SRF Limited Announces ₹600 Crore Battery-Grade Aluminium Foil Plant in Madhya Pradesh

Indian chemicals and advanced materials manufacturer SRF Limited has announced an investment of approximately ₹600 crore to establish a battery-grade aluminium foil manufacturing facility in Madhya Pradesh. The proposed plant will manufacture specialised aluminium foil for lithium-ion and sodium-ion batteries, supporting India’s expanding electric vehicle and energy storage industries.

The project received approval from SRF Limited’s Board of Directors on October 21, 2026, and will be implemented through its wholly owned subsidiary, SRF Altech Limited. The facility will be established at the subsidiary’s existing manufacturing site in Jetapur, Madhya Pradesh, with a planned annual production capacity of approximately 12,000 metric tonnes.

The investment will be undertaken in two phases, each involving an estimated expenditure of ₹300 crore. The first phase is scheduled for completion by September 30, 2028, while the second phase is expected to be completed by September 30, 2030.

₹600 Crore Investment to Expand Indigenous Battery Materials Manufacturing

SRF Limited’s latest investment represents an expansion of its manufacturing portfolio into battery-grade aluminium foil, a specialised material used in advanced rechargeable batteries. The company intends to develop the facility as part of its Performance Films and Foil business, building on its existing expertise in aluminium foil production and advanced industrial materials.

The proposed plant will be located at SRF Altech Limited’s existing industrial site in Jetapur. Developing the facility within an established manufacturing location provides the company with an opportunity to utilise its existing industrial presence while creating dedicated production capabilities for battery applications.

According to SRF’s regulatory disclosure, the ₹600 crore project will be implemented in two phases with an estimated investment of ₹300 crore each. The company plans to finance the expansion through a combination of internal accruals and borrowings, allowing investment to proceed alongside its existing business operations.

New Facility to Produce 12,000 Tonnes of Battery-Grade Aluminium Foil Annually

The proposed manufacturing facility will have a total capacity of approximately 12,000 metric tonnes per annum. Its production will cater to manufacturers of lithium-ion and sodium-ion batteries used in electric mobility and energy storage applications.

Battery-grade aluminium foil is a specialised material used primarily as a current collector in the positive electrodes of many rechargeable battery designs. It provides an electrically conductive substrate for electrode materials while supporting the mechanical integrity of the electrode structure.

Manufacturing aluminium foil for battery applications requires careful control over thickness, surface characteristics, mechanical properties and product consistency. These requirements distinguish battery-grade products from conventional aluminium foil used in packaging and other general industrial applications.

SRF’s proposed investment will establish a dedicated domestic manufacturing capability in this specialised product category. The project is intended to serve the growing requirements of battery manufacturers operating in India’s electric vehicle and energy storage sectors.

Two-Phase Development Scheduled for Completion by 2030

SRF Limited has established a phased implementation schedule for the proposed facility, allowing the company to develop manufacturing infrastructure and expand operations over several years.

The first phase, involving approximately ₹300 crore, is targeted for completion by September 30, 2028. The second phase, also estimated at ₹300 crore, is scheduled for completion by September 30, 2030.

The planned total capacity of approximately 12,000 metric tonnes per annum represents the facility’s intended manufacturing scale following implementation of the project. The company has not presented the investment as an already operational production unit.

The phased development approach will allow SRF to undertake the necessary equipment installation, manufacturing preparations and operational integration while expanding its presence in a specialised industrial materials segment.

Lithium-Ion and Sodium-Ion Batteries Create New Manufacturing Opportunities

The proposed plant will serve two important rechargeable battery technologies: lithium-ion and sodium-ion. Both have applications in energy storage, although their commercial maturity, material requirements and deployment patterns differ.

Lithium-ion batteries are widely used in electric vehicles, consumer electronics and stationary energy storage systems. Their combination of energy density, rechargeable performance and established manufacturing processes has made them an important technology in the global electrification industry.

Sodium-ion batteries are emerging as an alternative for selected applications, particularly where material availability and cost considerations influence battery design. Sodium-based electrochemical systems offer opportunities for battery manufacturers to develop products using different raw material combinations.

Aluminium foil plays an important role in the electrode architecture of both technologies. Its production requires specialised manufacturing expertise, making domestic availability relevant to battery cell manufacturers seeking dependable supplies of electrode components.

By developing production capabilities for both lithium-ion and sodium-ion applications, SRF aims to participate in multiple segments of India’s evolving battery manufacturing industry.

