SRF reported 59% increase in consolidated net profit to Rs 606 crore on a 36% rise in revenue to Rs 3,549 crore in Q4 FY22 as compared with corresponding period last year (CPLY).
The company's earnings before interest and tax (EBIT) increased 52% to Rs 876 crore in Q4 FY22 from Rs 575 crore recorded in CPLY.
The Chemicals Business reported an increase of 36% YoY in its segment revenue to Rs 1,572 crore in Q4 FY22. During the quarter, the fluorochemicals business performed very well on account of higher sales realizations from the refrigerants and chloromethanes segments, in both the domestic and exports markets. Furthermore, strong demand for flagship products and downstream derivatives augured well for the specialty chemicals business.
The Packaging Films Business reported an increase of 42% YoY in its segment revenue to Rs 1,390 crore in Q4 FY22. The demand for both BOPET and BOPP films remained buoyant. The business performed exceedingly well in the overseas markets, and the company gained from higher volumes from its recent capitalizations of the BOPET plant in Hungary and BOPP plant in Thailand.
The Technical Textiles Business reported an increase of 24% YoY in its segment revenue to Rs 497 crore in Q4 FY22. The business witnessed significant growth in the belting fabrics and the polyester industrial yarn segments, partially offsetting the weak demand for nylon tyre cord fabrics during the quarter.
The Other Businesses reported an increase of 20% in its segment revenue from Rs 78 crore to Rs 93 crore in Q4 FY22 when compared with CPLY. Despite a difficult external environment, both coated and laminated fabrics businesses performed in line with expectations, the company said.
SRF reported 58% rise in consolidated net profit to Rs 1,889 crore on a 48% increase in revenue to Rs 12,434 crore in FY22 over FY21.
The company's board has approved a project to setup dedicated facilities to produce key specialty products in the new plant structure at Dahej at an estimated cost of Rs 115 crore.
The board has also approved a project for capacity expansion of R 22 at Dahej at an approximate cost of Rs 30 crore.
Ashish Bharat Ram, chairman & managing director, said, We are closing FY22 on a strong note, with significant growth witnessed in our Chemicals Business and our other businesses too. With a strong CAPEX pipeline and our emphasis on enhancing our capabilities, I remain optimistic of our continued success in the future.
Effective 9 May 2022, the company has inducted Raj Kumar Jain as an additional director (independent) to the board. Raj Kumar Jain is the founder and managing director of Bounce Inc., a management and operations consulting firm.
Vellayan Subbiah, who served as an independent director on the board of the company has now been appointed as the non-executive, non-independent director, with effect from 10 May 2022.
As of 31 March 2022, the company has applied for 361 patents, with ten patents applied during the quarter. Till date, the company has been granted 114 patents globally.
SRF is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company's diversified business portfolio covers fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics.
The scrip tumbled 3.34% to end at Rs 2222.15 on the BSE today.
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