After the company reported a great operating performance for the quarter ending June 2021, shares of SRF soared 8% to a new high of Rs 8,535.95 on the BSE in intra-day trade on Friday, up 11% in the previous two trading days (Q1FY22). The company's market capitalization (m-cap) surpassed Rs 50,000 crore for the first time today, thanks to a strong rise in stock prices.
SRF, a manufacturer of industrial and specialty intermediates, has undertaken significant management changes. SRF stock was flying high on Thursday, nearing its all-time high, after the business released its financial results for the June 2021 quarter.
SRF is a chemical-based multi-business enterprise that produces industrial and specialised intermediates. SRF's consolidated net profit more than quadrupled in Q1FY22, reaching Rs 395.3 crore from Rs 176.9 crore in Q1FY21.
Revenue increased by 75% year on year (YoY) to Rs 2,699 crore, compared to Rs 1,545 crore in the preceding fiscal quarter.
The Ebitda margin (earnings before interest, taxes, depreciation, and amortization) increased by 50 basis points to 24.6 percent.
The specialty chemicals division, which accounts for 42% of overall revenue, did strongly in the quarter, according to the company, thanks to improved sales from exports and local markets. Higher sales volumes in the refrigerants and blends categories, as well as greater sales realizations, were seen in the fluorochemicals industry, particularly in export markets.
On the NSE, SRF is currently trading at Rs 8,555, up Rs 624 or 7.87 percent at 11.17 AM. The stock reached an intraday high and a 52-week high of Rs 8,724.80 during the trade. The stock returned a whopping 130 percent in a year. The current market capitalization is Rs 51.37 trillion rupees.