The Gurgaon-based SRF Ltd, a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates, will invest approximately Rs 200 crore in the chemicals business to create production capability to produce new agrochemical with a peak production capacity of 250 MT and carry out modifications in the P 11/12 plant with the objective of improving capacities to meet R 134a production requirements, both at Dahej, Gujarat.
The company will set up a facility to produce agrochemical at its chemical complex in Dahej at an estimated cost of Rs 180 crores. SRF expects to add the proposed capacity in the next 12-18 months.
Meanwhile, SRF reported consolidated gross sales of Rs 5,137 crore for FY17, up by 4.9 percent compared to Rs 4,898 crore in FY16. The company reported a 19.8 percent increase in its consolidated PAT from Rs 430 crore in FY16 to Rs 515 crore in FY17.
Ashish Bharat Ram, managing director, SRF Ltd, said, “In spite of a very challenging environment we have performed well. The benefits of being a diversified entity have come through as seen by the performance of our technical textiles business. While our long term strategy remains intact, we see challenges in the year ahead with agrochemicals remaining weak.”
SRF’s diversified business portfolio covers technical textiles, fluorochemicals, specialty chemicals, packaging films and engineering plastics. The company, which exports to more than 75 countries, has nine manufacturing locations in India, 2 in Thailand and 2 in South Africa.
