Need more information. the output of errpt would be good, and also the output to the console during boot (alog -o -t boot).
In any case be sure srcmstr is being called from inittab. My inittab start with the following lines - pretty standard stuff to here.
init:2:initdefault:
brc::sysinit:/sbin/rc.boot 3 >/dev/console 2>&1 # Phase 3 of system boot
powerfail::powerfail:/etc/rc.powerfail 2>&1 | alog -tboot > /dev/console # Power Failure Detection
load64bit:2:wait:/etc/methods/cfg64 >/dev/console 2>&1 # Enable 64-bit execs
tunables:23456789:wait:/usr/sbin/tunrestore -R > /dev/console 2>&1 # Set tunables
rc:23456789:wait:/etc/rc 2>&1 | alog -tboot > /dev/console # Multi-User checks
fbcheck:23456789:wait:/usr/sbin/fbcheck 2>&1 | alog -tboot > /dev/console # run /etc/firstboot
srcmstr:23456789:respawn:/usr/sbin/srcmstr # System Resource Controller
rctcpip:23456789:wait:/etc/rc.tcpip > /dev/console 2>&1 # Start TCP/IP daemons
