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Buy SRF; target of Rs 2755: ICICI Direct

ICICI Direct is bullish on SRF has recommended buy rating on the stock with a target price of Rs 2755 in its research report dated May 11, 2022.

May 12, 2022 / 04:07 PM IST
 
 
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ICICI Direct's research report on SRF


Incorporated in 1970, SRF commenced operations with nylon cord tyres and, thereafter, diversified into refrigerant gases, speciality chemicals and packaging film, as a few examples over the years. • Chemical division forms 43% of the overall revenue followed by packaging film (39%), technical textile (15%) and others (3%) • The company exports to more than 90+ countries. The revenue from the international market constitutes 57% of the overall revenue while the rest is from the domestic market segment.


Outlook


We retain BUY rating on the back of good opportunity to play on the increasing share of fluoro chemicals across key industries. We value SRF on SOTP to arrive at a target price of Rs 2755/share (earlier Rs 3065/share).


For all recommendations report, click here

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first published: May 12, 2022 04:07 pm
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