Interim report
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SRF LIMITED Block-C Sector 45 Gurugram 122 003 Haryana India Tel: +91-124—4354400 Fax: +91-124—4354500 E-mail: info@srf.com Website: www.srf.com Regd. Office: Unit No. 236 & 237, 2nd Floor DLF Galleria, Mayur Place Noida Link Road Mayur Vihar Phase 1 Extension Delhi 110091 Corporate identity No. L181010L1970PLC005197 The Corporate Relationship Department, BSE Limited 1st Floor, New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Mumbai 400 001 Scrip Code- 503806 National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex Bandra (E) Mumbai 400 051 Scrip Code-SRF SRF/SEC/BSE/NSE 21.10.2026 Dear Sir, Unaudited Financial Results for the quarter and half year ended 30.09.2026 alongwith Limited Review Report for the quarter and half year ended 30.09.2026 Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at its meeting held today i.e. 21st October 2026 (commenced at 11.00 a.m. and concluded at 2.35 p.m.) has inter-alia considered and approved – 1. Unaudited Consolidated Financial Results for the quarter and half year ended 30.09.2026 (copy enclosed alongwith Limited Review Report by Statutory Auditors for quarter and half year ended 30.09.2026) 2. Unaudited Standalone Financial Results for the quarter and half year ended 3 0.09.2026 (copy enclosed alongwith Limited Review Report by Statutory Auditors for quarter and half year ended 30.09.2026) Thanking you, Yours faithfully, For SRF LIMITED Rajat Lakhanpal Sr. VP (Corporate Compliance) & Company Secretary Encl: As above
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BS R & Co. LLP Chartered Accountants Building No . 10, 12th Floor, Tower-C DLF Cyber City, Phase - II Gurugram - 122 002 , India Tel : +91 124 719 1000 Fax: +91 124 235 8613 Limited Review Report on unaudited standalone financial results of SRF Limited for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 and Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended To the Board of Directors of SRF Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of SRF Limited (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 ("the Statement"). 2. This Statement, which is the responsibility of the Company 's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting princip les generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the Secur ities and Exchange Board of India (Listing Obl igations and Disclosure Requirements ) Regulations, 2015, as amended ("Listing Regulations") , as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. Our responsibility is to issue a report on the Statement based on our review. 3. We conduc ted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries , primari ly of persons responsible for financial and accounting matters, and applyin g analytical and other review procedures. A review is substant ially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enab le us to obtain assurance that we would become aware of all significant matters that might be identi fied in an audit. Accordingly , we do not express an audit opinion . 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompany ing Statement , prepared in accord ance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting prin ciples genera lly accepted in India , has not discl osed the informati on required to be discl osed in terms of Regulation 33 and Regulation 52(4) of the Listing Regulations , as prescri bed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/ CIR/ 2021/613 dated 10 August 2021, as amended , in cludin g the manner in which it is to be disclosed , or that it contains any material misstatement. For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 Gurugram 21 October 2026 BSR&Co .(a partnership firm with Registration No. BA61223) converted into8 SR& Co.LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 Rajesh Arora Partner Membership No.: 076124 UDIN: 26076124CLJTDV7128 Registered Office: 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 1
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O SFE SRF LIMITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 $RF. General lestnced use]- This mal, document can be used by repents for ts w#ended purpose only
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O SF€ SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi- 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.com Website: www.srf.com CIN --L 18101 DL1970PLC005197 STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (Rs. in Crores, except per share data) Standalone S.No . Particulars Quarter Ended Half Year Ended Year Ended 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (1) (2) (3) (4) (5) (6) Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Revenue from operations a. Sale of products 3718.10 3716.14 2751.33 7434.24 5717.34 12071.86 b. Other operating revenues 90.51 85.83 101.63 176.34 175.79 348.65 Total Revenue from operations 3808.61 3801.97 2852.96 7610.58 5893.13 12420.51 2 Other income 27.78 39.28 30.05 67.06 65.00 128.78 3 Total Income 3836.39 3841.25 2883.01 7677.64 5958.13 12549.29 4 Expenses a. Cost of materials consumed 1945.64 1887.08 1427.14 3832.72 2836.17 5766.91 b. Purchases of stock-in-trade 41.90 40.92 43.18 82.82 76.89 128.13 c. Changes in inventories of finished goods, work-in-progress and stock in (76.40) (170.15) (199.52) (246.55) (223.44) (263.98) trade d. Employee benefits expense 256.38 255.42 228.72 511.80 458.32 943.78 e. Finance costs 50.74 50.18 52.37 100.92 112.74 205.61 f. Depreciation and amortisation expense 183.60 178.21 170.11 361.81 335.62 688.54 g. Power and fuel 337.83 335.03 288.85 672.86 598.79 1158.54 h. Exchange currency fluctuation (gain)/ loss 66.59 109.76 29.41 176.35 24.86 196.76 i. Other expenses 441.90 395.21 360.19 837.11 722.63 1467.29 Total expenses 3248.18 3081.66 2400.45 6329.84 4942.58 10291.58 5 Profit before exceptional items and tax for the period 588.21 759.59 482.56 1347.80 1015.55 2257.71 6 Exceptional item - . . . . 