SRF Ltd. — Interim / Quarterly Report 2025

Jan 29, 2025

The Corporate Relationship Department, BSE Limited

Ist Floor , New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Mumbai 400 001

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

Scrip Code- 503806

Scrip Code-SRF

SRF/SEC/BSE/NSE

29.01.2025

Dear Sir,

Unaudited Financial Results for the quarter and nine months ended 31.12.2024 alongwith Limited Review Report for the quarter ended 31.12.2024

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 29[th] January, 2025 (commenced at 12.00 Noon. and concluded at 03.35 p.m.) has inter-alia considered and approved –

1. Unaudited Standalone Financial Results for the quarter and nine months ended 31.12.2024 (copy enclosed alongwith Limited Review Report by Statutory Auditors for quarter ended 31.12.2024)

2. Unaudited Consolidated Financial Results for the quarter and nine months ended 31.12.2024 (copy enclosed alongwith Limited Review Report by Statutory Auditors for quarter ended 31.12.2024)

Thanking you,

Yours faithfully,

For SRF LIMITED

RAJAT Digitally signed by RAJAT LAKHANPAL LAKHANPAL Date: 2025.01.29 15:45:28 +05'30'

Rajat Lakhanpal Sr. VP (Corporate Compliance) & Company Secretary

Encl: As above

Building No. 10, 12th Floor, Tower-C DLF Cyber City, Phase - II Gurugram - 122 002, India Tel: +91 124 719 1 0 Fax. +91 124 235 8613

B S R & Co. LLP

Chartered Accountants

Limited Review Report on unaudited standalone financial results of SRF Limited for the quarter ended 3l December 2024 and year to date results for the period from 1 April 2024 t0 31 December 2024 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

• I . We have reviewed the accompanying Statement of unaudited standalone financial results of SRF Limited (hereinafter referred to as "the Company") for the quarter ended 3 1 December 2024 and year to date results for the period from I April 2024 to 31 December 2024 (the Statement").

• 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 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 (Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBJ/HO/DDHS/P/CIR/2021/613 dated 1 0 August 2021, as amended. Our responsibility is to issue a report 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 of India. 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.

• 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 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 ma er in which it is to be disclosed, or that it contains any material misstatement.

==> picture [63 x 25] intentionally omitted <==

----- Start of picture text -----

Gnrpram
29 January 2025
----- End of picture text -----

For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 .­ Ashish Bansal Partner Membership No.: 077569 UDIN: 25077569BMOVUQ3613

Registered Office:

14th Floor, Central B Wing and North C Wing, Nesco tr Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 40 3

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

Page 1 of 1

\ .

vO SRF LIMITED SFF

STANDALONE FINANCIAL RESULTS

FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

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

✓,o FF

SRF LIMITED

Registered Office: The Ga eria, 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: into@srt com Website: www srf com CIN -- L181010L1970PLC005197

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

(Rs. in Crores, except per share data)

