SRF Ltd
NSE: SRF · Commodity Chemicals · sector
₹2,340.00NSE close 2026-10-26
Key numbers
Market cap₹69,362 cr
Price₹2,340.00
52w high / low₹3,201 / ₹2,260
P/E30.4xSector median 15.2x
P/B4.5xSector median 1.3x
Book value₹516.3
Dividend yield0.38%Sector median 0.84%
ROE16.0%Sector median 7.2%
ROCE15.2%Sector median 9.4%
OPM21.4%Sector median 8.6%
Debt / equity0.34xSector median 0.25x
EV/EBITDA18.9xSector median 11.6x
Interest cover11.7x
Current ratio1.25x
Sales growth 3y+373.5%Sector median +1.0%
Profit growth 3y+339.5%Sector median -11.1%
PEG–
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 70 companies in Commodity Chemicals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,174 cr vs borrowings ₹5,004 cr (FY26): borrowings are higher by ₹3,830 cr.
- Operating profit covered interest 11.7x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 5% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹2,340.00 on 2026-10-26: -26.9% from the 52-week high, +3.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,286.50 · low ₹2,143.65
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,491 | 4,313 | 3,819 | 3,640 | 3,713 | 4,615 | 5,033 | 4,904 |
| EBITDA | 620 | 957 | 830 | 774 | 707 | 1,014 | 1,237 | 946 |
| OPM % | 17.7% | 22.2% | 21.7% | 21.3% | 19.0% | 22.0% | 24.6% | 19.3% |
| Other income | 40 | 34 | 29 | 26 | 27 | 25 | 34 | 25 |
| Net profit | 271 | 526 | 432 | 388 | 433 | 582 | 759 | 509 |
| EPS (₹) | 9.15 | 17.75 | 14.58 | 13.10 | 14.60 | 19.63 | 25.60 | 17.18 |
| Revenue YoY | +6.3% | +7.0% | +31.8% | +34.7% | ||||
| Profit YoY | +59.6% | +10.6% | +75.5% | +31.2% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 12,434 | 149 | 13,139 | 14,693 | 15,787 | 18,265 |
| EBITDA | 3,176 | 35 | 2,584 | 2,718 | 3,325 | 3,903 |
| Net profit | 1,889 | 22 | 1,336 | 1,251 | 1,835 | 2,283 |
| EPS (₹) | 63.75 | 72.95 | 45.06 | 42.40 | 61.91 | 77.01 |
| Revenue growth | -98.8% | +8,735.6% | +11.8% | +7.4% | +19.7% | |
| Profit growth | -98.9% | +6,078.1% | -6.4% | +46.7% | +41.1% | |
| Dividend / share (₹) | 16.75 | 7.20 | 7.20 | 7.20 | 9.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +373.5% | +13.4% | +19.7% |
| Net profit | +339.5% | +8.9% | +41.1% |
| EPS | -5.3% | -21.3% | – |
| Share price | – | +0.6% (2y) | -26.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 103 | 11,479 | 12,626 | 14,043 |
| Borrowings | – | 44 | 4,920 | 4,641 | 5,004 |
| Cash & equivalents | – | 11 | 813 | 1,058 | 1,174 |
| Total assets | – | 188 | 20,482 | 21,557 | 24,147 |
| Fixed assets | – | 99 | 13,122 | 13,607 | 13,820 |
| Capital work in progress | – | 24 | 805 | 811 | 1,889 |
| Investments | – | 0 | 121 | 123 | 124 |
| Receivables | – | 18 | 1,943 | 2,169 | 2,562 |
| Inventory | – | 23 | 2,326 | 2,349 | 2,789 |
| Payables | – | 22 | 2,198 | 2,332 | 2,585 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 2,106 | 29 | 2,094 | 2,487 | 2,554 |
| Cash from investing | -1,588 | -30 | -2,227 | -1,484 | -1,598 |
| Cash from financing | -207 | 2 | -72 | -1,071 | -708 |
| Capex | 1,832 | 29 | 2,217 | 1,231 | 1,815 |
| Free cash flow | 274 | 0 | -123 | 1,256 | 738 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 20.9% | 11.6% | 9.9% | 13.1% |
| ROCE % | – | 20.6% | 12.2% | 12.0% | 13.5% |
| Debtor days | – | 44 | 54 | 54 | 59 |
| Inventory days | – | 112 | 127 | 111 | 131 |
| Payable days | – | 110 | 120 | 111 | 121 |
| Cash conversion cycle (days) | – | 46 | 61 | 54 | 69 |
| Working capital days | – | 21 | 5 | 17 | 16 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 50.26% |
| FIIs | 15.20% |
| DIIs | 22.51% |
| of which Mutual funds | 13.60% |
| of which Insurance | 7.19% |
| Government | 0.04% |
| Public (non-institutions) | 11.99% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 50.26% | 50.26% | 50.26% | 50.26% | 50.26% | 50.26% | 50.26% | 50.26% |
| Promoter group | % |
|---|---|
| Kama Holdings Limited | 49.13% |
| KAMA Realty (Delhi) Ltd | 1.08% |
| Arun Bharat RAM | 0.03% |
| Kartik Bharat RAM | 0.01% |
| Ashish Bharat RAM | 0.01% |
| Vasvi Bharat Ram | 0.00% |
| Radhika Bharat Ram | 0.00% |
| Kairavi Bharat Ram | 0.00% |
| Apoorvi Bharat Ram | 0.00% |
| Maahir Bharat Ram | 0.00% |
| Ahaana Bharat Ram | 0.00% |
| SRF Altech Limited | 0.00% |
| SRF Holiday Home Limited | 0.00% |
| SRF Global BV | 0.00% |
| SRF Industries (Thailand) Ltd | 0.00% |
| Public holders above 1% | % |
|---|---|
| Kotak Mahindra Trustee Co Ltd A/C Kotak Nifty Midc | 5.07% |
| Lici NEW Endowment Plus-secured Fund | 3.51% |
| Government Pension Fund Global | 1.89% |
| Government of Singapore | 1.75% |
| NPS Trust A/C - LIC Pension Fund - UPS Pool CG SC | 1.58% |
| Amansa Holdings Private Limited | 1.17% |
| SBI Nifty Midcap 150 ETF | 1.05% |
1,84,708 shareholders. Pledged: 0.00% of promoter shares.
