SRF (SRF) · mywealthgrid

Loading page…

About

Specialty chemicals conglomerate with stated leadership in fluorochemicals and technical textiles. ₹77,241 Cr market cap; quarterly standalone revenues ₹2,800–5,033 Cr; operating margins 21.6%. 1-year return –10.26% despite operational strength signals market sees headwinds.

Founded: 1970
Face value: ₹10

Market cap

₹73,691 Cr

P/E

34.1×

P/B

5.3×

Dividend yield

0.6%

ROE

13.8%

ROCE

15.8%

Debt / equity

0.36

OPM

21.6%

EPS (TTM)

₹72.7

Book value

₹472.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 35.73 and –10.26% 1y return signal valuation risk—verify earnings growth trajectory
21.6% OPM is high; vulnerable to input costs and pricing—verify fluorochemicals cost dynamics
Revenue swings ₹2,850–5,033 Cr/quarter suggest cyclicality or customer concentration—verify underlying drivers
ROE 13.76% despite 21.6% OPM suggests capital intensity—verify asset turnover and cash conversion

Generated analysis · source review pending

Growth drivers

Fluorochemicals leadership offers growth if category demand expands—verify addressable market size and SRF's competitive share
21.6% OPM delivers strong profit on incremental revenue—verify if company pursues price or volume growth
Low leverage (D/E 0.36) and regular dividends indicate cash generation—verify capex intensity and reinvestment strategy

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹2,486.2+2.7%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 21.6%

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

66/100

Business quality: 54
Growth: 100
Valuation: 45

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 50 NIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Solar Industries India LimitedSOLARINDSSOLARINDS	₹1,75,570 Cr	₹1,77,038 Cr	₹11,351 Cr	₹3,102 Cr	26.7%	₹1,991 Cr	17.7%	34.2%	31.5%	152
Pidilite IndustriesPIDILITINDPIDILITIND	₹1,49,006 Cr	₹1,49,112 Cr	₹15,399 Cr	₹3,772 Cr	24.1%	₹2,649 Cr	16.9%	30%	23.8%	66
SRFSRFSRF	₹73,691 Cr	₹78,695 Cr	₹17,001 Cr	₹3,817 Cr	21.6%	₹2,162 Cr	11.6%	15.8%	13.8%	69
Linde India LimitedLINDEINDIALINDEINDIA	₹53,291 Cr	₹53,291 Cr	₹2,654 Cr	₹913 Cr	35.9%	₹546 Cr	21.7%	15.9%	13.6%	-217
Coromandel International LimitedCOROMANDELCOROMANDEL	₹52,026 Cr	₹52,893 Cr	₹32,602 Cr	₹3,190 Cr	10.2%	₹1,778 Cr	6%	23.3%	16.5%	76
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Fertilizers And Chemicals Travancore LimitedFACTFACT	₹47,559 Cr	₹49,329 Cr	₹5,293 Cr	₹105 Cr	2.3%	₹28 Cr	1%	17.5%	3%	86
Upl LimitedUPLUPL	₹43,628 Cr	₹65,674 Cr	₹52,804 Cr	₹9,326 Cr	17.9%	₹2,020 Cr	4.3%	11.2%	6%	135
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
PI IndustriesPIINDPIIND	₹33,920 Cr	₹34,158 Cr	₹6,516 Cr	₹1,548 Cr	25.3%	₹1,125 Cr	19.7%	14.4%	12.2%	157
Himadri Speciality Chemical LimitedHSCLHSCL	₹33,557 Cr	₹34,323 Cr	₹4,974 Cr	₹1,005 Cr	20.6%	₹799 Cr	16.2%	23.4%	17.8%	103
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,898	5,137	5,685	7,209	8,400	12,434	149	13,139	14,693	15,787
COGS	2,331	2,419	3,032	3,687	4,019	6,067	74	6,709	7,699	7,798
Gross profit	2,568	2,718	2,653	3,522	4,381	6,367	75	6,430	6,994	7,989
	1,605	1,748	1,700	2,068	2,236	3,191	39	3,846	4,275	4,579
	963	969	953	1,455	2,145	3,176	35	2,584	2,718	3,410
OPM %	19.7%	18.9%	16.8%	20.2%	25.5%	25.5%	23.7%	19.7%	18.5%	21.6%
Depreciation	275	283	316	389	453	517	6	673	772	852
Interest	130	102	124	201	134	116	2	302	376	278
	28	73	69	152	54	43	1	83	133	22
Profit before tax	585	657	582	1,018	1,612	2,586	28	1,692	1,704	2,302
Tax	155	142	120	-1	414	697	7	357	453	466
Tax %	26.5%	21.6%	20.6%	-0.1%	25.7%	26.9%	23.4%	21.1%	26.6%	20.3%
	430	515	462	1,019	1,198	1,889	22	1,336	1,251	1,835
PAT margin %	8.8%	10%	8.1%	14.1%	14.3%	15.2%	14.5%	10.2%	8.5%	11.6%
EPS (₹)	—	—	80.4	177.3	205.5	63.8	73	45.1	42.4	61.9
EPS adjusted (₹)	14.7	17.6	15.8	—	39.8	63.5	72.8	44.9	42.1	61.7
	—	—	14.9%	7.9%	11.7%	26.3%	9.9%	16%	17%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	58	58	58	60	297	3	297	297	297
Reserves	2,611	3,124	3,506	6,796	8,268	100	11,182	12,329	13,745
	2,101	1,977	2,758	3,391	3,539	44	4,920	4,641	5,004
	1,777	1,811	2,040	2,682	3,672	41	4,083	4,290	5,100
Total equity & liabilities	6,548	6,971	8,363	12,929	15,777	188	20,482	21,557	24,147
	4,110	4,405	5,122	7,827	8,425	101	13,242	13,720	13,926
CWIP	117	259	559	772	1,672	24	805	811	1,889
Investments	162	196	122	417	321	5	527	827	687
	2,158	2,112	2,561	3,914	5,359	58	5,908	6,199	7,644
Total assets	6,548	6,971	8,363	12,929	15,777	188	20,482	21,557	24,147

