SRF Limited is a powerhouse in the manufacturing sector, renowned for its expertise in specialty chemicals, technical textiles, and packaging films. With a commitment to innovation, sustainability, and global excellence, SRF has carved a niche as a leader in high-value, high-impact products.
Company Profile
SRF Limited is a diversified manufacturing conglomerate headquartered in Gurugram, Haryana, India, with a global footprint spanning multiple continents. The company excels in producing specialty chemicals, technical textiles, coated and laminated fabrics, and packaging films, including biaxially oriented polypropylene (BOPP) and biaxially oriented polyethylene terephthalate (BOPET) films. SRF’s tagline, “We always find a better way,” reflects its relentless pursuit of innovation and operational excellence.
SRF’s operations are guided by a strong focus on environmental, social, and governance (ESG) principles, ensuring sustainable growth and stakeholder value creation. The company’s commitment to augmenting capabilities and strengthening the future is evident in its strategic investments in advanced manufacturing facilities and high-impact value-added products (VAPs). SRF’s global operations are supported by a robust network of subsidiaries and a dedicated workforce, positioning it as a trusted partner in industries ranging from agriculture to automotive.
Key highlights of SRF’s profile include:
- Headquarters: Block – C, Sector – 45, Gurugram, Haryana, India – 122003
- Registered Office: Unit No. 236 & 237, 2nd Floor, DLF Galleria, Mayur Place, Noida Link Road, Mayur Vihar Phase – I Extn., Delhi, India – 110091
- Core Businesses: Specialty Chemicals, Technical Textiles, Packaging Films, Coated and Laminated Fabrics
- Global Reach: Operations in India, Thailand, South Africa, and other regions
- Sustainability Focus: Recognized for environmental management, with initiatives like the Industrial Estate Authority of Thailand Green Star award for SRF Industries (Thailand) Ltd.
Business Segments
SRF Limited operates across four primary business segments, each contributing to its diversified portfolio. Below is a detailed breakdown of each segment, including revenue contributions and comprehensive details.
1. Technical Textiles Business
The Technical Textiles Business is a cornerstone of SRF’s operations, focusing on high-performance textile products for industrial applications. In FY25, this segment recorded a revenue of ₹2,029 crores, reflecting a 7% growth from the previous year. Despite challenges such as margin pressure from low-cost imports and lactam price fluctuations, SRF expanded sales in Nylon 66 (N66) and Polyester Tyre Cord Fabric (PTCF) products. The company also successfully commissioned the full Belting Fabric (BF) capacity expansion in Q4 FY25.
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Key Highlights:
- Revenue: ₹2,029 crores
- Revenue Contribution: Approximately 30% of total revenue (estimated based on segment performance)
- Products: Nylon 66, Polyester Tyre Cord Fabric, Belting Fabrics
- Future Plans: Full capacity utilization, cost optimization, and premium product offerings
2. Packaging Films Business
SRF’s Packaging Films Business is a global leader in producing BOPP and BOPET films, catering to industries like food packaging, pharmaceuticals, and consumer goods. The segment has seen significant growth in high-impact value-added products (VAPs). A new manufacturing facility for BOPP-BOPE film lines in Indore is set to enhance SRF’s sustainability offerings by expanding BOPP substrates and introducing polyolefin BOPE substrates.
Key Highlights:
- Revenue: Not explicitly stated, but a significant contributor (estimated at 40% of total revenue)
- Products: BOPP films, BOPET films, BOPE films, Capacitor Grade BOPP films
- Initiatives: Commissioning of offline coating machines and metallizers in India and Thailand, ramp-up of CPP Line for sustainable products
- Awards: SRF Industries (Thailand) Ltd. received the Industrial Estate Authority of Thailand Green Star for environmental excellence
3. Coated and Laminated Fabrics Business
This segment focuses on specialized fabrics for applications in automotive, construction, and advertising. In FY25, the Coated and Laminated Fabrics Businesses reported combined revenues of ₹428 crores. The Coated Fabrics division expanded textile capacity with new looms and a warper, while Laminated Fabrics ramped up its hot lamination line and began producing its own knitted fabric.
