Gujarat Fluorochemicals Ltd

Special window for pre-2019 physical shares

• GFCL opens second special window for transfer and demat of pre-2019 physical shares.
• Window runs from 5 February 2026 to 4 February 2027.
• Eligible: transfers accompanied by original share certificates and transfer deeds for pre-2019 shares.
• Demat transfers only; one-year lock-in from registration date.
• Disputes between transferor and transferee are not entertained under this window.
• Shares transferred to IEPF are excluded from this window.
• Registrar and Transfer Agent: MUFG Infinity India Private Limited; contact details provided.

Meeting details

• Date and time: 12 August 2026, 17:00 IST.
• Type and mode: group virtual earnings conference call.
• Event/organiser: Q1 FY27 earnings call hosted by 360 ONE Capital Market Private Limited.
• Key company participants: CEO and Deputy Managing Director; CFO; Business Head, Fluoropolymers; Business Head, Battery Materials.
• Purpose: discuss Q1 FY27 financial performance.
• Recording/presentation: conference is being recorded; earnings presentation available on stock exchanges and the company website.

Meeting Details

• Date and time: 12 August 2026, 17:00 IST.
• Type and mode: group conference call, virtual.
• Organizer: Gujarat Fluorochemicals Limited.

Participants

• Key company participant: Company Secretary.

Purpose

• Discuss Q1FY27 financial performance.

Additional Notes

• Audio recording posted on company website; no links provided.

Meeting Details

• Date: 19 August 2026; Event: Motilal Oswal 22nd Annual Global Investor Conference; Type: Group/One-on-one; Mode: Physical; Place: Mumbai.

Participants

• Key company participants: Company representatives.

Purpose

• Participate in investor conference; investor presentation of quarter ended 30 June 2026 to be shared.

Additional Notes

• Investor presentation on financial results for the quarter ended 30 June 2026 will be shared at the conference.

Business overview

• GFCL core business spans fluoropolymers, fluorochemicals, bulk chemicals, and battery materials.
• Largest integrated fluoropolymer producer in India with three facilities and global reach.
• Battery Materials vertical under G Products with Jolva facility for LiPF6, electrolytes, LFP CAM, binders, anodes.
• NGAAM anode facility planned; phase I capacity commissioned and contracted for anchor clients.
• INOXGFL Group is a diversified energy-transition conglomerate spanning renewables, EPC, wind, and solar.

Key operational highlights

• Q1FY27 chemical revenue Rs 1,574 Cr; up 23% YoY.
• Q1FY27 chemical EBITDA Rs 458 Cr; margin 29%.
• Q1FY27 chemical PAT Rs 261 Cr; up 33%.
• Consolidated Q1FY27 revenue Rs 1,588 Cr; EBITDA Rs 428 Cr; PAT Rs 219 Cr.
• ROCE improved 258 bps to 16.63%; ROE up 301 bps to 15.18%; working capital days 149.
• Battery Materials Q1 revenue Rs 14 Cr; EBITDA -30 Cr; PAT -42 Cr.
• R32 and fluoropolymers drove growth; fluorochemicals benefited from R32 sales.
• Phase I capacity commissioned; anchor clients secured for all products.
• R32 capacity expansion underway; refrigerants portfolio expanding toward R134a.

Financial performance

• Consolidated revenue Rs 1,588 Cr; YoY growth 24%.
• Consolidated EBITDA Rs 428 Cr; margin 27%.
• Consolidated PAT Rs 219 Cr; margin 14%.
• Chemical segment: Revenue Rs 1,574 Cr; EBITDA Rs 458 Cr; PAT Rs 261 Cr.
• Chemical EBITDA margin 29%; PAT margin 17%.
• Battery Materials: Revenue Rs 14 Cr; EBITDA -30 Cr; PAT -42 Cr.
• ROCE 16.63%; ROE 15.18%; working capital days 149.

Capital structure & liquidity

• Working capital days reduced by 43 to 149; no debt/equity actions disclosed.

Strategic priorities & outlook

• Battery Materials capex Rs 6,000 Cr by FY28; target 25%+ EBITDA margin and 2x asset turnover.
• Fully integrated Jolva battery complex; LiPF6 salts, electrolytes, CAM, binders, anodes produced.
• Portfolio targets ~70% of LFP cell cost; aim to lead global EV/ESS battery materials.
• EV/ESS growth, localization, and de-risked supply chains underpin strategy.
• R32 capacity expansion underway; refrigerants portfolio to include R134a.

Risks & mitigation

• Fluoropolymers grew 15% YoY despite a challenging environment.
• Fluorochemicals demand remains stable; R32 expansion expected to improve margins.
• Battery Materials ramp-up remains a near-term risk until volumes scale.

Governance & leadership

• CFO: Manoj Agrawal; IR head: Pallavi Bhalla; Company Secretary: Bhavin Desai.

Board actions & governance

• Board approved unaudited standalone and consolidated results for quarter ended 30 June 2026 with limited review.
• Bir Kapoor re-appointed as Deputy Managing Director for 3 years from 3 November 2026, subject to shareholders' approval.
• Niraj Kishore Agnihotri re-appointed as Whole-time Director for 1 year from 11 November 2026, subject to SH approval.
• Jignesh Parmar appointed Additional and Whole-time Director for 1 year from 12 Aug 2026, subject to SH approval.
• Shesh Narayan Pandey resigns as Whole-time Director and Director, effective 12 August 2026.
• Exceptional items due to New Labour Codes: standalone ₹18 cr; consolidated ₹20 cr.
• Ranjitnagar plant insurance: ₹11 cr received; ₹28 cr remaining; final claim amount to be determined.
• New subsidiaries: GFCL Semiconductor and Advanced Materials Limited; GFCL EV New Age Materials SAOC.