84.22 - One time Impact of New Labour Codes (Refer Note 7) 7 Profit before tax for the period 588.21 759.59 482.56 1347.80 1015.55 2173.49 8 Tax expense a) Current tax expense 120.91 167.10 101.61 288.01 212.77 452.96 b) Current tax adjustment related to earlier years (Refer Nole 8) . - - . - (99.12) c) Deferred tax expense 28.82 26.19 18.29 55.01 43.12 95.02 9 Net Profit after tax for the period 438.48 566.30 362.66 1004.78 759.66 1724.63 10 Other Comprehensive Income A. Items that will not be reclassified to profit or loss (i)(a) Gain/ (loss) on remeasurement of defined benefit obligation 3.50 (5.10) 2.13 (1.60) (1.45) (0.47) (i)(b) Income tax on item (i)(a) above (0.89) 1.29 (0.53) 0.40 0.37 0.12 B. Items that will be reclassified to profit or loss (i)(a) Effective portion of gain / (loss) on hedging instruments in a cash flow 9.01 144.94 (228.91) 153.95 (239.09) (472.81) hedge (i)(b) Income tax on item (i)(a) above (2.27) (36.48) 57.61 (38.75) 60.17 119 .00 11 Total Other Comprehensive Income I (loss) for the period 9.35 104.65 (169.70) 114.00 (180.00) (354.16] 12 Total Comprehensive Income for the period 447.83 670.95 192.96 1118. 78 579.66 1370.47 13 Paid up equity share capital (Rs.10 each fully paid up) 296.42 296.42 296.42 296.42 296.42 296.42 14 Other equity excluding revaluation reserve 13361 .83 13058.10 11736 .56 13361.83 11736.56 12383.11 15 Net Worth 13658.25 13354.52 12032.98 13658.25 12032.98 12679.53 16 Capital Redemption Reserve 10.48 10.48 10.48 10.48 10.48 10.48 17 Basic EPS for the period (not annualised) 14.79 19.10 12.23 33.89 25.62 58.18 18 Diluted EPS for the period (not annualised) 14.79 19 .10 12.23 33.89 25.62 58.18 Net Worth= Paid up share capital (excluding forfeited shares) + Other equity SF. General [Restricted use]- Th mail, document can be used by recipients for its intended purpose only
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O sFe SRF LIMITED Registered Office:The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Neida Link Road, Mayur Vihar Phase I Extn, Delhi- 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.comWebsite:www.srf.com CIN --L 18101DL 1970PLC005197 STATEMENT OF STANDALONE UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (Rs. in Crores) Standalone Quarter Ended Half Year Ended Year Ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (1) (2) (3) (4) (5) (6) Unaudited Unaudited Unaudited Unaudited Unaudited Audited Segment Revenue a) Technical Textiles Business (TTB) 595.11 596.84 474.34 1191.95 940.89 1877.00 b) Chemicals Business (CB) 2078.05 2244.18 1677.57 4322.23 3510.10 7726.38 c) Performance Films and Foil Business (PFB) 1028.21 856.08 610.22 1884.29 1256.39 2450.82 d) Others 107.24 104.89 90.83 212.13 185.75 366.38 Total Segment Revenue 3808.61 3801.99 2852.96 7610.60 5893.13 12420.58 Less: Inter Segment Revenue . - 0.02 . 0.02 . 0.07 Revenue from Operations 3808.61 3801.97 2852.96 7610.58 5893.13 12420.51 Segment Results (Profit before interest and tax from each Segment) a) Technical Textiles Business (TTB) 72.17 107.67 42.16 179,84 79.67 189.54 b) Chemicals Business (CB) 538.85 614.91 475.46 1153.76 971.18 2269.16 c) Performance Films and Foil Business (PFB) 92.54 129.69 68.77 222.23 157.20 292.73 d) Others 9.68 20.18 7.50 29.86 20.93 47.03 Total Seament Results 713.24 872.45 593.89 1585.69 1228.98 2798.46 Less/(Add): i) Finance Costs 50.74 50.18 52.37 100.92 112.74 205.61 Ii) Other Unallocable Expenses (net of income) 74.29 62.68 58,96 136.97 100,69 335.14 iii) Exceptional item- One time Impact of New Labour Codes (Refer Note 7) - . - - - 84.22 Profit before tax for the period 588.21 759.59 482.56 1347.80 1015.55 2173.49 Segment Assets a) Technical Textiles Business (TTB) 2302.99 2376,92 2118.19 2302.99 2118 .19 2175.56 b) Chemicals Business (CB) 12855.81 12331.77 11453.06 12855.81 11453.06 11737.20 c) Performance Films and Foil Business (PFB) 3789.54 3678.05 2647.61 3789.54 2647.61 3226.28 d) Others 230.02 239.06 231.88 230.02 231.88 239.16 Total segment assets 19178.36 18625.80 16450.74 19178.36 16450.74 17378.20 e) Unallocable 1982.15 2081.46 1837.32 1982 .15 1837.32 2460.30 Total 21160.51 20707.26 18288.06 21160.51 18288.06 19838.50 Segment Liabilities a) Technical Textiles Business (TTB) 361.61 502.52 327.20 361.61 327.20 334.06 b) Chemicals Business (CB) 1420,58 1384.04 1121 .11 1420.58 1121 .11 1299.66 c) Performance Films and Foil Business (PFB) 635.52 642.50 518.34 635.52 518.34 600,30 d) Others 45.25 45.07 33.47 45.25 33.47 42.50 Total segment liabilities 2462.96 2574.13 2000.12 2462.96 2000.12 2276.52 e) Unallocable 5038.28 4777.59 4253.94 5038.28 4253.94 4881.43 Total 7501.24 7351.72 6254.06 7501.24 6254.06 7157.95 SR .General [Hestricted use]- Ihs mal, document can be used by recipients for its intended purpose only
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v-0 SFF SRF LIMITED Registered Office:The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Naida Link Road, Mayur Vihar Phase I Extn, Delhi- 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.comWebsite:www.srf.com CIN--L 18101DL 1970PLC005197 NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 21, 2026. The Limited review report of the Statutory Auditors is being filed with BSE Limited and National Stock Exchange of India Limited. For more details on the standalone results, visit the Investors section of our website at www.srf.com and financial results at "Corporates Announcements" section of www.nseindia.com and www.bseindia.com. 2 These financial results of the Company have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 3 The listed commercial papers aggregating to Rs. 700 crores were outstanding as on September 30, 2026, The Company's commercial paper programme has been rated as CRISIL A1+ by CRISIL and IND A1+ by India Ratings. During the quarter and half year ended September 30, 2026, the Company has repaid all commercial papers due and payable on the respective due dates. 4 Additional disclosures as per Clause 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Ratios / percentages as applicable) Standalone SI. Quarter Ended Half Year Ended Year Ended No. Particulars • 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (1) (2) (3) (4) (5) (6) Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Debt service coverage ratio [(Earnings before depreciation, interest and tax less 2.85 3.50 3.33 3.17 3.22 3.30 current tax) / (Gross interest and lease payments + scheduled principal repayment of long term debts)] - Not annualised 2 Interest service coverage ratio [(Earnings before depreciation, interest and tax 10.1 4 12.35 10.06 11.22 9.70 10.85 less current tax) I Gross interest and lease payments] - Not annualised 3 Bad debts to accounts receivable ratio % (Bad debts including provision for 0.01% . 