This multibagger stock was trading at Rs 2.06 on January 1, 1999.
Since then, this stock has gained 126,351.46 percent.
SRF Company also gave bonus shares on 13 October 2021.
New Delhi. SRF Limited Share, which is traded in 75 countries, has given bumper returns to investors in the long term. In the year 1999, the share price of the company was Rs 2.06, which has now become Rs 2,604.90. Market experts say that the stock of SRF Limited will now give more profit to the investors. This is the reason why brokerage firm Sharekhan has given it a buy rating.
SRF Ltd. manufactures Fluorochemicals, Specialty Chemicals, Packaging Films, Technical Textiles, Coated Fabrics and Laminated Fabrics. It is a large cap company and has a market capitalization of Rs 77,159.38. In the last 23 years, this stock has made investors very happy.
Multibagger returns given in 23 years
According to a report in Live Mint, the stock of SRF Limited closed 2.30 percent down at Rs 2,604.90 on Friday. This multibagger stock was trading at Rs 2.06 on January 1, 1999. Since then, this stock has gained 126,351.46 percent. If someone had invested Rs 1 lakh in this stock in 1999, he would have got 48,543 shares at that time. The company also gave bonus shares on 13 October 2021.
The company had given bonus shares in the ratio of 4:1. After the bonus share, the investor who invested Rs 1 lakh in 1999 had 1,94,172. If we look at today’s SRF share price, then the value of 1,94,172 shares has now become Rs 50.67 crore.
Good growth in the first quarter
The Gross-Operating Revenue of SRF Ltd. on a consolidated basis stood at Rs 3,894.7 crore in the first quarter of FY 2023, an increase of 44.3 per cent over the same quarter last year. Similarly, the EBITDA of the company has increased by 51.8 percent to Rs 678.2 crore on an annual basis. In the financial year 2023, the company’s profit after tax has also increased by 53.8 percent on a yearly basis to Rs 608 crore.
What should I invest?
Brokerage firm Sharekhan says that the stock of SRF Limited can give good profits to the investors even further. The brokerage says that the focus of the company management is on the chemical segment. The company intends to spend Rs 12,500 crore in this segment in the next 5 years. Sharekhan says that there is a lot of growth potential in the chemical business, which will benefit the company. Giving buy rating to SRF share, Sharekhan has given its target price of Rs 2,960.
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FIRST PUBLISHED : September 05, 2022, 10:46 IST