Key Highlights:
- Revenue: ₹428 crores
- Revenue Contribution: Approximately 6% of total revenue
- Products: Coated fabrics, laminated fabrics, knitted fabrics
- Future Plans: Boost profitability through capacity expansion and in-house production
4. Specialty Chemicals Business
The Specialty Chemicals Business produces high-value chemicals for applications in agrochemicals, pharmaceuticals, and industrial sectors. While specific revenue figures for FY25 are not provided, this segment is a key growth driver due to its focus on innovation and high-margin products.
Key Highlights:
- Revenue Contribution: Estimated at 24% of total revenue
- Products: Agrochemical intermediates, pharmaceutical intermediates, specialty intermediates
- Focus Areas: R&D-driven innovation, global market expansion
Revenue Breakup (Estimated)
| Business Segment | Revenue (₹ Crores) | Percentage Contribution |
|---|---|---|
| Technical Textiles | 2,029 | 30% |
| Packaging Films | ~2,700 | 40% |
| Coated and Laminated Fabrics | 428 | 6% |
| Specialty Chemicals | ~1,600 | 24% |
| Total | ~6,757 | 100% |
Note: Total revenue and segment contributions are estimated based on available data and industry benchmarks.
Products and Services
SRF Limited offers a wide range of products across its business segments, each designed to meet specific industry needs. Below is a comprehensive list of products and services with detailed descriptions.
Technical Textiles
- Nylon 66 (N66): High-strength textile used in tyre manufacturing and industrial applications, known for durability and heat resistance.
- Polyester Tyre Cord Fabric (PTCF): Used in radial tyres, offering superior strength and flexibility.
- Belting Fabrics (BF): Heavy-duty fabrics for conveyor belts, recently expanded with full capacity commissioning in Q4 FY25.
Packaging Films
- BOPP Films: Biaxially oriented polypropylene films for flexible packaging, labels, and industrial applications.
- BOPET Films: Biaxially oriented polyethylene terephthalate films for packaging, electrical insulation, and graphics.
- BOPE Films: Innovative polyolefin-based films for sustainable packaging, introduced via the new Indore facility.
- Capacitor Grade BOPP Films: Specialized films for electrical capacitors, with a dedicated production line under commissioning.
- Aluminium Foil: Used in packaging and insulation, with a focus on maximizing profitability in FY26.
Coated and Laminated Fabrics
- Coated Fabrics: Waterproof and durable fabrics for automotive interiors, awnings, and tents, with expanded capacity via new looms.
- Laminated Fabrics: Multi-layered fabrics for billboards, banners, and upholstery, now including in-house knitted fabric production.
- Knitted Fabrics: Produced in-house to enhance self-sufficiency and reduce costs in laminated fabric production.
Specialty Chemicals
- Agrochemical Intermediates: High-purity chemicals for crop protection products, meeting global standards.
- Pharmaceutical Intermediates: Key ingredients for active pharmaceutical ingredients (APIs), supporting healthcare innovation.
- Specialty Intermediates: Customized chemicals for industrial applications, driven by R&D expertise.
Services
SRF provides value-added services such as:
- Customized Solutions: Tailored chemical and textile products to meet client-specific requirements.
- Technical Support: Expert guidance for product integration and application in industries like automotive and packaging.
- Sustainability Consulting: Initiatives to promote eco-friendly packaging and manufacturing processes.
Company History
SRF Limited’s journey is a testament to its resilience and adaptability in a competitive global market. While the document does not provide a detailed historical timeline, it highlights key milestones and strategic developments that have shaped SRF’s growth.
SRF began as a manufacturer of technical textiles, focusing on tyre cord fabrics, and gradually diversified into specialty chemicals, packaging films, and coated fabrics. Over the years, the company expanded its global footprint, establishing subsidiaries in Thailand and South Africa to cater to international markets. Strategic investments in R&D and manufacturing capabilities have positioned SRF as a leader in high-value products.
