SRF quarterly results showcased yet another set of numbers aced by chemicals.
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights Strong growth for chemicals; contributed 88 percent at EBIT level Packaging business lack lustre due to adverse demand-supply situation Demand trend for belting fabrics to support Technical textile business Elevated capex budget - PTFE (Polytetrafluoroethylene) and R-32 plants lined up Fair valuation SRF’s (CMP: Rs 2,561; Market cap: Rs 75,900 crore) quarterly results showcased yet another set of numbers aced by chemicals. This was helped by the demand for flagship products and the ramp-up in new plants. The current fiscal year (FY24) is also...