SRF Ltd.
•2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Chemicals & Polymers Business (CPB): 62.2% • Packaging Films Business (PFB): 19.7% • Technical Textiles Business (TTB): 15.1% • Others: 2.9%
PROS
- Latest quarter profit grew 42.6% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.49x)
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (11.6x coverage)
- Stock looks reasonably valued - P/E of 41.9 is below its historical median
- Company generates healthy free cash flow
CONS
- Stock is trading at 5.7x its book value
- Operating margins have contracted to 23.8% from 26.9%
- Growth is decelerating - 3Y profit CAGR (-5.2%) trails the 5Y trend (13.3%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SOLARINDS | 19800.00 | 89.97 | 179170.31 | 0.06 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| 2. | PIDILITIND | 1650.00 | 63.40 | 167935.41 | 1.30 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| 3. | SRF | 2575.00 | 35.31 | 76329.39 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| 4. | FLUOROCHEM | 4679.55 | 83.59 | 51404.86 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 10.02 | 26.83 |
| 5. | NAVINFLUOR | 8281.50 | 53.80 | 42484.11 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| 6. | GODREJIND | 1217.10 | 34.87 | 40998.14 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| 7. | DEEPAKNTR | 1767.85 | 30.78 | 24112.24 | 0.42 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| 8. | AETHER | 1639.40 | 92.52 | 21759.40 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| 9. | ATUL | 6581.75 | 24.36 | 19377.83 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| 10. | AARTIIND | 526.90 | 35.99 | 19112.07 | 0.19 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.39 | 16.00 |
| 11. | DEEPAKFERT | 1474.65 | 18.98 | 18678.34 | 0.68 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| 12. | BASF | 3928.85 | 26.45 | 17006.28 | 0.64 | 360.29 | 162.22 | 4824.26 | 24.57 | 15.23 | 10.46 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,727 | 2,533 | 2,449 | 2,858 | 2,677 | 2,616 | 2,682 | 3,403 | 2,966 | 2,751 | 2,856 | 3,499 | 3,802 | |
| 2,122 | 2,013 | 1,989 | 2,272 | 2,204 | 2,213 | 2,204 | 2,620 | 2,321 | 2,178 | 2,208 | 2,695 | 3,082 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 21 | 38 | 28 | 33 | 35 | 44 | 53 | 44 | 40 | 30 | 33 | 31 | 39 |
| Interest | 52 | 63 | 52 | 68 | 76 | 72 | 76 | 73 | 60 | 52 | 48 | 44 | 50 |
| Depreciation | 129 | 133 | 141 | 153 | 155 | 158 | 159 | 158 | 166 | 170 | 176 | 177 | 178 |
| 491 | 416 | 352 | 459 | 336 | 303 | 375 | 689 | 533 | 483 | 480 | 678 | 760 | |
| Tax % | 25.59% | 25.75% | 25.34% | 4.78% | 25.68% | 25.79% | 25.44% | 25.56% | 25.51% | 24.85% | 4.55% | 25.23% | 25.45% |
| Net Profit | 365 | 309 | 263 | 437 | 250 | 225 | 280 | 513 | 397 | 363 | 458 | 507 | 566 |
| 12 | 10 | 9 | 15 | 8 | 8 | 9 | 17 | 13 | 12 | 15 | 17 | 2 | |
| Equity Capital | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 |
| Reserves | 9,395 | 9,567 | 9,843 | 10,216 | 10,504 | 10,599 | 10,792 | 11,271 | 11,660 | 11,737 | 12,178 | 12,383 | 13,058 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 |
| Reserves | 9,395 | 9,567 | 9,843 | 10,216 | 10,504 | 10,599 | 10,792 | 11,271 | 11,660 | 11,737 | 12,178 | 12,383 | 13,058 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 2,727
- 2,122
- Operating Profit
- —
- OPM %
- —
- Other Income
- 21
- Interest
- 52
- Depreciation
- 129
- 491
- Tax %
- 25.59%
- Net Profit
- 365
- 12
- Equity Capital
- 296
- Reserves
- 9,395
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 9,395
- Promoter Pledge %
- 0.00%
