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GFCL's Q4 FY26 chemicals business saw revenue up 11% YoY and EBITDA up 13% YoY, with Fluoropolymers growing 19%. The company projects ₹3,150 Cr FY27 capex, including ₹2,300 Cr for EV and ₹850 Cr for chemicals (refrigerants, specialty fluoropolymers). Fluoropolymers expect 15-20% volume growth from high-value segments like semiconductors and EVs. R-32 refrigerant production started, scaling to 20,000 tons. EV battery materials are progressing, with LiPF6 sales ramping and LFP qualification by Q3 FY27. GFCL is also adding natural graphite anode production. Management is optimistic about sustained growth.