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SRF LTD.

SHARE HOLDING PATTERN


Category
Promoters
Indian Promoters
Skylark Invest.& Trading Pvt Ltd
Narmada Farms Pvt Ltd
Bhairav Farms Pvt Ltd
SRF Polymers Ltd.
Foreign Promoters
Shak Investments Ltd
Palma Holdings Ltd
Persons acting in Concert
DCM Shriram Consolidated Ltd
Sub Total
Institutional Investors
Mutual Funds and UTI
Unit Trust
of India
Banks,Financial
Inst,Insurance Companies
IDBI
IFCI Ltd
LIC
ICICI Ltd
Oriental
Insurance
Company
Ltd
New
India
Assurance
Company
Ltd
FIIS
Sub Total
Others
Private Corporate Bodies
Nerul Impex Pvt Ltd
Suryalok
Marketing
Pvt Ltd
SRF Employees
Welfare
Company Ltd
Indian Public
Ravi K Sinha
NRIs/OCBs
Others
Sub Total
Grand Total

Shares Held

31.12.02
% of Share
Holding
Change

18261212
8543697
1430500
1621850
6419666
18015713
2163000
1375000
788000

28.30
13.24
2.22
2.51
9.95
27.92
3.35
2.13
1.22

19815123

30.71

8381768
7944546
11189327
3483924
1560192
1924997
1692192
818190
774783
2800
19571717

12.99
12.31
17.34
5.40
2.42
2.98
2.62
1.27
1.20
0.00
30.33

3577857

5.54

20758116
1158422
190809
1200
24527982
64526089

32.17
1.80
0.30
0.00
38.01
100.00

Shares Held

31.03.03
% of Share
Holding
Change

0.9
18261212
28.30
0.0
8543697
13.24
(0.0)
1430500
2.22
0.0
1621850
2.51
0.9
6419666
9.95
0.9
18015713
27.92
0.0
2163000
3.35
0.0
1375000
2.13
0.0
788000
1.22
(0.0)
19815123
30.71
(0.0)
2494193
3.87
0.0 figure not available.
0.0
17063872
26.44
(0.0)
3483924
5.40
(0.0)
1560192
2.42
0.0
1924997
2.98
0.0
1692192
2.62
(0.0)
818190
1.27
0.0
774783
1.20
0.0
2800
0.00
0.0
19571717
30.33
(0.9)
3634485
5.63
(0.0)
20681086
32.05
(0.0)
1158422
1.80
(0.0)
190818
0.30
0.0
1200
0.00
(0.9)
24527982
38.01
64526089
100.00

(9.1)
9.1
0.1
(0.1)
0.0
-

Note: In share holding pattern submitted to Mumbai Stock Exchanges as on 31.03.03 ,UTI and Mutual Fund holding
came down remarkably by 9.1% and bank /FI/Insurance companies gross holding increased with same .
Individual increase is not available at the same time UTIs holding is also not given separately.

SRF LTD.- Quarterly Results


SEGMENTAL ANALYSIS
(PERIOD)
Revenue
Tyre Cord Fabric
Chemical(Refrigerant Gases)
Others
Total
Less: Inter segmental
Net Revenue
EBIT
Tyre Cord Fabric
% of sales
Chemical & Gases)
% of sales
Others
% of sales
Total -EBIT
% of sales
Less:
Interest
Other Exp.
PBT

200203
12M

200206
3

200209
3

200212
3

200212
9

200112 % Change
9
9

200303
3(Est.)

200303
12(Est.)

403.12
157.83
72.71
633.66
16.12
617.54

113.33
53.85
20.79
187.97
9.98
177.99

127.54
40.32
22.41
190.27
9.75
180.52

123.01
30.65
23.64
177.30
4.01
173.29

352.65
124.82
66.83
544.30
12.50
531.80

293.93
117.95
52.20
464.08
11.63
452.45

19.98
5.82
28.03
17.29
7.48
17.54

126.00
25.00
24.00
175.00
4.00
171.00

478.65
149.82
90.83
719.30
16.50
702.80

60.49
15.01
53.65
33.99
3.67
5.05
117.81
18.59

12.82
11.31
23.40
43.45
1.44
6.93
37.66
21.16

20.47
16.05
14.76
36.61
0.58
2.59
35.81
19.84

17.68
14.37
7.23
23.59
0.53
2.24
25.44
14.68

50.97
14.45
45.39
36.36
2.55
3.82
98.91
18.60

43.13
14.67
41.58
35.25
4.69
8.98
89.40
19.76

18.18
(1.50)
9.16
3.15
(45.63)
(57.53)
10.64
(5.87)

18.50
14.68
5.00
20.00
0.60
2.50
24.10
14.09

69.47
29.14
50.39
56.36
3.15
6.32
123.01
17.50

54.72
26.05
80.77
37.04

10.81
7.29
18.10
19.56

11.57
5.12
16.69
19.12

10.11
4.41
14.52
10.92

32.50
16.83
49.33
49.58

43.49
22.89
66.38
23.02

(25.27)
(26.47)
(25.69)
115.38

9.80
2.50
12.30
11.80

42.30
19.33
61.63
61.38

SRF LTD.- Quarterly Results


PERIOD
200206 200209 200212
in Rs crs
Qtr
Qtr
Qtr
Operating Rev
177.99
180.52
173.29
Cost Of Goods Sold
137.15
140.67
141.62
Operating Profit
40.84
39.85
31.67
% of Operating Rev.
22.95
22.08
18.28
Other income
1.85
2.04
1.61
EBIDTA
42.69
41.89
33.28
Interest
10.81
11.57
10.11
Depreciation
12.32
11.2
12.25
PBT
19.56
19.12
10.92
% of sales
10.99
10.59
6.30
Tax
1.3
1.25
0.82
PAT before def.tax prov.
18.26
17.87
10.10
Deffered Tax Liability
5.86
5.79
3.58
PAT-After defered tax prv.
12.40
12.08
6.52
Cash Profit
30.58
29.07
22.35
Equity
65.54
65.54
65.54
EPS (Annualised)
11.1
10.9
6.2
CEPS (Annualised)
18.7
17.7
13.6
NOTE: EPS CALCULATED ON PAT BEFORE DEF.TAX PROV.

200303
Qtr
189.1
163.25
25.85
13.67
5.53
31.38
9.72
12.31
9.35
4.94
0.71
8.64
2.9
5.74
20.95
65.54
5.3
12.8

200306
Qtr
209.48
170.53
38.95
18.59
2.94
41.89
7.13
12.18
22.58
10.78
1.57
21.01
7.33
13.68
33.19
65.54
12.8
20.3

200303
12M
720.9
588.3
132.61
18.4
12.6
145.3
42.2
48.1
55.0
7.6
3.8
51.2
19.3
31.9
99.3
65.54
7.8
15.1

200403
12M(Est)
770.00
637.00
133.00
17.27
12.00
145.00
28.00
48.08
68.92
8.95
5.00
63.92
19.31
44.61
112.00
65.54
9.75
17.09

SEGMENTAL ANALYSIS
(PERIOD)
Revenue
Tyre Cord Fabric
Chemicals
Others
Total
Less: Inter segmental
Net Revenue
EBIT
Tyre Cord Fabric
% of sales
Chemical
% of sales
Others
% of sales
Total -EBIT
% of sales
Less:
Interest
Other Exp.

