The Corporate Relationship Department, BSE Limited 1st 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-SRF

Scrip Code- 503806

SRF/SEC/BSE/NSE

12.05.2025

Dear Sirs,

Audited Financial Results (Standalone & Consolidated) for the quarter and the year ended 31.03.2025 and outcome of Board Meeting

In continuation of our letter dated 05.05.2025, we wish to inform you that Board of Directors at its meeting held today, inter-alia had approved the Audited Financial Results (Standalone and Consolidated) for the quarterl year ended March 31, 2025.

The Board of Directors had considered and recommended "Nil" final dividend.

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the following:

(i) Statements showing the Audited Financial Results (Standalone and ConSOlidated) for the quarter/year ended March 31, 2025 in the prescribed format.
(ii) Auditors Report on the Audited Financial Results Standalone and Consolidated
(iii) A declaration on Auditors Report with unmodified opinion pursuant to the SEBI circular no. CIR/CFD/CNID/56/2016 dated May 27,2016.

The results are being uploaded on the Company's website at www.srf.com.

The meeting started at 11.00 a.m. and concluded at03 ",00 p.m.

This is for your information and records.

Thanking you,

Yours faithfully, for ~R: lilTED

RAJ~KHANPAL Sr. 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: [email protected] Website: www.srf.com

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

Regd. Office: Unit No. 236 & 237, 2nd Floor DLF Galleria, Mayur Place Noida Link Road Mayur Vihar Phase-1 Extension Delhi 110091

Chartered Accountants

Building No.1 0, 12th Floor, Tower-C DLF Cyber City, Phase - II Gurugram - 122002, India Tel: +91 1247191000 Fax: +91 1242358613

To the Board of Directors of SRF limited

Report on the audit of the Standalone Annual Financial Results

We have audited the accompanying standalone annual financial results of SRF Limited {hereinafter referred to as the "Company"} for the year ended 31 March 2025, attached herewith, being submitted by the Company pursuant to the requirement 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.

In our opinion and to th~ best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:

a. are presented in accordance with the requirements 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 in this regard; and
b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information for the year ended 31 March 2025.

8asis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143{10} of the Companies Act, 2013 {"the Act"}. Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.

Managemeat's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalon,e annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act 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. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and

B 5 R & Co. (a partnership firm with Registration No. BA61223) converted into B 5 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

Independent Auditor's Report (Continued)

SRF limited

completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Company's financial reporting process.

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial resu Its.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone annual financial results made by the Management and Board of Directors.
Conclude on the appropriateness of the Management's and Board of Directors' use ofthe going concern baSis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness ofthis assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Independent Auditor's Report (Continued)

SRF Limited

The standalone annual financial results include the results for the quarter ended 31 March 2025 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to dateJigures up to the third quarter of the current financial year which were subject to limited review by us.

For B S R & Co. LLP

Chartered Accountants

Firm's Registration No.:l01248W/W-100022

~v.

Ashish Bansal Partner Membership No.: 077569 UDIN: 25077569BMOVUU6452

Gurugram

12 May 2025

STANDALONE FINANCIAL RESULTS

FOR THE QUARTER AND YEAR ENDED MARCH 31,2025

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: [email protected] Website: www.srf.com CIN - L 181 01DL 1970PLC005197

STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025

	(Rs in Crores except per share data)
				Standalone
			Quarter Ended			Year Ended
S.No.	Particulars	31-Mar-25	31·Dec·24	31·Mar·24	31·Mar·25	31·Mar·24
		(1)	(2)	(3)	(4)	(5)
		Audited #	Unaudited	Audited #	Audited	Audited

