SRF Shares Price

About SRF Ltd

 

SRF Limited is a multi-business chemicals corporation that produces industrial and specialised intermediates. Fluorochemicals, speciality chemicals, packaging films, technical textiles, and coated and laminated fabrics are included in the company’s product line. It employs over 7,000 people across eleven production facilities in India and one each in Thailand, South Africa, and Hungary. The company exports to over ninety nations.

 

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SRF is India’s market leader in refrigerants, engineering polymers, and industrial yarns. Prior to 1990, it was known as Shriram Fibres. Its name was changed to its current form in 1990. Additionally, the company produces polyester films and fluorospecialties. SRF is also present in Dubai, South Africa, and Thailand, in addition to India. SRF is the second largest manufacturer of Nylon 6 tyre cord and belting textiles in the world. The company exports its goods to more than 60 nations.

 

Business sector

 

  • Chemical Business: This division is responsible for the fluorochemicals and fluorospecialties business lines. Two–thirds of the company’s refrigerant gas production is sent to international buyers.

 

  • Packaging Films Business: This sector produces PET films used in the packaging of food, cosmetics, personal care, and healthcare products.

 

  • Industrial Yarn Business: The company is a market leader and controls more than fifty per cent of the multifilament twine market in India, supplying major fishnet makers.

 

  • Engineering Plastics Enterprise: The company produces and sells Nylon 6 Engineering plastics under the brand names TUFNYL and TUFBET. These items serve numerous industries, including the automotive, electrical, telecom, engineering, electronic, and industrial sectors. SRF Chemicals Business won the prestigious Deming Prize in 2012.

 

Company History

 

SRF Limited is a chemical-based conglomerate specialising in producing industrial and specialised intermediates. The company’s core operations consist of producing, purchasing, and marketing technical textiles, chemicals, packaging films, and other polymers. Its wide portfolio of businesses includes Technical Textiles, Fluorochemicals, and Specialty Chemicals. Films for packaging and engineering plastics Twelve manufacturing facilities are located in India, two in Thailand and one in South Africa. Products are exported to more than 90 countries.

 

Shriram Fibres Limited (SRF) was incorporated on January 9, 1970, as SRF Limited (SRF). In 1974, the business inaugurated the Nylon Tyre Cord Fabric Plant in Manali, Chennai. In 1977 and 1979, Fishnet Twines and Nylon Engineering Plastics were developed at the same location. In 1983 and 1986, the business commissioned the Industrial Fabrics Plant and Coated Fabrics projects in Tiruchirapalli. In the same year, in 1986, SRF Finance Ltd. commenced operations. SRF began commercial manufacturing of fluorochemicals at Bhiwadi in 1989. In 1990, the company’s name was changed from Shriram Fibres Limited to its current name, SRF Limited. Already in 1993, the corporation used Total Quality Management (TQM) practices on a global scale. In 1995, SRF acquired the nylon tyre cord facility of Ceat in Gwalior and commenced chloromethane manufacturing in Bhiwadi. The first foreign presence was established in 1996 when an operation unit was established in Dubai. In 1997, the business sold SRF Finance Ltd. to GE Capital, and in 2000, it bought DuPont’s Tyre Cord Fabric conversion factory in Gummidipoondi, Chennai. In 2001, SRF became one of the world’s top 10 providers of nylon tyre cords and launched its e- procurement firm, SRF E-Biz. The Polyester Films, Fishnet Twines, and Engineering Plastics divisions of the Company were spun off as a separate company in 2002 under the name SRF Polymers Ltd. In 2003, the company’s Fluorochemicals Business in Bhiwadi was awarded the coveted OHSAS 18000 and SA 8000 certifications for practising environmental safety.

