SRF in good space

about 2 months ago
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SRF, engaged in the manufacturing of industrial and specialty intermediates, has been among the top five gainers on the BSE since the opening bell today, rising over 7.5% to an intraday high at Rs.2274.45.

The stock is up on the back of its earnings for Q4Fy22 and more pertinently, the strong outlook given by the management in the earnings call.

The company, for Q4Fy22 posted a 20% (YoY) rise in consolidated net profit at Rs.606 crore on a 6% rise in net revenue at Rs.3549 crore.

EBITDA was up 7.5% at Rs.948 crore and margins rose marginally from 26.34% to 26.71%.

The Board also approved capital expenditure of Rs 115 crore for dedicated facilities to produce intermediates for Agrochemicals in the New Plant Structure at Dahej.

In the earnings call, the management guided for a 20% revenue growth in FY23 for the specialty chemicals business. In the fluorochemicals business, demand outlook for refrigerants and chloromethane segment is expected to remain strong.

2160.7 (-88.65)

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