1	Revenue from operations
	a. Sale of products	3402.88	2681.89	2857.61	11377.27	10565.92
	b. Other operating revenues	93.62	79.75	62.02	320.70	220.75
	Total Revenue from operations	3496.50	2761.64	2919.63	11697.97	10786.67
2	Other income	43.57	52.78	32.55	174.97	119.42
3	Total Income	3540.07	2814.42	2952.18	11872.94	10906.09
4	Expenses
	a. Cost of materials consumed	1482.76	1379.73	1357.07	5602.99	5196.28
	b. Purchases of stock-in-trade	29.55	18.48	20.96	95.89	83.61
	c. Changes in inventories of finished goods, work-in-progress and stock in	175.54	(62.92)	23.72	23.27	(114.32)
	trade
	d. Employee benefits expense	230.06	216.72	208.49	869.11	790.33
	e. Finance cost	72.57	76.07	68.00	296.35	235.60
	f. Depreciation and amortisation expense	157.71	158.81	152.68	629.96	555.85
	g. Power and fuel	279.61	277.73	276.85	1127.06	1134.90
	h. Exchange currency fluctuation (gain) 1 loss	47.63 375.26	26.08 348.38	18.50 366.87	113.43 1410.50	78.93 1227.03
	i. Other expenses Total expenses	2850.69	2439.08	2493.14	10168.56	9188.21
5	Profit before tax for the period	689.38	375.34	459.04	1704.38	1717.88
6	Tax expense
	- Tax expense	178.05	96.91	120.00	439.57	444.43
	- Tax adjustment related to earlier years	(1.83)	(1.43)	(98.06)	(3.26)	(100.58)
7	Net Profit after tax for the period	513.16	279.86	437.10	1268.07	1374.03
8	Other Comprehensive Income
	A. Items that will not be reclassified to profit or loss
	(i)(a) Gain 1 (loss) on remeasurement of defined benefit obligation	(3.90)	2.01	(0.48)	(0.28)	(4.59)
	(i)(b) Income tax on item (i) (a) above	0.98	(0.51)	0.13	0.07	1.16
	B. Items that will be reclassified to profit or loss
	(i)(a) Effective portion of gain 1 (loss) on hedging instruments in a cash flow	98.11	(119.07)	54.49	(6.08)	127.90
	hedge
	(i)(b) Income tax on item (i)(a) above	(24.69)	29.96	(13.72)	1.53	(32.19)
	(ii)(a) Cost of hedging reserve	(0.21)	(1.37)	0.10	(4.54)	(1.70)
	(ii)(b) Income tax on item (ii)(a) above	0.05	0.34	(0.02)	1.14	0.43
9	Total Other Comprehensive Income I (loss) for the period	70.34	(88.64)	40.50	(8.16)	91.01
10	Total Comprehensive Income for the period	583.50	191.22	477.60	1259.91	1465.04
11	Paid up equity share capital (Rs.10 each fully paid up)	296.42	296.42	296.42	296.42	296.42
12	Other equity excluding revaluation reserve	11271.21	10792.33	10216.27	11271.21	10216.27
13	Net Worth'	11567.63	11088.75	10512.69	11567.63	10512.69
14	Capital Redemption Reserve	10.48	10.48	10.48	10.48	10.48
	15 Basic and Diluted EPS for the period (not annualised)	17.31	9.44	14.75	42.78	46.35

• Net Worth = Paid up share capital (excluding forfeited shares) + Other equity # Refer note 7

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: [email protected] Website: www.srf.com CIN - L 18101 DL 1 970PLC0051 97

STATEMENT OF STANDALONE SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025