0.01% 0.01% 0.01 % 0.02% doubtful debts/ Average trade receivables) - Not annualised 4 Debtors turnover (Sale of products/ Average trade receivables) - Annualised 5.89 6.71 6.33 6.59 6.73 6.50 5 Inventory turnover (Sale of products / Average inventory) - Annualised 5.84 6.36 5.60 6.37 5.89 6.14 6 Operating margin % (Earnings before interest and tax / Total revenue from 16.78% 21.30% 18.75% 19.04% 19.15% 19.15% operations including other operating income) - Not annualised 7 Net profit margin % (Profit after tax I Total revenue from operations including 11.51% 14.89% 12.71% 13.20% 12.89% 13.89% other operating incore) - Not annualised 8 Debt equity ratio (Total debt including lease liabilities/ Total equity) 0.27 0.25 0.25 0.27 0.25 0.27 9 Long term debt to working capital [(Non current borrowings + current maturities 1.18 1.09 1.57 1.18 1.57 1.56 of long term borrowings+ lease liabilities) / Working capital] 10 Total debts to total assets (Total debt including lease liabilities I Total assets) 0.1B 0.16 0.17 0.1 B 0.17 0.17 11 Current ratio (Total current assets / Total current liabilities) 1.34 1.39 1.37 1.34 1.37 1.31 12 Current liability ratio (Total current liabilities I Total liabilities) 0.64 0.63 0,58 0.64 0.58 0.61 • Above ratios have been computed after consideration of exceptional item, wherever applicable. SR#.General [estncted ae]- Thus mai', document aan be used by recipients for its intended purpose only.
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i/-0 sFe SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No, 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi - 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.comWebsite:www.srf.com CIN --L 18101 DL 1970PLC005197 NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 5 Standalone unaudited statement of assets and liabilities as at September 30, 2026 (Rs. in Crores) As at Particulars 30-Sep-26 31-Mar-26 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 10574.64 10388.74 Right-of-use assets 607.83 214.59 Capital work-in-progress 1985.07 1744.06 Other intangible assets 96.29 98.46 Financial assets Investments 787.23 786.48 Loans 42.66 47.44 Other financial assets 113.06 113.50 Other tax assets (net) 325.28 327.14 Other non-current assets 204.09 341.21 Total non-current assets 14736.15 14061.62 Current assets Inventories 2540.61 2124.41 Financial assets Investments 477.40 563.30 Trade receivables 2563.88 1947.72 Cash and cash equivalents 190.11 497.11 Bank balances other than above 14.37 9.08 Loans 12.63 84.27 Other financial assets 294.04 211.56 Other current assets 331.32 339.43 Total current assets 6424.36 5776.88 Total assets 21160.51 19838.50 EQUITY AND LIABILITIES Equity Equity share capital 297.44 297.44 Other equity 13361.83 12383.11 Total equity 13659.27 12680.55 Liabilities Non-current liabilities Financial liabilities Borrowings 1254.75 1397.83 Lease liabilities 131.91 47.51 Other financial liabilities 35.81 136.97 Provisions 74.81 76.23 Deferred tax liabilities (net) 1062.98 969.22 Other non-current liabilities 150.00 136.92 Total non-current liabilities 2710.26 2764.68 Current liabilities Financial liabilities Borrowings 2314.74 1914.97 Lease liabilities 37.11 29.91 Trade payables (a) Total outstanding dues of micro enterprises and small enterprises 102.50 140.15 (b) Total outstanding dues of creditors other than micro enterprises and small enterprises 1762.45 1514.09 Other financial liabilities 422.35 558.80 Other current liabilities 92.54 212.90 Provisions 16.78 12.25 Current tax liabilities (net) 42.51 10.20 Total current liabilities 4790.98 4393.27 Total liabilities 7501.24 7157.95 Total equity and liabilities 21160.51 19838.50 t- SRF • General [Restricted use]. This mad, document can be used by recipients for is intended purpose only. sa (4y IM}; $ z e- 4 %
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O SSE SRF LIMITED Registered Office:The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi- 110091 Tel. No (Regd office) : (+91 -11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.com Website: www.srf.com CIN - L 18101 DL 1970PLC005197 NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 6 Standalone unaudited cash flow statement for the half year ended September 30, 2026 (Rs. in Crores) Half Year Ended Particulars 30-Sep-26 30-Sep-25 Unaudited Unaudited A CASH FLOW FROM OPERATING ACTIVITIES Profit before tax Adjustments for: Finance costs Interest Income Net gain on sale of property, plant and equipment Net gain on financial assets measured at fair value through profit and loss Credit impaired assets provided / written off/ (written back) Amortisation of grant income Depreciation and amortisation expense Property, plant and equipment and inventory discarded/ provided / (written back) Insurance income against Property, plant and equipment Provisions/ liabilities no longer required written back Net exchange currency fluctuations loss Employee share based payment expense Stamp duty on purchase of investments Changes in working capital: Adjustments for (increase) / decrease in operating assets : Trade receivables Inventories Loans Other assets Adjustments for increase/ (decrease) in operating liabilities : Trade payables Provisions Other liabilities Cash generated from operations Income taxes paid (net of refunds} Net cash generated from operating activities 1347.80 1015 .55 100.92 112 .74 (16.00) (17.42) (0.15) (3.21) (14.93) (17.40) 0.15 0.17 (10.90) (9.55) 361.81 335.62 0.87 6.30 (3.25) (1.94) (2.40) (0.67) 22.39 31.85 8.14 4.26 0.03 0.09 (625.40) 149.93 (415.30) (273.87) 5.41 (0.32) (137.35) (148.08) 230.49 20.84 3.12 4.36 (199.94) (95.10) 655.51 1114 .15 (253.44) (212.51) 402.07 901.64 B CASH FLOW FROM INVESTING ACTIVITIES Net (purchase) / sale of current investments Income tax paid on sale of investments Stamp duty on purchase of investments Interest received Bank balances not considered as cash and cash equivalents Deposit made with Non Banking Financial Company (NBFC) Proceeds from deposits made with Non Banking Financial Company (NBFC) Payment for purchase of property, plant and equipment, capital work-in progress, other intangible assets and leasehold land Proceeds from disposal of property, plant and equipment Government grant received Loans given to subsidia ry Repayment of loans by subsidiaries Net cash used in investing activities 101 .80 (0.03) 8.44 (0.36) (50.00) 75.00 (861.50) 2.24 0.36 (30.50) 101.50 (653.05) 308.14 (10.83) (0.09) 9.94 0.02 (825.46) 4.58 1.08 (37.60) 131.00 (419.22 ) SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. -
