SRF Ltd. share price target

SRF's revenue grew 23.3% YoY to INR13.97b (est. ofINR13.26b) in 3QFY18. Chemicals segment grew by 18.5% YoY, Packaging rose by 28.3% YoY, and Technical textile grew by 5.3% YoY. EBITDA margin contracted 230bp YoY to 18.1% (est. of 17.8%) in 3QFY18 due to higher-than-expected raw material cost (52.6% of net sales v/s est. of 48.0%).EBITDA rose by 9.3% YoY to INR2,527m (est. of INR2,360m) and adj. PAT grew by 17.2% YoY to INR1,312m (est. of INR1,030m). PBIT margin came in at 14.9% for Technical textile v/s 13.4% in 3QFY17; 16.6% for Chemical v/s16.3% in 3QFY17; and 12.1% for Packaging v/s 14.2% in 3QFY17.

SRF Ltd: Q2FY18 Result Update : Visible green shoots in the specialty chemical business has strengthened our belief of an turnaround in the business from Q4FY18 and we expect the division to...

SRF Ltd Q2FY18 results comment Revenue fell by 0.21% to Rs. 1269.98 Cr in Q2FY18 when compared to the previous quarter. On the other hand, it increased by 13.12% when compared with Q2FY17.

SRF Ltd's (SRF) consolidated Q1FY18 sales came ~5% below our estimates and ~6% higher yoy driven by lower than expected growth in the Chemicals and Polymers Business (CPB) while growth...

Revenue decreased by 2.56% to Rs. 1272.66 Cr in Q1FY18 when compared to the previous quarter Revenue decreased by 2.56% to Rs. 1272.66 Cr in Q1FY18 when compared to the previous quarter

Revenue grew by 20.23% to Rs. 1071.85 Cr in Q4FY17 when compared to the previous quarter.

SRF Ltd's (SRF) consolidated Q4FY17 sales came ~9% above our estimates and ~19% higher yoy driven by better than expected growth in the Technical Textiles Business (TTB) and Packaging...

SRFs 4QFY17 revenue came in at Rs 13.3bn ( 19% YoY), owing to strong growth in Technical Textiles (23%) and Packaging (26%). Lower margins across segments led to EBITDA margin of 16.3% (-393bps). EBITDA was muted at Rs 2.2bn (-4%). Lower interest cost and higher other income boosted PAT to Rs 1.3bn ( 16%).

Revenue fell by 0.63% to Rs. 1115.58 Cr in Q3FY17 when compared to the previous quarter. On the other hand, it rose by 3.46% when compared with Q3FY16.

SRF Ltd?s (SRF) consolidated Q3FY17 sales came ~6% below our estimates but ~3% higher yoy. EBITDA was in line with our estimates at INR 227 cr while PAT at INR 105 cr was higher than our...