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Last Updated: April 2, 2026, 3:43 am
Author: Getaka|Social: XLinkedIn

SRF Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,530.14Overvalued by 40.11%vs CMP ₹2,555.00

P/E (41.0) × ROE (10.4%) × BV (₹447.00) × DY (0.35%)

₹829.15Overvalued by 67.55%vs CMP ₹2,555.00
MoS: -208.1% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,512.0022%Over (-40.8%)
Graham NumberEarnings₹777.0116%Over (-69.6%)
Earnings PowerEarnings₹254.9413%Over (-90%)
DCFCash Flow₹487.1613%Over (-80.9%)
Net Asset ValueAssets₹447.407%Over (-82.5%)
EV/EBITDAEnterprise₹1,021.949%Over (-60%)
Earnings YieldEarnings₹600.307%Over (-76.5%)
ROCE CapitalReturns₹937.269%Over (-63.3%)
Revenue MultipleRevenue₹743.465%Over (-70.9%)
Consensus (9 models)₹829.15100%Overvalued
Key Drivers: Wide model spread (₹255–₹1,512) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -1.2%

*Investments are subject to market risks

Investment Snapshot

59
SRF Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health67/100 · Strong
ROCE 12.3% GoodROE 10.4% AverageD/E 0.42 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 1.76% MF buyingPromoter holding at 50.3% Stable
Earnings Quality40/100 · Moderate
OPM contracting (25% → 19%) Declining
Quarterly Momentum80/100 · Strong
Revenue (4Q): +11% YoY GrowingProfit (4Q): +55% YoY Strong
Industry Rank45/100 · Moderate
P/E 41.0 vs industry 27.8 In-lineROCE 12.3% vs industry 10.6% Average3Y sales CAGR: 6% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:43 am

Market Cap 75,742 Cr.
Current Price 2,555
Intrinsic Value₹829.15
High / Low 3,325/2,314
Stock P/E41.0
Book Value 447
Dividend Yield0.35 %
ROCE12.3 %
ROE10.4 %
Face Value 10.0
PEG Ratio-34.57

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for SRF Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
SRF Ltd 75,742 Cr. 2,555 3,325/2,31441.0 4470.35 %12.3 %10.4 % 10.0
Navin Fluorine International Ltd 30,927 Cr. 6,034 6,965/3,66555.0 7030.20 %11.7 %11.5 % 2.00
Jubilant Industries Ltd 4,185 Cr. 1,634 /59.6 1550.00 %24.2 %23.7 % 10.0
S H Kelkar & Company Ltd (SHK) 1,707 Cr. 123 276/11218.4 96.10.81 %10.3 %7.70 % 10.0
Shree Pushkar Chemicals & Fertilizers Ltd 1,038 Cr. 321 477/22014.1 1790.62 %11.6 %11.4 % 10.0
Industry Average14,448.13 Cr1,113.7027.79204.330.49%10.57%8.89%7.60

All Competitor Stocks of SRF Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,4703,7783,3383,1773,0533,5703,4643,4243,4914,3133,8193,6403,713
Expenses 2,6362,8462,6422,5512,4872,8742,8612,8862,8723,3562,9892,8662,933
Operating Profit 834932696626566696603538620957830774780
OPM % 24%25%21%20%19%19%17%16%18%22%22%21%21%
Other Income 102212291923253340342926-46
Interest 62666679679097949689807166
Depreciation 151155157161169186188194194195203212217
Profit before tax 631733486415348443344284369707576517452
Tax % 19%23%26%27%27%5%27%29%26%26%25%25%4%
Net Profit 511562359301253422252201271526432388433
EPS in Rs 17.2418.9712.1210.158.5514.248.516.799.1417.7514.5813.1014.60

Last Updated: February 4, 2026, 2:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,0184,5404,5934,8225,5897,1007,2098,40012,43414,87013,13914,69315,485
Expenses 3,5133,8223,6303,8524,6835,8035,7546,2679,33011,34110,55411,97512,143
Operating Profit 5057179639699061,2971,4552,1333,1033,5292,5842,7183,341
OPM % 13%16%21%20%16%18%20%25%25%24%20%18%22%
Other Income 246528731157815266116758313343
Interest 96138130102124198201134116205302376305
Depreciation 225245275283316358389453517575673772827
Profit before tax 2083995856575828181,0181,6122,5862,8241,6921,7042,252
Tax % 22%24%27%22%21%22%-0%26%27%23%21%27%
Net Profit 1623034305154626421,0191,1981,8892,1621,3361,2511,779
EPS in Rs 5.6610.5514.9717.9416.0822.3335.4640.4463.7272.9545.0642.2060.03
Dividend Payout % 36%19%14%14%15%11%8%12%26%10%16%17%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)87.04%41.91%19.77%-10.29%38.96%58.72%17.57%57.68%14.45%-38.21%-6.36%
Change in YoY Net Profit Growth (%)0.00%-45.12%-22.15%-30.06%49.25%19.76%-41.16%40.11%-43.23%-52.66%31.84%

