The SRF share price faced a sharp fall of 6% in early trade on Wednesday, January 21, hitting a nine-month low at ₹2,720. The drop came after the company reported its Q3 FY26 results, which, despite showing healthy numbers, disappointed investors regarding specialty chemicals growth.
Market Performance
- Date: Wednesday, January 21, 2026
- SRF Share Price: ₹2,720 (down 6%)
- Trend: Nine-month low
The stock’s sudden dip highlights the cautious mood among investors. While the overall revenue and profit showed strong growth, the indication that specialty chemicals sales might not meet previous FY26 targets created pressure on the share price.
Q3 FY26 Performance Snapshot
SRF Ltd reported a solid quarterly performance with significant gains in its chemicals business, which drove the overall results.
- Consolidated Profit After Tax (PAT): ₹432.66 crore, up 59.6% YoY
- Total Revenue from Operations: ₹3,712.53 crore, up from ₹3,491.31 crore YoY
The numbers suggest that SRF is continuing to perform well overall, but certain segments faced challenges that investors were watching closely.
Company Segment-Wise Details
Chemicals Business
The chemicals vertical remains the largest contributor to SRF’s revenue.
- Revenue: ₹1,824.81 crore, up from ₹1,495.65 crore YoY
- Key Drivers: Strong performance in refrigerant gases, benefiting from firm HFC prices and steady demand
However, specialty chemicals faced hurdles:
- Aggressive Chinese pricing
- Deferred offtake by key customers
As a result, the company indicated that it is unlikely to meet the earlier guidance of 20% growth in specialty chemicals sales for FY26.
Technical Textiles
The technical textiles business saw a decline in revenue.
- Revenue: ₹453.58 crore, down from ₹509.79 crore YoY
Performance Films & Foil
This vertical also posted a slight dip in revenue.
- Revenue: ₹1,342.28 crore, down from ₹1,384.75 crore YoY
Dividend Announcement
Alongside the Q3 results, SRF’s board approved a second interim dividend for FY26.
- Dividend: ₹5 per fully paid-up equity share of ₹10
- Total Payout: ₹148.21 crore
This move demonstrates the company’s commitment to rewarding shareholders despite near-term pressures in certain business segments.
Summary
The Q3 FY26 results present a mixed picture for SRF:
- Strong overall revenue and profit growth
- Chemicals business, especially refrigerant gases, continues to perform well
- Specialty chemicals segment faces challenges due to pricing pressures and delayed orders
- Technical textiles and performance films experienced slight dips
- Board declares ₹5 interim dividend per share
The stock’s fall to a nine-month low of ₹2,720 reflects investor caution, mainly around specialty chemicals growth, even as the company maintains healthy operations elsewhere.
SRF’s results tell a story of resilience in key segments, tempered by temporary setbacks in specialty chemicals. The dividend announcement adds a positive note for shareholders, keeping the company attractive in the broader market narrative.
Source: Livemint
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