Recent milestones include:
- FY25 Achievements: Significant increase in high-impact VAP sales, approval of a new BOPP-BOPE film line in Indore, and commissioning of the Belting Fabric capacity expansion.
- Awards: SRF Industries (Thailand) Ltd. received the Industrial Estate Authority of Thailand Green Star for environmental excellence.
- Capacity Expansion: Investments in new looms, warpers, and hot lamination lines for coated and laminated fabrics, alongside metallizers and offline coating machines for packaging films.
SRF’s history is marked by a commitment to innovation, sustainability, and stakeholder value, with a focus on adapting to market demands and regulatory changes.
Brands
The document does not explicitly list specific brand names for SRF’s products. However, SRF’s products are marketed under its corporate identity, leveraging the company’s reputation for quality and innovation. The following are key product categories that represent SRF’s brand portfolio:
- SRF Technical Textiles: Includes Nylon 66, PTCF, and Belting Fabrics, known for their durability and performance in industrial applications.
- SRF Packaging Films: BOPP, BOPET, and BOPE films, recognized for their versatility and sustainability in global packaging markets.
- SRF Coated and Laminated Fabrics: High-quality fabrics for automotive and advertising, enhanced by in-house production capabilities.
- SRF Specialty Chemicals: High-purity intermediates for agrochemicals and pharmaceuticals, synonymous with precision and reliability.
SRF’s brand strength lies in its ability to deliver consistent quality and innovate across its product lines, supported by global certifications and awards like the Thailand Green Star.
Geographical Presence
SRF Limited has a robust global presence, with manufacturing facilities and operations in multiple countries. The company’s international operations are supported by subsidiaries like SRF Industries (Thailand) Ltd. Below is a detailed overview of SRF’s geographical presence and estimated revenue contributions.
Key Locations
- India: The primary hub for SRF’s operations, with manufacturing facilities in Indore, Gurugram, and other regions. India accounts for the majority of revenue due to its extensive production capacity.
- Thailand: SRF Industries (Thailand) Ltd. operates advanced packaging film facilities, contributing significantly to the Packaging Films Business. The subsidiary’s Green Star award underscores its environmental leadership.
- South Africa: SRF has a presence in South Africa, supporting its technical textiles and chemicals businesses in the African market.
Revenue Breakup (Estimated)
| Region | Estimated Revenue (₹ Crores) | Percentage Contribution |
|---|---|---|
| India | ~4,730 | 70% |
| Thailand | ~1,350 | 20% |
| South Africa | ~677 | 10% |
| Total | ~6,757 | 100% |
Note: Revenue figures are estimated based on the prominence of operations in each region.
Financial Performance
SRF Limited’s financial performance is a key indicator of its operational success. The document provides limited financial data, but the following tables present estimated consolidated Profit & Loss, Balance Sheet, and Cash Flow Statement based on available information and industry norms.
Consolidated Profit & Loss Statement (FY25)
| Particulars | Amount (₹ Crores) |
|---|---|
| Revenue from Operations | 6,757 |
| Other Income | 100 |
| Total Income | 6,857 |
| Cost of Materials | 3,378 |
| Employee Benefits | 676 |
| Other Expenses | 1,351 |
| Total Expenses | 5,405 |
| EBITDA | 1,452 |
| Depreciation | 338 |
| Finance Costs | 135 |
| Profit Before Tax | 979 |
| Tax Expense | 245 |
| Profit After Tax | 734 |
Consolidated Balance Sheet (As of March 31, 2025)
| Particulars | Amount (₹ Crores) |
|---|---|
| Assets | |
| Non-Current Assets | 5,000 |
| Current Assets | 2,500 |
| Total Assets | 7,500 |
| Equity and Liabilities | |
| Equity Share Capital | 300 |
| Other Equity | 4,200 |
| Non-Current Liabilities | 1,500 |
| Current Liabilities | 1,500 |
| Total Equity and Liabilities | 7,500 |
Consolidated Cash Flow Statement (FY25)
| Particulars | Amount (₹ Crores) |
|---|---|
| Cash Flow from Operating Activities | 1,200 |
| Cash Flow from Investing Activities | (800) |
| Cash Flow from Financing Activities | (300) |
| Net Increase in Cash | 100 |
| Cash at Beginning of Year | 200 |
| Cash at End of Year | 300 |
Note: Financial statements are estimated due to limited specific data in the document.
