SRF Share Price 14 May 2024
📉 Specialty chemicals company SRF Limited has reported weak quarterly results. However, experts have expressed a positive outlook on this share. SRF recorded a 24% decrease in quarterly profits in March 2024 on an annual basis. The profit of the company decreased by Rs 422 crore, which has been impacted by the weak demand for its chemical business. (SRF Limited segment)
📊 The company’s revenue from operations decreased by 5% annually to Rs 3,570 crore, compared to Rs 3,778 crore a year ago. SRF’s EBITDA increased by 25% to Rs 696 crore, compared to Rs 932 crore in the previous fiscal year. During the quarter, the EBITDA margin decreased to 19.5%, compared to 24.6% in the same quarter last year. The stock was trading at Rs 2,262, up by 1.59% on Tuesday.
📈 SRF Limited’s share price rose by 2.35% to Rs 2,345.90 on Friday. At the close of trading, the share closed at Rs 2,276.95, with a decrease in price. The share of SRF Limited has declined by 11% in the past year. Over the last five years, the stock has gained over 375%. In the last 10 years, it has seen a growth of over 2,900%. Prior to 2013, the stock price was less than Rs 50.
🔍 JM Financial recommends investors to buy the stock. The share could go up to Rs 2,795. Kotak Institutional Equities suggests buying the share with a target price of Rs 2,360. Motilal Oswal Financial Services has set a target of Rs 2,100 for investment in the shares.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
