Srf Limited · NSE:SRF
Srf — Q2 & H1 FY26 Earnings Presentation
36 slides from Srf's earnings presentation, Oct 28, 2025
Slide 1: Exchange filing cover letter
The Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited “Exchange Plaza” Ist Floor , New Trading Ring Rotunda Bandra-Kurla Complex Building, P.J. Towers Bandra (E) Dalal Street, Mumbai 400 051 Mumbai 400 001 Scrip Code- 503806 Scrip Code-SRF SRF/SEC/BSE/NSE 28.10.
Slide 2: Q2 & H1 FY26 Results Presentation
Q2 & H1 FY26 Results Presentation October 28, 2025
Slide 3: Disclaimer
Disclaimer Some statements in this document may be forward-looking. Such statements are subject to certain risks and uncertainties like regulatory changes, local, political or economic developments, and many other factors that could cause actual results to differ materially from those contemplated b
Slide 4: Table of Contents
Table of Contents 01 02 03 04 Company Overview Q2 & H1 FY26 Q2 & H1 FY26 Outlook Results Overview Segmental Performance 3
Slide 5: Company Overview
COMPANY OVERVIEW 4 4
Slide 6: Snapshot
Snapshot 100+ 5 16 9,000+ ₹14,693 cr. Countries- Exports Countries- Manufacturing Global Workforce Revenue Operations Facilities ₹ 2,970 cr. ₹ 1,251 cr. 45% 38% 17% Performance Technical Textiles & EBIDTA PAT Chemicals Films & Foil Others On consolidated basis as on March 31, 2025 5
Slide 7: Overview - Business Profile
Overview - Business Profile Chemicals Performance Films & Foil Technical Textiles Others No of Plants - 2 No of Plants - 8 No of Plants - 4 No of Plants - 2 EBIT - ₹ 1,665 cr. EBIT - ₹ 365 cr. EBIT - ₹ 238 cr. EBIT - ₹ 69 cr. Revenue - ₹ 6,691 cr. Revenue - ₹ 5,554 cr. Revenue - ₹ 2,029 cr. Revenue
Slide 8: Manufacturing Facilities
Manufacturing Facilities FLUOROCHEMICALS & SPECIALTY CHEMICALS PERFORMANCE FILMS & FOIL 2 National Operations 5 National Operations 1. Rajasthan, India - Bhiwadi 1. Uttarakhand, India - Kashipur 2. Gujarat, India – Dahej 2. Madhya Pradesh, India - 1 1 1 International Operation a. Special Economic Zo
Slide 9: Market Leadership Across Businesses
Market Leadership Across Businesses Specialty Chemicals • Established relationship with marquee customers • Strong tech capability – pilot to commercial; creating value through operational excellence • Driving customer engagement and satisfaction through world class R&D, EHS and quality management •
Slide 10: Growth Levers
Growth Levers Build a Company known and respected for its R&D capabilities Greater focus on ESG initiatives Focus on building high-end value-added • Benefit the communities where we work products • Embrace diversity, equity & inclusion Continue to build new competencies in the Chemicals • Enhance fo
Slide 11: Q2 & H1 FY26 Results Overview
Q2 & H1 FY26 RESULTS OVERVIEW 10
Slide 12: Abridged Results Overview
Abridged Results Overview Consolidated figures Particulars (Rs. Crore) Q2 FY26 Q2 FY25 % Y-o-Y H1 FY26 H1 FY25 % Y-o-Y Gross Operating Revenue 3,640.2 3,424.3 6.3% 7,458.8 6,888.4 8.3% EBIDTA 830.5 594.0 39.8% 1,680.8 1,239.9 35.6% EBIDTA Margin (%) 22.8% 17.3% 22.5% 18.0% Depreciation 212.1 193.9 9
Slide 13: Results Overview - Financial Overview
Results Overview - Financial Overview Consolidated figures Key Financial Ratios Particulars FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 EBIDTA Margin 22.13% 21.42% 17.69% 19.00% 20.90% 26.05% 25.30% 24.94% 20.88% 20.22% PAT Margin 9.51% 10.87% 8.38% 8.33% 12.70% 14.26% 15.19% 14.54% 10.17% 8.5
Slide 14: Results Overview - Revenue Share
Results Overview - Revenue Share Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Total – 3,426.7 Cr. Total – 3,640.2 Cr. Total – 6,896.5 Cr. Total – 7,458.8 Cr. 112.8 90.8 239.0 185.8 535.5 3.3% 1,357.8 474.3 2.5% 1,666.9 940.9 2.5% 3,505.8 1,060.8 3.5% 2,839.8 13.0% 12.6% 15.6% 15.4% 39.6% 41.2% 45.8% 47.0% 38.7%
Slide 15: Results Overview - EBIT Share
Results Overview - EBIT Share Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Total – 417.5 Cr. Total – 650.1 Cr. Total – 901.9 Cr. Total – 1,344.3 Cr. 17.2 7.5 40.8 42.3 1.2% 20.9 71.3 246.1 481.3 4.5% 79.9 1.6% 4.1% 6.5% 139.0 552.6 984.2 118.9 5.9% 17.1% 15.4% 18.3% 259.2 19.3% 19.8% 59.0% 18.8% 61.3% 74.0% 73.2
Slide 16: Q2 & H1 FY26 – Segmental Performance
Q2 & H1 FY26 – SEGMENTAL PERFORMANCE Chemicals Technical Textiles Performance Films & Others Foil 15
Slide 17: Chemicals Business
WE ALWAYS FIND A BETTER WAY
Slide 18: Chemicals Business - Results Update
Chemicals Business - Results Update Consolidated figures PARTICULARS Q2 FY26 Q2 FY25 % Y-o-Y H1 FY26 H1 FY25 % Y-o-Y Segment Revenues 1,666.9 1,357.8 22.8% 3,505.8 2,839.8 23.5% % Contribution 45.8% 39.6% 47.0% 41.2% to Revenues EBIT 481.3 246.1 95.5% 984.2 552.6 78.1% % EBIT Margins 28.9% 18.1% 28.
