SRF

June 30 (Reuters) - SRF Ltd SRFL.NS:

• SRF - REAPPOINTS KARTIK BHARAT RAM AS JOINT MANAGING DIRECTOR

Source text: ID:nNSE2SR5Pn

Further company coverage: SRFL.NS

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** HSBC initiates coverage on India's chemicals maker SRF SRFL.NS with a "buy" rating, betting that improving fundamentals in specialty chemicals and performance films will reignite earnings momentum

** Brokerage sets a target price of 3,390 rupees, implying 21.9% upside over the next 12 months from the stock's May 8 close of 2,780.80 rupees

** Expects SRF to deliver a 26% earnings CAGR over FY27-FY29, powered by better sector dynamics

** Specialty chemicals are seen as the main growth engine, helped by normalizing global pesticide inventories, China's anti-involution policy measures, new active-ingredient launches and a rising pharma mix

** HSBC expects pharma's share to climb to 20% from 10% over the medium term, aiding SRFL's earnings

** Refrigerant gases remain a pressure point, with elevated competition and oversupply risks

** Still, HSBC says much of that concern is priced in after SRFL's 10% year-to-date fall

** LSEG data show 28 analysts rate the stock "hold" on average, with a median target of 3,172 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

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May 5 (Reuters) - SRF Ltd SRFL.NS:

• SRF LTD - APPROVED AN ENHANCED CAPITAL OUTLAY OF 22.85 BILLION RUPEES FOR FACILITIES FOR FOURTH-GENERATION REFRIGERANTS

• SRF LTD - PROJECT IS EXPECTED TO BE COMPLETED BY FEBRUARY 28, 2028

Further company coverage: SRFL.NS

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April 7 (Reuters) - SRF Ltd SRFL.NS:

• INCOME TAX DEPARTMENT ISSUES FINAL ASSESSMENT ORDER ADDING 305.4 MILLION RUPEES TO TAXABLE INCOME

Source text: ID:nNSEbC5JWj

Further company coverage: SRFL.NS

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Feb 13 (Reuters) - Chemicals maker BASF India BASF.NS reported a 1.5% rise in third-quarter profit on Friday, helped by modest demand for specialty chemicals.

Germany's BASF BASFn.DE India unit said its profit rose to 1.05 billion rupees ($11.6 million) from 1.04 billion rupees a year earlier.

The company posted a 6.8% increase in sales.

Revenue from its materials segment — which includes the performance materials and monomers businesses — edged up 0.88%, while sales in its agricultural solutions unit, which sells fungicides such as Priaxor and Merivon, fell 11.7%.

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KEY CONTEXT

The Indian specialty chemicals sector is poised for modest demand growth in the reported quarter, according to analysts.

Despite lingering global headwinds and continued inventory destocking in end‑use segments such as agrochemicals and pharmaceuticals, companies in the chemicals sector are still expected to post low-single‑digit revenue growth.

Growth is supported mainly by steady domestic consumption and a slow recovery in select export markets.

This stability is being driven by sustained volumes in high‑margin product categories and incremental boosts from new capacity additions.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER PERFORMANCE

-- All data from LSEG

-- $1 = 90.7160 Indian rupees

(Reporting by Yagnoseni Das in Bengaluru; Editing by Harikrishnan Nair)

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Jan 22 (Reuters) - SRF Ltd SRFL.NS:

• SRF LTD - GETS CUSTOMS DUTY AND PENALTY IMPOSED TOTALING 384.9 MILLION RUPEES

Source text: ID:nNSE2QPDxQ

Further company coverage: SRFL.NS

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** Shares of SRF SRFL.NS extends fall, down 4.5% to 2,752 rupees, its lowest since April 9, 2025

** Stock on track for sixth straight session of losses

** Indian chemicals conglomerate's third-quarter missed revenue view, weighed by weak demand for its specialty chemicals

** However, co's third-quarter profit jumped nearly 60%, helped by a tax provision write-back of 991.2 million rupees

** Brokerage UBS says SRF's medium‑term growth looks constrained due to elevated refrigerant prices, continued Chinese pricing pressure, ongoing weakness in agri‑chem, and management abandoning its 20% specialty‑chem growth target

** SRFL rated "hold" on avg by 26 analysts covering it; median PT at 3272 rupees- data compiled by LSEG

** In 2025, SRFL gained 37%

(Reporting by Urvi Dugar and Komal Salecha in Bengaluru)

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Jan 20 (Reuters) - SRF Ltd SRFL.NS:

• SRF LTD - APPOINTS SAMIR KASHYAP AS PRESIDENT & CFO

Source text: ID:nBSE86sTBr

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By John Revill

ZURICH, Jan 6 (Reuters) - Venezuela transported gold worth almost 4.14 billion Swiss francs ($5.20 billion) to Switzerland during the early years of the leadership of ousted President Nicolas Maduro, customs data shows.

