SRF Ltd. — Interim / Quarterly Report 2023

Nov 3, 2022

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The Corporate Relationship Department, BSE Limited Ist Floor , New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Mumbai 400 001 Scrip Code- 503806

SRF/SEC/BSE/NSE

National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex Bandra (E) Mumbai 400 051 Scrip Code-SRF

03.11.2022

Dear Sir,

Unaudited Financial Results for the quarter and half year ended 30.09.2022 alongwith Limited Review Report for the quarter and half year ended 30.09.2022

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 03[rd] November, 2022 (commenced at 11.15 a.m. and concluded at 02.45 p.m.) has inter-alia considered and approved –

1. Unaudited Consolidated Financial Results for the quarter and half year ended 30.09.2022 (copy enclosed alongwith Limited Review Report by Statutory Auditors for quarter and half year ended 30.09.2022)

2. Unaudited Standalone Financial Results for the quarter and half year ended 30.09.2022 (copy enclosed alongwith Limited Review Report by Statutory Auditors for quarter and half year ended 30.09.2022)

Thanking you,

Yours faithfully,

For SRF LIMITED

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Rajat Lakhanpal

VP (Corporate Compliance) & Company Secretary

Encl: As above

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

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Corporate identity No. L181010L1970PLC005197
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SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.

B S R & Co. LLP

Chartered Accountants

Building No.10,12th Floor, Tower-C, DLF Cyber City, Phase-II, Gurugram -- 122 002, India

Telephone: +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 2022 and year-to-date results for the period from 1 April 2022 to 30 September 2022 pursuantto 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/ HS/P/CIR/2021/613 dated 10 August 2021

To the Board of Directors of SRF Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results ofSRF Limited ("the Company") for the quarter ended 30 September 2022 and year-to-date results for the period from 1 April 2022 to 30 September 2022 ("the Statement").

2. This Statement, which is the responsibility of the Company's management and approved by the 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 principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the 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/ HS/P/CIR/2021/613 dated 10 August 2021. Our responsibility is to issue a report 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

V

Registered Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400053

BSR&Co . (a partnership firm with Registration No BA61223) converted into B S R &Co, LL? (a Limited Liability Partnership with LLP Registration No AAB-8181) with effect from October 14, 2013

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B S R & Co. LLP

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) of the 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, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Gurugram 03 November 2022

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For B S R & Co. LLP
·ountants
h
Kaushal Kishore
Partner
Membership No.: 090075
UDIN:22090075BBWFOZ4250
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N SRF LIMITED SF

STANDALONE FINANCIAL RESULTS

FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

SRF • General [Restncted use] • Thrs mad, document can be used by recipients for its intended purpose only

vO FE

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.com Website: www.srf.com CIN -- L181010L1970PLC005197

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

(Rs. in Crores, except per share data)

				(Rs.inC	(Rs.inC	rores,	except	pershare dat)
				Stndalone
S.No.	Parcular	30-Sep-22	Quarer ended 30-Jun-22	30-Sep-21	Half Year 30-Sep-22	Ended 30-Sep-21		Year Ended 31-Mar22
		(1)	(2)	(3)	(4)	(5)		(6)
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited		Audited
1	Revenue fom opertons
	a.Sale of producs	2901.01	3061.98	2267.84	5962.99	4447.80		9836.55
	b. Other operating revenues	70 83	40.89	23.39	111.7		43.23	11689
	Totl Revenue fom operatons	2971.84	3102.87	2291.23	6074.71	491.03		9953.4
2	Otherincome	40.90	16.17	16.87	57.07		37.03	63.91
3	Totl Income	3012.74	3119.04	2308.10	6131.78	4528.06		10017.35
4	Expenses
	a.Cost of materals consumed	1351.1	1,448.78	1164.57	2800.19	2201.51		4748.26
	b. Purchases ofstock-in-trade	41.52	13.99	15.84	55.51		42.88	137.27
	c.Changes ininventores of fnished goods, work-in-progress and stock in trade	82.4	(54.08)	(59.51)	28.36		(34.81)	(193.25)
	d.Employee benefts expense	164.56	161.58	148.80	326.14		301.77	658.48
	e.Financecst	40.75	26.75	18.91	67.50		42.13	94.45
	f.Deprecatonandamorisationexpense	114.58	15.25	105.34	219.83		206.27	419.23
	g.Powerand fuel	310.87	354.21	230.02	665.08		432.16	984.23
	h.Excangecurency fucuaton(gain)/ loss	27.07	12.80	(21.31)	39.87		(29.18)	(71.40)
	iOther expenses	307 43	323.42	25421	630,85		493.21	108504
	Totl expenses	240.63	2392.70	1856.87	4833.33	3655.94		7862.31
5	Proft before tx for te perod	572.11	726.34	451.23	1298.45		872.12	2155.04
6	Tax expense
	- Taxexpense	165.13	217.91	139.53	383.04		268.85	665.34
	- Tax adjustment related to earier years	(32.17)	-	-	(32 17)		-	(17.31)
7	Net Proft afertxfr the period	49.15	508.43	311.70	947.58		603.27	1507.01
8	oherComprehensiveIncome
	A.Items thatwilnot be reclassiedto proft orloss
	()(a)GanI(loss) of defned benefroblgation	1.36	(12.41)	2.55	(1105)		(0.50)	(7.30)
	(i)(b) Incmetaonitem(7)(a)above	(0.8)	4.34	(0.89)	3.86		0.18	2.55
	B.Items thatwibereclassifedtoproft orloss
	(i)(a)Efeciveporionofgain / (loss) on hedginginstrmentsin acshfow hedge	(13465)	(162.95)	60.37	(297.60)		21.35	3999
	(i)(b) Incometaxoniter ()(a) above	36.55	47.59	(2275)	84.14		(9.43)	(13 03)
	(ii)(a)Costof hedgingresere	1.91	2.69	239	4.60		3.60	1.8
	(i)(b)Income taxonitem (i)(a) above	(0.38)	(0.74)	(070)	(1,12)		(1.01)	(0.5)
9	Totl Oer Comprehensive Income for te perod	(95.69)	(121.4)	40.97	(217.17		14.19	23.24
10	TotlComprehensive Income forte period	343.46	386.95	352.67	730.41		61746	1530.25
11	Paid up equity sharecpital(Rs.10 each fulypaid up)	296.42	296.2	59.25	296.2		59.25	29642
12	Other equityexcludingrevaluaton resere	795526	7716.38	6781.85	7955.26	6781.85		7327.36
13	Net Worh	8251.68	8012.80	6841.10	8251.68	6841.10		7623.78
14	Paid Up Debt Capital	-	250.00	250.00	-		250.00	250.00
15	Debenture RedemptionResere	-	6250	62.50	-		62.50	62.50
16	Basicand DiutedEPSfr theperod(notannualsed)	14.81	17.15	10.52	31.97		20.37	50.86