Standalone financials (Q1 FY27)

• Revenue from operations ₹1,302 cr; Total income ₹1,309 cr; total expenses ₹1,037 cr.
• Profit before tax ₹272 cr; Tax ₹71 cr; Profit after tax ₹201 cr; EPS ₹18.35.
• QoQ: revenue up ~7.5%; PAT up ~17.5%; YoY PAT up ~8.6%.

Consolidated financials (Q1 FY27)

• Revenue from operations ₹1,588 cr; Total income ₹1,600 cr; external revenue ₹1,588 cr.
• Expenses ₹1,288 cr; EBITDA ₹428 cr; PBT before/after exceptional ₹310 cr; PAT ₹219 cr.
• EPS ₹20.17; Audit: limited review with unmodified report.

Segment performance

• Chemicals revenue ₹1,610 cr; EBITDA ₹458 cr; PAT ₹261 cr.
• EV Products revenue ₹29 cr; EBITDA ₹−30 cr; PAT ₹−42 cr.
• Total segment assets: Chemicals ₹9,236 cr; EV Products ₹3,361 cr; total ₹12,597 cr.
• Total segment liabilities: Chemicals ₹2,980 cr; EV Products ₹1,304 cr; total ₹4,284 cr.

Capex, capacity & investments

• Investments during quarter: ₹290 cr in GFCL EV Products Limited; ₹12 cr in Flurry Wind Energy.
• ₹40 cr in 0.01% redeemable preference shares of Rs. 10 in Flurry Wind Energy.
• ₹0.11 cr in GFCL New Age Materials SAOC.

Balance sheet notes & governance

• Restated equity: Other Equity ₹7,782 cr; NCI ₹46 cr due to derecognition of deferred tax asset at GFCL EV Products.
• Group comprises two reportable segments: Chemicals and EV Products.
• Consolidated results include nine subsidiaries; two associates and one joint venture accounted.

Financial results approved

• Unaudited standalone Q1 2026 results approved; quarter ended 30 June 2026.
• Unaudited consolidated Q1 2026 results approved; quarter ended 30 June 2026.
• Standalone revenue Rs 1,302 crore; Consolidated revenue Rs 1,588 crore.
• Standalone PAT Rs 201 crore; Consolidated PAT Rs 219 crore.
• Standalone EPS Rs 18.35; Consolidated EPS Rs 20.17.
• Audit Committee reviewed; Limited Review reports unmodified by statutory auditors.

Investments and new entities

• Invested Rs 290 crore in GFCL EV Products Limited.
• Invested Rs 12 crore in Flurry Wind Energy; Rs 40 crore in redeemable preference shares.
• Invested Rs 0.11 crore in GFCL New Age Materials SAOC.
• Incorporated GFCL Semiconductor and Advanced Materials Limited.
• Incorporated GFCL EV New Age Materials SAOC.

Regulatory and structural actions

• No Objection Letter received from BSE/NSE for Composite Scheme; regulatory approvals pending.
• Scheme components: demerger of ILFL wind business into IHIL; amalgamation of ILFL into GFCL.

Accounting and regulatory notes

• Labour Code impact recognized as exceptional items: Rs 18 crore (standalone) and Rs 20 crore (consolidated).
• Fire insurance claim: Rs 70 crore recognized; Rs 11 crore received; Rs 28 crore outstanding.
• GFCL EV Products Limited derecognised deferred tax assets; equity restated.
• Independent auditor's limited review reports for standalone and consolidated results unmodified.

Other notable disclosures

• Two reportable segments: Chemicals and EV Products.
• New companies incorporated in quarter: GFCL Semiconductor and Advanced Materials Limited; GFCL EV New Age Materials SAOC.

Meeting Details

• Dates: 16th and 17th July 2026; time not specified.
• Mode: Physical group meeting; Location: GFCL EV Products Limited Battery Chemicals Plant, Jolva, Dahej, Gujarat.
• Organiser: GFCL EV Products Limited.
• Event: Investors/Analysts Plant Visit.

Purpose

• Purpose: Plant visit by analysts/investors.

Scheme overview

• Three-party composite scheme among ILFL (demerger/transferor), IHIL (resulting), and GFCL (transferee).
• BSE and NSE have issued No Objection Letters dated 9 July 2026.
• NOC enables further filing of the scheme with the NCLT within six months.
• ILFL to surrender RBI NBFC registration within fifteen days of the Scheme's Effective Date.
• Demerged undertaking includes mutual fund distribution activities that transfer to IHIL on implementation.
• Board resolutions dated March 25, 2026 authorize the transfer provisions.
• Draft scheme changes allowed only as regulator-mandated; SEBI consent needed for any modifications.
• Observation letters require comprehensive disclosures: valuation, fairness opinions, and pre/post-scheme shareholding.
• No-Objection letters to be published on the company's website within 24 hours.
• NOC validity is six months from issue date; scheme must be submitted to NCLT by then.

Dematerialisation confirmation

• Securities received for dematerialisation were confirmed to depositories and listed on the exchanges.
• Certificates for dematerialisation were mutilated and cancelled after verification; depository name updated as registered owner within timelines.