Business description: SRF Limited

SRF Limited is a chemical-based multi-business company engaged in the manufacturing of industrial and specialty intermediates. The Company's segments include Technical Textiles Business (TTB), Chemicals Business (CB), Packaging Film Business (PFB) and Others. The TTB segment's business includes nylon tire cord fabric, belting fabric, polyester tire cord fabric and industrial yarns and its research and development. The CB segment's business includes refrigerant gases, industrial chemicals, specialty chemicals, fluorochemicals and allied products and its research and development. The PFB segment's business includes polyester films and polypropylene films. The others segment includes coated fabric, laminated fabric and other ancillary activities. The Company has around 12 manufacturing plants in India and one each in Thailand, South Africa and Hungary. The Company exports to over 90 countries. It serves various industries, such as automotive, pharmaceuticals, manufacturing and chemicals.

Number of employees: 7,625

Sales by Activity: SRF Limited

Fiscal Period: March 2021 (INR) 2022 (INR) 2023 (INR) 2024 (INR) 2025 (INR)

Chemicals Business (CB)

3.64TCr 5.24TCr 7.41TCr 6.3TCr 6.69TCr

Performance Films & Foil Business (PFB)

3.29TCr 4.78TCr 5.18TCr 4.49TCr 5.55TCr

Technical Textiles Business (TTB)

1.24TCr 2.09TCr 1.89TCr 1.9TCr 2.03TCr

Others

232.02Cr 340.34Cr 392.61Cr 465.3Cr 427.54Cr

Inter Segment Revenue

-8.7Cr -12Cr -9.87Cr -11Cr -8.07Cr

Geographical breakdown of sales: SRF Limited

Fiscal Period: March 2021 (INR) 2022 (INR) 2023 (INR) 2024 (INR) 2025 (INR)

India

3.64TCr 5.26TCr 6TCr 5.96TCr 7.32TCr

Others

1.7TCr 2.89TCr 2.06TCr 1.99TCr 2.25TCr

USA

576.2Cr 1.44TCr 2.17TCr 1.41TCr 1.22TCr

Switzerland

687.75Cr 827.37Cr 877.46Cr 659.98Cr 746.93Cr

South Africa

475.37Cr 603.51Cr 656.91Cr 552.76Cr 628.66Cr

Belgium

635.51Cr 528.32Cr 871.88Cr 767.81Cr 596.34Cr

Thailand

188.89Cr 353.74Cr 535.03Cr 477.3Cr 530.69Cr

Germany

476.58Cr 462.74Cr 491.99Cr 414.21Cr 363.25Cr

Italy

- - 212.84Cr 211.33Cr 262.6Cr

United Kingdom

- - 448.15Cr 262.7Cr 229.35Cr

UAE

- - 170.84Cr 158.97Cr 187.03Cr

South Korea

- - 161.25Cr 121.95Cr 182.65Cr

Indonesia

- - 189.42Cr 117.22Cr 133.27Cr

Hungary

14Cr 28Cr 30Cr 28Cr 36Cr

Singapore

5.47Cr 43Cr - - -

Executive Committee: SRF Limited

Manager TitleAgeSince
Chief Executive Officer 54 -
Chief Executive Officer 55 01/01/2007
President 55 -
Compliance Officer 53 01/04/2019
Corporate Officer/Principal 73 01/04/2017

Composition of the Board of Directors: SRF Limited

Director TitleAgeSince
Chairman 86 17/11/2009
Chairman 55 -
Director/Board Member 54 17/11/2009
Director/Board Member 55 01/05/2012
Director/Board Member 73 01/04/2017
Director/Board Member 67 04/02/2019
Director/Board Member 53 01/04/2019
Director/Board Member 57 01/04/2019
Director/Board Member 67 09/05/2022
Director/Board Member 52 01/04/2024

Shareholders: SRF Limited

NameEquities%Valuation
50.21 %
14,88,45,000 50.21 % 4 193 M ₹
Kotak Mahindra Asset Management Co. Ltd.
5.001 %
1,48,23,532 5.001 % 418 M ₹
2.565 %
76,02,347 2.565 % 214 M ₹
Amansa Holdings Pvt Ltd.
2.499 %
74,06,385 2.499 % 209 M ₹
Norges Bank Investment Management
1.787 %
52,95,810 1.787 % 149 M ₹

Company details: SRF Limited

SRF Ltd.

Block-C

122003, Gurgaon

+91 12 4435 4400

http://www.srf.com
address SRF Limited(SRF)

Group companies: SRF Limited

NameCategory and Sector
SRF Altech Ltd.
SRF Europe Kft

Diversified Chemicals

Change 5d. change 1-year change 3-years change Capi.($)
-4.95%-4.74%-15.21%+9.52% 800.62Cr
+2.03%+4.55%+47.03%+60.00% 7.59TCr
-0.21%+6.80%-5.99%+5.80% 4.84TCr
-3.42%-6.54%-1.83%+16.90% 1.47TCr
-2.00%-5.58%+53.81%+71.37% 1.37TCr
+0.24%+9.24%-22.76%-27.11% 812.69Cr
-1.80%-10.89%+19.11%+17.41% 786.94Cr
+11.63%+27.13%+154.54%-20.94% 728.2Cr
-7.53%-9.37%-32.03% - 525.85Cr
-0.20%+1.96%-4.17%-4.82% 558.22Cr
Average -0.62%+0.68%+19.25%+14.24% 1.95TCr
Weighted average by Cap. +0.30%+2.92%+24.47%+31.00%
Trader
Investor
Global
Quality
ESG MSCI
B
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
29
Last Close Price
2,498.15INR
Average target price
3,110.21INR
Spread / Average Target
+24.50%

Quarterly revenue - Rate of surprise

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