Refer note 7

Net Worth = Paid up share capital (excluding forfeited shares) + Other equity

.. Paid up Debt Capital comprises of listed Debentures only

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RF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only

vO SSE

SRF LIMITED

Registered Office:The Ga eria, 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@sf.com Website: www.srf.com GIN - L 18101 DL 1970PLC005197

STATEMENT OF STANDALONE UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

(Rs. in Crores)

						(Rs.in Crores)
			Standalone
		Quarer Ended		Hal Year	Ended	Year Ended
Paricular	30-Sep-22	30-Jun-22	30-Sep-21	30-Sep-22	30-Sep-21	31-Mar-22
	(1)	(2)	(3)	(4)	(5)	(6)
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Segment Revenue
a)Technicl Texiles Business (TTB)	466.21	571.02	557.88	103723	1050.81	2085.24
b) Chemicls Business (CB)	1808.30	1706.83	1120.86	3515.13	2231.36	5212.26
c) PackagingFilmBusness(PFB)	596.95	719.75	529.49	1316.70	1074.33	2327.51
d) Others	100.38	10560	86.29	205.98	139.93	340.34
Totl Segment Revenue	2971.84	3103.20	2294.52	6075.04	496.43	9965.35
Less:InterSeamen!Revenue	-	0.33	3.29	0.33	5.40	11.91
Revenue from Operations	2971.84	3102.87	2291.23	6074.71	491.03	9953.4
Segment Result
(Proft before interestandtaxfrmeach Segment)
a) Technicl Texiles Business(TB)	62.80	116.07	13250	178.87	266.18	470.84
b)Chemicls Business (CB)	517.15	523.10	252.59	1040.25	473.75	1397.35
c)PackagingFilm Business (PFB)	43.01	166.96	89.28	209.97	206.52	482.7
d) Others	7.59	6.76	5.79	14.35	7.69	20.35
Totl Seament Result	630.55	812.89	480.16	143.4	95.14	2371.26
Less/(Add):
i)Finance Cost	40.75	26.75	18.91	67.50	42.13	94.5
ii) OterUnalocbleExpenses(NetofIncome)	17.69	59.80	10.02	77.49	39.89	121.77
Proft before tax for the period	572.11	726.34	451.23	1298.45	872.12	2155.04
SegmentAsset
a)Technicl Texies Business(TTB)	1924 07	2034 73	1803 33	1924 07	1803 33	1830 61
b) Chemicls Busness(CB)	8382.0	7952.76	6183.53	8382.40	6183.53	7154.6
c)PackagingFimBusiness (PFB)	2327.82	2412.76	177.30	2327.82	177.30	2198.19
d) Others	157.1	18662	17.85	157.41	12.85	174.94
Total segment asset	12791.70	12586.87	993201	12791.70	9932.01	11358.20
e)Unalocble	1412.53	1413.26	1608.35	1412.53	1608.35	1577.02
fAssets classifed as held for sale	-	-	5.22	.	5.22	3.00
Totl	14204.23	14000.13	11545.58	14204.23	11545.58	12938.22
SegmentLabities
a) Technicl Texles Business (TTB)	446.37	48763	49729	446.37	497.29	416.95
b) Chemicls Business(CB)	1242.37	1177.90	830.78	124237	830.78	938.85
c) PackagingFilm Business(PFB)	481.30	633.91	273.36	481.30	273 36	390.99
d) Others	37.29	56.69	34.34	37.29	34.34	3702
Totlsegmentlabilities	2207.33	2356.13	1635.77	2207.33	1635.77	1783.81
e) Unallocble	3744.20	3630.18	3067.70	3744.20	3067.70	3529.61
Totl	5951.53	5986.31	4703.47	5951.53	4703.47	531342

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SRF -General [Restricted use]· This mail, document can be used by recipients for its intended purpose only.

SE

vO

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, 2022

• The above results of SRF Limited ('the Company') were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 03, 2022. The review report of the Statutory Auditors is being fried with BSE and National Stock Exchange. For more details on the standalone results, visit Investors section of our website at www.srf.com and financial results at Corporates 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 Secured Redeemable Non-Convertible Debentures of the face value of Rs 10 Lacs each aggregating to Rs. 250 Crores which were issued and allotted on September 17, 2020 at coupon rate of Three Months T Bill plus 188 bps, have been redeemed along with interest on maturity date, September 16, 2022.

