Q1 2026 SRF Ltd Earnings Call Transcript
Key Points
- SRF Ltd (BOM:503806) reported a strong start to FY26 with a 71% year-on-year increase in profit after tax, reaching INR432 crore.
- The Chemicals business saw a 24% year-on-year revenue growth, with operating profit increasing by 64% to INR503 crore.
- The company launched a new pharma intermediate and registered an AI product, both expected to scale up in FY26.
- SRF Ltd's Fluorochemicals business achieved commercial sales of R467A, a low GWP refrigerant gas, marking a significant milestone.
- The Performance Films and Foil business recorded a 6% year-on-year revenue growth, with operating profit increasing by 62% due to improved efficiency and higher capacity utilization.
- The Technical Textiles business faced challenges due to weak domestic demand for nylon tire cord fabric and pricing pressure from Chinese competition.
- The agrochemical market is still experiencing some pricing pressures despite a gradual recovery post inventory rationalization.
- SRF Ltd's Thailand unit faced margin pressure due to high costs and competition from China.
- The domestic market for Fluorochemicals remained weak, impacting overall performance despite countermeasures in the export market.
- There are ongoing concerns about the quota regime for HFCs, which could impact future capacity expansions.
Ladies and gentlemen, good day, and welcome to SRF Limited Q1 and FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Kumar Saumya from Ambit Capital. Thank you, and over to you, sir.
Thank you, Anshul. Good afternoon, everyone, and thank you for joining us today. We at Ambit Capital, are pleased to host SRF Limited's Q1 FY26 results conference call. We have with us today, Mr. Rahul Jain, President and CFO of SRF Limited. I would now like to invite Mr. Nitika Dhawan, Head of Corporate Communications at SRF, to initiate the proceedings for the results conference call. Over to you, ma'am. Thank you.
Good afternoon, everyone, and thank you for joining us on SRF Limited's quarter one financial year '26 Results Conference Call. We will begin this call with brief opening remarks from our President
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