 

SRF unlocked the Packaging Film Plant in Indore and the Pharma Chemicals Business in Bhiwadi in 2004. In the same year (2004), the Deming Application Prize was granted to the Industrial Synthetics Business. In 2005, SRF became one of the top three makers of belting textiles worldwide. In April 2006, the company’s chemical business, jhiwana, commissioned and capitalised on the Captive Power Project. The company’s holographic film plant was inaugurated in December 2007 with an investment of roughly ten crore rupees. This plant’s output is utilised in premium packaging categories. In 2008, SRF bought two international enterprises, one in Thailand and another in South Africa. Thai Baroda Industries Limited (TBIL) is a manufacturer of tyre cords, while Industex Technical Textiles (Pty) Limited is a producer of belting fabrics. In 2012, SRF commissioned the Dahej Gujarat chemical complex. In January 2015, SRF bought the Dymel HFC 134a regulated medical pharmaceutical propellant business from DuPont in an effort to establish itself as a credible worldwide leader in the Fluorochemicals industry. On 1 April 2016, SRF stated that its Board of Directors had authorised an investment proposal for the establishment of a pilot plant for the production of HFO 1234yf, a refrigerant gas of the next generation. The ground-breaking endeavour will make SRF the first technology developer outside of the United States and Europe for the production of HFO 1234yf, which is anticipated to be increasingly utilised in automotive air-conditioning systems worldwide in the near future.

 

On August 8, 2016, the Board of Directors of SRF, in line with the company’s strategic objective to expand its chemicals business, accepted two distinct Capex plans totalling Rs 345 crore. One of the projects involves the construction of a Multi-Purpose Facility for specialised chemicals at an estimated cost of Rs. 180 crores, while the other involves the construction of a Chloromethane (CMS) plant at an estimated cost of Rs. The second project approved by the Board aims to increase SRF’s chloromethane capacity to 80,000 tonnes per year. On 2 November 2017, SRF Limited stated that it had signed an agreement to acquire the HFC-125 assets from a global leader in the manufacture, development, and distribution of fluoro products. Under the terms of the agreement, SRF would have exclusive ownership of the HFC-125 assets and technological know-how. The company intends to relocate the assets to India and establish the HFC-125 production facility at its Chemical Complex in Dahej, Gujarat. With this acquisition, the business could manufacture and commercialise all three major HFCs, including HFC 134a, HFC 32, and HFC 125, under its FLORON brand.

 

As of 31 March 2018, the Company had five wholly owned subsidiary companies, one of which was established in India, while the remaining four were registered outside India. Two are direct wholly-owned subsidiaries, while the remaining three are step-down wholly-owned subsidiaries. On 9 July 2018, SRF Limited announced the establishment of a second Bi-axially Oriented Polyethylene Terephthalate (BOPET) film line and a Resin factory in Thailand at an anticipated cost of $60 million. This new facility will be constructed by the company’s wholly-owned subsidiary, SRF Industries (Thailand) Limited, at the company’s existing production site in Rayong, Thailand, and is expected to be operational in close to two years. Once operational, the new line will be able to produce roughly 40,000 metric tonnes per year. With the addition of this capacity, the company will boost its presence in the thriving South East Asian area and expand its customer base into new geographies. As of 31 March 2019, the corporation had six wholly-owned subsidiary companies, of which one was incorporated in India, and the other five were established outside India. Two are direct wholly-owned subsidiaries, while the remaining four are step-down wholly-owned subsidiaries.

 

The World Health Organization declared COVID-19 a pandemic in March 2020. In response, the Government of India proclaimed a nationwide lockdown on March 25, 2020, which damaged the Company’s operations. In conformity with SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, the Company has issued 1764705 fully paid-up equity shares to Qualified Institutional Buyers during the year ended 31 March 2021. These shares were issued for a price per share of Rs. 4,250 and a total consideration of Rs. In accordance with the consent granted by the shareholders by postal ballot on October 6, 2021, the Board at its meeting on October 15, 2021, issued and assigned 236980820 Bonus Equity shares of Rs. 10 each in the proportion of 4:1 to the shareholders. As of March 31, 2022, the company had seven wholly-owned subsidiary firms, two of which were incorporated in India and the remaining five registered outside India.

 

Top Shareholder

 

Below is a list of the top shareholders of SRF Ltd as of June 2022.

