Stock SRF SRF LIMITED
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Financials SRF Limited

Equities

SRF

INE647A01010

Diversified Chemicals

Delayed Bombay S.E.
Other stock markets
 05:13:31 2024-06-10 am EDT 		5-day change 1st Jan Change
2,356 INR +1.98% Intraday chart for SRF Limited +3.97% -4.96%
May. 29 India's Deepak Fertilisers And Petrochemicals's Q4 profit falls on weak demand RE
May. 22 Meera Industries Bags INR74.7 Million Order for Ring Twisting Machines from SRF; Meera Shares Jump 7% MT

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 159,756 320,309 793,949 713,257 758,121 684,786 - -
Enterprise Value (EV) 1 191,262 348,229 824,839 745,733 758,121 728,098 727,695 725,704
P/E ratio 15.7 x 26.3 x 42 x 33 x 56.8 x 40 x 29.8 x 25.3 x
Yield 0.25% 0.44% 0.27% 0.3% - 0.33% 0.39% 0.39%
Capitalization / Revenue 2.22 x 3.81 x 6.39 x 4.8 x 5.77 x 4.52 x 3.9 x 3.45 x
EV / Revenue 2.65 x 4.15 x 6.63 x 5.01 x 5.77 x 4.81 x 4.14 x 3.66 x
EV / EBITDA 13.1 x 16.2 x 26 x 21.1 x 29.3 x 22.4 x 17.7 x 15.6 x
EV / FCF -226 x 62.5 x 301 x 1,174 x - 145 x 95.2 x 52.8 x
FCF Yield -0.44% 1.6% 0.33% 0.09% - 0.69% 1.05% 1.89%
Price to Book 3.24 x 4.67 x 9.27 x 6.91 x - 5.28 x 4.57 x 3.91 x
Nbr of stocks (in thousands) 287,403 296,226 296,421 296,425 296,425 296,425 - -
Reference price 2 555.9 1,081 2,678 2,406 2,558 2,310 2,310 2,310
Announcement Date 6/4/20 5/5/21 5/9/22 5/9/23 5/7/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 72,094 84,000 124,337 148,702 131,385 151,405 175,665 198,379
EBITDA 1 14,549 21,452 31,759 35,292 25,841 32,536 41,026 46,666
EBIT 1 10,663 16,921 26,587 29,539 19,115 24,897 31,658 36,373
Operating Margin 14.79% 20.14% 21.38% 19.86% 14.55% 16.44% 18.02% 18.34%
Earnings before Tax (EBT) 1 10,706 16,127 25,856 28,240 16,922 22,564 29,889 35,532
Net income 1 10,191 11,979 18,889 21,623 13,357 17,125 23,020 27,108
Net margin 14.14% 14.26% 15.19% 14.54% 10.17% 11.31% 13.1% 13.66%
EPS 2 35.46 41.11 63.75 72.95 45.06 57.70 77.60 91.42
Free Cash Flow 1 -847.2 5,573 2,736 635.3 - 5,028 7,644 13,751
FCF margin -1.18% 6.63% 2.2% 0.43% - 3.32% 4.35% 6.93%
FCF Conversion (EBITDA) - 25.98% 8.62% 1.8% - 15.45% 18.63% 29.47%
FCF Conversion (Net income) - 46.52% 14.49% 2.94% - 29.36% 33.21% 50.73%
Dividend per Share 2 1.400 4.800 7.150 7.200 - 7.705 8.978 9.085
Announcement Date 6/4/20 5/5/21 5/9/22 5/9/23 5/7/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Net sales 1 36,460 33,459 35,494 38,947 37,278 34,697 37,781 33,384 31,774 30,530 35,697 - 32,734 36,207 40,261 43,166 -
EBITDA 1 9,357 8,814 9,480 9,950 7,691 8,335 9,316 6,962 6,262 5,658 6,958 12,616 7,955 8,947 9,957 8,105 -
EBIT 1 - 7,490 8,164 8,642 6,298 6,829 7,770 5,396 4,650 3,969 5,099 - 6,059 7,297 8,207 5,569 -
Operating Margin - 22.39% 23% 22.19% 16.9% 19.68% 20.56% 16.16% 14.63% 13% 14.28% - 18.51% 20.15% 20.39% 12.9% -
Earnings before Tax (EBT) 1 - 7,303 7,879 8,416 6,181 6,309 7,334 4,857 4,148 3,483 4,433 - 5,729 6,961 7,866 4,434 -
Net income 1 - 5,055 6,056 6,080 4,810 5,109 5,624 3,593 3,008 2,534 4,222 - 4,285 5,207 5,884 4,349 -
Net margin - 15.11% 17.06% 15.61% 12.9% 14.72% 14.89% 10.76% 9.47% 8.3% 11.83% - 13.09% 14.38% 14.61% 10.08% -
EPS 2 - 17.06 20.43 20.51 16.23 17.24 18.97 12.12 10.15 8.550 14.24 - 14.46 17.57 19.85 14.67 -
Dividend per Share 2 - - 7.150 3.600 - 3.600 - 3.600 - - - - - - - 8.280 -
Announcement Date 11/4/20 1/25/22 5/9/22 7/21/22 11/3/22 1/30/23 5/9/23 7/24/23 10/27/23 1/30/24 5/7/24 5/7/24 - - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 31,506 27,920 30,890 32,476 - 43,312 42,909 40,918
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.165 x 1.302 x 0.9726 x 0.9202 x - 1.331 x 1.046 x 0.8768 x
Free Cash Flow 1 -847 5,573 2,737 635 - 5,028 7,644 13,751
ROE (net income / shareholders' equity) 22.5% 17.4% 24.5% 22.9% - 13.9% 16.4% 16.4%
ROA (Net income/ Total Assets) - 10.1% 13.2% 12.5% - 9.5% 10.8% -
Assets 1 - 119,031 143,531 172,656 - 180,258 213,151 -
Book Value Per Share 2 172.0 231.0 289.0 348.0 - 438.0 506.0 591.0
Cash Flow per Share 2 - - - 97.90 - 93.90 114.0 -
Capex 1 13,892 12,144 18,321 28,382 - 21,771 24,378 24,417
Capex / Sales 19.27% 14.46% 14.73% 19.09% - 14.38% 13.88% 12.31%
Announcement Date 6/4/20 5/5/21 5/9/22 5/9/23 5/7/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SRF Limited

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
27
Last Close Price
2,310 INR
Average target price
2,400 INR
Spread / Average Target
+3.91%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Diversified Chemicals
  1. Stock Market
  2. Equities
  3. SRF Stock
  4. Financials SRF Limited