SRF Q4 FY21 revenue up 40%; PAT up 96%
Petrochemical

SRF Q4 FY21 revenue up 40%; PAT up 96%

The chemicals business reported an increase of 31% in its segment revenue from Rs. 882 crores to Rs. 1,153 crores during Q4 FY21 over CPLY

  • By ICN Group | May 06, 2021

SRF Limited, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates, consolidated revenue for Q4 FY21 grew 40% from Rs. 1,858 crores to Rs. 2,608 crores in Q4 FY21 when compared with Corresponding Period Last Year (CPLY) and Profit after Tax (PAT) increased 96% from Rs. 194 crores to Rs. 381 crores in Q4 FY21 when compared with CPLY.

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. Looking after our communities and employees is of paramount importance to us at the moment.”

The Chemicals Business reported an increase of 31% in its segment revenue from Rs. 882 crores to Rs. 1,153 crores during Q4 FY21 over CPLY. The operating profit of the Chemicals Business increased 73% from Rs. 159 crores to Rs. 275 crores in Q4 FY21 over CPLY. 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 witnessed higher sales volumes in the refrigerants segment from both domestic and export markets. In addition, healthy contribution from the chloromethanes segment augmented the overall results. However, 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 from Rs. 601 crores to Rs. 980 crores during Q4 FY21 when compared with CPLY. The operating profit of the Packaging Films Business increased 67% from Rs. 131 crores to Rs. 219 crores in Q4 FY21 over CPLY. 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. Additionally, new capacities in Hungary and Thailand and enhanced sales of Value-Added Products (VAPs) have contributed significantly to the overall performance.

The Technical Textiles Business reported an increase of 26% in its segment revenue from Rs. 317 crores to Rs. 401 crores during Q4 FY21 over CPLY. The operating profit of the Technical Textiles Business increased 96% from Rs. 37 crores to Rs. 73 crores in Q4 FY21 over CPLY.

The Other Businesses reported an increase of 35% in its segment revenue from Rs. 58 crores to Rs. 78 crores in Q4 FY21 when compared with CPLY. The operating profit of the Other Businesses increased 66% from Rs. 5 crores to Rs. 9 crores in Q4 FY21 over CPLY. Both the Coated and Laminated Fabrics Business performed very well in a difficult external environment. 

In FY21, SRF’s revenue increased 17% from Rs. 7,209 crores to Rs. 8,400 crores over CPLY. The Company’s EBIT increased 46% from Rs. 1,250 crores to Rs. 1,828 crores over CPLY. The company’s PAT increased 31% from Rs. 916 crores to Rs. 1,198 crores over CPLY.

The Board has approved the setting up of the fourth Multi-Purpose Plant (MPP) at Dahej, India at an approximate cost of Rs. 375 crores. A need was being felt to augment the existing MPPs, to be able to capitalize on emerging business opportunities to ensure a robust pipeline of new products in the future.

As of March 31, 2021, the company has applied for 309 patents, with eleven patents applied during the quarter. Till date, the company has been granted 93 patents globally.

Other Related stories

Startup

Chemical

Digitization

Gas