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SRF has growth momentum but global uncertainties a risk

Mint Hyderabad

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May 15, 2025

RF Ltd's shares have declined 4% since it announced stellar Q4 results on Monday.

- Ashish Agrawal

This could be because of the slight weakness in the equity markets and the 35% rise in SRF stock in 2025 till Q4 results.

The industrial and specialty chemicals manufacturer's consolidated Q4 Ebitda rose 41% year-on-year to ₹1,000 crore (adjusted for currency fluctuations), aided by improved pricing and better operating leverage. Revenue grew by 21% to ₹4,300 crore.

In contrast, 9MFY25 revenue growth was 8% and Ebitda had declined 6%, affected by inventory destocking. SRF projected 20% revenue growth in FY26 for its key segment, chemicals. Chemicals formed 46% of FY25 revenue and 71% of Ebit.

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