The South American country sent 113 metric tons of the precious metal to Switzerland from 2013 - when Maduro took office - to 2016, according to data reviewed by Reuters.

The gold originated from Venezuela's central bank, Swiss broadcaster SRF said, at a time when the government was selling down gold to support its economy.

There were no gold exports from Venezuela to Switzerland from 2017, when EU sanctions were imposed, to 2025, customs data showed.

Maduro was seized by U.S. special forces in a raid in Caracas on January 3, and faces charges in a New York court including drug trafficking and narco-terrorism.

On Monday, Switzerland ordered the freezing of assets held in the country by Maduro, and 36 associates, but did not give any information on possible value or source of such funds.

It is unknown if there is any link between any such assets and gold transferred from the central bank.

The gold, from Venezuela's reserves, was likely transferred to Switzerland for processing, certification and onward transport, SRF reported.

Switzerland is one of the world's biggest centres for gold refining, with the country hosting five large refineries.

The central bank of Venezuela has sold down its gold reserves to support the country's economy and raise hard currency in the face of U.S. sanctions.

"There was big distress selling by the Venezuelan central bank from 2012 to 2016. A lot of this will have come to Switzerland," said Rhona O'Connell, a markets analyst at StoneX.

"Thereafter it could have stayed with counterparties in the financial sector, or sold as small bars to Asia, or anywhere in the world."

The gold exports to Switzerland fell to zero in 2017 when the European Union sanctioned various Venezuelan individuals accused of human rights violations or undermining democracy. Switzerland adopted the EU sanctions in early 2018.

The sanctions did not contain a general Swiss embargo on gold imports from Venezuela.

"There was probably a major drop-off in exports after because the Venezuelan central bank simply ran out of gold," said StoneX's O'Connell.

($1 = 0.7924 Swiss francs)

(Reporting by John Revill; Editing by Aidan Lewis)

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Dec 30 (Reuters) - SRF Ltd SRFL.NS:

• GETS TAX DEMAND FOR 157.6 MILLION RUPEES ALONGWITH INTEREST, PENALTY

Source text: ID:nBSE6rBgXy

Further company coverage: SRFL.NS

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** Shares of chemicals and polymers maker SRF SRFL.NS rise 2.4% to 3,118 rupees

** Brokerage Antique initiates coverage of the stock with a 'buy' rating, TP of 3,540 rupees

** Expects a 15%/36% revenue/PAT CAGR over FY25-28 led by a strong growth in the specialty chemicals segment

** Says co is a leader in refrigerant gases and has carved a niche in high-margin fluoro-specialty chemicals, backed by strong R&D and manufacturing capabilities

** Adds, integrated fluorination and production strengths, along with robust governance and sustainability practices, position it well for long-term growth

** Avg rating of 24 analysts covering the stock is "buy"; median PT is 3,114 rupees - data compiled by LSEG

** SRFL up 40% YTD

(Reporting by Urvi Dugar)

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July 30 (Reuters) - Chemicals maker BASF India BASF.NS reported a 33.3% slump in first-quarter profit on Wednesday, hurt by sluggish demand for agrochemicals.

The Indian arm of Germany's BASF BASFn.DE said profit fell to 1.47 billion rupees ($16.8 million), from 2.21 billion rupees a year earlier.

The company posted a 5.4% fall in overall sales.

For further highlights, click (Full Story)

KEY CONTEXT

Agrochemical companies faced weak demand in both Indian and overseas markets during the quarter, weighing on overall volume growth.

Analysts said the segment remained vulnerable to weaker crop prices in wholesale markets, especially for pulses, coarse grains, vegetables, and spices.

Still, they expect demand for agrochemicals, which include insecticides and pesticides, to pick up in the coming months, helped by a possible shift towards more normal weather and predictable rainfall compared to last year.

