SRF · tone and specificity signals across the available quarters.
Language signals
I think it will take more time to ramp it up. It is not that it is already done. It is a time-consuming process. We are doing a good job in terms of ramping it up. There will be some more time when you see larger commercial sales of these coming through.
Of the total capex of 745 crores, I would say roughly 450 crores is for one of the products which is non-Chemos and the balance is largely the true product for Chemos.
The capacities if we are able to exit fully will remain from an HFC perspective pretty much full. To a certain extent that is correct, the volumes in FY27 for HFC will be limited given the capacities.
We have consciously chosen to protect our market share and volumes. From our discussions with stakeholders, it is evident that Chinese players are finding it difficult to sustain these price levels and we believe that this situation is not viable in the long run. When this correction will happen remains difficult to predict at this stage.
Our fluochemicals business has delivered a record quarter in all counts. The refrigerants segment performed exceptionally well despite this being traditionally lean season, supported by firm global HFC prices driven by China's Kigali-aligned supply restrictions and steady international demand.
The question is not if but when that will happen. So I think this seems to be the sort of the Chinese way where you come in and bombard the market with volume and low pricing but at some stage people also need returns and I think that's something that will change the environment in China going forward.
We believe that the company should be able to deliver growth in the region of 15 to 20% in the coming year.
Our ability to reposition has ensured that we stayed strong in terms of the outcome for Q4.
The pricing of a specialty product over time will always move to a more commoditized level.