Shares of SRF Ltd. extended losses today, with the stock weakening sharply from its previous close of Rs. 2,873 as profit-taking intensified after the post-results management commentary. The stock fell to an intraday low of around Rs. 2,690, representing a fall of over 6% from the prior close, before settling near Rs. 2,720, still down more than 5% on the session. Intraday turnover remained active as investors reassessed the company’s growth outlook amid competitive pressures.

The immediate trigger was the post-earnings conference call, where management flagged persistent competitive pressure from Chinese players in parts of its portfolio, with the specialty chemicals business facing aggressive pricing and some customer offtake being deferred. Against this backdrop, SRF indicated it is likely to miss its earlier guidance of about 20% specialty chemicals sales growth for FY26, even as it expects demand to improve in Q4 FY26 on the back of pent-up orders from Q2 and Q3.

Operationally, SRF reported a healthy Q3 FY26, with consolidated profit after tax rising 59.6% year-on-year to Rs. 432.66 crore, while revenue from operations grew 6.33% to Rs. 3,712.53 crore. The chemicals segment remained the key driver, with segment revenue up to about Rs. 1,825 crore, while weakness in specialty chemicals was offset by a strong performance in refrigerant gases amid firm HFC prices and healthy demand; performance films & foil and technical textiles, however, saw revenue pressure on a year-on-year basis.

Alongside the results, the board declared an interim dividend of Rs. 5 per share (record date 27 January 2026; payment on or before 17 February 2026) and approved a new pharma intermediates plant at Dahej with an estimated investment of around Rs. 180 crore.

SRF is a chemical-based, multi-business manufacturer of industrial and specialty intermediates, with operations spanning fluorochemicals, specialty chemicals, packaging films, technical textiles, and allied businesses.