📈 Live Market Tracking
Every NSE and BSE corporate filing, read and explained by AI within minutes — impact, key figures, short/long-term view and what to watch.
Live · AI analyzer runs every 5 min (07:00–23:55 IST)
Latest filing: 2026-10-01 18:27
444 analysed today
FollowTelegram
444
Today
149,845
All-time analysed
42,954
Positive
6,669
Negative
91,525
Neutral
8,629
Watch
📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
29 announcements match the current filters (relevance ≥ 5).
SRF Receives ₹266.32 Cr GST Show Cause Notice on Input Tax Credit Disallowance
SRF Limited has received a show cause notice from the Additional Commissioner, CGST & Central Excise, Vadodara-II Commissionerate, dated September 29, 2026. The notice proposes the disallowance of Input Tax Credit (ITC) aggregating to ₹266.32 crore for FY 2022-23 and FY 2023-24 due to mismatches between filed returns and auto-generated portal statements, along with applicable interest and penalties. The disputed amount represents approximately 1.57% of SRF's TTM revenue of ₹17,001 crore and 12.3% of its TTM PAT of ₹2,162 crore. SRF stated that the allegations are legally untenable and intends to contest the notice, expecting no adverse financial impact.
Confidence: HIGH
What changedCGST authorities have issued a show cause notice proposing disallowance of ₹266.32 crore in Input Tax Credit for FY23 and FY24.
Why it mattersWhile SRF views the demand as unsustainable, an adverse adjudication could result in a one-time cash outflow/provision of ₹266.32 crore plus interest and penalties (~12.3% of TTM PAT).
Disputed ITC amount: ₹266.32 croreDisputed amount vs TTM revenue: ~1.57%Disputed amount vs TTM PAT: ~12.3%Notice date: September 29, 2026
📅 Short termThe announcement may create minor neutral-to-cautious sentiment pending legal clarification, though it is currently only at the show cause notice stage.
📈 Long termLimited structural impact on core chemical manufacturing operations, provided tax disputes are resolved through legal and appellate processes without major penalties.
⚠ Risk flags
- Potential tax demand crystallization of ₹266.32 crore plus interest and penalties if legal defense fails.
- Extended litigation and appellate timelines common in GST ITC mismatch disputes.
Key Highlights
Received GST show cause notice dated September 29, 2026, under Section 73 of the CGST Act, 2017.
Disallowance of Input Tax Credit (ITC) aggregating to ₹266.32 crore proposed.
Pertains to ITC claims for FY 2022-23 and FY 2023-24 based on portal mismatches.
Demand includes proposed GST recovery along with applicable interest and penalty.
Company plans to contest the notice before the appropriate legal forum, maintaining it is not sustainable.
👀 What to Watch
Track the submission of the company's reply to the GST authorities and monitor whether the show cause notice materializes into an official demand order or is dropped.
₹318 Cr Reduction in Tax Demand for AY 2022-23 Following Rectification
SRF Limited has successfully contested a significant tax demand for Assessment Year 2022-23. The Income Tax Department has issued a rectification order reducing the demand from ₹327.44 crore to just ₹9.46 crore. This reduction of ₹317.98 crore resolves a potential liability that represented approximately 17.3% of the company's TTM PAT (₹1,836 crore). The company is now evaluating legal recourse for the remaining ₹9.46 crore balance.
Confidence: HIGH
What changedA previously disclosed tax demand of ₹327.44 crore has been corrected and reduced by over 97% following a rectification application.
Why it mattersThe resolution prevents a substantial cash outflow and removes a significant contingent liability that could have impacted the company's bottom line and investor sentiment.
Original Tax Demand: ₹327.44 croreRevised Tax Demand: ₹9.46 croreReduction vs TTM PAT: ~17.3%Assessment Year: 2022-23
📅 Short termThe news is likely to be viewed positively by the market as it clears a major legal uncertainty and potential financial hit.
📈 Long termLimited structural impact as this was a one-time tax rectification regarding a technical error rather than a change in business operations.