200306
3

PBT

200203
12M

200303
12M

200206
3

200209
3

200212
3

200303
3

403.12
157.83
72.71
633.66
16.12
617.54

480.40
168.13
88.54
737.07
16.17
720.90

113.33
53.85
20.79
187.97
9.98
177.99

127.54
40.32
22.41
190.27
9.75
180.52

123.01
30.65
23.64
177.30
4.01
173.29

127.75
43.31
21.71
192.77
3.67
189.10

131.31
57.02
22.43
210.76
1.28
209.48

60.49
15.01
53.65
33.99
3.67
5.05
117.81
18.59

68.99
14.36
52.04
30.95
(2.25)
(2.54)
118.78
16.48

12.82
11.31
23.40
43.45
1.44
6.93
37.66
21.16

20.47
16.05
14.76
36.61
0.58
2.59
35.81
19.84

17.68
14.37
7.23
23.59
0.53
2.24
25.44
14.68

18.02
14.11
6.65
15.35
(1.72)
(7.92)
22.95
12.14

16.40
12.49
17.00
29.81
(0.42)
(1.87)
32.98
15.74

54.72
26.05
80.77
37.04

42.22
21.61
63.83
54.95

10.81
7.29
18.10
19.56

11.57
5.12
16.69
19.12

10.11
4.41
14.52
10.92

9.72
3.88
13.60
9.35

7.13
3.27
10.40
22.58

Sales Break up
Product
Nylon Tyre Cord Fabric
Refrigerant Gases
Chloromethane
Others
Total

SEGMENTAL ANALYSIS
(PERIOD)
Revenue
Tyre Cord Fabric
Chemicals
Others
Total
Less: Inter segmental
Net Revenue
EBIT
Tyre Cord Fabric
% of sales
Chemical
% of sales
Others
% of sales
Total -EBIT
% of sales
Less:
Interest
Other Exp.
PBT

Value
(Rs.in crs)
554.52
125.77
38.67
31.74
750.70

% of
sales
73.87
16.75
5.15
4.23
100.00

200203
12M

200303
12M

200206
3

200209
3

200212
3

200303
3

200306
3

403.12
157.83
72.71
633.66
16.12
617.54

480.40
168.13
88.54
737.07
16.17
720.90

113.33
53.85
20.79
187.97
9.98
177.99

127.54
40.32
22.41
190.27
9.75
180.52

123.01
30.65
23.64
177.30
4.01
173.29

127.75
43.31
21.71
192.77
3.67
189.10

131.31
57.02
22.43
210.76
1.28
209.48

60.49
15.01
53.65
33.99
3.67
5.05
117.81
18.59

68.99
14.36
52.04
30.95
(2.25)
(2.54)
118.78
16.48

12.82
11.31
23.40
43.45
1.44
6.93
37.66
21.16

20.47
16.05
14.76
36.61
0.58
2.59
35.81
19.84

17.68
14.37
7.23
23.59
0.53
2.24
25.44
14.68

18.02
14.11
6.65
15.35
(1.72)
(7.92)
22.95
12.14

16.40
12.49
17.00
29.81
(0.42)
(1.87)
32.98
15.74

54.72
26.05
80.77
37.04

42.22
21.61
63.83
54.95

10.81
7.29
18.10
19.56

11.57
5.12
16.69
19.12

10.11
4.41
14.52
10.92

9.72
3.88
13.60
9.35

7.13
3.27
10.40
22.58

PROFIT & LOSS A/C

199903

200003

200103

200203

200303

Sales Turnover
Excise Duty
Net Sales
Cost of goods sold
Operating Profit
% of sales
Other Income
EBIDTA

689.63
119.37
570.26
426.56
143.7
25.20
12.07
155.77

802.27
137.17
665.1
516.82
148.28
22.29
11.64
159.92

795.37
123.26
672.11
536.62
135.49
20.16
17.37
152.86

750.7
133.16
617.54
487.1
130.44
21.12
9.5
139.94

879.1
158.2
720.9
588.31
132.59
18.39
12.64
145.23

Interest & Financial Charges


PBDT
Depreciation
PBT
Tax
PAT before Deferred Tax Prov.
Prov.for Def.tax
PAT
Cash Profit
Equity
EPS (Annulised)
CEPS (Annulised)
Equity Dividend (%)

