SRF Limited (SRF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of SRF Limited stock ₹1,544, price ₹2,460, that is 37.2% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ₹1,495 – ₹3,275 · fair‑value band ₹768.58 – ₹2,368 · the ₹2,460 price screens above the ₹1,544 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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SRF Limited manufactures, purchases, and sells technical textiles, chemicals, packaging films, and other polymers. It operates through Technical Textiles Business, Chemicals Business, Performance Films and Foil Business, and Others segments.
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The company offers polyester and nylon tyre cord, belting, coated, and laminated fabrics; and industrial and polyester industrial yarns.
It also provides fluorochemicals, such as refrigerants for room air-conditioner, automobile air-conditioner, refrigerator, and chillers under the FLORON brand; pharma propellants under the Dymel brand; industrial chemicals used in various applications comprising solvents in pharma, feedstock for agrochemicals, metal de-greasing, etching of stainless steel and glass, foam blowing agents, and dry-cleaning; and fluoropolymers, such as PTFE resins for automotive, chemical processing/plant construction, construction, electrical/electronic engineering, semiconductor, and pharma and medical applications under the Flonio brand.
In addition, the company offers advanced intermediates for the agrochemical and pharmaceutical applications; and bi-axially oriented polyethylene terephthalate and bi-axially oriented polypropylene films under the PETLAR and OPLAR brands.
Further, it engages in the acquisition and renting of real estate; and manufacture of aluminum foil.
The company operates in India, Germany, the United States, South Africa, the United Kingdom, Italy, Indonesia, the United Arab Emirates, South Korea, Thailand, Hungary, Switzerland, Belgium, and internationally.
The company was formerly known as Shri Ram Fibres and changed its name to SRF Limited in 1990. SRF Limited was incorporated in 1970 and is headquartered in Gurugram, India. SRF Limited operates as a subsidiary of KAMA Holdings Limited.
Stock analysis
SRF Limited (SRF) currently trades at ₹2,460, while our model-based Fair Value estimate is ₹1,544, 37% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of ₹1,374 per share, and 0 of the 13 models we run sit above the ₹2,460 price.
Bear case: the Asset-Based group reads lowest at ₹315.03, and 13 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹768.58 (bear) to ₹2,368 (bull), the price of ₹2,460 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SRF Limited reported revenue of ₹154B in FY2026 versus ₹124B in FY2022, a compound +5.5%/yr. Reported net income was ₹18.4B in FY2026, compounding −0.7%/yr from FY2022.
Key figures
Market cap ₹729B (≈ $7.8B) Mid · P/E ratio 32.2 · P/S ratio 3.99 · EPS (TTM) ₹76.52 · Dividend yield 0.4% · Net margin 12.5% · Return on equity 16.0% · Return on assets (EBIT) 25.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at −37%, SRF screens richer than that median.
Fair Value models
Bear₹768.58Fair Value ₹1,544Bull₹2,368
Price ₹2,460 · Downside -37.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹41.25 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Growth DCF₹302.26₹515.70₹826.8877
Residual Income₹426.99₹495.67₹690.8176
Owner Earnings₹204.73₹377.23₹645.3074
All 13 models by family
DCF Models
Owner Earnings₹204.73₹377.23₹645.3074
5Y P/E Exit₹541.47₹1,056₹1,65169
10Y P/E Exit₹446.01₹858.01₹1,45361
Earnings-Based
Graham-Dodd₹421.02₹1,993₹2,74164
Lynch FV₹529.18₹755.97₹982.7761
Dividend Discount
Gordon GGM₹70.60₹128.32₹177.9768
DDM Multi-Stage₹70.60₹116.68₹136.9567
Multiples
P/E Multiple₹789.41₹1,053₹1,31663
P/B Multiple₹1,058₹1,411₹1,76355
Asset-Based
NCAV (Graham)₹235.10₹315.03₹470.1954
Growth DCF
Growth DCF₹302.26₹515.70₹826.8877
Rev-Margin DCF₹423.07₹797.52₹1,28371
Economic Profit
Residual Income₹426.99₹495.67₹690.8176
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+4.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Start year 2021 (pandemic). Over 10 years: +12.9% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.8% vs 15.3%, slowing
Profit margin 2005 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 18%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+45.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +39.8% a year for the price and +5.9% for the forecasts.
AI conclusion: Strong revenue growth in chemicals and performance films plus new capacity for EV demand forms SRF's main strength, while thin evidence across all categories and low-confidence assessments remain its central weakness.
Main risk: Chinese producers supply chemicals and refrigerants at lower prices which could erode SRF export margins and competitiveness in its chemicals business.
Bull case: SRF could leverage its R&D pipeline and new battery foil capacity to shift toward higher-value differentiated products and reduce exposure to commodity chemical cycles.
Bear case: Persistent low-price competition from Chinese suppliers combined with stricter regulations might compress margins across chemicals and limit growth in core segments despite capex.
SRF reports strong revenue growth across chemicals and performance films while approving a new battery-grade aluminium foil plant targeting EV and energy storage demand. Our models see the stock as overvalued. Will the capex and reaffirmed chemicals guidance drive sustainable margin recovery, or will input costs and execution timelines limit the upside?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Conglomerates · 304 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−37.2% · Bottom 25%
Profitability
Return on equity (12 months)16.0% · Top 25%
Return on assets7.6% · Top 25%
Net margin (12 months)12.5% · Above median
Operating margin (12 months)15.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)34.7% · Top 25%
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.14× · Below median
Valuation Multiplesvs Conglomerates median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "SRF Limited Fair Value". https://www.fairvalue-calculator.com/stock/SRF
Frequently asked questions
Is SRF Limited (SRF) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ₹1,544 versus a price of ₹2,460, about 37% lower (overvalued).