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O sr SRF LIMITED Registered Office:The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Naida Link Road, Mayur Vihar Phase I Extn, Delhi - 110091 Tel. No (Regd office): (+91 -11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.com Website: www.srf.com CIN--L 18101 DL1970PLC005197 NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 6 Standalone unaudited cash flow statement for the half year ended September 30, 2026 (Rs. in Crores) Half Year Ended Particulars 30-Sep-26 30-Sep-25 Unaudited Unaudited C CASH FLOW FROM FINANCING ACTIVITIES Proceeds from long term borrowings . 40.00 Repayment of long term borrowings (343.43) (259.54) Net proceeds from / (repayment of) short term borrowings 576.26 (177.21) Dividends on equity share capital paid (147.85) (118.35) Payment towards lease liability (22.45) (17.92) Finance costs paid (118.53) (116.27) Net cash used in financing activities (56.00) (649.29) Net increase/ (decrease) in cash and cash equivalents (306.98) (166.87) Cash and cash equivalents at the beginning of the year 497. 11 313.85 Effect of movements in exchange rates on cash held (0.02) - Cash and cash equivalents at the end of the period 190.11 146.98 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
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Sme SRF LIMITED Registered Office:The Galleria, DLF Mayur Vhar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi- 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@sf.com Website: www.srf.com CIN - L181010L1970PLC005197 NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 7 Effective November 21, 2025, the Government of India had consolidated multiple existing labour legislations into a unified framework comprising four labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments constitute a plan amendment, requiring recognition of past service cost immediately in the statement of profit and loss. During the year ended March 31, 2026, an amount of Rs. 84.22 crores, had been recognised and presented as 'One time impact of new Labour Codes' under 'Exceptional Item' in the standalone Statement of profit and loss. The Company continues to monitor the finalisation of State Rules and any clarifications from the Government on other aspects of the New Labour Codes and would provide appropriate accounting effect in the relevant period on the basis of such developments as needed. 8 During the year ended March 31, 2026, the Company had received a favourable order from Income Tax Appellate Tribunal ('ITAT') for assessment years 2011-12 and 2013-14. The order primarily covered taxability of income related to Carbon Emission Reduction Certificates ('CERs'). Based on the above order and favourable judicial precedents, the Company had written back tax provisions amounting to Rs. 99.12 crores in respect of above assessment years. Considering that the in-principle matter of taxability of CERs is yet to attain a finality, the Company will continue to re-assess its uncertain tax positions, including in respect of other assessment years, and will consider their impact in the relevant period. 9 Limited Review : The Limited Review, as required under Regulation 33 and Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 as amended has been completed by the Statutory Auditors. Place : Gurugram Date : October 21, 2026 SRF - General [Restricted ae]+ This rail, document can be used by recipients for its intended purpose only For and on ·half of the Board Ashlsh Bharat Ram Chairman and Managing Director -
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BS R & Co. LLP Chartered Accountants Building No. 10, 12th Floor, Tower-C DLF Cyber City, Phase - II Gurugram - 122 002, India Tel: +91 124 719 1000 Fax: +91 124 235 8613 Limited Review Report on unaudited consolidated financial results of SRF Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 and Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended To the Board of Directors of SRF Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of SRF Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended . 2. This Statement, which is the responsib ility of the Parent 's management and approved by the Parent 's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principl es generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the Listing Regulations , as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended . Our responsibilit y is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India . A review of interim financial information consists of making inquiries, primaril y of persons responsible for financial and accounting matters, and applying anal ytical and other review procedures . A review is substantiall y less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identi fied in an audit. Accordingly, we do not express an audit opinion . We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations , to the extent applicable . 4. The Statement includes the results of the following entities: Parent: SRF Limited Subsidiaries : a. SRF Global BV b. SRF Flexipak (South Africa) (Pty) Limited c. SRF Industries (Thailand) Limited d. SRF lnduste x Belting (Pty) Limited e. SRF Europe Kft 8SR&Co .(a partnership firm with Registration No. BA61223) converted into B SR& Co. LLP (a Limited Liability Partnership with tLP Registration No. AAB-8181) with effect from October 14, 2013 Registered Office: 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 3
