Mumbai, 17th August 2026 - Stallion India Fluorochemicals Limited (SIFL), a leading forward integrated player in refrigeration and industrial gas operates as a critical link in the industrial gas supply chain, focusing on processing, blending, and distributing specialized gases across multiple sectors, has announced its unaudited financial results for the Q1 FY26-27.

Strategic Importance: Profitability Growth Outpacing Revenue

  • Total revenue up 12.78% YoY to ₹124.68 Cr (Q1 FY26: ₹110.55 Cr)
  • EBITDA up 75.85% YoY to ₹25.27 Cr
  • PAT up 79.15% YoY to ₹18.57 Cr; basic EPS at ₹1.60 versus ₹1.15 a year ago 

The extent to which profitability growth outpaced revenue growth during the quarter reflects improving operational efficiency and scale benefits rather than one-off factors. Total expenses rose only marginally relative to income, with cost of materials consumed declining as a share of revenue compared to the year-ago period, indicating a business mix shift toward higher-value gas processing. This is reinforced by the completion of preparations for high-purity helium processing at the Company's Khalapur facility, which carries an installed capacity of 1,200 MT per annum, with commercial operations expected to commence in the upcoming quarter. The Company's net worth stood at ₹699.18 crore as of 30th June 2026, up from ₹310.27 crore a year earlier, reflecting a strengthening balance sheet alongside continued capacity investment.

The Company continues to maintain a disciplined growth and capital allocation approach, with expansion initiatives at Khalapur, Mambattu and Bhilwara being funded through a combination of net IPO proceeds and internal accruals. Of the ₹144.75 crore in net IPO proceeds raised, ₹102.71 crore had been utilised as of 30th June 2026 toward incremental working capital and capacity expansion, reflecting a measured, execution-linked deployment of capital rather than front-loaded spending.

Industry Opportunity: A Sector Entering Structural Growth

The results arrive as the global and Indian fluorochemicals industries enter a multi-year structural growth phase. The global fluorochemicals market is projected to grow from USD 76.7 billion in 2025 to USD 204.4 billion by 2035, at a 10.3% CAGR, driven by demand from refrigeration, electronics, pharmaceuticals and automotive applications. India's fluorochemicals market, valued at approximately USD 750 million in 2025, is expected to grow at around 10.5% CAGR through 2034, supported by industrial expansion and increasing adoption of low-Global Warming Potential (GWP) refrigerants such as R-32 and hydrofluoroolefins (HFOs).

Adjacent demand segments are expanding at an even faster pace: India's air-conditioning market is projected to grow at 14.98% CAGR, while the semiconductor industry is expected to grow at 11.95% CAGR, both of which are directly relevant to SIFL's refrigerant and specialty gas portfolio. Environmental regulation, sustainability initiatives and government-led manufacturing programmes continue to support the transition toward low-GWP refrigerants, HFOs and specialty gases, creating opportunities across semiconductors, electronics, solar cells, healthcare and other advanced industrial applications. Within this environment, the Company is positioned as a beneficiary of long-term structural industry demand rather than a single project or cyclical uplift.

Company Positioning: Execution Capability Across a Multi-Site Roadmap

Stallion India Fluorochemicals Ltd 's expansion strategy spans three sites, each targeting a distinct segment of the specialty gases value chain. The Khalapur facility addresses high-purity helium, a globally scarce and critical resource used across semiconductor, electronics, healthcare, aerospace and defence applications; the Company has disclosed it is working with the Indian Space Research Organisation (ISRO) on long-term Helium Recovery and Liquefaction solutions for space applications, and has participated in a large ISRO tender for such systems. The upcoming facility at Mambattu, Andhra Pradesh is progressing as planned, with operations expected to commence between November and December 2026, extending the Company's processing footprint to a new geography. Separately, the Company continues to advance its 10,000 MT per annum R-32 manufacturing facility at Bhilwara, Rajasthan, marking a move into backward-integrated manufacturing of a low-GWP refrigerant increasingly favoured under environmental regulation.

This multi-site build-out reflects an integrated platform strategy, extending Stallion India Fluorochemicals Ltd’s positioning beyond conventional gas blending toward backward integration, scarce specialty gases and new-geography capacity, consistent with a scalable, execution-focused organization operating in a sector-focused growth market.

Management Commentary

“We have commenced FY27 with strong operational and financial momentum. During Q1 FY27, total revenue grew 12.78% YoY to ₹124.68 crore, while EBITDA increased 75.85% to ₹25.27 crore and PAT grew 79.15% to ₹18.57 crore, reflecting a meaningful improvement in profitability and improving operational efficiency across the business,” said Mr. Shazad Sheriar Rustomji, Managing Director & CEO, Stallion India Fluorochemicals Limited.

“Our growth strategy remains focused on scaling higher-value products and strengthening backward integration. The Khalapur facility for high-purity helium processing has been completed, with commercial operations expected to commence in the upcoming quarter, while our Mambattu and Bhilwara facilities remain on track for completion by the end of the calendar year. This reflects our continued execution visibility across an expanding, integrated specialty gases platform,” he added.

“We remain confident of delivering 30–35% revenue CAGR over the next three years, with backward integration and higher-value specialty gases expected to improve EBITDA margins by approximately 3–4% over the medium term. Our focus remains on disciplined execution, portfolio diversification and building a stronger, more integrated fluorochemicals and specialty gases platform,” he further stated.

Long-Term Growth Outlook

With helium processing at Khalapur set to go commercial in the current quarter and the Mambattu and Bhilwara facilities progressing toward completion by the end of calendar 2026, the Company's near-term priority is disciplined execution of its capacity roadmap alongside continued diversification into specialty and backward-integrated gas products. Management's guidance of 30–35% revenue CAGR over the next three years, supported by an expected 3–4% EBITDA margin improvement from backward integration and higher-value specialty gases, points toward a growth trajectory underpinned by capacity visibility rather than demand uncertainty, positioning Stallion India Fluorochemicals Ltd to participate across multiple demand pockets within India's expanding fluorochemicals and industrial gases market.

About Stallion India Fluorochemicals Limited

Incorporated in 1992, Stallion India Fluorochemicals Limited is a specialized player in the refrigerants and industrial gases sector, with over three decades of experience in processing, blending and distributing gases across air conditioning, refrigeration, fire-fighting, semiconductor manufacturing, pharmaceuticals, automotive and glass production industries. The Company operates manufacturing facilities at Khalapur, Ghiloth, Manesar and Panvel, with new capacity under development at Mambattu and Bhilwara. SIFL's portfolio spans Hydrocarbons (HC), Hydrofluorocarbons (HFCs) and Hydrofluoroolefins (HFOs), and its differentiated focus on gas blending distinguishes it from competitors that primarily manufacture base molecules, positioning the Company as an integrated, execution-focused platform within India's specialty gases landscape.