SRF Limited Q3 FY26 Earnings Call Transcript Released
SRF Limited released its Q3 FY26 earnings call transcript on January 28, 2026. The company reported a 6% revenue growth to ₹3,713 crore and a 60% PAT increase to ₹433 crore for the quarter ended December 31, 2025. Key highlights include a 22% revenue growth in the Chemicals Business and a new ₹180 crore pharma intermediate plant. The Board approved a second interim dividend of ₹5 per share.
The announcement provides a detailed update on financial performance, segment-wise results, and future projects, which is important for investors. However, it does not involve a major corporate action like a merger or acquisition, hence the impact is assessed as medium.
The company reported positive financial results with revenue and profit growth, despite some segment-specific challenges. The announcement of a second interim dividend and progress on new projects also contribute to a positive sentiment.
SRF Limited has officially released the transcript of its earnings call held on January 20, 2026. The call focused on the un-audited financial results for the quarter and nine months ended December 31, 2025.
During the call, management highlighted a healthy performance across key business segments despite a dynamic and challenging environment. Gross operating revenue grew by 6% to ₹3,713 crore, with EBIT increasing by 23% year-on-year to ₹653 crore, resulting in an 18% margin. Profit After Tax (PAT) saw a significant expansion of 60% year-on-year to ₹433 crore.
The Chemicals Business reported a robust revenue growth of 22%, reaching ₹1,825 crore in Q3 FY26, driven by higher refrigerant volumes and realizations, alongside enhanced operational efficiencies in both Fluorochemicals and Specialty Chemicals. However, the Specialty Chemicals segment faced persistent pricing pressure from Chinese competitors, leading the company to consciously protect market share and volumes. Despite this, the company is progressing with a second pharma intermediate plant at its Dahej site with an investment of ₹180 crore, expected to be commissioned in 8 months.
The Fluorochemicals business achieved a record quarter, with the refrigerant gas segment performing exceptionally well due to firm global HFC prices and steady demand. The Chloromethanes segment delivered steady performance, and efforts are underway to ramp up PTFE capacity, focusing on value-added products. Upcoming projects for new fluoropolymers and next-generation refrigerant gases at the new Odisha site are on track.
The Performance Films & Foils business reported revenue of ₹1,342 crore, with higher EBIT of ₹95 crore, despite a year-on-year decline in revenue due to lower volumes in the domestic market. Signs of recovery are emerging, and international operations remained stable.
The Technical Textiles business reported revenue of ₹454 crore amidst a challenging market, impacted by aggressive Chinese pricing and a decline in demand for Belting Fabrics. The company achieved EcoVadis Silver Certification for Sustainability.
In other businesses, Coated Fabrics and Laminated Fabrics faced challenges due to soft domestic demand and increased pricing pressure from cheaper Chinese imports.
Financially, the Board approved a second interim dividend of ₹5 per share, amounting to ₹148.21 crore. The company recognized ₹73 crore due to changes in the definition of "wages" under new Labor Codes and a credit of ₹99 crore to tax expense due to a favorable ITAT order.
SRF advanced its CSR efforts in education and sustainability, and received recognition at the Hurun India Family Business Excellence Award, with its Chairman Emeritus honored with a Lifetime Achievement Award.
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SRF Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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