Key Highlights
Tax demand for AY 2022-23 reduced from ₹327.44 crore to ₹9.46 crore
Total reduction in potential liability amounts to ₹317.98 crore
The reduction represents approximately 17.3% of the company's TTM PAT of ₹1,836 crore
The original demand was attributed to a technical error in the initial assessment order
Company is analyzing the remaining ₹9.46 crore for further legal action
👀 What to Watch
Investors should note the resolution of this significant tax overhang, which improves financial clarity. No further immediate action is required as the remaining amount is immaterial relative to the company's ₹78,970 crore market cap.
SRF Q1 FY27 PAT Jumps 75.5% to ₹758.9 Cr with Strong Margin Expansion
SRF reported a robust Q1 FY27 with consolidated revenue growing 31.8% YoY to ₹5,033.3 Cr. Profit After Tax (PAT) surged 75.5% to ₹758.9 Cr, driven by a significant expansion in EBITDA margins from 22.3% to 27.3%. The Performance Films & Foil segment saw the highest growth, with EBIT rising 149.4% YoY, while the core Chemicals business maintained steady margins at 27.6%. The company continues its high R&D focus with 528 patent applications to date.
Confidence: HIGH
What changedSRF has transitioned from a period of margin pressure to significant profitability growth, with PAT nearly doubling YoY in Q1 FY27.
Why it mattersThe results demonstrate SRF's ability to navigate global supply chain volatility and Chinese dumping pressures, particularly through its diversified portfolio and high-end specialty chemical focus.
Q1 FY27 Revenue: ₹5,033.3 CrPAT Growth (YoY): 75.5%EBITDA Margin: 27.3%Chemicals EBIT Margin: 27.6%Net Debt to EBITDA: 1.02
📅 Short termThe stock is likely to react positively in the short term due to the sharp beat in PAT and significant margin expansion across all segments.
📈 Long termStructural growth remains intact driven by high R&D focus (528 patents) and expansion into high-value fluoropolymers and aluminum foils, supported by a healthy debt-to-equity ratio of 0.27.
⚠ Risk flags
- Continued pricing pressure from Chinese players in specialty chemicals
- Geopolitical tensions disrupting global supply chains
- Volatility in raw material costs
Key Highlights
Consolidated Revenue increased 31.8% YoY to ₹5,033.3 Cr in Q1 FY27
EBITDA grew 61.4% YoY to ₹1,372.6 Cr, with margins improving by 500 bps to 27.3%
Performance Films & Foil EBIT surged 149.4% to ₹349.7 Cr compared to ₹140.2 Cr in Q1 FY26
Technical Textiles EBIT grew 186.4% to ₹107.8 Cr, benefiting from demand recovery and inventory gains
Chemicals business maintained a healthy EBIT margin of 27.6% despite pricing pressure from Chinese players
👀 What to Watch
Investors should monitor the ramp-up of the new PTFE capacity and the execution of the Odisha capex project. Key to watch is whether the margin recovery in Performance Films is sustainable or driven by temporary inventory gains.
Rs 5 per share: SRF declares 1st Interim Dividend for FY27; Record Date July 28
SRF Limited has declared its first interim dividend for the financial year 2026-27 at Rs 5 per equity share (50% of face value). The Board has fixed July 28, 2026, as the record date to identify eligible shareholders. The total payout is scheduled to be completed on or before August 18, 2026. This distribution is supported by the company's steady financial performance, including a TTM PAT of Rs 1,836 Cr and a healthy operating profit margin of 21.6%.
Confidence: HIGH
What changedThe company has officially declared its first interim dividend for the current fiscal year (2026-27) and set the timeline for payment.
Why it mattersThe dividend reflects SRF's commitment to returning capital to shareholders, supported by its strong market position in refrigerants and specialty chemicals, despite a high capex intensity of Rs 2,200-2,300 Cr planned for FY26.
