22-Oct-2026 15:07:37
SRF Q2 CONCALL : 20% CHEMICALS GROWTH OUTLOOK, ₹600 CR BATTERY FOIL INVESTMENT & HFO CAPACITY EXPANSION
• FY27 CHEMICALS REVENUE GROWTH EXPECTED NEAR UPPER END OF 15–20% GUIDANCE • SPECIALTY CHEMICALS REVENUE & VOLUME RECOVERY EXPECTED TO STRENGTHEN IN H2 FY27 • REFRIGERANT PRICES EXPECTED TO REMAIN BROADLY STABLE, EXCLUDING SEASONAL FLUCTUATIONS • GOPALPUR HFO PROJECT COMMISSIONING TARGETED FOR Q4 FY28, WITH MEANINGFUL VOLUME RAMP-UP 10–12 MONTHS LATER • CHEMOURS PARTNERSHIP PROJECTS TARGETED FOR COMMISSIONING IN Q4 FY27 & Q1 FY28; FULLER REVENUE CONTRIBUTION EXPECTED IN FY29 • ₹600 CR INVESTMENT APPROVED FOR 12,000 MTPA BATTERY-GRADE ALUMINIUM FOIL CAPACITY • BATTERY FOIL PHASE 1 CAPEX AT ₹300 CR, WITH COMPLETION EXPECTED IN APPROXIMATELY 23 MONTHS • EXISTING ALUMINIUM FOIL BUSINESS TARGETED TO ACHIEVE EXIT-QUARTER PROFITABILITY BY FY27-END • HYBRID BOPP/BOPPE FILM LINE COMMERCIALIZATION EXPECTED IN Q3 FY27 • CAPACITOR ALUMINIUM FOIL COMMERCIAL SALES EXPECTED TO BEGIN IN Q3 FY27 • PVDF, PTFE, FEP & FKM PRODUCT EXPANSION EXPECTED TO SUPPORT HIGHER-VALUE SPECIALTY CHEMICAL GROWTH • SEMICONDUCTOR-GRADE HF & BATTERY MATERIALS PRESENT LONG-TERM OPPORTUNITIES; COMMERCIAL SCALE-UP REMAINS EARLY STAGE • MANAGEMENT IDENTIFIED APPROXIMATELY $1 BILLION POTENTIAL OPPORTUNITY ACROSS EMERGING APPLICATIONS, NOT COMMITTED REVENUE • RAW MATERIAL INFLATION, HIGHER FREIGHT COSTS & CUSTOMER QUALIFICATION DELAYS REMAIN KEY RISKS
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