SRF503806Capex expansion plan
Board approves ~Rs. 600 Crores aluminium battery foil project by wholly owned subsidiary
Board approved a project by wholly owned subsidiary SRF Altech to produce Aluminium foil for battery applications in Madhya Pradesh.
By ScoutQuest · · 2 min read
- Estimated Project Cost
- ~Rs. 600 Crores in two phases of Rs. 300 Crores each
- Capacity Addition
- 12000 MTPA
- Completion Timelines
- Phase I by 30 Sept 2028, Phase II by 30 Sept 2030
What was approved
- The Board of Directors, at its meeting held on October 21, 2026, approved a project for setting up a manufacturing facility for the production of Aluminium foil for battery applications.
- The facility will be set up by SRF Altech Limited, a wholly owned subsidiary of the company, at its existing site at Jetapur in the state of Madhya Pradesh.
The cost and capacity figures
- Estimated project cost: approximately Rs. 600 Crores, to be implemented in two phases of Rs. 300 Crores each.
- The details furnished for the first phase list a proposed capacity addition of 12000 MTPA; existing capacity and existing capacity utilisation are marked "Not Applicable".
- Investment required: Rs. 600 Crores.
- Mode of financing: a mix of debt and internal accruals.
Timelines stated
- Phase I: capacity to be added by 30th September, 2028.
- Phase II: capacity to be added by 30th September, 2030.
The company's stated rationale
- To build a portfolio of future-ready value-added products such as battery foil for the Energy Storage and EV sectors.
- The company describes the move as capturing growing opportunities in the Energy Storage and EV sectors in India.
How a retail investor can read this
- This is a board-approved capital expenditure plan, executed through a wholly owned subsidiary, with money spent in two stages over a period of years rather than as a single outlay.
- The total estimated cost of Rs. 600 Crores is matched by the two-phase split, with Rs. 300 Crores aligned to each phase and to each capacity milestone.
- The product is a new line for the group's portfolio aimed at battery applications, so the commercial outcome will depend on the facility coming up as scheduled and on demand for battery foil in these sectors.
- The financing is a blend of borrowings and internal accruals, as stated in the update.
Also from SRF
Morgan Stanley maintained underweight on SRF after Q2 results showed margin pressure
23 Oct 2026
Jefferies maintained a hold rating on SRF citing chemical margin pressure from Q2 results
23 Oct 2026
Brokerages stayed cautious to negative on SRF after Q2 results missed estimates on chemical margin pressure and weak demand
23 Oct 2026
More numbers
- Estimated project costRs. 600 Crores
- Cost of each of the two phasesRs. 300 Crores
- Proposed capacity addition (first phase details)12000 MTPA
- Investment requiredRs. 600 Crores
Source: BSE · 21 Oct 2026
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