Slide 19: Chemicals Business - Specialty Chemicals
Chemicals Business Specialty Chemicals Business Key Highlights Market Trends • Specialty Chemicals Business performance improved over CPLY, driven by • Agro majors deferring procurement to late H2 FY26 amid higher volumes and operational efficiencies through cost and process delayed demand from cust
Slide 20: Chemicals Technology Group
Chemicals Business Chemicals Technology Group Chemicals Technology Group (CTG) is Equipped with state-of-the-art R&D actively engaged in the development facilities and an ingenious team of of new process technologies scientists and engineers 2 R&D centres in India – Bhiwadi, Key focus on high end mo
Slide 21: Chemicals Business - Fluorochemicals
Chemicals Business Fluorochemicals Business Key Highlights Market Trends • Fluorochemicals business delivered strong YoY performance driven by: • Global HFC prices remain firm, driven by China’s quota-led o Higher volumes and realizations of HFCs across domestic and supply restrictions and steady in
Slide 22: Performance Films & Foil Business
PERFORMANCE FILMS & FOIL BUSINESS 21
Slide 23: Performance Films & Foil Business - Results
Performance Films & Foil Business - Results Consolidated figures PARTICULARS Q2 FY26 Q2 FY25 % Y-o-Y H1 FY26 H1 FY25 % Y-o-Y Segment Revenues 1,408.1 1,420.6 -0.9% 2,826.3 2,756.9 2.5% % Contribution 38.7% 41.5% 37.9% 40.0% to Revenues EBIT 118.9 82.8 43.6% 259.2 169.6 52.8% % EBIT Margins 8.4% 5.8%
Slide 24: Performance Films & Foil Business
Performance Films & Foil Business Key Highlights Market Trends • Business achieved stable revenue in Q2 with higher margin compared to • Global supply for BOPET continues to exceed demand, though CPLY due to: utilization levels improved o Higher volumes and realisation for BOPP o Ramping up of produ
Slide 25: Technical Textiles Business
TECHNICAL TEXTILES BUSINESS 24
Slide 26: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Consolidated figures PARTICULARS Q2 FY26 Q2 FY25 % Y-o-Y H1 FY26 H1 FY25 % Y-o-Y Segment Revenues 474.3 535.5 -11.4% 940.9 1,060.8 -11.3% % Contribution 13.0% 15.6% 12.6% 15.4% to Revenues EBIT 42.3 71.3 -40.7% 79.9 139.0 -42.5% % EBIT Margins 8.9% 13.3%
Slide 27: Technical Textiles Business
Technical Textiles Business Key Highlights Market Trends • TTB performance negatively impacted by weak market: • Market conditions remained challenging due to cheap imports o Nylon Tyre Cord Fabric (NTCF) and Belting Fabric (BF) margin under from China pressure due to Chinese imports, though overall
Slide 28: Other Businesses
WE ALWAYS FIND A BETTER WAY
Slide 29: Others - Results Update
Others - Results Update Consolidated figures PARTICULARS Q2 FY26 Q2 FY25 % Y-o-Y H1 FY26 H1 FY25 % Y-o-Y Segment Revenues 90.8 112.8 -19.5% 185.8 239.0 -22.3% % Contribution 2.5% 3.3% 2.5% 3.5% to Revenues EBIT 7.5 17.2 -56.4% 20.9 40.8 -48.7% % EBIT Margins 8.3% 15.2% 11.3% 17.1% % Contribution to
Slide 30: Others - Key Highlights
Others - Key Highlights • Continue to maintain leadership position in the domestic market, both in volume and price Coated • Tensile product offerings introduced in domestic market during Q2, a key step towards product diversification Fabrics • Launched value-engineered products targeting commodity
Slide 31: SRF's Community Engagement
SRF’s Community Engagement Tinker Coding Labs & Digital Rural Education Program (Bhopal, Anganwadi Development Digital Smart Shiksha Bus Innovation Hub, Mewat: Netrang, Bharuch, Bhind, Dhar, (Bhopal, Netrang): (Bhopal, Bhind): • 100 students from 7 labs Bhiwadi): • 26 centres hosted • Reached 9 vill
Slide 32: Outlook
OUTLOOK Chemicals Technical Textiles Performance Films & Others Foil 31
Slide 33: Outlook - Chemicals Business
Outlook - Chemicals Business Specialty Chemicals Fluorochemicals Agrochemicals segment expected to pick up Focus on maximizing HFC production gradually Overall RG market in H2 expected to be Work on AIs progressing as per plan better than H1, with stable margins Competition from Chinese manufacturer
Slide 34: Outlook - Performance Films & Foil and Technical Textiles
Outlook - Performance Films & Foil Business and Technical Textiles Business Performance Films & Foil Business Uncertainty in US tariffs impacting Thailand and Hungary operations South Africa to continue performing exports; counter-measures being likely to remain stable well deployed Aluminium Foil f
Slide 35: About Us
About Us Established in 1970, SRF Limited is a chemical-based, multi-business conglomerate with a For further information please contact strong global footprint. The company operates across a diversified portfolio that includes: Fluorochemicals, Specialty Chemicals, Performance Films & Foil, Technic
Slide 36: Thank You
Thank You