				Sndalone	Sndalone
S.No.	Paricular	31.Dec-24	Quarer Ended 30-Sp24	31-Dec-23	Nine Months Ended 31-Dec-24 31-ec-23		Year Eded 31-Mar24
		(1)	(2)	(3)	(4)	(5	(6)
		Unaudited	Unaudited	Unaudited	United	Unaudited	Audied
1	Revenue from opertons
	aSale of producs	2681 89	261587	249 03	7974 39	770831	10565 92
	b Other operating rvenues	7975	87.6	57 31	227.08	158,73	220 75
	Totl Revenue from opertions	2761.6	2703.53	2506.3	8201.47	7867.0	10786.67
2	Other incme	52.78	43 55	2779	131.40	8687	119 42
3	Totl Income	281442	2747.08	2534.13	8332.87	7953.91	10906.09
4	Expenses
	a.Costof materas cnsumed	1379.73	1382 55	1278 01	4120 23	3839 21	5196,28
	b Purcases of stok-in-trade	18 48	18 74	23 87	6.3	62 65	83 61
	cChanges ininventoresoffnshedgoos,wor-in-progress and stok in tde	(62 92)	(5 29)	(97 59)	(15227)	(13 0)	(114 32)
	d.Employee benefts expns	21672	211 16	2078	63905	518	79033
	eFinancecost	76 07	72 01	51 83	223 78	16760	23560
	fDepreciation and amorisation expense	158 81	158 39	141 32	472 25	4031	555,85
	gPower andfel	27.73	285 22	271.04	87 45	858.05	113490
	h Exchange crency fucuation (gan) / loss	26.08	16 59	14 39	65.80	60.43	78.93
	i.Other expenses	348 38	3935	291.40	1035 24	860.16	122703
	Totl expenses	2439.08	243.72	2182.13	7317.87	6695.07	9188.1
5	Proft bfortfor te pro	375.34	303.36	352.00	101500	1258.8	171.88
6	Tax expense
	-Tax expense	96.91	78 25	91.71	261.52	324.43	4.3
	- Tax adjustment related to earier vears	(1.3)	.	(252)	(1.3)	(2 52)	(10 58)
7	Net Proft afer tx for the perod	279.86	225.11	26281	754.91	936.93	1374.03
8	Oher Comprhensive Income
	A Items that wl not be rcassifed to proft or loss
	()(a) GainI(loss)onrmeasurment of defnedbneft obligaton	201	5 09	320	3 62	(411)	(4 59)
	()(b) Incme taxonitem (i)(a) above	(0 51)	(1 28)	(0 81)	(0.91)	103	1.16
	B Items thatwlbe reclassife to proft or loss
	()(a) Efecive prion ofgainI(loss) onhedginginstrments in a csh fow hedge	(119 07)	(36 98)	1273	(104 19)	7341	127,90
	(i)(b) Incmetxon item (i)(a) above	29 96	9 31	(320)	26 22	(18 47)	(3219)
	(i)(a) Cost of hedging resere	(1.37)	(2 05)	(0 74)	(4 33)	(1 80)	(1.70)
	()(b) Incmetax onitem (i)(a) above	034	052	0 1 8	1.09	045	043
9	Totl Oter Comprhensive Income / (loss) fr the prod	(88.6)	125.39)	11.36	(78.50)	50.51	91.01
10	Totl Comprhensive Incom for the perod	191.22	19.72	274.1	676.41	987.4	1465.04
11	Pad up equit share cpital (Rs 10 eac flly paid up)	2942	296 42	29 42	29 42	296 42	29642
12	Otherequit excluding revaluation resere	10792 33	10598 99	9843 27	1079233	9043 27	1021627
13	Net Wor'	11088 75	10895 41	10139 69	1108875	10139 69	10512 69
14	CapitalRedemptionResere	10 48	10 48	10 48	10 48	10 48	10 48
15	BasicandDiluted EPS forlhe perod (not annualsed)	94	7 59	887	2547	31.61	46.35

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

==> picture [87 x 90] intentionally omitted <==

----- Start of picture text -----

8 Co
<
�
GURUGRAM +
tr
4¥
k
----- End of picture text -----

==> picture [120 x 82] intentionally omitted <==

$ General[etrited u se ] Ji mail, do went tan be used byre pints or its inteded purpose only

==> picture [39 x 22] intentionally omitted <==

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 --L 18101 DL1970PLC 5197

STATEMENT OF STANDALONE UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

(Rs. in Crores)

