SRF reported 96% jump in consolidated net profit to Rs 381 crore on 40% jump in revenue from operations to Rs 2,608 crore in Q4 FY21 over Q4 FY20.
The company's Earnings before Interest and Tax (EBIT) increased 73% to Rs 575 crore in Q4FY21 over Q4FY20.
The company's chemicals business reported an increase of 31% in its segment revenue to Rs 1,153 crore during Q4FY21 from Rs 882 crore reported in the corresponding period last year.
During the quarter, the specialty chemicals business performed exceptionally well owing to a strong demand from the overseas markets and enhanced volumes of certain key products supplied to our major customers in Europe. The fluorochemicals business is witnessing an impact of the micro lockdowns and certain restrictions imposed by the local authorities as a part of COVID-19 response measures which, though currently not significant, may have an adverse impact on business performance in the short term.
The packaging films business reported an increase of 63% in its segment revenue to Rs 980 crore during Q4FY21 from Rs 601 crore in Q4 FY20. Volume growth, better cost efficiencies, and higher customer-centricity have resulted in the Business establishing itself as a global major in the packaging films industry.
The technical textiles business reported an increase of 26% in its segment revenue to Rs 401 crore in Q4FY21 from Rs 317 crore in Q4 FY20. Fast recovery in the tyre industry and a healthy contribution from the belting fabrics segment augured well for the technical textiles business.
The other businesses reported an increase of 35% in its segment revenue to Rs 78 crore in Q4FY21 from Rs 58 crore in Q4 FY20. Both the coated and laminated fabrics business performed very well in a difficult external environment.
SRF reported 31% jump in consolidated net profit to Rs 1,198 crore on 17% increase in revenue from operations to Rs 8,400 crore in the year ended 31 March 2021 (FY21) over the year ended 31 March 2020 (FY20).
Commenting on the results, managing director, Ashish Bharat Ram, said: "The company has had an excellent quarter all around, with the specialty chemicals and the packaging films businesses performing exceedingly well. While I remain reasonably optimistic of the year ahead, we are seeing some disruptions at our workplace emanating from the second wave of the COVID-19 outbreak."
The company's board has approved the setting up of the fourth multi-purpose plant (MPP) at Dahej, India at an approximate cost of Rs 375 crore. A need was being felt to augment the existing MPPs, to be able to capitalize on emerging business opportunities to ensure robust pipeline of new products in the future.
As of 31 March 2021, the company has applied for 309 patents, with eleven patents applied during the quarter. Till date, the company has been granted ninety-three patents globally.
SRF is a chemical based multi-business conglomerate engaged in the manufacturing of industrial and specialty intermediates.
The scrip rose 1.32% to currently trade at Rs 6799.05 on the BSE.
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