SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates, Q3 FY21 consolidated revenue grew by 16% from Rs. 1,850 crore to Rs. 2,146 crore in Q3 FY21 when compared with corresponding period last year (CPLY). 

The company’s Earnings before Interest and Tax (EBIT) increased by 42% from Rs. 337 crore to Rs. 479 crore in Q3 FY21 when compared with CPLY. The company’s Profit after Tax (PAT) decreased by 6% from Rs. 345 crore to Rs. 324 crore in Q3 FY21 when compared with CPLY.

Commenting on the results, Managing Director, Ashish Bharat Ram said, “It has been an excellent quarter for the company. We have seen all business segments return to normal operations. I remain cautiously optimistic going forward.”

The board has also approved a second interim dividend at the rate of 190 percent amounting to Rs. 19 per share.

The Chemicals Business reported an increase of 12% in its segment revenue from Rs. 812 crore to Rs. 906 crore during Q3 FY21 over CPLY. The operating profit of the chemicals business increased by 33% from Rs. 143 crore to Rs. 190 crore in Q3 FY21 over CPLY.

During the quarter, the Specialty Chemicals Business performed exceedingly well owing to strong demand from the overseas markets, higher capacity utilization of dedicated/multipurpose facilities and significant cost-savings across all product streams.

The fluorochemicals Business witnessed a revival in demand of refrigerants and healthy contribution from the chloromethanes segment, leading to a much better overall performance.

The packaging films Business reported an increase of 26% in its segment revenue from  Rs 638 crore to ₹802 crore during Q3FY21 when compared with CPLY. The operating profit of the Packaging Films Business increased by 42% from ₹149 crore to ₹212 crore in Q3FY21 over CPLY. New capacities in Thailand and Hungary aided further volume growth and both the BOPET and BOPP segments witnessed robust performance due to better operating leverage, improved margins, and a healthy demand from customers.

The technical textiles business reported an increase of 9% in its segment revenue from Rs. 336 crore to Rs. 367 crore during Q3 FY21 over CPLY. The operating profit of the technical textiles business grew  by 86% from Rs. 37 crore to Rs. 68 crore in Q3 FY21 over CPLY. This was mainly due to faster- than-expected recovery in the tyre industry.

The other businesses reported an increase of 7% in its segment revenue from Rs. 69 crore to Rs. 74 crore in Q3 FY21 when compared with CPLY. The operating profit of the other businesses remained flat at Rs. 8 crore in Q3 FY21 over CPLY.

As of December 31, 2020, the company has applied for 298 patents, with four patents applied during the quarter. Till date, the company has been granted 83 patents globally.