						(inCrors)
			Standalone
		Quarer Ende		Nine MonthsEnded		Year Ended
Parcular	31-Dec-24	30-Sep-24	31-Dc-23	31-Dec-24	31-Dec-23	31-Mar-24
	(1)	(2)	(3	(4)	(5)	(6)
	Unaudited	Unaudited	Unaudtd	Una	Unaudted	Audited
Segment Revenue
a) Tecnicl Texiles Business(TB)	509 79	535 53	45,3	1570 61	1429 16	1898 01
b) Chemicls Business (CB)	155 05	135 10	1382 67	4317 67	4436 91	6237 33
c) PacagingFilm Business (PFB)	645 68	71251	555 41	198115	164929	2197 18
d) Others	101 14	112,81	113,57	34011	359 14	46530
Total Segment Revenue	2761.66	2705.95	2510.01	8209.54	7874.50	10797.82
Less:InterSeamentRevenue	002	242	3,67	807	7 46	1 1 1 5
Revenue from Operatons	2761.64	270353	2506.3	8201.47	7867.04	1078667
Segment Resul
(Proft beforinterestandtax fom eacSegment)
a) Technicl Texles Business(TB)	5878	71.21	68.6	19755	203 99	27368
b) Cemicls Busness(CB)	33 75	24,43	320 52	917 23	113051	1628.8
c) Pacging Film Business (PFB)	6335	7702	23.6	18710	105 3	122 55
d) Other	15 67	1719	21.21	543	77 46	93 02
Total SeamentResults	5015	411.85	4.15	1358.31	1517.30	2117.73
Less/(Add):
i) FinancCost	7607	7201	51.83	223 78	16760	2356
ii)OtherUnallocble Expenses(net ofincome)	5014	348	30 32	119 53	90 86	16425
Proft before tax for the perod	375.34	303.36	352.00	1015.00	1258.8	1717.88
Segment Assets
a) Technc Texles Business (B)	2169 27	2152.3	19734	216927	1967 3	2041 96
b) Chemcs Business (CB)	10979 61	1070336	1013.17	10979 61	10613 17	10689 28
c) PackagingFilmBusness (PFB)	239217	2483 80	2307 4	2392 17	2307 46	2321 37
d) Oters	191.02	20446	167,31	191 02	167 31	17830
Totalsegment assets	15732.07	1554.05	15055.28	15732.07	15055.28	15230.91
e)Unallocble	2414.5	2101 3	177006	2414 45	1770.0	2133 73
Total	18146.52	17645.35	16825.34	18146.52	168253	1364.6
SegmentLabites
a) Tecnicl TexilesBusiness (TB)	430 88	46136	502 10	43088	50210	525 38
b) Chemcls Business(CB)	101419	897 8	91150	101419	911 50	103367
c)Pacaging Film Business(PFB)	38703	5949	6770	38703	66770	62243
d)Others	3386	42 32	43 83	338	43 83	41 60
Total segment liabilities	1865.96	1992.01	2125.13	1865.96	2125.13	2223.08
e) Unallocabe	5190 79	4756.91	4559.50	5190 79	4559 50	4627 85
Total	7056.75	6748.92	6684.63	7056.75	6684.63	6850.93

==> picture [85 x 91] intentionally omitted <==

==> picture [110 x 82] intentionally omitted <==

----- Start of picture text -----

LIM
$'
e-
----- End of picture text -----

==> picture [171 x 6] intentionally omitted <==

==> picture [39 x 21] intentionally omitted <==

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 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

• The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on January 29, 2025 The review report of the Statutory Auditors is being filed with SSE Limited and National Stock Exchange of India Limited For more details on the standalone results, visit the Investors section of our website at www.sf com and financial results at "Corporates Announcements" section of www nseindia com and www.bseindia. com

