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SRF Limited

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SRF Limited
Company 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$1.0 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 Flow more. 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 and textile oriented 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 Fluoro chemicals 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 12 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.{{cite news}}: 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. {{cite news}}: |last= has generic name (help)
  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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