Dividend per share: Rs 5Dividend % of Face Value: 50%Record Date: 28-Jul-2026Dividend vs TTM EPS: 8.08%Payment Deadline: 18-Aug-2026
📅 Short termThe stock price is expected to adjust downwards by the dividend amount (Rs 5) on the ex-dividend date, which is a routine market adjustment.
📈 Long termLimited; this is a routine interim dividend payout and does not alter the long-term structural growth thesis driven by chemical capacity expansions.
Key Highlights
Interim dividend declared at Rs 5 per equity share for FY 2026-27.
Record date for determining shareholder eligibility is July 28, 2026.
Dividend payment to be processed on or before August 18, 2026.
The dividend amount represents approximately 8.1% of the TTM EPS of Rs 61.91.
👀 What to Watch
Investors should track the ex-dividend date (typically one business day before the record date) to ensure they hold the shares in time to qualify for the Rs 5 per share payout.
76% PAT Growth in Q1FY27; SRF Approves ₹250 Cr Capex and ₹5 Interim Dividend
SRF Limited reported a robust Q1FY27 with consolidated revenue rising 32% YoY to ₹5,033 crore and Profit After Tax (PAT) surging 76% to ₹759 crore. The growth was driven by a massive 149% EBIT jump in the Performance Films & Foil segment and a 186% EBIT increase in Technical Textiles. The board approved a new ₹250 crore investment for a BOPET Thick Film Line in India and declared an interim dividend of ₹5 per share. Management characterized this as the company's best-ever quarterly performance, supported by fundamental momentum and some inventory gains.
Confidence: HIGH
What changedSRF has achieved record quarterly financial performance, reversing recent margin pressures, and has committed to new capacity expansion in the packaging segment.
Why it mattersThe sharp recovery in EBIT across all segments, particularly Packaging and Technical Textiles, indicates a strong cyclical rebound and improved product mix towards value-added products.
Q1FY27 Consolidated Revenue: ₹5,033 crQ1FY27 PAT Growth (YoY): 76%New Capex (BOPET Line): ₹250 crCapex vs TTM Revenue: 1.58%Interim Dividend: ₹5 per shareTotal Patents Applied: 528
📅 Short termThe stock is likely to react positively to the significant earnings beat and the announcement of a fresh capex and dividend.
📈 Long termSRF continues to strengthen its diversified portfolio; the shift toward value-added products in packaging and ongoing specialty chemical debottlenecking supports long-term margin expansion.
⚠ Risk flags
- Industry overcapacity in China impacting global pricing
- Geopolitical developments affecting trade
- Sustainability of inventory gains which supported this quarter's results
Key Highlights
Consolidated PAT increased 76% YoY to ₹759 crore from ₹432 crore in the corresponding period last year.
Performance Films & Foil segment EBIT surged 149% to ₹350 crore, driven by record production levels.
Board approved a ₹250 crore capital expenditure for setting up a BOPET Thick Film Line in India.
Technical Textiles EBIT grew 186% YoY to ₹108 crore despite competitive pressures from Chinese exports.
Chemicals Business revenue grew 26% to ₹2,315 crore, maintaining its position as the largest segment.
👀 What to Watch
Investors should monitor the commissioning timeline of the ₹250 crore BOPET line and the sustainability of the margin recovery in the Packaging Films segment. Additionally, track the impact of Chinese overcapacity on the Specialty Chemicals business in upcoming quarters.
Rs 250 Cr Capex: SRF to Add 25,000 MTPA BOPET Thick Film Capacity
SRF Limited has approved a Rs 250 crore investment to establish a 25,000 MTPA BOPET Thick Film line, targeting industrial and electronic end-use segments. This project represents a strategic shift toward specialized substrates to mitigate the cyclicality inherent in commodity thin films. The expansion will be funded through a mix of debt and internal accruals, with a commissioning timeline of 24 months. While the investment is relatively small at ~1.58% of TTM revenue, it focuses on a niche market with limited domestic competition in India.
Confidence: HIGH
What changedSRF is expanding its packaging film portfolio into specialized BOPET thick films, a new substrate for the company aimed at high-end industrial applications.