• 2 These financial results of the Company have b n 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, 600 crores were outstanding as on December 31, 2024 The Company's commercial paper programme has been rated as CRIS A1+ by CRISIL and IND A1+ by India Ratings During the quarter ended December 31, 2024, 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	lperentages	lperentages	asapplicable)	asapplicable)
						Stndalone
SI. No	Paricular	31-D-24 (1)	QuarerEnded 30-Sp-24 (2)		31-Dec-23 (3)		Nine Monts 31-Dc-24 (4)	Ended 31-Dec-23 (5)		Year Ended 31-Mar-24 (6)
		Unadied	Unaudited		Unaudited		Unaudited	Unaudited		Auditd
1	Debtserice cveragertio[Earings before deprciation,interestandtax­	2 25		2 11		2 90	2 1 4		308		3.34
	curenttax)/(Grossinterestand leasepayments+sceduled prncipal
	repayment of long ter debts)] - Not annualised
2	Interestserice coverge ratio[(Earingsbefore depreciation, interestand tax	643		5 63		645	595		7 05		735
	curenttax)/ Gross interest andleasepayments] - Notannualsed
3	Bad debts to accunts rcevable rto%(Bad debt incudng prvision for	-	0.06%				0 06%
	doubtul debts/Averge tradereceivabes)-Notannualised
4	Debtors tmover(Sale ofpruc/ Averagetade rcivables) - Annualised	66		653		689	676		7.12		7.10
5	Inventorturover(Sale ofprducs/Avergeinventor) - Annualised	5 1 5		5 1 3		501	5.33		540		5 6
6	Operating marin%(Earings before interest and tx /Total revenue fom	16 35%	13 88%		16.11%		1510%	18 13%		18 11%
	opertions includingoteroperting incme) - Notannualsed
7	Net proft margin%(Proft afer tx /Total revenue from opratons including	10 13%	833%		10 49%		920%	1191%		12.74%
	other oprtingincome) - Notannnualised
8	Debtequit ratio (Tota debt incuding lease liablites/Total equit)	038		0 35		037	038		037		0.35
9	Long terdebtto woringcpital[Non curentborowings+curentmaturtes	2 19		2 32		254	219		2 54		283
	oflongterborowngs+leaseliabilities)/Woringcpital]
10	Total debtsto total assets(Totaldebtincluding leaselabilities/Total assets)	0 23		0 22		0 22	023		022		021
1f	Curentrtio (Total curentassetsITotal curentlabilities)	1 2 9		1 2 5		1 28	1 29		128		123
12	Curentliabiit rto (Totlcurnt liabilites/Total liabilities)	058		0 61		0.55	058		0.55		059

• 5 The Board at its meeting held today has approved second interim dividend for 2024-25 of Rs. 3.60 per fully paid up equity share of Rs 10 each, aggregating Rs. 106.71 crores

• 6 limited Review : The Limited Review, as required under Regulation 33 and Regulation 52(4) of SEBI (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 as amended has been completed by the Statutory Auditors

==> picture [63 x 14] intentionally omitted <==

----- Start of picture text -----

Place : Gurugram
Date : January 29, 2025
----- End of picture text -----

==> picture [89 x 88] intentionally omitted <==

==> picture [93 x 90] intentionally omitted <==

==> picture [146 x 59] intentionally omitted <==

----- Start of picture text -----

For and on behalf of the Board
Chairman and Managing Director
----- End of picture text -----

==> picture [98 x 93] intentionally omitted <==

gar General[Restricted use] Thi mail documnert can be wed by recipients foe is intended purpose only

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

Chartered Accountants

B S R & Co. LLP

Limited Review Report on unaudited consolidated financial results ofSRF Limited for the quarter ended 31 December 2024 and year to date results for the period from I April 2024 to 31 December 2024 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 to August 2021, as amended

To the Board of Directors ofSRF Limited

• I. 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 31 December 2024 and year to date results for the period from I April 2024 to 31 December 2024 ("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.

• 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, as amended. 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) 24 IO "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, 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.

