SRF began as Shri Ram Fibres in 1970 when its parent company DCM decided to set up a separate entity to manufacture nylon tyre cord fibres. Its formation was a result of the foresight that nylon was the future material for tyre cord fibres. The company established its first plant in Manali near Chennai in 1973. Over the years, the company not only expanded its product range under the Technical Textiles but also diversified into many adjacent businesses. Besides Technical Textiles, the company’s business profile constitutes Fluorochemicals, Specialty Chemicals and Packaging Films. Equipped with state-of-the-art R&D facilities, the company boasts of its Chemical Technology Group that is actively involved in process innovations and product development.

Business area of the company

The Company is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company classifies its businesses as Technical Textiles, Chemicals, Packaging Films and Other Businesses.

Products

The company’s product portfolio broadly categorized into - Technical Textiles, Chemicals and Packaging Films.

Milestones

1970: Incorporated as Shri Ram Fibres
1973: The Company established its first plant in Manali near Chennai.
1974: Commenced operations of nylon tyre cord at Manali.
1977: Production of fishnet twines started.
1979: Commenced production of nylon engineering plastics.
1983: Commissioning of belting fabrics at Viralimalai.
1986: Set up SRF Finance Ltd.
1986: Commissioning of coated fabrics at Viralimalai.
1989: Entered Chemicals Business with production of refrigerants.
1990: Shri Ram Fibres renamed as SRF Ltd.
1993: Divested SRF Nippondenso.
1995: Commercial production of Chloromethanes.
1995: Ventured into Packaging Films Business.
1995: Started Vision Care Division at Bangalore.
1996: Set up the company’s first overseas plant (tyre cord) in Dubai.
1996: Acquired Ceat’s tyre cord fabrics plant situated at Gwalior.
1997: Divested Vision Care Division.
1997: Divested SRF Finance Ltd. to GE Capital.
2000: Acquired Dupont’s tyre cord fabrics plant situated at Gummidipoondi.
2002: Polyester films, fishnet twines and engineering plastics businesses spun off as a separate entity; SRF Polymers Ltd.
2004: Became the first tyre cord company outside Japan to win the Deming Prize.
2008: Acquired two foreign companies - Thailand based Thai Baroda Industries Limited (TBIL), a manufacturer of nylon tyre cord, and South Africa based Industex Technical Textile (Pty) Limited, a manufacturer of belting fabrics.
2009: Purchase of two businesses of SRF Polymers Ltd., the Engineering Plastics and the Industrial Yarn Business.
2009: Became the first Indian manufacturer of polyester industrial yarn (PIY) by setting up a 14,400 MT PIY for producing PIY to be used in radial tyres, conveys belts and coated fabrics.
2010: Ventured into Laminated Fabrics by setting up a green-field plant of 900 sqm annual capacity at Kashipur.
2012: Commenced operations in the newly commissioned Chemical Complex at Dehej in Gujarat.
2012: Wins the prestigious Deming Prize for the Chemicals Business.
2013: Set up green-field facility for BOPET films in Thailand.
2013: Ventured into BOPP films by setting up a green-field plant in South Africa.
2014: Scaled up its HFC 134a capacity by three fold to around 17,500 tonnes per annum with the commissioning for its second HFC 134a plant of 12,500 tpa capacity at Dahej.
2015: SRF acquires Global DuPont Dymel HFC 134a Pharma Business.
2017: SRF inks Pact to Buy Mexichem’s HFC-125 Assets.

Market Cap	68,642 Cr	ROE	22.9%
P/E Ratio(TTM)	35.9	EPS(TTM)	0.0
P/B Ratio	6.4	Dividend Yield	0.3%
Industry P/E	38.1	Book Value	360.1
		Face Value	10.0

Fundamentals