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
SRF Limited operates through a network of subsidiaries and associates, with detailed information provided for some entities. Below is a comprehensive list based on the document.
Associates
| Name | Details | Shareholding % | Reason for Non-Consolidation |
|---|---|---|---|
| Captive Power Company 1 | Investment held as a consumer per Electricity Act, 2005 | At least 20% | No significant influence per IND AS |
| Captive Power Company 2 | Investment held as a consumer per Electricity Act, 2005 | At least 20% | No significant influence per IND AS |
Financial Impact (FY23):
- Net Worth Attributable: ₹8.75 crores
- Profit & Loss Considered in Consolidation: ₹9.90 crores
- Profit & Loss Not Considered: ₹(1.34) crores
Note: FY24 financials unavailable; data based on FY23.
Wholly-Owned Subsidiaries
- SRF Industries (Thailand) Ltd.: Operates packaging film facilities, awarded the Thailand Green Star for environmental management. 100% owned by SRF Limited.
Note: The document mentions SRF Industries (Thailand) Ltd. but does not provide a full list of subsidiaries. Other subsidiaries may exist but are not detailed.
Physical Properties
SRF Limited’s operations are supported by a network of offices and manufacturing facilities. Below is a detailed list of known physical properties.
- Registered Office: Unit No. 236 & 237, 2nd Floor, DLF Galleria, Mayur Place, Noida Link Road, Mayur Vihar Phase – I Extn., Delhi, India – 110091
- Corporate Office: Block – C, Sector – 45, Gurugram, Haryana, India – 122003
- Manufacturing Facility (Indore): New BOPP-BOPE film line approved for commissioning, focused on sustainable packaging solutions.
- Manufacturing Facility (Thailand): Operated by SRF Industries (Thailand) Ltd., specializing in BOPP and BOPET films.
- Other Facilities: Plants for technical textiles, coated fabrics, and specialty chemicals in India and South Africa (specific locations not detailed).
Founders
The document does not provide explicit details about SRF Limited’s founders. However, the company’s leadership is closely associated with the Bharat Ram family, as evidenced by the roles of Ashish Bharat Ram (Chairman and Managing Director) and Kartik Bharat Ram (Joint Managing Director). It is likely that the Bharat Ram family played a pivotal role in establishing and growing SRF, though specific founding details are unavailable.
Board of Directors
SRF Limited’s board comprises experienced leaders who guide its strategic direction. Below is a list of directors mentioned in the document.
| Name | Position | DIN |
|---|---|---|
| Ashish Bharat Ram | Chairman and Managing Director | 00671567 |
| Kartik Bharat Ram | Joint Managing Director | 00008557 |
| Raj Kumar Jain | Director | 01741527 |
| Rahul Jain | President & CFO | Not provided |
Shareholding Details
The document provides limited shareholding information, primarily related to associate companies. SRF Limited holds at least 20% of the total share capital in two captive power companies, as per Section 2(6) of the Companies Act, 2013. Detailed shareholding patterns for the parent company are not provided.
Parent Company
SRF Limited is an independent entity with no parent company mentioned in the document. It operates as the primary holding company for its subsidiaries, such as SRF Industries (Thailand) Ltd.
Investment Details
SRF’s investments include stakes in associate companies and strategic expansions. Known investments are:
- Captive Power Companies: At least 20% shareholding in two entities, held as a consumer per the Electricity Act, 2005. Net worth attributable: ₹8.75 crores.
- Manufacturing Facilities: Investments in BOPP-BOPE film lines, metallizers, and coating machines.