• 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 lndustex Belting (Pty) Limited v

8 S R & C o (a partnership firm with Registration No BA61223) converted into B S R &Co LLP (a Limited Liability Partnership with LLP 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

B S R & Co. LLP

Limited Review Report (Continued)

==> picture [58 x 9] intentionally omitted <==

----- Start of picture text -----

SRF Limited
----- End of picture text -----

Subsidiaries ( continued):

• e. SRF Europe Kft

• f. SRF Holiday Home Limited

• g. SRF Altech Limited

• h. SRF Middle East LLC i. SRF Employees Welfare Trust (controlled trust)

• 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 IO August 2021, as amended, 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 reflects total revenues (before consolidation adjustments) of Rs. 680.00 crores and Rs. 2,039.92 crores, total net profit after tax (before consolidation adjustments) of Rs. 12.05 crores and Rs. 12.94 crores and total comprehensive income (before consolidation adjustments) of Rs. 12.75 crores and Rs. 13.18 crores, for the quarter ended 3 1 December 2024 and for the period from 1 April 2024 to 3 1 December 2024 respectively, as considered in the Statement. This interim financial information has 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.

y

Page 2 of 3

B S R & Co. LLP

Limited Review Report (Continued) SRF Limited

1. The Statement includes the interim financial information of four Subsidiaries which have not been reviewed, whose interim financial information reflects total revenues (before consolidation adjustments) of Rs. 41.53 crores and Rs. 118 . 83 crores, total net (loss)/profit after tax (before consolidation adjustments) of Rs. (1.16) crores and Rs. 7. crores and total comprehensive (loss)/income (before consolidation adjustments) of Rs. (1.16) crores and Rs. 7.44 crores, for the quarter ended 3 1 December 2024 and for the period from I April 2024 to 3 1 December 2024 respectively, as considered in the Statement. According to the information and explanations given to us by the Parent's management, this interim financial information is not material to the Group.

Our conclusion is not modified in respect of this matter.

Gurugram 29 January 2025

For B S R & Co. LLP Chartered Accountants � rl Ashish Bansal Partner

Firm's Registration No.:101248W/W-100022

Membership No.: 077569 UDIN: 25077569BMOVUR6622

Page 3 of 3

SRF LIMITED

SRF LIMITED ✓'� Sm CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

==> picture [182 x 7] intentionally omitted <==

smF ••

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) : ( + 9 1 - 1 1 ) 49482870 Fax : (+91-11) 49482900

