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Wednesday, May 13, 2009

SRF LTD Stay Invested or Invest More

SRF Limited is a market leader in technical textiles, refrigerants, engineering plastics and industrial yarns and a preferred supplier of other fluorochemical products, fluorospecialities and polyester films. But it is now more recognised as the first company which started reporting a healthy income from the sale of carbon credits. Even in April 2009, it reported having got 1.78 million Carbon Credit worth Rs.128 crore from UN body.
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.

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. thanks


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