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SRF plan to its enhance R&D and modernize technical textile plant

YarnsandFibers News Bureau 2015-02-13 16:00:00 – New Delhi

SRF Ltd a multi-business entity with headquarters in Gurgaon, India plans to enhance its research & development capabilities of its chemical division and upgradation of technical textile plant with an investment to the tune of about Rs 91 crores. This is company’s second major investment announced in less than a year. In August 2014, the Board of Directors of SRF had approved a capex proposal for setting up of a new specialty chemicals plant at its chemical complex at Dahej in Gujarat with a total investment of Rs 113 crore.

The Board of Directors of the company at its meeting held on February 10, 2015 has approved the capital expenditure proposals of Rs 25 crores (approximately) for enhancing the R&D capability of the chemical business at Bhiwadi, Rajasthan and Rs 66 crores (approximately) for modernisation of technical textile plant at Gwalior, MP , said SRF Ltd in a BSE filing.

The operations have performed as per expectations. While some adverse impact of the sharp fall in the commodity prices was felt in the current quarter, a residual impact will be experienced in the next quarter. The company continues its journey on the stated strategic path by making focused investments.

SRF Ltd reported a marginal 1 percent year on year growth in net profit at Rs 72.62 crore for the third quarter ended December 31, 2014 (Q3FY15) – compared to Rs 72.06 crore in Q3 of last fiscal year - due to increased depreciation and interest expenses.

Net sales during the third quarter of 2014-15 increased marginally to Rs 870 crore against Rs 859 crore during Q3FY15 in spite of reduction in commodity prices.

SRF is also into production of refrigerants, engineering plastics and industrial yarns. The company also enjoys a significant presence among the key domestic manufacturers of polyester films and fluoro specialities

SRF with 5500-strong global workforce operations in two more countries, Thailand and South Africa. SRF is the market leaders in most of its businesses in India and also enjoys significant global presence in some of its businesses.

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