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SRF (SRF) investor relations material

SRF Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary28 Oct, 2025

Executive summary

  • Achieved consolidated gross operating revenue of ₹3,640.2 crore in Q2 FY26, up 6.3% year-over-year, with EBIT up 56% to ₹650 crore and margin at 18%.

  • Profit after tax surged 92.7% year-over-year in Q2 FY26 to ₹388.2 crore.

  • Strong performance in chemicals, especially refrigerants and specialty chemicals, despite global uncertainties.

  • Strategic focus on operational excellence, cost management, and innovation supported steady momentum.

  • President & CFO Rahul Jain announced his resignation effective December 12, 2025, with succession planning underway.

Financial highlights

  • EBITDA for Q2 FY26 at ₹830.5 crore, up 39.8% year-over-year; margin improved to 22.8% from 17.3% in Q2 FY25.

  • Net profit expanded by 93% YOY to ₹388 crore; PAT margin rose to 10.7% in Q2 FY26 from 5.9% in Q2 FY25.

  • Chemicals business revenue grew 23% YOY to ₹1,667 crore; EBIT margin at 28.9%.

  • Performance films and foils revenue was ₹1,408 crore, flat YOY, but EBIT rose to ₹119 crore from ₹83 crore.

  • Technical textiles revenue at ₹474 crore, with margin pressure due to lower realizations and revenue down 11.4% YOY.

Outlook and guidance

  • Confident of surpassing 20% full-year growth in the chemicals business, driven by new product launches and strong pipeline.

  • Specialty chemicals expected to see stronger H2 performance due to seasonality and new product contributions.

  • Anticipates stable or better pricing and higher volumes for refrigerant gases in H2.

  • Performance Films & Foil to benefit from new product commercialization and stable overseas operations.

  • Ongoing investments in capacity expansion, innovation, and R&D to support long-term growth.

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Frequently asked questions

SRF Limited is a diversified Indian company primarily involved in the production of chemical-based industrial and specialty intermediates. The company operates through four main business segments: Technical Textiles Business, which includes products like nylon and polyester tire cord fabrics; Chemicals Business, focusing on refrigerant gases and specialty chemicals; Packaging Film Business, producing polyester and polypropylene films; and others, which cover coated and laminated fabrics and other ancillary activities. SRF has a significant manufacturing presence, with facilities in India, Thailand, South Africa, and Hungary, and it serves a variety of industries including automotive, pharmaceuticals, and manufacturing. The company is headquartered in Gurugram, Haryana, India, and its shares are listed on the National Stock Exchange of India.

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