Is SRF a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that SRF Ltd is a good quality company .

Is SRF undervalued or overvalued?

The key valuation ratios of SRF Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is SRF share price return in the past 10 years?

SRF Ltd share price has appreciated 28.2% annually (CAGR) over the past ten years.

Is SRF a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of SRF Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

SRF Ltd - Stock Valuation and Financial Performance

Name: SRF
Brand: SRF

BSE: 503806 | NSE: SRF | Chemicals | Mid Cap

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SRF Share Price

₹2,155 -43.70 -1.99%
as on 21-Nov'24 14:31

10 Year X-Ray of SRF:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	12.1%	14.3%	14%	11.5%	13.3%	13.3%	18.2%	24.2%	22.6%	12.8%	-
Value Creation Index ⓘ	-0.1	0.1	0.0	-0.2	0.0	0.2	0.6	1.2	1.0	0.1	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	4,540	4,593	4,822	5,589	7,100	7,209	8,400	12,434	14,870	13,139	13,236
Sales YoY Gr.	-	1.2%	5%	15.9%	27%	1.6%	16.5%	48%	19.6%	-11.7%	-
Adj EPS ⓘ	9.5	15.2	17.3	14.9	21.2	31.6	40.2	61.9	75.3	46.8	38.1
YoY Gr.	-	59.1%	14%	-13.5%	41.7%	49.5%	26.9%	54.2%	21.5%	-37.9%	-
BVPS (₹) ⓘ	78.9	96.2	110.8	124.1	143.6	171.6	231.4	288.8	348	386.5	404.7
Adj Net Profit ⓘ	273	435	496	429	608	909	1,190	1,836	2,231	1,386	1,129
Cash Flow from Ops. ⓘ	542	1,090	645	678	896	1,304	1,772	2,106	2,902	2,094	-
Debt/CF from Ops. ⓘ	4.5	2.3	3.7	4.6	4.2	3.1	1.9	1.7	1.5	2.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	12.5%	13.1%	16.1%	-11.7%
Adj EPS ⓘ	19.3%	17.2%	5.2%	-37.9%
BVPSⓘ	19.3%	21.9%	18.7%	11.1%
Share Price	28.2%	27.9%	-0.5%	-8.5%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	12.5	17.2	16.7	12.7	15.8	20.1	20.2	23.8	23.6	12.7	9.6
Op. Profit Mgn % ⓘ	16	21.2	20.1	16.2	18.6	20.2	25.4	25	24.4	20.3	18.7
Net Profit Mgn % ⓘ	6	9.5	10.3	7.7	8.6	12.6	14.2	14.8	15	10.6	8.5
Debt to Equity ⓘ	1.1	0.9	0.8	0.9	0.9	0.8	0.5	0.4	0.4	0.4	0.2
Working Cap Days ⓘ	125	123	130	141	149	149	136	124	122	145	76
Cash Conv. Cycle ⓘ	77	61	39	29	32	40	35	39	46	60	2

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.08%

Return on Equity has declined versus last 3 years average to 9.60%

Net Profit has been subdued in last 3 years 5.20%

Sales growth is not so good in last 4 quarters at -1.66%

Latest Financials - SRF Ltd.

	Standalone	Consolidated
TTM EPS (₹)	39.6	38.1
TTM Sales (₹ Cr.)	10,599	13,236
BVPS (₹.) ⓘ	367.6	404.7
Reserves (₹ Cr.) ⓘ	10,599	11,700
P/BV ⓘ	5.98	5.43
PE ⓘ	55.47	57.71

From the Market
52 Week Low / High (₹)	2088.55 / 2697.45
All Time Low / High (₹)	1.40 / 2864.35
Market Cap (₹ Cr.)	65,175
Equity (₹ Cr.)	296.4
Face Value (₹)	10
Industry PE ⓘ	56.1

Management X-Ray of SRF:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of SRF