PEER COMPARISON

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG IBES

-- $1 = 87.3720 Indian rupees

(Reporting by Yagnoseni Das in Bengaluru; Editing by Harikrishnan Nair)

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** Shares SRF SRFL.NS of rise 2% to 3,200 rupees

** Chemicals and polymers maker posts a 71.4% Y/Y rise in June-qtr profit; rev from ops rises 4.9% Y/Y

** More than 911,195 shares change hands, 1.7x of 30-day avg

** SRFL rated "hold" by 25 analysts on average; median target price is 2,975 rupees – data compiled by LSEG

** Stock up 43% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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Adds details, quote from official

By John Revill and Marleen Kaesebier

ZURICH, June 25 (Reuters) - Switzerland is holding talks with the United States after Washington tried to raise the price of new fighter jets Bern is buying for its air force, the government said on Wednesday.

Bern chose Lockheed Martin's LMT.N F-35A Lightning II as its next-generation fighter plane in 2021, with a fixed price of around 6 billion Swiss francs ($7.4 billion) for 36 jets, a decision that attracted controversy in neutral Switzerland.

But the U.S. Joint Program Office overseeing the project said last year the price could be higher, and the U.S. Defense Security Cooperation Agency told Switzerland in February that the fixed price was a misunderstanding.

Switzerland was informed the price for the F-35s would be dearer because of higher raw materials and energy costs, as well as higher U.S. inflation, with the sum potentially increasing by $650 million to $1.3 billion, the government said.

"A contract is a contract," said Urs Loher, head of Swiss defence procurement agency Armasuisse. "With the procurement of the F-35A fighter aircraft, we're suddenly faced with a different reality, despite a clear fixed price."

As the agreement prevents a legal settlement of the dispute, a diplomatic solution must be sought, the government said.

Defence Minister Martin Pfister said talks were now under way with the U.S. authorities.

"We still believe we'll find a solution with the U.S. authorities because they also have an interest in being perceived as a reliable contractual partner," Pfister said, while as a last resort Switzerland could cancel the deal.

The decision to buy the F-35A was contested in Switzerland, with opponents arguing against replacing the country's aging F/A-18 jets with an unnecessary "Ferrari" option. Critics said Switzerland did not need cutting-edge warplanes to defend its territory, which a supersonic jet can cross in 10 minutes.

The F-35A beat bids from Boeing's F/A-18 Super Hornet, the Rafale produced by France's Dassault and the four-nation Eurofighter built by Italy's Leonardo, Britain's BAE Systems and Airbus representing Germany and Spain.

Still, Switzerland said it remained committed to the F-35A, and that cancelling the order would have serious consequences.

"Switzerland would no longer be able to guarantee the safety of its airspace and population from 2032, as the current F/A-18 fighter aircraft would reach the end of their service life," Pfister said.

($1 = 0.8067 Swiss francs)

(Reporting by John Revill. Editing by Aidan Lewis and Mark Potter)

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June 17 (Reuters) - SRF Ltd SRFL.NS:

• SRF LTD - GETS ORDER SETTING ASIDE TAX DEMAND OF 852.3 MILLION RUPEES

Source text: [ID:]

Further company coverage: SRFL.NS

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ZURICH, March 28 (Reuters) - Clients of Swiss bank PostFinance living in Cuba have in recent weeks received notifications that their accounts will be closed, Swiss public broadcaster SRF said on Friday, citing U.S. sanctions pressure on the Caribbean island.

SRF, which published what it said was a copy of a letter sent in March to one of the affected clients, did not explicitly state why the closures were ordered or how many customers were affected. But it said that PostFinance was systematically giving notice to customers with ties to Cuba.

PostFinance said in response to a Reuters query that some of the SRF report drew on speculation and that any possible termination of business ties was carefully reviewed in advance.

"Due to bank-client confidentiality, we cannot comment on the specific reasons that ultimately led to the termination of individual business relationships," the state-owned bank said.

SRF said the reason behind the steps was renewed tightening of U.S. economic sanctions against Cuba under U.S. President Donald Trump, without providing direct evidence.

In the letter the broadcaster published, the bank explained that the account concerned would be closed because the customer's profile "does not match PostFinance's business policy orientation."

On January 20, the day he returned to office, Trump revoked the Biden administration's last-minute decision to remove Cuba from the U.S. list of state sponsors of terrorism.

PostFinance said international sanctions are subject to constant change and that sanctions against Cuba are not new, but have also evolved over time. Thus PostFinance has consistently adapted its internal policy on the matter, it added.

The U.S. embassy in Switzerland did not immediately reply to a request for comment by Reuters.

