| Management target | Revenue 17.5% FY27 |
|---|
| Revenue growth | Gross operating revenue reached 5,033 crore, supported by chemical recovery. |
|---|---|
| Margins | Packaging margins spiked to 17% due to temporary Middle East disruptions. |
| Demand visibility | Strong domestic demand for refrigerants; agro-chem showing early signs of recovery. |
| Management confidence | Confident but realistic, cautioning that Q1 film margins were exceptional. |
Growth
Operational EBITDA surged 61% and PAT 76% YoY, fueled by high utilization and inventory-driven pricing in films.
Outlook
Chemicals guidance maintained at 15-20% growth for the year despite Q1 outperformance.
Risks
Management explicitly warned of 'normalization' in packaging margins for Q2; excess Chinese capacity remains a long-term threat.
Last quarter's promises, checked
Delivered
- Specialty Chemicals Q4 pickup → delivered recovery in Q1 FY27 (= BEAT)
- Pharma intermediate plant 2 (180 cr) → commissioned/scaling (= BEAT)
- New AI launches (1 in FY26, 2 in FY27) → on track/scaling (= BEAT)
Partly delivered
- Capex guidance 2,200-2,300 cr → FY25 spend was ~1,200 cr (= PARTIAL)
Missed
- Chemicals FY26 growth 20% → management admitted falling short (= MISS)
Earnings Call Transcript filed with NSE, NSE: SRF. Summary written with AI assistance from the document.
SRF Ltd: key numbers
- Share price
- ₹2,540.00
- Market cap
- ₹75,292 Cr
- Revenue (annual)
- ₹15,787 Cr
- Net profit (annual)
- ₹1,835 Cr
- P/E (TTM)
- 34.8×Sector 37.5×
- Promoter holding
- 50.26%+0.00% QoQ
- FII holding
- 15.45%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from SRF Ltd
All →SRF Promoter Buying (Off-Market): ₹809.6 Cr
KAMA Realty (Delhi) acquired 32,00,000 shares (1.08% stake) of SRF Limited from KAMA Holdings via an off-market inter-se transfer for ₹809.64 Crore.
- Value
- ₹809.6 Cr
- Promoter stake change
- +1.08%
SRF Management Change
SRF Limited announced the resignation of Ms. Geeta Shamrao Jadhav from her position as President & CHRO, effective from the close of business hours on September 23, 2026.
SRF Capital Structure Change
Kama Realty (Delhi) Ltd & PACs filed a SAST Reg 29(2) disclosure regarding SRF Ltd shares. The filing contains no transaction details or monetary value.
SRF Promoter Buying (Off-Market)
Kama Realty (Delhi) Limited, a promoter group entity, acquired 10,00,000 equity shares of SRF Limited through an off-market inter-se transfer.
- Promoter stake change
- +0.34%
SRF Promoter Selling (Off-Market)
KAMA Holdings Limited sold 10,00,000 shares of SRF Ltd via an inter-se off-market transfer. The transaction resulted in a 0.33% reduction in the seller's stake.
- Promoter stake change
- -0.33%
SRF Promoter Buying (Off-Market)
KAMA Realty proposes an off-market inter-se transfer acquisition of 32,00,000 SRF Ltd shares (1.08% stake) from KAMA Holdings Limited. This transaction involves promoter group entities.
- Promoter stake change
- +1.08%