					(Rs in Crores)
	Standalone
		Quarter Ended			Year Ended
Particulars	31·Mar-25	31·Dec·24	31·Mar·24	31-Mar·25	31·Mar·24
	(1)	(2)	(3)	(4)	(5)
	Audited #	Unaudited	Audited #	Audited	Audited
Segment Revenue
a) Technical Textiles Business (TIB)	458.44	509.79	468.85	2029.05	1898.01
b) Chemicals Business (CB)	2331.92	1505.05	1800.42	6649.59	6237.33
c) Perfonmance Films and Foil business (PFB) *	618.71	645.68	547.89	2599.86	2197.18
d) Others	87.43	101.14	106.16	427.54	465.30
Total Segment Revenue	3496.50	2761.66	2923.32	11706.04	10797.82
Less: Inter Segment Revenue		0.02	3.69	8.07	11.15
Revenue from Operations	3496.50	2761.64	2919.63	11697.97	10786.67
Segment Results
(Profit before interest and tax from each Segment)
a) Technical Textiles Business (TIB)	39.96	58.78	69.69	237.51	273.68
b) Chemicals Business (CB)	742.27	363.75	497.97	1659.50	1628.48
c) Performance Films and Foil business (PFB) *	67.75	63.35	17.21	254.85	122.55
d) Others	12.40	15.67	15.56	68.83	93.02
Total Segment Results	862.38	501.55	600.43	2220.69	2117.73
Less/(Add):
i) Finance Cost	72.57	76.07	68.00	296.35	235.60
ii) Other Unallocable Expenses (net of income)	100.43	50.14	73.39	219.96	164.25
Profit before tax for the period	689.38	375.34	459.04	1704.38	1717.88

Segment Assets a) Technical Textiles Business (TIB)	2210.05	2169.27	2041.96	2210.05	2041.96
b) Chemicals Business (CB)	10858.57	10979.61	10689.28	10858.57	10689.28
c) Performance Films and Foil business (PFB) *	2374.07	2392.17	2321.37	2374.07	2321.37
d) Others	217.12	191.02	178.30	217.12	178.30
Total segment assets	15659.81	15732.07	15230.91	15659.81	15230.91
e) Unallocable	2370.61	2414.45	2133.73	2370.61	2133.73
Total	18030.42	18146.52	17364.64	18030.42	17364.64

Segment Liabilities
a) Technical Textiles Business (TIB)	410.91	430.88	525.38	410.91	525.38
b) Chemicals Business (CB)	1109.55	1014.19	1033.67	1109.55	1033.67
c) Performance Films and Foil business (PFB) *	480.95	387.03	622.43	480.95	622.43
d) Others	43.77	33.86	41.60	43.77	41.60
Total segment liabilities	2045.18	1865.96	2223.08	2045.18	2223.08
e) Unallocable	4416.59	5190.79	4627.85	4416.59	4627.85
Total	6461.77	7056.75	6850.93	6461.77	6850.93

* Formerly known as Packaging Films Business (PFB)

Refer note 7

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: [email protected] Website: www.srf.com CIN - L 18101 DL 1970PLC005197

NOTES TO STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025

The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 12, 2025. The audit report of the Statutory Auditors is being filed with BSE Limited and National Stock Exchange of India Limited. For more details on the standalone results, visit the Investors section of our website at www.srf.com and financial results at "Corporates Announcements" section ofwww.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 The listed commercial papers aggregating to Rs. 400 crores were outstanding as on March 31, 2025. The Company's commercial paper programme has been rated as CRISIL A 1 + by CRISIL and IND A 1 + by India Ratings. During the quarter and year ended March 31, 2025, 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 I percentages as applicable)
				Standalone
			Quarter Ended			Year Ended
51. No.	Particulars	31-Mar-25	31-Dec-24	31-Mar-24	31-Mar-25	31-Mar-24
		(1)	(2)	(3)	(4)	(5)
		Audited	Unaudited	Audited	Audited	Audited
	1 Debt service coverage ratio [(Earnings before depreciation, interest and tax - current tax) / (Gross interest and lease payments + scheduled principal repayment of long term debts)]- Not annualised	1.42	2.25	4.17	1.82	3.34
	2 Interest service coverage ratio [(Earnings before depreciation, interest and tax - current tax) I Gross interest and lease payments] - Not annualised	9.90	6.43	8.17	6.89	7.35
	3 Bad debts to accounts receivable ratio % (Bad debts including provision for doubtful debts / Average trade receivables) - Not annualised	0.01%			0.06%
	4 Debtors turnover (Sale of products I Average trade receivables) - Annualised	8.07	6.66	7.65	6.89	7.10
	5 Inventory turnover (Sale of products / Average inventory) - Annualised	6.99	5.15	5.92	6.14	5.64
	6 Operating margin % (Earnings before interest and tax / Total revenue from operations including other operating income) - Not annualised	21.79%	16.35%	18.05%	17.10%	18.11%
	7 Net profit margin % (Profit after tax I Total revenue from operations including other operating income) - Not annnualised	14.68%	10.13%	14.97%	10.84%	12.74%
	8 Debt equity ratio (Total debt including lease liabilities I Total equity)	0.29	0.38	0.35	0.29	0.35
	9 Long term debt to working capital [(Non current borrowings + current maturities of long term borrowings + lease liabilities) / Working capital]	1.44	2.19	2.83	1.44	2.83
	10 Total debts to total assets (Total debt including lease liabilities I Total assets)	0.19	0.23	0.21	0.19	0.21
	11 Current ratio (Total current assets / Total current liabilities)	1.42	1.29	1.23	1.42	1.23
	12 Current liability ratio (Total current liabilities / Total liabilities)	0.56	0.58	0.59	0.56	0.59

