Key Financial Performance - Standalone (Q1 FY27)

Revenue and Profitability

  • Revenue from operations: ₹3,801.97 crores (25% YoY growth from ₹3,040.17 crores in Q1 FY26)
  • Sale of products: ₹3,716.14 crores
  • Other operating revenues: ₹85.83 crores
  • Other income: ₹39.28 crores
  • Total Income: ₹3,841.25 crores
  • Profit before exceptional items and tax: ₹759.59 crores (43% YoY growth from ₹532.99 crores)
  • Exceptional item: None in current quarter (₹11.27 crores in Q4 FY26 for New Labour Codes impact)
  • Profit before tax: ₹759.59 crores
  • Tax expense: ₹193.29 crores
  • Current tax: ₹167.10 crores
  • Deferred tax: ₹26.19 crores
  • Net Profit after tax: ₹566.30 crores (43% YoY growth from ₹397.00 crores)
  • Total Comprehensive Income: ₹670.95 crores

Expenses Breakdown

  • Cost of materials consumed: ₹1,887.08 crores
  • Purchases of stock-in-trade: ₹40.92 crores
  • Changes in inventories: (₹170.15) crores
  • Employee benefits expense: ₹255.42 crores
  • Finance cost: ₹50.18 crores
  • Depreciation and amortization: ₹178.21 crores
  • Power and fuel: ₹335.03 crores
  • Exchange currency fluctuation loss: ₹109.76 crores
  • Other expenses: ₹395.21 crores
  • Total expenses: ₹3,081.66 crores

Key Metrics

  • Basic EPS: ₹19.10 (vs ₹13.39 in Q1 FY26)
  • Diluted EPS: ₹19.10
  • Paid-up equity share capital: ₹296.42 crores (29.642 million shares of ₹10 each)
  • Net Worth: ₹13,354.52 crores
  • Other equity: ₹13,058.10 crores

Key Financial Performance - Consolidated (Q1 FY27)

Revenue and Profitability

  • Revenue from operations: ₹5,033.26 crores (32% YoY growth from ₹3,818.62 crores)
  • Sale of products: ₹4,939.20 crores
  • Other operating revenues: ₹94.06 crores
  • Other income: ₹33.91 crores
  • Total Income: ₹5,067.17 crores
  • Profit before exceptional items: ₹979.15 crores (70% YoY growth from ₹575.82 crores)
  • Exceptional item: None in current quarter (₹11.71 crores in Q4 FY26 for New Labour Codes impact)
  • Profit before tax: ₹979.15 crores
  • Tax expense: ₹220.28 crores
  • Current tax: ₹172.40 crores
  • Deferred tax: ₹47.88 crores
  • Net Profit after tax: ₹758.87 crores (75% YoY growth from ₹432.32 crores)
  • Total Comprehensive Income: ₹877.35 crores

Key Metrics

  • Basic EPS: ₹25.60 (vs ₹14.58 in Q1 FY26)
  • Diluted EPS: ₹25.60
  • Net Worth: ₹14,945.66 crores

Segment Performance (Consolidated)

Revenue by Segment

  • Technical Textiles Business (TTB): ₹1,073.74 crores
  • Chemicals Business (CB): ₹3,754.65 crores
  • Performance Films & Foil Business (PFB): ₹100.00 crores
  • Others: ₹104.89 crores
  • Total Segment Revenue: ₹5,033.28 crores
  • Inter-segment revenue: ₹0.02 crores

Profit by Segment (before interest and tax)

  • Technical Textiles Business: ₹107.80 crores
  • Chemicals Business: ₹638.41 crores
  • Performance Films & Foil Business: ₹349.73 crores
  • Others: ₹20.18 crores
  • Total Segment Results: ₹1,116.12 crores

Dividend Declaration

  • Board approved first interim dividend for FY 2026-27 of ₹5.00 per fully paid-up equity share of ₹10 each
  • Total dividend amount: ₹148.21 crores

Exceptional Items and Tax Adjustments

New Labour Codes Impact

  • Effective November 21, 2025, Government consolidated multiple labour legislations into four labour Codes
  • Under Ind AS 19, changes require recognition of past service cost immediately
  • Q4 FY26 impact: ₹11.27 crores (standalone), ₹11.71 crores (consolidated)
  • Full year FY26 impact: ₹84.22 crores (standalone), ₹84.95 crores (consolidated)
  • Company continues to monitor finalization of State Rules and government clarifications

Tax Adjustments

  • Received favorable order from Income Tax Appellate Tribunal for assessment years 2011-12 and 2013-14
  • Order covered taxability of income related to Carbon Emission Reduction Certificates (CERs)
  • Written back tax provisions: ₹99.12 crores during FY26
  • Matter of taxability of CERs yet to attain finality, company will continue re-assessing uncertain tax positions

Financial Ratios and Metrics

Standalone Ratios (Q1 FY27)

  • Debt service coverage ratio: 3.50 (vs 3.13 in Q1 FY26)
  • Interest service coverage ratio: 12.35 (vs 9.39 in Q1 FY26)
  • Operating margin: 21.30% (vs 19.52% in Q1 FY26)
  • Net profit margin: 14.89% (vs 13.06% in Q1 FY26)
  • Debt equity ratio: 0.25 (vs 0.26 in Q1 FY26)
  • Current ratio: 1.39 (vs 1.46 in Q1 FY26)

Consolidated Ratios (Q1 FY27)

  • Debt service coverage ratio: 1.93 (vs 2.58 in Q1 FY26)
  • Interest service coverage ratio: 13.30 (vs 8.55 in Q1 FY26)
  • Operating margin: 20.82% (vs 17.17% in Q1 FY26)
  • Net profit margin: 15.08% (vs 11.32% in Q1 FY26)
  • Debt equity ratio: 0.32 (vs 0.35 in Q1 FY26)
  • Current ratio: 1.21 (vs 1.17 in Q1 FY26)

Commercial Paper Program

  • Listed commercial papers outstanding: ₹200 crores as of June 30, 2026
  • Credit ratings: CRISIL A1+ by CRISIL, IND A1+ by India Ratings
  • All commercial papers due during quarter repaid on respective due dates

Subsidiaries Information

Consolidated results include subsidiaries: SRF Global BV, SRF Flexipak (South Africa) (Pty) Limited, SRF Industries (Thailand) Limited, SRF Industex Belting (Pty) Limited, SRF Europe Kft, SRF Holiday Home Limited, SRF Altech Limited, SRF Middle East LLC, and SRF Employees Welfare Trust

Limited Review Status

  • Limited review completed by statutory auditors B S R & Co. LLP
  • Review conducted pursuant to Regulation 33 and Regulation 52(4) of SEBI LODR Regulations
  • Figures for quarter ended March 31, 2026 are balancing figures between audited annual figures and reviewed quarterly figures

Board Meeting Details

  • Meeting date: July 22, 2026
  • Meeting timing: 10:30 a.m. to 2:35 p.m.
  • Results approved by Board of Directors and reviewed by Audit Committee