Every listed Indian specialty chemicals company covered here — Navin Fluorine, Aarti, Acutaas, Aether, Deepak Nitrite, Gujarat Fluorochemicals, PI Industries — against SRF, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| vs | 1SRF | ₹75.2k Cr | 41.0× | 7.4% | 21.6% | 14.1% | 1.6× | 0.4× | -12.9% |
| 2 | ₹49.3k Cr | 87.8× | 5.5% | 25.8% | 9.7% | 1.4× | 0.3× | 15.4% | |
| 3 | ₹43.3k Cr | 65.2× | 41.1% | 32.6% | 21.2% | 1.8× | 0.3× | 79.0% | |
| 4 | ₹36.6k Cr | 27.7× | -15.8% | 25.8% | 15.9% | 0.8× | 0.0× | -34.3% | |
| 5 | ₹26.3k Cr | 73.9× | 33.0% | 35.9% | 32.3% | 1.0× | 0.0× | 120.1% | |
| 6 | ₹22.0k Cr | 40.0× | -4.8% | 12.5% | 11.4% | 1.0× | 0.3× | -10.9% | |
| 7 | ₹21.8k Cr | 99.4× | 38.3% | 31.3% | 11.6% | 0.5× | 0.2× | 118.7% | |
| 8 | ₹18.0k Cr | 42.9× | 14.0% | 14.1% | 6.9% | 2.8× | 0.8× | 27.3% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | SRF | NAVINFLUOR |
|---|---|---|
| What you pay22 Sept 2026 | ||
| Share price | ₹2,538.30 | ₹8,438.00 |
| Market cap | ₹75,235 Cr | ₹43,287 Cr |
| P/E | 41.00× | 65.24× |
| P/B | 5.36× | 10.89× |
| P/S | 4.77× | 13.06× |
| 12-month return | -12.9% | 79.0% |
| SizeFY26 | ||
| Revenue | ₹15,787 Cr | ₹3,314 Cr |
| PAT | ₹1,835 Cr | ₹664 Cr |
| Net worth | ₹14,043 Cr | ₹3,975 Cr |
| Gross block | ₹13,926 Cr | ₹3,324 Cr |
| GrowthFY26 | ||
| Revenue growth | 7.4% | 41.1% |
| Revenue CAGR (3y) | 2.0% | 16.8% |
| PAT CAGR (3y) | -5.3% | 20.9% |
| What it keepsFY26 | ||
| EBITDA margin | 21.6% | 32.6% |
| PAT margin | 11.6% | 20.0% |
| ROCE | 14.1% | 21.2% |
| ROE | 13.1% | 16.7% |
| CFO / PAT (3y) | 1.61× | 1.81× |
| What it owesFY26 | ||
| Net debt | ₹4,472 Cr | ₹1,175 Cr |
| Debt / equity | 0.36× | 0.32× |
| CWIP | ₹1,889 Cr | ₹143 Cr |
| Debtor days | 59 days | 83 days |
| Who owns itFY26 | ||
| Promoter holding | 50.3% | 27.1% |
| Institutional holding | 37.9% | 52.2% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
SRF is four businesses, and one of them earns three-quarters of the profit. Chemicals — refrigerants, industrial chemicals, fluoropolymers and made-to-order intermediates — was ₹7,779 crore of ₹15,787 crore of revenue, 49.3% of the total and 75.2% of segment profit at a 29.1% EBIT margin. Performance films and foil was ₹5,764 crore at 8.8%. Sixteen plants across India, Thailand, South Africa and Hungary, half of turnover earned overseas, and 14.1% on capital employed for the group as a whole.
Navin turns hydrofluoric acid into three different kinds of product, and the split matters more than the total: high-performance products, mainly the refrigerant R32, at ₹540 crore in the June quarter; specialty chemicals, largely intermediates for agrochemical and pharmaceutical innovators, at ₹325 crore; and contract manufacturing for pharma at ₹180 crore. Together ₹1,045 crore, up 44%. Operating margin was 34.2% in the quarter and return on capital nearly doubled to 21.2%. It has been handling fluorine since 1967.
No acquisitions at all, and most of last year's spending has not started earning. It spent about ₹1,820 crore while gross block moved 1.5% — the money went into capital work in progress, which more than doubled to ₹1,889 crore. At a new site in Odisha: a 20,000-tonne plant for fourth-generation refrigerants, a 30,000-tonne anhydrous hydrogen fluoride plant, a specialty fluoropolymers facility, and HFC capacity beyond 65,000 tonnes.
Built, not bought, and expensively. No acquisitions; gross block rose 21% to ₹3,324 crore with ₹1,235 crore of cash going out through investing. The projects are named and dated: a ₹288 crore cGMP4 block for contract manufacturing with phase two initiated in August 2026 for completion by March 2027, HFC capacity equal to 15,000 tonnes of R32 due in the December quarter, Dahej debottlenecking on the same timetable, and a ₹90 crore advanced materials plant.
Two brothers run it, with their father as chairman emeritus, and the stake that controls it sits in a separately listed company above them. Ashish Bharat Ram is chairman and managing director, Kartik Bharat Ram joint managing director, Arun Bharat Ram chairman emeritus. The board is ten with six independents. The group underneath is simple for its size — eight subsidiaries, every one wholly owned — while above it KAMA Holdings is the holding company and the ABR Family Trust the ultimate holding entity.
A fourth-generation industrial family holding about a quarter of the company and running it with hired professionals. Vishad Mafatlal is executive chairman, but Nitin Kulkarni as managing director and Anish Ganatra as chief financial officer were both recruited rather than born into it. The board runs to eleven with six independents, and Price Waterhouse signed FY26 without qualification. Where the trust question bites is small and worth naming: a relative of the chairman joined the payroll in August 2025.
Planned capital spending for FY27 is ₹2,500 crore, with 75% to 80% of it in chemicals.
SRF management · Q1 FY27
A ₹490 crore BOPP expansion has been deferred indefinitely.
SRF management · Q1 FY27
Phase two of the cGMP4 block, ₹125 crore, was initiated in August 2026 for completion by March 2027.
Navin Fluorine management · Q1 FY27
Additional HFC capacity equivalent to 15,000 tonnes of R32 is due in the December 2026 quarter.
Navin Fluorine management · Q1 FY27
Closing prices to 22 Sept 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.