### **Overview** SRF Limited, established in 1970, is a leading Indian chemical-based multi-business conglomerate with a global footprint. Headquartered in New Delhi, the company operates across diversified high-growth industrial segments, including **Fluorochemicals, Specialty Chemicals, Performance Films & Foil, Technical Textiles, and Coated & Laminated Fabrics**. With a strong commitment to innovation, sustainability, and quality, SRF has emerged as a market leader in India and a significant global player in several of its core business lines. As of November 2025, SRF continues to execute on its long-term strategic vision—**"Aspirations 2030"**—focusing on technological leadership, vertical integration, global expansion, and ESG-driven growth. --- ### **Global Presence & Operations** - **Manufacturing Footprint**: Operates **16 manufacturing plants** across **India, Thailand, South Africa, and Hungary**, with integrated backward linkages enhancing cost efficiency. - **Global Reach**: Serves customers in **over 100 countries** through a robust global network, including commercial offices in Dubai and subsidiaries in Europe, Africa, and Southeast Asia. - **Workforce**: Employs **over 9,000 people** from diverse nationalities, supporting its global operations and innovation ecosystem. --- ### **Business Segments & Leadership Position** #### **1. Chemicals Business (CB)** Split into **Fluorochemicals** and **Specialty Chemicals**, this segment is the cornerstone of SRF’s innovation and export-led growth. ##### **Fluorochemicals** - **Market Leadership**: - **Domestic leader in HFC refrigerants** (including R134a, R32) with full backward integration. - **Top 5 global manufacturer** of key fluorochemical products. - **Only Indian manufacturer** of **pharmaceutical-grade HFC-134a/P propellant** (marketed as **Dymel®**) for metered-dose inhalers (MDIs), approved in the US, Europe, and India. - **Integrated Facilities**: Primary production at **Dahej (Gujarat)** and **Bhiwadi (Rajasthan)**. - **Innovation in Refrigerants**: - Developed **R-467A**, a low-GWP refrigerant, which became **India's first ASHRAE-certified refrigerant**. - Transitioned product portfolio from CFCs → HCFCs → HFCs → low-GWP solutions, aligning with Kigali Amendment and global environmental standards. - **Capacity Expansion**: - Commissioned **third AHF (Anhydrous Hydrogen Fluoride)** plant at Dahej in Q4 FY25, enabling full-scale production of refrigerant gases. - Planning new **4th-generation refrigerants**, with ₹1,100 crore investment announced in FY25. ##### **Specialty Chemicals (SCB)** - Serves **global agrochemical and pharmaceutical innovators**, offering **custom synthesis** and **contract manufacturing (CDMO)** services. - **Core Expertise**: Halogenation, hydrogenation, nitration, grignard, and organocatalysis. - **Chemicals Technology Group (CTG)** acts as the **hub of innovation**, driving development of **pharma and agrochemical intermediates**. - **CTG Strength**: - 500+ R&D professionals. - 2 advanced R&D centers in **Bhiwadi** and **Gurugram**. - Over **50 molecules in development pipeline**; >50% successfully scaled to commercial production. - **Recent Growth**: - Launched **8 new agrochemical/pharma intermediates** in FY25. - Focused on **fluorine and complex non-fluorinated chemistries**, targeting higher-value markets. --- #### **2. Technical Textiles Business (TTB)** - **India’s largest technical textiles manufacturer**, with strong export presence. - **Global Rankings**: - **5th largest global producer** of tyre cord fabric (TCF). - **2nd largest manufacturer** of conveyor **belting fabrics** worldwide. - **Market Share**: Holds ~40% domestic share in **Nylon-6 Tyre Cord**. - **Operations**: 4 advanced plants in **Madhya Pradesh** and **Tamil Nadu** (Gummidipoondi, Viralimalai, Manali). - **Key Products**: - Tyre Cord Fabrics (N6, N66, Polyester) - Conveyor Belting Fabrics - Polyester Industrial Yarn (PIY) - **Innovation**: End-to-end integration — from **polymerization to fabric dipping** — using **Toray (Japan) technology**. - **Recognition**: **Only Indian producer** of Tyre Cord Fabric to have won the **Deming Prize**. --- #### **3. Performance Films & Foil Business (PFB)** *(Formerly Packaging Films Business, renamed effective April 1, 2025)* - **Core Offerings**: - **BOPET, BOPP, CPP, and Capacitor Grade BOPP Films** - **Aluminum Foil** - **Brands**: *PETLAR™* (BOPET), *OPLAR™* (BOPP) - **Manufacturing**: - **6 PET lines, 4 BOPP lines**, 2 resin plants. - **Aluminum foil plant** in Jetapur, MP, with 20,000 MTPA capacity. - **Innovation & R&D**: - Advanced **R&D Centre in Indore SEZ** with pilot polymerization and customer process simulation. - **NPD Lab** drives co-creation with customers. - **Strategic Expansion**: - Commissioning of **Capacitor Grade BOPP Film line** in India (targeting EVs, energy storage). - Launch of **BOPP-BOPE co-extruded films** for sustainable packaging. - **Market Leadership**: - Among the **world’s largest producers** of BOPET and BOPP films. - One of the **few global players** offering **BOPET, BOPP, and Aluminum Foil under one roof**. --- #### **4. Coated & Laminated Fabrics** - **Pioneer** of **PVC-coated synthetic fabrics** in India. - **Applications**: Hoardings, billboards, defense shelters, architecture, transportation, tarpaulins. - **Manufacturing Hubs**: - **Kashipur (Uttarakhand)**: Laminated fabrics (7.5M sqm/month capacity). - **Gummidipoondi (Tamil Nadu)**: Fully integrated coated fabric unit (yarn → coating → printing). - **Product Features**: UV-stabilized, fire-resistant, weatherproof, high tensile strength. - **Digital Compatibility**: Works with Vutek, Nur, Scitex printers. - **Backward Integration**: - Installed **in-house fabric knitting machines** to reduce import dependence following **minimum import pricing on Chinese knits**. --- ### **Innovation & R&D Excellence** - **Patent Portfolio**: - **501 patent filings** (as of Oct 2025), **153 granted** globally. - CTG alone filed **38 patents in FY25**, with **2 new grants**. - **R&D Investment**: Approximately **₹700 crore** allocated in FY25 for debottlenecking, expansion, and new facilities. - **Key R&D Centers**: - **Chemicals Technology Group (CTG)** – Bhiwadi & Gurugram - **Technical Textiles R&D** – Manali, Chennai (pilot plant for polymerisation, spinning, dipping) - **PFB R&D** – Indore SEZ - **Collaboration Model**: Engages in **co-development** with customers, agrochemical innovators, and research institutions. --- ### **Quality & Recognition** - **Deming Prize**: - Awarded to **Tyre Cord and Chemicals Businesses**, reflecting deep-rooted **Total Quality Management (TQM)** culture. - **Other Accolades**: - **Quality Sustainability Award** (2 years in a row) for Packaging Films from the International Academy for Quality. - **Syngenta Supplier Award 2020** for performance. --- ### **Sustainability & ESG Initiatives** - **Sustainable Product Development**: - Low-GWP refrigerants (e.g., R-467A) - Recycled content in tyre cord fabrics - Monofamily films for easy recyclability - **Energy Efficiency**: - Investment in **solar power, energy monitoring, VFDs, LED lighting, fan/chiller upgrades**. - Renewable energy adoption increasing across facilities. - **Waste Reduction**: - Focus on by-product recovery, process optimization, and carbon footprint reduction. - **3R Strategy (Reduce, Reuse, Recycle)** deployed across Technical Textiles and PFB. --- ### **Financial Performance (Key Highlights)** - **Annual Turnover (FY24)**: ₹14,358 crore (~US$1.7 billion). - **Segment Revenue (FY24)**: - **Chemicals Business**: ₹6,691 crore (6% YoY growth) - **Technical Textiles**: ₹2,029 crore (7% YoY) - **Performance Films & Foil**: Notified as high-impact through VAPs and capacity utilization - **R&D Spend (FY24)**: ₹146.41 crore - **Capital Expenditure (FY24)**: ₹2,347 crore (including 9 new plants at Dahej)