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: [email protected] Website: www.srf.com CIN - L 181 01DL 1970PLC005197

NOTES TO STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEARENDED MARCH 31, 2025

5 Standalone audited statement of assets and liabilities as at March 31, 2025

As at Particulars 31-Mar-25 31-Mar-24 Audited Audited ASSETS Non-current assets Property, plant and equipment 10483.00 Right-of-use assets 221.22 Capital work-in-progress 701.91 Other intangible assets 105.09 Financial assets Investments 782.54 Loans 52.06 Others financial assets 137.87 190.48 Other tax assets (net) 202.96 206.85 Other non-current assets 185.73 114.23 12872.38 Current assets Inventories 1804.88 1901.01 Financial assets Investments 704.53 405.58 Trade receivables 1765.14 Cash and cash equivalents 313.85 Bank balances other than above 15.25 8.21 Loans 142.47 Other financial assets 158.63 201.48 Other current assets 253.29 251.83 5158.04 Total assets 18030.42 17364.64 Equity share capital 297.44 297.44 Other equity 11271.21 10216.27 Total equity 11568.65 10513.71 Borrowings 1566.60 1662.06 Lease liabilities 55.01 81.75 Other financial liabilities 18.45 0.80 Provisions 67.63 60.96 Deferred tax liabilities (net) 993.20 880.28 Other non-current liabilities 127.33 122.75 2828.22 2808.60 Borrowings 1686.87 1949.45 Lease liabilities 28.74 27.51 Trade payables (a) Total outstanding dues of micro enterprises and small enterprises 93.24 84.28 (b) Total outstanding dues of creditors other than micro enterprises and small enterprises 1477.01 1483.53 Other financial liabilities 248.01 404.56 Other current liabilities 75.33 73.97 Provisions 7.75 7.27 Current tax liabilities (net) 16.60 11.76 3633.55 4042.33 6461.77 6850.93 ,,' /0. ~ .i 0 "'- / (A './'"' --:: (' '\, 18030.42 17364.64		(Rs in Crores)





		10078.20
		248.59
		744.79
		111.76

		629.77
		50.04



	Total non-current assets	12374.71




		1538.00
		361.77

		322.05


	Total current assets	4989.93


	EQUITY AND LIABILITIES

	Equity




	Liabilities
	Non-current liabilities
	Financial liabilities






	Total non-current liabilities
	Current liabilities
	Financial liabilities









	Total current liabilities
	Total liabilities

	Total equity and liabilities

.. "''''~'"''',','.'''''.,,'',""',',.,''",,'','' ,~ ~::~?J -"""'"

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: [email protected] Website: www.srf.com CIN - L 18101DL 1970PLC005197

