Buy SRF, target price Rs 3245: JM Financial
SRF, incorporated in the year 1970, is a Large Cap company (having a market cap of Rs 72526.26 Crore) operating in Diversified sector.
SRF key Products/Revenue Segments include Chemicals (Industrial), Other Operating Revenue, Traded Goods, Export Incentives for the year ending 31-Mar-2023.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 3350.14 Crore, down -11.85 % from last quarter Total Income of Rs 3800.42 Crore and down -14.20 % from last year same quarter Total Income of Rs 3904.57 Crore.
Company has reported net profit after tax of Rs 359.29 Crore in latest quarter.
Investment Rationale
The brokerage reiterates its BUY stance on the name as it has started seeing signs of normalisation on the ref gas side even as the brokerage awaits green-shoots on the agrochem side.
Promoter/FII Holdings Promoters held 50.53 per cent stake in the company as of 30-Jun-2023, while FIIs owned 20.04 per cent, DIIs 13.58 per cent.
