SRF

₹2267.2 6 | 0.3%

WEBSITE BSE:503806 NSE : SRF LIMITED 27 Dec, 09:06

Market Cap ₹67205 Cr.

Stock P/E 50.2

P/B 6.2

Current Price ₹2267.2

Book Value ₹ 367.6

Face Value 10

52W High ₹2697.5

Dividend Yield 0.32%

52W Low ₹ 2088.6

Edit Ratio

SRF Research see more...

Overview Inc. Year: 1970Industry: Chemicals

SRF Limited is an primarily India-based holding corporation. The Company is engaged in production of chemical substances and polymers, technical textiles and packaging films. Its segments include Technical Textiles Business (TTB), which includes nylon tire cord fabric, belting cloth, coated cloth, polyester tire cord material and commercial yarns and its studies and improvement; Chemicals and Polymers Business (CPB), which incorporates refrigerant gases, pharmaceuticals and allied merchandise, engineering plastics enterprise and its studies and improvement, and Packaging Films Business (PFB), which includes polyester films. Its chemical compounds and polymers plants are situated at Alwar, Rajasthan; Udham Singh Nagar; Uttarakhand, and Bharuch, Gujarat. Its technical textiles plant are situated at Chennai, Tamil Nadu; Bhind, Madhya Pradesh; Thiruvallur, Tamil Nadu; Pudukottai, Tamil Nadu, and Udham SinghNagar, Uttarakhand. Its packaging films plants are situated at Udham SinghNagar, Uttarakhand and Indore, Madhya Pradesh.

SRF Share Price

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Quarterly Price

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Peer Comparison

SRF Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

SRF Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net Sales	3417	3614	3639	3883	4582	6206	6331	6988	9953	12074	10787
Other Income	25	47	37	46	104	42	53	63	135	106	119
Total Income	3442	3661	3677	3929	4686	6248	6384	7052	10089	12180	10906
Total Expenditure	2911	2957	2832	3062	3797	5080	5068	5247	7420	8880	8397
Operating Profit	531	705	844	868	889	1168	1316	1805	2669	3300	2509
Interest	70	100	95	78	98	174	182	111	94	176	236
Depreciation	190	209	233	242	278	325	353	384	419	468	556
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	271	396	516	548	513	669	780	1310	2155	2656	1718
Provision for Tax	54	88	144	129	107	168	-13	385	648	633	344
Profit After Tax	217	308	372	419	406	502	794	925	1507	2023	1374
Adjustments	0	0	0	0	0	16	181	0	0	0	0
Profit After Adjustments	217	308	372	419	406	517	974	925	1507	2023	1374
Adjusted Earnings Per Share	7.5	10.7	13	14.6	14.1	17.5	27.6	31.2	50.8	68.3	46.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-11%	16%	12%	12%
Operating Profit CAGR	-24%	12%	17%	17%
PAT CAGR	-32%	14%	22%	20%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-8%	-1%	27%	29%
ROE Average	14%	20%	19%	16%
ROCE Average	15%	21%	19%	16%

SRF Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	2164	2398	2804	3145	3450	3919	4684	6295	7625	9254	10514
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	845	1094	1341	960	1505	1695	1117	1422	1190	1727	1662
Other Non-Current Liabilities	304	411	265	293	295	331	255	429	907	1086	1147
Total Current Liabilities	1154	965	1003	1570	2025	2728	2763	2565	3217	3485	4042
Total Liabilities	4465	4868	5414	5968	7274	8672	8820	10711	12938	15551	17365
Fixed Assets	2760	3135	3305	3617	4342	4846	5648	5896	6114	7674	10439
Other Non-Current Assets	296	335	420	576	893	1025	556	1158	2489	2874	1936
Total Current Assets	1409	1399	1689	1775	2038	2802	2615	3657	4332	5003	4990
Total Assets	4465	4868	5414	5968	7274	8672	8820	10711	12938	15551	17365

SRF Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	70	67	57	280	48	68	163	98	87	320	527
Cash Flow from Operating Activities	381	508	819	550	606	595	1216	1422	1638	2788	1903
Cash Flow from Investing Activities	-403	-550	-578	-592	-1187	-847	-422	-1790	-1280	-2328	-2074
Cash Flow from Financing Activities	20	33	-18	-190	601	348	-859	357	-125	-252	6
Net Cash Inflow / Outflow	-3	-10	223	-232	20	95	-65	-12	233	208	-165
Closing Cash & Cash Equivalent	67	57	280	48	68	163	98	87	320	527	362

