SRF Share Price in Focus After Clarification on US Refrigerant Gas Price Hike

Shares of SRF, a leading speciality chemicals manufacturer, are in the spotlight today on January 10, after the company issued a clarification regarding reports of a significant price hike by a US-based refrigerant gas distributor. In a regulatory filing, SRF clarified that the reported price increase pertains exclusively to the US market and does not directly impact its operations.

Clarification on US Market Impact

In its filing to the stock exchanges, SRF emphasised that price adjustments for refrigerant gases in its relevant market segments are driven by local supply-demand dynamics rather than external factors in the US. The company stated:

“The company considers it necessary to clarify to the Stock Exchanges that the reported price hike by a US refrigerant gas distributor is in the context of the US market. Changes in prices of refrigerant gases for SRF will remain a function of demand and supply in our relevant market segment.”

Background on the US Price Surge

The clarification comes in response to reports of a steep price increase in the US for refrigerant gases. According to sources, US distributors have raised prices for certain refrigerants, with IGas USA reporting a price surge of up to 200% for gases such as R32 and R125. This sharp rise is attributed to supply chain disruptions affecting these products.

SRF Share Reaction React to News

On January 10, 2025, SRF share price traded 3.56% lower at ₹2,577 at 9:48 AM (IST), while the BSE benchmark Sensex plunged 230.35 points to 77,389.86. SRF share price reached a 52-week high of ₹2,697.45 on May 03, 2024, and a 52-week low of ₹2,088.55 on June 04, 2024. As per BSE, the total traded volume for the stock stood at 0.25 lakh shares with a turnover of ₹6.40 crore.

At the current price, SRF shares are trading at a price-to-earnings (P/E) ratio of 67.42x, based on its trailing 12-month earnings per share (EPS) of ₹39.64, and a price-to-book (P/B) ratio of 7.27, according to exchange data.

Shareholding Details

As of September 30, 2024, Foreign Institutional Investors (FIIs) held an 18.30% stake in Zomato shares, while Domestic Institutional Investors (DIIs) owned 17.76%, and the promoters held 50.26%.

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