SRF Limited

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SRF Limited
TypePublic
BSE: 503806
NSE: SRF
Founded1970 (1970)
Headquarters
Gurgaon, Haryana
,
India
Key people
Arun Bharat Ram (Chairman)

Ashish Bharat Ram (Managing Director)

Kartik Bharat Ram (Deputy Managing Director)
ProductsChemicals
Packaging films
Technical textiles
Revenue₹8,400 crore (US$1.1 billion) (FY21)
ParentKama Holdings Ltd.
Websitewww.srf.com

SRF Limited is a multi-business chemicals conglomerate engaged in the manufacturing of industrial and specialty intermediates. The company’s business portfolio covers fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics.[1] It has a workforce of close to 7,000 employees working across eleven manufacturing plants in India and one each in Thailand, South Africa and Hungary. The company exports to more than 75 countries.[2]

History[]

The company was established in 1970, as Shri Ram Fibres Limited, by DCM Limited as a wholly owned subsidiary. Its initial focus was on the manufacture of tyre cord fabrics. Its first manufacturing plant was set up in Manali, near Chennai, in 1973.[3]

In 1986, the company set up a joint venture with Denso, SRF Nippondenso, for the manufacture of automotive components. This was later spun off as a separate company in 1993. Another subsidiary, SRF Finance, started in 1986 was sold to GE Capital in 1997. SRF also had a health-care division which manufactured plastic optical lenses, which was spun off as a separate company in 1997.[4]

In 1989, the company entered the Chemicals Business to manufacture refrigerants. Consequently, in 1990, it changed its name to SRF Limited.[5]

The company started its Packaging Films Business in 1995 when it acquired a BOPET film plant at Kashipur in India from M/s Flowmore. SRF has since then grown beyond the national boundaries and become one of the leading manufacturers of both BOPET and BOPP films globally.[6]

With deep knowledge of Fluorine since the early 1980s, the company entered the Specialty Chemicals Business in 2004 as a supplier of fine chemicals to the agrochemicals and pharmaceuticals industry. The business has a rich experience of close to three decades in Custom Synthesis, Contract Research and Manufacturing.[7]

SRF Limited was listed in the 2011 Asia's Best under a Billion list by Forbes magazine.[8][9]

Business Segments[]

Technical Textiles Business[]

SRF is the largest manufacturer of technical textiles in India. SRF’s product basket for technical textiles contains tyre cord fabrics, belting fabrics, and industrial yarn.[10]

Fluorochemicals Business[]

Set up in the year 1989, SRF’s Fluorochemicals Business drives its work through the sale of refrigerants, pharma propellants, and industrial chemicals.[11] The company has allocated capital to enter the Fluoro polymers business.[7][12]

Specialty Chemicals Business[]

SRF's Specialty Chemicals Business is involved in the development and production of advanced intermediates for Agrochemical and Pharmaceutical applications.[13]

Packaging Films Business[]

SRF's Packaging Films Business manufactures BOPET and BOPP films for use in industries as diverse as food and non-food packaging, labelling, industrial and various other end applications.[14]

Market Leadership[]

The company is a market leader in most of its business segments in India and commands a significant global presence in some of its businesses/products, namely Difluoro & Trifluoro Alkyl Intermediates (global no. 1), Nylon 6 Tyre Cord (global no. 2) and Belting Fabrics (global no. 3).[15][16] SRF is the only Indian manufacturer of ozone friendly refrigerants, namely F 134a and F 32, both of which it has developed using indigenous technology.[17] With the addition of F 125, SRF is now the largest producer and seller of refrigerants in India and has further consolidated its market leadership.[18] SRF obtained ASHRAE (American Society of Heating, Refrigeration, Air-conditioning Engineers) certification for R-467A, its low GWP refrigerant blend for stationary air-conditioning applications.[19] It is the first-ever refrigerant from India to have received this certification by the ASHRAE Standards Committee under the Designation and Safety Classification of Refrigerants.[20] SRF acquired the Dymel® HFA 134a/P regulated medical pharmaceutical propellant business from DuPont™ in January 2015 and became one of the few manufacturers of Pharma grade HFA 134a/P in the world.[21][22][23] SRF is also the only Indian manufacturer of Polyester Tyre Cord Fabrics, which is a part of its Technical Textiles Business product portfolio.

Collaborations[]

  • The IndiGo – GetSmart digital mobile bus [24]
  • HP World on Wheels (WoW) [25]
  • Sunrise Sports & PNB Housing Sports for Development Program
  • Capgemini School Adoption Project [26]

Awards[]

  • Deming Prize for the Tyre Cord Business in 2004 [27]
  • Deming Prize for Chemicals Business in 2012 [28]
  • ICC (Indian Chemical Council) Lifetime Achievement Award to Chairman, Mr. Arun Bharat Ram [29]
  • Sword of Honour by the British Safety Council in 2018 [30]
  • The Economic Times Family Business of the Year (Large Companies) Award in 2019 [31]
  • National CSR Award 2018 in the category – Corporate Awards in CSR in Challenging Circumstances – North by His Excellency, the President of India, Shri Ram Nath Kovind [32]
  • EY Entrepreneur of the Year 2019 in the manufacturing category conferred on Chairman, Mr. Arun Bharat Ram [33]
  • Mr. Ashish Bharat Ram, Managing Director of SRF Ltd. was named India’s Best CEO in the emerging companies category by Business Today in January, 2021 [15]
  • 9th India CSR Award for Best STEM Education Project – Through Partnership (Large Impact)

