EBIT also rose by 16% from Rs254cr in Q1FY20.
Ashish Bharat Ram, Managing Director said, “The Chemicals Business was negatively impacted due to a slower than expected recovery, post our Dahej site closure in April 2019. Having said that, our Packaging Films Business had an excellent quarter. The Technical Textiles Business was impacted negatively due to lower offtake by customers. Going forward, we remain optimistic that our diversified model will hold us in good stead.”
The board has approved project for setting up of an integrated facility for the development of PTFE at an estimated cost of Rs424cr.
SRF Ltd is currently trading at Rs2,876.90 up by Rs298.45 or 11.57% from its previous closing of Rs2,578.45 on the BSE.
The scrip opened at Rs2,638.85 and has touched a high and low of Rs2,887.85 and Rs2,638.85 respectively.