Meanwhile, the S&P BSE Sensex was down 157.70 points or 0.52% at 30,413.27. The S&P BSE Mid-Cap index was down 198.85 points or 1.37% at 14,268.25.

On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 13,484 shares in the past one quarter. The stock had hit a high of Rs 1,694 and a low of Rs 1,597.20 so far during the day.

The stock had hit a record high of Rs 1,969.50 on 5 October 2016 and a 52-week low of Rs 1,165.50 on 24 May 2016. It had underperformed the market over the past one month till 22 May 2017, advancing 0.27% compared with the Sensex's 4.11% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 8.52% as against the Sensex's 5.91% rise.

The mid-cap company has equity capital of Rs 57.42 crore. Face value per share is Rs 10.

SRF's consolidated net profit rose 15.7% to Rs 129.22 crore on 19.7% growth in net sales to Rs 1306.08 crore in Q4 March 2017 over Q4 March 2016. A sharp surge in other income/non-operational income aided bottom line growth. Other income jumped 128.3% to Rs 25.93 crore in Q4 March 2017 over Q4 March 2016.

During Q4 March 2017, SRF Overseas which was wholly owned subsidiary of SRF Global BV (a wholly owned subsidiary of SRF) was liquidated and its impact has been included in the results.

Shares of SRF were on a declining spree ahead of the announcement of its Q4 earnings. The stock had declined 7.17% in the preceding four trading sessions to settle at Rs 1,708.45 yesterday, 22 May 2017, from its closing of Rs 1,840.45 on 16 May 2017.

SRF's board at its meeting held yesterday, 22 May 2017, approved setting-up of a facility to produce agrochemical at the company's chemical complex in Dahej, Gujarat at an estimated cost of Rs 180 crore.

The proposed capacity addition is 250 million tonnes per annum (MTPA). The period within which the proposed capacity is to be added is 12 to 18 months. The mode of financing will be through a mix of debt and internal accruals.

SRF is a multi-business global entity. The company operates in three segments viz. technical textiles business (TTB), chemicals and polymers business (CPB) and packaging film business (PFB).