- 2,533
- 2,013
- Operating Profit
- —
- OPM %
- —
- Other Income
- 38
- Interest
- 63
- Depreciation
- 133
- 416
- Tax %
- 25.75%
- Net Profit
- 309
- 10
- Equity Capital
- 296
- Reserves
- 9,567
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 9,567
- Promoter Pledge %
- 0.00%
- 2,449
- 1,989
- Operating Profit
- —
- OPM %
- —
- Other Income
- 28
- Interest
- 52
- Depreciation
- 141
- 352
- Tax %
- 25.34%
- Net Profit
- 263
- 9
- Equity Capital
- 296
- Reserves
- 9,843
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 9,843
- Promoter Pledge %
- 0.00%
- 2,858
- 2,272
- Operating Profit
- —
- OPM %
- —
- Other Income
- 33
- Interest
- 68
- Depreciation
- 153
- 459
- Tax %
- 4.78%
- Net Profit
- 437
- 15
- Equity Capital
- 296
- Reserves
- 10,216
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 10,216
- Promoter Pledge %
- 0.00%
- 2,677
- 2,204
- Operating Profit
- —
- OPM %
- —
- Other Income
- 35
- Interest
- 76
- Depreciation
- 155
- 336
- Tax %
- 25.68%
- Net Profit
- 250
- 8
- Equity Capital
- 296
- Reserves
- 10,504
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 10,504
- Promoter Pledge %
- 0.00%
- 2,616
- 2,213
- Operating Profit
- —
- OPM %
- —
- Other Income
- 44
- Interest
- 72
- Depreciation
- 158
- 303
- Tax %
- 25.79%
- Net Profit
- 225
- 8
- Equity Capital
- 296
- Reserves
- 10,599
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 10,599
- Promoter Pledge %
- 0.00%
- 2,682
- 2,204
- Operating Profit
- —
- OPM %
- —
- Other Income
- 53
- Interest
- 76
- Depreciation
- 159
- 375
- Tax %
- 25.44%
- Net Profit
- 280
- 9
- Equity Capital
- 296
- Reserves
- 10,792
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 10,792
- Promoter Pledge %
- 0.00%
- 3,403
- 2,620
- Operating Profit
- —
- OPM %
- —
- Other Income
- 44
- Interest
- 73
- Depreciation
- 158
- 689
- Tax %
- 25.56%
- Net Profit
- 513
- 17
- Equity Capital
- 296
- Reserves
- 11,271
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,271
- Promoter Pledge %
- 0.00%
- 2,966
- 2,321
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 60
- Depreciation
- 166
- 533
- Tax %
- 25.51%
- Net Profit
- 397
- 13
- Equity Capital
- 296
- Reserves
- 11,660
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,660
- Promoter Pledge %
- 0.00%
- 2,751
- 2,178
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 52
- Depreciation
- 170
- 483
- Tax %
- 24.85%
- Net Profit
- 363
- 12
- Equity Capital
- 296
- Reserves
- 11,737
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,737
- Promoter Pledge %
- 0.00%
- 2,856
- 2,208
- Operating Profit
- —
- OPM %
- —
- Other Income
- 33
- Interest
- 48
- Depreciation
- 176
- 480
- Tax %
- 4.55%
- Net Profit
- 458
- 15
- Equity Capital
- 296
- Reserves
- 12,178
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 12,178
- Promoter Pledge %
- 0.00%
- 3,499
- 2,695
- Operating Profit
- —
- OPM %
- —
- Other Income
- 31
- Interest
- 44
- Depreciation
- 177
- 678
- Tax %
- 25.23%
- Net Profit
- 507
- 17
- Equity Capital
- 296
- Reserves
- 12,383
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 12,383
- Promoter Pledge %
- 0.00%
- 3,802
- 3,082
- Operating Profit
- —
- OPM %
- —
- Other Income
- 39
- Interest
- 50
- Depreciation
- 178
- 760
- Tax %
- 25.45%
- Net Profit
- 566
- 2
- Equity Capital
- 296
- Reserves
- 13,058
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 13,058
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,883 | 4,582 | 6,206 | 6,331 | 6,988 | 9,953 | 12,074 | 10,787 | 11,698 | 12,421 | 12,908 | |
| 3,062 | 3,797 | 5,080 | 5,068 | 5,247 | 7,420 | 8,880 | 8,397 | 9,242 | 9,397 | 10,163 | |