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BS R & Co. LLP Limited Review Report (Continued) SRF Limited Subsidiaries (continued): f. SRF Holiday Home Limited g. SRF Altech Limited h. SRF Middle East LLC i. SRF Employees Welfare Trust (controlled trust) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We did not review the interim financial information of three Subsidiaries included in the Statement, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 4,590.56 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 1,070.59 crores and Rs. 2,178.10 crores, total net profit after tax (before consolidation adjustments) of Rs. 66.85 crores and Rs. 237.95 crores and total comprehensive income (before consolidation adjustments) of Rs. 66.85 crores and Rs. 236.72 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and cash inflows (net) (before consolidation adjustments) of Rs. 79.60 crores for the period from 01 April 2026 to 30 September 2026 as considered in the Statement. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. All of these subsidiaries are located outside India whose interim financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Parent's management has converted the interim financial information of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent's management. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the reports of other auditors and the conversion adjustments prepared by the management of the Parent and reviewed by us. Our conclusion is not modified in respect of this matter. Page 2 of 3
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BS R & Co. LLP Limited Review Report {Continued) SRF Limited 7. The Statement includes the interim financial information of four Subsidiaries which have not been reviewed, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 105.96 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 74.26 crores and Rs.125.77 crores, total net profit after tax (before consolidation adjustments) of Rs. 8.03 crores and Rs.11.34 crores and total comprehensive income (before consolidation adjustments) of Rs. 8.03 crores and Rs. 11.34 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and cash inflows (net) (before consolidation adjustments) of Rs. 11.35 crores for the period from 01 April 2026 to 30 September 2026 as considered in the Statement. According to the information and explanations given to us by the Parent's management, these interim financial information are not material to the Group. Our conclusion is not modified in respect of this matter. For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 Gurugram 21 October 2026 Rajesh Arora Partner Membership No.: 076124 UDIN: 26076124LFNQOD7600 Page 3 of 3
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vO SSFE SRF LIMITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 SRF General [Restricted use] The mail, document can be used by repents for ts intended purpose only
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O Sr SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi - 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax: (+91-11) 49482900 E-mail: info@srf.com Website: www.srfcom CIN - L18101 DL I 970PLC005 I 97 STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (Rs. in Crores, except per share data) Consolidated Quarter Ended Half Year Ended Year Ended S.No. Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (1) (2) (3) (4) (5) (6) Unaudited Unaudited Unaudited Unaudited Unaudited Audited Revenue from operations 1 a) Sale of products 4803.31 4939.20 3534.46 9742.51 7273.04 15416.37 b) Other operating revenues 100.89 94.06 105.73 194.95 185.77 370.14 Total Revenue from operations 4904.20 5033.26 3640.19 9937.46 7458.81 15786.51 2 Other income 24.94 33.91 25.71 58.85 54.83 107.06 3 Total Income 4929.14 5067.17 3,665.90 9996.31 7513.64 15893.57 4 Expenses a) Cost of materials consumed 2623.04 2626.20 1925.09 5249.24 3856.31 7879.40 b) Purchases of stock-in-trade 99.72 39.43 96.02 139. 15 137.02 244.39 c) Changes in inventories of finished goods, work-in-progress and stock in trade (122.90) (208.46) (252.12) (331.36) (313.64) (326.12) d) Employee benefits expense 315.72 318.68 277.14 634.40 554.40 1148.34 e) Finance costs 70.94 68.62 70.68 139.56 150.58 278.04 f) Depreciation and amortisation expense 228.84 222.86 212.13 451.70 415.37 852.07 g) Power and fuel 404.68 405.81 342.06 810.49 704.79 1377 .67 h) Exchange currency fluctuation (gain)/ loss 63.13 101.99 30.63 165.12 21.94 188.34 i) Other expenses 574.93 512.89 447.22 1087.82 894.00 1864.85 Total expenses 4258.10 4088.02 3148.85 8346.12 6420.77 13506.98 5 Profit before exceptional items and tax for the period 671.04 979.15 517.05 1650.19 1092.87 2386.59 6 Exceptional item - One time Impact of New Labour Codes (Refer Note 7) . . . . - 84.95 7 Profit before tax for the period 671.04 979.15 517.05 1650.19 1092.87 2301.64 8 Tax expense a) Current tax expense 134.40 172.40 113 .13 306.80 230.73 487.75 b) Current tax adjustment related to earlier years (Refer Note 8) . - . . (99.12) c) Deferred tax expense 27.52 47.88 15.74 75.40 41.64 77.83 9 Net Profit after tax for the period 509.12 758.87 388.18 1267.99 820.50 1835.18 10 Other Comprehensive Income A Items that will not be reclassified to profit or loss () (a) Gain /(loss) on remeasurements of the defined benefit obligation 3.60 (5.20) 2.13 (1.60) (1.62) 1.32 (i) (b) Income tax on item () (a) above (0.90) 1.30 (0.54) 0.40 0.39 0.15 B Items that will be reclassified to profit or loss () (a) Effective portion of gain/ (loss) on hedging instruments in a cash flow hedge 9.01 143.71 (228.32) 152.72 (238.45) (470.95) (i) (b) Income tax on item (i) (a) above (2.27) (36.48) 57.61 (38.75) 60.17 119.00 (ii) Exchange differences on translation of foreign operations 5.62 15 .15 61.00 20.77 110 .72 190.45 11 Total Other Comprehensive Income/ (loss) for the period 15.06 118.48 (108.12) 133.54 (68.79) (160.03) 12 Total Comprehensive Income/ (loss) for the period 524.18 877.35 280.06 1401.53 751.71 1675.15 13 Paid up equity share capital (Rs.10 each fully paid up) 296.42 296.42 296.42 296.42 296.42 296.42 14 Other equity excluding revaluation reserve 15006 .80 14649.24 12966 .18 15006.80 12966 .18 13745.32 15 Net Worth 15303.22 14945.66 13262.60 15303 .22 13262.60 14041.74 16 Capital Redemption Reserve 10.48 10.48 10.48 10.48 10.48 10.48 17 Basic EPS for the period (not annualised) 17.18 25.60 13 .10 42.78 27.68 61.91 18 Diluted EPS for the period (not annualised) 17.18 25.60 13.10 42.78 27.68 61 .91 Net worth = Paid up share capital (excluding forfeited shares) + Other equity 5a.' �U Mt,r�0 a 4 Sm= ± /ND\ P SRF - General [Restricted use]- Thi mail, document can be used by recipients for its interded purpose only.
