Maintain SRF, goal worth Rs 2,715: ICICI Securities

ICICI Securities has a maintain name on SRF with a goal worth of Rs 2715. The present market worth of SRF Ltd. is Rs 2835.4. SRF, integrated in 1970, is a Giant Cap firm with a market cap of Rs 81350.83 crore, working in a Diversified sector.

SRF’s key merchandise/eevenue segments embody Chemical compounds (Industrial), Different Working Income, Traded Items, Export Incentives for the yr ending 31-Mar-2023.

Financials
For the quarter ended 31-12-2024, the corporate has reported a Consolidated Complete Earnings of Rs 3530.95 crore, up 2.12% from final quarter Complete Earnings of Rs 3457.63 crore and up 14.95% from final yr identical quarter Complete Earnings of Rs 3071.79 crore. The corporate has reported internet revenue after tax of Rs 271.08 crore within the newest quarter.

The corporate?s prime administration consists of Mr.Arun Bharat Ram, Ms.Ira Gupta, Mr.Raj Kumar Jain, Mr.Yash Gupta, Mr.Puneet Yadu Dalmia, Ms.Bharti Gupta Ramola, Mr.Vellayan Subbiah, Mr.Pramod G Gujarathi, Mr.Kartik Bharat Ram, Mr.Ashish Bharat Ram, Mr.Vineet Agarwal. Firm has BSR & Co. LLP as its auditors. As on 31-12-2024, the corporate has a complete of 30 Crore shares excellent.

Funding Rationale
SRF’s Chemical compounds enterprise? EBIT margin to leap 290bps QoQ to 30.3%, in Q4FY25E (vs. 24.3% in Q3FY25). Chemical compounds? EBIT to learn from greater quantity growthin specialty chemical compounds, and quantity and pricing in ref-gas. Home R-32 costs significantly shall be sturdy. We estimate technical textiles? EBIT to dip 14.8% YoY and packing movies ought to profit from a spurt in spreads in BOPP/ BOPET. SRF?s income could rise 19.4% YoY/22% QoQ to Rs 43 billion, EBITDA might enhance 37.3% YoY/54.2% QoQ to INR 9.6bn. Web revenue to extend 24.3% YoY/93.6% QoQ to Rs 5.3 billion. Promoter/FII Holdings
Promoters held 50.26 per cent stake within the firm as of 31-Dec-2024, whereas FIIs owned 18.37 per cent, DIIs 17.77 per cent.