SRF

The company aims to add a manufacturing facility with a capacity of 60,000 million tonne per annum within the next 25 months

Chemical firm SRF Ltd on Tuesday reported a 33 per cent decline in its consolidated net profit to Rs 201.42 crore for the second quarter of this fiscal on higher expenses and announced plans to invest Rs 1,100 crore on new plants to manufacture fourth-generation refrigerants. Its net profit stood at Rs 300.78 crore in the year-ago period. The total income rose to Rs 3,457.63 crore during the July-September period of this fiscal from Rs 3,206.48 crore in the year-ago period, the company said in a regulatory filing. The company's total expenses increased to Rs 3,173.97 crore in the second quarter from Rs 2,791.67 crore a year ago. SRF Chairman and Managing Director Ashish Bharat Ram said, While the performance this quarter has been expectedly subdued, I believe the worst is now behind us. We will start seeing an improvement from this quarter onwards with a likelihood of a strong finish to the year". SRF also informed that its Board of Directors approved "a project for setting up new

The market's expectation of a demand recovery for SRF's chemical segment will be met with disappointment, UBS said

SRF has given trend line breakout on daily chart and holding well above the same.

The chemicals industry has been grappling with high inventory and destocking for the past few quarters, leading to continuous pressure on volume and margins, according to analysts

The rise in stock came on hopes of recovery in the chemical business, which will pick up pace in the second half of FY25

Chemical firm SRF Ltd on Tuesday reported a 25 per cent decline in its net profit to Rs 422 crore for the quarter ended March 2024 on lower income. "The company's Profit After Tax (PAT) decreased 25 per cent from Rs 562 crore to Rs 422 crore in Q4FY24 when compared with the corresponding period of the last year," SRF said in a statement. The consolidated revenue of the company declined 6 per cent to Rs 3,570 crore in the fourth quarter of the last fiscal from Rs 3,778 crore in the year-ago period. In the 2023-24 fiscal, SRF's revenue decreased 12 per cent to Rs 13,139 crore from Rs 14,870 crore in the preceding year. The company's profit after tax decreased 38 per cent to Rs 1,336 crore in the last fiscal from Rs 2,162 crore in the 2022-23 fiscal. SRF Chairman and Managing Director Ashish Bharat Ram said, "While the general performance has been weak, we have seen a reasonable recovery in our chemicals business in the fourth quarter, as we had envisaged. We believe that this recove

The demand-supply imbalance and margin pressures would be a key monitorable in the near to medium-term

Alok Industries and Chambal Fertilisers among others have recently bounced back above their 30-EMAs; charts suggest a possibility of an up move in the near-term.

Consolidated net profit after tax fell to 2.53 billion rupees (about $30 million) for the three months ended Dec.31 from 5.11 billion rupees a year ago

Chemical firm SRF Ltd on Friday reported a 37 per cent decline in its consolidated net profit to Rs 300.78 crore for the September quarter on lower income and announced a total capex of Rs 510 crore for setting up of facilities to produce agrochemical intermediate and packaging film. Its net profit stood at Rs 480.99 crore in the year-ago period. Total income fell to Rs 3,206.48 crore during the July-September period of the 2023-24 financial year from Rs 3,760.52 crore in the corresponding period of the previous year, according to a regulatory filing. SRF Chairman and Managing Director Ashish Bharat Ram said, "During the (second) quarter, we felt the brunt of the destocking and inventory rationalisation phenomenon in our chemicals business. Having said that, we are now beginning to see some positive traction that should bode well for a better second half of FY24. The overcapacity in our packaging films business will continue for some more time." The board has approved projects for

The management said the significant drop in profit was mainly due to the expected downcycle of the packaging films business and is expected to continue for the medium-term

Revenue for the company's packaging films business, which constitutes 32.8% of total revenue, fell 26.8%, while the chemicals segment's revenue, which comprises 49.7%, fell 3.6%

Revenue for the company's packaging films business, which constitutes 32.8% of total revenue, fell 26.8%, while the chemicals segment's revenue, which comprises 49.7%, fell 3.6%

In FY24, SRF's primary focus will be on profitability enhancement and further rationalisation of operating cost and working capital in the packaging film biz, its FY23 annual report said

Removal of non-F&O stocks could lead to addition/subtraction of 11 stocks, triggering a Rs 5,000-crore churn

Consolidated net profit after tax stood at 5.62 billion rupees ($68.7 million) for the three months ended March 31, compared with 6.06 billion rupees a year earlier

SRF saw strong demand from overseas markets, higher capacity-utilisation of facilities and significant cost-savings across all product streams

A portfolio of richly valued RoE stocks is expected to outperform the broader market over the longer term.

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