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v--0 SE SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi - 110091 Tel. No (Regd office): (+91-11) 49482870 Fax.: (+91-11) 49482900 E-mail: info@srf.com Website: www.srf.com CIN -LI 810 I DLI 970PLC005 l 97 STATEMENT OF CONSOLIDATED UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (Rs in Crores) Consolidated Quarter Ended Half Year Ended Year Ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (1) (2 (3) (4) (5) (6) Unaudited Unaudited Unaudited Unaudited Unaudited Audited Segment Revenue a) Technical Textiles Business (TTB) 595.11 596.84 474.34 1191 .95 940.89 1877.00 b) Chemicals Business (CB) 2079.46 2314.86 1666.88 4394.32 3505.83 7778.97 c) Performance Films & Foil Business (PFB) 2122.39 2016.69 1408.14 4139.08 2826.34 5764.23 d) Others 107.24 104.89 90.83 212.13 185.75 366.38 Total Segment Revenue 4904.20 5033.28 3640.19 9937.48 7458.81 15786.58 Less: Inter Segment Revenue - 0.02 0.02 - 0.07 Revenue from Operations 4904.20 5033.26 3640.19 9937.46 7458.81 15786.51 Segment Results (Profit before Interest and Tax from each Segment) a) Technical Textiles Business (TTB) 72.31 107.80 42.30 180 .11 79.94 190.08 b) Chemicals Business (CB) 527.77 638.41 481.31 1166.18 984.23 2262.87 c) Performance Fims & Foil Business (PFB) 206.23 349.73 118 .95 555.96 259.15 507.55 d) Others 9.68 20.18 7.50 29.86 20.93 47.03 Total Segment Results 815.99 1116.12 650.06 1932.11 1344.25 3007.53 Less/(Add): i) Finance Costs 70.94 68.62 70.68 139.56 150.58 278.04 ii) Other Unallocable Expenses (net of income) 74.01 68.35 62.33 142.36 100.80 342.90 iii) Exceptional item -One time Impact of New Labour Codes (Refer Note 7) - - - . - 84.95 Profit before tax for the period 671.04 979.15 517.05 1650.19 1092.87 2301.64 Segment Assets a) Technical Textiles Business (TTB) 2292.83 2366.63 2107.48 2292.83 2107.48 2165 .12 b) Chemicals Business (CB) 12905.46 12471.80 11507.26 12905.46 11507.26 11886. 26 c) Performance Films & Foil Business (PFB) 9042.96 8914.07 7228.99 9042.96 7228.99 8078.23 d) Others 230.02 239.06 231.88 230.02 231.88 239.16 Total segment assets 24471.27 23991.56 21075.61 24471.27 21075.61 22368.77 e) Unallocable 1365.68 1462.03 1185.84 1365.68 1185.84 1777.90 Total 25836.95 25453.59 22261.45 25836.95 22261.45 24146.67 Segment Liabilities a) Technical Textiles Business (TTB) 361.61 502.52 327.20 361.61 327.20 334.06 b) Chemicals Business (CB) 1430.17 1399.87 1143.49 1430.17 1143.49 1316.91 c) Performance Films & Foil Business (PFB) 1937.83 2154.24 1631.47 1937.83 1631.47 1767.91 d) Others 45.25 45.07 33.47 45.25 33.47 42.50 Total segment liabilities 3774.86 4101.70 3135.63 3774.86 3135.63 3461.38 e) Unallocable 6757.85 6405.21 5862.20 6757.85 5862.20 6642.53 Total 10532.71 10506.91 8997.83 10532.71 8997.83 10103.91 Sa -'y LIM> g $ a 4 Sr= /ND\ .} <..� g" SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose oniy
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SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Naida Link Road, Mayur Vihar Phase I Extn, Delhi - I 10091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.com Website: www.srfcom CIN - L18101 DLI 970PLC005 197 NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 The above results of SRF Limited ('the Company) and its subsidiaries (Company and its subsidiaries together referred to as "the Group) were reviewed by the Audit Committee and has been approved by the Board of Directors at its meeting held on October 21, 2026. Following entities are subsidiaries of the Company: i. SRF Holiday Home Limited ii. SRF Altech Limited iii. SRF Employees Welfare Trust ( Controlled Trust) iv. SRF Global BV v. SRF Europe Kft vi. SRF Industries (Thailand) Limited vii. SRF Middle East LLC viii. SRF Flexipak (South Africa) (Pty) Limited ix. SRF lndustex Belting (Pty) Limited The Limited review report of the Statutory Auditors is being filed with BSE Limited and National Stock Exchange of India Limited. For more details on the consolidated results, visit the Investors section of our website at www.srf.com and financial results at "Corporate Announcements" section of www.nseindia.com and www.bseindia.com. 2 These financial results of the Group have been prepared in accordance with the lndian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 201 3 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 3 The listed commercial papers aggregating to Rs.700 crores were outstanding as on September 30, 2026. The Group's commercial paper programme has been rated as CRISIL A 1 + by CRISIL and IND A I+ by India Ratings. During the quarter and half year ended September 30, 2026, the Group has repaid all commercial papers due and payable on the respective due dates. 