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For the Specialty Chemicals business, SRF’s management said that it anticipates agri demand to be good in the ongoing quarter and that will lead to a significant improvement in comparison to the December quarter.
The management also said that the product funnel for the chemicals business remains strong.
Revenue for the chemicals business had increased by 7% during the December quarter, in comparison to the same period last year.
Higher HFC volumes will also contribute to a significant improvement for the fluorochemicals business in the fourth quarter, according to SRF’s management.
Although the demand-supply imbalance in the packaging films business will remain, it will improve in comparison to the earlier quarters.
“During the quarter, the Specialty Chemicals Business continued to experience some overhang of inventory build-up among agrochemical customers. However, there appears to be a gradual increase in demand,” SRF said in its earnings statement.
SRF maintained a strong position within the packaging industry, although margins in Aluminium Foil experienced pressure due to lower-cost imports from China and Thailand.
“Building on the momentum, we expect to finish the year on a reasonably strong footing.” SRF Chairman and MD, Ashish Bharat Ram said.
Shares of SRF are trading 4.1% higher at ₹2,744.8. The stock made a 52-week high in today’s trading session.
First Published: Jan 30, 2025 1:09 PM IS
