SRF Limited (NSE:SRF), a diversified specialty chemicals and polymer films company, reported unaudited standalone and consolidated financial results for the quarter ended 30 June 2026 on 22 July 2026. The Board approved both sets of results at a meeting held on that date. Standalone net profit after tax (PAT) stood at Rs 566.30 crore, compared to Rs 397.00 crore in the same quarter of the prior financial year, representing a year-on-year increase of 42.7 percent.
Key Highlights
- Standalone net profit after tax for Q1 FY27 reached Rs 566.30 crore, up 42.7% from Rs 397.00 crore in Q1 FY26, representing a significant year-on-year improvement.
- Standalone revenue from operations increased to Rs 3,801.97 crore in Q1 FY27 from Rs 3,040.17 crore in Q1 FY26, a growth of 25.0% year-on-year.
- Profit before tax for Q1 FY27 stood at Rs 759.59 crore versus Rs 532.99 crore in Q1 FY26, up 42.5% year-on-year, demonstrating improved operational performance.
- Basic and diluted earnings per share (EPS) for Q1 FY27 were Rs 19.10 each, compared to Rs 13.39 per share in Q1 FY26, an increase of 42.7%.
- Total comprehensive income for the quarter reached Rs 670.95 crore, benefiting from a gain of Rs 144.94 crore on effective portion of hedging instruments in a cash flow hedge.
- The Chemicals Business segment generated Rs 2,244.18 crore in segment revenue with a segment result of Rs 614.91 crore, the largest contributor to overall performance.
- Net worth as at 30 June 2026 stood at Rs 13,354.52 crore, reflecting accumulated retained earnings and improved equity position during the period.
About the Company
SRF Limited (NSE:SRF) is a Gurugram-headquartered specialty chemicals and polymer films manufacturer with a diversified portfolio spanning three core business segments. The Technical Textiles Business produces high-performance coated fabrics and textiles for industrial and consumer applications. The Chemicals Business manufactures refrigerants, fluorochemicals, and specialty chemicals for air conditioning, foam blowing, and pharmaceutical sectors. The Performance Films and Foil Business produces specialty films, laminates, and metal foils for flexible packaging and industrial applications. SRF operates manufacturing facilities across India and maintains a registered office in Delhi. The company is listed on the National Stock Exchange (NSE) under the ticker SRF and on the Bombay Stock Exchange (BSE) with scrip code 503806.
Announcement in Detail
The Board of Directors of SRF Limited, in its meeting held on 22 July 2026, considered and approved the unaudited standalone financial results for the quarter ended 30 June 2026 along with a limited review report issued by statutory auditors BSR & Co. LLP. Standalone revenue from operations reached Rs 3,801.97 crore in Q1 FY27 against Rs 3,040.17 crore in the corresponding quarter of FY26. The revenue growth was driven across all three business segments, with the Chemicals Business contributing Rs 2,244.18 crore, Performance Films and Foil Business generating Rs 856.08 crore, and Technical Textiles Business accounting for Rs 596.84 crore of segment revenue.
On the profitability front, standalone profit before tax for Q1 FY27 was Rs 759.59 crore compared to Rs 532.99 crore in Q1 FY26. The company incurred a total expense of Rs 3,081.66 crore against a total income of Rs 3,841.25 crore. Cost of materials consumed represented the largest expense item at Rs 1,887.08 crore, followed by power and fuel at Rs 335.03 crore and other expenses at Rs 395.21 crore. The tax expense for the quarter, comprising current tax and deferred tax, amounted to Rs 193.29 crore (current tax of Rs 167.10 crore plus deferred tax of Rs 26.19 crore). The consolidated financial results were also approved by the Board, though specific consolidated figures are not detailed in this announcement summary.
The statutory auditors' limited review report, issued by BSR & Co. LLP under Standards on Review Engagements (SRE) 2410, confirmed that nothing came to their attention to suggest the standalone financial results were not prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34, or that they contained material misstatement. The Board also noted that the figures for the quarter ended 31 March 2026, as disclosed in the statement, represent balancing figures between audited annual results and published year-to-date figures, with the Q3 prior year figures having been reviewed but not audited.
Impact on Investors
Investors will note that the significant year-on-year growth in both revenue and profitability indicates strengthened operational performance in the base chemicals and specialty films operations. The 42.7% increase in standalone PAT to Rs 566.30 crore reflects both higher sales volumes and improved operational leverage. The earnings per share metric, standing at Rs 19.10 for the quarter, provides a comparable baseline for those tracking per-share profitability trends. The filing shows that the Chemicals Business segment, which accounted for Rs 2,244.18 crore of segment revenue, remains the dominant earnings driver with a segment result of Rs 614.91 crore. The consolidated financial results approval alongside standalone results indicates the company's overall financial health, though the specific impact of any subsidiaries or joint ventures is not separately disclosed in this announcement.
The disclosed financial position also shows a net worth of Rs 13,354.52 crore as at 30 June 2026, an improvement from Rs 12,679.53 crore as at 31 March 2026, reflecting retained earnings contribution to the equity base. Other comprehensive income of Rs 104.65 crore, driven primarily by a gain on hedging instruments of Rs 144.94 crore net of tax impact, indicates active currency and commodity hedging activities. Investors should note that this gain is classified as an item that will be reclassified to profit or loss and represents non-operating valuation adjustments. The finance cost of Rs 50.18 crore for the quarter reflects the company's debt obligations, and the burden relative to operational profit should be monitored in the context of future leverage and working capital requirements.
Sector / Market Context
The specialty chemicals sector in India, encompassing refrigerants, fluorochemicals, and performance polymers, has historically benefited from demand across cooling, packaging, and industrial applications. SRF's three-segment model positions the company across diverse end markets including automotive air conditioning, flexible packaging for food and consumer goods, and industrial textiles. The Chemicals Business, contributing approximately 59% of Q1 FY27 segment revenue at Rs 2,244.18 crore, serves refrigerant and foam-blowing markets influenced by seasonal demand patterns and global refrigerant regulations including phasedown of hydrochlorofluorocarbon (HCFC) substances under the Montreal Protocol. The Performance Films and Foil Business, representing 22.5% of segment revenue at Rs 856.08 crore, operates in the flexible packaging space where growth tracks consumer goods and food processing activity. The Technical Textiles Business at Rs 596.84 crore of segment revenue serves industrial coatings and protective fabrics markets with more stable, infrastructure-dependent demand. The company's geographic footprint and multi-segment exposure provide diversification relative to single-product specialty chemical peers, a structural characteristic relevant to sector risk assessment.