Why it mattersThis move addresses the high volatility and cyclicality of the commodity packaging film market by entering a segment with limited domestic capacity and potentially higher, more stable margins.
Investment Value: Rs 250 CroresProposed Capacity: 25,000 MTPAExecution Timeline: 24 monthsInvestment vs TTM Revenue: ~1.58%Investment vs Net Worth: ~1.97%
📅 Short termThe announcement is likely to be viewed positively as a strategic diversification, though immediate financial impact is negligible given the 2-year construction period.
📈 Long termStructurally positive as it shifts the Packaging Films segment toward value-added products, potentially improving the overall OPM which stood at 21.6% TTM.
⚠ Risk flags
- Execution risk over the 24-month project period
- Cyclicality of the broader electronics and industrial sectors
- Potential increase in debt-to-equity ratio
Key Highlights
Board approved a capital expenditure of Rs 250 crore for a new BOPET Thick Film line.
Proposed capacity addition of 25,000 MTPA to be completed within 24 months.
Targeting specialized industrial and electronic segments to reduce exposure to commodity cycles.
Investment represents approximately 10.8% of the company's planned FY26 capex of Rs 2,300 crore.
Financing to be managed through a combination of debt and internal accruals.
👀 What to Watch
Investors should monitor the project's execution timeline over the next 24 months and watch for management commentary on margin profiles for thick films versus existing commodity packaging products.
Rs 5 per share Interim Dividend declared by SRF; Record Date July 28, 2026
SRF Limited has declared its first interim dividend for FY 2026-27 at Rs 5 per equity share (50% of face value). The record date for determining shareholder eligibility is July 28, 2026, with the payment scheduled to be completed by August 18, 2026. At the current market price of Rs 2939, this specific payout represents a yield of approximately 0.17%. The estimated total payout is roughly Rs 148.7 crore, which is approximately 8.1% of the company's TTM PAT of Rs 1836 crore.
Confidence: HIGH
What changedSRF has initiated its shareholder reward cycle for FY 2026-27 with the declaration of the first interim dividend.
Why it mattersThe dividend confirms the company's ability to generate surplus cash even while maintaining high capital expenditure intensity in its Chemicals and Packaging segments.
Dividend per share: Rs 5Record Date: July 28, 2026Payment Date: August 18, 2026Dividend Yield (Current): 0.17%Payout vs TTM PAT: ~8.1%
📅 Short termThe stock may see minor price adjustments around the ex-dividend date, though the low yield suggests minimal volatility from this specific event.
📈 Long termLimited; SRF remains a growth-oriented story where capital is primarily recycled into specialty chemicals capacity rather than high dividend payouts.
Key Highlights
Interim dividend of Rs 5 per equity share declared for FY 2026-27
Record date for eligibility fixed as July 28, 2026
Dividend payment to be completed on or before August 18, 2026
Estimated total payout of ~Rs 148.7 crore against TTM PAT of Rs 1836 crore
👀 What to Watch
Investors should note the record date of July 28, 2026, to be eligible for the payout. While the yield is low, monitor if the company maintains this payout alongside its aggressive FY26 capex plan of Rs 2,200-2,300 crore.
SRF Q1 FY27: Net Profit Surges 42.6% YoY to ₹566 Cr; ₹5/share Interim Dividend Declared
SRF reported a strong performance for Q1 FY27, with standalone revenue growing 25% YoY to ₹3,801.97 Cr. Standalone Net Profit saw a significant jump of 42.6% YoY to ₹566.30 Cr, supported by an expansion in operating margins to 20.82% from 17.17% in the previous year. The Chemicals segment remains the primary driver, contributing ₹2,244.18 Cr (approx. 59%) to total revenue. Additionally, the board approved a first interim dividend of ₹5.00 per share for FY27.
Confidence: HIGH
What changedSRF has shown a strong recovery in profitability and margins compared to the previous year, moving past the one-time impacts of labor code adjustments seen in FY26.
