Slides
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Q2 FY27 Results Presentation Oct 22 , 2026
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2 Table of Contents Strategic OutlookQ2 FY27 Results Company Overview Governance 01 02 03 04
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Q2 FY27 RESULTS 3
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4 Performance Delivered 35% 26% 30% 31% Business Performance CB TTB PFB 25% 25% 51% Revenue Growth (YoY) Consolidated Financials INR Crores Building Growth | WITH PURPOSE 3,640.2 4,904.2 Q2 FY26 Q2 FY27 Revenue from Operations 650.1 816.0 18% 17% Q2 FY26 Q2 FY27 Operational EBIT & Margin 517.1 671.0 14% 14% Q2 FY26 Q2 FY27 PBT & Margin 388.2 509.1 11% 10% Q2 FY26 Q2 FY27 PAT & Margin
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5 31% 388 433 582 759 509 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 PAT A Strong Growth Trajectory Growth With| ACCOUNTABILITYConsolidated Financials INR Crores 35% 26% 30% 650 653 1,011 1,116 816 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Operational EBIT 517 452 757 979 671 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 PBT 3,640 3,713 4,615 5,033 4,904 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue from Operations
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6 Revenue Share CB PFB TTB Others CB – Chemicals Business; PFB - Performance Films & Foil Business;TTB – Technical Textiles Business; Others Consolidated Financials INR Crores Driving Innovation| ACROSS BUSINESSES 45.8% 38.7% 13.0% 2.5% Total – 3,640.2 Cr. Q2 FY26 1,666.9 1,408.1 474.3 90.8 42.4% 43.3% 12.1% 2.2% Total – 4,904.2 Cr. Q2 FY27 2,079.5 2,122.4 595.1 107.2
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7 Operational EBIT Share CB PFB TTB Others CB – Chemicals Business; PFB - Performance Films & Foil Business;TTB – Technical Textiles Business; OthersConsolidated Financials INR Crores Delivering Performance| WITH PURPOSE 74.0% 18.3% 6.5% 1.2% Total – 650.1 Cr. Q2 FY26 481.3 119.0 42.3 7.5 64.7% 25.3% 8.9% 1.2% Total – 816.0 Cr. Q2 FY27 527.8 206.2 72.3 9.7
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8 Chemicals Business (CB) Key Highlights & Outlook Fluorochemicals • Strong Q2 revenue growth led by higher HFC volumes and improved realization. • Aggressive expansion in new markets helped offset softness in the US market. • Domestic leadership sustained, supported by robust passenger vehicle demand. • PTFE ramp-up is progressing strongly, with the product mix evolving favourably towards value-added grades such as fine-cut, Micropowder and pre-sintered. • PVDF commissioning is on track for Q3 FY27 capitalization, key customer outreach has been completed with sample approvals expected in coming months. • Chemours projects remains on track and is progressing well. • Margins remained healthy despite elevated raw-material, freight and fuel costs, supported by effective cost pass-through. • Next-gen HFO capex is progressing as planned; key regulatory approvals secured. • Focus remains on full utilization of HFC capacities during the baseline period. • Refrigerant demand and pricing is expected to remain stable despite usual seasonality, with higher volumes from new markets expected to continue to offset softer US demand. 25% 10% Consolidated Financials INR Crores Chemistry that Powers | PROGRESS 1,667 2,079 Q2 FY26 Q2 FY27 CB Revenue 481 528 29% 25% Q2 FY26 Q2 FY27 CB Operational EBIT & Margin
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9 Chemicals Business (CB) Key Highlights & Outlook Specialty Chemicals • Recovery in agrochemical volumes is visible across select pockets, supported by strong customer relationships. • Technology-led cost initiatives and operational efficiencies continue to help offset higher input and fuel costs. • Recent progress on customer registrations for select active ingredients, in key initial markets, is improving visibility for future demand. • Pharma pipeline continues to progress well, with encouraging traction in select molecules with key western world customers. • Actively developing products to participate in niche applications targeted at emerging and sunrise sectors. 25% 10% Consolidated Financials INR Crores Chemistry that Powers | PROGRESS 1,667 2,079 Q2 FY26 Q2 FY27 CB Revenue 481 528 29% 25% Q2 FY26 Q2 FY27 CB Operational EBIT & Margin
