SRF Share price: Anand Rathi initiates coverage on SRF with BUY rating and a target price of Rs 6340 per share

SRF is a chemical-based multi-business conglomerate engaged in the manufacturing of industrial and specialty intermediates. The company’s business is segmented into four segments Technical Textiles Business (TTB), Specialty Chemicals Business (SCB), Packaging Films Business (PFB), and Other Businesses. Anand Rathi initiates coverage on SRF with BUY rating and a target price of Rs 6340 per share.

SRF has operations in four countries namely India, Thailand and South Africa and a new facility in Hungary with commercial interests in more than ninety countries. The company also has its own R&D capabilities globally, especially in the niche domain of chemicals.

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In Q2 FY21, SRF has posted a growth of 16% in revenues at Rs 21464 mn in Q3 FY21 as against Rs 18505 mn in Q3-FY20. The operating profit margins for the company improved 500 bps to 26.4%…