SRF · SRF Limited · NSE · Filed 21 Oct · 2 min read

SRF's Q2 net profit rises year-on-year, led by Performance Films and Chemicals

SRF reported higher consolidated revenue and net profit for the September 2026 quarter versus a year earlier, with growth led by its Performance Films & Foil and Chemicals segments.

What was filed

SRF Limited's Board of Directors, meeting on 21 October 2026, approved the company's unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026. Both sets carry limited review reports from statutory auditors B S R & Co. LLP, which reported nothing causing them to believe the statements contained a material misstatement. The consolidated results cover SRF and its subsidiaries across India, Thailand, South Africa, the Netherlands, Hungary and the Middle East.

The quarter in brief

On a consolidated basis, SRF reported year-on-year growth in both revenue and profit for the September quarter. Sequentially, profit was lower than the June 2026 quarter, reflecting a softer operating margin in the latest three months. Among the three main businesses, segment disclosures show the Performance Films & Foil Business and the Chemicals Business as the largest revenue contributors, with Performance Films & Foil segment results rising sharply year-on-year. The Technical Textiles Business remained the smallest of the three reported segments.

The filing flags two prior-year items relevant to comparisons: a one-time exceptional charge of ₹84.95 crore (consolidated) recognised in FY2025-26 for the impact of the New Labour Codes, and a ₹99.12 crore write-back of tax provisions in FY2025-26 following a favourable Income Tax Appellate Tribunal order on Carbon Emission Reduction Certificates. Neither item recurs in the current quarter.

Balance sheet and cash flow

Listed commercial papers aggregating ₹700 crore were outstanding as at 30 September 2026, rated CRISIL A1+ and IND A1+, with all dues repaid on their respective dates during the period. Consolidated net cash generated from operating activities for the half year was lower than the prior-year period, driven largely by a build-up in trade receivables and inventories; the company continued to spend on property, plant and equipment and capital work-in-progress over the half.

Consolidated revenue from operations (Q2 prior year): ₹3,640.19 → ₹4,904.20 crQ2 FY26 → Q2 FY27+35%^‡
Consolidated net profit after tax (Q2 prior year): ₹388.18 → ₹509.12 crQ2 FY26 → Q2 FY27+31%^‡
Consolidated profit before tax (Q2 prior year): ₹517.05 → ₹671.04 crQ2 FY26 → Q2 FY27+30%^‡
Consolidated revenue (H1 prior year): ₹7,458.81 → ₹9,937.46 crH1FY2025-26 → H1FY2026-27+33%^‡
Consolidated net profit (H1 prior year): ₹820.50 → ₹1,267.99 crH1FY2025-26 → H1FY2026-27+55%^‡
Net margin ‡: 10.7% → 10.4%Q2 FY26 → Q2 FY27held ~11%

Consolidated basic EPS (Q2): ₹17.18
Consolidated net profit margin (Q2): 10.38%
Outstanding listed commercial papers: ₹700 crore
Consolidated net cash from operating activities (H1): ₹793.49 crore
Consolidated debt-equity ratio: 0.35

‡ Computed by us from the filing’s own figures — not a company-stated number.

Quarterly results update the financial baseline for holders of SRF, including segment performance across its chemicals, films and textiles businesses and the absence of the prior-year one-off labour-code charge and CER tax write-back that affected year-on-year comparisons. The limited review is not a full audit, and figures remain unaudited.