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10 119 206 8% 10% Q2 FY26 Q2 FY27 Operational EBIT & Margin Performance Films & Foil Business Key Highlights & Outlook Films • Strong growth delivered across all geographies, despite a volatile operating environment. • Value-added product portfolio gained traction, led by offline-coated and metallized products across geographies. • Capacitor-grade films is scaling up well, with key customer approvals secured and commercial sales progressing. • The operating environment is expected to remain volatile; focus remains on increasing the value-added portfolio and ensuring high asset utilization. Foil • Export traction has gained strength, particularly across European markets. • Aseptic packaging qualification with global leaders like Tetra Pak establishes revenue streams from a new value-added application. • Expanding into higher-value applications like energy storage to create a new growth platform. 51% 73% Consolidated Financials INR Crores Excellence| WRAPPED 1,408 2,122 Q2 FY26 Q2 FY27 Revenue
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11 42 72 9% 12% Q2 FY26 Q2 FY27 Operational EBIT & Margin 474 595 Q2 FY26 Q2 FY27 Revenue Technical Textiles Business Key Highlights & Outlook • Strong operating momentum sustained in Q2, with healthy performance across key product segments. • Belting fabrics delivered a record performance, supported by strong exports and new customer additions. • Value-added portfolio expanded further, with new product commercialization and customer approvals progressing well. • N66 Tyre cord fabrics and PTCF scale-up remains on track, with customer approvals expected to support higher volumes. • New dipping capacity is expected to support higher throughput and strengthen Tyre cord fabrics performance post commissioning. • Business is expected to remain stable, supported by expansion into export markets as well as higher-value applications. 25% 71% Strength that Moves| THE WORLDConsolidated Financials INR Crores
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STRATEGIC OUTLOOK 1 2 12
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13 “An innovation led materials and chemicals company that turns deep expertise into new, and high-value businesses." Redefining Possible| EVERYDAY
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14 An Innovation Led Materials & Chemicals Company Specialty & Chemicals Platform Complex chemistries capability Performance Materials Platform Reinforcement Materials Platform Functional materials capability Reliable Performance Capability Global manufacturing footprint India, Thailand, South Africa and Hungary Leadership across markets Strong position in multiple businesses High-entry-barrier positioning Regulated, technical and quality-sensitive markets Sustainability-led innovation Future-ready materials and cleaner technologies Integrated Chemistry & Material Science leader Advanced chemistries | Material science | Innovation & Technology leadership Science-to-scale execution From lab capability to commercial manufacturing A Legacy of Innovation| AND GROWTH • Advanced chemistries • High-end intermediates • Advanced fluorination • Next-gen cooling solutions • High-end fluoropolymers Materials designed for • Barrier protection • Processability & aesthetics • Sustainability • High-value applications • Strength and durability • Performance fabrics • Fabrics & yarns for high end applications
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15 Addressing Sunrise Sectors Semiconductors Energy Storage Environment, Sustainability, & Renewables Innovation With| Responsibility Next Generation Cooling Solutions A Billion $+ Revenue Opportunity Spanning Aerospace & Defense Electricals & Electronics