• 4 The listed Commercial Papers aggregating to Rs. 500 Crores were outstanding as on September 30, 2022. The Company's commercial paper programme has been rated as CRISIL A1+ by CRISIL and IND A1+ by India Ratings. During the quarter ended September 30, 2022, the Company has repaid all commercial papers due and payable on the respective due dates.

• 5 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)

					Stndalone	Stndalone
SI No.	Paricular	30-Sep-22 (1)	Quarer Ended 30-Jun-22 (2)		30-Sep-21 (3)	Half Year 30-Sep-22 (4)		Ended 30-Sep-21 (5)		Year Ended 31-Mar-22 (6)
		Unaudited	Unaudited		Unaudited	Unaudited		Unaudited		Audited
1	Debt sericcoverage rato[(Earings before depreciation, interest andtax­	1.64		4.58	3.96		2.7		3.86	4.06
	currenttax)I(Gross interest andlease payments + scheduledprncipal
	repayment of long termdebts)]- Notannualised
2	Interest serice coverage ratio[(Earings before depreciation, interest andtax­	13.28		23.6	18.56		17.19		18.72	19.04
	current tax)IGross interest and leasepayments] - Notannualised
3	Bad debts to accounts receivable ratio% (Bad debts including prvision for	0.05%		-	0.04%		0.05%		0.04%	0.05%
	doubtul debts/Average traderecevables) - Notannualised
4	Debtors turover(Sale of producs/Average tradereceivables) - Annualised	751		8.13	7.37		8,57		8.04	833
5	Inventor turover(Sale of producs/Averageinventor) - Annuaised	5,80		6.41	6.31		6.7		6.3	6 48
6	Operatng margin%(Earings befre interest and tax /Total revenue frm	20.62%	24.27%		20.52%	22.49%		20.36%		22.60%
	operatons including other operatingincome) - Notannualsed
7	Netproft margin%(Prft afer tax /Total revenue from operations including	14.78%	16.39%		13.60%	15.60%		13.3%		15 14%
	other operatingincome) - Notannnualised
8	Debt equity ratio(Total debt including leaselabites/Total equity)	0.35		0.36	0.38		0.35		0.38	0.38
9	Long term debt to workingcpital[(Non curent borrowngs+current matures	1.65		1.50	1.97		1.65		1.97	1.77
	oflong term borowings+lease liabilites)/Workingcpital]
10	Total debts to total assets(Total debt including lease liabities/Total assets)	0.20		0.21	0.23		0.20		0.23	0.22
11	Curent rato(Total curent assets/Total curentlabilities)	1.25		1.32	1.28		1.25		1.28	1.35
12	Curent liablity rato(Total currentlabilites/Total liabilites)	0.64		0.65	0.68		0.64		0.68	0.61

• 6 Nomination and Remuneration Committee in its meeting held on July 21, 2022 allotted 3,800 equity shares of Rs. 10 each fully paid up to an eligible employee under Part B- SRF ESPS 2018 (ESPS Scheme) of SRF Long Term Share Based Incentive Plan (SRF L TIP). Trading approval in respect of these shares has been received from both BSE Ltd and National Stock Exchange of India Ltd. The proportionate cost relating to these shares allotted, along with Rs. 0.35 Crore consequential witholding tax, has been recognised as "Employee Benefits Expense".

Post the issuance of shares under ESPS Scheme, the total paid up equity share capital of the Company has increased from Rs. 296,42, 10,250 to Rs. 296,42,48,250.

• 7 During the quarter, the Company has received a favorable income tax assessment order pertaining to a prior year. According to the Order, the Company is eligible for a refund of Rs. 52.32 Crores (including interest of Rs. 20.15 Crores, as other income), which has been recognised in the statement of profit and loss.

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SRF • General [Restricted use] This mail, document can be used by recipients for its intended purpose only

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 RES UL TS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

8 Standalone unaudited statement of assets and liabilities as at September 30, 2022

				(R.inCrores)
			As	at
	ASSETS	Paricular	30-Sep-22 Unaudited	31-Mar-22 Audited
	Non-current asset Proper, plant and equipment Right-of-use assets		6621.6 253.33	5750.50 255.35
	Capitl work-in-progress		162.07	1617.04
	Other intangible assets		105.58	108.13
	Financial assets
	Investments		92 82	92.82
	Loans		283.89	410.05
	Others fnancial assets		56.91	140.53
	Non-current tax assets (net)		73.63	21.31
	Other non-current assets		17339	207.8
	Total non-current asset Curent asset Inventories Financial assets		9423.08 1932.95	8603.21 1750.88
	Investments		324 50	316.74
	Trade receivables		1431 01	1350.99
	Cash and cash equivalents		227.95	319.64
	Bank balancesother than above		8.90	8.87
	Loans Otherfnancial assets Other curent assets		357.91 185.91 312.02	178.2 22651 179.96
	Totl current asset Asset classifed as held for sale Total asset EQUITY AND LABILTIES Equit Equitsharecpital Other equit		4781.15 14204.23 297.4 7955.26	4332.01 3.00 12938.22 297. 7327.36
- • ( la' =F # NDi? 4	Total equit Labities Non-current labities Fnncial liabilites \B o r r w n g s Leaseliabilities Oterfnancial liabilites tvlsions eferre taxliablites(net) Total non-current labites Current labities Financiallabilites Borrowings Leaselabilities Trade payables (a) Total outstanding dues of micrenterprises and smalenterprises (b) Totaloutstanding dues of creditors other than micro enterprises and smal enterprises Other fnancial labilities Other current liabilites Provisions Current taxliabities (net)		8252.70 1054.15 93.08 236.74 46.13 685.71 2115.81 1734.37 23.73 71.21 1568.23 302.37 8726 8.22 40.33	7624.80 1189.73 95.18 153.53 44.86 613.04 2096.34 1585.17 20.66 55.98 1284.39 148.15 107.56 5.2 9.75
Totl current labities Totl labities � Totl equit and labities enerl!Hettriceduse]-This mail, document can be used by recipients for its intended purpose only		3835.72 3217.08 5951.53 5313.42 " 14204.23 12938.22 ls-

