SRF Limited., an industrial and specialty intermediates manufacturer announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company’s net profit increased 78% to Rs 315.2 crores for the period ended September 30, 2020 as against net profit of Rs 177.09 crores for the previous quarter.
Net sales grew 36% to Rs 2100.83 crores during the period ended September 30, 2020 as compared to Rs 1545.15 crores during the previous quarter.
Q2 Results- YoY
The company’s net profit grew 4.7% to Rs 315.2 crores for the period ended September 30, 2020 as against net profit of Rs 301.13 crores for the prior-year quarter.
Net sales increased 20.9% to Rs 2100.83 crores during the period ended September 30, 2020 as compared to Rs 1737.8 crores during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit marginally increased 0.4% to Rs 492.29 crores for the 6 months period ended September 30, 2020 as against net profit of Rs 490.35 crores for the prior-year 6 months period.
Net sales grew 4.1% to Rs 3645.98 crores during the 6 months period ended September 30, 2020 as compared to Rs 3501.09 crores during the prior-year 6 months period.
Segment-Wise Q2 Results- YoY
Chemicals Business segement sales were up 30% to Rs 881 crore as compared to Rs 678 crore in the corresponding period of the previous year.
The Specialty Chemicals Business reported a robust performance on the back of higher capacity utilization of dedicated and multipurpose plants, which led to better operating leverages and the expansion of overall margins. Sales of the Fluorochemicals Business remained muted owing to weak demand for refrigerants from the automobile and airconditioning segments and low prices of refrigerants globally.
Packaging Films Business segement sales were up 26% to Rs 833 crore as compared to Rs 663 crore in the corresponding period of the previous year.
The Packaging Films Business performed exceedingly well with expanded margins when compared with corresponding period of the previous year, and better capacity utilizations post the commissioning of BOPET film capacities in Thailand and Hungary.
“We have had an outstanding quarter by all standards led by our Packaging Films and Specialty Chemicals businesses. Going forward, the margins of the Packaging Films Business will soften. Having said that, I am confident that the momentum in our other businesses will ensure that we have a good year,” Managing Director, Ashish Bharat Ram said.