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of SRF

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	4,540	4,593	4,822	5,589	7,100	7,209	8,400	12,434	14,870	13,139
Operating Expenses ⓘ	3,822	3,630	3,853	4,683	5,803	5,754	6,267	9,330	11,341	10,554
Manufacturing Costs	732	715	782	986	1,120	1,289	1,421	2,212	2,705	2,444
Material Costs	2,548	2,330	2,419	3,032	3,967	3,687	4,019	6,067	7,394	6,709
Employee Cost	344	373	419	458	442	518	594	742	769	893
Other Costs ⓘ	199	212	234	207	273	261	233	310	474	509
Operating Profit ⓘ	717	963	969	906	1,297	1,455	2,133	3,103	3,529	2,584
Operating Profit Margin (%)	15.8%	21.0%	20.1%	16.2%	18.3%	20.2%	25.4%	25.0%	23.7%	19.7%
Other Income ⓘ	65	28	73	115	28	49	66	116	75	83
Interest ⓘ	138	130	102	124	198	201	134	116	205	302
Depreciation ⓘ	245	275	283	316	358	389	453	517	575	673
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	399	585	657	582	768	915	1,613	2,586	2,824	1,692
Tax ⓘ	97	155	142	120	177	-1	414	697	662	357
Profit After Tax	303	430	515	462	592	916	1,198	1,889	2,162	1,336
PAT Margin (%)	6.7%	9.4%	10.7%	8.3%	8.3%	12.7%	14.3%	15.2%	14.5%	10.2%
Adjusted EPS (₹)	10.6	15.0	17.9	16.1	22.3	35.5	40.4	63.7	73.0	45.1
Dividend Payout Ratio (%)	19%	13%	13%	15%	11%	8%	12%	26%	10%	16%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	2,296	2,763	3,183	3,565	4,129	4,932	6,854	8,562	10,315	11,459
Share Capital ⓘ	58	58	58	58	59	59	60	297	297	297
Reserves ⓘ	2,238	2,705	3,124	3,506	4,070	4,873	6,794	8,265	10,018	11,161
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	2,024	2,130	1,977	2,758	3,289	3,267	2,931	2,795	3,863	3,844
Long Term Debt	1,788	1,940	1,432	1,907	2,161	2,312	1,965	1,753	2,312	2,251
Short Term Debt	236	189	546	851	1,127	955	966	1,042	1,551	1,593
Trade Payables	581	715	809	1,044	1,382	1,112	1,585	2,096	2,231	2,198
Others Liabilities ⓘ	981	817	999	996	1,088	1,552	1,541	2,311	2,326	2,954
Total Liabilities ⓘ	5,883	6,424	6,968	8,363	9,888	10,863	12,911	15,765	18,736	20,454
Fixed Assets
Gross Block	6,681	4,386	4,963	5,993	6,837	7,941	9,856	10,900	13,063	16,864
Accumulated Depreciation	2,758	273	558	871	1,228	1,574	2,029	2,474	3,013	3,623
Net Fixed Assetsⓘ	3,922	4,113	4,405	5,122	5,609	6,368	7,827	8,425	10,050	13,242
CWIP ⓘ	102	113	259	559	754	1,393	772	1,672	2,406	805
Investmentsⓘ	94	165	196	122	101	203	417	321	494	527
Inventories	764	671	838	958	1,225	1,201	1,466	2,138	2,274	2,326
Trade Receivables	611	514	657	681	1,029	891	1,275	1,792	1,786	1,943
Cash Equivalents	107	389	96	97	199	125	282	459	616	408
Others Assetsⓘ	283	458	518	825	972	681	873	957	1,110	1,204
Total Assets ⓘ	5,883	6,424	6,968	8,363	9,888	10,863	12,911	15,765	18,736	20,454

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	542	1,090	645	678	896	1,304	1,772	2,106	2,902	2,094
PBT ⓘ	399	585	657	582	827	1,071	1,610	2,586	2,824	1,692
Adjustment ⓘ	329	392	360	405	536	401	541	586	646	899
Changes in Working Capital ⓘ	-101	221	-256	-191	-317	-24	-124	-664	-60	-114
Tax Paid ⓘ	-85	-109	-116	-118	-150	-143	-255	-402	-508	-383
Cash Flow From Investing Activity ⓘ	-500	-667	-613	-1,195	-1,014	-1,180	-1,500	-1,588	-2,961	-2,227
Capex	-484	-579	-641	-1,283	-1,053	-1,373	-1,205	-1,817	-2,852	-2,202
Net Investments	-63	-58	-22	84	33	-93	-189	103	-164	-49
Others ⓘ	48	-30	50	4	5	285	-106	127	55	23
Cash Flow From Financing Activityⓘ	-18	-182	-284	495	246	-199	-251	-207	220	-72
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	738	0	0	0
Net Proceeds from Borrowing ⓘ	273	64	-455	409	268	320	-686	62	174	506
Interest Paid ⓘ	-139	-132	-111	-130	-224	-204	-157	-117	-194	-361
Dividend Paid ⓘ	-57	-57	-69	-69	-69	-80	-141	-212	-213	-214
Others ⓘ	-95	-56	351	284	271	-235	-5	59	454	-2
Net Cash Flow ⓘ	24	241	-252	-22	127	-75	21	311	160	-205

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	14.08	17.1	17.33	13.69	15.38	20.22	20.34	24.51	22.91	12.27
ROCE (%)	12.05	14.34	13.98	11.49	13.27	13.25	18.17	24.17	22.61	12.83
Asset Turnover Ratio	0.86	0.8	0.77	0.76	0.76	0.7	0.72	0.87	0.87	0.69
PAT to CFO Conversion(x)	1.79	2.53	1.25	1.47	1.51	1.42	1.48	1.11	1.34	1.57
Working Capital Days
Receivable Days	49	42	42	42	45	48	46	45	43	51
Inventory Days	57	53	54	57	57	61	57	52	53	63
Payable Days	44	55	92	112	105	112	112	94	80	86

SRF Ltd Stock News

SRF Ltd FAQs

What is the share price of SRF?