RF.G enera� l !Hettricted use] - This mail, document can be used by recipients for its intended purpose only Total equity and liabilities

vO 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.com Website: www.srf.com GIN - L18101DL 1970PLC005197

NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

9 Standalone unaudited cash flow statement for the half year ended September 30, 2022

			(Rs.in Crores)
		Half Year Ended
	Pariculars	30-Sep-22	30-Sep-21
		Unaudited	Unaudited
A	CASH FLOW FROM OPERTING ACTIVITIES
	Proft befre tax	1298.5	87.12
	Adjustment fr:
	Financ costs	67.50	42.13
	Interest Income	(37.15)	(17.54)
	Net gain on sale of proper,plant and equipment	(1.53)	(0.13)
	Net gain on fnancial assets measured at fir value thrugh prft and loss	(3.90)	(8.11)
	Credit impaired assets provided / writen of	0.74	0.50
	Depreciation and amorisation expense	219.83	206.27
	Prper, plant and equipment and inventor discardedIprovided / (writen back)	(0.82)	9.22
	Provision / liabilities no longer required writen back	(22.90)	(0.05)
	Net unrealised curency exchange fuctuaton (gain) / loss	2.17	(21.09)
	Employee share based payment expense	4.18	0.49
	Stamp dut on purchase of investments	0.02	0.05
	Adjustments fr (increase)Idecrease in operatng assets:-
	Trade receivables	(70.32)	(182.86)
	Inventories	(180.5)	(201.40)
	Loans(current)	(029)	(0.28)
	Loans(non-current)	(24.73)	(1.68)
	Other assets (current)	(153.86)	28.49
	Other assets (non-current)	(7.29)	9.82
	Adjustments for increase/ (decrease) in operating liabilities:­
	Trade payables	283.56	136.04
	Prvisions	4.07	3.92
	Otherlabilties(curent)	45.24	4.3
	Cash generated fom operations	1422.52	880.34
	Income taxespaid(net ofrefunds)	(192.91)	(121.92)
	Net cash generated from operatng activities	1229.61	758.42
B	CASH FLOW FROM INVESTING ACTIVITIES
	Net sale/ (purchases) of current investments	(3.86)	(16342)
	Stamp duton purchase of investments	(0.02)	(0.05)
	Interest received	12.08	14.31
	Bank balances not considered as cash and cash equivalents	29.85	135.17
	Payment for purchase of prpery, plant and equipment, capital work-in-	(1099.9)	(538.54)
	prgress and other intangible assets
	Prceeds frm disposal of prper,plant and equipment	2.9	1.1 1
	Loansgiven tosubsidiares(net)	(718)	-
	Net cash used in investing activities	(1066.13)	(551.42)

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SRF • General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.

vO SF=

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 - L181010L 1970PLC005197

NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

9 Standalone unaudited cash flow statement for the half year ended September 30, 2022

			(Rs.inCrores)
		Half Year Ended
	Pariculars	30-Sep-22	30-Sep-21
		Unaudited	Unaudited
C	CASH FLOW FROM FINANCING ACTIVITIES
	Repayment of long term borrwings	(465.18)	(180.38)
	Net prceeds fom shor term borowings	398.33	94.18
	Dividends on equity share capital paid	(16.60)	(71.24)
	Payment towards lease liability	(14.35)	(8.2)
	Finance costs paid	(67.37)	(40.20)
	Net cash used in financing activities	(255.1)	(206.06)
	Net increaseI(decrease) in cash and cash equivalent	(91.69)	0.94
	Cash and cash equivalents at the beginning of the period	319.64	86.72
	Cash and cash equivalent at the end of the period	227.95	87.66

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SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.

JO 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.com Website: www.srf.com CIN -- L 18101DL 1970PLC005197

NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

10 Limited Review:

The Limited Review, as required under 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 August 10, 2021 has been completed by the Statutory Auditors.

Place : Gurugram Date : November 03, 2022

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For and on behalf of the Board
Ashish Bharat Ram
Chairman and Managing Director
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RF - General [Restricted use] - This mail, document can be used by recipients far its intended purpose only

Building No.10, 12th Floor, Tower-C, DLF Cyber City, Phase-II, Gurugram -- 122 002, India

B S R & Co. LLP

Chartered Accountants

Telephone +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 2022 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

To the Board of Directors of SRF Limited

• I. We have reviewed the accompanying Statement of unaudited consolidated financial results of SRF Limited ("the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 September 2022 and year-to-date results for the period from O 1 April 2022 to 30 September 2022 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52( 4) of the Securities and Exchange Board oflndia (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.

• This Statement, which is the responsibility 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 principles 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. Our responsibility is to express a conclusion on the Statement based on our review.

• 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 oflndia. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially 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 identified 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.

1. The Statement includes the results of the following entities:

2. Holding Company:

3. SRF Limited

Subsidiaries:

• a. SRF Global BY

• b. SRF Flexipak (South Africa) (Pty) Limited

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• c. SRF Industries (Thailand) Limited

• d. SRF Industex Belting (Pty) Limited

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

Registered Office:

B S R & C o (a partnership firm with Registration No. BA61223) converted into B SR &Co. \LP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

<<1 of 3>>

8 S R & Co. LLP

Subsidiaries ( continued):

• e. SRF Europe Kft

• f. SRF Holiday Home Limited

• g. SRF Employees Welfare Trust (controlled trust)

• h. SRF Altech Limited

• Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of 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, including the manner in which it is to be disclosed, or that it contains any material misstatement.