| Operating Profit | 868 | 889 | 1,168 | 1,316 | 1,805 | 2,669 | 3,300 | 2,509 | 2,631 | 3,152 | — |
| OPM % | 22 | 19 | 19 | 21 | 26 | 27 | 27 | 23 | 22 | 25 | — |
| Other Income | 46 | 104 | 42 | 53 | 63 | 135 | 106 | 119 | 175 | 129 | 133 |
| Interest | 78 | 98 | 174 | 182 | 111 | 94 | 176 | 236 | 296 | 206 | 195 |
| Depreciation | 242 | 278 | 325 | 353 | 384 | 419 | 468 | 556 | 630 | 689 | 701 |
| 548 | 513 | 669 | 780 | 1,310 | 2,155 | 2,656 | 1,718 | 1,704 | 2,173 | 2,400 | |
| Tax % | 24 | 21 | 25 | -2 | 29 | 30 | 24 | 20 | 26 | 21 | 21 |
| Net Profit | 419 | 406 | 502 | 794 | 925 | 1,507 | 2,023 | 1,374 | 1,268 | 1,725 | 1,894 |
| EPS | 73 | 71 | 90 | 169 | 31 | 51 | 68 | 46 | 43 | 58 | — |
| Dividend Payout % | 16 | 17 | 14 | 10 | 15 | 33 | 11 | 16 | 17 | 15 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 15 | 14 | 17 | 28 | 31 | 51 | 68 | 46 | 43 | 58 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 15 | 14 | 17 | 28 | 31 | 51 | 68 | 46 | 43 | 58 | — |
- 3,883
- 3,062
- Operating Profit
- 868
- OPM %
- 22
- Other Income
- 46
- Interest
- 78
- Depreciation
- 242
- 548
- Tax %
- 24
- Net Profit
- 419
- EPS
- 73
- Dividend Payout %
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 15
- 4,582
- 3,797
- Operating Profit
- 889
- OPM %
- 19
- Other Income
- 104
- Interest
- 98
- Depreciation
- 278
- 513
- Tax %
- 21
- Net Profit
- 406
- EPS
- 71
- Dividend Payout %
- 17
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 14
- 6,206
- 5,080
- Operating Profit
- 1,168
- OPM %
- 19
- Other Income
- 42
- Interest
- 174
- Depreciation
- 325
- 669
- Tax %
- 25
- Net Profit
- 502
- EPS
- 90
- Dividend Payout %
- 14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 17
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 17
- 6,331
- 5,068
- Operating Profit
- 1,316
- OPM %
- 21
- Other Income
- 53
- Interest
- 182
- Depreciation
- 353
- 780
- Tax %
- -2
- Net Profit
- 794
- EPS
- 169
- Dividend Payout %
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 28
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 28
- 6,988
- 5,247
- Operating Profit
- 1,805
- OPM %
- 26
- Other Income
- 63
- Interest
- 111
- Depreciation
- 384
- 1,310
- Tax %
- 29
- Net Profit
- 925
- EPS
- 31
- Dividend Payout %
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 31
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 31
- 9,953
- 7,420
- Operating Profit
- 2,669
- OPM %
- 27
- Other Income
- 135
- Interest
- 94
- Depreciation
- 419
- 2,155
- Tax %
- 30
- Net Profit
- 1,507
- EPS
- 51
- Dividend Payout %
- 33
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 51
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 51
- 12,074
- 8,880
- Operating Profit
- 3,300
- OPM %
- 27
- Other Income
- 106
- Interest
- 176
- Depreciation
- 468
- 2,656
- Tax %
- 24
- Net Profit
- 2,023
- EPS
- 68
- Dividend Payout %
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 68
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 68
- 10,787
- 8,397
- Operating Profit
- 2,509
- OPM %
- 23
- Other Income
- 119
- Interest
- 236
- Depreciation
- 556
- 1,718
- Tax %
- 20
- Net Profit
- 1,374
- EPS
- 46
- Dividend Payout %
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 46
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 46
- 11,698
- 9,242
- Operating Profit
- 2,631
- OPM %
- 22
- Other Income
- 175
- Interest
- 296
- Depreciation
- 630
- 1,704
- Tax %
- 26
- Net Profit
- 1,268
- EPS
- 43
- Dividend Payout %
- 17
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 43
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 43