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16 Our Progress Thus Far Shaping Innovation| ENABLING PERFORMANCE Product 1. For battery applications. Board approval obtained in Oct 26. 23 months implementation timeline for Phase 1. 2. For battery cathode binders and separator coatings. Final commissioning underway & project is on track. Product Application & Status 1. Aluminium Foil Detailed slides follow 2. PVDF Energy Storage Semiconductors 1. For wafer cleaning & wet etching. Site work underway; Q3 FY’28 capitalization. 2. For wafer & reactor cleaning. Product sampling and optimization is underway. 3. For plasma etching. Product sampling and optimization is underway. 4. For chemical handling, tubing & equipment components. PVDF final commissioning underway. PTFE customer sampling is underway. 1. EHF 2. AHCL 3. CHF3 & CH2F2 4. PTFE & PVDF 1. Commissioned in Q1 FY’27. Approvals secured from many key customers and progressing well with others. Commercial sales have commenced. 2. For capacitors. Approvals secured from key customers. Commercial sales expected from Q3 FY’27. 3. For cable and motor insulation. Project under implementation post Board approval in Jul 26. 4. For high frequency cable insulation. Customer connect initiated. 5. For flexible wire & data cable insulation. Q1 FY’28 capitalization. 1. Capacitor Grade Film 2. Aluminium Foil 3. Polyester Thick Film 4. PTFE 5. FEP Electricals & Electronics
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17 Our Progress Thus Far Shaping Innovation| ENABLING PERFORMANCE Product Product Application & Status 1. HFO’s : 4th generation refrigerants 1. For mobile, room air conditioning, & data center cooling solutions. Environmental clearance received and project is on track for capitalization in Q4 FY’28. 1. PTFE & PVDF 1. For wire insulation and protective coatings. Discussions initiated with customers for product development. Next Generation Cooling Solutions Aerospace & Defense 1. For weather resistant solar panel backsheets. Final commissioning underway & project is on track. 2. For solar PV backsheets. Project under implementation post Board approval in Jul 26. 1. PVDF 2. Polyester Thick Film Environment, Sustainability, & Renewables
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18 Traditional Markets Packaging Pharma Food Emerging High-Value Added Applications Battery Energy Storage Systems EV Batteries High Value-Added Applications Alu-Alu (Pharma) Aseptic Packaging • Accelerate the shift towards value-added foil applications with battery foil as a high-potential growth opportunity. • Growing demand for battery energy storage systems, electric mobility and domestic cell manufacturing. Emerging Aluminium Foil Opportunity for SRF Innovating Every Layer| BEYOND PACKAGING
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19 A critical current-collector material inside batteries. BATTERY FOIL Thin aluminium or copper foil used as the current collector inside a battery. ALUMINIUM FOIL Typically used for the cathode or positive electrode. CURRENT COLLECTOR What is Battery Foil? Engineered for| HIGH-PERFORMANCE PRECISION
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20 Aluminium Foil for Battery Applications Performance| BUILT RELIABLE A structural growth opportunity driven by battery energy storage systems, electric mobility and domestic cell manufacturing BESS & EV demand is expanding the battery market Cell makers require consistent, dependable critical material partners SRF can build on its existing aluminium foil capabilities Battery foil is key to building India’s domestic battery ecosystem A lightweight, conductive and stable cathode current collector, aluminium foil, designed for high-volume battery manufacturing HIGH-VALUE GROWTH SEGMENT
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21 India’s Battery Scale Up: a Compelling Foil Opportunity Excellence| EVERYDAY EV EV Lithium Batteries Electric mobility G Grid Batteries BESS and peak balancing RE Renewable Storage Solar and wind integration Na Sodium-ion Batteries Emerging cost-focused platform POLICY-BACKED SCALE-UP ₹18,100 cr ACC PLI scheme outlay 40 GWh Awarded 58 GWh Additional waitlisted capacity
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22 Strategic Priorities Sustainability That| SHAPES TOMORROW Make in India Build for sunrise sectors Focus on value-addition Create cross- business platforms Leverage synergies with existing businesses
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COMPANY OVERVIEW 2 3 23
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24 90+ Countries- Exports 5 Countries- Operations 16 Manufacturing Facilities 9,500+ Global Workforce ₹15,787 cr. Revenue ₹ 3,705 cr. EBIDTA ₹ 1,835 cr. PAT 49% Chemicals 14% Technical Textiles & Others 37% Performance Films & Foil Powering Progress| TOGETHER A Snapshot of 50+ Years On a consolidated basis as on March 31, 2026
