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Tuesday, December 13, 2011

SRF Ltd:-Buy/sell/growth prospects and recommendation,news and results,target and analysis,view and outlook,multibagger

Scripscan:SRF Ltd

Story:SRF Limited manufactures and sells technical textiles, chemicals, packaging films, and engineering plastics in India and internationally. The company’s technical textile products include tire cord fabrics for use as reinforcement material in cycle, passenger car, light commercial vehicles, heavy commercial vehicles, tractor, and off-the-road tires; belting fabrics for use as reinforcement material in conveyor belts and other mechanical rubber goods; coated fabrics for use in a range of applications, including protective covers, dynamic tarpaulins, static covers, auto-canopies, and awnings; nylon and polyester industrial yarns and twines for conveyor belts, transmission belts, hoses, ropes, geo-textile applications, fishing nets, and stitching threads; and laminated fabrics for hoardings, banners, and signages. Its chemical products comprise chlorodifluoromethane for residential and light commercial air conditioning applications; HFC 134a, refrigerant; chloromethanes; and fluorospecialities. The company also provides packaging films, such as bi-axially oriented poly-ethylene terephthalate films, as well as offers engineering plastics consisting of polyamide 6 and polyamide 66 engineering resins under the TUFNYL brand; polybutylene terephthalate engineering resins under the TUFBET brand; and polycarbonate engineering resins under the TUFPC brand. It provides engineering plastic products for various markets, including automobiles, electrical and electronics, telecom, railways, and consumer markets. SRF Limited. The company was formerly known as Shri Ram Fibres Ltd. and changed its name to SRF Limited in 1990. Exchange rate fluctuations pulled down the profits of the company for Q2FY12. It reported a 12% fall in net profit at Rs 107 crore. Though topline rose 22% at Rs.914 crore, forex loss of Rs.34 crore did it in. Its PBT before forex loss was up 22% at Rs.217 crore.The chemicals business has ensured a strong performance by the company. The company has warned though that the effects of the slowdown have started to show and it expects both volumes and margins to be adversely affected in the near future. SRF has equity capital of Rs. 59.41 crore. Face value per share is Rs. 10.The company declared an interim dividend of Rs. 7 per share for the year ending March 2012. The company also earned carbon credits worth Rs.305 crore during the quarter. The falling rupee will have an impact on the earnings in Q3.

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