SRF Ltd. share price target

SRF has revised its capex for the next-generation refrigerants (HFO) project to 2,285 crore (vs 1,100 crore earlier). This will take the company's total HFC capacity to 65000 TPA from the current 52000 TPA....

SRF delivered a strong performance in 1QFY27 as EBIT grew 61% YoY, led by a 27%/1.9x/1.5x YoY jump in EBIT of chemicals/technical textiles business (TTB)/ performance films and foil (PFF) businesses.

SRF delivered a strong performance in Q1FY27 propelled by robust growth in all the key business verticals. Revenue, EBITDA and PAT grew by 32%, 49% and 76% respectively. The Chemicals business registered a growth of 26% YoY and EBIT growth of 27% YoY led by strong Ref-Gas pricing as well as higher volumes across domestic and exports markets. In terms of Specialty Chemicals business positive demand trends have been seen in set of core products in volumes as well as prices. The recovery in the agrochemical segment is expected...

FY26 was characterized by a volatile and uncertain global environment, with the geopolitical tensions in the Middle East disrupting trade flows and supply chains.

Q4FY26- Slowdown in Chemicals impact revenues- Revenues in Q4FY26 grew 7.5% YoY to 4,532 crore. Segment wise, Chemicals business (53% of the revenues) reported a growth of 4% YoY to 2,448.3 crore. Performance films (35% of revenues), was up 13% YoY to 1,595 crore and Technical Textiles (10% of revenues) reported an uptick of 5.3% to 482 crore. GPM, for the quarter stood at 50.5%, up 200 bps YoY. EBITDA stood at 1,026 crore, up 7% YoY, translating to margins of 22.2%, flat YoY. PAT for the quarter stood at 582 crore, up 11% YoY. For FY26, the revenues stood at...

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SRF delivered a healthy performance in 4QFY26 as EBIT grew 14% YoY, led by a 5%/47%/63% YoY jump in the EBIT of Chemicals/Performance Films and Foil (PFF)/Technical Textiles Business (TTB).

SRF delivered results which were surpassed our estimates. While Revenue grew by 7% YoY, EBITDA and Adjusted PAT grew by rates of 7% and 11% from a very strong base quarter in Q4FY25.The chemicals business continued to exhibit strong growth owing to higher HFC pricing and placement of higher volumes in domestic and export markets. SRF delivered on the guidance of a robust Q4FY26 performance on the back of conversion of pent up and deferred orders. Specialty Chemicals Business clocked in steady revenue growth of 16% for FY26 with margins coming in at healthy 29%. SRF is undertaking significant capex into...

*over or under performance to benchmark index SRF Limited manufactures and sells textiles, chemicals, films, and polymers through four business segments: Technical, Chemicals, Packaging, and Others, with diverse...

Q3FY26- Chemicals Business drives growth- Revenues grew 6% YoY to 3,611.5 crore driven by the Chemicals business (49% of the revenues) which reported a growth of 22% YoY to 1,825 crore. Meanwhile performance films (36% of revenues) declined by 3% YoY to 1,342 crore and Technical Textiles (12% of revenues) reported a decline of 11% YoY for the third consecutive quarter to 453 crore. Consolidated EBITDA stood at 780 crore, up 26% YoY, translating to margins of 21%, up ~330 bps YoY driven by the chemical business EBIT which stood at 27%, up ~300 bps YoY....

SRF delivered results which were only marginally below our estimates. While Revenue grew by 6% YoY, EBITDA and Adjusted PAT grew by impressive rates of 26% and 86%. The chemicals business continued to exhibit strong growth owing to higher HFC pricing and placement of higher volumes in domestic and export markets. Although some orders have been deferred on the agro side, the management expects to recoup majority of the same in Q4FY26. Pent up purchase orders are expected to convert in Q4FY26 leading to a robust quarter, a trend which was seen in Q4FY25 as well. Specialty Chemicals Business grew on...

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SRF delivered a healthy performance in 3QFY26 as EBIT surged 25% YoY, fueled by a strong 36% YoY jump in chemical segment EBIT, despite persistent global headwinds.

We remain sanguine on SRF’s chemicals business, with performance potentially improving across ref-gas, specialty chemicals and fluoropolymers. Higher volumes and sustained prices present ~15–20% upside risk in ref-gas business’ base-case revenues vs. a more plausible assessment.

Q2FY26 Chemicals Business drives growth- Revenues grew 6% YoY to 3,534.5 crore driven by the Chemicals business (46% of the revenues) which reported a growth of 23% YoY to 1,667 crore. While technical textiles (13% of the revenue) and Packaging films (39% of revenues) reported a decline of 11% and 1% to 474.3 crore and 1,408 crore respectively. Consolidated EBITDA stood at 774.2 crore, up 44% YoY, translating to margins of 21.3%, up ~560 bps YoY driven by the Chemical business (EBIT) which stood at 29%, up ~1100 bps YoY. Moreover, PAT for...

SRF delivered results in line with our expectations primarily owing to healthy performance in specialty chemicals and higher pricing of refrigerant gases. Higher volumes especially in HFCs also contributed to the growth. While Revenue grew by 6% YoY, EBITDA and PAT grew by impressive rates of 44% and 93% respectively. The chemicals business registered strong revenue growth of 23% YoY along with ~1080 bps of YoY margin improvement to 28.9%. Although some orders have been deferred on the agro side, we expect SRF to recoup the same in H2FY26. The Fluorochemicals part of the business was elevated by...

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SRF delivered a strong 2QFY26, with EBIT surging 55% YoY, fueled by a robust 96%/44% YoY jump in the chemicals/performance films & foil (PFF) businesses, despite ongoing global headwinds.

SRF held a conference call to clarify on the quota regime for refrigerant gases. Companies will be allocated product wise or GWP based quotas, with quota calculations eventually to expressed in GWP terms.

SRF is set to benefit from regulatory shifts and evolving global consumption patterns, particularly under the Kigali Amendment. This will be led by its fully backwardintegrated operations, robust supply chains, and strong international presence.