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SRF Ltd share Price Today

Company details

2,480.00
2,553.15
2,040.00
2,687.50
6M Return 12.59%
1Y Return 1.83%
Mkt Cap.(Cr) 74,967.36
Volume 280,298
Div Yield 0.29%
OI
-
OI Chg %
-
Volume 280,298

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Chemicals business continues to drive numbers, optimism…
About The Stock

    Incorporated in 1970, SRF started with nylon cord tyre and, thereafter, diversified into refrigerant gases, speciality chemicals and packaging film among others.

    • Chemicals (specialty + fluorochemicals) form 50% of overall revenues followed by packaging film (35%), technical textile (13%) and others (2%)
    • The company exports to more than 90+ countries. Revenue from the international market constitutes 57% of overall revenues while the rest is from the domestic market segment
Q4FY23 Results

    Reported a decent performance in Q4FY23 largely led by specialty chemicals segment.

    • Reported revenue growth was 6.1% YoY to ₹ 3,719.3 crore, led by chemicals (up 34% YoY) but pulled down by technical textile (down 13% YoY), packaging film (down 17% YoY) and other segment (down 1% YoY)
    • Gross margins declined 311 bps YoY to 50% while EBITDA margin declined 205 bps YoY to 24.7%. Absolute EBITDA was down 2% YoY to ₹ 931.6 crore
    • PAT declined 7% YoY to ₹ 562.5 crore

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Specialty Chemicals company SRF announced Q2FY24 & H1FY24 results:

Financial Results
1. In Q2FY24, SRF reported a decrease in consolidated revenue by 15% to Rs 3,177 crore compared to Rs 3,728 crore in Q2FY23.
2. EBIT decreased by 23% to Rs 533 crore in Q2FY24 from Rs 689 crore in Q2FY23.
3. PAT declined by 37% to Rs 301 crore in Q2FY24, compared to Rs 481 crore in Q2FY23.
4. In H1FY24, SRF’s revenue decreased 15% from Rs 7,622 crore to Rs 6,516 crore over H1FY23.
5. The company’s PAT decreased 39% from Rs 1,089 crore to Rs 660 crore over H1FY23

Segment Results:
1. Chemicals Business: The segment revenue of the Chemicals Business decreased by 22% to Rs 1,426 crore in Q2FY24 from Rs 1,830 crore in Q2FY23. The operating profit of the business decreased by 33% to Rs 348 crore in Q2FY24 from Rs 517 crore in Q2FY23.
2. Packaging Films Business: The Packaging Films Business reported a decrease in segment revenue by 16% to Rs 1,122 crore in Q2FY24 from Rs 1,331 crore in Q2FY23. The operating profit of the business declined by 24% to Rs 77 crore in Q2FY24 from Rs 101 crore in Q2FY23.
3. Technical Textiles Business: The Technical Textiles Business reported an increase in segment revenue by 9% to Rs 506 crore in Q2FY24 from Rs 466 crore in Q2FY23. The operating profit of the business increased by 19% to Rs 75 crore in Q2FY24 from Rs 63 crore in Q2FY23.
4. Other Businesses: The Other Businesses reported an increase in segment revenue by 27% to Rs 127 crore in Q2FY24 from Rs 100 crore in Q2FY23. The operating profit of the business increased by 313% to Rs 33 crore in Q2FY24 from Rs 8 crore in Q2FY23.

Commenting on the results, Chairman and Managing Director, Ashish Bharat Ram said, “During the quarter, we felt the brunt of the destocking and inventory rationalization phenomenon in our Chemicals Business. Having said that, we are now beginning to see some positive traction that should bode well for a better second half of FY24. The overcapacity in our Packaging Films Business will continue for some more time.”

 

 

Result PDF

View Other Company Results

SRF Ltd shares SWOT Analysis

Strengths (5)

  • Company with Low Debt
  • Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
  • Annual Net Profits improving for last 2 years

Weakness (7)

  • Degrowth in Revenue and Profit
  • Degrowth in Quarterly Revenue and Profit in Recent Results(YoY)
  • Declining Revenue every quarter for the past 3 quarters

Opportunity (0)

Data not found

Threats (2)

  • Promoter decreasing their shareholding
  • High PE (PE > 40)

Resistance and support

R1 2,561.5
R2 2,593.9
R3 2,634.6
Pivot

2,520.73

S1 2,488.3
S2 2,447.6
S3 2,415.2
EMA SMA
2,547.4
2,482.8
2,429.8
2,390.2
2,564.9
2,453.2
2,416.5
2,347.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-11-14 2388.7 242659 NSE
ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 2022-11-14 2388.7 242659 NSE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-11-03 2547.9 242660 NSE
Name Category Shares
KAMA HOLDINGS LIMITED PROMOTER 50.26%

OUR RESEARCH VIEW

Investment recommendation
Chemicals business continues to drive numbers, optimism…
Call Date
12 May 2023
Entry Price 2,570.00
Target Price 3,000.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

