SRFChemicals

SRF Limited

Commodity Chemicals · ISIN INE647A01010 · BSE 503806 · NSE EQ · FV ₹10
Last price
₹2,536
+2.25%today
What this company does

SRF Limited operates in Commodity Chemicals, part of the Chemicals sector. It booked ₹5,033 cr of revenue in its latest quarter (Q1 FY27) and kept 15.1% of sales as profit. It is the largest of 9 Commodity Chemicals companies we track, by market value.

The Company is primarily exposed to market risk (i.e. interest rate and foreign currency risk) and to credit risk and liquidity risk.
In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Chemicals, on all six measures of filed financials. Each measure is ranked against the 35–44 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
41

At close. Not part of the score.

Profitability & returns72

How much profit it earns on the money it employs

Balance sheet38

How much it owes, and whether earnings cover the interest

Cash quality72

Whether reported profit actually arrives as cash

Growth & consistency100

Whether sales and profit have grown, and how steadily · highest in its sector on what we could measure

Valuation44

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 15% net margin
Sales up 32% vs last year
Profit up 76% vs last year
Promoters hold 50%
No promoter shares pledged
Strong 22% return on equity
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in SRF?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹2,536 +2.25%
latest close · 2026-09-17
1-year return
+39.9%
52-wk low ₹1,77852-wk high ₹2,970
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio24.8Average
LowAverageHigh
P/B ratio5.35High
Below bookModerateHigh
EV / EBITDA15.7High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity21.6%Strong
WeakFairStrong ▸15%
Return on capital23.8%Strong
WeakFairStrong
Net margin15.1%Strong
ThinDecentStrong
EBITDA margin25.2%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.36Comfortable
LowModerateHigh ▸1
Interest cover15.3×Strong
RiskyOkayStrong ▸5×
Current ratio1.10Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹75,172 cr
Book value
₹474
EPS
₹25.60
latest quarter
Net debt
₹4,414 cr
owes more than its cash
Enterprise value
₹79,586 cr
EBITDA
₹5,083 cr
annualised
EBIT
₹4,191 cr
annualised
Operating margin
20.8%
Return on assets
12.6%
Earnings yield
4.04%
P/S
3.73
Sales / share
₹679.2
Tax rate
22.5%
Face value
₹10
Shares
29.6 cr
Working capital
₹675 cr
Current assets
₹7,198 cr
Current liabilities
₹6,523 cr
Delivery %
53.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹376₹552, midpoint ₹510

