Chemical firm SRF Ltd will invest nearly ₹750 crore to set up an agro-chemical plant in Gujarat and a BOPP film manufacturing facility in Indore as part of its expansion plan.
Gurugram-based SRF Ltd has a diversified business comprising fluorochemicals, specialty chemicals, performance films & foil, technical textiles, and coated and laminated fabrics.
The company's board on July 23 approved the setting up of a facility to produce agrochemicals at Dahej, Gujarat, at a cost of ₹250 crore. The facility at Dahej will produce 12,000 tonnes per annum of an agrochemical intermediate.
This project will be completed in 18 months, according to the latest regulatory filing.
The board also approved a ₹490 crore investment to set up a BOPP (Biaxially Oriented Polypropylen) film manufacturing facility in Indore, featuring a state-of-the-art 10.4m wide Bruckner film line and a metalliser. The project is expected to be completed in 24 months.
SRF Ltd has posted a 71% increase in its consolidated net profit to ₹432.32 crore during the April-June period of this fiscal from ₹252.22 crore in the year-ago period.
The income from operations increased 10% to ₹3,818.62 crore during the first quarter of this fiscal from ₹3,464.12 crore in the corresponding period of the preceding year.
"In spite of a weak summer and prevailing global uncertainties, we have had a good start to the year. We remain cautiously optimistic for the rest of the year. Our capital expenditure plans continue to be robust," SRF Chairman and Managing Director, Ashish Bharat Ram, said.
In the 2024-25 fiscal, SRF Ltd posted a consolidated net profit of ₹1251 crore on a total income of ₹14,825.79 crore.
