SRF Q2 Results Review - Recovery Delayed As Uncertainties Persist: Dolat Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.SRF Ltd.'s chemicals reported Ebit margin of 18.1% (-625 basis points YoY/-255 bps QoQ) due to volume/pricing issues in some key specialty chemical molecules and R-gas exports, resulting in weak overall Q2 FY25 performance with Ebitda/PAT at Rs 5.4 billion/2.0 billion (below estimates). Management remains confident of revival in H2 FY25 on the back of healthy order book for specialty chemicals with traction seen in new products and order execution to improve progressively over next couple of quarters. However, it refrained from giving any revenue or margin guidance (previously ~20% growth for chemicals segment with Ebit margins of ~24%). We cut our FY25/FY26E Ebitda estimates by 8%/5% as we factor-lower margin across specialty and fluoro chemicals and gradual ramp-up in new projects. .Maintain ‘Accumulate’ rating with SoTPbased revised target price of Rs 2520 (earlier Rs 2460) as we roll to Dec-26..Click on the attachment to read the full report:.SRF Q2 Results: Profit Falls 33%, Misses Estimates.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

SRF Q2 Results Review - Recovery Delayed As Uncertainties Persist: Dolat Capital

Near-term challenges exist though well-placed over long term, says the brokerage.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

SRF Q2 Results Review - Recovery Delayed As Uncertainties Persist: Dolat Capital

Near-term challenges exist though well-placed over long term, says the brokerage.

Choose a plan

Follow Us

DOWNLOAD THE APP