E-mail: info@srfcom Website: www,srf.com CIN - L18101DL1970PLC005197

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

					(Rs.inCrores, except per share dat)	(Rs.inCrores, except per share dat)	(Rs.inCrores, except per share dat)	(Rs.inCrores, except per share dat)
				Consolidated
			Quarer Ended		Nine MontsEnded			Year Ended
S.No.	Paricular	31-Dec-24 (1)	30-Sep-24 (2	31-Dec-23 3	31-Dec-24 (4)		31-Dec-23 (5)	31-Mar-24 (6)
		Unaudited	Unaudited	Unaudited	Unaudited		Unaudited	Audited
	Revenue from operations
1	a) Sale of products	3406.69	3334.06	2994.03	1014298		9404.43	12910.35
	b) Other operatngrevenues	84.62	90.24	59.01		236.75	164.35	228.17
	Totl Revenue from operations	3491.31	3424.30	3053.04	10379.73		9568.78	13138.52
2	Otherincome	39.64	33.33	18.75		9823	59.63	B3 02
3	Totl Income	3530.95	3457.63	3071.79	1047.96		9628.41	13221.54
4	Expenses
	a) Cost ofmaterals cnsumed	1868.97	1885.87	1631.18		5579,34	4904.59	6695.60
	b) Purchases of stoc-in-trade	19.56	33.94	39.25		93.63	94.12	118.56
	c) Changes ininventoresoffnishedgoods,work-in-progressand stock intrade	(82.92)	(85.76)	(115.74)		(206.25)	(123.44)	(105 38)
	d) Employee beneftsexpense	26075	253.38	243.83		76632	688.3	935.03
	e)Finance costs	96.25	93.78	67.37		286,57	212.29	3229
	fDepreciation and amorisaton expense	194.26	193.93	168.89		576.35	486.73	67.62
	g)Power and fuel	33109	345.07	319.2	1,01,89		1016.01	134.81
	h) Exchangecurenc fuctuation (gain) / loss	34 22	22,59	18.08		74.05	60 92	76.71
	i)Otherexpenses	440.07	431.1	351.19	1,293.7		1,039 86	1489.08
	Totlexpenses	3162.25	3173.97	2723.47		9481.62	8379.51	11529.32
5	Proft before tx for the period	368.70	283.66	348.32		996.34	1248.90	1692.22
6	Tax expense
	- Taxexpense	99.05	82.24	97.1		273 05	337 92	45977
	- Taxadjustmentrelated to earieryears	(1.43)	-	(252)		(1.3)	(252)	(13.26)
7	Net Profafer tx for the period	271.08	201.42	253.43		724.72	913.50	1335.71
8	OherComprehensiveIncome
	AItemsthatwilnot be reclassifedtoproftor loss
	()(a) Gain/(loss)on remeasurementsofthedefnedbenefobligation	1.98	5.10	320		3.54	(4.25)	(5.92)
	(i)(b)Incometaxonitem (i) (a)above	(0.50)	(1.29)	(0.80)		(0.90)	1.06	1.19
	B Itemsthatwibe reclassifed to profor loss
	(i)(a) Efective porionof gain/(loss)onhedging instrmentsinacsh fowhedge	(118.37)	(36.99)	12 20		(103.95)	72.88	128.7
	(i) (b)Incometaxon item(i) (a) above	29.96	9.31	(3.20)		26 22	(18.47)	(32.19)
	(ii)(a) Costofhedgingresere	(1.37)	(2.05)	(0.74)		(4.33)	(1.87)	(1.77)
	(i)(b)Incometaxon item(ii)(a)above	0.34	0.52	0.18		1.09	0.5	0.3
	(i)Exchange diferences ontrnslaton of foreign operatons	(64.5)	149.52	65.64		92.88	(6.23)	(69.08)
9	TotlOther ComprehensiveIncome/(loss) frtheperiod	(152.41)	124.12	76.48		14.55	43.57	21.13
10	TotalComprehensiveIncome/ (loss)for the period	118.67	325.54	329.91		739.27	957.07	1356.84
11	Paid up equitsharecpital(Rs.1each fuly paid up)	296.2	296.2	296.42		296.2	296.2	296.42
12	Otherequitexcludingrevaluationresere	1182062	11699.87	10B86.3	1182062		10886.43	11181.58
13	Net Worh	12117.04	11996.29	11182.85	12117.04		1118285	11478.00
14	CapitalRedemptonResere	10.8	10.48	10.8		1.8	10.8	10.48
15	Basic andDiluted EPS fortheperod(notannualised)	9.15	6.79	8.55		2445	3082	45.06

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

==> picture [83 x 90] intentionally omitted <==

----- Start of picture text -----

_-
�
-4
#
/
---
----- End of picture text -----

==> picture [77 x 46] intentionally omitted <==

==> picture [82 x 82] intentionally omitted <==

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

==> picture [49 x 25] intentionally omitted <==

----- Start of picture text -----

vO
GmF
----- End of picture text -----

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 -LI 810 IDLl 970PLC005 I 97

