Shares of Stallion India Fluorochemicals Ltd. (SIFL) surged on Tuesday after the company signed a Memorandum of Understanding (MoU) with the Rajasthan Government to set up an innovative R-32 refrigerant gas manufacturing plant in Bhilwara district.

The stock jumped as much as 11.17% intraday to Rs. 127.35, before trading 7.25% higher at Rs. 122.85 on the BSE and Rs. 124.10 on the NSE Sensex today, August 12. The broader Sensex was largely flat.

According to the exchange filing, the upcoming facility will not only produce R-32, a next-gen, environment-friendly refrigerant gas, but will also manufacture a suite of advanced refrigerants, including R-410A, R-404A, and R-454B. The ₹120 crore investment is expected to generate around 30 direct jobs, with operations targeted to begin in 2026. Land acquisition is already underway.

The project will receive infrastructure and regulatory support from the Rajasthan State Industrial Development and Investment Corporation (RIICO) to help fast-track execution.

Shazad Sheriar Rustomji, MD & CEO of Stallion India Fluorochemicals Limited, stressed, “This project marks a significant milestone in our capacity expansion strategy and underscores our commitment to serving the growing demand for environment-friendly and energy-efficient refrigerants in India. The Bhilwara facility will strengthen our domestic manufacturing footprint, reduce import dependency, and position us to cater to both domestic and export markets.” He also extended his sincere gratitude to the Rajasthan government for their support in bringing this vision to life.

SIFL, which specializes in refrigerant and industrial gases, posted a 23% rise in net profit to ₹10.36 crore and a 51% jump in revenue to ₹110.47 crore in Q1 FY26, compared to the same quarter last year.

With existing facilities in Maharashtra, Haryana, and Rajasthan, SIFL’s new Bhilwara plant aims to help reduce the country’s dependency on refrigerant imports and position the company to serve both domestic and international markets.