SRF Shares Rally Despite Below-Estimate Q3 Results; Declares Interim Dividend

SRF embarked on a positive trajectory in the Wednesday (January 31, 2024) trading session, showing resilience despite the multi-business chemicals conglomerate reporting below-estimate results a day earlier. The company witnessed a 50 percent decline in consolidated profit, and its revenue from operations also slipped by 12 percent YoY.

In a strategic move, SRF declared an interim dividend of 36%, amounting to Rs. 3.60 per share on the paid-up equity share capital, on Tuesday. The record date for the dividend is set for February 7, 2024, Wednesday, with the dividend scheduled for payment on February 28, 2024, Wednesday.


While acknowledging the current challenges, the company expressed optimism about an improved performance in the chemicals business during the January-March quarter. SRF is confident of achieving a significantly improved overall performance in Q4.

As of 1:41 pm, SRF shares continued their positive momentum, trading 3.95 percent higher at ₹2,310.05.