SRF Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	7.54	10.72	12.95	14.59	14.13	17.45	27.61	31.23	50.84	68.26	46.35
CEPS(Rs)	14.18	17.99	21.07	23.02	23.82	28.76	39.9	44.18	64.98	84.06	65.11
DPS(Rs)	10	10	10	12	12	12	14	24	16.75	7.2	7.2
Book NAV/Share(Rs)	74.3	82.47	97.62	109.5	120.12	136.29	162.9	212.41	257.09	311.75	353.97
Core EBITDA Margin(%)	13.62	16.68	20.46	19.57	16.44	18.47	19.64	24.47	25.24	26.04	21.62
EBIT Margin(%)	9.17	12.58	15.49	14.9	12.79	13.83	14.97	19.97	22.41	23.09	17.67
Pre Tax Margin(%)	7.28	10.05	13.08	13.06	10.74	10.98	12.14	18.4	21.47	21.66	15.54
PAT Margin (%)	5.82	7.81	9.43	9.98	8.5	8.23	12.34	13	15.01	16.5	12.43
Cash Profit Margin (%)	10.94	13.11	15.34	15.74	14.32	13.56	17.84	18.39	19.19	20.32	17.46
ROA(%)	5.2	6.59	7.23	7.36	6.13	6.29	9.07	9.47	12.74	14.2	8.35
ROE(%)	10.52	13.67	14.38	14.09	12.31	13.62	18.46	16.86	21.66	24	13.93
ROCE(%)	10.57	13.64	14.6	13.43	11.37	13.01	13.4	17.52	23.35	24.96	14.79
Receivable days	48.96	47.41	39.33	38.53	38.45	40.35	46.13	45.66	42.96	41.48	49.1
Inventory Days	55.31	58.76	56.33	56.84	59.44	57.69	62.72	61.46	55.23	53.56	61.89
Payable days	31.82	35.36	45.25	87.6	109.13	93.78	103.77	107.7	86.85	76.77	86.87
PER(x)	9.55	18.47	20.16	22.29	27.71	27.55	20.13	34.62	52.68	35.25	55.17
Price/Book(x)	0.97	2.4	2.68	2.97	3.26	3.53	3.41	5.09	10.42	7.72	7.23
Dividend Yield(%)	2.78	1.01	0.77	0.74	0.61	0.5	0.5	0.44	0.63	0.3	0.28
EV/Net Sales(x)	0.96	1.97	2.44	2.82	2.98	2.7	2.93	4.92	8.22	6.11	7.33
EV/Core EBITDA(x)	6.14	10.1	10.51	12.61	15.36	14.34	14.08	19.05	30.67	22.37	31.5
Net Sales Growth(%)	2.85	5.76	0.7	6.69	18	35.43	2.02	10.39	42.43	21.3	-10.66
EBIT Growth(%)	-22.04	45.41	23.32	2.35	-2.4	38.03	14.21	47.64	58.28	25.88	-31.01
PAT Growth(%)	-16.23	42.11	20.84	12.63	-3.14	23.63	58.24	16.57	62.91	34.26	-32.09
EPS Growth(%)	-16.23	42.11	20.84	12.63	-3.14	23.5	58.24	13.1	62.79	34.26	-32.09
Debt/Equity(x)	0.6	0.63	0.61	0.53	0.72	0.79	0.57	0.41	0.36	0.33	0.34
Current Ratio(x)	1.22	1.45	1.68	1.13	1.01	1.03	0.95	1.43	1.35	1.44	1.23
Quick Ratio(x)	0.67	0.79	1.1	0.67	0.6	0.62	0.54	0.92	0.8	0.91	0.76
Interest Cover(x)	4.87	4.98	6.41	8.07	6.23	4.85	5.29	12.78	23.82	16.11	8.29
Total Debt/Mcap(x)	0.61	0.26	0.23	0.18	0.22	0.22	0.17	0.08	0.03	0.04	0.05

SRF Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	50.73	50.53	50.53	50.53	50.53	50.53	50.53	50.3	50.26	50.26
FII	19.21	19.21	18.31	18.48	20.01	19.77	19.57	19.06	18.73	18.26
DII	9.37	14.03	14.85	14.96	13.73	14.14	14.54	15.99	16.58	17.82
Public	20.69	16.23	16.3	16.02	15.73	15.56	15.36	14.65	14.43	13.66
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	15.04	14.98	14.98	14.98	14.98	14.98	14.98	14.91	14.9	14.9
FII	5.69	5.69	5.43	5.48	5.93	5.86	5.8	5.65	5.55	5.41
DII	2.78	4.16	4.4	4.43	4.07	4.19	4.31	4.74	4.91	5.28
Public	6.13	4.81	4.83	4.75	4.66	4.61	4.55	4.34	4.28	4.05
Others	0	0	0	0	0	0	0	0	0	0
Total	29.64	29.64	29.64	29.64	29.64	29.64	29.64	29.64	29.64	29.64

Pros

Company has delivered good profit growth of 22% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Debtor days have increased from 76.77 to 86.87days.
Stock is trading at 6.2 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.