Company share prices are keep on changing according to the market conditions. The closing price of SRF on 21-Nov-2024 14:31 is ₹2,155.

What is the market cap of SRF?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 14:31 the market cap of SRF stood at ₹65,174.9.

What is the P/E ratio of SRF?

The latest P/E ratio of SRF as of 21-Nov-2024 14:31 is 55.47.

What is the P/B ratio of SRF?

The latest P/B ratio of SRF as of 21-Nov-2024 14:31 is 5.98.

What is the 52-week high and low of SRF?

The 52-week high of SRF is ₹2,697.5 and the 52-week low is ₹2,088.6.

What is the TTM revenue of SRF?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SRF is ₹10,599 ( Cr.) .

About SRF Ltd

SRF began as Shri Ram Fibres in 1970 when its parent company DCM decided to set up a separate entity to manufacture nylon tyre cord fibres. Its formation was a result of the foresight that nylon was the future material for tyre cord fibres. The company established its first plant in Manali near Chennai in 1973. Over the years, the company not only expanded its product range under the Technical Textiles but also diversified into many adjacent businesses. Besides Technical Textiles, the company’s business profile constitutes Fluorochemicals, Specialty Chemicals and Packaging Films. Equipped with state-of-the-art R&D facilities, the company boasts of its Chemical Technology Group that is actively involved in process innovations and product development.

Business area of the company

The Company is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company classifies its businesses as Technical Textiles, Chemicals, Packaging Films and Other Businesses.

Products

The company’s product portfolio broadly categorized into - Technical Textiles, Chemicals and Packaging Films.

Milestones

1970: Incorporated as Shri Ram Fibres
1973: The Company established its first plant in Manali near Chennai.
1974: Commenced operations of nylon tyre cord at Manali.
1977: Production of fishnet twines started.
1979: Commenced production of nylon engineering plastics.
1983: Commissioning of belting fabrics at Viralimalai.
1986: Set up SRF Finance Ltd.
1986: Commissioning of coated fabrics at Viralimalai.
1989: Entered Chemicals Business with production of refrigerants.
1990: Shri Ram Fibres renamed as SRF Ltd.
1993: Divested SRF Nippondenso.
1995: Commercial production of Chloromethanes.
1995: Ventured into Packaging Films Business.
1995: Started Vision Care Division at Bangalore.
1996: Set up the company’s first overseas plant (tyre cord) in Dubai.
1996: Acquired Ceat’s tyre cord fabrics plant situated at Gwalior.
1997: Divested Vision Care Division.
1997: Divested SRF Finance Ltd. to GE Capital.
2000: Acquired Dupont’s tyre cord fabrics plant situated at Gummidipoondi.
2002: Polyester films, fishnet twines and engineering plastics businesses spun off as a separate entity; SRF Polymers Ltd.
2004: Became the first tyre cord company outside Japan to win the Deming Prize.
2008: Acquired two foreign companies - Thailand based Thai Baroda Industries Limited (TBIL), a manufacturer of nylon tyre cord, and South Africa based Industex Technical Textile (Pty) Limited, a manufacturer of belting fabrics.
2009: Purchase of two businesses of SRF Polymers Ltd., the Engineering Plastics and the Industrial Yarn Business.
2009: Became the first Indian manufacturer of polyester industrial yarn (PIY) by setting up a 14,400 MT PIY for producing PIY to be used in radial tyres, conveys belts and coated fabrics.
2010: Ventured into Laminated Fabrics by setting up a green-field plant of 900 sqm annual capacity at Kashipur.
2012: Commenced operations in the newly commissioned Chemical Complex at Dehej in Gujarat.
2012: Wins the prestigious Deming Prize for the Chemicals Business.
2013: Set up green-field facility for BOPET films in Thailand.
2013: Ventured into BOPP films by setting up a green-field plant in South Africa.
2014: Scaled up its HFC 134a capacity by three fold to around 17,500 tonnes per annum with the commissioning for its second HFC 134a plant of 12,500 tpa capacity at Dahej.
2015: SRF acquires Global DuPont Dymel HFC 134a Pharma Business.
2017: SRF inks Pact to Buy Mexichem’s HFC-125 Assets.