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹5,033 cr
Other Income₹34 cr
Total Income₹5,067 cr
Cost of Materials₹2,626 cr
Purchases of Stock-in-Trade₹39 cr
Inventory Change (±)₹-208 cr
Employee Benefit Expense₹319 cr
Finance Costs₹69 cr
Depreciation & Amortisation₹223 cr
Other Expenses₹1,021 cr
Total Expenses₹4,088 cr
Profit before Tax₹979 cr
Tax Expense₹220 cr
Net Profit₹759 cr
Net margin on total income15.0%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹2,457 cr48.5%
Employee benefit expense₹319 cr6.3%
Finance costs₹69 cr1.4%
Depreciation & amortisation₹223 cr4.4%
Other expenses₹1,021 cr20.1%
Tax expense₹220 cr4.3%
Profit for the period₹759 cr15.0%
Total income ₹5,067 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue3,713 cr4,615 cr5,033 cr
Total income3,740 cr4,640 cr5,067 cr
Expenses3,215 cr3,871 cr4,088 cr
Profit before tax452 cr757 cr979 cr
Tax19 cr175 cr220 cr
Net profit (owners' share)433 cr582 cr759 cr
Net margin (owners' share, on revenue)11.7%12.6%15.1%
EPS (₹)14.6019.6325.60
YoY (latest quarter): total income +31.7% · net profit +75.5%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹24,147 cr
Shareholder equity
₹14,043 cr
parent shareholders
Total debt
₹5,004 cr
Cash
₹590 cr
Cash flow · H1 FY26
Operating
₹1,061 cr
Investing
₹-557 cr
Financing
₹-649 cr
Peer comparison
Commodity Chemicals · by market value
CompanyPriceMarket capP/E
SRF Limitedthis company₹2,536₹75,172 cr24.8
Tata Chemicals Limited₹779₹69,788 cr
Deepak Fertilizers and Petrochemicals Corporation Limited₹1,325₹16,722 cr8.5
Gujarat Narmada Valley Fertilizers and Chemicals Limited₹585₹8,597 cr6.9
Gujarat Alkalies and Chemicals Limited₹674₹4,948 cr22.5
GHCL Limited₹420₹3,862 cr8.6
J.G.Chemicals Limited₹588₹2,305 cr23.0
Thirumalai Chemicals Limited₹156₹1,876 cr
IG Petrochemicals Limited₹555₹1,708 cr6.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.39%
trailing 12 months
Dividend / share (TTM)
₹10
Last dividend
₹5
ex 28 Jul 2026
ActionDetailEx-date
Dividend₹5 / share28 Jul 2026
Dividend₹5 / share27 Jan 2026
Dividend₹4 / share29 Jul 2025
Dividend₹3.6 / share4 Feb 2025
Dividend₹3.6 / share31 Jul 2024
Dividend₹3.6 / share7 Feb 2024
Who owns it · 2026-06-30
No pledge
Promoter
50.3%
FII / Foreign
15.4%
DII / Domestic
22.4%
Retail / others
11.8%
Promoter stake down 0.3% over the last 12 quarters.
Smart-money activity
Insider trades
SoldPuneet Yadu Dalmia · Director17,800 · ₹9.6 cr31 Mar 21
BoughtManish Mittal · Employees/Designated Employees250 · ₹13.5 L26 Feb 21
BoughtManish Mittal · Employees/Designated Employees100 · ₹5.5 L10 Feb 21
Bulk / block deals
short · NSE316 Sep 26
short · NSE1027 Aug 26
short · NSE21126 Aug 26
Stake changes
BoughtKotak Mahindra Mutual Fund→ 5.01% · 39,33130 Oct 25
SoldLife Insurance Corporation of India→ 2.96% · 60.46 L2 Jul 25
BoughtLife Insurance Corporation of india→ 25.83% · 93,50013 Dec 24
Promoter pledges
ReleasedKotak Mahindra Investment Limited2,200 · 0.00% held28 Mar 18
ReleasedKotak Mahindra Investment Limited9.17 L · 1.60% held9 Mar 18
PledgedKotak Mahindra Investments Ltd9.20 L · 0.00% held7 Dec 17
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 3 Jul 2025
See the official result
1
To receive, consider and adopt the standalone and consolidated audited financial statements of the Company for the financial year ended March 31, 2025 along with the Reports of the Auditors’ and Board of Directors’ thereon
Backed by 100% of shareholders other than promotersneeded 50%
9.75 cr votes for, 179 against · 0% of mutual funds and other big investors said no
2
To appoint a director in place of Mr. Ashish Bharat Ram (DIN 00671567), who retires by rotation and being eligible, offers himself for re-election.
Promoters had a personal stake in this
Backed by 88% of shareholders other than promotersneeded 50%
8.63 cr votes for, 1.12 cr against · 12% of mutual funds and other big investors said no
3
Re-Appointment of Mr. Ashish Bharat Ram (DIN 00671567) as Chairman and Managing Director
Promoters had a personal stake in this
Backed by 71% of shareholders other than promotersneeded 50%
6.94 cr votes for, 2.82 cr against · 29% of mutual funds and other big investors said no
4
Appointment of Ms. Sanjay Grover and Associates, Firm of Company Secretaries in Practice as Secretarial Auditors for a term of upto 5(Five) consecutive years
Backed by 100% of shareholders other than promotersneeded 50%
9.75 cr votes for, 6,210 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 33 named members
owning 50.3% between them · as of 2026-06-30
KAMA HOLDINGS LIMITED50.21%
ARUN BHARAT RAM0.03%
ASHISH BHARAT RAM0.01%
KARTIK BHARAT RAM0.01%
Ahaana Bharat Ramno shares
Apoorvi Bharat Ramno shares
Bharat Ram Associates Pvt Ltdno shares
KAI INDIA MENTAL HEALTH FORUMno shares
Business done with them
FY2026 · 6 of the group
The company paid ₹46 cr to companies in the promoter group last year — about 0.3% of its ₹15,787 cr revenue.
Mr. Ashish Bharat Ram
Other payments to them · As per text block data
also owns 0.01% of the company
₹23 cr
company paid
Mr. Kartik Bharat Ram
Other payments to them · As per text block data
also owns 0.01% of the company
₹23 cr
company paid
KAMA REALTY (DELHI) LIMITED
Leases As Lessee · As per text block data
₹7 cr
company received
Rose Farms (Delhi) LLP
Leases As Lessee · Please refer text block data
₹3 cr
company received
Mr. Arun Bharat Ram
Paid them for services · As per text block data
also owns 0.03% of the company
₹60 L
company paid
Mr. Arun Bharat Ram
Leases As Lessee · As per text block data
also owns 0.03% of the company
₹14 L
company received
Apoorvi Bharat Ram
Other payments to them · Please refer text block data
₹6 L
company paid

The company also transacted with 23 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.