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Chemicals Business (CB)	7,778.97	2,262.87	11,886.26	1,316.91	10,569.35	21.41
Performance Films & Foil Business (PFB)	5,764.23	507.55

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	46.7%	48.9%	52.2%	51.2%	50.3%	48.9%	47.6%	50.6%
EBITDA margin %	16.8%	20.2%	25.5%	25.5%	23.7%	19.7%	18.5%	21.6%
EBIT margin %	11.2%	14.8%	20.1%	21.4%	19.9%	14.5%	13.3%	16.2%
PAT margin %	8.1%	14.1%	14.3%	15.2%	14.5%	10.2%	8.5%	11.6%
Working capital
Receivable days	44	—	55	53	44	54	54	59
Inventory days	115	—	133	129	112	127	111	131
Payable days	126	—	144	126	110	120	111	121
NWC days	33	—	45	55	46	61	55	69
Leverage
Current ratio	0.97	—	1.1	1.18	1.17	1.03	1.13	1.1
Debt to EBITDA	2.9	—	1.58	1.11	1.23	1.9	1.71	1.47
Debt to equity	0.77	—	0.49	0.41	0.42	0.43	0.37	0.36
Interest coverage	5.7	5.6	13	23.3	14.8	6.6	5.5	9.6
Asset turnover	0.68	—	0.65	0.79	0.79	0.64	0.68	0.65
Return ratios
Return on assets %	5.5%	—	9.3%	12%	11.5%	6.5%	5.8%	7.6%
Return on capital employed %	13.1%	—	18.7%	26.1%	0.5%	26.3%	13.4%	15.8%
Return on equity %	13%	—	17.5%	22.1%	20.9%	11.6%	9.9%	13.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.53%	50.53%	50.3%	49.72%	50.03%	50.35%	50.18%	50.44%	50.26%	50.26%	50.26%	50.26%
	19.79%	19.6%	19.08%	18.55%	18.81%	18.41%	19.15%	18.55%	17.98%	17.48%	16.66%	15.45%
	14.13%	14.53%	15.97%	13.26%	13.46%	13.15%	13.22%	12.74%	19.53%	20.18%	21.17%	22.44%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0.04%	0.04%	0.04%	0.04%
	15.55%	15.34%	14.65%	18.47%	17.7%	18.09%	17.45%	18.28%	12.19%	12.04%	11.86%	11.8%
No. of shareholders	—	—	—	—	—	—	—	—	1,91,991	1,81,280	1,80,341	1,77,423

Promoter holding down 0.27 percentage points since Sep 2023.

25 deals · 30 Nov 2021 – 14 Nov 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	2,42,659	₹2,388.70	₹57.96 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	2,42,659	₹2,388.70	₹57.96 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	2,42,660	₹2,547.90	₹61.83 Cr
3 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	2,42,660	₹2,547.90	₹61.83 Cr
25 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	1,30,550	₹2,547.50	₹33.26 Cr
25 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	1,30,550	₹2,547.50	₹33.26 Cr
17 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	2,05,159	₹2,496.60	₹51.22 Cr
17 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	2,05,159	₹2,496.60	₹51.22 Cr
11 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	2,00,614	₹2,540.90	₹50.97 Cr
11 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	2,00,614	₹2,540.90	₹50.97 Cr

1–10 of 25

1 / 3

Mr. Ashish Bharat RamExecutive Director-Chairperson related to Promoter-MD
Mr. Prashant YadavPresident & CEO (FCB & TTB)
Sanjay ChatrathPresident & CEO (TTB)
Mr. Kartik Bharat RamExecutive Director-MD
Mr. Vellayan SubbiahNon-Executive - Non Independent Director
Mr. Pramod Gopaldas GujarathiExecutive Director
Mr. Puneet Yadu DalmiaNon-Executive - Independent Director
Mr. Rahul JainChief Financial Officer
Mr. Yash GuptaNon-Executive - Independent Director
Mr. Raj Kumar JainNon-Executive - Independent Director
Mrs. Bharti Gupta RamolaNon-Executive - Independent Director

