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Informist, Tuesday, May 5, 2026

 

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--SRF Jan-Mar consol net profit INR 5.82 bln
--Analysts saw SRF Jan-Mar consol net profit at INR 5.63 bln 
--SRF Jan-Mar consol revenue INR 46.15 bln, not INR 45.32 bln 
--Analysts saw SRF Jan-Mar consol revenue at INR 43.06 bln
--SRF Jan-Mar consol net profit INR 5.82 bln vs INR 5.26 bln year ago 
--SRF Jan-Mar consol revenue INR 46.15 bln vs INR 43.13 bln year ago 
--SRF FY26 consol net profit INR 18.35 bln vs INR 12.51 bln year ago 
--SRF FY26 consol revenue INR 157.87 bln vs INR 146.93 bln year ago 
--SRF Jan-Mar consol chemical ops sales INR 24.48 bln vs INR 23.55 bln yr ago 
--SRF Q4 consol performance films ops sales INR 15.96 bln vs INR 14.12 bln 
--SRF Q4 consol technical textiles ops sales INR 4.83 bln vs INR 4.58 bln
--SRF Jan-Mar consol EBIT INR 10.11 bln vs INR 9.06 bln year ago 
--SRF Q4 chemicals ops operating profit INR 7.83 bln vs INR 7.48 bln yr ago 
--SRF Q4 performance films ops operating profit INR 1.54 bln vs INR 1.05 bln 
--SRF defers plans for INR 4.90-bln film mfg unit in Indore indefinitely 

 

By Ruchira Kagita

 

MUMBAI – SRF Ltd.'s top line and bottom line for the March quarter came in better than analysts' estimates. The company's consolidated net profit rose almost 11% on year to INR 5.82 billion, and its revenue for the period was up 7% year-on-year at INR 46.15 billion.

 

SRF's net profit was seen rising roughly 7% on year to INR 5.63 billion, while revenue for the period was estimated to fall a bit to INR 43.06 billion, according to the average of estimates from nine broking firms. Revenue growth during the March quarter was better than in the trailing two quarters. The net profit growth, however, was the lowest in five quarters.

 

The company's revenue growth in the March quarter was reined in by its chemicals business, which recorded a 4% increase to INR 24.48 billion from INR 23.55 billion a year ago. The chemicals business of SRF makes up the majority of its sales mix. The company's packaging business, meanwhile, posted better growth. Sales in company's second-biggest business rose 13% on year to INR 15.96 billion. 

 

SRF's exports declined in the quarter ended March, limiting revenue growth. The company's exports to West Asia were hit due the ongoing war between the US and Iran, Ashish Bharat Ram, the chairman and managing director of SRF, said in a press release. 

 

The company's fluorochemicals business performance for the reporting quarter was robust due to better realisations in hydrofluorocarbons and improved domestic and export volumes. Meanwhile, a rise in volumes and margins of biaxially oriented polyethylene terephthalate and biaxially oriented polypropylene supported its performance films and foil business. 

 

The company said its speciality chemicals business delivered a better performance in the March quarter compared to the December one. The improved performance was seen despite pricing pressure and deferred orders, the company added. 

 

SRF's overall consolidated operational earnings before interest and tax increased 12% on year to INR 10.11 billion. The chemicals business of the company recorded 5% year-on-year growth in its operating profit at INR 7.83 billion, while its packaging division reported a substantial 47% on-year surge in the March quarter to INR 1.54 billion. SRF's technical textiles business revenue in the March quarter was up 5% on year at INR 4.83 billion. 

 

The company's gains from fluctuations in the foreign exchange market in the March quarter surged nearly threefold to INR 1.26 billion from INR 451.2 million on the back of the rupee's depreciation. Meanwhile, its cost of raw materials increased almost 7% on year to INR 21.33 billion. During the quarter, the company's power and fuel prices went up almost 4% to INR 3.47 billion from INR 3.34 billion. 

 

On a consolidated basis, the chemicals manufacturer's total liabilities increased 13% on year to INR 34.61 billion as on Mar. 31. This was majorly on the back of a rise in liabilities from its packaging films segment. Liabilities for this division went up 18% year-on-year to INR 17.68 billion. The segment's assets increased almost 22% on year to INR 80.78 billion. 

 

For 2025-26 (Apr-Mar), SRF's consolidated net profit came in at INR 18.35 billion, up 47% from FY25 and its consolidated revenue rose around 7% to INR 157.87 billion from INR 146.93 billion. "...we remain confident about the path ahead, the prevailing geopolitical uncertainty continues to be a key concern," the chairman and managing director said. 

 

SRF indefinitely deferred its plans to set up a manufacturing unit for biaxially oriented polypropylene in Indore. The company had factored in capital outlay of INR 4.90 billion for this facility.

 

On Tuesday, shares of SRF closed around 1% lower at INR 2,522.80 on the National Stock Exchange. The company declared its results for the quarter and year ended March after market hours.  End

 

Edited by Avishek Dutta

 

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