• SRF Ltd is engaged in the manufacturing of chemicals and polymers, technical textiles and packaging films.

• SRF’s Chemicals business maintained its revenue momentum with >25% growth for the seventh consecutive quarter, driving the company’s overall performance. As an expected large part of the growth in FY21 to be driven by Chemicals with commissioning of hydrofluorocarbon (HFC) capacity and sustained momentum in Specialty Chemicals.

• Revenue increased 2% YoY in 3QFY20, while EBITDA grew 25% YoY. PAT was up by an impressive 2.3x YoY due to tax benefit. For 9MFY20, revenue/ EBITDA/adj. PAT was up 2%/13%/61% YoY.

• The board approved a proposal to set up dedicated facilities to produce intermediates catering to the agro-chemicals segment at an aggregate cost INR2.4b for new products and ramping up existing products (2,150 MTPA).

• Three new biaxially-oriented polyethylene terephthalate (BOPET) lines were commissioned two in Indonesia and one in India, which may impact industry margins in the coming quarters.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

Found this insight useful?

For more such insights, delivered daily in real-time for free, download the inChat app from the Play Store. Download Now!

Please share with your friends and family as well. You can also subscribe to one of our channels listed at the bottom of this page.