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹2,472.5 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹2,483.0	+34.1	+1.4%	₹2,483.0	20,525	+70	1,739	200
23 Nov 2026	₹2,492.2	+28.4	+1.2%	₹2,492.2	310	+1	35	200
29 Dec 2026	₹2,530.0	+73.9	+3%	₹2,511.5	5	+5	5	200

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

8.47%

of the company's equity

All mutual funds

13.47%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

88 schemes · 14 fund houses

		Shares
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	62 L	1,587.45	2.82%	2.092%	—
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	40.58 L	1,038.89	1.46%	1.369%	—
Midcap Fund	SBI Mutual Fund	21 L	537.68	2.19%	0.709%	-0
Portfolio of Kotak Large & Mid Cap FundNEW	Kotak Mahindra Mutual Fund	17.5 L	448.07	1.39%	0.59%	—
Midcap Fund	Axis Mutual Fund	13.91 L	356.26	1.01%	0.469%	-0
Large & Mid Cap Fund	DSP Mutual Fund	10.16 L	260.11	1.41%	0.343%	-0
Portfolio of Kotak Multi Cap FundNEW	Kotak Mahindra Mutual Fund	9.1 L	232.88	0.76%	0.307%	—
Mid Cap Fund	DSP Mutual Fund	8.99 L	230.06	1.09%	0.303%	-0

1–8 of 88

1 / 11

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

22 announcementsExport CSV

1 Oct 2026, 6:27 pmCompany Update

Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

30 Sept 2026, 5:10 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 11:30 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

22 Sept 2026, 11:26 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

19 Sept 2026, 2:46 pmInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

19 Sept 2026, 2:20 pmInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

10 Sept 2026, 8:42 amInsider Trading / SAST

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011 PDF

29 Jul 2026, 11:55 amCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript PDF

Date	Category	Subject	Filing
1 Oct 2026, 6:27 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
30 Sept 2026, 5:10 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window

Loading announcements…

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	46.7%	48.9%	52.2%	51.2%	50.3%	48.9%	47.6%	50.6%
EBITDA margin %	16.8%	20.2%	25.5%	25.5%	23.7%	19.7%	18.5%	21.6%
EBIT margin %	11.2%	14.8%	20.1%	21.4%	19.9%	14.5%	13.3%	16.2%
PAT margin %	8.1%	14.1%	14.3%	15.2%	14.5%	10.2%	8.5%	11.6%
Working capital
Receivable days	44	—	55	53	44	54	54	59
Inventory days	115	—	133	129	112	127	111	131
Payable days	126	—	144	126	110	120	111	121
NWC days	33	—	45	55	46	61	55	69
Leverage
Current ratio	0.97	—	1.1	1.18	1.17	1.03	1.13	1.1
Debt to EBITDA	2.9	—	1.58	1.11	1.23	1.9	1.71	1.47
Debt to equity	0.77	—	0.49	0.41	0.42	0.43	0.37	0.36
Interest coverage	5.7	5.6	13	23.3	14.8	6.6	5.5	9.6
Asset turnover	0.68	—	0.65	0.79	0.79	0.64	0.68	0.65
Return ratios
Return on assets %	5.5%	—	9.3%	12%	11.5%	6.5%	5.8%	7.6%
Return on capital employed %	13.1%	—	18.7%	26.1%	0.5%	26.3%	13.4%	15.8%
Return on equity %	13%	—	17.5%	22.1%	20.9%	11.6%	9.9%	13.1%

43

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	2,080	₹2.6	86	+21	21
3	0	0	₹397.8	2,100	₹3.5	11	+1	56
0	0	0	₹0.0	2,120	₹3.1	10	+1	1
0	0	0	₹0.0	2,160	₹0.0	0	0	0
0	0	0	₹0.0	2,180	₹0.0	0	0	0
0	0	0	₹0.0	2,200	₹5.1	10	-1	15
0	0	0	₹0.0	2,220	₹0.0	0	0	0
0	0	0	₹0.0	2,240	₹0.0	0	0	0

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,090	645	678	896	1,304	1,772	2,106	29	2,094	2,487	2,554
	-667	-613	-1,195	-1,014	-1,180	-1,500	-1,588	-30	-2,227	-1,484	-1,598
	-182	-284	495	246	-199	-251	-207	2	-72	-1,071	-708
Net cash flow	241	-252	—	—	—	21	311	2	-205	-67	247
Free cash flow	—	—	—	—	—	557	274	0	-123	1,256	738
CFO / Operating profit %	113.3%	66.6%	71.2%	—	89.7%	82.6%	66.3%	82.2%	81%	91.5%	74.9%

SRF

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Announcements

3

40

1

1

43

Announcements

Annual reports

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Chemicals Business (CB) · revenue

SRF

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Dividends40

Board meetings1

Bonus issues1

Option chain43

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Chemicals Business (CB) · revenue

3

3

40

1

1

43