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Wednesday, January 1, 2020
Viewpoint - SRF Limited
SRF Limited
On firm footing
- We maintain our Positive view on SRF Limited (SRF) with a further potential upside of 10-12%.
- We believe healthy performance in Q3FY2020E backed by the chemical business is expected to further inch up investor returns, despite delivering 15%+ return since our last report dated November 5, 2019.
- The company's expansion plans are progressing well as stipulated and, hence, we expect revenue and earnings CAGR of 15% and 22%, respectively, during FY2019-FY2022E.
- Management has guided for a healthy performance in FY2020E, backed by continued strong performance in chemicals and packaging films businesses.
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