An Indian diversified industrial group producing fluorochemicals, specialty chemicals, packaging films, technical textiles, and related materials.
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Overview
SRF Limited is an Indian diversified industrial company whose principal activities span fluorochemicals, specialty chemicals, packaging films, technical textiles, and coated and laminated fabrics. The company operates from India and maintains manufacturing activities in India, Thailand, South Africa, and Hungary, with products exported to more than 90 countries. Its portfolio serves industrial, automotive, construction, packaging, pharmaceutical, agrochemical, and other specialized applications. The business began in 1970 as Shri Ram Fibres Limited, a wholly owned subsidiary of DCM Limited. Its original focus was technical textiles, particularly tyre cord fabrics, and its first plant was established at Manali near Chennai in 1973. Over time, SRF broadened beyond textile materials through a series of business entries, divestments, acquisitions, and technology-led investments. SRF entered chemicals in 1989 through the manufacture of refrigerants and adopted the name SRF Limited in 1990. The fluorochemicals platform subsequently expanded into refrigerants, pharmaceutical propellants, and industrial chemicals. The company has also developed refrigerant products using indigenous technology, including ozone-friendly refrigerants such as F-134a and F-32, and later added F-125. Its R-467A refrigerant blend received certification from the ASHRAE Standards Committee, making it the first refrigerant from India reported to have received that certification. Packaging films became a major business in 1995, when SRF acquired a BOPET film plant at Kashipur from Flowmore. The company later developed production of both BOPET and BOPP films for food and non-food packaging, labeling, industrial uses, and other applications. In 2004, it entered specialty chemicals, supplying advanced intermediates and undertaking custom synthesis and contract research and manufacturing for agrochemical and pharmaceutical customers. The company has also pursued activities outside its current core portfolio. In 1986, it formed a joint venture with Denso for automotive components, later separated as an independent company in 1993. A finance subsidiary founded in the same year was sold to GE Capital in 1997, while a healthcare division producing plastic optical lenses was spun off in 1997. SRF later acquired DuPont's Dymel HFA 134a/P regulated medical pharmaceutical propellant business in January 2015. SRF presents itself as a multi-business chemicals and materials manufacturer with strong positions in several Indian markets and meaningful international participation. Its reported areas of global strength include difluoro and trifluoro alkyl intermediates, nylon 6 tyre cord, and belting fabrics. The company has received quality, safety, business, corporate social responsibility, and leadership recognition, including Deming Prizes for its tyre cord and chemicals businesses. Its current public profile is associated with continued development of specialty chemicals, fluorochemical capabilities, films, and technical textiles rather than with a single consumer-facing product brand.
History
SRF Limited was established in 1970 as Shri Ram Fibres Limited, a wholly owned subsidiary of DCM Limited. The original business centered on technical textiles, especially tyre cord fabrics used in tires. Its first manufacturing plant was established at Manali near Chennai in 1973, creating the foundation for a business that would later become one of India's important producers of technical textile materials. During the 1980s, SRF experimented with adjacent businesses. In 1986 it created SRF Nippondenso, a joint venture with Denso for automotive components. That activity was later spun off as a separate company in 1993. SRF Finance, also started in 1986, was sold to GE Capital in 1997. The company additionally operated a healthcare division that manufactured plastic optical lenses; this business was separated in 1997. A major strategic change began in 1989, when SRF entered chemicals through refrigerant manufacturing. The shift was reflected in the corporate name change to SRF Limited in 1990. Fluorochemicals became one of the company's principal platforms, encompassing refrigerants, pharmaceutical propellants, and industrial chemicals. SRF developed ozone-friendly refrigerants using indigenous technology, including F-134a and F-32, and subsequently added F-125. It later expanded its technical and regulatory position through certification of the R-467A low-global-warming-potential refrigerant blend by the ASHRAE Standards Committee. SRF entered packaging films in 1995 by acquiring a BOPET film plant at Kashipur from Flowmore. The business subsequently developed capabilities in both BOPET and BOPP films. These materials serve food and non-food packaging, labeling, industrial applications, and other end uses, adding a volume-oriented materials business to the company's textile and chemical operations. In 2004, SRF entered specialty chemicals, producing advanced intermediates for agrochemical and pharmaceutical customers. The business includes custom synthesis and contract research and manufacturing, giving the group exposure to more specialized and customer-specific chemical development. In January 2015, SRF acquired DuPont's Dymel HFA 134a/P regulated medical pharmaceutical propellant business, strengthening its presence in pharma-grade HFA propellants. The company has continued to operate as a multi-business industrial group rather than consolidating around a single product category. Its portfolio includes technical textiles such as tyre cord, belting fabrics, and industrial yarn; fluorochemicals; specialty intermediates; packaging films; and coated and laminated fabrics. SRF reports manufacturing operations across India, Thailand, South Africa, and Hungary, employs more than 8,000 people according to the referenced description, and exports to over 90 countries. SRF's stated market position is particularly strong in Indian technical textiles, refrigerants, and packaging films, while certain products have an international profile. The referenced account describes the company as a global number-one supplier in difluoro and trifluoro alkyl intermediates, a global number-two producer in nylon 6 tyre cord, and a global number-three producer in belting fabrics. Its institutional history has also been marked by quality and corporate recognition, including Deming Prizes for the tyre cord and chemicals businesses, safety and CSR awards, family-business awards, and recognition of its senior leaders.
- 2015
Dymel pharmaceutical propellant business acquired
[1]SRF acquired DuPont's Dymel HFA 134a/P regulated medical pharmaceutical propellant business.