Why it mattersThe margin expansion suggests improved pricing power or better product mix in the Chemicals and Packaging segments, which had previously faced headwinds from global inventory rationalization and Chinese dumping.
Standalone Revenue (Q1 FY27): ₹3801.97 CrStandalone Net Profit (Q1 FY27): ₹566.30 CrOperating Margin: 20.82%Interim Dividend: ₹5.00 per shareChemicals Segment Revenue: ₹2244.18 CrDebt-to-Equity Ratio: 0.32
📅 Short termThe stock is likely to react positively in the short term due to the strong earnings beat and margin improvement exceeding historical TTM averages.
📈 Long termSRF's long-term trajectory remains tied to its high capex intensity (₹2,200-2,300 Cr planned for FY26) and its ability to scale specialty chemicals and fluoropolymers.
⚠ Risk flags
- Volatility in global chemical prices
- Ongoing monitoring of New Labour Code impacts
- Dependency on global trade dynamics and potential dumping from China
Key Highlights
Standalone Net Profit increased 42.6% YoY to ₹566.30 Cr from ₹397.00 Cr in Q1 FY26.
Standalone Revenue from operations grew 25% YoY to ₹3,801.97 Cr.
Operating Margin improved to 20.82% compared to 17.17% in the same quarter last year.
Chemicals Business revenue reached ₹2,244.18 Cr, representing a 22.5% YoY growth.
Interim Dividend of ₹5.00 per share declared, involving a total payout of ₹148.21 Cr.
👀 What to Watch
Investors should monitor the margin sustainability in the Chemicals segment and the revenue ramp-up from the newly commissioned aluminum foil facility in the Performance Films and Foil business.
SRF to Hold 55th AGM on June 30, 2026; Proposes Re-appointment of JMD with Salary Hike
SRF Limited has scheduled its 55th Annual General Meeting for June 30, 2026, to adopt the FY26 financial statements and approve key leadership appointments. A significant proposal includes the re-appointment of Mr. Kartik Bharat Ram as Joint Managing Director for a five-year term with a monthly salary increase to ₹98 lakhs from ₹90 lakhs. The company also seeks approval for the re-appointment of Mr. Pramod Gopaldas Gujarathi as Whole Time Director for three years. Remote e-voting is available for shareholders from June 27 to June 29, 2026.
Key Highlights
55th Annual General Meeting scheduled for June 30, 2026, via Video Conferencing.
Proposed re-appointment of Mr. Kartik Bharat Ram as JMD for a term from June 1, 2026, to March 31, 2031.
JMD monthly salary revised to ₹98 lakhs, with total remuneration capped at 2.5% of net profits.
Re-appointment of Mr. Pramod Gopaldas Gujarathi as Whole Time Director for 3 years with a ₹36 lakhs p.a. salary limit.
Remote e-voting period set for June 27-29, 2026, with a cut-off date of June 23, 2026.
👀 What to Watch
Investors should monitor the voting results regarding management remuneration and re-appointments to ensure alignment with corporate governance standards. The leadership continuity is generally a positive sign for long-term strategic stability.
SRF Commissions Phase 1 of Capacitor Grade BOPP Film Line at INR 277 Cr
SRF Limited has successfully commissioned and capitalized the first phase of its new manufacturing facility for Capacitor Grade BOPP Film in Indore. This phase involved a capital expenditure of approximately INR 277 Crores and follows the board approval granted in October 2023. The project marks a significant addition to the company's specialty film capacity. A smaller second phase, costing approximately INR 6 Crores, is expected to be capitalized by September 2026.
Key Highlights
Commissioned Phase 1 of the Capacitor Grade BOPP Film line at Indore on May 15, 2026
Aggregate cost for Phase 1 capitalized at approximately INR 277 Crores
Phase 2 capitalization of INR 6 Crores scheduled for completion in September 2026
The project expands SRF's footprint in high-value specialty packaging and industrial films
👀 What to Watch
Investors should monitor the ramp-up of this new capacity and its subsequent impact on the Packaging Films segment's revenue and margins. This expansion reinforces SRF's strategy of investing in value-added products.
