8% — Shares of SRF surged from Thursday's low as the company confirmed a 31.2% YoY rise in Q2 net profit, nudging the NSE‑listed stock back toward its 52‑week high. The jump came after the firm’s earnings call, where management reiterated confidence in delivering the upper end of its FY27 chemical‑business guidance.
Q2 results: Net profit hit ₹509 crore, 31.2% higher than ₹385 crore in FY26‑Q4, but fell short of the ₹598 crore estimate compiled by CNBC‑TV18. Revenue rose 34.7% to ₹4,904 crore versus the ₹4,695 crore consensus, giving the company a 3.2% upside to expectations. EBITDA climbed 22.1% YoY to ₹946 crore, yet slid 200 basis points to 19.3% from 21.3%, missing the 22.5% margin target.
Chemicals business: Management reiterated a 15‑20% growth target for FY27, with two Chemours plants on schedule. The first plant is slated for commissioning in FY27Q4, the second in FY28Q1, with full ramp‑up projected by FY29. Rapid expansion into new markets has offset softness in US fluorochemicals, and agro‑chemical volumes are recovering in key regions.
Battery‑grade aluminium foil: SRF announced a ₹600 crore capex for a new foil plant in Madhya Pradesh, split into two phases. Phase‑one, ₹300 crore, will finish in 23 months and target battery and energy‑storage applications. Management expects a 50% markup on foil sales versus aluminium price, signalling a value‑add push.
Forward outlook: The company will release FY27 guidance on October 30, with analysts expecting net profit to rebound to ₹700 crore and EBITDA margin to climb to 22% as chemical plants reach full capacity. Investors are watching the upcoming FY27 guidance and the progress of the Chemours projects, which could lift the stock further.