SRF Limited reports 14% decline in consolidated sales in Q1FY24, approves interim dividend of 36 per cent
Chemical company SRF Limited reported a 14% decrease in consolidated sales, a 37% decrease in EBIT, and a 41% decrease in PAT for Q1FY24 compared to the same period last year. The Packaging Films Business saw a 27% decline in revenue, while the Chemicals Business saw a 4% decline.
Q1FY24 Quarterly Result Announced for SRF Ltd.
Specialty Chemicals company SRF announced Q1FY24 results: Consolidated revenue of the company declined 14% from Rs 3,895 crore to Rs 3,338 crore in Q1FY24 when compared with Q1FY23. The company’s Earnings before Interest and Tax (EBIT) decreased 37% from Rs 938 crore to Rs 595 crore in Q1FY24 when compared with Q1FY23. The company’s Profit after Tax (PAT) decreased 41% from Rs 608 crore to Rs 359 crore in Q1FY24 when compared with Q1FY23. The Board has approved a project to expand the capacity of Anhydrous Hydrogen Chloride (AHCL) that finds application in pharma intermediates at Dahej at a projected cost of Rs 16.08 crore. The board of directors has approved an interim dividend at the rate of 36 percent, amounting to Rs 3.60 per share was approved. As of June 30, 2023, the company has applied for a total of four hundred and eight patents. To date, the company has been granted one hundred and thirty-nine patents globally. Commenting on the results, Chairman and Managing Director, Ashish Bharat Ram said, “While we have seen a significant drop in our profits, a large portion is attributable to the expected downcycle of the Packaging Films Business. This is expected to continue for the medium term. The Chemicals Business has been affected by lower sales in our Fluorochemicals Business due to a very mild summer and general weakness in the industrial chemicals segment. The Specialty Chemicals Business has performed as per our expectations with growth over the last year. Having said that, as everyone knows, there is a lot of inventory unwinding going on globally and this will have some impact on the business in the next couple of quarters. On the positive side, the longer-term projects remain on track, and we expect to keep our capex momentum intact.” Result PDF SRF LTD. - 503806 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release SRF LTD. - 503806 - Board Meeting Outcome for Declaration Of 1St Interim Dividend-2023-24
We wish to inform you that the Board of Directors at its meeting held on 24th July, 2023 has declared interim dividend @ 36% i.e. Rs. 3.60 per share on the paid-up equity share capital of the Company. The Interim Dividend would be paid to members whose names appear on the Register of Members and the beneficial owners as per details received from National Securities Depository Limited and Central Depository Services (India) Limited, as on the Record Date i.e. Tuesday, the 01st August 2023 which has already been communicated to Exchanges by letter dated 17th July, 2023. The date of payment of interim dividend will be Tuesday, 22nd August, 2023. SRF LTD. - 503806 - Unaudited Financial Results For The Quarter Ended 30.06.2023 Alongwith Limited Review Report For The Quarter Ended 30.06.2023
Unaudited Financial Results SRF LTD. - 503806 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Issue of Duplicate Share Certificate and Trade Approval SRF LTD. - 503806 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
In compliance with the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that SRF Ltd. will participate in an investor and analyst conference call on Tuesday, July 25, 2023, from 03:00 IST. This call will be hosted by Investec India. Mr. Rahul Jain, President & Chief Financial Officer will represent SRF on the call. The conference call will be initiated with a brief management discussion on the Q1 FY24 results which will be declared on Monday, July 24, 2023, followed by an interactive Question & Answer session. SRF LTD. - 503806 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Certificate under Regulation 74(5) of SEBI (DP) Regulations 2018 SRF LTD. - 503806 - Corporate Action-Board to consider Dividend
Board Meeting to consider dividend
