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SRF Limited is an Indian multi-business chemicals conglomerate engaged in the manufacturing of industrial and specialty intermediates. The company’s business portfolio covers fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics.[2] It has a workforce of more than 8,000 employees across eleven manufacturing plants in India Thailand, South Africa and Hungary. The company exports to more than 90 countries.[3]
History
The company was established in 1970, as Shri Ram Fibres Limited, by DCM Limited as a wholly owned subsidiary. Its initial focus was on the manufacture of tyre cord fabrics. Its first manufacturing plant was set up in Manali, near Chennai, in 1973.[4]
In 1986, the company set up a joint venture with Denso called SRF Nippondenso, for the manufacture of automotive components. This was later spun off as a separate company in 1993. Another subsidiary, SRF Finance, started in 1986 was sold to GE Capital in 1997. SRF also had a healthcare division which manufactured plastic optical lenses, which was spun off as a separate company in 1997.[5]
In 1989, the company entered the chemicals business to manufacture refrigerants. Consequently, in 1990, it changed its name to SRF Limited.[6]
The company started its packaging films business in 1995 when it acquired a BOPET film plant at Kashipur in India from Flowmore. SRF has since then manufactured both BOPET and BOPP films globally.[7]
The company entered the specialty chemicals business in 2004 as a supplier of fine chemicals to the agrochemicals and pharmaceuticals industry. The business is engaged in custom synthesis, and contract research and manufacturing.[8]
Business segments
Technical textiles
SRF is the largest manufacturer of technical textiles in India. SRF's technical textile products contain tyre cord fabrics, belting fabrics, and industrial yarn.[9]
Fluorochemicals
Set up in the year 1989, SRF's fluorochemicals business makes refrigerants, pharma propellants, and industrial chemicals.[10] The company has allocated capital to enter the fluoropolymers business.[8][11]
Specialty chemicals
SRF's specialty chemicals business is involved in the development and production of advanced intermediates for agrochemical and pharmaceutical applications.[12]
Packaging films
SRF's packaging films business manufactures BOPET and BOPP films for use in food and non-food packaging, labelling, industrial and other end applications.[13]
The company is a market leader in most of its business segments in India and commands a significant global presence in some of its businesses/products, namely Difluoro & Trifluoro Alkyl Intermediates (global no. 1), Nylon 6 Tyre Cord (global no. 2) and Belting Fabrics (global no. 3).[14][15] SRF is the only Indian manufacturer of ozone friendly refrigerants, namely F 134a and F 32, both of which it has developed using indigenous technology.[16] With the addition of F 125, SRF is now the largest producer and seller of refrigerants in India and has further consolidated its market leadership.[17] SRF obtained ASHRAE (American Society of Heating, Refrigeration, Air-conditioning Engineers) certification for R-467A, its low GWP refrigerant blend for stationary air-conditioning applications.[18] It is the first-ever refrigerant from India to have received this certification by the ASHRAE Standards Committee under the Designation and Safety Classification of Refrigerants.[19] SRF acquired the Dymel® HFA 134a/P regulated medical pharmaceutical propellant business from DuPont™ in January 2015 and became one of the few manufacturers of Pharma grade HFA 134a/P in the world.[20][21][22]
Awards and recognitions
Deming Prize for the Tyre Cord Business in 2004 [23]
ICC (Indian Chemical Council) Lifetime Achievement Award to Chairman, Arun Bharat Ram [27]
Sword of Honour by the British Safety Council in 2018 [28]
The Economic Times Family Business of the Year (Large Companies) Award in 2019 [29]
National CSR Award 2018 in the category – Corporate Awards in CSR in Challenging Circumstances – North by the President of India, Shri Ram Nath Kovind [30]
EY Entrepreneur of the Year 2019 in the manufacturing category conferred on Chairman, Mr. Arun Bharat Ram [31]
Ashish Bharat Ram, Managing Director of SRF Ltd. named India’s Best CEO in the emerging companies category by Business Today in January, 2021 [14]
Best Family Business award in the giga category at the first-ever Indian Family Business Awards 2021, presented by Moneycontrol [32]
Ashish Bharat Ram, Chairman and Managing Director of SRF Ltd., named India’s Best CEO in the mid-sized companies category by Business Today in May 2023[34]
