This multibagger stock doubled shareholder's money in one year; do you own it?
It has surged from the Rs 1,005 mark to touch Rs 2,244.15. The large-cap stock has gained 123 per cent in the last one year and has risen 96 per cent since the beginning of this year.
- Nov 18, 2021,
- Updated Nov 18, 2021 5:12 PM IST
Shares of SRF Limited have doubled investors' money in the last 12 months. The stock rose 4 per cent to hit an intraday high of Rs 2244.15 on the Bomabay Stock Exchange (BSE). It has surged from the Rs 1,005 mark to touch Rs 2,244.15. The large-cap stock has gained 123 per cent in the last one year and has risen 96 per cent since the beginning of this year. With a market capitalisation of more than Rs 64,000 crore, the shares stand higher than 5 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages. The company reported a 21 per cent year-on-year (YoY) rise in its net profit at Rs 382.45 crore for the quarter ended September 2021. Profit in the year-ago period stood at Rs 315 crore. Net Sales grew 35 per cent to Rs 2,838.97 crore in the September quarter compared to Rs 2,100.83 crore in the year-ago period.
Commenting on the results, Managing Director, Ashish Bharat Ram said, "This has been another good quarter for the company. Although we have witnessed an increase in prices of key raw materials and logistics costs due to many domestic and international factors, and despite various challenges linked to COVID-19 and supply chain disruptions, we were able to deliver good numbers."
Brokerage firm ICICI Securities noted that SRF's Q2FY22 print was not encouraging, but for strong margin expansion in chemical business from higher realisations in HFCs (ref-gas), we anticipate even higher benefit in H2FY22.
"Technical textiles and packaging films margin compression QoQ was expected, but pace has negatively surprised. Ref-gas utilisation increase along with higher spreads should support near-term profitability and continued growth in specialty chemicals (guidance: 15-20% growth in FY22 stays). Rising power cost and RM pressure could be key risks," it said in a report.
It further added that SRF has committed Rs 20 billion capex in FY22, of which, chemicals would see Rs 12 billion investment. Segmental margins have been very dynamical, but on consolidated basis we have increased our EBITDA estimate by 4% / 5% in FY22/ FY23, it said.
According to MarketsMojo, the company has declared positive results for the last 5 consecutive quarters and has high institutional holdings at 29.6%. The stock is technically in a Mildly Bullish range. Multiple factors for the stock are Bullish like MACD, Bollinger Band, KST and DOW.
Shares of SRF Limited have doubled investors' money in the last 12 months. The stock rose 4 per cent to hit an intraday high of Rs 2244.15 on the Bomabay Stock Exchange (BSE). It has surged from the Rs 1,005 mark to touch Rs 2,244.15. The large-cap stock has gained 123 per cent in the last one year and has risen 96 per cent since the beginning of this year. With a market capitalisation of more than Rs 64,000 crore, the shares stand higher than 5 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages. The company reported a 21 per cent year-on-year (YoY) rise in its net profit at Rs 382.45 crore for the quarter ended September 2021. Profit in the year-ago period stood at Rs 315 crore. Net Sales grew 35 per cent to Rs 2,838.97 crore in the September quarter compared to Rs 2,100.83 crore in the year-ago period.
Commenting on the results, Managing Director, Ashish Bharat Ram said, "This has been another good quarter for the company. Although we have witnessed an increase in prices of key raw materials and logistics costs due to many domestic and international factors, and despite various challenges linked to COVID-19 and supply chain disruptions, we were able to deliver good numbers."
Brokerage firm ICICI Securities noted that SRF's Q2FY22 print was not encouraging, but for strong margin expansion in chemical business from higher realisations in HFCs (ref-gas), we anticipate even higher benefit in H2FY22.
"Technical textiles and packaging films margin compression QoQ was expected, but pace has negatively surprised. Ref-gas utilisation increase along with higher spreads should support near-term profitability and continued growth in specialty chemicals (guidance: 15-20% growth in FY22 stays). Rising power cost and RM pressure could be key risks," it said in a report.
It further added that SRF has committed Rs 20 billion capex in FY22, of which, chemicals would see Rs 12 billion investment. Segmental margins have been very dynamical, but on consolidated basis we have increased our EBITDA estimate by 4% / 5% in FY22/ FY23, it said.
According to MarketsMojo, the company has declared positive results for the last 5 consecutive quarters and has high institutional holdings at 29.6%. The stock is technically in a Mildly Bullish range. Multiple factors for the stock are Bullish like MACD, Bollinger Band, KST and DOW.