104.14
51.63
36.61
15.02
1.49
13.53
0
13.53
50.14
62.7
2.16
8.00
0

91.17
68.75
37.5
31.25
4.45
26.8
0.00
26.8
64.3
64.66
4.14
9.94
15

75.13
77.73
40.29
37.44
2.29
35.15
0.00
35.15
75.44
65.54
5.36
11.51
20

56.46
83.48
46.44
37.04
1.93
35.11
7.82
27.29
81.55
65.54
5.36
12.44
20

42.22
103.01
48.07
54.94
3.75
51.19
19.31
31.88
99.26
65.54
7.81
15.14
20

BALANCE SHEET

199903

200003

200103

200203

200303

62.7
217.25
142.08
0
422.03
431.08
33.28
464.36
886.39

64.66
243.9
129.41
0
437.97
354.6
37.15
391.75
829.72

65.54
235.63
87.24
0
388.41
362.91
39.82
402.73
791.14

65.54
235.16
79.55
44.62
424.87
314.76
35.4
350.16
775.03

65.54
263.91
71.13
63.91
464.49
246.92
20.84
267.76
732.25

815.14
255.69
559.45
17.5
108.3

830.61
303.96
526.65
5.2
124.62

892.59
320.36
572.23
39.67
91.23

949.11
370.27
578.84
4.11
99.44

966.1
423.26
542.84
2.86
94.65

61.53
89.36
16.7
163.07

73.93
98.42
20.36
175.64

85.81
81.63
20.88
53.89

76.4
87.97
18.72
45.23

103.96
74.35
25.58
49.13

127.05
2.47
201.14
0
886.39

181.3
13.8
173.25
0
829.72

139.14
15.06
88.01
0
791.14

118.22
19.03
91.07
1.57
775.03

143.54
18.24
91.23
0.67
732.25

199903

200003

200103

200203

200303

25.20
2.16
8.00
0.64
13.44
3.21
1.10
47.30
67.31
-

22.29
4.14
9.94
0.80
14.75
6.12
0.89
44.78
67.73
15.00

20.16
5.36
11.51
0.85
14.23
9.05
1.04
37.46
59.26
20.00

21.12
5.36
12.44
0.80
12.06
8.26
0.82
42.77
64.83
20.00

18.39
7.81
15.14
0.98
13.27
11.02
0.58
30.87
70.87
###

199903

200003

200103

200203

SOURCES OF FUNDS :
Share Capital
Reserves & Surplus
Revalution Reserve
Deff.Tax Liab.
Total Shareholders Funds
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
APPLICATION OF FUNDS :
Gross Block
Less : Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Current Assets, Loans & Advances
Inventories
Sundry Debtors
Cash and Bank Balance
Loans and Advances
Less : Current Liab. & Prov.
Current Liabilities
Provisions
Net Current Assets
Miscellaneous Expenses not w/o
Total Assets
KEY INDICATORS
OPM%
EPS
CEPS
Capital Employed Turnover ratio
RoCE( PBIT/CE)%
RoNW(PAT/Networth)%
Debt / Equity Ratio
Debt Collection period
BV
Div.paid %

Sources of funds
Cash profit
Increase in equity
Increase in other networth-Share Prem.
Increase in loan funds
Decrease in gross block
Decrease in investments
Decrease in working capital
Others
Total
Application of funds
Decrease in networth
Decrease in loan funds
Increase in gross block
Increase in investments
Increase in working capital
Dividend
Others
Total

50.14
22.63
24.65
0
4.92
0
6.76
0
109.1

64.3
1.96
10.18
0
0
0
27.89
0
104.33

75.44
0.88
0
10.98
0
33.39
85.24
0
205.93

81.55
0
0
0
0
0
0
17.73
99.28

0
88.75
0
15.48
0
0.15
4.72
109.1

0
72.61
3.17
16.32
0
10.33
1.9
104.33

71.41
0
96.45
0
0
14.18
23.89
205.93

0
52.57
20.96
8.21
3.06
12.91
1.57
99.28

200203
Consolidated
843.51
133.16
710.35
567.8
142.55
20.07
8.41
150.96
57.32
93.64
57.02
36.62
2.11
7.82
26.69
91.53
65.54
4.07
13.97
200203
Consolidated
65.54
193.52
79.55
44.61
383.22
346.93
35.4
382.33
765.55
1038.66
404.98
633.68
4.23
13.73
93.29
96.23
21.58
47.26
126.21
19.81
112.34
1.57
765.55
200203
Consolidated
20.07
4.07
13.97
0.93
12.27
9.01
1.00
41.64
58.47

PROFIT & LOSS A/C (Rs. In crs.)


Sales Turnover
Excise Duty
Net Sales
Cost of goods sold
Operating Profit
% of sales
Other Income
EBIDTA

199903
689.63
119.37
570.26
426.56
143.7
25.20
12.07
155.77

200003
802.27
137.17
665.1
516.82
148.28
22.29
11.64
159.92

200103
795.37
123.26
672.11
536.62
135.49
20.16
17.37
152.86

200203
750.7
133.16
617.54
487.1
130.44
21.12
9.5
139.94

Interest & Financial Charges


PBDT
Depreciation
PBT
Tax
Prov.for Def.tax
PAT
Cash Profit
Equity
EPS (Annulised)
CEPS (Annulised)
BALANCE SHEET
SOURCES OF FUNDS :
Share Capital
Reserves & Surplus
Revalution Reserve
Deff.Tax Liab.
Total Shareholders Funds
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
APPLICATION OF FUNDS :
Gross Block
Less : Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Current Assets, Loans & Advances
Inventories
Sundry Debtors
Cash and Bank Balance
Loans and Advances
Less : Current Liab. & Prov.
Current Liabilities
Provisions
Net Current Assets
Miscellaneous Expenses not w/o
Total Assets
KEY INDICATORS
OPM%
EPS
CEPS
Capital Employed Turnover ratio
RoCE( PBIT/CE)%
RoNW(PAT/Networth)%
Debt / Equity Ratio
Debt Collection period
BV
Div.paid %

104.14
51.63
36.61
15.02
1.49
0
13.53
50.14
62.7
2.16
8.00
199903

91.17
68.75
37.5
31.25
4.45
0.00
26.8
64.3
64.66
4.14
9.94
200003

75.13
77.73
40.29
37.44
2.29
0.00
35.15
75.44
65.54
5.36
11.51
200103

56.46
83.48
46.44
37.04
1.93
7.82
27.29
81.55
65.54
4.16
12.44
200203

62.7
217.25
142.08
0
422.03
431.08
33.28
464.36
886.39

64.66
243.9
129.41
0
437.97
354.6
37.15
391.75
829.72

65.54
235.63
87.24
0
388.41
362.91
39.82
402.73
791.14

65.54
235.16
79.55
44.62
424.87
314.76
35.4
350.16
775.03

815.14
255.69
559.45
17.5
108.3

830.61
303.96
526.65
5.2
124.62

892.59
320.36
572.23
39.67
91.23

949.11
370.27
578.84
4.11
99.44

61.53
89.36
16.7
163.07

73.93
98.42
20.36
175.64

85.81
81.63
20.88
53.89

76.4
87.97
18.72
45.23

127.05
2.47
201.14
0
886.39
199903
25.20
2.16
8.00
0.64
13.44
3.21
1.10
47.30
67.31
-

181.3
13.8
173.25
0
829.72
200003
22.29
4.14
9.94
0.80
14.75
6.12
0.89
44.78
67.73
15.00

139.14
15.06
88.01
0
791.14
200103
20.16
5.36
11.51
0.85
14.23
9.05
1.04
37.46
59.26
20.00

118.22
19.03
91.07
1.57
775.03
200203
21.12
4.16
12.44
0.80
12.06
8.26
0.82
42.77
64.83
20.00

199903

200003

200103

200203

Sources of funds

Cash profit

58.5

75.07

51.55

77.2

Increase in equity

22.63

1.96

0.88

Increase in other networth

24.63

9.16

10.98

Decrease in gross block

4.92

Decrease in investments

33.39

6.76

27.89

85.24

41.56

117.44

114.08

182.04

118.76

Cash loss

Decrease in networth

30.55

14.85

Decrease in loan funds

85.37

72.61

52.57

Increase in gross block

3.17

96.45

20.96

Increase in investments

15.48

16.32

8.21

Increase in loan funds

Decrease in working capital


Others
Total
Application of funds

Increase in working capital


Dividend
Others
Total

0.15

9.31

12.87

12.91

16.44

12.67

42.17

9.26

117.44

114.08

182.04

118.76

Subsidairy Name
Year
No Of Shares
Face Value (Unit Curr.)
Investment Cost
Holding (%)
Subsidiary's Year end
NP in Holding Co a/cs (PY)
NP not in Holding Co a/cs (PY)
NP in Holding Co a/cs (CY)
NP not in Holding Co a/cs (CY)
Equity Subscribed
Subsidiary 's Reserves
Fixed Assets
Net Current Assets
Sales Turnover
Profit After Tax
Product
Product
Product
Product

Tyrecord Fabric SRF Transnational SRF Overseas Ltd


200103
200103
200103
280621825
1124184
22893366
10
100
0
33.26
14.73
85.15
100
100
100
200103
200103
200103
0
0
0
-96.73
-2.51
-37.86
0
0
0
-16.7
0.38
5.23
280.62
11.24
0
-89.31
1.31
0
174.54
0
0
31.52
3.32
0
46.5
0.48
0
-16.7
0.38
0

SRF Intl (BVI) Ltd SRF Americas Inc


200103
200103
50000
1600000
0
0
1.57
5.62
100
100
200103
200103
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

KEY FINANCIAL DATA OF TYRE CORD FABRICS LTD.


