MarketFriction

SRF Ltd

NSE SRF · BSE 503806 · Commodity Chemicals
₹2,486.20 +0.55%
NSE close2026-10-01
52 week range2,355.00 - 3,210.00
Market cap₹71,738 Cr.
P/E32.0
Nifty 200Nifty 500Nifty Midcap 50Nifty Midcap 100Midcap 150Nifty Midcap SelectNifty Commodities No price band Delivery 61.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,1773,0533,5703,4643,4243,4914,3133,8193,6403,7134,6155,033
Expenses2,5512,4872,8742,8612,8862,8723,3562,9892,8662,9333,5893,797
Operating Profit6265666966035386209578307747801,0261,237
OPM %20%19%19%17%16%18%22%22%21%21%22%25%
Other Income291923253340342926-461334
Interest796790979496898071666269
Depreciation161169186188194194195203212217220223
Profit before tax415348443344284369707576517452757979
Tax %27%27%5%27%29%26%26%25%25%4%23%22%
Net Profit301253422252201271526432388433582759
EPS in Rs10.158.5514.248.516.799.1417.7514.5813.1014.6019.6325.60
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,5934,8225,5897,1007,2098,40012,43414,87013,13914,69315,78717,001
Expenses3,6303,8524,6835,8035,7546,2679,33011,34110,55411,97512,37713,185
Operating Profit9639699061,2971,4552,1333,1033,5292,5842,7183,4103,817
OPM %21%20%16%18%20%25%25%24%20%18%22%22%
Other Income2873115781526611675831332227
Interest130102124198201134116205302376278267
Depreciation275283316358389453517575673772852872
Profit before tax5856575828181,0181,6122,5862,8241,6921,7042,3022,705
Tax %27%22%21%22%-0%26%27%23%21%27%20%
Net Profit4305154626421,0191,1981,8892,1621,3361,2511,8352,162
EPS in Rs14.9717.9416.0822.3335.4640.4463.7272.9545.0642.2061.9172.93
Dividend Payout %14%14%15%11%8%12%26%10%16%17%15%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth13%13%2%13%
Compounded Profit Growth16%10%-4%57%
Stock Price CAGR21%2%2%-14%
Return on Equity17%16%12%14%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital58585858585860297297297297297
Reserves2,2382,7053,1243,5064,0714,8756,7968,26810,03011,18212,32913,745
Borrowings2,4352,5152,3963,1423,7304,1353,4693,6554,4785,0314,7265,083
Other Liabilities1,1521,1461,3891,6572,0281,7952,5863,5443,9313,9454,1694,971
Total Liabilities5,8836,4246,9688,3639,88810,86212,91115,76518,73620,45421,52124,097
Fixed Assets3,9224,1134,4055,1225,6096,3687,8278,42510,05013,24213,72013,926
CWIP1041172595597541,3937721,6722,4068058111,889
Investments94165196122101203417321494527827687
Other Assets1,7622,0292,1092,5613,4242,8993,8955,3475,7865,8816,1637,594
Total Assets5,8836,4246,9688,3639,88810,86212,91115,76518,73620,45421,52124,097
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5421,0906456788961,3041,7722,1062,9022,0942,4872,554
Cash from Investing Activity-500-667-613-1,174-1,039-1,179-1,499-1,586-2,964-2,231-1,482-1,589
Cash from Financing Activity-18-182-284495246-199-251-207220-72-1,071-708
Net Cash Flow24241-252-1103-7322312158-209-65256
Free Cash Flow585115-605-157-6956728950-1081,265747
CFO/OP87%125%79%88%81%99%95%81%97%96%104%90%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days494150445345555344545459
Inventory Days110105126115113119133129112127111131
Days Payable83112122126127110144126110120111121
Cash Conversion Cycle753454343854455546615569
Working Capital Days101-15-21-17-37-141-6-18-9-12
ROCE %11%14%14%11%14%14%18%24%22%13%12%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.53%50.53%50.31%50.26%50.26%50.26%50.26%50.26%50.26%50.26%50.26%50.26%
FIIs19.80%19.60%19.09%18.76%18.30%18.37%18.28%18.24%17.98%17.48%16.67%15.45%
DIIs14.12%14.51%15.97%16.57%17.76%17.78%18.42%18.85%19.53%20.18%21.17%22.44%
Government0.00%0.00%0.00%0.00%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%
Public15.57%15.36%14.66%14.44%13.66%13.55%13.01%12.61%12.20%12.05%11.87%11.81%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%
No. of Shareholders2,71,1702,59,4572,34,3212,26,9392,11,7492,11,6981,99,5481,92,6181,91,9911,81,2801,80,3411,77,423