SRF Ltd Stocks COMPARISON

Financials( in Cr) SRF Ltd Pidilite Industries Ltd Linde India Ltd Gujarat Fluorochemicals Ltd Deepak Nitrite Ltd
Price 2,529.05 2,830.70 7,372.75 3,598.15 2,271.85
% Change -0.04 -1.43 2.40 -0.01 -1.45
Mcap Cr 74,967.36 143,971.95 62,877.76 39,525.68 30,986.44
Revenue TTM Cr 14,870.25 11,799.10 3,135.52 5,684.66 7,972.06
Net Profit TTM Cr 2,162.34 1,288.87 538.06 1,323.05 852.00
PE TTM 50.76 84.00 147.00 59.40 39.15
1 Year Return 1.83 16.37 77.59 11.26 21.57
ROCE 21.98 24.24 16.29 29.38 29.81
ROE 22.89 18.93 14.70 27.07 22.94
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 10,315.42 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 24,289.49 -9,580.22
LAST 3M 82,644.28 34,986.47
LAST 6M 142,142.07 66,572.41
LAST 12M 216,755.16 194,314.28

SRF Ltd Information

Stock PE (TTM)
50.76
Promoter Holding
50.53%
Book Value
366.0555
ROCE
21.98%
ROE
22.89%
Description
  • SRF Ltd., incorporated in 1970, is an Indian chemical-based multi-business conglomerate. It manufactures industrial and speciality intermediates. The company’s headquarters are in New Delhi. For the quarter ended June 2022, SRF Ltd. recorded a total income of Rs 3,904.57 crore, up 9.78% from the total income of Rs 3,556.65 crore for the quarter ended March 2022. On 19 August 2022, the company’s market capitalisation stood at Rs 72,775 crore. 

    The company’s Bombay Stock Exchange listing code is 503806 and the National Stock Exchange listing code is SRF. 

    SRF Ltd.’s first plant was established in Manali, near Chennai, in 1974. As of 2022, it has grown into a leading, professionally-managed, diversified chemicals conglomerate from a single-unit tyre manufacturer. The company’s business verticals include packaging films, coated fabrics, laminated fabrics, fluorochemicals, technical textiles, and speciality chemicals. The products and solutions are sold globally for varied applications in automotive, food packaging, tyres, air conditioners, cricket grounds, and other industries. During FY 2021-2022, SRF Ltd. generated a total revenue of Rs 12,549.17 crore. The company’s revenue growth of 48.22% outperformed its three-year CAGR of 20.52%.  

    On 30 June 2022, the company’s shareholding pattern showed a public stake of 20.69%, foreign institutional investor stake of 19.21%, domestic institutional investor stake of 9.36%, and promoter stake of 50.73%. The entire promoter share belongs to Kama Holdings Ltd. The promoter share remained unchanged since December 2021. In the June 2022 quarter, FII decreased holdings from 19.60% to 19.21%.  

    The company’s top management comprises Mr Arun Bharat Ram, Ms Bharti Gupta Ramola, Mr Kartik Bharat Ram, MrVellayan Subbiah, Mr Raj Kumar Jain, Mr Ashish Bharat Ram, Mr Pramod G Gujarathi, Mr Yash Gupta, Mr Rahul Jain, MrTejpreet S Chopra, Mr Lakshman Lakshminarayan, and Mr Puneet Yadu Dalmia. Its auditors are BSR & Co. LLP.  

    On 19 August 2022, the company’s share price closed at Rs 2,457.30 on BSE. SRF Ltd.’s share price closed at Rs 2,455.10 on NSE. The 52-week high for SRF Ltd.’s share price was Rs 2,773.35, and the 52-week low for the company’s share price was Rs 1,743.01. SRF Ltd.’s one-year return to the investors was 36.80%.  

    The company’s peers in the chemicals sector include ITC Ltd., Grasim Industries Ltd., Reliance Industries Partly Paid Up, and Piramal Enterprises. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose

Registered Address

Unit No 236 & 237 2nd Flr, Mayur Place Mayur Vihar Ph-I, New Delhi, New Delhi, 110091

Tel : 91-11-4948 2870
Email : ekta.maheshwari:srf.com
Website : http://www.srf.com
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Jun
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 503806
NSE Code : SRF
Book Closure Date (Month) :
BSE Group : A
ISIN : INE647A01010

FAQ’s on SRF Ltd Shares

You can buy SRF Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy SRF Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Apr 19, 2024 03:53 PM the closing price of SRF Ltd was ₹ 2,529.05.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Apr 19, 2024 03:53 PM, the market cap of SRF Ltd stood at ₹ 74,967.36.

The latest PE ratio of SRF Ltd as of Apr 19, 2024 03:53 PM is 50.76

The latest PB ratio of SRF Ltd as of Apr 19, 2024 03:53 PM is 0.14

The 52-week high of SRF Ltd share price is ₹ 2,687.50 while the 52-week low is ₹ 2,040.00

According to analyst recommendations, SRF Ltd Share has a “Buy” rating for the long term.

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