( DUPONT FIBRES LTD.)
PARTICULARS
(Rs. In Crs.)

FY

FY
2000

2001

Net Sales
PBIDT
Finance Charges
Depreciation
PAT

72.91
-21.39
0.5
16.64
-38.53

44.5
0.05
0.36
16.39
-16.7

Equity
Reserves-share premium a/c
Accumulated loss
Total Loans
Total Capital Employed
Fixed Assets (Net)
Net Current Assets
Installed capacity(in MT.)
Capacity utilisation
Product -Nylon Tyre Cord fabric

280.62
24.11
-96.72
0
208.01
187.55
20.46
6500

280.62
24.11
-113.42
14.75
206.06
174.53
31.52
6500

nil

nil

Investments Details
Quoted
DCM Shriram Consolidated
IFCI
HDFC
Unquoted
Subsidiaries & JVs
SRF Overseas Ltd.,Dubai
SRF Americas,Inc.
Essilor SRF Optics Limited
Indian Ophthalmic Lenses
SRF Properties Pvt.Ltd
Others
SBL Industries LtdSBI
Canara bnk.
Sanghi Spinners Ltd.
US 64
Grand Total ( Rs. In crs.)

Quantity
Equity Shares
Equity Shares
Equity Shares

40000
500000
1490

100%
100%
JV
JV
Sub.
Pref.Shares
Bonds of Rs.1000/-each
Bonds of Rs.1000/-each
Units

Value
0.20
0.31
0.08
0.59
85.15
2.42
0.49
0.58
5.90
94.54

2500
100
670000
2453524

2.50
0.25
0.01
0.12
2.88
1.43
99.44

SUBSIDIARIES
NAMES

Investment

P&L -FY 2001

Holding

Currency Revenue
31
Rs. In Crs.

SRF Overseas Ltd.,Dubai

100%

Accumulated
Profit/

Profit /Loss

Loss

till 31.03.01

31.03.02

85.15

Rs. In Crs.

85.15 mln.

87.08

4.12

-32.63

1744210

-88428

-9.26

44.5

-16.7

-113.42

33

470974

-2.33

0.68

0.38

-2.17

dirhams
SRF Americas,Inc.

100%

5.62

Tyre Cord Fabrics Ltd.

100%

33.26

SRF International (BVI) Ltd.

100%

1.57

100%

14.73

SRF Transnational Holdings


Shri Ram Bearings Ltd.

Pref.

2.42 In US $
0 Rs in Crs
0 In US $
0 Rs in Crs

24.75

Shares
SBL Industries Ltd-

Pref.Shares

Essilor SRF Optics Limited

JV

1.3

0.49

Indian Ophthalmic Lenses

JV

3.25

0.58

SRF Properties Pvt.Ltd

Sub.

5.9

Total

2.5

169.63

Nylon Tyre Cord Business


in Middle East ,European
& African Markets
Industrial Fabrics Division
Industrial Fabrics Business

Sales Breakup
Sr. Year ( In Rs.Crs.)
Mar-99 % of
No. Product Name
total sales
1 Nylon Tyre Cord / Industrial Yarn Fabric
Installed Capacity
21055
Production Quantity (In MT)
19032
Capacity utilisation In %
90.4
Sold Quantity
18660
Sales Amount
430.72
62.46
% growth YOY
Unit Realisation rate ( Rs. Per MT.)
2,30,832
2 Flurocarbon Refrrigerant Gas
Installed Capacity
25000
Production Quantity (In MT)
10544
Capacity utilisation In %
42.2
Sold Quantity
10957
Sales Amount
129.52
18.78
% growth YOY
Unit Realisation rate ( Rs. Per MT.)
1,18,212
3 Synthetic filament Yarn Industrial/Tyre
Installed Capacity
21500
Cord
Production Quantity (In MT)
3226
Capacity utilisation In %
15.2
Sold Quantity
3126
Sales Amount
6.65
45.83
% growth YOY
Unit Realisation rate ( Rs. Per MT.)
1,46,611
4 Polyster Films
Installed Capacity
3840
Production Quantity (In MT)
2349
Capacity utilisation In %
61.2
Sold Quantity
2340
Sales Amount
20.74
3.01
% growth YOY
Unit Realisation rate ( Rs. Per MT.)
88,630
5 Nylon Moulding Powder
Installed Capacity
2580
Production Quantity (In MT)
1976
Capacity utilisation In %
76.6
Sold Quantity
1979
Sales Amount
23.22
3.37
% growth YOY
Unit Realisation rate ( Rs. Per MT.)
1,17,332
6 Chloromethanes
Installed Capacity
18550
Production Quantity (In MT)
17284
Capacity utilisation In %
93.17
Sold Quantity
8012
Sales Amount
3.47
23.95
% growth YOY
Unit Realisation rate ( Rs. Per MT.)
29894
TOTAL SALES
673.98
7 Other Sales ( By Products /Wastes ) etc
14.12
2.05
8 Traded Goods
0.22
1.51
9 Conversion Income
TOTAL SALE
689.61 100.00

Mar-00

% of
Mar-01 % of
total sales
total sales

21055
21214
100.8
21484
489.98
13.76
2,28,071

61.07

25000
11396
45.6
11076
132.17
2.05
1,19,334

16.47

21500
2862
13.3
3424
62.56
36.50
1,82,709

7.80

3840
3268
85.1
3277
33.85
63.21
1,03,306

4.22

2580
2760
107
2748
38.89
67.48
1,41,496

4.85

18750
10770
57.44
10606
26.78
11.82
25249
784.23
18.04
0.00

55.45

25000
11145
44.6
11490
133.84
1.26
1,16,487

16.40

21500
4250
19.8
6596
94.58
51.18
1,43,395

11.59

4150
3532
85.1
3546
35.85
5.91
1,01,093

4.39

2580
2980
115.5
3014.41
41
5.43
1,36,013

2.25
0.00

22500
14553
64.68
13223
37.06
38.39
28028
794.74
15.88
5.33

100.00

815.95

3.34

802.27

21055
20758
98.6
21005
452.41
-7.67
2,15,390

5.02

4.54

1.95
0.65
100.00
0.0

MAJOR RAW MATERIAL


Mar.99

% of

% of

purch.

sales

Mar.00

% of

% of

purch.

sales

Mar.01

% of
purch.

