Shares of SRF Ltd slid 6.5% to ₹2,302.1 on Thursday, reflecting a sharp market reaction to the earnings miss.
The company reported net profit of ₹509 crore in Q2, a 31.2% jump from ₹388 crore in the same quarter last year, yet below the ₹598 crore estimate gathered by CNBC‑TV18.
Revenue climbed 34.7% to ₹4,904 crore, beating the ₹4,695 crore forecast and rising from ₹3,598 crore in Q2 2025.
EBITDA rose 22.1% to ₹946 crore, still trailing the ₹1,055 crore consensus, while the margin slipped 200 basis points to 19.3% from 21.3% a year earlier.
Segment analysis: Performance films & foil grew 51% to ₹2,122 crore, operating profit up 73%; chemicals revenue rose 25% to ₹2,079 crore; technical textiles up 25% to ₹595 crore.
Board approval of a ₹600 crore, two‑phase battery‑grade aluminium‑foil plant—12,000 MTPA capacity, ₹300 crore each—will start in September 2028 and 2030, potentially reshaping the company’s margin profile.
Analysts now target Q3 revenue of 35% YoY growth, with investors monitoring how the new plant will lift EBITDA margins; SRF remains 25% lower on the year‑to‑date basis.