• We did not review the interim financial information of three Subsidiaries included in the Statement, whose interim financial information reflect total assets of Rs. 3,342.47 crores (before consolidation adjustments) as at 30 September 2022 and total revenues of Rs. 759.82 crores (before consolidation adjustments) and Rs. 1,614.40 crores (before consolidation adjustments), total net profit after tax of Rs. 39.23 crores (before consolidation adjustments) and Rs. 142.53 crores (before consolidation adjustments) and total comprehensive income of Rs. 38.97 crores (before consolidation adjustments) and Rs. 142.17 crores (before consolidation adjustments), for the quarter ended 30 September 2022 and for the period from l April 2022 to 30 September 2022 respectively, and cash outflows (net) of Rs. 28.93 crores (before consolidation adjustments) for the period from l April 2022 to 30 September 2022, as considered in the unaudited consolidated financial results. 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.

Our conclusion is not modified in respect of this matter.

1. The subsidiaries mentioned in paragraph 6 above 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 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.

r

<<2 of 3>>

B S R & Co. LLP

1. The Statement includes the interim financial information of four Subsidiaries which have not been reviewed, whose interim financial information reflect total assets of Rs. 266.58 crores (before consolidation adjustments) as at 30 September 2022 and total revenues of Rs. 40.21 crores (before consolidation adjustments) and Rs. 74.83 crores (before consolidation adjustments), total net profit after tax of Rs. 3.98 crores (before consolidation adjustments) and Rs. 1.97 crores (before consolidation adjustments) and total comprehensive income of Rs. 3.98 crores (before consolidation adjustments) and Rs. 1.97 crores (before consolidation adjustments), for the quarter ended 30 September 2022 and for the period from I April 2022 to 30 September 2022 respectively, and cash outflows (net) of Rs. 5.08 crores (before consolidation adjustments) for the period from I April 2022 to 30 September 2022, 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.

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For B S R & Co. LLP
�Chartered Accountants
?stration No.: 101 2 /W-1 022
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Gurugram Membership No.: 090075
03 November 2022 UDIN:22090075BBWGQV9376
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<<3 of 3>>

vO SRF LIMITED S-FF

CONSOLIDATED FINANCIAL RESULTS

FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

SF • General [Restricted use] - This mail, document can be used by recipients for its intended purpose only

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O
SF
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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 Exrn, Delhi - 10091 Tel. No (Regd office) : (+91-11) 49482870 Fax : (+91-11) 49482900

E-mail: info@srf.comWebsite:w .srf.com CIN -L18101DLI970PLC005197

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

						(Rs.in Crores,	(Rs.in Crores,	except	per share data)
					Consoldated
				Quarer Ended		Half Year Ended			Year Ended
S.No.		Paricular	30-Sep-22 (1	30-un-22 (2)	30-Sep-21 (3)	30-Sep-2 (4)	30-Sep-21 151		31-Mar2 (6)
			Unaudited	Unaudited	Unaudited	Unaudited	Unudited		Audited
	Revenue from opertions
1	a)Sale of products		351.03	385222	281453	75325	59333		12312.75
	b) Otheroperatngrevenues		7675	42.5	24.	119.25		45 04	120.91
	Total Revenue from operations		372778	3894.72	2838.97	762250	5538.37		12433.66
2	Otherincome		32.74	985	11 12	42.59		2490	42.80
3	Total Income		3760.52	390457	2850.09	7665.09	5563.27		12476.46
4	Expenses
	a)Cost of materas cnsumed		1785.67	1906,9	1502 2	369263	2,795 58		6171.10
	b) Purhases of stock-n-tade		62.58	75.13	14.41	137,71		43 82	175.59
	c) Changes in inventores of fnished	goods, wor-n-progress and stock in trade	104.68	(12432)	(86.55)	(19.64)		(77.58)	(279.75)
	d)Employee benefts expense		195.27	194 21	17.73	389 48		359.73	780.00
	e) Financecosts		4447	3250	23 36	76.97		50.83	115.93
	fDeprecation and amorsation expense		139.30	130.73	130 29	27003		253 24	517 23
	g)Power and fel		37368	41030	263.82	78398		495.61	1135.5
	h) Excange crency fuctuation (gain) / loss		3.08	24.87	(20.60)	60 95		(2778)	(7271)
	iOter expenses		400.71	41260	312.99	81331		62.49	1347 9
	Totalexpenses		3142.4	306298	231767	6205.42	495.9		9890.91
5	Proft before tax forthe perod		618.08	841.59	53242	149.67	1067.33		2585.55
6	Taxexpense
	- Taxexpense		16926	23359	149 97	402 85		289 60	713 94
	- Tax adjustment reated to earier years		(32 17	-	-	(32.17)			(1731)
7	Net Proft afer tax for the perod		480.99	608.00	382.45	1088.99		77.73	1888.92
8	OtherComprehensiveIncome
	A ltems tat wl notbe recassifed to	prft or loss
	{i)GainI(loss) of defnedbenef	oblgation	1 3 6	(12.41)	2.55	(1105)		(0,50)	(7 47)
	Income taxon item (i) abve		(0.8)	4 34	(0.89)	38		0 18	255
	B Itemsthat wiberecassied to prforloss
	{i)Efecveporonof gain/{loss) onhedginginstrments in acsh fowhedge		(1365)	(16295)	6037	(29760)		21 35	39 99
	Incmetaxoniem () above		36 55	47.59	(22.75)	8 14		(9.3)	(13 03)
	(ii)Costof hedging resere		1 65	259	1 95	424		(0,86)	(2 17)
	Incometaxon item{ii)above		(038)	(0.4)	(0.70)	(1.12)		(1.01)	(0.5)
	(i)Exchange dierences ontransationoffregn operatons		(5660)	(52.65)	(50 48)	(10925)		(46.35)	1.30
9	Totaloher ComprehensiveIncomefor theperiod		(152.55)	(17423)	(9.95)	(326.78)		(36.62)	20.72
10	Total Comprehensive Income for the perod		328.4	43.77	372.50	76221		741.11	1909.64
11	Paid up equit share cpita (Rs.10 each fy paid up)		296 42	296 42	59.5	296.42		59.5	296.42
12	Other equit excuding revaluation resere		8927.39	870378	746 7	8927.39	7466.67		826792
13	Net Worh		922381	9000 20	7525 92	9223.81	7525 92		85643
14	Paid Up Debt Captal		-	250.00	25.00	-		250.00	250 00
15	DebentureRedempion Resere			62 5	62.50			62.5	62.50
16	Bascand Diluted EPS fr te pero	(not annuaised)	1623	20.51	1291	36.74		26 25	6375