1 Caprolactum
Quantity consumed

21250

Purchase Amt ( in Rs. Crs.)

159.59

Unit rate ( Rs. Per MT.)

75103

24342
58.3

28.0

189.08

23450
56.6

28.4

77677

197.32

49.9

84146

2 Many goods with details available

51.27

18.7

9.0

59.3

17.7

8.9

74.29

18.8

3 With no details available

62.98

23.0

11.0

85.73

25.7

12.9

123.45

31.2

Total

273.84

100.0

48.0

334.11

100.0

50.2

395.06

100.0

less : modvate credit availed

37.14

13.6

6.5

48.09

14.4

7.2

52.76

13.4

Cost of raw material consumed

236.7

86.4

41.5

286.02

85.6

43.0

342.3

86.6

Revised
Mar-01 % of
total sales
27555
20758
98.6
21832.23
469.16
668.18
214893.30
25000
11145
44.6
11323.74
133.84
712.41
118194.17
21500
4250
19.8
5428.19
77.42
892.83
142625.81
4150
3532
85.1
2520.8
25.34
500.58
100523.64
2580
2980
115.5
23.09
31.04
540.33
13443048.9

58.99

16.83

9.73

3.19

3.90

22500
14553
64.68
13223
4.66
37.06
1010.24
28026.92
773.86
1.16
9.26
0.67
5.33
6.91
795.36 100.00

% of
sales

Mar-02 % of
total sales

34055
28631
84.07
28650.7
554.52
900.11
193545.01
25000
11145
44.6
11266.97
125.76
666.69
111618.30
21500
4250
19.8
1355.39
13.93
20.18
102774.85
4150
3532
85.1
0
0
-100.00
#DIV/0!
2580
2980
115.5
0
0
-100.00
#DIV/0!

73.87

16.75

1.86

0.00

0.00

22500
14553
64.68
14629
5.15
38.67
751.40
26433.43
732.88
0.81
6.06
0.66
4.93
6.81
750.68 100.00

23900
28.5

151.2
63263.60

10.7
17.8
57.0
7.6
49.4

DEMAND SUPPLY SITUATION OF NTCF


DEMAND

SUPPLY

Unit (KTA)

CAPACITY

DEMAND

1998-99 1999-00 2000-01 1998-99 1999-00

Year

2000

2005

2000

2005

Domestic Tyre

46776

52311

50604

Global

1150

1208

913

1118

Export Tyre

9633

10284

Other Asia

341

341

246

314

9360
4335

4552

4800

China

211

211

145

185

India

63

80

62

82

Others

SURPLUS / SHORTFALL
2000-01 1998-99 1999-00 2000-01

Details of Contingent Liabilities


1 Liability on account of Bills Discounted
2 Claims not acknowledged as Debt
Excise Duty
Sales Tax
3 Show cause of additional excise/custom
duty
4 diversion Tax
5 stamp duty on acquiring Tyre cord div.
of Ceat
Penalty on above
6 Demand from SIPCOT for additional
land cost
7 Export obligation against concessional
Import of Capital goods
8 Gurantee provided for:
Shriram Needle Bearing
Total

Amount
(In Rs.crs.)
6.48
7.48
2.54
32.59
1.97
23.72
5.09
4.27
76.88
8.25
169.27

Management perception

Deposited 20 lacs, legally tenable,maturity of liability unlikly


Deposited 12 lacs, legally tenable,maturity of liability unlikly
Company has been advised that contention of deptt.is not
tenable hence demand is not sustainable.
For converting Agricultural land into industrial land,not sustainable
Filled case with High Court and stay been granted on
furnishing 1 crs.gurantee.

Taken up the matter with institution for waiver.

SRF LTD
SALES DATA ANALYSIS
YR.END 03 /98
INSTALLED

YR.END.03/99

QT.

CAP.

REALISATION

IN M.T

UTILISA

PER TON

SALES

TION(%)

IN RS.

AMT

CAPACITY

% OF
NET

QT.
INSTALLED

IN M.T

SALES CAPACITY

CORE FINISHED PRODUCT


Ny.Tyre Cord Fabric/Ind.Y.Fibr

21055

18136

86

227831

413

61.14 21055

18660

25000

7838

31

120182

94

13.94 25000

10957

% CHANGE
Flu.Carb.Refrig.Gas

2.89

% CHANGE
Synth.Filament Yarn

39.79
21200

4883

23

161056

79

11.64 21200

% CHANGE
Nylon Mould.Powder

2580

2149

83

128252

28

4.08 2580

% CHANGE
Polyester Film

% CHANGE

1979
-7.91

3840

1595

42

113142

18

2.67 3840

18550

6670

36

33959

23

3.35 18550

% CHANGE
Chloromethanes

3126
-35.98

2340
46.71

654

8012
20.12

NOTE:IN GENERAL SEEN THAT SELLING PRICES FIRMED UP IN YEAR 2000 & CAPCITY UTILISATION ALSO IMPROVED.

IN budget (01-02) custom duty CAPROLACUTM reduced from 25%t to 20%. LAST year's Budget(99-00), the basic customs duty
on nylon tyrecord fabricwas lowered from 40 per cent to 25 per cent and that of nylon tyre yarnfrom 35 per cent to 20 per cent.

YR.END.03/99

YR.END 03/00

CAP.

REALISATION

UTILISA

PER TON

SALES

NET

INSTALLED

TION(%)

IN RS.

AMT

SALES

CAPACITY

89

230832

sic customs duty

431

1.32
44

118212

15

146611

130

117331.99

46

88630

23

3.37 2580
-17.40

21

-21.66
43

6.65 21500
-42.87

-8.51
61

18.78 25000
34.72

-8.97
77

62.46 21055
2.16

-1.64

SATION ALSO IMPROVED.

cent to 20 per cent.

% OF

3.01 3840
12.73

29894

24

-11.97

674

QT.

CAP.

REALISATION

IN M.T

UTILISA

PER TON

SALES

NET

TION(%)

IN RS.