Fundamentals

Market Cap₹ 71,738 Cr.
Current Price₹ 2,420
Stock P/E32.0
Book Value₹ 474
ROCE14.6 %
ROE14.3 %
Dividend Yield0.37 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)57%
Consolidated figures.
Valuation
Market capRs 73,951 Cr
Enterprise valueRs 78,423 Cr
P/E (TTM)34.21x
Price to book5.27x
Price to sales4.35x
EV / EBITDA20.40x
EV / EBIT26.39x
EV / sales4.61x
Price to cash flow28.96x
Earnings yield2.92%
Dividend yield0.36%
P/E, 3-year average55.47x
P/B, 3-year average6.24x
P/E, 5-year average48.36x
P/B, 5-year average6.99x
Profitability
Operating margin (excl. other income)21.60%
Operating margin (incl. other income)21.74%
EBITDA margin22.61%
Pre-tax margin15.91%
Net profit margin12.72%
Net margin, latest quarter15.08%
ROE13.76%
ROCE14.14%
ROA8.05%
ROE, 3-year average12.13%
ROCE, 3-year average13.06%
ROA, 3-year average6.94%
ROE, 5-year average16.76%
ROCE, 5-year average17.11%
ROA, 5-year average9.31%
ROIC (approx.)12.80%
Tax rate20.27%
Other income / net worth0.16%
Growth
Sales growth (latest year)7.44%
Profit growth (latest year)46.72%
Sales CAGR, 3 years2.01%
Sales CAGR, 5 years13.45%
Profit CAGR, 3 years-5.32%
Profit CAGR, 5 years8.91%
Sales growth QoQ9.06%
Profit growth QoQ30.39%
Sales growth YoY (latest quarter)31.81%
Profit growth YoY (latest quarter)75.53%
Per share
EPS (TTM)Rs 72.68
EPS (latest year)Rs 61.70
EPS (latest quarter)Rs 25.51
EPS, 3-year averageRs 49.55
EPS, 5-year averageRs 56.97
Book value per shareRs 472.11
Sales per shareRs 571.57
Cash flow per shareRs 85.85
Free cash flow per shareRs 25.11
Dividend per share (latest year)Rs 9.00
Dividend per share, 3-year averageRs 7.80
Dividend per share, 5-year averageRs 9.47
Dividends
Dividend payout14.59%
Dividend payout, 3-year average15.91%
Dividend payout, 5-year average16.80%
Efficiency
Asset turnover0.66x
Fixed asset turnover1.13x
Inventory turnover3.51x
Inventory days104 days
Debtor days59 days
Debtors turnover6.16x
Creditor days121 days
Cash conversion cycle69 days
Working capital days-12 days
Leverage
Total debtRs 5,083 Cr
Cash and bankRs 611 Cr
Net debtRs 4,472 Cr
Debt to equity0.36x
Net debt / EBITDA1.16x
Interest coverage11.14x
Current ratio (filing 2026-03-31)1.10x
Quick ratio (filing 2026-03-31)0.68x
Trade payables (filing 2026-03-31)Rs 2,585 Cr
Owners' fund to total sources58.28%
Debt to assets21.09%
Cash flow
Cash from Operating Activity (latest year)Rs 2,554 Cr
Cash from Investing Activity (latest year)Rs -1,589 Cr
Cash from Financing Activity (latest year)Rs -708 Cr
Net Cash Flow (latest year)Rs 256 Cr
Free cash flow (latest year)Rs 747 Cr
FCFE (approx.: FCF + change in debt)Rs 1,104 Cr