Net worth = Paid up share capital (excluding forfeited shares) + Other equity

•• paid up Debt Capital comprises of listed Debentures only Refer Note no. 6

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SR+.General [Restricted use]. Thi mnad, document can be ued b tecipents for its intended purpose only

O SF F=

SRF LIMITED

Registered Office: The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayr 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 - L18 I 0IDLl 970PLC005 I 97

STATEMENT OF CONSOLIDATED UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

						(Rs In Crore)
			Consoldated
		QuarerEnded		Half Year	Ended	Year Ended
Paricular	30-Sep-2 (1)	30-Jun-22 (2	30-Sep-21 (3)	30-Sep-22 (4)	30-Sep-21 (5	31-Mar-22 (6)
	Unaudited	Unauditd	Unaudited	Unaudd	Unaudited	Audited
Segment Revenue
a) Technicl Texiles Business (TB)	46 22	571.02	55788	1037.24	1050.81	2085.24
b) Chemicls Business (CB)	1830 16	1722 43	112 35	355259	2240.01	5240.78
c) Packaging Film Busness (PFB)	1331.02	14960	1071.74	282702	2113 02	4779 21
d) Ohers	100.3	105 60	86 29	205.98	139.93	340.34
Total Segment Revenue	3727.78	3895.05	2842.26	7622.83	5543.7	1245.57
Less:Iner Segment Revenue	-	0.33	329	0.33	5.40	11.91
Revenue from Operations	3727.78	3894.72	2838.97	7622.50	5538.37	12433.66
Segment Results
(Proft before Interest and Tax from eac Segment)
a) TechniclTexilesBusiness (TB)	62,93	116.21	132 82	179.14	266.50	471.43
b) Chemicls Busness (CB)	517.28	520 21	251.07	1037 49	473 36	1396 91
c) Packaging Fim Business(PFB)	101.4	29517	17951	396.61	416 29	9633
d) Others	7.59	6.76	579	1435	7.69	20.35
TotalSegment Result	689.24	938.35	56919	1627.59	1163.84	2835.02
Less/(Add):
i) FinancCosts	4447	32 50	23 36	76.97	5083	115.93
ii) OtherUnalobleExpenses (NetofIncme)	26.69	64.26	1341	90.95	45 68	133.54
Proft before tax for the perod	618.08	841.59	532.42	1459.67	1067.33	2585.55
Segment Assets
a) TechniclTexiles Business (TB)	1911 74	2022.26	1790.47	1911.74	1790 47	1818 01
b) ChemicsBusiness (CB)	8445 28	800309	6209 81	845 28	6209 81	7193 65
c) Packaging Film Business(PFB)	5770 74	5940 76	4909 25	5770 74	4909 25	5633 10
d) Others	157.41	18662	17285	157.41	1785	174.94
Total segment assets	16285.17	16152.73	13082.38	16285.17	13082.38	14819.70
e)Unaloble	767 85	63.67	928 22	767.85	928 2	95391
fAssets classifed as heldfor sale	-	-	5 22	-	5 22	3OD
Total	17053.02	16816.40	14015.82	17053.02	14015.82	1577661
Segment Liabilities
a)Tecnicl Texiles Business (TB)	4637	487 63	49729	446 37	497 29	416 95
b) Chemics Business(CB)	1262 27	1202 23	833 58	126227	83358	950.33
c) PacagngFilm Business (PFB)	1355.1	1606 91	1240 66	1355.41	1240 66	149 62
d) Oters	37 29	5669	34 3	3729	34.34	37.02
Total segment liabilities	3101.34	3353.46	260587	3101.34	2605.87	2853.92
e) Unallocble	476,85	4461.7f	3883,02	472685	388302	4357 33
Total	7828.19	7815.1	6488.89	782819	6488.89	7211.25

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SR -Gretal [Restricted use] This mad, document can be used by recipients for its intended purpose only

N SF

SRF LIMITED

Registered Office: The Galleria, DLF Mayur Yihar, Unit No. 236 & 237, Second Floor, Mayur Vihar Place, Noida Link Road, Mayur Yihar Phase I Extn, Delhi- 1 I 0091

Tel. No (Regd office) : (+91-11) 49482870 Fax: (+91-11) 49482900

E-mail: info@srfcom Website: www.srfcom CIN - L18101DLI 970PLC005 l 97

NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

• 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 approved by the Board of Directors at its meeting held on November 03, 2022. The review report of the Statutory Auditors is being filed with BSE and National Stock Exchange. For more details on the consolidated results, visit the Investors section of our website at www.srf.com and financial results at Corporates section ofwww.nseindia.com and www.bseindia.com.

