SRF Limited, one of India’s leading chemical-based diversified manufacturing companies, has reported a strong performance for the fourth quarter and full financial year ended March 31, 2026. The company announced its consolidated financial results following approval by its Board of Directors, highlighting steady growth across key business segments despite a volatile global environment.

The results show continued operational strength, supported by improved margins, strong segment performance, and strategic expansion initiatives across its core businesses.

Strong Q4FY26 Financial Performance

In the fourth quarter of FY26, SRF reported a consolidated revenue of ₹4,615 crore, reflecting a 7% increase compared to ₹4,313 crore in the corresponding period last year. This growth was driven by better performance across its diversified portfolio, particularly in the Chemicals and Performance Films businesses.

The company’s operational earnings before interest and tax (EBIT) rose 12% year-on-year to ₹1,011 crore, compared to ₹906 crore in the same quarter last year. This indicates improved operational efficiency and stronger realization across product categories.

Profit after tax (PAT) also registered a healthy 11% increase, rising from ₹526 crore to ₹582 crore. This growth reflects sustained profitability despite challenges such as geopolitical uncertainty and export disruptions in certain regions.

Management Commentary and Market Conditions

Commenting on the performance, SRF Chairman and Managing Director Ashish Bharat Ram noted that the company delivered a strong quarter despite a volatile global business environment. He highlighted that exports to the Middle East were impacted during the period, although overall business fundamentals remain stable.

The management also expressed confidence about future growth, while acknowledging that geopolitical uncertainties continue to pose challenges for global trade flows and demand patterns.

Segment-Wise Business Performance

SRF operates across multiple industrial segments, and each contributed differently to the overall performance in Q4FY26.

Chemicals Business

The Chemicals Business, which remains one of SRF’s core revenue drivers, reported a 4% increase in revenue to ₹2,448 crore. Operating profit also rose 5% to ₹783 crore.

Within this segment, fluorochemicals performed strongly due to higher domestic and export demand for HFCs, along with stable performance in industrial chemicals and fluoropolymers. Specialty chemicals also showed improvement compared to the previous quarter, supported by cost optimization initiatives and new product launches.

Performance Films & Foil Business

This segment delivered one of the strongest performances during the quarter. Revenue increased 13% to ₹1,596 crore, while operating profit surged 47% to ₹154 crore.

The growth was driven by improved volumes and margins in BOPET and BOPP films, along with continued demand for value-added and sustainable film products. This segment has been a key contributor to SRF’s recent growth momentum.

Technical Textiles Business

The technical textiles segment reported a 5% rise in revenue to ₹483 crore. Operating profit increased significantly by 63% to ₹65 crore.

Despite challenging market conditions, the segment benefited from improved operational efficiency and better product mix, leading to stronger profitability compared to the previous year.

Other Businesses

The smaller business segment reported marginal revenue growth but a slight decline in operating profit, reflecting continued pressure in certain niche markets.

Annual Financial Performance FY26

For the full financial year FY26, SRF delivered strong overall growth. Revenue increased 7% to ₹15,787 crore, while operational EBIT rose significantly by 29% to ₹3,008 crore.

Net profit for the year surged 47% to ₹1,835 crore compared to ₹1,251 crore in the previous year. This reflects strong execution across businesses and improved profitability margins.

Capex Expansion and Strategic Investments

One of the most significant announcements from the Board meeting was the expansion of SRF’s capital expenditure plans in the refrigerants business.

Initially approved at ₹1,100 crore, the investment has now been revised to approximately ₹2,300 crore following land acquisition in Odisha. The expanded project will include:

• A 20,000 TPA HFO production facility
• A new HF plant with 30,000 TPA capacity
• Value-added HF derivative manufacturing
• Supporting infrastructure including utilities and land development

The project will be executed in phases and is expected to be completed by February 2028. Importantly, SRF has clarified that the project will be based on in-house non-infringing technology.

Additionally, the company has approved expansion of its HFC capacity at Dahej, aligned with Kigali Amendment requirements. This project involves an investment of ₹88 crore and will increase capacity to 65,000 TPA after debottlenecking.

Innovation and Intellectual Property

SRF continues to focus heavily on research and innovation. As of March 31, 2026, the company has filed 521 patents and has been granted 156 patents globally.

This strong intellectual property pipeline supports its long-term strategy of developing advanced chemical and industrial solutions across global markets.

Awards and Recognition

During the year, SRF received recognition for procurement excellence and sustainability efforts. SRF Industries Thailand was also awarded for green initiatives, reflecting the company’s global focus on responsible manufacturing practices.

Join our Telegram Channel for Latest News and Regular Updates.

Start your Mutual Fund Journey  by Opening Free Account in Asset Plus.