SRF Reports Strong FY26 Performance with 46.7% PAT Growth; Chemicals EBIT Surges 36%
SRF Limited delivered a robust performance for FY26, with consolidated Profit After Tax (PAT) rising 46.7% YoY to ₹1,835.2 crore. The Chemicals business remains the dominant driver, contributing 75.2% of total EBIT and recording a 35.9% YoY growth in segment profit. While the Packaging Films business showed recovery with a 39.2% EBIT increase, Technical Textiles faced headwinds with a 20.1% decline in EBIT. The company announced a significant ₹2,300 crore investment for its Odisha site to expand HFO and HF derivative capacities, while deferring a ₹490 crore BOPP expansion in Indore.
Key Highlights
Consolidated FY26 Revenue grew 7.4% to ₹15,786.5 crore with EBITDA margins expanding to 23.5%.
Chemicals segment EBIT rose 35.9% to ₹2,262.9 crore, driven by robust HFC volumes and realizations.
Board approved enhancement of Odisha site investment to ₹2,300 crore for HFO and HF derivatives.
Packaging Films EBIT jumped 46.8% in Q4 FY26, indicating the worst of the industry cycle may be over.
Net Debt to EBITDA improved significantly to 1.02x from 1.19x in the previous year.
👀 What to Watch
Investors should view the strong recovery in margins and the massive capex commitment in Fluorochemicals as long-term growth catalysts. The company's ability to maintain high margins despite Chinese pricing pressure in specialty chemicals makes it a preferred pick in the diversified chemicals space.
SRF Approves ₹88 Crore Expansion of HFC Production Capacity Beyond 65,000 MTPA
SRF Limited's Board has approved a capital expenditure of ₹88 crore to expand its Hydrofluorocarbon (HFC) production capacity. This expansion will take the company's total capacity beyond 65,000 MTPA, specifically aimed at utilizing production allowances from historical HCFC-22 production. The project is expected to be completed within a relatively short timeframe of 8 months. Funding for this expansion will be managed through a mix of debt and internal accruals, indicating a balanced capital structure approach.
Key Highlights
Board approved ₹88 crore investment for HFC capacity expansion
Total HFC production capacity to exceed 65,000 MTPA post-expansion
Project enables full utilization of HFC production allowances from 2009-10
Expected completion timeline is 8 months from approval
Financing to be sourced through a mix of debt and internal accruals
👀 What to Watch
Investors should view this as a strategic move to maximize regulatory allowances and boost the chemicals segment's output. Monitor the project's completion over the next two quarters for potential revenue impact.
SRF Approves ₹88 Crore Investment to Expand HFC Capacity Beyond 65,000 MTPA
SRF Limited's Board has approved a capital expenditure of ₹88 crore to increase its HFC (Hydrofluorocarbon) production capacity. This expansion will push the company's total capacity beyond 65,000 MTPA, specifically aimed at utilizing production allowances derived from historical HCFC-22 output. The project features a relatively short execution timeline of 8 months, suggesting a quick path to operationalization. Funding for this expansion will be a mix of debt and internal accruals, indicating a stable financial approach to growth.
Key Highlights
Investment of ₹88 crore approved for HFC production capacity expansion
Total HFC capacity to exceed 65,000 MTPA post-expansion
Project designed to utilize eligible HFC production allowances from 2009-10 HCFC-22 levels
Completion expected within a 8-month timeframe
Funding to be sourced through a combination of debt and internal accruals
👀 What to Watch
Investors should monitor the timely completion of this project as it strengthens SRF's leadership in the fluorochemicals space. The expansion is likely to support margin growth in the chemical business segment over the medium term.
SRF Limited Indefinitely Delays ₹490 Crore BOPP Film Project in Indore
SRF Limited has announced an indefinite delay for its previously approved ₹490 crore capital expenditure project to set up a BOPP film manufacturing facility in Indore, Madhya Pradesh. The project, originally approved in July 2025, is being put on hold due to a material shift in the operating environment for BOPP films. Management cited the need for a prudent reassessment of market timing and demand conditions before proceeding. The company intends to redirect its focus toward diversification into new substrates and higher-value segments.
