SRF503806Chemicals
SRF management sounded upbeat on conference call despite Q3 numbers missing estimates, guiding for upper end of chemicals business margin guidance of 15-20%
By ScoutQuest · · 1 min read
- Chemicals business margin guidance
- 15 to 20 percent
- Aluminium foils markup vs market price
- 15 percent
Heard on business television between 14:31:18 - 14:34:18 IST.
- SRF's numbers were below estimates leading to a sharp stock decline the previous day, but conference call commentary was more positive.
- Management guided to achieve upper end of chemicals business margin guidance of 15-20% despite margin contraction in the segment.
- Said refrigerant business demand and pricing remain stable; aluminium foils business (a new segment) expected to see a 15% markup versus market price.
- Kimose plant progress: first unit from Q4 FY27, second in Q1 FY28, full commercialisation within next 12 months, contributing to P&L from FY29, though exact revenue figures were not given.
- Agrochemical volumes recovering slowly but still under pressure; fluorochemicals business expanding into newer markets amid lower US demand; export momentum seen in Europe especially in aseptic packaging, where new capacities are being added in packaging film segment.
- Company also highlighted focus on sunrise sectors such as energy storage, electronics, semiconductors, cooling solutions, sustainability and aerospace/defense.
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Also from SRF
Morgan Stanley maintained underweight on SRF after Q2 results showed margin pressure
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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
Source: Live TV News Channel · 22 Oct 2026
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