Neutral SRF; target of Rs 2130: Motilal Oswal

Motilal Oswal recommended Neutral rating on SRF with a target price of Rs 2130 in its research report dated July 24, 2024.

Broker Research

July 25, 2024 / 19:14 IST

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Motilal Oswal's research report on SRF

SRF posted muted 1QFY25, with a material decline in operating profitability (EBIT down 20% YoY), due to the continuing weakness in the Chemical businesses (EBIT dipped 33% YoY), which offset the strong performance in the Packaging Film/Technical Textile businesses (EBIT grew 69%/12% YoY). We maintain our FY25/FY26 EBITDA estimates. We value the stock on an SoTP-basis to arrive at our TP of INR2,130. Reiterate NEUTRAL

Outlook

We maintain our FY25/FY26 EBITDA estimates. We value the stock on an SoTP basis to arrive at our TP of INR2,130. Reiterate NEUTRAL.

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SRF_25072024_Motilal Oswal

Broker Research

first published: Jul 25, 2024 07:14 pm

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