Shares of SRF, Navin Fluorine were trading in the red on May 14 after Chemplast Sanmar announced foray into R32 refrigerant gas segment.
On May 13, Chemplast Sanmar announced capex of Rs 340 crore for the production of R32 refrigerant gas.
"R-32 has zero ODP (Ozone Depletion Potential). R-32 (Class 2L) has a low burning velocity, minimizing flame spread and reducing fire hazards," said Chemplast Sanmar in an investor presentation.
This development led to drop in share prices of SRF Ltd and Navin Fluorine on May 14. Both companies are major producers of R32, a refrigerant widely used in air conditioning and refrigeration systems.
At 9:50 am, shares of SRF Ltd on BSE were trading 1.75% lower at Rs 2,875 apiece while those of Navin Fluorine were trading 1% lower at Rs 4,285 apiece.
Meanwhile, shares of Chemplast Sanmar were trading 0.75% higher at Rs 403 apiece.
Chemplast Sanmar's Q4 net loss widened to Rs 54 crore as compared to Rs 31 crore a year ago. The speciality chemicals company's revenue from operations rose 10% to Rs 1,151 crore in March quarter.
Meanwhile, SRF Ltd on Monday reported 25% increase in consolidated net profit for the quarter ended March 2025 at Rs 526 crore as against Rs 422 crore in the year-ago period.
Consolidated revenue for the March quarter rose 21% to Rs 4,313 crore from Rs 3,570 crore a year ago, while EBITDA surged 38% to Rs 957 crore from Rs 696 crore in Q4FY24.
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