What is the fair value of SRF?
Our model-based fair value for SRF Limited is ₹1,544 (as of Nov 7, 2026), built from audited fundamentals. The current price: ₹2,460.
What is the quality score of SRF?
SRF Limited has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SRF Limited (SRF)?
Our model-based price target is the fair value of ₹1,544 (as of Nov 7, 2026) from 13 valuation models. Cautious scenario ₹768.58, optimistic scenario ₹2,368. It is a calculation from audited fundamentals, not an analyst target.
What is the SRF Limited stock forecast for 2026?
Our models put fair value at ₹1,544, about 37% lower versus a price of ₹2,460 (overvalued). Cautious scenario ₹768.58, optimistic scenario ₹2,368. The calculation is refreshed regularly with new filings.
What is the revenue of SRF Limited (SRF)?
SRF Limited reported trailing-twelve-month revenue of about ₹183B (latest available figure, as of Nov 7, 2026).
Does SRF Limited pay a dividend?
SRF Limited currently shows a dividend yield of 0.37% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of SRF Limited (SRF) and when is the ex-dividend date?
SRF Limited pays a dividend of ₹9.00 per share a year, a dividend yield of 0.4%. The last ex-dividend date was Jul 28, 2026. A dividend has been paid every year since at least 2004. The payout ratio is 11.8% of earnings. Free cash flow covers the dividend 2.77 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into SRF Limited (SRF)?
For today's price to be fair in a discounted-cash-flow model, SRF Limited would have to grow free cash flow by +45.6 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.9 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of SRF use?
Our models discount SRF Limited at 10.9 %: a base by market capitalisation (mid), damped by beta 0.16, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SRF Limited that is +45.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has SRF Limited (SRF) delivered so far?
Over the past 5 years revenue at SRF Limited grew +12.9 % a year. The price currently implies free-cash-flow growth of +45.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SRF Limited (SRF) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into SRF Limited (+45.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SRF Limited (SRF)?
The free-cash-flow yield on the price is 1.01 %: that much free cash flow SRF Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SRF Limited (SRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SRF Limited it is ₹1,544 per share (as of Nov 7, 2026), against a price of ₹2,460. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is SRF Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, SRF trades above its calculated fair value: price ₹2,460, fair value ₹1,544, a gap of about −37% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SRF?
No. The price is what the market pays today (₹2,460); the fair value is what the company's own numbers justify (₹1,544). For SRF Limited the two are ₹915.98 per share apart. That gap is exactly why we show both numbers side by side.
How much is SRF Limited worth?
The market values SRF Limited at about ₹729B (market capitalisation, as of Nov 7, 2026). Per share that is ₹2,460; our models calculate a fair value of ₹1,544 per share.
What do the bullish and bearish scenarios say about SRF?
Our models span a range for SRF Limited: cautious scenario ₹768.58, base ₹1,544, optimistic ₹2,368 per share (as of Nov 7, 2026, price ₹2,460). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SRF?
SRF Limited trades at a price-to-earnings ratio of 32.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,544 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2022 to 2026), reported earnings, FY2026 ex one-offs: 42.2. Other multiples: P/B 5.2, P/S 4.0, EV/EBITDA 17.3.
How solid is the balance sheet of SRF Limited (SRF)?
Balance-sheet figures for SRF Limited (as of Nov 7, 2026): return on equity 16.0%, debt of 0.14 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is SRF from its 52-week high?
SRF Limited trades at ₹2,460, about 21% below its 52-week high of ₹3,097 and 7% above the low of ₹2,305 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,544 is for.
Which stocks are comparable to SRF Limited?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, SGH Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SRF Limited stock attractive at the current price?
The data as of Nov 7, 2026: price ₹2,460, calculated fair value ₹1,544 (−37%), Quality Score 60/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SRF calculated?
We run SRF Limited through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of ₹1,544 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. SRF Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SRF Limited (SRF)?
The closing price on Nov 6, 2026 was ₹2,460. Our model-based fair value is ₹1,544, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SRF Limited right now?
The price sits above even our optimistic bull case (₹2,368). The favourable scenario is already priced in. The model range is unusually wide (₹768.58 to ₹2,368). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of SRF Limited (SRF) come from?
Earnings per share at SRF Limited grew +14.7 % a year from 2015 to 2026. Broken into its drivers: revenue per share +13.0 %, EBIT margin −1.4 %, tax rate +0.2 %, residual (interest, one-offs) +2.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of SRF Limited
How large is the market capitalisation of SRF Limited (SRF)?
The market capitalisation of SRF Limited is ₹729B (≈ $7.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SRF Limited (SRF)?
The price-to-sales ratio of SRF Limited is 3.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SRF Limited (SRF)?
Earnings per share at SRF Limited are ₹76.52 (price ÷ EPS = P/E 32.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SRF Limited (SRF)?
The dividend yield of SRF Limited is 0.4% (payout 11.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SRF Limited (SRF)?
The net margin of SRF Limited is 12.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SRF Limited (SRF)?
The return on equity (ROE) of SRF Limited is 16.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SRF Limited (SRF)?
On an EBIT basis the return on assets of SRF Limited is 25.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SRF Limited (SRF)?
The operating margin of SRF Limited is 15.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SRF Limited (SRF)?
Revenue at SRF Limited is growing +34.7% versus a year earlier (3y avg +1.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SRF Limited (SRF)?
Earnings per share at SRF Limited are growing +31.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SRF Limited (SRF) carry?
The net debt of SRF Limited is ₹44.7B (fiscal year 2026, ≈ 6.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026