Gurugram, May 13, 2019: SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates today announced its consolidated financial results for the fourth quarter and full year ended March 31, 2019. The Company’s audited results were approved by the board of directors in a meeting held today in Gurugram, Haryana.
Consolidated Q4 Financials
The consolidated revenue of the company grew by 29% from ₹1,612 crore to ₹2,072 crore in Q4FY19 when compared with Corresponding Period Last Year (CPLY). The Company’s Earnings before Interest and Tax (EBIT) increased by 40% from ₹242 crore to ₹339 crore in Q4FY19 when compared with CPLY. The Company’s Profit after Tax (PAT) rose 54% from ₹124 crore to ₹191 crore in Q4FY19 when compared with CPLY.
Commenting on the results, Managing Director, Ashish Bharat Ram said, “We finished the year on a good note. The demand on the Specialty Chemicals side seems to be coming back on track. The Technical Textiles Business was hit with some inventory losses and fall in demand. All in all, I expect a better year, going ahead.”
Consolidated Q4 FY19 Segment Results
The Chemicals Business reported an increase of 66% in its segment revenue from ₹507 crore to ₹840 crore during Q4FY19 over CPLY. The operating profit of the Chemicals Business increased by 80% from ₹92 crore to ₹166 crore in Q4FY19 over CPLY. The Fluorochemicals Business continued to perform in line with expectations mainly on account of higher sales of Chloromethanes. The Specialty Chemicals Business witnessed robust demand on the back of agro reversal in the fourth quarter, leading to higher sales. Further, SCB’s technology capability was enhanced with the installation of new plants.
The Packaging Films Business reported an increase of 18% in its segment revenue from ₹527 crore to ₹623 crore during Q4FY19 when compared with CPLY. The operating profit of the Packaging Films Business increased by 46% from ₹72 crore to ₹106 crore in Q4FY19 over CPLY owing to increased capacities and better margins, with all plants performing exceedingly well.
The Technical Textiles Business reported an increase of 4% in its segment revenue from ₹462 crore to ₹481 crore during Q4FY19 over CPLY. The operating profit of the Technical Textiles Business declined 16% from ₹67 crore to ₹56 crore in Q4FY19 over CPLY. The Business has performed well on account of increased sales from the value-added products portfolio and better margins.
The Other Businesses reported an increase of 9% in its segment revenue from ₹118 crore to ₹129 crore during Q4FY19 when compared with CPLY. The operating profit of the Others Business remained flat at ₹11 crore in Q4FY19 over CPLY.
Consolidated Annual Results
In FY19, the Company’s PAT increased by 39% from ₹462 crore to ₹642 crore over CPLY. SRF’s revenue increased by 38% from ₹5,589 crore2 to ₹7,693 crore over CPLY. The company’s EBIT increased 43% from ₹796 crore to ₹1,141 crore over CPLY.
Innovation and Intellectual Property
As of March 31, 2019, the company has applied for 170 patents, with fifteen patents applied during the quarter. Till date, the company has been granted thirty three patents globally.
Awards and Recognition
SRF’s Packaging Films Business, Indore manufacturing facility has been bestowed a State level honor for highest investment in Madhya Pradesh – medium and large category.
