NewsSRF Limited Revises Capital Expenditure to ₹2,285 Crores for Fourth-Generation Refrigerant FacilitiesSRF Limited Revises Capital Expenditure to ₹2,285 Crores for Fourth-Generation Refrigerant Facilities
SRF Limited has revised its capital expenditure from ₹1,100 crores to ₹2,285 crores for fourth-generation refrigerant production facilities at Gopalpur, Odisha, following a change in project scope approved by the Board on May 5, 2026. The expanded project includes 20,000 MTPA HFO plants, a 30,000 MTPA AHF plant with VHF forward integration, and supporting utilities, to be financed through debt and internal accruals with completion targeted by February 28, 2028.
*this image is generated using AI for illustrative purposes only.
SRF Limited has significantly enhanced its capital outlay for the establishment of fourth-generation refrigerant production facilities, revising the approved expenditure from ₹1,100 crores to ₹2,285 crores. The revision follows a change in project scope, as approved by the Board at its meeting held on May 5, 2026. The original capital expenditure of ₹1,100 crores had been sanctioned by the Board at its meeting on October 22, 2024.
Revised Capital Expenditure at a Glance
The key parameters of the revised capital expenditure are summarised below:
| Parameter: | Details |
|---|---|
| Original Capex Approved: | ₹1,100 crores |
| Revised Capex Approved: | ₹2,285 crores |
| Original Approval Date: | October 22, 2024 |
| Revised Approval Date: | May 5, 2026 |
| Project Location: | Gopalpur, Odisha |
| Expected Completion: | February 28, 2028 |
| Financing: | Mix of debt and internal accruals |
Expanded Project Scope
The revised project scope encompasses a broader range of manufacturing capabilities and infrastructure development. The three key components of the expanded project are:
- 20,000 MTPA Hydrofluoroolefins (HFOs) plants for the production of fourth-generation refrigerants
- 30,000 MTPA Anhydrous Hydrogen Fluoride (AHF) plant, along with forward integration into Value-added Hydrogen Fluoride (VHF) products
- Development of necessary utilities and infrastructure to support the above facilities at the proposed site in Gopalpur, Odisha
Strategic Rationale
The enhanced investment is driven by the anticipated demand for HFOs and VHF products. The project is aligned with the Company's strategic objective of strengthening its position in next-generation refrigerants and integrated fluorochemical value chains. The facilities are to be financed through a combination of debt and internal accruals, with completion targeted by February 28, 2028.
Historical Stock Returns for SRF
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.90% | +8.95% | +13.87% | -4.41% | -5.36% | +101.90% |
How will SRF Limited's expanded HFO production capacity position it against global competitors like Honeywell and Chemours in the fourth-generation refrigerant market?
What regulatory tailwinds from the Kigali Amendment phase-down of HFCs could accelerate demand for SRF's HFO products ahead of the 2028 completion timeline?
How might the doubling of capex to ₹2,285 crores impact SRF Limited's debt-to-equity ratio and near-term credit ratings given the debt-and-accruals financing mix?
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
