SRF (SRF) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenue rose 7.4% to ₹15,786.5 crore, with PAT up 46.7% to ₹1,835.2 crore and operational EBIT up 29% to ₹3,008 crore year-over-year.

• EBITDA margin improved to 23.5% for FY26 from 20.2% in FY25, with PAT margin at 11.63%.

• Growth was driven by Chemicals and Performance Films & Foil segments, with strong global presence in over 90 countries.

• Second-best overall performance in company history, achieved despite global volatility and supply chain disruptions.

• Audited standalone and consolidated financial results for FY26 were approved by the Board on May 5, 2026, with unmodified audit opinions.

Financial highlights

• Chemicals business revenue grew 16.3% to ₹7,779 crore in FY26; Performance Films & Foil revenue up 3.8% to ₹5,764.2 crore; Technical Textiles revenue at ₹1,877 crore.

• Q4 FY26 revenue was ₹4,615.2 crore, up 7% year-over-year; PAT for Q4 was ₹582 crore, up 10.6%.

• Basic and diluted EPS for FY26 at ₹61.91, up from ₹42.20 in FY25.

• Standalone revenue for FY26 was ₹12,420.51 crore; standalone net profit was ₹1,724.63 crore.

• R&D expenditure totaled ₹160 crore, with 40 patents filed and 5 granted in FY26.

Outlook and guidance

• Chemicals business expected to deliver 15%-20% growth in FY27, but faces continued pricing pressure from Chinese competition and geopolitical volatility.

• Planned CapEx for FY27 is approximately ₹2,500 crore, focused on long-term growth, including a new HFO plant in Odisha to be commissioned by Feb 2028 with 20,000 MT capacity.

• The company is monitoring regulatory changes, especially regarding labor codes and tax positions, and will adjust accounting as needed.