- 12,421
- 9,397
- Operating Profit
- 3,152
- OPM %
- 25
- Other Income
- 129
- Interest
- 206
- Depreciation
- 689
- 2,173
- Tax %
- 21
- Net Profit
- 1,725
- EPS
- 58
- Dividend Payout %
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 58
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 58
- 12,908
- 10,163
- Operating Profit
- —
- OPM %
- —
- Other Income
- 133
- Interest
- 195
- Depreciation
- 701
- 2,400
- Tax %
- 21
- Net Profit
- 1,894
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 12%
- 3 Years:
- 1%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 17%
- 5 Years:
- 13%
- 3 Years:
- -5%
STOCK PRICE CAGR
- 10 Years:
- 23%
- 5 Years:
- 8%
- 3 Years:
- 4%
- 1 Year:
- -12%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 17%
- 3 Years:
- 13%
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 57 | 57 | 57 | 57 | 59 | 296 | 296 | 296 | 296 | 296 |
| 3,086 | 3,391 | 3,860 | 4,624 | 6,232 | 7,324 | 8,944 | 10,196 | 11,243 | 12,347 | |
| 698 | 979 | 1,408 | 1,547 | 1,153 | 1,585 | 1,313 | 1,043 | 1,141 | 1,233 | |
| Trade Payables | 645 | 805 | 1,092 | 957 | 1,196 | 1,340 | 1,649 | 1,568 | 1,570 | 1,654 |
| 1,480 | 2,042 | 2,255 | 1,633 | 2,070 | 2,392 | 3,349 | 4,262 | 3,780 | 4,308 | |
| Total Liabilities | 5,968 | 7,274 | 8,672 | 8,820 | 10,711 | 12,938 | 15,551 | 17,365 | 18,030 | 19,838 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 3,617 | 4,342 | 4,846 | 5,648 | 5,896 | 6,114 | 7,674 | 10,439 | 10,809 | 10,702 | |
| Capital Work in Progress | 265 | 557 | 692 | 346 | 436 | 1,617 | 2,129 | 745 | 702 | 1,744 |
| 279 | 205 | 184 | 286 | 500 | 410 | 583 | 1,035 | 1,487 | 1,350 | |
| 727 | 828 | 1,099 | 1,110 | 1,287 | 1,751 | 1,849 | 1,901 | 1,805 | 2,124 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,538 | 1,765 | 1,948 | |
| Cash & Bank | 56 | 77 | 172 | 107 | 230 | 329 | 536 | 370 | 329 | 506 |
| 1,022 | 1,264 | 1,679 | 1,322 | 2,362 | 2,718 | 2,781 | 1,337 | 1,133 | 1,465 | |
| Total Assets | 5,968 | 7,274 | 8,672 | 8,820 | 10,711 | 12,938 | 15,551 | 17,365 | 18,030 | 19,838 |
| Total Debt | 1,658 | 2,483 | 3,103 | 2,664 | 2,575 | 2,775 | 3,039 | 3,612 | 3,253 | 3,313 |
| Net Working Capital | 205 | 13 | 74 | -148 | 1,093 | 1,115 | 1,519 | 948 | 1,524 | 1,384 |
| Contingent Liabilities | 376 | 148 | 127 | 84 | 79 | 79 | 281 | 292 | 466 | 235 |
| Book Value per Share | 547.51 | 600.60 | 681.46 | 814.49 | 1062.07 | 257.09 | 311.75 | 353.97 | 389.30 | 426.53 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 1,658 | 2,483 | 3,103 | 2,664 | 2,575 | 2,775 | 3,039 | 3,612 | 3,253 | 3,313 |
| Net Working Capital | 205 | 13 | 74 | -148 | 1,093 | 1,115 | 1,519 | 948 | 1,524 | 1,384 |
| Contingent Liabilities | 376 | 148 | 127 | 84 | 79 | 79 | 281 | 292 | 466 | 235 |
| Book Value per Share | 547.51 | 600.60 | 681.46 | 814.49 | 1062.07 | 257.09 | 311.75 | 353.97 | 389.30 | 426.53 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
- Equity Capital
- 57
- 3,086
- 698
- Trade Payables
- 645
- 1,480
- Total Liabilities
- 5,968
- 3,617
- Capital Work in Progress
- 265
- 279
- 727
- 0
- Cash & Bank
- 56
- 1,022
- Total Assets
- 5,968
- Total Debt
- 1,658
- Net Working Capital
- 205
- Contingent Liabilities
- 376
- Book Value per Share
- 547.51
- Face Value
- 10.00
- Total Debt
- 1,658
- Net Working Capital
- 205
- Contingent Liabilities
- 376
- Book Value per Share
- 547.51
- Face Value
- 10.00
- Equity Capital
- 57
- 3,391
- 979
- Trade Payables
- 805
- 2,042
- Total Liabilities
- 7,274
- 4,342
- Capital Work in Progress
- 557
- 205
- 828
- 0
- Cash & Bank
- 77
- 1,264
- Total Assets
- 7,274
- Total Debt