Cash from ops / profit, 5 years1.43x
Sales to cash flow6.18x
Statement figures
Net sales (TTM)Rs 17,001 Cr
Net sales (latest year)Rs 15,787 Cr
Sales (latest quarter)Rs 5,033 Cr
Operating profit excl. other income (latest year)Rs 3,410 Cr
Operating profit (latest quarter)Rs 1,237 Cr
Other income (TTM)Rs 27 Cr
EBITDA (TTM)Rs 3,843 Cr
PBDT (TTM)Rs 3,577 Cr
Profit before tax (TTM)Rs 2,705 Cr
Tax (latest year)Rs 466 Cr
Net profit (TTM)Rs 2,162 Cr
Net profit (latest year)Rs 1,835 Cr
Net profit (latest quarter)Rs 759 Cr
Depreciation (TTM)Rs 872 Cr
Depreciation (latest quarter)Rs 223 Cr
Interest (TTM)Rs 267 Cr
Cost of goods sold (latest year)Rs 9,785 Cr
Total expenditure (latest year)Rs 12,377 Cr
Total income (latest year)Rs 15,809 Cr
Share capitalRs 297 Cr
ReservesRs 13,745 Cr
Shareholders' fundsRs 14,043 Cr
Total assetsRs 24,097 Cr
Net blockRs 13,926 Cr
Capital work in progressRs 1,889 Cr
InvestmentsRs 687 Cr
ReceivablesRs 2,562 Cr
InventoryRs 2,789 Cr
Other liabilitiesRs 4,971 Cr
Shares outstanding (crore)29.74
Ownership
Promoter holding50.26% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 34.2 is at the 48th percentile of its own 9.4-year range (median 34.5, low 17.5, high 78.0).
P/B 5.27 is at the 34th percentile (median 6.32).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodSRFNifty 50Difference
1 week-1.9%-2.8% +0.9 pts
1 month-4.1%-6.8% +2.7 pts
3 months-11.0%-7.6% -3.4 pts
6 months+2.0%+0.4% +1.6 pts
1 year-13.6%-9.9% -3.7 pts
2 years+1.9%-13.6% +15.5 pts
3 years+10.5%+14.2% -3.6 pts
5 years+12.1%+27.9% -15.8 pts
181 mutual fund schemes hold about ₹12,711 Cr. Over three months 46 bought more and 39 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Flexi Cap Fund2.81%1,587 +3%
Kotak Flexi Cap Fund2.81%1,580 +3%
Kotak Mid Cap Fund1.46%1,039 -0%
SBI Midcap Fund2.19%538 +21%
SBI Midcap Fund2.19%534 +21%
Kotak Large & Mid Cap Fund1.39%448 +2%
Mirae Asset Large & Midcap Fund0.86%395 -4%
Invesco India Midcap Fund2.27%361 -9%
HDFC Large Cap Fund0.89%355 +3%
Axis Midcap Fund1.01%346 -7%
Aditya Birla SL Flexi Cap Fund1.19%346 +2%
Mirae Asset Midcap Fund1.28%268 -2%
DSP Large & Mid Cap Fund1.41%260 +142%
DSP Midcap Fund1.09%230 +47%
Kotak Multi Cap Fund0.76%223 -3%
Invesco India Large & Mid Cap Fund1.65%194 -5%
Axis Large & Mid Cap Fund0.99%172 +43%
Axis Large & Mid Cap Fund0.99%167 +43%
Kotak Arbitrage Fund(M0.22%164 +3368%
HDFC Large & Mid Cap Fund0.52%159 +2%
PGIM India Midcap Fund1.41%159 +3%
UTI Mid Cap Fund1.20%154 -4%
ICICI Pru Multi Cap Fund0.76%148 -2%
ICICI Pru Multi Cap Fund0.76%142 -2%
ICICI Pru Mid Cap Fund1.56%131 -2%