SRF Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:15%
3 Years:6%
TTM:13%
Compounded Profit Growth
10 Years:16%
5 Years:4%
3 Years:-13%
TTM:16%
Stock Price CAGR
10 Years:29%
5 Years:28%
3 Years:3%
1 Year:10%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:15%
Last Year:10%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: December 4, 2025, 2:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 5858585858585860297297297297297
Reserves 2,0082,2382,7053,1243,5064,0714,8756,7968,26810,03011,18212,32912,966
Borrowings 2,1752,4352,5152,3963,1423,7304,1353,4693,6554,4785,0314,7264,605
Other Liabilities 1,2271,1521,1461,3891,6572,0281,7952,5863,5443,9313,9454,1694,393
Total Liabilities 5,4695,8836,4246,9688,3639,88810,86212,91115,76518,73620,45421,52122,261
Fixed Assets 3,5513,9224,1134,4055,1225,6096,3687,8278,42510,05013,24213,72013,932
CWIP 1121041172595597541,3937721,6722,4068058111,238
Investments 3794165196122101203417321494527827537
Other Assets 1,7691,7622,0292,1092,5613,4242,8993,8955,3475,7865,8816,1636,555
Total Assets 5,4695,8836,4246,9688,3639,88810,86212,91115,76518,73620,45421,52122,261

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3475421,0906456788961,3041,7722,1062,9022,0942,487
Cash from Investing Activity + -657-500-667-613-1,174-1,039-1,179-1,499-1,586-2,964-2,231-1,482
Cash from Financing Activity + 205-18-182-284495246-199-251-207220-72-1,071
Net Cash Flow -10624241-252-1103-7322312158-209-65
Free Cash Flow -443585115-605-157-6956728950-1081,265
CFO/OP 77%87%125%79%88%81%99%95%81%97%96%104%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow503.00715.00961.00967.00903.00-2.00-3.00-1.000.00-1.00-3.00-2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 634941504453455553445454
Inventory Days 114110105126115113119133129112127111
Days Payable 12083112122126127110144126110120111
Cash Conversion Cycle 567534543438544555466155
Working Capital Days 19101-15-21-17-37-141-6-18-9
ROCE %8%11%14%14%11%14%14%18%24%22%13%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 50.53%50.53%50.53%50.53%50.31%50.26%50.26%50.26%50.26%50.26%50.26%50.26%
FIIs 18.52%20.04%19.80%19.60%19.09%18.76%18.30%18.37%18.28%18.24%17.98%17.48%
DIIs 14.92%13.71%14.12%14.51%15.97%16.57%17.76%17.78%18.42%18.85%19.53%20.18%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.04%0.04%0.04%0.04%0.04%0.04%
Public 16.01%15.72%15.57%15.36%14.66%14.44%13.66%13.55%13.01%12.61%12.20%12.05%
No. of Shareholders 2,60,4232,54,1692,71,1702,59,4572,34,3212,26,9392,11,7492,11,6981,99,5481,92,6181,91,9911,81,280