STATEMENT OF CONSOLIDATED UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

							(Rs.in Crors)
				Consoldated
			Quarer Ended		Nine Months Ended		Year Ended
	Pariculars	31-Dec-24 (1)	30-Sep-24 (2)	31-Dec-23 (3)	31-Dec-24 (4)	31-Dec-23 (5)	31-Mar24 (6)
		Unaudited	Unaudited	Unaudie	Unaudited	Unaudited	Audited
Segment Revenue
a) Technicl Texiles Business (TTB)		509.79	535.53	458.36	1570.61	1429 16	1898.01
b) Chemicls Business (CB)		1495.65	1357.79	1394.13	4335.	4480.97	629702
c) Packaging Film Business (PFB)		1384.75	1420.59	1090.65	4141.64	3306.97	4489.34
d) Oters		101.14	11281	11357	340.11	359.14	465.30
Totl Segment Revenue		3491.33	3426.72	3056.71	10387.80	9576.24	13149.67
Less:Inter Segment Revenue		0.02	2.42	3.67	8 07	7.46	11.15
Revenue from Operations		3491.31	3424.30	3053.04	10379.73	9568.78	13138.52
Segment Result
(Proft before Interest and Tax	from each Segment)
a)Tehnicl Texles Busness (TTB)		58.91	71.34	68.80	197.95	204.0	274.22
b) Chemicls Business (CB)		363.76	246.14	321.85	916.31	1129 69	1627.38
c) Packaging Film Business (PFB)		90.35	82 81	44.87	259 91	173.3	206.50
d) Others		15.67	17.19	21.21	56.43	7.6	93.02
Total Seament Result		528.69	417.4	456.73	1430.60	1584.98	2201.12
Less/(Add):
i) Finance Costs		96.25	93.78	67.37	286 57	212 29	30229
ii) Oter Unalocble Expnses (net ofincme)		63 74	40 04	41.04	14769	123.79	206.61
Proftbeforetx fr thepero		368.70	283.68	348.32	996.34	124.90	1692.22
Segment Asset
a) Technicl Texies Business	(TTB)	2158.16	2141.18	1955.69	2158.16	1955.69	2030.45
b) Chemicls Business (CB)		11009 87	10748.77	10687.79	11009.87	1068779	10745.87
c) Packaging Film Business (PFB)		663534	672.70	6311.95	6635.34	6311.95	6181.15
d) Others		191.02	204.46	16731	191.02	167.31	178.30
Total segment assets		19994.39	19817.11	19122.74	19994.39	19122.74	19135.77
e) Unalocable		1391.86	1259.45	1096.78	1391.86	1096.78	1346.17
Totl		21386.25	21076.56	20219.52	21386.25	20219.52	2041.94
SegmentLabities
a) Tehnicl Texiles Business	(TTB)	430.88	461.36	502.10	430.88	502.10	525.38
b) Chemicls Business (CB)		1023.50	906.11	926.19	102350	926.19	1042.58
c) Packaging Film Business (PFB)		1262.47	1411.04	147.92	1262.47	1472.92	1392.08
d) Others		33.86	42.32	43.83	33 86	43.83	41.60
Totl segment liabilities		2750.71	2820.83	2945.04	2750.71	2945.04	3001.64
e) Unalocble		6517.48	6258.42	6090.60	6517.8	6090.60	6001.28
Totl		9268.19	9079.25	9035.6	9268.19	9035.64	900292

==> picture [89 x 92] intentionally omitted <==

----- Start of picture text -----

�
-%
/ "
----- End of picture text -----

==> picture [80 x 45] intentionally omitted <==

==> picture [84 x 82] intentionally omitted <==

5RF- General [Restricted use] - This mall, document can be used by recipients for its intended purpose only

==> picture [49 x 28] intentionally omitted <==

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- 1 I 0091 Tel. No (Regd office): (+91-11) 49482870 Fax :(+91-11) 49482900

E-mail: info@srf.com Website: w ,srfcom CIN -LI 810 1DL1970PLC0051 97

NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

• The above results ofSRF 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 January 29, 2025 Fo owing entities are subsidiaries of the Company:

• 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 Industex Belting (Pty) Limited

The 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 w 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 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. 600 crores were outstanding as on December 31, 2024 The Company's commercial paper programme has been rated as CRISIL AI+ by CRISIL and IND Al+ by India Ratings During the quarter ended December 31 , 2024, 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:

