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Speciality Chemicals company SRF announced consolidated Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• The consolidated revenue of the company declined 6% from Rs 3,778 crore to Rs 3,570 crore in Q4FY24 when compared with Corresponding Period Last Year (CPLY).
• The company’s Earnings before Interest and Tax (EBIT) decreased 27% from Rs 840 crore to Rs 616 crore in Q4FY24 when compared with Corresponding Period Last Year (CPLY).
• The company’s Profit after Tax (PAT) decreased 25% from Rs 562 crore to Rs 422 crore in Q4FY24 when compared with Corresponding Period Last Year (CPLY).
• The Chemicals Business reported a decline of 14% in its segment revenue from Rs 2,102 crore to Rs 1,816 crore during Q4FY24 over Corresponding Period Last Year (CPLY).
• The operating profit of the Chemicals Business decreased 33% from Rs 739 crore to Rs 498 crore in Q4FY24 over Corresponding Period Last Year (CPLY).
• The Packaging Films Business reported an increase of 3% in its segment revenue from Rs 1,153 crore to Rs 1,182 crore during Q4FY24 when compared with Corresponding Period Last Year (CPLY).
• The operating profit of the Packaging Films Business decreased 19% from Rs 41 crore to Rs 33 crore in Q4FY24 over Corresponding Period Last Year (CPLY).
• The Technical Textiles Business reported an increase of 9% in its segment revenue from Rs 431 crore to Rs 469 crore during Q4FY24 over Corresponding Period Last Year (CPLY).
• The operating profit of the Technical Textiles Business increased 44% from Rs 48 crore to Rs 70 crore in Q4FY24 over Corresponding Period Last Year (CPLY).
• The Other Businesses reported an increase of 13% in its segment revenue from Rs 94 crore to Rs 106 crore in Q4FY24 when compared with Corresponding Period Last Year (CPLY).
• The operating profit of the Other Businesses increased 37% from Rs 11 crore to Rs 16 crore in Q4FY24 over Corresponding Period Last Year (CPLY).

FY24 Financial Highlights:

• In FY24, SRF’s revenue decreased 12% from Rs 14,870 crore to Rs 13,139 crore over Corresponding Period Last Year (CPLY).
• The company’s EBIT decreased 31% from Rs 3,193 crore to Rs 2,201 crore over Corresponding Period Last Year (CPLY).
• The company’s PAT decreased 38% from Rs 2,162 crore to Rs 1,336 crore over Corresponding Period Last Year (CPLY).

Commenting on the results, Chairman and Managing Director, Ashish Bharat Ram said, “While the general performance has been weak, we have seen a reasonable recovery in our Chemicals Business in the fourth quarter, as we had envisaged. We believe that this recovery will pick up pace in the second half of FY25.”

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