- 2,483
- Net Working Capital
- 13
- Contingent Liabilities
- 148
- Book Value per Share
- 600.60
- Face Value
- 10.00
- Total Debt
- 2,483
- Net Working Capital
- 13
- Contingent Liabilities
- 148
- Book Value per Share
- 600.60
- Face Value
- 10.00
- Equity Capital
- 57
- 3,860
- 1,408
- Trade Payables
- 1,092
- 2,255
- Total Liabilities
- 8,672
- 4,846
- Capital Work in Progress
- 692
- 184
- 1,099
- 0
- Cash & Bank
- 172
- 1,679
- Total Assets
- 8,672
- Total Debt
- 3,103
- Net Working Capital
- 74
- Contingent Liabilities
- 127
- Book Value per Share
- 681.46
- Face Value
- 10.00
- Total Debt
- 3,103
- Net Working Capital
- 74
- Contingent Liabilities
- 127
- Book Value per Share
- 681.46
- Face Value
- 10.00
- Equity Capital
- 57
- 4,624
- 1,547
- Trade Payables
- 957
- 1,633
- Total Liabilities
- 8,820
- 5,648
- Capital Work in Progress
- 346
- 286
- 1,110
- 0
- Cash & Bank
- 107
- 1,322
- Total Assets
- 8,820
- Total Debt
- 2,664
- Net Working Capital
- -148
- Contingent Liabilities
- 84
- Book Value per Share
- 814.49
- Face Value
- 10.00
- Total Debt
- 2,664
- Net Working Capital
- -148
- Contingent Liabilities
- 84
- Book Value per Share
- 814.49
- Face Value
- 10.00
- Equity Capital
- 59
- 6,232
- 1,153
- Trade Payables
- 1,196
- 2,070
- Total Liabilities
- 10,711
- 5,896
- Capital Work in Progress
- 436
- 500
- 1,287
- 0
- Cash & Bank
- 230
- 2,362
- Total Assets
- 10,711
- Total Debt
- 2,575
- Net Working Capital
- 1,093
- Contingent Liabilities
- 79
- Book Value per Share
- 1062.07
- Face Value
- 10.00
- Total Debt
- 2,575
- Net Working Capital
- 1,093
- Contingent Liabilities
- 79
- Book Value per Share
- 1062.07
- Face Value
- 10.00
- Equity Capital
- 296
- 7,324
- 1,585
- Trade Payables
- 1,340
- 2,392
- Total Liabilities
- 12,938
- 6,114
- Capital Work in Progress
- 1,617
- 410
- 1,751
- 0
- Cash & Bank
- 329
- 2,718
- Total Assets
- 12,938
- Total Debt
- 2,775
- Net Working Capital
- 1,115
- Contingent Liabilities
- 79
- Book Value per Share
- 257.09
- Face Value
- 10.00
- Total Debt
- 2,775
- Net Working Capital
- 1,115
- Contingent Liabilities
- 79
- Book Value per Share
- 257.09
- Face Value
- 10.00
- Equity Capital
- 296
- 8,944
- 1,313
- Trade Payables
- 1,649
- 3,349
- Total Liabilities
- 15,551
- 7,674
- Capital Work in Progress
- 2,129
- 583
- 1,849
- 0
- Cash & Bank
- 536
- 2,781
- Total Assets
- 15,551
- Total Debt
- 3,039
- Net Working Capital
- 1,519
- Contingent Liabilities
- 281
- Book Value per Share
- 311.75
- Face Value
- 10.00
- Total Debt
- 3,039
- Net Working Capital
- 1,519
- Contingent Liabilities
- 281
- Book Value per Share
- 311.75
- Face Value
- 10.00
- Equity Capital
- 296
- 10,196
- 1,043
- Trade Payables
- 1,568
- 4,262
- Total Liabilities
- 17,365
- 10,439
- Capital Work in Progress
- 745
- 1,035
- 1,901
- 1,538
- Cash & Bank
- 370
- 1,337
- Total Assets
- 17,365
- Total Debt
- 3,612
- Net Working Capital
- 948
- Contingent Liabilities
- 292
- Book Value per Share
- 353.97
- Face Value
- 10.00
- Total Debt
- 3,612
- Net Working Capital
- 948
- Contingent Liabilities
- 292
- Book Value per Share
- 353.97
- Face Value
- 10.00
- Equity Capital
- 296
- 11,243
- 1,141
- Trade Payables
- 1,570
- 3,780
- Total Liabilities
- 18,030
- 10,809
- Capital Work in Progress
- 702
- 1,487
- 1,805
- 1,765
- Cash & Bank
- 329
- 1,133
- Total Assets
- 18,030
- Total Debt
- 3,253
- Net Working Capital
- 1,524
- Contingent Liabilities
- 466
- Book Value per Share
- 389.30
- Face Value
- 10.00
- Total Debt
- 3,253
- Net Working Capital
- 1,524
- Contingent Liabilities
- 466
- Book Value per Share