4 Additional disclosures as per Clause 52 ( 4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: (Ratios / percentages as applicable) Consolidated Quarter Ended Half Year Ended Year Ended SNo. Particulars * 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (I) (2) (3) (4) (5) (6) Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Debt service coverage ratio ( (Earnings before depreciation, 2.90 1.93 2.77 2.26 2.67 2.59 interest and tax less current tax) / (Gross Interest and lease payments+ scheduled principal repayment of long term debts)} - Not annualised 2 Interest service coverage ratio {(Earnings before 9.68 13.3 0 8.99 11.45 8.76 9.67 depreciation, interest and tax less current tax) I Gross interest and lease payments)}- Not annualised 3 Bad debts to accounts receivable ratio % (Bad debts 0.01% 0.06% 0.004% 0.07% 0.005% 0.10% including provision for doubtful debts/ Average trade receivables) - Not annualised 4 Debtor turnover (Sale of products/ Average trade 6.08 6.91 6.52 6.81 6.91 6.52 receivables) - Annualised 5 Inventory turnover (Sale of products/ Average Inventory)- 5.66 6.37 5.46 6.32 5.73 6.00 Annualised 6 Operating margin% (Earnings before interest and tax/ Total 15.13% 20.82% 16.15% 18.01% 16.67% 16.34% revenue from operations including other operating income) Not annualised 7 Net profit margin% (Profit after tax/ Total revenue from 10.38% 15.08% 10.66% 12.76% 11.00% 11.63% operations including other operating income) - Not annualised 8 Debt equity ratio (Total debt including lease liabilities/ 0.35 0.32 0.35 0.35 0.35 0.36 Total equity) 9 Long term debt to working capital 1.80 1.86 4.78 1.80 4.78 4.58 {(Non current borrowings+ current maturity of long term borrowings+ lease liabilities)/ Working capital} IO Total debts to Total assets 0.21 0.19 0.21 0.21 0.21 0.21 (Total debt including lease liabilities/ Total assets ) II Current ratio (Total current assets/ Total current liabilities) 1.25 1.21 1.11 1.25 I.II 1.10 12 Current liability Ratio (Total current liabilities / Total 0.62 0.66 0.62 0.62 0.62 0.65 liabilities) O SF Above ratios have been computed after consideration of exceptional item, wherever applicable. .ereal [fried up. i nrld&um@mtg b edb repents feted pup on S¢' LIM/} $ a 4 SE 4
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v"V SF I SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi • 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax (+91-11) 49482900 E-mail: info@srf. com Website: www.srf com CIN -- L181010L1970PLC005197 NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 5 CONSOLIDATED UNAUDITED STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2026 (Rs. in Crores) As at As at Particulars 30-Sep-26 31-Mar-26 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 13804.28 13577.55 Right-of-use assets 635.16 242 07 Capital work-in-progress 2122 19 1889 41 Other intangible assets 103.72 106 03 Financial assets Investments 123.40 124.07 Loans 43.14 47.95 Other financial assets 212.24 227.68 Deferred tax assets 37.46 50.07 Non Current tax assets (net) 326.15 327.50 Other non-current assets 214.71 356.73 Total non-current assets 17622.45 16949.06 Current assets Inventories 3378 69 2788 64 Financial Assets Investments 477.40 563 30 Trade receivables 3160.53 2561.60 Cash and cash equivalents 397.92 590.49 Bank balances other than above 27,57 20.47 Loans 17.31 18.09 Other financial assets 324.27 225.00 Other current assets 430.81 430.02 Total current assets 8214.50 7197.61 Total assets 25836.95 24146.67 EQUITY AND LIABILITIES Equity Equity share capital 297.44 297.44 Other equity 15006 80 13745.32 Total equity 15304.24 14042.76 Liabilities Non-current liabilities Financial liabilities Borrowings 2253.95 1953,30 Lease liabilities 132 95 48.55 Other financial liabilities 35.81 136.97 Provisions 96 28 95.98 Deferred tax liabilities (net) 1142. 57 1034.82 Other non-current liabilities 320.10 311.45 Total non-current liabilities 3981.66 3581.07 Current liabilities Financial Liabilities Borrowings 2951.36 3051.03 Lease liabilities 37.11 29.91 Trade payables a) Total outstanding dues of micro enterprises and small enterprises 104.15 143,05 b) Total outstanding dues of creditors other than micro enterprises and small enterprises 2814.64 2441.92 Other financial liabilities 450 32 586,83 Other current liabilities 126 83 243.94 Provisions 20,05 14.87 Current tax liabilities (net) 46.59 11.29 Total current liabilities 6551.05 6522.84 Total liabilities 10532.71 10103.91 Total equity and liabilities 25836.95 24146.67 l- SF General [Retncted use]- Thus nail, document an b uedby retrprents for its tended purpose only % 'by 13 /ND\ o»
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v-0 --Fe SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi- 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax: (+91-11) 49482900 E-mail: info@srf.comWebsite:www.srf.com CIN - l18101DL1970PLC005197 NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 6 CONSOLIDATED UNAUDITED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 (Rs. in Crores) Half Year Ended Particulars 30-Sep-26 30-Sep-25 Unaudited Unaudited A CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 1650.19 1092.87 Adjustments for: Finance costs 139.56 150.58 Interest Income (19.03) (17.22) Net (gain) / loss on sale of property, plant and equipment (0.01) (2.87) Net gain on financial assets measured at fair value through profit and loss (14.93) (17.40) Credit impaired assets provided / written off I (written back) 2.01 0.10 Amortisation of grant income (22.34) (13.80) Depreciation and amortisation expense 