Buy SRF, target price Rs 2452: Anand Rathi

Anand Rathi has buy call on SRF with a target price of Rs 2452. The current market price of SRF is Rs 2191.1. Time period given by analyst is one year when SRF Ltd. price can reach defined target.

SRF Ltd., incorporated in the year 1970, is a Large Cap company (having a market cap of Rs 13108.30 Crore) operating in Diversified sector.

SRF Ltd. key Products/Revenue Segments include Chemicals (Industrial), Packaging Film, Textiles, Others for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 2850.09 Crore, up 5.05 % from last quarter Total Income of Rs 2713.18 Crore and up 35.04 % from last year same quarter Total Income of Rs 2110.58 Crore. Company reported net profit after tax of Rs 382.45 Crore in latest quarter.

Investment Rationale
The brokerage continues to remain positive on the stock and maintain our BUY rating on the stock with a revised target price of Rs.2,452 per share.

Promoter/FII Holdings
Promoters held 50.77 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.18 per cent, DIIs 10.42 per cent.