AMT

SALES

21484

102

15.13
11076

44
16
107

10606

3.58

32.38

132

16.47

-2.23

182710

-12.30
63

141496

85

103306

57

25249

7.8
17.29

39

20.59

40.04

3.47 18750

119335

24.62

38.86
3277

61.07

0.95

9.53
2748

490

-1.20

1.09
3424

228071

% OF

4.85
43.92

34

16.56

4.22
40.20

27

-15.54

3.34
-3.75

784.24

NOTES

SELLING RATES ARE STABLE WHILE QT.PRODUCED & SOLD ARE GROWING
REACHED OVER 100% CAPACITY UTILISATION
SELLING RATES ARE STABLE WHILE QT.PRODUCED & SOLD ARE GROWING
CAPACITY UTILISATION IS ONLY 44% WHY ?
SELLING PRICE PICKED UP REMARKABLY 24.62% IN YR 2000 BUT CAPACITY
UTILISATION IS LOWER ONLY 16% WHY?
PRICES FIRMED UP .CAP.UTILISATION UP OVER 100%
PRICES FIRMED UP .CAP.UTILISATION ALSO UP
PRICES ARE UNDER PRESSURE.

MAIN RAW MATERIAL


YR END 03/98
CONSUME COST /UNIT
MT

RS

YR END 03/99

TOTAL

% OF

VALUE

NET SALE

Qt CONSUME COST / UNIT


MT

RS 99

Cr. Rs
NET SALE
Caprolactum

81270

172

573
30.89

% CHANGE
Polyester Chips

1648.76

53555

8.83

1.59

% CHANGE
Chlorine

17626.83

5866

10.34

1.86

% CHANGE
Chloromethanes

3316.35

20927

6.94

1.25

% CHANGE
Fluorospar

7355.49

6702

4.93

0.89

69.87

12.54

% CHANGE
OTHERS
% CHANGE
TOTAL COST OF RAW

% OF
NET SALE

Cr. Rs

557
21168.91

TOTAL
VALUE

21250

75102.66

159.59

0.38

-7.59

-7.24

2687

40565

10.9

62.97

-24.26

23.44

22030

5714.95

12.59

24.98

-2.58

21.76

5610

20462

11.48

69.16

-2.22

65.42

11001

6918

7.61

49.56

3.21

54.36
62.98
-9.9

273

265

27.85
1.90
2.20
2.00
1.33
10.99

YR END 03/00
Qt CONSUME COST / UNIT
MT/00

RS /00

TOTAL

% OF

VALUE

NET SALE

Cr. Rs
669
24342

77677

189

14.55

3.43

18.48

3225

50568

16

20.03

24.66

49.63

23416

5659

13

6.29

-0.99

5.24

7007

17840

13

24.89

-12.81

8.89

10437

8038

-5.12

16.20

10.25
85.72
36.1
325

28.26
2.44
1.98
1.87
1.25
12.81

SRF LTD.
FINANCIAL HIGHLIGHTS:
PERIOD(MONTHS)
IN RS. CRS.
GROSS SALES

Mar-99

% TO

Mar-00

% TO

Mar-01

% TO

Jun-00

% TO

Sep-00

% TO

Dec-00

% TO

12

N.SALE

12

N.SALE

12

N.SALE

N.SALE

N.SALE

N.SALE

692.56

120.83 806.77

120.5

168.81

100

161.77
161.77

EXCISE DUTY

119.37

20.83

137.17

20.5

NET SALES

573.19

100.00

669.6

100.0

168.81

100

6.87

4.07

100 184.14

100

100 184.14

100

GRTH. OVER PREV.PRD.


OTHER INCOME

12.07

2.11

11.64

1.7

TOTAL INCOME

585.26

102.11

681.24

101.7

COST OF MATERIAL

233.77

40.78

281.51

42.0

EMPLOYEE COST

32.55

5.68

33.35

5.0

8.83

5.23

7.64

POWER & FUEL

53.18

9.28

62.93

9.4

17.81

10.55

17.43

SELLING &ADM.EXPENSE 21.95

3.83

22.66

3.4

OTHER EXP.*

13.77

175.68 104.07
76.88

45.54

1.83

0.99

162.53 100.47 185.97

0.76

100.99

82.54

85.11

14.85

116.64

17.4

23.6

13.98

22.27

COST OF SALES

426.56

74.42

517.09

77.2

129.7

76.83

129.88

PBIDT

24.5

46

27.24

51.02

82.54

44.82

4.72

9.44

5.13

10.77

17.14

9.31

28.12

15.27

80.29 150.47

81.71

20.18

19.28

158.7

27.69

164.15

GRTH. OVER PREV.PRD.

###

###

3.43

INTT.&FINANCE CHARG.

104.14

18.17

91.17

13.6

16.76

9.93

19.04

11.77

18.9

10.26

DEPRECIATIONS

36.61

6.39

37.5

5.6

9.62

5.70

9.58

5.92

9.71

5.27

OTHER INCOME

53.07

PBT

17.95

3.13

TAX PROVISION

1.49

PAT

16.46

GRTH. OVER PREV.PRD.

###

EXTRA ORD.ITEMS

32.65

0.47

-28.99

68.53

27.6

8.73

13.28

16.01

35.48

5.3

0.26

4.45

0.7

2.87

31.03

4.6

###

88.52
0.0

5.74

3.40

2.65

1.64

4.6

12.24

7.25

1.05

0.65

6.3

0.00
2.87

31.03

19.6

35.5

11.61

4.03

2.49

6.89

3.74

1.62

0.96

0.33

0.20

0.59

0.32

17.98

10.65

3.7

2.29

6.3

-79.42

70.27

ADJUSTED PAT

16.46

EQUITY

62.7

64.66

64.69

65.54

65.54

EPS

2.62

4.8

1.89

0.16

0.96

3.42

Mar-01

% TO

N.SALE

SRF LTD - COMPARISION WITH PEERSET

COMPANIES

Mkt.

P/E

Price

Cash

Div.

BV/

P/E

Yld

Share

Year End
(Rs in crs.)

Net

OP

OPM

Net

(%)

Profit*

Profit

Sales

Cash

Equity

EPS*

CEPS

RoCE RoNW Debt/

Div

(Rs.)

(Rs.)

(%)

Equity

(%)

12.06

8.26

0.82

20

11.74

11.20

0.25

60

2.73

1.13

25.41

6.50

0.00

10.61

19.07

30.17

2.73

40

15.15

11.83

30

NYLON TYRE CORD PEERS (AND % OF NTCF SALES TO THEIR TOTAL SALES
SRF

21.6

(NTCF-74%)
Century Enka

79

(NTCF-19.85%)
Nirlon

4.0

1.7

2.3

1.3

4.5

1.8

3.5

2.2

30.6

9.3

64.8

Dec.02(9)
7.6

153.0 Mar.02
Dec.02(9)

0.0

4.4

(NTCF-90%)
NRC

Mar.02

Mar.02
Dec.02(9)

(NTCF-28.65%)

-2.0

5.2

2.0

0.9

0.0

7.5

Mar.02
Dec.02(9)

618

130

21.04

35

81.5

65.54

5.34

12.44

532.00

112

21.05

46.00

82.00

65.54

9.36

16.68

708

113

15.96

50.52

125.33

28.64

17.64

43.76

558.00

90

16.13

49.14

78.24

28.64

22.88

36.42

91

-14.5

(15.93)

-3.29

0.38

58.22

-0.57

0.07

78.50

-5

(5.96)

-8.15

-5.51

58.22

-1.87

-1.26

318

22.85

7.19

-8.07

3.14

27.35

-2.95

1.15

228.00

27

11.84

6.97

15.43

30.95

3.00

6.65

REFRIGERATION GASES PEERS ( AND % OF FLUROCHEMICAL SALES TO THEIR TOTAL SALES


Chemplast San.

