India · Delayed Price · Currency is INR SRF Limited Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 delivered strong growth with revenue up 7%, EBIT up 29%, and PAT up 47% year-over-year, driven by robust performance in chemicals and resilience amid global disruptions. Outlook for FY 2027 targets 15%-20% growth in chemicals, with major CapEx and new product launches planned.
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Revenue grew 6% year-over-year with strong EBIT and net profit gains, led by chemicals and refrigerants. Specialty chemicals faced pricing pressure from Chinese competition, but a robust pipeline and new investments in pharma and next-gen gases support future growth. Dividend and major CapEx plans were announced.
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Q2 FY26 saw 6% revenue and 56% EBIT growth, led by strong chemicals and refrigerants performance, with robust new product launches and a strategic Chemours partnership. CapEx for FY26 is set at INR 2,200–2,300 crore, and the company expects to surpass 20% full-year chemicals growth.
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Q1 FY2026 saw robust revenue and profit growth, led by strong performance in chemicals, films, and foils, with new product launches and export gains offsetting domestic demand weakness. CapEx of INR 2,400–2,500 crore is planned, and guidance remains positive for FY2026.
Fiscal Year 2025
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Revenue grew 12% to INR 14,700 crore in FY25, with strong H2 and Q4 performance, though PAT declined 6%. Chemicals and performance films led growth, with 20% growth targeted for chemicals in FY26 and CapEx set to rise. Margin guidance remains robust at 25–26%.
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Q3 FY 2025 saw 14% YoY revenue growth, margin recovery, and strong chemicals and packaging films performance. Outlook for Q4 and FY 2026 is positive, with new product ramp-ups and robust CapEx plans. Export sales remain strong, but currency and pricing pressures persist.
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Q2 FY25 saw 8% YoY revenue growth but weak chemical segment performance due to subdued agro demand and Chinese competition. Management expects a strong recovery in H2, with new product launches, major CapEx in advanced refrigerants and packaging, and improved order book supporting future growth.
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Q1 FY2025 saw revenue of INR 3,464 crore and profit after tax of INR 252 crore, with chemical segment revenues down 11% YoY due to weak agrochemical demand. Management expects a strong H2 recovery, driven by new product launches and ramp-up of recent projects.