- 389.30
- Face Value
- 10.00
- Equity Capital
- 296
- 12,347
- 1,233
- Trade Payables
- 1,654
- 4,308
- Total Liabilities
- 19,838
- 10,702
- Capital Work in Progress
- 1,744
- 1,350
- 2,124
- 1,948
- Cash & Bank
- 506
- 1,465
- Total Assets
- 19,838
- Total Debt
- 3,313
- Net Working Capital
- 1,384
- Contingent Liabilities
- 235
- Book Value per Share
- 426.53
- Face Value
- 10.00
- Total Debt
- 3,313
- Net Working Capital
- 1,384
- Contingent Liabilities
- 235
- Book Value per Share
- 426.53
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 550 | 606 | 595 | 1,216 | 1,422 | 1,638 | 2,788 | 1,903 | 2,264 | 2,346 | |
| Cash from Investing | -592 | -1,187 | -847 | -422 | -1,790 | -1,280 | -2,328 | -2,074 | -1,314 | -1,432 |
| Cash from Financing | -190 | 601 | 348 | -859 | 357 | -125 | -252 | 6 | -998 | -734 |
| -232 | 20 | 95 | -65 | -12 | 233 | 208 | -165 | -48 | 180 | |
| Free Cash Flow | -144 | -684 | -366 | 427 | 710 | -109 | 285 | 9 | 1,339 | 794 |
| OCF / Net Profit | 1.31 | 1.49 | 1.19 | 1.53 | 1.54 | 1.09 | 1.38 | 1.38 | 1.79 | 1.36 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -56 | -21 | 949 | 1,323 | 2,235 | 2,319 |
| OCF / Net Profit | 1.31 | 1.49 | 1.19 | 1.53 | 1.54 | 1.09 | 1.38 | 1.38 | 1.79 | 1.36 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -56 | -21 | 949 | 1,323 | 2,235 | 2,319 |
- 550
- Cash from Investing
- -592
- Cash from Financing
- -190
- -232
- Free Cash Flow
- -144
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 0
- 606
- Cash from Investing
- -1,187
- Cash from Financing
- 601
- 20
- Free Cash Flow
- -684
- OCF / Net Profit
- 1.49
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.49
- Cumulative 5-Year FCF
- 0
- 595
- Cash from Investing
- -847
- Cash from Financing
- 348
- 95
- Free Cash Flow
- -366
- OCF / Net Profit
- 1.19
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.19
- Cumulative 5-Year FCF
- 0
- 1,216
- Cash from Investing
- -422
- Cash from Financing
- -859
- -65
- Free Cash Flow
- 427
- OCF / Net Profit
- 1.53
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.53
- Cumulative 5-Year FCF
- 0
- 1,422
- Cash from Investing
- -1,790
- Cash from Financing
- 357
- -12
- Free Cash Flow
- 710
- OCF / Net Profit
- 1.54
- Cumulative 5-Year FCF
- -56
- OCF / Net Profit
- 1.54
- Cumulative 5-Year FCF
- -56
- 1,638
- Cash from Investing
- -1,280
- Cash from Financing
- -125
- 233
- Free Cash Flow
- -109
- OCF / Net Profit
- 1.09
- Cumulative 5-Year FCF
- -21
- OCF / Net Profit
- 1.09
- Cumulative 5-Year FCF
- -21
- 2,788
- Cash from Investing
- -2,328
- Cash from Financing
- -252
- 208
- Free Cash Flow
- 285
- OCF / Net Profit
- 1.38
- Cumulative 5-Year FCF
- 949
- OCF / Net Profit
- 1.38
- Cumulative 5-Year FCF
- 949
- 1,903
- Cash from Investing
- -2,074
- Cash from Financing
- 6
- -165
- Free Cash Flow
- 9
- OCF / Net Profit
- 1.38
- Cumulative 5-Year FCF
- 1,323
- OCF / Net Profit
- 1.38
- Cumulative 5-Year FCF
- 1,323
- 2,264
- Cash from Investing
- -1,314
- Cash from Financing
- -998
- -48
- Free Cash Flow
- 1,339
- OCF / Net Profit
- 1.79
- Cumulative 5-Year FCF
- 2,235
- OCF / Net Profit
- 1.79
- Cumulative 5-Year FCF
- 2,235
- 2,346
- Cash from Investing
- -1,432
- Cash from Financing
- -734
- 180
- Free Cash Flow
- 794
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 2,319
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 2,319
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 72.94 | 70.65 | 87.25 | 138.06 | 156.15 | 50.84 | 68.26 | 46.35 | 42.78 | 58.18 |
| Book Value (₹) | 547.51 | 600.60 | 681.46 | 814.49 | 1062.07 | 257.09 | 311.75 | 353.97 | 389.30 | 426.53 |
