BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
SRF Ltd. reported a stellar quarter with all growth engines firing.
The company's reported sales of Rs 27.0 billion, ahead of our estimates (Rs 26.2 billion) up by 74.7% YoY and 3.5% QoQ.
Ebitda too showed a strong growth of 78.4% YoY and 4.7% QoQ to Rs 6.64 billion.
Profit after tax growth was at 123.5% YoY to Rs 3.95 billion ahead of our estimates (Rs 3.71 billion).
SRF delivered strong operating leverage despite fall in gross margins by 134 basis points YoY (marginally improved gross margins by 66 bps QoQ) to 50.7%, due to which Ebitda margins stood at 24.6% (up 51 bps YoY).
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