- 2004
Entry into specialty chemicals
[1]SRF began supplying fine and advanced intermediates to agrochemical and pharmaceutical industries through custom synthesis and contract manufacturing.
- 1995
Entry into packaging films
[1]SRF acquired a BOPET film plant at Kashipur from Flowmore and entered the packaging-films business.
- 1990
Corporate name changed to SRF Limited
[1]The company adopted the SRF Limited name as its business expanded into chemicals.
- 1989
Entry into refrigerants
[1]The company entered chemicals by beginning production of refrigerants.
- 1986
Automotive-components joint venture formed
[1]SRF formed SRF Nippondenso with Denso for automotive components.
- 1973
First manufacturing plant begins at Manali
[1]SRF established its first plant at Manali near Chennai for its original technical-textiles business.
- 1970
Company established as Shri Ram Fibres Limited
[1]DCM Limited established the company as a wholly owned subsidiary, initially focused on technical textiles and tyre cord fabrics.
Products and positioning
A diversified Indian industrial materials and chemicals manufacturer combining large-scale technical textiles and packaging films with higher-value fluorochemicals and specialty chemical intermediates.
Industrial chemicals · 1989
Fluorochemicals
SRF's fluorochemicals business produces refrigerants, pharmaceutical propellants, and industrial chemicals. The portfolio includes F-134a, F-32, and F-125 refrigerants, as well as the R-467A low-global-warming-potential refrigerant blend. The company has also allocated capital toward fluoropolymers, although the referenced material does not specify the scale or commercial status of that activity.
Specialty chemicals · 2004
Specialty chemical intermediates
The specialty chemicals business develops and manufactures advanced intermediates for agrochemical and pharmaceutical customers. It also undertakes custom synthesis and contract research and manufacturing, allowing customers to outsource selected development and production requirements. The portfolio includes difluoro and trifluoro alkyl intermediates, which the referenced material identifies as a globally leading product area.
Packaging films · 1995
BOPET films
Biaxially oriented polyethylene terephthalate films are produced for food and non-food packaging, labeling, industrial uses, and other applications. SRF entered the segment through its 1995 acquisition of a Kashipur plant and subsequently developed a broader packaging-films platform.
Packaging films
BOPP films
Biaxially oriented polypropylene films form the second major film family in SRF's packaging portfolio. They are used in packaging, labeling, and industrial applications alongside BOPET films. The referenced material confirms SRF's global production of both film types but does not provide individual product-brand details.
Performance textiles · 1970
Technical textiles
SRF manufactures tyre cord fabrics, belting fabrics, and industrial yarn. These materials serve automotive, conveyor-belt, and other industrial applications. The company is described as India's largest technical-textiles manufacturer, with nylon 6 tyre cord and belting fabrics identified as internationally significant product areas.
Industrial fabrics
Coated and laminated fabrics
Coated and laminated fabrics are part of SRF's broader industrial-materials portfolio. The referenced material identifies the category as an operating business but does not specify individual constructions, end markets, product names, or launch dates.
Brand decisions
2015
Acquisition of Dymel pharmaceutical propellant businessM&ABackground
SRF pursued expansion in regulated pharmaceutical propellants and sought to add established product and manufacturing capabilities.
Action taken
It acquired DuPont's Dymel HFA 134a/P regulated medical pharmaceutical propellant business.
Aftermath
The transaction made SRF one of the relatively few producers of pharma-grade HFA 134a/P described in the reference material.
2004
Expansion into specialty chemicalsStrategyBackground
SRF expanded its chemical activities toward higher-value intermediates serving agrochemical and pharmaceutical customers.
Action taken
The company established a specialty chemicals business focused on advanced intermediates, custom synthesis, and contract research and manufacturing.
Aftermath
The specialty chemicals platform became a core part of SRF's diversified industrial portfolio.
1995
Entry into packaging films through plant acquisitionStrategyBackground
SRF sought to extend its industrial-materials portfolio into packaging materials.
Action taken
It acquired a BOPET film plant at Kashipur from Flowmore and began its packaging-films business.
Aftermath
The company subsequently produced both BOPET and BOPP films for packaging, labeling, and industrial applications.
1989
Diversification into fluorochemicalsStrategyBackground
SRF began moving beyond technical textiles as industrial demand and its existing manufacturing capabilities supported entry into chemical products.
Action taken
The company entered refrigerant manufacturing, establishing the basis for its later fluorochemicals platform.
Aftermath
Chemicals became one of SRF's principal business areas and the corporate name changed to SRF Limited in 1990.
Recent events
Reported
SRF board approves additional chloromethanes facility at Dahej[3]
SRF's board approved setting up an additional facility at Dahej to produce 100,000 metric tons per annum of chloromethanes, at a projected cost of ₹315 crore.
Reported
SRF announced Q3 and nine-month FY20 results[4]
SRF Limited announced consolidated financial results for the third quarter and nine months ended 31 December 2019. For Q3FY20, consolidated revenue increased 2% year over year to Rs. 1,850 crore, and profit after tax rose 125% to Rs. 345 crore.
Reported
SRF approved capacity and agro-chemical intermediates projects[4]
SRF's board approved a project to debottleneck HFC capacity at Dahej, estimated to cost Rs. 65.5 crore, and a proposal to set up dedicated facilities for producing intermediates for the agro-chemicals segment, at an aggregate cost of Rs. 238 crore.
Sources5 sources
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