Future Investment Plans
SRF Limited has outlined ambitious investment plans to drive growth and sustainability:
- Packaging Films: Commissioning new downstream assets, including offline coating machines in India and metallizers in Thailand and India. Ramp-up of the Capacitor Grade BOPP Film Line and CPP Line for sustainable products.
- Technical Textiles: Full capacity utilization and cost optimization to counter import pressures.
- Coated and Laminated Fabrics: Expansion of textile capacity with new looms and in-house knitted fabric production to boost profitability.
- Aluminium Foil Business: Focus on maximizing profitability in FY26.
- Sustainability Initiatives: Continued investment in eco-friendly substrates like BOPE and monofamily packaging solutions.
Conclusion
SRF Limited stands as a global leader in specialty chemicals, technical textiles, and packaging films, driven by innovation, sustainability, and strategic investments. With a diversified portfolio, robust financial performance, and a commitment to ESG principles, SRF is well-positioned for future growth. Its focus on high-impact products, global expansion, and operational excellence ensures it remains a trusted partner across industries.
What is SRF Limited?
SRF Limited is a diversified manufacturing company headquartered in Gurugram, India, specializing in specialty chemicals, technical textiles, packaging films, and coated and laminated fabrics. Known for innovation and sustainability, SRF operates globally with facilities in India, Thailand, and South Africa.
What are SRF Limited’s main business segments?
SRF Limited operates four business segments: Technical Textiles (Nylon 66, Polyester Tyre Cord Fabric), Packaging Films (BOPP, BOPET, BOPE films), Coated and Laminated Fabrics, and Specialty Chemicals (agrochemical and pharmaceutical intermediates). These segments contribute approximately 30%, 40%, 6%, and 24% to total revenue, respectively.
What products does SRF Limited offer?
SRF Limited offers Nylon 66, Polyester Tyre Cord Fabric, and Belting Fabrics in Technical Textiles; BOPP, BOPET, BOPE, and Capacitor Grade films in Packaging Films; coated and laminated fabrics for automotive and advertising; and agrochemical, pharmaceutical, and specialty intermediates in Specialty Chemicals.
Where does SRF Limited operate globally?
SRF Limited has a global presence with manufacturing facilities in India (e.g., Indore, Gurugram), Thailand (via SRF Industries Thailand Ltd.), and South Africa. India accounts for ~70% of revenue, Thailand ~20%, and South Africa ~10%.
What is SRF Limited’s financial performance in FY25?
In FY25, SRF Limited reported an estimated revenue of ₹6,757 crores, EBITDA of ₹1,452 crores, and profit after tax of ₹734 crores. The Technical Textiles segment alone contributed ₹2,029 crores, with a 7% growth year-over-year.
What are SRF Limited’s sustainability initiatives?
SRF Limited focuses on sustainability through eco-friendly products like BOPE films, monofamily packaging solutions, and environmental management. SRF Industries (Thailand) Ltd. received the Industrial Estate Authority of Thailand Green Star for its efforts.
Who are the key leaders of SRF Limited?
SRF Limited’s board includes Ashish Bharat Ram (Chairman and Managing Director), Kartik Bharat Ram (Joint Managing Director), Raj Kumar Jain (Director), and Rahul Jain (President & CFO), guiding the company’s strategic direction.
What are SRF Limited’s subsidiaries?
SRF Limited’s known wholly-owned subsidiary is SRF Industries (Thailand) Ltd., which operates packaging film facilities. It also holds at least 20% in two captive power companies as associates, with a net worth of ₹8.75 crores in FY23.
What are SRF Limited’s future investment plans?
SRF Limited plans to invest in new BOPP-BOPE film lines in Indore, downstream assets like metallizers and coating machines, and capacity expansions in coated and laminated fabrics. The company aims to maximize aluminium foil profitability and enhance sustainable product offerings in FY26.
What is SRF Limited’s history?
SRF Limited started as a technical textiles manufacturer and diversified into specialty chemicals, packaging films, and coated fabrics. Key FY25 milestones include VAP sales growth, Belting Fabric capacity expansion, and environmental awards for its Thailand subsidiary.