• 2 These financial results of the Group 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 Secured Redeemable Non-Convertible Debentures of the face value of Rs.IO Lacs each aggregating to Rs. 250 Crores which were issued and allotted on September 17, 2020 at coupon rate of Three Months T Bill plus 188 bps, have been redeemed along with interest on maturity date, September 16, 2022.

• 4 The listed Commercial Papers aggregating to Rs. 500 Crores were outstanding as on September 30, 2022. The Company's commercial paper programme has been rated as CRISIL Al+ by CRJSIL and IND Al+ by India Ratings. During the quarter ended September 30, 2022, the Company has repaid all commercial papers due and payable on the respective due dates.

• 5 Additional disclosures as per Clause 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements Regulations, 2015 disclosure :

					(Ratios/percentages	(Ratios/percentages	as applicable)
				Consolidated
		Quarter Ended			Half Year	Ended	Year Ended
S No.	Partcular	30-Sep-22	30-Jun-22	30-Sep2I	30-Sep22	30-Sep21	31-Mar-22
		(	(2)	(3)	(4)	(5)	(6)
		Unaudied	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Debt serice coverage rato{(Eainusbefre depreciaton, interest	I68	5,09	4 04	263	4.08	435
	ad ta-curent Ta)/ (Grss Interest adlease payments+
	scheduled prncipa repayent of long ter debts)} -Not
	aualised
2	Interst srice coverage rato {(Eaingsbefr depreiation,	13.6	25.11	20.25	1798	20.81	20.99
	interest ad ta-curent ta)IGross interest ad leae payments)} ­
	Not auaised
3	Bad debts to accounts receivable rto % ( Bad debts including	007%		0 04%	0 08%	0 04%	0 06%
	provision fr doubtuldebts/ Avergetadereceivables) - Not
	auaised
4	Debtortover(Sale ofproduct s/Avergetde receivables)­	7.27	7.82	7.23	8.20	7.85	8.03
	Auaised
5	Inventor tover (Sae of products/Average Inventor) ­	5.93	656	6.55	6.66	6.77	6.83
	Aualsed
6	Operatngmagin%(Eaingsbefre interest ad ta/ Total	17.7%	22. %	19.58%	20.16%	20.19%	2173%
	revenuefomopratons incuding otheroperatngincome) - Not
	auais
7	Net proft magin %(Proftafer ta /Tota revenue fom	12.90%	15.61%	13.47%	14.29%	14.04%	15.19%
	opertons includingotheroperatngincome) - Not auaisd
8	Debt equit rto(Totadebt includigleaelabilites/Total	0.42	0.1	0.45	0.2	0.5	0.43
	equit)
9	Longterdebt toworkingcapital	3.98	3.25	7.	3.98	733	3.22
	((Non curentborowings+curent matrtofong tenn
	borowings+leaseliabilites)/Working capita)
10	Total debts to Totaassets	0.22	0.22	0.24	0.22	0.24	0.23
	(Tota debt incuding lease liabiltes/ Tota a ets)
I	Cuentrto (Total curentassets/Totalcurentlabites)	12	15	108	112	108	118
12	Curentlabilit Rato(Total curentliabilites/Totalabilites)	0.64	0.66	0.65	0.64	0.65	0.62

• 6 During the quarter, the Company has received a favorable income tax assessment order pertaining to a prior year. According to the Order, the Company is eligible for a refund of Rs.52.32 crores (including interest of Rs.20.15 crores, as other income), which has been recognised in these consolidated statement of profit and losss.

7 Nomination and Remuneration Committee in its meeting held on July 21, 2022 allotted 3,800 equi shares of Rs IO each lly paid up to the eligible ty fu employee under cheme) of S Long T Share Based Incentive Plan app val in respect of Part B- SRF ESPS 2018 (ESPS S RF erm (SRF LTIP) Trading ro these shares has been received om both BSE d and National Stock Exchange o ndia d. The prop ionate cost relating to these shares allo ed, fr Lt fl Lt ort tt 0.35 along with Rs. crore consequential witholding tax, has been recognised as "Employee Benefits Expense" \fly Post the issuance of shares under ESPS Scheme, the total paid up equity share capital of the Company has increased fro . �� ­ 296,42,48,250. /.as

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$Rf Genet [Reinted get-hi mil document tan be ued by recipients tor ts «tended purpose only

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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- 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, 2022