451.70 415.37 Property, plant and equipment /inventory and other assets provided /written off I (written back) 1.09 6.25 Insurance income against Property, plant and equipment (3.25) (1.94) Provisions/ liabilities no longer required written back (2.48) (0.67) Net exchange currency fluctuation loss 30.64 5.49 Employee share based payment expense 8.14 4.26 Stamp duty on purchase of Investments 0.03 0.09 Changes in working capital: Adjustments for (increase) / decrease in operating assets : Trade receivables (606.03) 185.27 Inventories (584.24) (336.69) Loans 5.63 (0.20) Other assets (137.02) (138.25) Adjustments for increase/ (decrease) in operating liabilities; Trade payables 348.53 69.87 Provisions 5.51 6.63 Other liabilities (192.38) (123.16) Cash generated from operations 1061.32 1284.58 Income taxes paid (net of refunds) (267.83) (223.62) Net cash generated from operating activities 793.49 1060.96 B CASH FLOW FROM INVESTING ACTIVITIES Net (purchase) / sale of current investments 101.80 308.14 Income tax paid on sale of investments o.oo (10.83) Stamp duty on purchase of Investments (0.03) (0.09) Interest received 8.17 6.11 Bank balances not considered as cash and cash equivalents (0.98) (0.30) Payment for purchase of property, plant, equipment, capital work-in-progress, intangible assets (973.89) (879.38) and leasehold land Deposits made with Non Banking Financial Company (NBFC) (50.00) 0.00 Proceeds from deposits made with Non Banking Financial Company (NBFC) 75.00 0.00 Government grant received 1.36 12.91 Proceeds from disposal of property, plant and equipment 2.37 6.02 Net cash used in investing activities (836.20) (557.42) SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only
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SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Neida Link Road, Mayur Vihar Phase I Extn, Delhi - 110091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srf.comWebsite:www .srf.com CIN --L 18101DL 1970PLC005197 NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 6 CONSOLIDATED UNAUDITED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 (Rs. in Crores) Haff Year Ended Particulars 30-Sep-26 30-Sep-25 Unaudited Unaudited C CASH FLOW FROM FINANCING ACTIVITIES Proceeds from long term borrowings 493.97 257.11 Repayment of long term borrowings (687.10) (356.96) Net proceeds of short term borrowings 368 27 (261.19) Dividends on equity share capital paid (147.85) (118.35) Payment towards lease liability (22.45) (17.95) Finance costs paid (157.60) (151.93) Net cash used in financing activities (152.76) (649.27) D EFFECT OF EXCHANGE RATE MOVEMENTS 2.90 1.63 Net increase/ (decrease) in cash and cash equivalents (192.57) (144.10) Cash and cash equivalents at the beginning of the year 590.49 333.99 Cash and cash equivalents at the end of the period 397.92 189.89 5a.%-{)H 00 �\..\MJ)'� a 4 SF # /ND\P J-'-"� 2" SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
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v-0 SF¢ SRF LIMITED Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Vihar Phase I Extn, Delhi-110091 Tel. No (Regd office) : ( + 91-11) 49482870 Fax : (+91-11) 49482900 E-mail: info@srfcom Website: www.srf.com CIN -- L18101 DL I 970PLC005197 NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 7 Effective November 21, 2025, the Government of India had consolidated multiple existing labour legislations into a unified framework comprising four labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments constitute a plan amendment, requiring recognition of past service cost immediately in the statement of profit and loss During the year ended March 31, 2026, an amount of Rs. 84.95 crores, had been recognised and presented as 'One time impact of new Labour Codes' under 'Exceptional Item' in the consolidated Statement of profit and loss. The Group continues to monitor the finalisation of State Rules and any clarifications from the Government on other aspects of the New Labour Codes and would provide appropriate accounting effect in the relevant period on the basis of such developments as needed. 8 During the year ended March 31, 2026, the Company had received a favourable order from Income Tax Appellate Tribunal ('!TAT') for assessment years 2011 -12 and 20 I 3-14. The order primarily covered taxability of income related to Carbon Emission Reduction Certificates ('CERs'). Based on the above order and favourable judicial precedents, the Company had written back tax provisions amounting to Rs. 99.12 crores in respect of above assessment years. Considering that the in-principle matter of taxability of CERs is yet to attain a finality, the Company will continue to re-assess its uncertain tax positions, including in respect of other assessment years, and will consider their impact in the relevant period, 9 Limited Review : The Limited Review, as required under Regulation 33 and Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021 /613 dated August 10, 2021, as amended has been completed by the Statutory Auditors. For and n behalf of the Board - Place: Gurugram Date : October 21, 2026 Ashish Bharat Ram Chairman and Managing Director