Chemical
SRF to invest Rs.115 crores on agrochemical intermediates expansion project
Investment is related to a new plant set-up in Dahej
- By ICN Bureau
| May 10, 2022
The Board of Directors of SRF Limited at its meeting held on May 09, 2022 has approved project for dedicated facilities to produce intermediates for Agrochemicals in the new plant structure at Dahej, India at a cost of Rs. 115 crores. The plant is scheduled to be operational in February 2023.
Recently, the company had 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 at an estimated cost of Rs. 61 crore.
In FY22, SRF’s consolidated revenue increased 48% from Rs. 8,400 crore to Rs. 12,434 crore over CPLY. The company’s EBIT increased 55% from Rs. 1,828 crore to Rs. 2,835 crore over CPLY. The company’s PAT increased 58% from Rs. 1,198 crore to Rs. 1,889 crore over CPLY.
Commenting on the results, Chairman & Managing Director, Ashish Bharat Ram said, “We are closing FY22 on a strong note, with significant growth witnessed in our Chemicals Business and our other businesses too. With a strong Capex pipeline and our emphasis on enhancing our capabilities, I remain optimistic of our continued success in the future.”
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