SRF Ltd shares rose 0.8% to ₹2,789.35 per share in the latest trading session, demonstrating positive market response to Motilal Oswal's bullish recommendation. The stock gained from its previous closing price of ₹2,764.55, reflecting investor confidence in the brokerage's growth outlook. With a market capitalisation of ₹81,635.40 crores, SRF continues to attract investor attention following the latest target price assignment.
Motilal Oswal Financial Services has reiterated a 'Buy' rating on SRF Ltd. with a target price of ₹3,350, implying an upside of nearly 21% from the current market price of ₹2,766. According to the brokerage's latest research report dated June 24, 2026, FY26 was characterized by a volatile and uncertain global environment with geopolitical tensions in the Middle East disrupting trade flows and supply chains. Despite these macroeconomic headwinds, the company successfully navigated the environment through disciplined execution, operational excellence and continued strategic investments across its businesses. The Fluorochemical segment delivered a record performance in FY26, driven by strong demand, improved realizations, and high-capacity utilization.
Motilal Oswal expects SRF to deliver a CAGR of 14%/20%/22% in revenue/EBITDA/adjusted PAT over FY26-28, with the company positioned to benefit from rising AC demand, PTFE ramp-up, higher HFC capacities, and the commissioning of the specialty polymer plant. Growth is expected to be supported by ongoing capacity expansions, ramp-up of recently commissioned plants, strategic investments, continued focus on innovation and market recovery. The brokerage reiterates its Buy rating on the stock with their SoTP-based target price of ₹3,350, reflecting confidence in the company's ability to capitalise on its strong market position and strategic initiatives.
SRF's fluorochemicals division delivered exceptional growth of nearly 60% year-over-year in FY26, setting a record performance milestone. Strong demand for refrigerant gases across both domestic and international markets, coupled with better realisations and higher volumes, significantly contributed to the segment's profitability. The fluorochemicals business has emerged as the company's strongest growth driver, with revenue increasing by about 60% year-over-year in FY26 and continuing to support the company's growth trajectory as a significant profit generator.
SRF is investing over ₹2,300 crore in next-generation Hydrofluoroolefin (HFO) refrigerants, positioning the company to capitalise on the global shift toward environmentally benign refrigerants. This investment represents a strategic move to boost SRF's leadership in the fluorochemicals industry and provide a substantial long-term income stream. The company continued to invest in next-generation refrigerants, capacity expansions, and specialty polymers to strengthen its product portfolio and integration, with the technology serving as a crucial component of SRF's next stage of expansion.