Key Highlights
Indefinite delay of the ₹490 crore BOPP film manufacturing facility in Indore.
The project was originally approved by the Board on July 23, 2025.
Decision driven by a reassessment of the current operating environment and demand for BOPP films.
Company shifting strategic focus toward downstream assets and selective capacity expansion in higher-value segments.
👀 What to Watch
Investors should be cautious as this delay suggests overcapacity or weak pricing power in the packaging film industry. Monitor the Packaging Film Business (PFB) margins in upcoming quarters for signs of further stress.
SRF Q4 PAT Up 11% to ₹582 Cr; Announces Massive ₹2,300 Cr Refrigerant Capex
SRF Limited reported a healthy Q4FY26 with consolidated revenue rising 7% to ₹4,615 crore and PAT increasing 11% to ₹582 crore. The company showed strong annual performance for FY26, with PAT surging 47% to ₹1,835 crore. A significant strategic shift was announced with the refrigerant project capex doubling to ₹2,300 crore, while a ₹490 crore BOPP film project was deferred indefinitely. Segmentally, Performance Films and Technical Textiles saw robust EBIT growth of 47% and 63% respectively.
Key Highlights
Q4FY26 PAT increased 11% YoY to ₹582 crore; Annual FY26 PAT grew 47% to ₹1,835 crore.
Performance Films & Foil EBIT rose 47% to ₹154 crore; Technical Textiles EBIT jumped 63% to ₹65 crore.
Refrigerant project capex revised upwards from ₹1,100 crore to ₹2,300 crore for HFO and HF plants.
Board deferred the ₹490 crore BOPP Film facility in Indore indefinitely citing market changes.
Total patents applied reached 521, with 156 granted globally as of March 31, 2026.
👀 What to Watch
The massive capex in Fluorochemicals reinforces SRF's pivot towards high-margin specialty chemicals. Investors should maintain a positive outlook while monitoring the execution of the new large-scale projects.
SRF FY26 Standalone Net Profit Jumps 36% to ₹1,725 Crore; Board Skips Final Dividend
SRF Limited reported a strong annual performance for FY26, with standalone net profit rising 36% to ₹1,724.63 crore compared to ₹1,268.07 crore in FY25. Annual revenue grew by 6.2% to reach ₹12,420.51 crore. However, Q4 FY26 performance was relatively flat, with standalone profit at ₹507.06 crore versus ₹513.16 crore in the year-ago period. The company also accounted for an exceptional one-time cost of ₹84.22 crore related to new labor codes and recommended no final dividend.
Key Highlights
Annual Standalone Revenue grew 6.2% YoY to ₹12,420.51 crore in FY26.
Standalone Net Profit for FY26 surged 36% to ₹1,724.63 crore from ₹1,268.07 crore.
Q4 FY26 Standalone Net Profit remained flat at ₹507.06 crore compared to ₹513.16 crore in Q4 FY25.
Exceptional item of ₹84.22 crore recognized for the year due to the impact of New Labour Codes.
Board of Directors recommended 'Nil' final dividend for the financial year ended March 31, 2026.
👀 What to Watch
Investors should monitor the company's capital allocation strategy as the board skipped a final dividend despite strong annual profit growth. The flat Q4 performance suggests some margin pressure or slowing momentum in the final quarter that warrants a closer look at segment-wise performance.
SRF Q3 FY26 PAT Surges 60% YoY to ₹433 Cr; Announces ₹5/Share Interim Dividend
SRF reported a strong Q3 FY26 performance with consolidated revenue growing 6% YoY to ₹3,713 crore and PAT jumping 60% to ₹433 crore. The Chemicals business led growth with a 22% revenue increase to ₹1,825 crore, driven by record performance in Fluorochemicals and firm global HFC prices. Despite pricing pressures from Chinese competitors in Specialty Chemicals and Technical Textiles, the company maintained market share and improved operational efficiencies. The board approved a second interim dividend of ₹5 per share and a new ₹180 crore investment for a pharma intermediate plant at Dahej.
