SRF Q4 Review - Healthy Quarter Led By Chemicals, Packaging: Dolat Capital

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Dolat Capital Report

SRF Ltd. reported a healthy set of Q4 FY21 financials, sales/Ebitda/profit after tax grew by 40.4/63.3/96.5% YoY to Rs 26/6.3/3.8 billion respectively.

Strong operative leverage helped Ebitda margin increase of 340 basis points YoY to 24.3%, gross margins however seem to have declined by 60 basis points YoY to 50.0%.

Profit after tax growth of 96.5% was fuelled by strong operating performance and lower interest costs of Rs 262 million, down by 44% YoY.

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