| Dividend per Share (₹) | 12.00 | 12.00 | 12.00 | 14.00 | 24.00 | 16.75 | 7.20 | 7.20 | 7.20 | 9.00 |
| Cash EPS (₹) | 23.02 | 23.82 | 28.76 | 39.90 | 44.18 | 64.98 | 84.06 | 65.11 | 64.03 | 81.41 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 20.67% | 18.61% | 19.16% | 20.47% | 25.36% | 26.59% | 26.91% | 21.62% | 20.63% | 23.82% |
| Net Margin % | 9.98% | 8.50% | 8.23% | 12.34% | 13.00% | 15.01% | 16.50% | 12.43% | 10.65% | 13.59% |
| ROE % | 14.09% | 12.31% | 13.62% | 18.46% | 16.86% | 21.66% | 24.00% | 13.93% | 11.51% | 14.26% |
| ROCE % | 13.43% | 11.37% | 13.01% | 13.40% | 17.52% | 23.35% | 24.96% | 14.79% | 13.82% | 15.44% |
| 7.36% | 6.13% | 6.29% | 9.07% | 9.47% | 12.74% | 14.20% | 8.35% | 7.17% | 9.11% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 39 | 38 | 40 | 46 | 46 | 43 | 41 | 49 | 51 | 53 |
| Inventory Days | 57 | 59 | 58 | 63 | 61 | 55 | 54 | 62 | 57 | 57 |
| Payable Days | 88 | 109 | 94 | 104 | 108 | 87 | 77 | 87 | 80 | 76 |
| 8 | -11 | 4 | 5 | -1 | 11 | 18 | 24 | 28 | 34 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.53x | 0.72x | 0.79x | 0.57x | 0.41x | 0.36x | 0.33x | 0.34x | 0.28x | 0.26x |
| Interest Coverage (x) | 8.07x | 6.23x | 4.85x | 5.29x | 12.78x | 23.82x | 16.11x | 8.29x | 6.75x | 11.57x |
| 1.13x | 1.01x | 1.03x | 0.95x | 1.43x | 1.35x | 1.44x | 1.23x | 1.42x | 1.31x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 6.69% | 18.00% | 35.43% | 2.02% | 10.39% | 42.43% | 21.30% | -10.66% | 8.45% | 6.18% |
| Operating Profit Growth % | 2.75% | 2.44% | 31.42% | 12.66% | 37.16% | 47.87% | 23.66% | -23.96% | 4.84% | 19.81% |
| Net Profit Growth % | 12.63% | -3.14% | 23.63% | 58.24% | 16.57% | 62.91% | 34.26% | -32.09% | -7.71% | 36.00% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -32.09% | -7.71% | 36.00% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 55.17x | 68.71x | 41.89x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.23x | 7.55x | 5.71x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.28% | 0.24% | 0.37% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 31.50x | 34.23x | 23.81x |
- EPS (₹)
- 72.94
- Book Value (₹)
- 547.51
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 23.02
- Operating Margin %
- 20.67%
- Net Margin %
- 9.98%
- ROE %
- 14.09%
- ROCE %
- 13.43%
- 7.36%
- Debtor Days
- 39
- Inventory Days
- 57
- Payable Days
- 88
- 8
- Debt to Equity (x)
- 0.53x
- Interest Coverage (x)
- 8.07x
- 1.13x
- Revenue Growth %
- 6.69%
- Operating Profit Growth %
- 2.75%
- Net Profit Growth %
- 12.63%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 70.65
- Book Value (₹)
- 600.60
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 23.82
- Operating Margin %
- 18.61%
- Net Margin %
- 8.50%
- ROE %
- 12.31%
- ROCE %
- 11.37%
- 6.13%
- Debtor Days
- 38
- Inventory Days
- 59
- Payable Days
- 109
- -11
- Debt to Equity (x)
- 0.72x
- Interest Coverage (x)
- 6.23x
- 1.01x
- Revenue Growth %
- 18.00%
- Operating Profit Growth %
- 2.44%
- Net Profit Growth %
- -3.14%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 87.25
- Book Value (₹)
- 681.46
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 28.76
- Operating Margin %
- 19.16%
- Net Margin %
- 8.23%
- ROE %
- 13.62%
- ROCE %
- 13.01%
- 6.29%
- Debtor Days
- 40
- Inventory Days
- 58
- Payable Days
- 94
- 4
- Debt to Equity (x)
- 0.79x
- Interest Coverage (x)
- 4.85x
- 1.03x
- Revenue Growth %
- 35.43%
- Operating Profit Growth %
- 31.42%
- Net Profit Growth %
- 23.63%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 138.06
- Book Value (₹)
- 814.49
- Dividend per Share (₹)
