Neutral SRF; target of Rs 2000: Motilal Oswal

Motilal Oswal recommended Neutral rating on SRF with a target price of Rs 2000 in its research report dated October 30, 2023.

Broker Research

November 02, 2023 / 15:58 IST

Neutral

Motilal Oswal's research report on SRF

SRF reported subdued operating performance for the second consecutive quarter in 2QFY24 (EBIT declined 27% YoY), led by continuing weakness in Chemical/Packaging Film business (EBIT dipped 33%/24% YoY), offsetting recovery in the Technical textile business (EBIT up 19% YoY).

Outlook

We maintain our FY24/FY25 EBITDA estimates and value the stock at SoTPbased TP of INR2,000. We reiterate our NEUTRAL rating on the stock.

For all recommendations report, click here

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SRF - 31 - 10-2023 - moti

Broker Research

first published: Nov 2, 2023 01:48 pm

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