References[]

  1. ^ "Global Operations". SRF Limited. Retrieved 31 August 2011.
  2. ^ Market, Capital (5 August 2020). "SRF gains on commissioning new BOPET film line in Hungary". Business Standard India. Retrieved 9 February 2021.
  3. ^ "History". SRF Limited. Retrieved 31 August 2011.
  4. ^ "Milestones". SRF Limited. Retrieved 31 August 2011.
  5. ^ Upadhyaya, Yash (11 January 2021). "Investments in chemical biz, recovery in refrigerants to boost SRF earnings". Business Standard India. Retrieved 11 May 2021.
  6. ^ Ram, R. Sree (11 August 2020). "Steady chemicals and packaging films biz save SRF from covid hit". mint. Retrieved 11 May 2021.
  7. ^ a b "How SRF Is Transforming Itself Into A Speciality Chemicals Player With Global Ambitions". Forbes India. Retrieved 11 May 2021.
  8. ^ [A://www.forbes.com/lists/2011/24/best-under-a-billion-11_rank.html "Asia's Best under a Billion"]. Forbes. 30 August 2011. Retrieved 31 August 2011.
  9. ^ "SRF - We always find a better way | Investors". www.srf.com. Retrieved 12 February 2021.
  10. ^ "SRF, India's leading manufacturer of technical textiles - The Textile Magazine". Retrieved 11 May 2021.
  11. ^ "Chemicals firm SRF board approves setting up of Rs 315 crore chloromethane plant". The Economic Times. Retrieved 11 May 2021.
  12. ^ "SRF Q1: Growth Engine Of Chemicals Broadly Intact Despite Macro Challenges; Accumulate". Moneycontrol. Retrieved 11 May 2021.
  13. ^ Ram, R. Sree (7 August 2019). "For SRF, the chemicals business is keeping growth momentum steady". mint. Retrieved 11 May 2021.
  14. ^ Market, Capital (5 August 2020). "SRF gains on commissioning new BOPET film line in Hungary". Business Standard India. Retrieved 11 May 2021.
  15. ^ a b "Coach and Captain- Business News". www.businesstoday.in. Retrieved 29 April 2021.
  16. ^ "How SRF Is Transforming Itself Into A Speciality Chemicals Player With Global Ambitions". Forbes India. Retrieved 29 April 2021.
  17. ^ Ram, R. Sree (24 June 2019). "SRF: Robust growth in specialty chemicals biz yields good crop for now". mint. Retrieved 29 April 2021.
  18. ^ Kumar, Arun. "SRF acquires hydrofluorocarbon refrigerant from Mexichem for $10 million". The Economic Times. Retrieved 7 May 2021.
  19. ^ Market, Capital (6 September 2019). "SRF received ASHRAE certification for its new low GWP refrigerant blend R-467A". Business Standard India. Retrieved 11 May 2021.
  20. ^ "SRF becomes first Indian refrigerant with ASHRAE certification". @businessline. Retrieved 11 May 2021.
  21. ^ "SRF aims to double industrial chemicals manufacturing capacity". @businessline. Retrieved 29 April 2021.
  22. ^ "SRF becomes first Indian refrigerant with ASHRAE certification". @businessline. Retrieved 29 April 2021.
  23. ^ "SRF acquires DuPont's medical propellant business for $20 million". @businessline. Retrieved 29 April 2021.
  24. ^ "CSR : IndiGo brings school adoption programme to Vadodara; adopts 15 Govt. schools". India CSR Network. 7 December 2018. Retrieved 11 May 2021.
  25. ^ "'World on Wheels' to provide basic computer training for students". The Hindu. Special Correspondent. 8 February 2021. ISSN 0971-751X. Retrieved 11 May 2021.CS1 maint: others (link)
  26. ^ "Capgemini adopts 10 government schools". The Hindu. 19 May 2017. ISSN 0971-751X. Retrieved 11 May 2021.
  27. ^ Bureau, Our Corporate (8 October 2004). "SRF tyre cord business bags Deming Prize". Business Standard India. Retrieved 2 March 2021.
  28. ^ "SRF's chemical business gets Quality Management Award". The Economic Times. Retrieved 2 March 2021.
  29. ^ "Welcome to Indian Chemical Council (ICC)". www.indianchemicalcouncil.com. Retrieved 2 March 2021.
  30. ^ ANI (15 November 2019). "Indian Firms win maximum number of safety 'Oscars' this year". Business Standard India. Retrieved 2 March 2021.
  31. ^ "India's most respected business tycoons turn up for The Economic Times Family Business Awards". The Economic Times. Retrieved 2 March 2021.
  32. ^ "CSR is a true manifestation of Bapu's Trusteeship Philosophy: President of India". pib.gov.in. Retrieved 2 March 2021.
  33. ^ Dey, Sudipto (19 February 2020). "Kiran Mazumdar-Shaw wins EY Entrepreneur of the Year award for 2019". Business Standard India. Retrieved 2 March 2021.
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