Red flags

F-score 7 of 8
lookRegulator order or action Regulator order or action 2026-04-21: SRF Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-24Kama holdings LtdPromoter groupsell195,000SAST Inter-se transfer
2026-09-23Kama holdings LtdPromoter groupsell1,010,000SAST Inter-se transfer
2026-09-23KAMA Realty (Delhi) LtdPromoter groupbuy1,010,000SAST Inter-se transfer
2026-09-21Kama holdings LtdPromoter groupsell995,000SAST Inter-se transfer
2026-09-21Kama realty ( Delhi) LtdPromoter groupbuy995,000SAST Inter-se transfer
2026-09-18Kama realty ( Delhi) LtdPromoter groupbuy1,000,000SAST Inter-se transfer
2026-09-18Kama holdings LtdPromoter groupsell1,000,000SAST Inter-se transfer
2021-03-31Puneet Yadu DalmiaDirectorsell17,800Rs 9.55 CrMarket Sale
2021-02-26Manish MittalEmployees/Designated Employebuy250Rs 0.13 CrMarket Purchase
2021-02-10Manish MittalEmployees/Designated Employebuy100Rs 0.06 CrMarket Purchase
2021-01-28Manish MittalEmployees/Designated Employebuy700Rs 0.38 CrMarket Purchase
2020-11-12Yash GuptaDirectorbuy200Rs 0.10 CrMarket Purchase
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹5,033 Cr +31.8% vs Jun 2025. Net profit ₹759 Cr +75.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-28Interim Dividend - Rs 5 Per Share
2026-01-27Interim Dividend - Rs 5 Per Share
2025-07-29Interim Dividend - Rs 4 Per Sh
2025-02-04Interim Dividend - Rs 3.6 Per Sh
2024-07-31Interim Dividend - Rs 3.60 Per Share
2024-02-07Interim Dividend - Rs 3.60 Per Share
2023-08-01Interim Dividend - Rs 3.60 Per Share
2023-02-07Interim Dividend - Rs 3.60 Per Share
2022-07-28Interim Dividend- Rs 3.60 Per Share
2022-02-03Interim Dividend - Rs 4.75 Per Share
2021-10-13 Bonus 4:10.2000
2021-08-05 Interim Dividend - Rs 12 Per Share
2021-01-29 Interim Dividend - Rs 19 Per Share
2020-08-06 Interim Dividend - Rs 5 Per Share
2020-02-10 Interim Dividend - Rs 7 Per Share
2019-08-13 Interim Dividend - Rs 7 Per Share
2019-07-26 Annual General Meeting
2019-02-11 Interim Dividend - Rs 6 Per Share
2018-08-14 Interim Dividend- Rs 6 Per Share (Purpose Revised)
2018-07-30 Annual General Meeting
2018-02-15 Interim Dividend Rs 6/- Per Share (Purpose Revised)
2017-08-16 Interim Dividend - Rs 6/- Per Share
2017-08-16 Interim Dividend
2017-07-28 Annual General Meeting
2017-02-17 Interim Dividend Rs 6/- Per Share (Purpose Revised)
2016-08-16 Interim Dividend Rs.6/- Per Share (Purpose Revised)
2016-07-28 Annual General Meeting
2016-02-15 Interim Dividend Rs 5/- Per Share (Purpose Revised)
2015-08-28 Interim Dividend - Rs 5/- Per Share
2015-07-29Annual General Meeting
2015-02-13Second Interim Dividend Rs 5/- Per Share (Purpose Revised)
2014-08-27Interim Dividend Rs 5/- Per Share
2014-07-24Annual General Meeting
2014-02-14Ii Interim Dividend Rs.7/- Per Share (Purpose Revised)
2013-11-07Interim Dividend - Rs 3/- Per Share
2013-07-17Annual General Meeting
2013-02-25Interim Dividend Rs 5 Per Share
2012-11-15Interim Dividend Rs 5 Per Share
2012-07-16Annual General Meeting
2012-02-23Interim Dividend Rs.7/- Per Share
2011-11-22Interim Dividend Rs.7/- Per Share
2011-07-13Annual General Meeting
2011-03-04Interim Dividend Rs 7 Per Share (Purpose Revised)
2010-11-02Interim Dividend-Rs.7/- Per Share (Purpose Revised)
2010-06-30Annual General Meeting
2010-04-082nd Int Div-Rs.7/- Pr Shr
2009-11-12Int Div-Rs.7/- Per Share
2009-07-03Annual General Meeting
2009-03-312nd Interim Dividend-50% Purpose Revised
