8 August 2018 SRFs revenue grew 34.6% YoY to INR17,413m (est. of INR15,248m) in 1QFY19, led by higher-than-expected growth of 52.3% YoY in Packaging film business, followed by growth of 33.8% YoY in Chemicals & polymers business. EBITDA margin expanded 170bp YoY to 17.9% (est. EBITDA grew 48% YoY to INR3,112m (est. Adj. PAT grew 29% YoY to INR1,338m (est. INR1,196m), despite a higher tax rate of 26.6% (v/s 18% in 1QFY18) and higher interest cost of INR443m (v/s INR271m in 1QFY18).