Q2 FY27 revenue up 35%, PAT up 31%; Board approves ₹600 crore aluminium foil investment
Q2 FY27 consolidated revenue ₹4,904 crore, up 35% from ₹3,640 crore; PAT ₹509 crore, up 31% from ₹388 crore.
By ScoutQuest · · 2 min read
- Q2 FY27 consolidated revenue
- ₹4,904 crore, up 35% from ₹3,640 crore
- Q2 FY27 PAT
- ₹509 crore, up 31% from ₹388 crore
- Board-approved capex
- about ₹600 crore for battery-grade aluminium foil plant of about 12,000 metric tons per annum, in two phases
Results at a glance
- Consolidated revenue for Q2 FY27 (quarter ended September 30, 2026) was ₹4,904 crore, up 35% from ₹3,640 crore in the corresponding period last year.
- Operating EBIT was ₹816 crore, up 26% from ₹650 crore.
- Profit after tax was ₹509 crore, up 31% from ₹388 crore.
- For H1 FY27, revenue was ₹9,937 crore, up 33% from ₹7,459 crore, and profit after tax was ₹1,268 crore, up 55% from ₹820 crore.
The release describes these as unaudited consolidated results approved by the Board of Directors at a meeting held earlier the same day.
Segment performance
- Chemicals: revenue ₹2,079 crore, up 25% from ₹1,667 crore; operating profit ₹528 crore, up 10% from ₹481 crore. The release cites robust refrigerant sales volumes and positive pricing momentum, while the Specialty Chemicals business dealt with evolving global pricing trends, industry overcapacity in China and geopolitical developments.
- Performance Films & Foil: revenue ₹2,122 crore, up 51% from ₹1,408 crore; operating profit ₹206 crore, up 73% from ₹119 crore. The business recorded its highest-ever packed production of films; Q2 demand was moderated by inventory build-up after heightened buying in Q1, while aluminium foil demand stayed healthy.
- Technical Textiles: revenue ₹595 crore, up 25% from ₹474 crore; operating profit ₹72 crore, up 71% from ₹42 crore.
- Other Businesses: revenue ₹107 crore, up 18% from ₹91 crore; operating profit ₹10 crore, up 29% from ₹8 crore.
New capex approved
- The Board approved an investment of approximately ₹600 crore to establish a battery-grade aluminium foil manufacturing facility in India.
- The proposed facility will have a total capacity of approximately 12,000 metric tons per annum and will cater to lithium-ion (Li-ion) and sodium-ion (Na-ion) battery applications, aimed at energy storage and electric mobility demand.
- The investment is proposed in two phases, with an estimated project cost of ₹300 crore for each phase. Phase I is expected to be completed by September 2028, followed by Phase II by September 2030.
What management said
Chairman and Managing Director Ashish Bharat Ram said the businesses delivered a strong performance "despite an uncertain and volatile global environment", and that capex investments targeting sunrise sectors remain "extremely robust", positioning the company for the future.
Innovation and recognition
- As of September 30, 2026, the company had shared 539 patent applications and been granted 160 patents globally.
- SRF was recognised as the Overall Winner in the 'Best Supply Chain Solution' category at the Adam Smith Awards Asia 2026.
How to read this announcement
This is a results announcement combined with a fresh investment approval. The quarterly figures show growth in revenue and profit, with the segment section showing which businesses grew faster. The foil project is an approved investment spread over two phases, with completion timelines extending to September 2030, so the spending and any output from it would come in later years rather than immediately.
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
- Q2 FY27 consolidated revenue₹4,904 crore
- Q2 FY27 revenue growth YoY35%
- Q2 FY27 profit after tax₹509 crore
- Q2 FY27 PAT growth YoY31%
- Board-approved investment in aluminium foil facility₹600 crore
- Proposed facility capacity per annum12,000 metric tons per annum
- H1 FY27 revenue₹9,937 crore
- H1 FY27 PAT growth YoY55%
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