SRF Ltd

About [ edit ]

Established in 1970, SRF Limited is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company’s diversified business portfolio covers Fluorochemicals, Specialty Chemicals, Packaging Films, Technical Textiles and Coated and Laminated Fabrics. #

Key Points [ edit ]
  • Market Cap 37,719 Cr.
  • Current Price 6,367
  • High / Low 6,999 / 3,306
  • Stock P/E 31.5
  • Book Value 1,157
  • Dividend Yield 0.38 %
  • ROCE 18.4 %
  • ROE 20.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 22.87% CAGR over last 5 years

Cons

  • Company might be capitalizing the interest cost

Peer comparison

Sector: Textiles Industry: Textiles - Manmade

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
1,676 1,755 1,809 1,937 1,763 1,738 1,850 1,858 1,545 2,101 2,146 2,608
1,372 1,455 1,486 1,565 1,404 1,407 1,450 1,505 1,182 1,529 1,580 1,965
Operating Profit 304 300 322 372 360 331 400 353 363 572 566 643
OPM % 18% 17% 18% 19% 20% 19% 22% 19% 24% 27% 26% 25%
Other Income 8 25 19 28 29 122 6 6 10 10 22 13
Interest 44 49 53 52 52 55 48 47 43 36 28 26
Depreciation 88 88 91 95 92 93 102 101 104 114 117 118
Profit before tax 180 189 197 253 245 305 257 211 226 432 443 511
Tax % 26% 20% 16% 24% 23% 1% -34% 12% 22% 27% 27% 25%
Net Profit 134 151 166 191 189 301 343 186 177 315 325 381
EPS in Rs 23.31 26.30 28.83 33.21 32.92 52.39 59.67 32.32 30.81 54.84 54.81 64.30

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2,499 3,474 4,004 3,783 4,018 4,540 4,593 4,822 5,589 7,100 7,209 8,400
1,880 2,573 3,170 3,169 3,513 3,822 3,630 3,852 4,683 5,803 5,754 6,255
Operating Profit 619 901 835 614 505 717 963 969 906 1,297 1,455 2,145
OPM % 25% 26% 21% 16% 13% 16% 21% 20% 16% 18% 20% 26%
Other Income 81 46 28 42 24 65 28 73 115 78 152 54
Interest 78 90 117 100 96 138 130 102 124 198 201 134
Depreciation 145 170 184 209 225 245 275 283 316 358 389 453
Profit before tax 477 687 562 348 208 399 585 657 582 818 1,018 1,612
Tax % 32% 30% 33% 27% 22% 24% 27% 22% 21% 22% -0% 26%
Net Profit 324 484 379 253 162 303 430 515 462 642 1,019 1,198
EPS in Rs 65.97 44.05 28.29 52.74 74.87 89.69 80.41 111.63 177.29 202.20
Dividend Payout % 27% 18% 22% 23% 36% 19% 14% 14% 15% 11% 8% 12%
Compounded Sales Growth
10 Years:9%
5 Years:13%
3 Years:15%
TTM:17%
Compounded Profit Growth
10 Years:9%
5 Years:23%
3 Years:37%
TTM:19%
Stock Price CAGR
10 Years:35%
5 Years:39%
3 Years:49%
1 Year:86%
Return on Equity
10 Years:17%
5 Years:19%
3 Years:20%
Last Year:20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
62 62 58 58 58 58 58 58 58 58 58 60
Reserves 1,212 1,636 1,793 1,910 2,008 2,238 2,705 3,124 3,506 4,070 4,873 6,796
Borrowings 1,032 973 1,228 1,704 2,175 2,435 2,515 2,396 3,142 3,730 4,135 3,008
718 877 888 902 1,227 1,152 1,146 1,389 1,657 2,029 1,796 3,065
Total Liabilities 3,024 3,548 3,968 4,575 5,469 5,883 6,424 6,968 8,363 9,888 10,862 12,929
1,944 2,036 2,078 2,340 3,551 3,922 4,113 4,405 5,122 5,609 6,368 7,827
CWIP 133 113 417 565 112 104 117 259 559 754 1,393 772
Investments 7 116 141 151 37 94 165 196 122 101 203 417
940 1,283 1,332 1,518 1,769 1,762 2,029 2,109 2,561 3,424 2,899 3,914
Total Assets 3,024 3,548 3,968 4,575 5,469 5,883 6,424 6,968 8,363 9,888 10,862 12,929

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
571 609 665 423 347 542 1,090 645 678 896 1,304 1,772
-307 -280 -563 -672 -657 -500 -667 -613 -1,174 -1,039 -1,179 -1,500
-183 -290 -53 300 205 -18 -182 -284 495 246 -199 -251
Net Cash Flow 81 40 48 50 -106 24 241 -252 -1 103 -73 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 26% 31% 23% 12% 8% 11% 14% 14% 11% 14% 14% 18%
Debtor Days 53 52 44 49 63 49 41 50 44 53 45 55
Inventory Turnover 5.39 5.15 5.30 4.84 4.30 3.94 3.80 3.76 3.93 4.17 3.59 3.55

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
52.38 52.32 52.32 52.32 52.32 52.32 52.32 52.32 52.32 52.32 50.77 50.77
19.62 18.67 19.20 17.10 18.17 18.50 18.43 18.30 17.09 17.11 19.38 18.43
9.45 10.37 9.29 11.58 11.34 11.87 11.58 11.32 11.32 11.34 11.23 11.16
18.55 18.63 19.19 19.00 18.16 17.31 17.67 18.06 19.27 19.23 18.62 19.64

Documents