28

(CFCs-4%)
Guj.Flurochem.
(CFCs-100%)

64

3.3

1.8

4.1

2.2

2.4

2.2

2.3

2.2

14.3

28.3

Mar.02
Dec.02(9)

4.7

222.8 Mar.02
Dec.02(9)

442

84.55

19.13

30

55

35.18

8.53

15.63

330.00

60

18.18

18.00

33.00

35.18

6.82

12.51

120

28.33

23.61

30.54

33.05

11.58

26.37

28.54

90.00

25

27.22

23.83

25.66

11.58

27.44

29.55

Note : Net Profit is before Deferred Tax Prov.EPS/CEPS for Dec.( 9 M) has been annulised .

31.6
Year End

N. Sales

OP

N. Profit* Cash

(Rs in crs.)
Profit
Mar.99
570.26 143.70
13.53
50.14
Mar.00
665.10 148.28
26.80
64.30
Mar.01
672.11 135.49
35.15
75.44
Mar.02
617.54 130.44
35.11
81.55
Mar.03
720.90 132.61
51.20
99.30
Jun.03 (Qtr.)
209.48
38.95
21.01
33.19
Mar.04 (Est.)
770.00 133.00
67.90
112.00
1. Net Profit is before Deferred Tax Prov.
2. EPS /CEPS for June.03 Quarter is annualised.

Equity

EPS*

CEPS

62.70
64.66
65.54
65.54
65.54
65.54
65.54

(Rs.)
2.16
4.14
5.36
5.36
7.81
12.82
10.36

(Rs.)
8.00
9.94
11.51
12.44
15.15
20.26
17.09

31.6

P/E

Cash

OPM

RoCE

RoNW

14.64
7.62
5.89
5.90
4.05
2.46
3.05

P/E
3.95
3.18
2.75
2.54
2.09
1.56
1.85

(%)
25.20
22.29
20.16
21.12
18.40
18.59
17.27

(%)
13.44
14.75
14.23
12.06
13.27

%
3.21
6.12
9.05
8.26
11.02

Debt/

Div

Equity
1.10
0.89
1.04
0.82
0.58

(%)
0
15
20
20
20

SRF LTD
Industry
Promoters
Share Holding(%)
(30.06.03)

Nylon Tyre Cord & Refrig.gas


Arun Bharat Ram
Promoters
: 31.79
Ind.Institutions
: 29.99
Pvt.Corp.Bodies : 6.02
Others
: 32.20

Listing
FV

NSE,BSE
Rs.10

Rs.31.60
P/E ( Mar.04 Est.earnings)
Div.Yld.% ( 200303)
BV/Share ( on 31.03.03)
Mkt.Cap
Shares Outstanding
52-Wk H/L
Daily avg.traded volume
Enterprise Value
Enterprise Value / EBIDTA

3.05
6.32%
Rs.70.87
Rs.207.11 Crs
65.54 Million Shares
Rs. 32.5 - 18
70000 shares
Rs.474.87 Crs.
3.39

NTCF

94-95

Major Products
NTCF
Production
Imports
Total
44198
9953.4
54151.4

95-96

50666

10983.8

61649.8

96-97
97-98
98-99
99-2000
April.01
June.01

53421
46914
48864
46514
3457
3747

9882.1
13156.9
14856.7
8296
340.2
85.9

63303.1
60070.9
63720.7
54810
3797.2
3832.9

July.01

Production ( IN MT)

Installed
Cap.
Capacity Util.
in MT
%
39300
72.85
7200
76.26
7500
76.16
13400
65.80
4000
0.00
7300
0.00
78700
61.82

Company
SRF
Nirlon Ltd.
NRC Ltd.
Century Enka
Baroda Rayon
J.K.Synthetic
Domestic Supp.
Consumption
Gap ( Cons. Higher than supp.)
% of consumption

94-95

3921
871.4
4792.4
Production
Imports
Total
44198
9953.4
54151.4

CFC
Company
Production ( in MT)
Chemplast Sanmar Ltd
Gujarat Flourochemicals Ltd
SRF Ltd
DOMESTIC TOTAL

Production
Imports
Total
44198
9953.4
54151.4
3574
759.6
4333.6

Company

94-95
Oct.01

Capacity Capacity
Installed
Util.%
2500
65.08
19000
63.06
25000
45.57
46500
53.77
Capacity
Chloromethane

Production
Chemplast Sanmar Ltd
Gujarat Flourochemicals Ltd
SRF Ltd
Production

22000
21120
22500
65620

Sales
NTCF - GLOBAL SITUATION
(in '000 MT)
America
Europe
Africa
OtherAsia
China
India
GLOBAL TOTAL

1990
Capacity Demand
245
197
375
268
8
22
271
255
62
60
62
35
1023
837

RAW MATERIAL - CAPROLACTAM


94-95

44198

9953.4

54151.4

Production ( IN MT)
Company
FACT
GSFC

94-95

44198

9953.4

54151.4

CONSUMPTION ( IN MT)
Company

Installed
Cap.
Capacity Util.
in MT
%
50000
97.73
70000
85.07
120000
90.34

Baroda Rayon Corporation Ltd


Century Enka Ltd
JCT Ltd
Modipon Ltd
Nirlon Ltd
NRC Ltd
Shree Synthetics
JK Synthetic
SRF Ltd
Demand -Supply gap

2001-02

28631
5491
5712
8817
0
0
48651
59495
10844
18.23

2001-02
1627
11981
11392.82
25000.82

2001-02
32309
24605
14291.12
71205.12
68999

2000-01

20758
5688
6115
10093
9
0
42663
54779
12116
22.12

2000-01

1999-2000 1998-99

21214
5000
6343
10372
1155
0
44084
62716
18632
29.71

19032
4979
6054
9396
3447
0
42908
58271
15363
26.36

1999-2000 1998-99

2285
2380
2378
11923
13078
10425
11144.86 11396.11 10544.13
25352.86 26854.11 23347.13

2000-01

1999-2000 1998-99

32851
30880
30685
25914
23490
21021
14552.68 10769.85 17283.72
73317.68 65139.85 68989.72
70030

