Gujarat Fluorochemicals Q2 FY27: Revenue Up 45% to ₹1,760 Crore; Fluorochemicals Up 135% on R32 Demand
Gujarat Fluorochemicals Ltd (GFCL) reported its results for the quarter ended 30 September 2026 (Q2 FY27).
Q2 FY27, consolidated: • Revenue: ₹1,760 crore, up 45.5% from ₹1,210 crore a year earlier. • EBITDA: ₹473 crore, up 32.1%; EBITDA margin 26.9%, against 29.6%. • Net profit: ₹240 crore.
By business: • Fluorochemicals: ₹607 crore, up 135%, on volumes and demand for R32 refrigerant gas. • Fluoropolymers: ₹931 crore, up 22% — above the company's guidance of 17–20% a year. • Battery materials: an EBITDA loss of ₹32 crore while LiPF6 salts and electrolytes go through customer qualification. Management linked the lower margin to product mix and this early-stage business.
The board approved an investment of up to ₹600 crore in its subsidiary GFCL EV Products Ltd to fund future capacity.
What it means for buyers and suppliers
Strong R32 sales match what Navin Fluorine and SRF reported this quarter: refrigerant demand is the strongest part of India's fluorine chain. Fluoropolymer (PTFE, FKM, PVDF) growth above guidance suggests steady supply but little room for price cuts.
Source: Indian Chemical News (5 November 2026), reporting the company's Q2 FY27 results. Photo: space-filling model of a PTFE (polytetrafluoroethylene) chain, the company's largest fluoropolymer. Public domain, via Wikimedia Commons.