Investment Supports India’s Electric Vehicle and Energy Storage Ecosystem

India’s expanding electric mobility and renewable energy sectors are creating opportunities for manufacturers of battery components and specialised industrial materials. Battery production depends on an extensive supply chain involving electrode materials, current collectors, separators, electrolytes, cell manufacturing equipment and other precision-engineered products.

Domestic production of battery-grade aluminium foil can contribute to the development of this supply chain by providing manufacturers with an additional source of specialised electrode materials within India.

The material is particularly relevant to the production of battery cells, where dimensional consistency and surface quality influence manufacturing performance. Establishing local production capabilities can support closer coordination between material suppliers and battery manufacturers.

SRF’s investment reflects increasing participation by established Indian industrial companies in advanced materials used by emerging energy technologies. Such investments expand the range of components and specialised materials that can be manufactured domestically.

SRF Reports 35% Revenue Growth in Second Quarter of FY 2026–27

The investment announcement accompanied SRF Limited’s financial results for the second quarter of FY 2026–27, during which the company reported strong year-on-year growth across several business segments.

Consolidated revenue increased by 35% to ₹4,904 crore during July–September 2026, compared with ₹3,640 crore in the corresponding quarter of the previous financial year. Operational earnings before interest and tax rose by 26% to ₹816 crore, while profit after tax increased by 31% to ₹509 crore.

The Performance Films and Foil business recorded particularly strong growth, with quarterly revenue increasing by 51% to ₹2,122 crore from ₹1,408 crore a year earlier. Operating profit from the segment rose by 73% to ₹206 crore, supported by the performance of the company’s films and foil operations.

SRF also reported healthy demand for aluminium foil during the quarter, reinforcing its decision to expand into specialised battery-grade products.

Chemicals and Technical Textiles Businesses Maintain Growth

SRF Limited’s Chemicals business reported a 25% increase in quarterly revenue to ₹2,079 crore, compared with ₹1,667 crore in the corresponding period of FY 2025–26. Operating profit increased by 10% to ₹528 crore, reflecting positive performance across its chemical manufacturing activities.

The Technical Textiles business also recorded improved results, with revenue rising by 25% to ₹595 crore. Operating profit increased by 71% to ₹72 crore, supported by demand and improved operating margins.

For the first half of FY 2026–27, SRF’s consolidated revenue increased by 33% to ₹9,937 crore, compared with ₹7,459 crore during the corresponding period of the previous year. Profit after tax rose by 55% to ₹1,268 crore.

Chairman and Managing Director Ashish Bharat Ram attributed the company’s performance to the resilience of its businesses despite uncertainty in the global operating environment. He also highlighted capital expenditure in emerging industrial sectors as an important component of SRF’s long-term growth strategy.

Indigenous Battery Materials Manufacturing Gains Momentum

The proposed aluminium foil facility represents an important addition to SRF Limited’s advanced materials manufacturing plans. By investing in a dedicated plant for lithium-ion and sodium-ion battery applications, the company is expanding its participation in industrial supply chains associated with electric mobility and energy storage.

The ₹600 crore investment will establish specialised production capabilities at Jetapur, with phased implementation extending through September 2030. The planned capacity of 12,000 metric tonnes annually provides a defined manufacturing objective for the new facility.

The development also reflects the increasing role of Indian materials manufacturers in supplying products required by emerging energy technologies. Battery-grade aluminium foil forms an important part of the electrode manufacturing process, making its domestic production relevant to India’s growing battery industry.

With its established expertise in industrial materials and an expanding Performance Films and Foil business, SRF Limited is positioning itself to participate in India’s next generation of battery manufacturing. The proposed facility will contribute to the development of domestic capabilities in specialised materials while supporting the country’s broader industrial and clean-energy ambitions.

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References

1. SRF Limited — Official Press Release, October 21, 2026. SRF Limited Reports Strong Growth in Q2 & H1 FY27. The announcement confirms the ₹600 crore investment, proposed manufacturing capacity, battery applications, implementation schedule and quarterly financial performance.https://www.srf.com/news/srf-limited-reports-strong-growth-in-q2-h1-fy27
2. SRF Limited — Corporate Disclosure to BSE and NSE, October 21, 2026. Capital Expenditure Proposal Approved by the Board. The regulatory filing details the proposed facility at Jetapur, Madhya Pradesh, through SRF Altech Limited.https://www.srf.com/investor-relations/share-information/stock-exchange-fillings
3. National Stock Exchange of India — SRF Limited Corporate Announcements, October 21, 2026. Capacity-addition disclosure and financial results for the quarter ended September 30, 2026.https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=SRF

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