Shareholding Pattern Chart

No. of Shareholders

SRF Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Flexicap Fund 6,250,000 2.82 1601.38N/AN/AN/A
Kotak Midcap Fund 4,057,530 1.69 1039.623,807,5302025-12-15 01:56:576.57%
Kotak Large & Midcap Fund 1,750,000 1.46 448.39N/AN/AN/A
Mirae Asset Large & Midcap Fund 1,638,266 0.98 419.76838,2662026-03-24 01:25:1395.44%
HDFC Large Cap Fund 1,388,025 0.89 355.64N/AN/AN/A
Mirae Asset Midcap Fund 1,253,491 1.78 321.17761,6722026-03-24 01:25:1364.57%
Axis Midcap Fund 1,207,915 0.97 309.491,078,8162026-03-10 00:06:5711.97%
Aditya Birla Sun Life Flexi Cap Fund 1,150,000 1.17 294.65N/AN/AN/A
Edelweiss Mid Cap Fund 913,522 1.63 234.06N/AN/AN/A
PGIM India Midcap Fund 835,840 1.97 214.16724,5002026-02-23 06:34:5815.37%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 42.2045.0672.9563.7540.57
Diluted EPS (Rs.) 42.2045.0672.9563.7540.57
Cash EPS (Rs.) 67.9967.5292.0480.89273.98
Book Value[Excl.RevalReserv]/Share (Rs.) 424.50385.93347.20287.971137.81
Book Value[Incl.RevalReserv]/Share (Rs.) 424.50385.93347.20287.971137.81
Revenue From Operations / Share (Rs.) 493.98441.72499.94418.021393.97
PBDIT / Share (Rs.) 95.8689.67121.17108.21365.03
PBIT / Share (Rs.) 69.9267.06101.8390.82289.84
PBT / Share (Rs.) 57.2856.8994.9486.93267.62
Net Profit / Share (Rs.) 42.0544.9172.7063.51198.79
NP After MI And SOA / Share (Rs.) 42.0544.9172.7063.51198.79
PBDIT Margin (%) 19.4020.3024.2325.8826.18
PBIT Margin (%) 14.1515.1820.3621.7220.79
PBT Margin (%) 11.5912.8718.9920.7919.19
Net Profit Margin (%) 8.5110.1614.5415.1914.26
NP After MI And SOA Margin (%) 8.5110.1614.5415.1914.26
Return on Networth / Equity (%) 9.9011.6320.9322.0517.47
Return on Capital Employeed (%) 12.8913.2921.8823.8318.66
Return On Assets (%) 5.806.5211.5211.979.26
Long Term Debt / Equity (X) 0.150.190.220.200.28
Total Debt / Equity (X) 0.360.420.420.410.42
Asset Turnover Ratio (%) 0.690.660.860.760.64
Current Ratio (X) 1.131.031.171.181.10
Quick Ratio (X) 0.690.600.710.700.69
Inventory Turnover Ratio (X) 6.292.913.232.952.64
Dividend Payout Ratio (NP) (%) 17.0615.979.8711.2111.79
Dividend Payout Ratio (CP) (%) 10.5510.627.798.808.55
Earning Retention Ratio (%) 82.9484.0390.1388.7988.21
Cash Earning Retention Ratio (%) 89.4589.3892.2191.2091.45
Interest Coverage Ratio (X) 7.588.8217.6027.7616.42
Interest Coverage Ratio (Post Tax) (X) 4.335.4211.5617.299.95
Enterprise Value (Cr.) 91715.5280584.4775307.6182747.8235228.28
EV / Net Operating Revenue (X) 6.246.135.066.664.19
EV / EBITDA (X) 32.1730.2120.8925.7116.02
MarketCap / Net Operating Revenue (X) 5.955.794.816.413.88
Retention Ratios (%) 82.9384.0290.1288.7888.20
Price / BV (X) 6.926.636.939.304.75
Price / Net Operating Revenue (X) 5.955.794.816.413.88
EarningsYield 0.010.010.030.020.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

SRF Ltd. is a Public Limited Listed company incorporated on 09/01/1970 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L18101DL1970PLC005197 and registration number is 005197. Currently Company is involved in the business activities of Manufacture of other chemical products. Company's Total Operating Revenue is Rs. 11697.97 Cr. and Equity Capital is Rs. 297.44 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - OthersUnit Nos. 236 & 237, 2nd Floor, DLF Galleria, Mayur Place, Delhi Delhi 110091Contact not found
Management
NamePosition Held
Mr. Arun Bharat RamChairman Emeritus
Mr. Ashish Bharat RamChairman & Managing Director
Mr. Kartik Bharat RamJoint Managing Director
Mr. Pramod G GujarathiDirector
Mr. Vellayan SubbiahNon Exe.Non Ind.Director
Ms. Bharti Gupta RamolaIndependent Director
Mr. Puneet Yadu DalmiaIndependent Director
Mr. Yash GuptaIndependent Director
Mr. Raj Kumar JainIndependent Director
Ms. Ira GuptaIndependent Director
Mr. Vineet AgarwalIndependent Director

FAQ

What is the intrinsic value of SRF Ltd and is it undervalued?

As of 14 April 2026, SRF Ltd's intrinsic value is ₹829.15, which is 67.55% lower than the current market price of ₹2,555.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (10.4 %), book value (₹447), dividend yield (0.35 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of SRF Ltd?

SRF Ltd is trading at ₹2,555.00 as of 14 April 2026, with a FY2026-2027 high of ₹3,325 and low of ₹2,314. The stock is currently near its 52-week low. Market cap stands at ₹75,742 Cr..

How does SRF Ltd's P/E ratio compare to its industry?

SRF Ltd has a P/E ratio of 41.0, which is above the industry average of 27.79. The premium over industry average may reflect growth expectations or speculative interest.

Is SRF Ltd financially healthy?

Key indicators for SRF Ltd: ROCE of 12.3 % is moderate. Dividend yield is 0.35 %.

Is SRF Ltd profitable and how is the profit trend?

SRF Ltd reported a net profit of ₹1,251 Cr in Mar 2025 on revenue of ₹14,693 Cr. Compared to ₹1,889 Cr in Mar 2022, the net profit shows a declining trend.

Does SRF Ltd pay dividends?

SRF Ltd has a dividend yield of 0.35 % at the current price of ₹2,555.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in SRF Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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