NOTES TO STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025

6 Standalone audited cash flow statement for the year ended March 31, 2025

			(Rs in Crores)
			Year Ended
	Particulars	31-Mar-25	31-Mar-24
		Audited	Audited

A	CASH FLOW FROM OPERATING ACTIVITIES
	Profit before tax	1704.38	1717.88
	Adjustments for:
	Finance costs	296.35	235.60
	Interest Income	(67.06)	(44.95)
	Net gain on sale of property, plant and equipment	(1.62)	(4.77)
	Net gain on financial assets measured at fair value through profit and loss	(32.44)	(22.87)
	Credit impaired assets provided / written off / (written back)	1.25	(0.17)
	Amortisation of grant income	(9.54)	(18.77)
	Depreciation and amortisation expense Property, plant and equipment and inventory discarded / provided / (written back)	629.96 8.49	555.85 11.17
	Insurance income against Property, plant and equipment	(33.11)
	Provision / liabilities no longer required written back	(10.70)	(12.54)
	Net exchange currency fluctuation (gain) / loss	104.85	(38.62)
	Employee share based payment expense	8.45	8.54
	Stamp duty on purchase of investments	0.10	0.13

	Adjustments for (increase) / decrease in operating assets ;-
	Trade receivables	(230.49)	(101.30)
	Inventories	94.88	(59.23)
	Loans	(3.58)	(7.60)
	Other assets	82.75	38.74
	Adjustments for increase / (decrease) in operating liabilities ;-
	Trade payables	28.04	(81.84)
	Provisions	7.15	10.11
	Other liabilities	(5.05)	82.17
	Cash generated from operations	2573.06	2267.53

	Income taxes paid (net of refunds)	(308.84)	(364.69)
	Net cash generated from operating activities	2264.22	1902.84

B	CASH FLOW FROM INVESTING ACTIVITIES
	Net (purchase) / sale of current investments	(267.11)	107.34
	Stamp duty on purchase of investments	(0.10)	(0.13)
	Purchase of non-current investments	(152.29)	(555.28)
	Sale of non-current investments		4.11
	Interest received	62.14	47.54
	Bank balances not considered as cash' and cash equivalents	(6.92)	0.07
	Deposit made with Non Banking Financial Company (NBFC)	(50.00)	(25.00)
	Payment for purchase of property, plant and equipment, capital work-in- progress and other intangible assets	(1128.82)	(1865.39)
	Proceeds from disposal of property, plant and equipment	9.26	14.97
	Government grant received	35.59
	Loans given to subsidiary	(125.00)	(365.04)
	Repayment of loans by subsidiaries	309.31	562.77
	Net cash used in investing activities	(1313.94)	(2074.04)

C	CASH FLOW FROM FINANCING ACTIVITIES
	Proceeds from long term borrowings	406.94	814.67
	Repayment of long term borrowings	(931.24)	(369.70)
	Net proceeds from / (repayment of) short term borrowings	83.85	86.47
	Dividends on equity share capital paid	(213.18)	(213.71)
	Payment towards lease liability	(35.09)	(37.11)
	Finance costs paid	(309.48)	(274.90)
	Net cash generated from I (used in) financing activities	(998.20)	5.72

	Net increase I (decrease) in cash and cash equivalents	(47.92)	(165.48)
	Cash and cash equivalents at the beginning of the year
		361.77	527.25
	Cash and cash equivalents at the end of the year	313.85	361.77

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: [email protected] Website: www.srf.com CIN - L 181 01DL 1970PLC005197

NOTES TO STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025

7 The figures of the last quarter ended March 31, 2025 and March 31, 2024 are the balancing figures between the audited figures in respect of full financial year and published year to date figures upto third quarter of the relevant financial year. The figures upto the end of the third quarter had only been reviewed amd not subject to audit.

Place: Gurugram Date: May 12, 2025

~ Ashish Bharat Ram

For and on behalf of the Board

Chairman and Managing Director

Chartered Accountants

Building No.1 0, 12th Floor, Tower-C DLF Cyber City, Phase - II Gurugram - 122 002, India Tel: +91 124719 1000 Fax: +91 1242358613