		2015:
										(Ratios/ percentage as			applicable)
									Consolidated
						Quarter	Ende			Nine Months		Ended	YearEnde
		S No.	Particulars		31-Dec-24	30Sep24		31-Dec-23		31-Dec-24	31-Dec-23		31-Mar-24
					(	(2)			(3)	(4)		(5	(6)
					Unaudited	Unaudited		Unaudited		Unaudited	Unaudited		Audited
		I	Debt serice coverage ratio{(Earingsbefre depreciation, interest		181		I 75		245	I80		255	27
			adtax - curent Tax)/(Grss Interestadleasepayents+ scheduled
			prncipalrepayment ofongter debts)} - Not anualised
		2	Interest sericecoverageratio {(Eaings befre depreciaton, interest		569		4.81		5.27	5.26		583	6.11
			andtax- curent tax)/ Grsinterestandleasepayents)} -Not
			anualised
		3	Bad debtstoaccounts reivablertio%(Bad debtsincluding		-		0.06%		0.02%	0.05%		004%	0.16%
			prvisionfr doubtuldebts/Average tade receivables) - Not
			annualised
		4	Debtortrover(Saleofprducts/Averagetadereceivables)­		6.77		6.8		6.76	688		7.00	693
			Anualised
		5	Inventortrover(Sale ofprducts/AvergeInventor) - A ualised		5 1 5		520		5.13	5.44		539	5.61
		6	Opertngmagin%(Earingsbefreinterestadta/Total revenue		13.32%	11.02%			13.62%	1236%		15.27%	15.18%
			fom operatons including otheroperatingincome) - Not a ualised
		7	Netprftmagin%(Prftaferta/Totalrevenue fomoperatons		7.76%		5.88%		8.30%	6.98%		9.55%	1.17%
			including other operatng income)-Not aualised
		8	Debtequitrato(Totaldebtincludingleaseliabiltes/Total equit)		0.5		0.4		046	0 45		0.6	0.44
		9	Longterdebt toworkingcapital		7.71		16.8		12.29	7.71		12.29	20.40
			{(on cuent borowings+cuent mattoflong ter borowing+ leaseliabilites)/Workingcapital}
		1	Total debtstoTotalassets		0.25		0.25		026	025		0.26	0.25
			(Totaldebt incudingleaseliabiites/Totalassets)
		11	Curentrto(Totalcuentassets/Totalcurent liabilites)		108		103		105	I08		105	103
		12	CuentliabilitRato (Totalcurent liailites/ Total liablites)		0.61		0.63		0.60	0 61		0.60	0.61
			8 c
			·-3 («a) 5 c ' / '. [	'				;a ..' IM; /'·�-. a;; <,s · ·\ o¥ ' ; " } ! .s° · . c- I
$44	eea	[Restate use]	Tsmat,fur Lbue re+sitede prpsoy

SRF LIMITED SSFF 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 - 1 I 0091

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

E-mail: info@srf.com Website: www.srf.com CIN -LI 81 0IDLI 970PLC005 l 97

NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

• 5 The Board at its meeting held today has approved second interim dividend for 2024-25 of Rs. 3.60 per fully paid up equity share of Rs. IO each aggregating Rs 106.71 crores.

• 6 Limited Review :

• The Limited Review, as required under Regulation 33 and Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBVHO/DDHS/P/CIR/2021 /613 dated August 10, 2021 as amended has been completed by the Statutory Auditors.

==> picture [359 x 81] intentionally omitted <==

----- Start of picture text -----

For and on behalf of the Board
Place : Gurugram Ashish Bharat Ram
Date : January 29, 2025 Chairman and Managing Director
----- End of picture text -----

==> picture [87 x 33] intentionally omitted <==

==> picture [90 x 82] intentionally omitted <==

----- Start of picture text -----

' [I ]
'
I
----- End of picture text -----

==> picture [83 x 82] intentionally omitted <==

==> picture [79 x 43] intentionally omitted <==

$4r General [#esuricted uef TN4 mail, docurment can be udb recipients for its itended purpose only