRF’s Chemicals Business was awarded the ‘Syngenta Supplier Award 2018 for Innovation’ at the Syngenta Suppliers Meet in Germany in June 2018.
