Dear Arrise,

This is the fundamental assumption that keeps you intact with this company.

there are few groups which are favourable to investors . SRF is one of them . So i will continue to hold them for the present

HI Ritul, please let us have your estimates excluding CER!!

In a short run, the share price of a company may always move in both directions (irrespective of performace) BUT over a longer period of time, companies that deliver will always create a niche over those who fail to deliver.

Dear Boarders,

There is always space for independent views BUT at times our discussion moves from Critical to Desirable aspects.

It will be interesting to see the results after minor surgery:-

If we simply reduce the CER revenue (Estimate) from the `Profit from Ordinary Activities (Excluding Currency Fluctuation)` and then compare YOY change in quarterly results, we may get a different view of the company.

I have done my estimates, but since that may not interest few boarders, I am leaving this excercise for the interested boarders.

HAPPY INVESTING!!

No body is protesting!But such brazen attitude ...and make such contradicatory statement.....
Whatever results or performance of SRF may be these Buddhas self proclaimed Buddahas praise management .
Their view is known even if one have not read the posts .....
So see the twisting statenment ...
If SRF falls then retail investor do not understand "How to read finer points in B/S P/l etc.
You r free to write ur views but do not consider retail investors buddhus ....
And this is the only Forum when STock does not run there is always Talk of Buyback ..as Buyback is panacea for all probelms of the stock ........

Kalpvriksha, why are you protesting. Everyone can see there has been both top line and bottom line erosion. Now that is past and history. The future is it half-full or half-empty is your personal call. And how far away is the rosy picture I dont know, 1Q, 2Q, 3Q in future? I have no idea. So now there are two ways to play poker; first see the cards and then bet or play without seeing the cards. I personally would like to see good performance in the next quarter before I take a position again in SRF. Yesterday I sold 50% of my holdings @ 235 just after the earnings announcement. I expect the SRF to go down on Monday. But it may surprise me. I dont know what I will do on Monday, will I SELL or Hold I dont know. If it goes down I SELL .... If it goes UP then I definitely SELL :)

Is this Poet`s forum?Then how come these poets always sing poem praising ARF when SRF dips and
if SRF shows less profitabulty then it is doing large investments ...
and if it declares less divident comnpared to last year it is JUDICIUOS on part of management ....
If SRF does not announce meeting for Sept FY results with divident in the agenda then also Buddha smiles and says "SRF will announce divident only after BUYBACK .....
The fact is for these Buddha s SRF is always right even if retail investors loose money
Is such Buddha paid poets of SRF
Yes Buddha always smiles that is these so called Buddhas retail investors r considered Buddhoos ...Buddha always smile for sure

Is thgis Poet`s forum?Then how come these prots sand peana evebn when SRF dips and if SRf shows less profitabulty then it is doing large investments ...and if it fives less divident comnpared to last year it is JUDICIUOS on part of management ....
If SRF does not announce meeting for Sept FY results with divident in the agenda then also Buddha smiles and says "SRF will announce divident only after BUYBACK .....
The fact is for these Buddha s SRf is always right even if retail investors loose money

Yes Buddha always smiles that is these so called Buddhas retail investors r considered Buddhoos ...Buddha always smile for sure .....

If a Poet has to do all the explanation. Then it will be stupid :) Buddha always smiles :) And BUddha is here in SRK :) So Smile.

Who is Buddha here?
who smiled ?
Be specific ?

Friday, November 2, 2012:-

WHY DOES BUDDHA SMILE?

The second quarter results of M/s. SRF Ltd have been announced today on 02-11-2012 with major highlights as below:-

(A) Profit from Ordinary Activities (Excluding Currency Fluctuation):
Q2 F. Y. 2012-13 - Rs. 44.33 Crores vis-a-vis Q2 F. Y. 2011-12 - Rs. 181.99 Crores [Drop of 76%]

(B) The company has changed its Tax Provisioning from 30% tax slab to MAT rate of 18.50%.

(C) Profitanbility from Chemicals and Polymers Business has dropped from 186 Cr to 42 Cr (QOQ).
Note- This segment includes revenue from sale of CERs which was Rs. 440 Cr during F.Y. 2011-12

(D) The 1st Interim dividend has been reduced from Rs. 7/- to Rs. 5/- per share
(first time after F. Y. 2008-09).

QUESTIONS WORTH EVALUATING

1. While comparing results of current year with the previous year, if we remove the revenue from CER - Then what is the quantum increase or decrease in the Profit from Ordinary Activities?

2. Why the Interim Dividend has been reduced? - (a) If the funds were required to be conserved, then the interim dividend could have been foregone all together or (b) The company could have spent additional Rs. 13 Crores to maintain the consistency of dividend.

RECAP AND REVIEW

2 days back after announcement of discussion on Interim Dividend in the board meeting, I was reading the post dated 16-05-2012 on this blog under the caption "IS THE SHARE PRICE GOING BELOW Rs. 200/-" and for ready reference of our readers, I am re-writing some related content below for ready reference:-

"... that I am also expecting the First Interim Dividend for 2012-13 to be lower than Rs. 7/- per share - may be some where close to Rs. 5/- per share. Although this may not result in overall reduction of annual dividend because the management may payout a final dividend to compensate the reduction in the interim dividend."

Then I read back the post dated 25-10-2012 under the caption "THE FIRST INTERIM DIVIDEND OF 2012-13" and for ready reference of our readers, I am re-writing some related content below for ready reference:-

"3. The current prices of the company are very lucrative with the historical dividend. If the management has to increase its stake in the company, then it will suit them to keep the retail shareholders under negative bias on the company.

....
5. A reduction in the interim dividend will put negative remark on the company while silence will not only save cash but also give benefit of doubt in the long run."

BUDDHA HAS A REASON TO SMILE...

I shall relish the Interim Dividend from the company and wish all my fellow investors a very Happy Diwali.

HAPPY INVESTING!!