2008-10-31Interim Dividend - 50% Purpose Revised
2008-06-27Agm/Dividend - 20%
2008-03-18Interim Dividend - 30% Purpose Revised
2007-06-29Agm/Dividend - 20%
2007-03-22Interim Dividend-40% Purpose Revised
2006-07-07Agm/Dividend-30% Book Closure Revised
DateTypeWhat it says
2026-10-01LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-09-24Disclosure under SEBI TakeovKAMA Realty (Delhi) Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acqu...
2026-09-23ResignationResignation of Ms. Geeta Shamrao Jadhav as President & CHRO of the company w.e.f. September 23, 2026.
2026-09-15Disclosure under SEBI TakeovKAMA Realty (Delhi) Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (...
2026-07-29Concall / analyst meetTranscript
2026-07-27LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-23UpdatesTax Deducted at Source (TDS) on Dividend.
2026-07-23Concall / analyst meetLink of Recording
2026-07-22Investor PresentationInvestor Presentation
2026-07-22Record DateRecord date for the purpose of Dividend is 28-Jul-2026.
2026-07-22Press ReleaseA press release dated July 22, 2026, titled "Press Release".
2026-07-22Capacity additionCapacity addition
2026-07-22DividendBoard of Directors at its meeting held on July 22, 2026, declared Interim Dividend of Rs. 5 per equity share.
2026-07-22Board meeting outcomeSRF Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-17Concall / analyst meetSchedule of meet
2026-06-30AppointmentAppointment of Mr. Pramod Gopaldas Gujarathi as Director (Safety & Environment) & Occupier of the company w.e.f. April 01, 2026.
2026-06-30AppointmentAppointment of Mr. Kartik Bharat Ram as Joint Managing Director of the company w.e.f. Jun 01, 2026.
2026-06-30Shareholder meetingProceedings of Annual General Meeting held on Jun 30, 2026
2026-06-30Shareholder meetingVoting results.
2026-06-06UpdatesShareholder letter.
2026-06-06Shareholder meetingNotice of Annual General Meeting to be held on Jun 30, 2026
2026-05-18Disclosure under SEBI TakeovKAMA Holdings Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substan...
2026-05-15Capacity additionCapacity addition
2026-05-12Concall / analyst meetTranscript
2026-05-06Concall / analyst meetLink of Recording
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest1.04
Max pain (expiry 2026-10-27)2,500
Largest call open interest at2,500
Largest put open interest at2,500
Implied volatility, at the money24.0%
Underlying at snapshot2,486.20
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30957
2026-09-291
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-02-17CESTATSRF LTD ---VS.--- LTU DELHI
2020-01-24CESTATSRF LTD (CHEMICAL BUSINESS) ---VS.--- LTU DELHI
2019-11-28CESTATSRF LTD ---VS.--- LTU DELHI
2019-11-28CESTATSRF LTD (CHEMICAL BUSINESS) ---VS.--- LTU DELHI
2019-11-11CESTATSRF LIMITED ---VS.--- LTU DELHI
2019-10-22CESTATSRF LTD ---VS.--- LTU DELHI
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of SRF Ltd?

SRF Ltd (SRF) has a market capitalisation of Rs 71,738 Cr. at the 2026-10-01 close.

What is the P/E ratio of SRF Ltd?

SRF Ltd trades at a P/E of 32.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were SRF Ltd's latest quarterly results?

In the Jun 2026 quarter, SRF Ltd sales was Rs 5,033 Cr (+31.8% vs Jun 2025) and net profit was Rs 759 Cr.

What is the 52-week high and low of SRF Ltd?

The 52-week high is Rs 3,210.00 and the 52-week low is Rs 2,355.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03