SRF Q4 net up 82 pc to Rs 109 crore

SRF today reported a 82 per cent increase in its consolidated net profit at Rs 108.79 crore for the quarter ended March 31, on account of lower expenses and rise in income.
The company had reported a net profit of Rs 60 crore in the same quarter of the 2014-15 fiscal.
During the January-March quarter of the 2015-16 fiscal, the company's total income from operations rose to Rs 1,115 crore from Rs 1,081.36 crore in year-ago period, according to SRF's BSE filing.
The company has posted 40 per cent growth in consolidated net profit at Rs 423 crore for the fiscal ended March, as compared to Rs 302.81 crore net profit in the previous year.

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Managing director Ashish Bharat Ram said despite a weak economic environment globally, its innovation-driven approach could turnaround its global operations leading to better overall numbers.

Segment wise sales from its chemicals and polymers business grew 23 per cent to Rs 1,555 crore while its overseas units of packaging films business grew more than 200 per cent from Rs 64 crore in FY15 to Rs 193 crore in FY16.
Technical textiles business declined 14 per cent at Rs 1,746 crore during the year due to low crude prices coupled with the disruption of production in one its major manufacturing units at Manali during the Chennai floods in December 2015.

The consolidated net debt to equity ratio improved from 0.99 as of March 2015 to 0.74 as of March 2016, the company said but did not quantify how much is the debt.
The board approved a capex Rs 269 crore to set up a BOPP film line and a metallizer at Indore.
"With a maiden domestic entry into the space of BOPP films, SRF aims to emerge as a 'one stop shop' for its customers. The proposed project will be the second BOPP unit for SRF, the first one was set up in Durban in South Africa in 2012. The project is scheduled to be commissioned in the last quarter of FY18," Ram said.