Sharekhan's research report on SRF
SRF has turned things around after a slew of weak quarters and reported strong results in Q3. The chemical business is expected to further improve in Q4 with good traction in specialty chemicals. Specialty chemicals will do well with the launch of 6-7 AIs (active ingredients). In fluorochemicals, there is going to be good demand and pricing environment for ref gas.
Outlook
We maintain a Buy on SRF with an unchanged PT of Rs. 3,350. The stock is currently trading at 40x/29.4x its FY26/27 EPS.
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