61057

57447

1997 - 98

18081
4359
5732
7794
3920
914
40800
59969
19169
31.96

1997 - 98
2360
9767.53
7521
19648.53

1997 - 98
22328
19260
13223
54811
45667

1995
2000
2001 - 2002
EXP.IN 2005
Capacity Demand Capacity Demand Capacity Demand Capacity Demand
245
243
245
253
248
221
248
292
375
272
274
191
272
192
315
225
16
22
16
16
18
16
18
20
271
276
341
246
341
234
341
314
124
120
211
145
215
135
215
185
62
52
63
62
67
64
80
82
1093
985
1150
913
1161
862
1217
1118

2001-02

48865
59546
108411
2001-02

2000-01

52541
65051
117592
2000-01

1999-2000 1998-99

50723
64647
115370

38783
65987
104770

1999-2000 1998-99

1997 - 98

40451
59501
99952
1997 - 98

1355
16556
6089.53
7156.4
5746
5936
0
0
23900.01
66738.94
41672.06

669
1700
5914
15666
15248
13006
8645.15
8776
8776.5
7988.86
7716.79 6971.88
6310
7117.95 7826.97
6537
68.82
6416
0
3301
4027
0
0
0
23449.67 24341.77 21249.58
69265.68 68270.33 74187.93
48326.32 47099.67 30582.07

5385
10846
1977
6192.9
7624
7696.53
6165
4015
21168.91
71070.34
28881.66

(Rs.per Kg.)N-6
Q1`01
Q2`01
Q3`01
Q4`01
Q1`02
Q2`02
Q3`02
Q4`02
Q1`03
Ap.17`03
CAPACITY UTILISATION
NTCF
2002
86%
2001
80%
DOMESTIC DEMAND
NTCF
1997-98
1998-99
1999-00
2000-01
2001-02
Apr.- Sept.02

%
100
94
92
87
81
77
86
92
102
102

-6
-2.128
-5.435
-6.897
-4.938
11.69
6.977
10.87

Caprolactum
100
95
90
79
73
85
102
109
115

-5
-5.263
-12.22
-7.595
16.44
20
6.863
5.505

120
110
100
90
80
70
60
Q1`01 Q2`01 Q3`01 Q4`01 Q1`02 Q2`02
N-6

4710
4675
5175
5080
5330
5900

Month
Dec.01
Jan.02
Feb.02
Mar.02
April.02
May.02
June.02
Jul.02
Aug.02
Sept.02
Oct.02
Nov.02
Dec.02
Jan.03
Feb.03
Mar.03
Apr.03

CAPROLACTAM PRICE - S.E. Asian $/MT CFR


770
765
785
900
990
1030 CAPROLACTAM PRICE
1040
1250
1075
1150 1150
1170
1050
1150
950 1100
1050
850
1100
750 1175
1220
650
1150

- S.E. Asian $/MT CFR

Dec. Jan. Feb. Mar. April May Jun Jul.0 Aug Sept Oct. Nov. Dec. Jan. Feb. Mar. Apr.
01 02 02 02 .02 .02 e.02 2
.02 .02 02 02 02 03 03 03 03

Caprolac

Q3`01 Q4`01 Q1`02 Q2`02 Q3`02 Q4`02 Q1`03


N-6

FR

an. Feb. Mar. Apr.


3 03 03 03

Caprolactum

SRF LTD.
PERIOD

Yr. End %Of Yr. End %Of

Yr.End

%Of Q. End %Of Q. End %Of Q. End %Of Q. End

in Rs crs

Mar-99

OR

Mar-00

OR

Mar-01

OR

Total Sale

689.63

121

802.27

121

Excise Duty

119.37 20.9 137.17

21

Operating Rev .(OR)

570.26

100

100

% growth over IPP

665.11

%Of

Q. End

%Of

Jun-00

OR

Sep-00

OR

Dec-00

OR

Mar-01

OR

Jun-01

OR

168.81

100

161.77

100

184.14

100

178.14

100

176.36

100

0
692.86

16.63

4.17

-4.5

-8.61

100

-4.17

13.83

-3.26

-1.00

22.38

-23.81

8.93

-3.47

%Growth over CPP

4.47

Stock adjustment

-3.07

Raw Material Cost

236.7

42

286.01

43

342.29

49.4

94.71

56

60.16

37.2

119.59

65

80.12

45

92.31

52.3

Staff Cost

32.9

5.77

34.16

5.14

36.89

5.32

8.83

5.23

7.64

4.72

9.44

5.13

10.98

6.16

10.54

5.98

Power & Fuel

53.18

9.33

62.93

9.46

68.25

9.85

17.81

11

17.43

10.8

17.14

9.31

16.58

9.31

17.09

9.69

Other Expenditure

89.96

16

120.89

18

114.33

16.5

24.46

14

22.27

13.8

28.11

15

26.49

14.9

17.34

9.83

Total Expenditure

409.67

72

499.49

75

553.15

79.8

129.7

77

129.88

80.3

150.47

82

143.1

80.3

133.81

75.9

PBDIT

160.59 28.2 165.62 24.9

139.71

20.2

39.11

23.2

31.89

19.7

33.67

18.3

35.04

19.7

42.55

24.1

Interest

106.44

19

94.73

14

69.27

10

16.76

9.93

19.04

11.8

18.9

10

14.57

8.18

15.56

8.82

Depreciation

36.61

6.42

37.5

5.64

39.6

5.72

9.62

5.7

9.58

5.92

9.71

5.27

10.69

11.05

6.27

Other income

-2.29

7.11

1.07

11.64

1.68

6.87

4.07

0.76

0.47

1.83

2.18

1.22

0.54

0.31

PBT

15.25

2.67

40.5

6.09

42.48

6.13

19.6

12

4.03

2.49

6.89

3.74

11.96

6.71

16.48

9.34

165.57

25

4.89

0.71

-79.44

-49

70.97

39

73.58

41.3

37.79

21.4

% growth over IPP

-16.11

Tax

1.49

0.26

4.45

0.67

2.29

0.33

1.62

0.33

0.2

0.59

0.32

-0.25

-0.1

1.26

0.71

PAT

13.76

2.41

36.05

5.42

40.19

5.8

17.98

11

3.7

2.29

6.3

3.42

12.21

6.85

15.22

8.63

Extra ord. Item

-9.18

5.92

APAT

13.76

26.87

34.27

17.98

3.7

6.3

12.21

15.22

Equity

62.7

64.67

65.54

64.69

65.54

65.54

65.54

65.54

EPS

2.19

5.57

6.13

2.78

0.56

0.96

1.86

2.32

P/E at current MP.15

6.84

EPS has been annualised

2.69

2.45

5.40

26.57

15.60

8.05

6.46