SRF Limited Q2FY22 revenue grows by 35% to Rs 28.43bn
SRF Limited, an Indian industrial and specialty intermediates manufacturer, has reported consolidated revenue of INR 2,843 crores in the second quarter of the fiscal year 2022 (Q2FY22), a 35% increase from INR 2,101 crores in the same quarter of the previous fiscal year.
The profit after tax (PAT) of the chemical based multi-business entity surged 21% from INR 316 crore in Q2FY21 to INR 383 crore for the quarter ended 30 September 2021.
The chemicals business of SRF Limited posted a year-over-year (YoY) increase of 28% in its revenue to INR 1,126 crores during Q2FY22. Its operating profit was up by 44% YoY to ₹251 crore in Q2FY22.
SRF Limited said that its packaging films business saw a YoY increase of 29% in its revenue to INR 1,076 crores in Q2FY22. The segment’s operating profit dropped by 27% YoY to INR 181 crores in Q2FY22.
The technical textiles business of SRF Limited posted a 68% YoY increase to INR 558 crores during Q2FY22. The segment’s operating profit on the other hand surged 165% YoY to INR 133 crores in Q2FY22.
Ashish Bharat Ram — SRF Limited Managing Director said: “This has been another good quarter for the company. Although we have witnessed an increase in prices of key raw materials and logistics costs due to many domestic and international factors, and despite various challenges linked to COVID-19 and supply chain disruptions, we were able to deliver good numbers.”
In July 2021, SRF Limited said that its board had approved a project for expanding its capacity for fluorocarbon refrigerant gas at its Dahej chemical complex in Gujarat with an investment of INR 550 crores.