The company has done well and now during the fourth quarter ended 31st March 2009, the company reported a profit after tax (PAT) of Rs 21 crore compared with Rs 1 crore PAT recorded during the corresponding period in the previous year. It had a net sales of Rs 408 crore during the fourth quarter. This Q4 performance also includes that of two new businesses, the Engineering Plastics Business and the I
For the whole year 2008-09, the company’s PAT improved by 18% to Rs. 163 crore on a net sales of Rs.1800 crore, up 11%. This rise was despite the Rs.81 crore it lost on account of fluctuations in forex rates.
The positive turning in favour of the company is that demand for its TTB started picking up from March onwards. The company has also completed the buy back, that commenced last year, of shares of the company for Rs. 70 crore from the open market in April this year. The average price of the buy back shares worked at Rs.94.83/- per share as against the approved price of Rs. 160/- per share.
SRF also made two foreign acquisitions during the year - one in Thailand and the second one in South Africa.
Currently quoted at Rs.89, the stock has been steady for over a month now. It is on a bounce back track, stay invested.