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25 CTG : Our Innovation Powerhouse Redefining Chemicals| EVERYDAY
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26 R&D Capabilities & Innovation Redefining Value| EVERYDAY
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27 World Class Competitive Manufacturing Backward integration = cost leadership In-house HF / AHF and resin plant — secures raw-material supply continuity at competitive cost. Global manufacturing network 16 facilities across India, Thailand, South Africa & Hungary — serving customers in 90+ countries. Scale & high utilisation Large integrated complexes running at high, record utilization — driving strong operating leverage and low per unit cost. World-class quality systems ISO 14001 & Responsible Care® certified; qualified into demanding agro, pharma & electronics value chains. Operational excellence & reliability Continuous improvement, waste-heat recovery, modernized utilities and 46% reduction in LTIFR in FY 26. Sustainable & future- ready 42% renewable electricity, 11 ZLD complexes & 13,238 MWh saved through energy efficiency measures in FY 26 By the numbers 16 Manufacturing sites 5 Countries of operation 90+ Countries served 42% Renewable electricity 11 ZLD complexes Accountability Guiding| SUSTAINABLE GROWTH
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28 Powering Performance| ACROSS EVERY LAYER ₹15,787 cr Revenue 75% 17% 6% 2% ₹3,008 cr Operational EBIT Chemicals Performance Films & Foil Technical Textiles Others FY 26 Consolidated Overview Geographically Diverse Customer Base 51% Export revenue The Profit Engine 75% Chemicals Contribution 49% 21% 7% 23% India US & EU MEA Others
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29 Financial Overview Consolidated figures Key Financial Ratios Particulars FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 EBIDTA Margin 21.42% 17.69% 19.00% 20.90% 26.05% 25.30% 24.94% 20.88% 20.22% 23.47% PAT Margin 10.87% 8.38% 8.33% 12.70% 14.26% 15.19% 14.54% 10.17% 8.51% 11.63% Net Debt to Equity 0.67 0.82 0.83 0.76 0.39 0.32 0.32 0.36 0.28 0.27 Net Debt to EBIDTA 2.11 3.01 2.42 2.48 1.24 0.87 0.88 1.49 1.19 1.02 Asset Turnover 0.68 0.66 0.72 0.66 0.65 0.79 0.79 0.64 0.68 0.65 Debtors Turnover 7.21 8.10 6.90 8.09 6.64 6.94 8.33 6.76 6.77 6.16 Built for Scale| DESIGNED FOR TRUST
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30 Aspirations 2030 Where Purpose| DRIVES POTENTIAL
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GOVERNANCE 3 1 31
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32 Our Board BOARD COMPOSIT ION 10 DIRECTORS 315+ Years of Consolidated Experience on the Board 2 Women Independent Directors 57 Years median age A balanced Board combining executive insight with strong entrepreneurial capability and independent oversight. 25 BOARD & COMMITTEE MEETINGS during FY 2025-26 >85% AVERAGE ATTENDANCE at Board and Committee meetings 6 BOARD-LEVEL COMMITTEES with clearly defined mandates GOVERNANCE EXCELLENCE 100% Independent Audit Committee All three members are Independent Directors 3 Independent directors-led Committees Audit, NRC and Stakeholders’ Relationship TCWG Independent director-led TCWG TCWG is led by Independent director 1 Independent Directors’ Meeting Held without management and Non-Independent Directors 3 dimensions Board skills matrix Industry knowledge, technical skills and behavioural competencies RMC RMC Committee Comprehensive oversight of operational, structural and strategic risks of the company 60% INDEPENDENT A healthy mix of independent oversight, experienced entrepreneurship, stewardship and disciplined engagement Integrity Guided| IN EVERY ACTION Independent Executive Non Executive Non Independent
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33 Sustainability 42% RENEWABLE ELECTRICITY Of total electricity procured from renewable sources 14% SCOPE II EMISSIONS reduction from previous year 10% WASTEWATER DISCHARGE reduction from previous year 7% WATER RECYCLING increase from previous year 11 ZLD FACILITIES strengthening responsible wastewater management 156 PATENTS GRANTED till date 5.17+ lakhs CSR BENEFICIARIES reached through community initiatives 2.37+ lakhs TRAINING HOURS building workforce capability 46% LTIFR decrease in safety incident frequency 77.3% SUSTAINABLE SOURCING inputs sourced sustainably 3.9% ENERGY INTENSITY per rupee of turnover, adjusted for PPP reduction from previous year 1084 NUMBER OF FEMALE WORKFORCE through enhanced women participation Advancing resource efficiency, climate action and inclusive value creation Protecting the Planet| POWERING PROGRESS As on March 31, 2026