8 CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2022

		(Rs.in Crores)
	Asat	As at
Paricular	30-Sep-22	31-Mar-22
	Unaudited	Audited
ASSETS
Non-curent assets
Prpery, plant and equipment	8767 09	8050 54
Right-of-use assets	281.79	255.35
Captal worin-progress	1843 47	1671.63
Otherintangible assets	114.70	119.40
Financial assets
Investments	4.16	4.16
Loans	39 45	14.72
Others fnancial assets	56.89	140.52
Defered tax assets	15.61	11.60
Non Curent tax assets(nel)	73.64	2131
Other non-curent assets	291.84	233.06
Total non-curent assets	11488.64	10522.29
Curent assets
Inventores	2369 94	213847
FinancialAssets
Investments	32450	316 74
Tade receivables	1868.92	1792 45
Cash and cash equivalents	325.04	45048
Bankbalances other than above	38.90	887
Loans	902	880
Other fnancal assets	18682	22583
Other curent assets	4124	309 68
Total curent assets	5564.38	5251.32
Asset classifed a heldforsale		3.00
Ttal assets	17053.02.	15776.61
EQUIT AND LABILTIES
Equit
Equity sharecpital	297 44	297.4
Oher equity	8927.39	826792
Total equit	9224.83	8565.36
Liabities
Non-curent labites
Financial liabilites
Borowings	1674 19	175330
Leaselabilities	94 12	95.18
Otherfnancial liabilities	236.4	153.86
Provisions	5302	51.58
Defered taxliabilites (net)	74432	677.6
Other non-curent liabilites	35,78	39,56
Total non-curent labites	2838.17	2794
Curent labilities
Financial Labilites
Borowings	2041,08	186.05
Lease liabilites	23.4	20.66
Trade payabes
a) Total outstandng dues of micro enterrses and smaenterrses	71.21	55.98
b)Total outstandingdues of crediors other thanmicro enterrses andsmaenterrses	217.16	2040.37
Otherfnancial liabilities	526.81	371.70
Other curent liabiltes	10097	143 97
Provisions	9.92	7.38
Curenttalabiiies(net)	44 13	14.20
Total curent labities	4990.02	40.31
Ttal liabilities	7828.19	7211.25
Total equit and labilities	17053.02	166.61

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$5 General (fen«ctd }- Ts ir.et, dorrr tr hr uard 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, 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 -L18101DL 1970PLC005197

NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

• 9 CONSOLIDATED UNAUDITED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30, 2022

			(Rs. in Crores)
		Half Year	Ended
	Paricular	30-Sep-22	30-Sep-21
		Unaudited	Unaudited
A	CASH FLOW FROM OPERTING ACTIVTIES
	Proft before tax	1,459.67	1,067.33
	Adjustments for:
	Finance costs	76.97	50.83
	Interest Income	(31.07)	(13.39)
	Net gain on sale of prper, plant and equipment	(1.53)	(0.13)
	Net gain on fnancial assets measured at fair value thrugh prf and loss	(3.90)	(8.11)
	Credit impaired assets prvided / (writen back)	1.7	0.50
	Amorisaton of grnt income	(0.47)	(0.90)
	Depreciaton and amorisation expense	270.03	253.24
	Prper, plant and equipment and inventor discarded / provided	(0.82)	9.18
	Prvision / liabiities no longer required writen back	(22.90)	(0.05)
	Net unrealised currency exchange fuctuations (gain) / loss	23.75	(11.59)
	Employee share based payment expense	4.18	0.9
	Stamp dut on purchase of Investments	0.02	0.05
	Changes in working capital:
	Adjustments for (increase) / decrease in operatng assets :
	Trade receivables	(128.85)	(257.05)
	Inventories	(263.50)	(335.64)
	Loans (Curent)	(0.34)	0.35
	Loans (Non-current)	(24.73)	(1.68)
	Other assets (Curent)	(165.19)	6.95
	Other assets (Non-current)	(7.29)	9.82
	Adjustments for increase/ (decrease) in operting liabiities:
	Trade payables	20697	332.37
	Prvisions	4.64	4.63
	Other labilties (Non-current)	(0.33)	-
	Other labilities (Curent)	38.26	(14.09)
	Cash generated from operations	1,435.04	1,093.11
	Income taxes paid (net of refunds)	(214.94)	(138.67)
	Net cash generated from operating activites	1,220.10	954.44
B	CASH FLOW FROM INVESTING ACTIVIES
	Net Sale/ (purchases) of curent investments	(3.86)	(163.2)
	Stamp dut on purchase of Investments	(0.02)	(0.05)
	Interest received	7.59	8.73
	Bank balances not considered as csh and csh equivalents	0.31	135.19
	Payment for purchase of prper, plant, equipment, capital work-in-prgress and	(1,239.55)	(662.83)
	intangible assets
	Upfrnt payment made fr acquistion of Right of use land	(27.57)	-
	Prceeds frm disposal of proper, plant and equipment	0.81	1.11
	Net cash used in investng actvites	(1,26229)	(681.27)

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SRF - General [Restricted use] - This mall, 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, 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 GIN- L18101DL1970PLC005197

NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30,2022

9 CONSOLIDATED UNAUDITED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30, 2022

			(Rs. in Crores)
		Half Year	Ended
	Paricular	30-Sep-22	30-Sep-21
		Unaudited	Unaudited
C	CASH FLOW FROM FINANCING ACTIVITIES
	Prceeds frm long term borrowings	125.69	114.15
	Repayment of long term borrwings	(484.51)	(218.51)
	Net prceeds / (repayment) frm shor ter borowings	485.33	(25.88)
	Dvidends on equit share cpital paid	(16.60)	(71.24)
	Payment towards lease labiit	(14.38)	(8.2)
	Finance costs paid	(79.59)	(46.24)
	Net cash used in fnancing activities	(706)	(256.14)
D	EFFECT OF EXCHANGE RTE MOVEMENTS	(9.19)	(0.88)
	Net increase in cash and cash equivalent	(125.4)	16.15
	Cash and csh equivalents at the beginning of the period	450.48	138.29
	Cash and cash equivalent at the end of the period	325.04	154.44

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SRF . General [Restricted use] - This mail, document can be used by reciptents for its intended purpose only

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SSE
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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-L18101DL1970PLC005197

NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022

• 10 Limited Review:

The Limited Review, as required under 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 SEBJ/HO/DDHS/P/CJR/2021 /613 dated August I 0, 2021 has been completed by the Statutory Auditors.

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For and on behalf of the Board
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Place : Gurugram
Date: November 03, 2022
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Ashish Bharat Ram
Chairman and Managing Director
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