SRF updates

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Consider SRF at current levels.
Qtr results are as follows
A) Sales for Qtr 52449 lakhs as compared to 50646 previous year Sept Qtr.
    Sales has increased by 3.56%...
!   Textile segment revenue Increased by 11.45% during the qtr 30439lakhs compared to previous year Sept Qtr figure of 27304 lakhs..
! Chemical segment revenue increased by 4.35% during the qtr 15640 lakhs compared to previous year Sept Qtr figure of 14988 lakhs...
! Packing business saw a drop in revenues by 12% 6750lakhs compared to previous year Sept Qtr figure.

Gross profit margin has dropped to 22.86% compared to 24.13% previous qtr last year.
Net profit margin has increased to 13% compared to 9%  previous qtr last year,due to Exchange currency flucatation adjustments.

Risk factors:
Textile Industry is still in dolldrums, but my viewpoint is  Clothes do get perished & we cann't afford to roam naked in most part of world ...
Secondly Management has pledged their stake to small portion of their stake which is common in whole Sector...

From my view point If Investor follows slow accumulation will see a decent price of Rs250 in next six months. I may go wrong only if world allows people to express their freedom of expression & roam aroound world with bare minimum clothes.....

Disclaimer : I hold siginificant position in this script & will be happy if everyone grows around me prospers..
I Shall write more on ICSA & Rolta results....

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