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34 Societal • Supported schools excelling at block and district-level competitions. • 41 students secured winning positions, while several teams and individual athletes advanced to state-level events following strong performances across football, kho-kho, handball, athletics and badminton. • These accomplishments reflect the growing confidence, discipline and teamwork being nurtured among young learners. • SRF Foundation collaborated with the District Institute of Education & Training in Nuh, and the State Council of Educational Research and Training in Gurugram. • More than 70 teachers were trained in digital literacy helping them integrate technology more effectively into teaching and learning processes. Students Shine Across Sporting Arenas Strengthening Education Changing Lives| BRINGING SMILES
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35 ESG Awards & Recognition External validation across sustainability leadership, circularity and community impact SUSTAINABILITY RANKING Top 3 in Chemicals & Industrial Gasses Among BW India’s Top 60 Most Sustainable Companies 2024 -25, within the IMSC universe of the Top 200 companies. ECOVADIS RATINGS Gold and Silver rated facilities Gold for Chemicals Business at Dahej; Silver for Technical Textiles facilities at Gummidipoondi, Viralimalai and Manali. CII 4R AWARDS 2025 Award of Merit Exemplary waste management through innovative solutions. BHAMASHAH AWARD Education Government of Rajasthan recognition. CSR TIMES AWARD 2025 Gold Award Rural Education Program in Mewat. CSR-DIW AWARD 2025 Community Responsibility SRF Industries Thailand recognised for social responsibility. CII 4R AWARDS 2025 Top 25 Leading Industries PFB recognised for minimising and managing waste across India. NQAS CERTIFICATION Healthcare Ministry of Health and Family Welfare. Real Impact| REAL STORIES As on March 31, 2026
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36 About Us Established in 1970, SRF Limited is a diversified chemicals conglomerate with a strong global presence. Its businesses span Fluorochemicals, Specialty Chemicals, Performance Films & Foil, Technical Textiles, and Coated and Laminated Fabrics—serving a wide range of industries across more than 90 countries. With a workforce of over 9,500 employees representing multiple nationalities, SRF operates 16 manufacturing facilities across India, Thailand, South Africa, and Hungary, along with a growing international footprint that includes an office in Dubai. Backed by state-of-the-art R&D capabilities, the company has filed 539 patents, with 160 patents granted —reinforcing its commitment to innovation and technology leadership. A two-time recipient of the prestigious Deming Prize for its Tyre Cord and Chemicals businesses, SRF continues to embed Total Quality Management (TQM) at the heart of its operations, driving excellence and continuous improvement across the organization. For further informationplease contact Tel: +91 98330 90434 Anoop Poojari CDR India Email: anoop@cdr-india.com 36 36 36
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37 Disclaimer 37 37 37 Some statements in this document may be forward-looking. Such statements are subject to certain risks and uncertainties like regulatory changes, local, political or economic developments, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks related to an economic downturn in any of the countries where SRF Limited has its manufacturing and / or commercial footprint. SRF Limited may, from time to time, make additional written and oral forward- looking statements, including communication to stakeholders. The company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward- looking statements to reflect subsequent events or circumstances.
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Thank You