SRF503806Specialty chemicals
SRF shares fell sharply after Q2 results missed estimates due to weak specialty chemicals and packaging films performance
By ScoutQuest · · 1 min read
Heard on business television between 07:48:20 - 07:51:20 IST.
- Jefferies maintained hold, saying Q2 was a miss led by chemicals, with specialty chemicals margin pressure while refrigerant gas had a strong quarter.
- Packaging films and technical textiles were below estimates as margins gave up inventory gains seen in Q1.
- Morgan Stanley maintained underweight, citing non-fluoro vertical drag and consolidated gross margin fall from raw material cost inflation and sequential demand softness after a strong Q1; stayed cautious as India's R32 refrigerant gas supply is expected to expand materially into 2027.
- UBS maintained sell, noting chemical revenue grew but margins declined amid pricing pressure from China's overcapacity in specialty chemicals, though refrigerant volumes remained robust.
- Analyst noted the Q1 inventory gain that boosted margins did not recur in Q2, a trend expected across the chemical sector.
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Source: Live TV News Channel · 22 Oct 2026
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