Peers in Commodity Chemicals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SRF | ₹69,362 cr | 30.4x | 4.5x | 16.0% | 15.2% | 21.4% | +373.5% | 0.38% |
| TATACHEM | ₹15,184 cr | – | 0.7x | -10.1% | -4.2% | -1.6% | -4.6% | 1.84% |
| DEEPAKFERT | ₹14,422 cr | 14.7x | 2.1x | 15.1% | 13.6% | 16.7% | +0.6% | 0.89% |
| GNFC | ₹7,634 cr | 7.4x | 0.8x | 11.7% | 15.2% | 14.8% | -8.7% | 3.41% |
| TANFACIND | ₹4,989 cr | 66.3x | 13.4x | 19.7% | 20.5% | 15.5% | +23.8% | – |
| GUJALKALI | ₹4,043 cr | 60.9x | 0.8x | 1.2% | 3.6% | 11.3% | -1.2% | 2.88% |
| GRAUWEIL | ₹3,537 cr | 22.1x | 3.3x | 15.9% | 19.6% | 15.3% | +6.8% | 0.64% |
| GHCL | ₹3,486 cr | 6.7x | 1.0x | 14.9% | 19.9% | 24.8% | -12.3% | 3.29% |
| JGCHEM | ₹2,190 cr | 29.1x | 4.1x | 15.1% | 19.8% | 8.9% | – | 0.18% |
| IGPL | ₹1,596 cr | 19.6x | 1.2x | 6.1% | 9.4% | 10.0% | -6.5% | 1.93% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Chemicals Business (CB) | ₹7,779 cr | 49.3% | ₹2,263 cr | 29.1% |
| Performance Films & Foil Business (PFB) | ₹5,764 cr | 36.5% | ₹508 cr | 8.8% |
| Technical Textiles Business (TTB) | ₹1,877 cr | 11.9% | ₹190 cr | 10.1% |
| Others | ₹366 cr | 2.3% | ₹47 cr | 12.8% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-28 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2026-01-27 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2025-07-29 | Dividend | Interim Dividend - Rs 4 Per Sh |
| 2025-02-04 | Dividend | Interim Dividend - Rs 3.6 Per Sh |
| 2024-07-31 | Dividend | Interim Dividend - Rs 3.60 Per Share |
| 2024-02-07 | Dividend | Interim Dividend - Rs 3.60 Per Share |
| 2023-08-01 | Dividend | Interim Dividend - Rs 3.60 Per Share |
| 2023-02-07 | Dividend | Interim Dividend - Rs 3.60 Per Share |
| 2022-07-28 | Dividend | Interim Dividend- Rs 3.60 Per Share |
| 2022-02-03 | Dividend | Interim Dividend - Rs 4.75 Per Share |
| 2021-10-13 | Bonus | Bonus 4:1 |
| 2021-08-05 | Dividend | Interim Dividend - Rs 12 Per Share |
| 2021-01-29 | Dividend | Interim Dividend - Rs 19 Per Share |
| 2020-08-06 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2020-02-10 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2019-08-13 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2019-07-26 | Other | Annual General Meeting |
| 2019-02-11 | Dividend | Interim Dividend - Rs 6 Per Share |
| 2018-08-14 | Dividend | Interim Dividend- Rs 6 Per Share (Purpose Revised) |
| 2018-07-30 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Chemicals Business: The Chemicals Business consists of two segments, namely Specialty Chemicals and Fluorochemicals located in Dahej, Gujarat and Bhiwadi, Rajasthan.
- Performance Films & Foil Business: The Performance Films & Foil Business (PFB) primarily focuses on polyester films. Its manufacturing operations are located in Indore, Madhya Pradesh (three plants).
- Technical Textiles Business: The Technical Textiles Business (TTB) consists of manufacturing of Tyre Cord Fabrics, Belting Fabrics and Industrial Yarn. TTB has manufacturing facilities located in Manali, Gummidipoondi and Viralimalai in Tamil Nadu and Malanpur in Madhya Pradesh.
- Laminated Fabric Business: Manufactures PVC laminated polyester fabrics. Located at Kashipur in Uttarakhand.
- Coated Fabric Business: Manufactures yarn, weaving, coating, printing and lacquering. Located at Gummidipoondi in Tamil Nadu.
| Sector | Commodities |
| Industry | Commodity Chemicals |
| Sub-industry | Commodity Chemicals |
| Symbol | SRF |
| BSE code | 503806 |
| ISIN | INE647A01010 |
| Face value | ₹10.0 |
| Incorporated | 1970-01-09 |
| Website | www.srf.com |
| Plants (India / abroad) | 10 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.