- 14.00
- Cash EPS (₹)
- 39.90
- Operating Margin %
- 20.47%
- Net Margin %
- 12.34%
- ROE %
- 18.46%
- ROCE %
- 13.40%
- 9.07%
- Debtor Days
- 46
- Inventory Days
- 63
- Payable Days
- 104
- 5
- Debt to Equity (x)
- 0.57x
- Interest Coverage (x)
- 5.29x
- 0.95x
- Revenue Growth %
- 2.02%
- Operating Profit Growth %
- 12.66%
- Net Profit Growth %
- 58.24%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 156.15
- Book Value (₹)
- 1062.07
- Dividend per Share (₹)
- 24.00
- Cash EPS (₹)
- 44.18
- Operating Margin %
- 25.36%
- Net Margin %
- 13.00%
- ROE %
- 16.86%
- ROCE %
- 17.52%
- 9.47%
- Debtor Days
- 46
- Inventory Days
- 61
- Payable Days
- 108
- -1
- Debt to Equity (x)
- 0.41x
- Interest Coverage (x)
- 12.78x
- 1.43x
- Revenue Growth %
- 10.39%
- Operating Profit Growth %
- 37.16%
- Net Profit Growth %
- 16.57%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 50.84
- Book Value (₹)
- 257.09
- Dividend per Share (₹)
- 16.75
- Cash EPS (₹)
- 64.98
- Operating Margin %
- 26.59%
- Net Margin %
- 15.01%
- ROE %
- 21.66%
- ROCE %
- 23.35%
- 12.74%
- Debtor Days
- 43
- Inventory Days
- 55
- Payable Days
- 87
- 11
- Debt to Equity (x)
- 0.36x
- Interest Coverage (x)
- 23.82x
- 1.35x
- Revenue Growth %
- 42.43%
- Operating Profit Growth %
- 47.87%
- Net Profit Growth %
- 62.91%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 68.26
- Book Value (₹)
- 311.75
- Dividend per Share (₹)
- 7.20
- Cash EPS (₹)
- 84.06
- Operating Margin %
- 26.91%
- Net Margin %
- 16.50%
- ROE %
- 24.00%
- ROCE %
- 24.96%
- 14.20%
- Debtor Days
- 41
- Inventory Days
- 54
- Payable Days
- 77
- 18
- Debt to Equity (x)
- 0.33x
- Interest Coverage (x)
- 16.11x
- 1.44x
- Revenue Growth %
- 21.30%
- Operating Profit Growth %
- 23.66%
- Net Profit Growth %
- 34.26%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 46.35
- Book Value (₹)
- 353.97
- Dividend per Share (₹)
- 7.20
- Cash EPS (₹)
- 65.11
- Operating Margin %
- 21.62%
- Net Margin %
- 12.43%
- ROE %
- 13.93%
- ROCE %
- 14.79%
- 8.35%
- Debtor Days
- 49
- Inventory Days
- 62
- Payable Days
- 87
- 24
- Debt to Equity (x)
- 0.34x
- Interest Coverage (x)
- 8.29x
- 1.23x
- Revenue Growth %
- -10.66%
- Operating Profit Growth %
- -23.96%
- Net Profit Growth %
- -32.09%
- -32.09%
- P/E (x)
- 55.17x
- P/B (x)
- 7.23x
- Dividend Yield %
- 0.28%
- 31.50x
- EPS (₹)
- 42.78
- Book Value (₹)
- 389.30
- Dividend per Share (₹)
- 7.20
- Cash EPS (₹)
- 64.03
- Operating Margin %
- 20.63%
- Net Margin %
- 10.65%
- ROE %
- 11.51%
- ROCE %
- 13.82%
- 7.17%
- Debtor Days
- 51
- Inventory Days
- 57
- Payable Days
- 80
- 28
- Debt to Equity (x)
- 0.28x
- Interest Coverage (x)
- 6.75x
- 1.42x
- Revenue Growth %
- 8.45%
- Operating Profit Growth %
- 4.84%
- Net Profit Growth %
- -7.71%
- -7.71%
- P/E (x)
- 68.71x
- P/B (x)
- 7.55x
- Dividend Yield %
- 0.24%
- 34.23x
- EPS (₹)
- 58.18
- Book Value (₹)
- 426.53
- Dividend per Share (₹)
- 9.00
- Cash EPS (₹)
- 81.41
- Operating Margin %
- 23.82%
- Net Margin %
- 13.59%
- ROE %
- 14.26%
- ROCE %
- 15.44%
- 9.11%
- Debtor Days
- 53
- Inventory Days
- 57
- Payable Days
- 76
- 34
- Debt to Equity (x)
- 0.26x
- Interest Coverage (x)
- 11.57x
- 1.31x
- Revenue Growth %
- 6.18%
- Operating Profit Growth %
- 19.81%
- Net Profit Growth %
- 36.00%
- 36.00%
- P/E (x)
- 41.89x
- P/B (x)
- 5.71x
- Dividend Yield %
- 0.37%
- 23.81x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-07-29 - SRF Limited has informed the Exchange about Transcript
- Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-27 - SRF Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jul 2026
May 2026
Jan 2026

