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Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
SBI

SRF: Building a specialty chemicals business block by block

June 08, 2020 / 12:01 PM IST
SRF: Building a specialty chemicals business block by block

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Anubhav Sahu Moneycontrol research Highlights - Q4FY20 revenues dip though chemicals steady - Rs 1,300 crore capex in FY21 majorly for specialty chemicals - Keep an eye on leverage and weak discretionary consumption SRF’s (CMP: Rs 3,650, Market Cap: Rs 20,982 crore) operating performance, capital allocation and management commentary show that the company is on track in its plan to transform into a specialty chemical behemoth. The revenue guidance of 20 percent plus growth in specialty chemicals is a strong positive. However, after a strong rally post...

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