Key Highlights
Consolidated PAT expanded 60% YoY to ₹433 crore, while EBIT rose 23% to ₹653 crore with 18% margins.
Chemicals segment revenue grew 22% YoY to ₹1,825 crore, supported by record refrigerant gas volumes and firm HFC prices.
Approved a new ₹180 crore investment for a second pharma intermediate plant at Dahej, expected to be commissioned in 8 months.
Declared a second interim dividend of ₹5 per share, entailing a total cash outflow of ₹148.21 crore.
Recognized a ₹73 crore exceptional charge for labor code changes and a ₹99 crore tax credit from a favorable ITAT order.
👀 What to Watch
Investors should find the strong recovery in the Chemicals segment and the strategic expansion into pharma intermediates encouraging. The stock remains a solid play on fluorochemicals and specialty chemicals, though monitoring Chinese pricing competition is essential.
SRF Limited Faces Rs 38.49 Crore Customs Duty and Penalty Demand
SRF Limited has received an order from the Commissioner of Customs, Chennai-II, imposing a demand of approximately Rs. 38.49 Crores including penalties and interest. The order cites alleged wrong HSN classification for imported raw materials and process chemicals, which led to the denial of Free Trade Agreement (FTA) benefits and exemption notifications. The department also alleged wrongful availing of export incentives by the company. SRF management intends to contest the demand in legal forums, asserting that the claim is not legally tenable.
Key Highlights
Total demand of Rs. 38.49 Crores including customs duty, penalty, and applicable interest.
Allegations involve incorrect HSN classification for raw materials and process chemicals.
Department claims denial of FTA benefits and wrongful availing of export incentives.
Management plans to contest the order before appropriate legal forums based on legal advice.
👀 What to Watch
Investors should monitor the legal proceedings as the outcome will determine the final financial liability. While the amount is significant, it is unlikely to impact the company's long-term fundamentals unless similar issues arise across other business units.
SRF Limited Declares 2nd Interim Dividend of Rs 5.00 Per Share
SRF Limited's Board of Directors has declared a second interim dividend of Rs 5.00 per equity share for the financial year 2025-26, representing a 50% payout on the paid-up capital. The company has fixed January 27, 2026, as the record date to identify eligible shareholders. The dividend distribution is scheduled to be completed on or before February 17, 2026. This announcement reflects the company's commitment to returning value to its shareholders through consistent payouts.
Key Highlights
Second interim dividend declared at Rs 5.00 per equity share (50% payout)
Record date for dividend eligibility is set for January 27, 2026
Dividend payment to be completed on or before February 17, 2026
Decision finalized during the Board of Directors meeting held on January 20, 2026
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the ex-dividend date, which is typically one working day prior to the record date. Long-term investors should view this as a positive sign of cash flow health.
SRF to Invest Rs 180 Crore for New Pharma Intermediate Plant at Dahej
SRF Limited has announced a capital expenditure of Rs 180 crore for setting up a new Pharma Intermediate Plant (PIP-2) at its Dahej site in Gujarat. The facility will focus on precursor processes for pharmaceutical products to capture emerging business opportunities in the pharma sector. The project is expected to be completed by September 30, 2026. The investment will be funded through a mix of debt and internal accruals, reflecting the company's focus on high-growth specialty segments.
Key Highlights
Board approved Rs 180 crore investment for a new Pharma Intermediate Plant (PIP-2)
The plant will be located at Dahej, Gujarat, focusing on pharma precursor processes
Projected completion date for the new facility is September 30, 2026
Funding will be managed through a combination of debt and internal accruals
👀 What to Watch
Investors should view this as a positive step towards diversifying and strengthening SRF's specialty chemicals and pharma portfolio. Monitor the project's progress toward the 2026 deadline as it represents a key driver for long-term margin expansion.