(Additional reporting by Oliver Hirt; Writing by Dave Graham; Editing by Hugh Lawson)

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** Shares of specialty chemicals maker SRF SRFL.NS rise 2.4% to 2,833.9 rupees

** Emkay Research expects gradual pick up in specialty chemicals volume, driven by stabilization of existing products and incremental contribution from newer products

** Adds medium-term outlook remains strong, aided by firming up of refrigerant gas prices globally

** SRF well-positioned to benefit from agrochemical demand rebound, rising refrigerant prices with its specialty chemicals capex- Emkay

** New product launches in agrochemical and pharmaceutical segments to drive growth in FY26, say analysts at Systematix Institutional Equities

** Avg rating of 27 analysts is a "hold"; median PT is 2,698 rupees - LSEG data

** Stock has gained 24% so far this year

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 21 (Reuters) - SRF Ltd SRFL.NS:

• SRF LTD - COMMISSIONS REMAINING PART OF FLUOROCARBON REFRIGERANT GAS PROJECT

• SRF LTD - PROJECT COMMISSIONED AT AGGREGATE COST OF 3.61 BILLION RUPEES

Source text: ID:nBSED8YBQ

Further company coverage: SRFL.NS

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Feb 4 (Reuters) - SRF Ltd SRFL.NS:

• SRF LTD - GOT TAX DEMAND ORDER FOR 70 MILLION RUPEES, PENALTY OF 70 MILLION RUPEES

Source text: ID:nBSEQ89XR

Further company coverage: SRFL.NS

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** SRF Ltd's SRFL.NS shares rise 6% to 2,827 rupees, hitting their highest level since Sept. 2022

** The chemicals and polymers maker posted a Q3 net profit of 2.71 billion rupees, higher than the avg analyst expectation of 2.34 billion rupees, according to data compiled by LSEG

** The chemicals segment's revenue rose 7%, driven by strong refrigeration gas demand - Jefferies

** Stock sees most active session in three weeks, trading vols at 4x their 30-day avg

** SRFL up 26% so far in January

(Reporting by Nishit Navin)

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BENGALURU, Jan 29 (Reuters) - Diary of India economic, corporate events on Jan.29

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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Jan 17 (Reuters) - SRF Ltd SRFL.NS:

• GOT TAX DEMAND ORDER FOR 852.3 MILLION RUPEES

Source text: ID:nBSE257j8x

Further company coverage: SRFL.NS

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Jan 9 (Reuters) - SRF Ltd SRFL.NS:

• SRF - REPORT ON PRICE HIKE BY US REFRIGERANT GAS DISTRIBUTOR IS IN CONTEXT OF US MARKET

Source text: ID:nnAZN32GWMI

Further company coverage: SRFL.NS

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Dec 16 (Reuters) - Life Insurance Corporation of India LIFI.NS:

• LIC - INCREASED ITS STAKE IN SHARES OF SRF FROM 4.97% TO 5.00%

Source text: [ID:]

Further company coverage: LIFI.NS

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Oct 22 (Reuters) - SRF Ltd SRFL.NS:

• SRF Q2 CONSOL NET PAT 2.01 BILLION RUPEES; IBES EST. 2.93 BILLION RUPEES

• SRF Q2 CONSOL TOTAL REVENUE FROM OPERATIONS 34.24 BILLION RUPEES; IBES EST. 35.17 BILLION RUPEES

Further company coverage: SRFL.NS

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SRF Ltd SRFL.NS:

• SRF LTD- FIRST PHASE OF AGROCHEMICAL PROJECT COMMISSIONED AT DAHEJ AT 1.90 BILLION RUPEES

Source text for Eikon: ID:nBSE6pkKCw

Further company coverage: SRFL.NS

July 30 (Reuters) - SRF Ltd SRFL.NS:

• SRF - TAX DEPARTMENT RAISED DEMAND OF 7.6 MILLION RUPEES

Source text for Eikon: ID:nBSE7QYcYl

Further company coverage: SRFL.NS

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July 23 (Reuters) - SRF Ltd SRFL.NS:

• SRF Q1 CONSOL NET PAT 2.52 BILLION RUPEES

• SRF Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 34.64 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SRFL.NS

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July 16 (Reuters) - SRF Ltd SRFL.NS:

• TO CONSIDER ISSUE OF NON-CONVERTIBLE DEBENTURES WORTH UPTO 7.5 BILLION RUPEES

Source text for Eikon: ID:nBSE9LFspf

Further company coverage: SRFL.NS

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