 

Shareholder No of Shares Shares (%)
Kama Holdings Limited 15,02,45,000 50.69
Kotak Equity Opportunities Fund 1,21,59,774 4.10
SBI Equity Hybrid Fund 33,74,833 1.14
Amansa Holdings Private Ltd 1,10,92,663 3.74
Individual share capital up to Rs 2 Lacs 3,09,25,486 10.43

 

Top Management

 

Below is a list of top management SRF Ltd as of June 2022

 

Name Designation
Ashish Bharat Ram Chairman & Managing Director
Arun Bharat Ram Chairman Emeritus
Kartik Bharat Ram Joint Managing Director
Prashant Yadav President and CEO – Fluorochemicals Business & Technical Textile Business
Anurag Jain President & CEO – Specialty Chemicals Business & Chemicals Technology Group
Prashant Mehra President & CEO – Packaging Films Business, Coated & Laminated Fabrics Business
Rahul Jain President & CFO
Ajay Chowdhury President & CHRO
Sanjay Rao President & CIO

 

 

Highlights From SRF Ltd’s Latest Quarterly Results – Q1 FY 23

 

On July 21, 2022, SRF Limited, a chemical-based multi-business organisation engaged in producing industrial and speciality intermediates, released its quarterly results for the first quarter of the fiscal year 2023.

 

  • Comparing Q1FY22 to Q1FY23, the company’s consolidated revenue increased by 44%, from Rs.2,699 crore to Rs.3,895 crore.

 

  • Comparing Q1FY22 to Q1FY23, the company’s Earnings Before Interest and Tax (EBIT) grew 58%, from Rs.595 crore to Rs.938 crore.

 

  • Comparing Q1FY22 to Q1FY23, the company’s Profit after Tax (PAT) grew 54% from Rs.395 crores to Rs.608 crores.

 

Segment Revenue

 

  • During Q1FY23, the Chemicals Business saw a 55% rise in segment revenue, from Rs.1,114 crores to Rs.1,722 crores. During the quarter, the Fluorochemicals Business performed exceptionally well as a result of increased sales volumes in the refrigerants, pharma propellants, and blends segments, as well as improved sales realisations, particularly from export markets. In addition, the chloromethane section contributed substantially to the overall results. The Specialty Chemicals Business performed well due to the high demand for its signature products and derivatives. SRF’s company capital expenditure plans are robust because new products are gaining substantial momentum.

 

  • Comparing Q1FY22 to Q1FY23, the Packaging Films Business recorded a 44% rise in sector revenue, from Rs. 1,041 crores to Rs. 1,496 crores. Demand for BOPET and BOPP films slowed slightly throughout the quarter, negatively impacting total profits. However, our ‘Easy to Do Business With’ customer-centric strategy and increased sales of Value-Added Products (VAPs) contributed significantly to the overall performance.

 

  • During Q1FY23, the Technical Textiles Business showed a 16% growth in segment revenue, from Rs.493 crores to Rs.571 crores, compared to Q1FY22. With improved export volumes from the Nylon Tyre Cord and Belting Fabrics divisions, the business has performed in accordance with expectations. However, domestic demand for our product line remained subdued.

 

  • Comparing Q1FY22 to Q1FY23, the Other Businesses recorded a 97% rise in segment revenue, from Rs.54 crore to Rs.106 crore. In a challenging external context, the Coated and Laminated Fabrics Business performed exceptionally well.

 

Chairman and Managing Director Ashish Bharat Ram said, “It has been a stellar quarter for the Company. The outlook for our Chemicals Business remains strong, and we believe the investment intensity will increase in this segment. While our Packaging Films Business performed very well, we see strong headwinds for the Business with weak global demand and inventory losses in the short term.”

 

FAQ On SRF Ltd

 

  • What is SRF Ltd Share Price, and what are the returns for SRF Ltd?

 

SRF Ltd Share Price is INR 2,625  as of  21st September 2022. SRF Ltd has provided a return of approximately 753.85% in the past five years as of 21st September 2022.

 

  • What are the 52-week highs and lows of SRF Ltd?

 

As on 21st September 2022:

    • 52-wk high      Rs 2,865
    • 52-wk low       Rs 1,973

 

  • What are the key metrics to analyse SRF Share Price?

 

Key metrics to analyse any share price are: 52-week high, a 52-week low, 1-year return, 5-year return, etc.

 

  • Who are the peers of SRF Ltd?

 

Peers of SRF Ltd include Gujarat Fluorochemicals Ltd, Solar Industries India Ltd, Pidilite Industries Ltd etc.

 

  • What is the market cap of SRF Ltd?

 

The market cap of SRF Ltd is INR 77.86 thousand crores as of 21st September 2022.

 

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