SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates consolidated revenue decreased 4% from Rs. 1,937 crore to Rs. 1,858 crore in Q4FY20 when compared with corresponding period last year (CPLY). 

 

The company’s Earnings before Interest and Tax (EBIT) increased 2% from Rs. 325 crore to Rs. 332 crore in Q4FY20 when compared with corresponding period last year. The company’s Profit after Tax (PAT) rose 8% from ₹179 crore to ₹194 crore in Q4FY20 when compared with last year.

 

Commenting on the results, Managing Director, Ashish Bharat Ram said, “The demand for specialty chemicals has been robust and the business has contributed as per expectations. The packaging films business has also done well and continues to increase its footprint across the globe. All the business segments were adversely affected due to the lockdown announced by the government of India in March 2020.”

 

The chemicals business reported an increase of 5% in its segment revenue from Rs. 840 crore to Rs. 882 crore during Q4FY20 over the corresponding period last year. The operating profit of the chemicals business decreased 4% from Rs. 166 crore to Rs. 159 crore in Q4FY20 over corresponding period last year. 

 

The specialty chemicals business has performed well during the quarter and in line with the expectations. The fluorochemicals business was adversely impacted during the quarter as the automobile sector continued to remain under severe pressure as well as due to the low prices of key refrigerants. Impact of the COVID-19 related lockdown led to certain sales being deferred.

 

The packaging films business reported a decrease of 3% in its segment revenue from Rs. 623 crore to Rs. 601 crore during Q4FY20 when compared with corresponding period last year. 

 

The other businesses reported a decrease of 19% in its segment revenue from Rs. 71 crore to Rs. 58 crore in Q4FY20 when compared with CPLY. The operating profit of the other businesses decreased from Rs. 6 crore to Rs. 5 crore in Q4FY20 over CPLY.

 

In FY20, SRF’s revenue increased 2% from Rs. 7,100 crore to Rs. 7,209 crore over CPLY. The company’s EBIT increased 16% from Rs. 1,079 crore to Rs. 1,250 crore over CPLY. The company’s PAT increased 55% from Rs. 592 crore to Rs. 916 crore over CPLY.

 

As of March 31, 2020, the company has applied for 205 patents, with fifteen patents applied during the quarter. Till date, the company has been granted 70 patents globally.