The Board of SRF Limited has given an approval for Rs. 676 crore capex for setting up an aluminum foil manufacturing facility, new pharma intermediates plant, and dedicated facility to produce 300 MT per year of a key agrochemical product.   

The board approved a project to set up an aluminum foil manufacturing facility at a new site in Jaitapur, Indore, India at a projected cost of Rs. 425 crore to meet the growing demand for aluminum foil, which is mainly driven by packaging requirement for food products in the domestic and exports market. The mode of financing will be a mix of debt and internal accruals.

The proposed capacity addition of 21,000 MTPA and the project is expected to be completed by September 30, 2023. 

The Board also approved the setting up of a new pharma intermediates plant for undertaking precursor processes for production of pharma products at its chemical complex in Dahej, India at an estimated cost of Rs. 190 crore to further augment its pharma manufacturing capability and become future ready to tap into new and upcoming business opportunities in the pharma vertical. The mode of financing will be a mix of debt and internal accruals.

The Board also approved the setting up of a dedicated facility to produce 300 MT per year of a key agrochemical product at its chemical complex in Dahej, India at an estimated cost of Rs. 61 crore.

On the R&D front, the company has applied for 351 patents as of December 31, 2021, with nineteen patents applied during the quarter. Till date, the company has been granted 106 patents globally.

The company’s diversified business portfolio covers fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics. Anchored by a strong workforce of 7,000 employees from different nationalities working across eleven manufacturing plants in India and one each in Thailand, South Africa and Hungary, the company exports to more than 90 countries.