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Shareholding Info
  • Promoters
    50.53 %
  • Foreign institutions-FII
    18.49 %
  • Other domestic institutions
    6.55 %
  • Retail and other
    16.02 %
  • Mutual Funds
    8.41 %

About SRF

Incorporated in 1970, SRF is a multi-business entity with multiple products for multiple applications. It started out as a single unit tyre cord manufacturer and is now a leading, professionally–managed, diversified chemicals conglomerate. Their wide range of products and solutions are sold worldwide and used in various applications and segments from tyres to air conditioners, mines to cricket grounds, automotive to household appliances and from food packaging to raw materials for pharmaceuticals. The company is a provider of specialty intermediates.SRF’s business verticals include special chemicals, fluorochemicals, packaging films, technical textiles and coated and laminated fabrics. Its products cater to the needs of the automotive, pharmaceuticals, air conditioning, manufacturing, chemicals, food and agro, renewable energy, lifestyle and decor, agrochemicals, mining, FMCG, refrigeration, technical textiles, advertising, events and exhibitions and the electronics industry. The company is globally ranked for its Difluoro & Trifluoro Alkyl intermediates, Nylon 6 tyre cord fabric and conveyor belting fabrics. In India, it holds a rank for its specialty chemicals, refrigerants, tyre cord, belting fabrics, coated fabrics, packaging films and laminated fabrics. It is also the only company in India to manufacture F 134a and F 32 refrigerants, Dymel® F 134a/P, the propellant for asthma inhalers and polyester tyre cord fabrics.In FY 21-22, the company had a revenue of ₹12,549 crore and an EBITDA of ₹3,146 crore.

Core Activities & Products

Fluorochemicals Business: SRF’s Fluorochemicals Business (FCB) drives its work through the sale of refrigerants, pharma propellants, and industrial chemicals.
    • Refrigerants:SRF offers a wide range of refrigerants suitable for different needs of HVAC (Heating, Ventilation and Air Conditioning) applications.
    • Pharma Propellants: SRF is one of the few manufacturers of Pharma grade HFA 134a/P in the world, which is used in Metered Dose Inhalers as a propellant.
    • Industrial Chemicals: The company manufactures a wide range of industrial chemicals used in diverse applications like solvents in pharma, feedstock for agrochemicals, metal degreasing, etching of stainless steel and glass, foam blowing agents and dry-cleaning.
  1. Specialty Chemicals Business: SRF develops and produces advanced intermediates for Agrochemical and Pharmaceutical applications. They’re also experienced in Halogen chemistry, Fluorine chemistry and other chemicals. It operates in the entire value chain of bulk chemicals, starting blocks, mid-intermediates, advanced intermediates and active ingredients.
  2. Packaging Films Business: The company offers a number of standard and speciality products under two brand names – PETLAR for the entire range of Bi-axially Oriented Polyethylene Terephthalate (BOPET) films and OPLAR for Bi-axially Oriented Polypropylene (BOPP) films. These products are used in flexible packaging, labels, overwraps, laminated paperboards, solar energy, industrial, flexible electronics or optical displays, stamping foils or embossing and yarns.
  3. Technical Textiles Business: The company offers nylon and polyester yarns and fabrics for diverse non-consumer and lifestyle applications.
    • Tyre Cord Fabrics: The company offers 4 types of tyre cord fabrics used in passenger cars, light commercial vehicles, heavy commercial vehicles, tractors, and off-the-road tyres including the bicycle.
    • Belting Fabrics: The company offers 7 types of belting fabrics in a wide range of fibers and characteristics which are used in conveyor belts used in mines, steel, or cement industry.
    • Polyester Industrial Yarn: The product range in this segment includes High Modulus Low Shrinkage Yarn (HMLS), High-Tenacity Regular Yarn, and Low Shrinkage Yarn. All of which are available in adhesive activated (AA) and non-adhesive activated (NAA) form and find application in 12 industries from seat belts to geotextiles.
  4. Coated Fabrics Business: The products include awnings fabric, auto canopy, hangar covers, ducting covers, sports goods, inflatables, pond liners, dynamic tarpaulin and static covers. These products are used in architecture, lifestyle, sports, advertising, defense, mines, food & agriculture, automobile, and transportation sectors.
  5. Laminated Fabrics Business: The product list includes Cold Laminated FrontLit, Cold Laminated BackLit and Hot Laminated protective covers. These products are used as flex in hoardings, billboards, signage, high-quality screen printing and digital printing and all solvent-based printers.

Board of Directors

  • Chairman Emeritus: Arun Bharat Ram
  • Chairman and Managing Director: Ashish Bharat Ram
  • Joint Managing Director: Kartik Bharat Ram
  • Director, Safety & Environment: Pramod G. Gujarathi
  • Non-Executive, Non-Independent Director: Vellayan Subbiah
  • Independent Director: Tejpreet S Chopra
  • Independent Director: Lakshman Lakshminarayan
  • Independent Director: Bharti Gupta Ramola
  • Independent Director: Puneet Yadu Dalmia
  • Independent Director: Yash Gupta
  • Independent Director: Raj Kumar Jain

Key Executives

  • Chairman Emeritus: Arun Bharat Ram
  • Chairman and Managing Director: Ashish Bharat Ram
  • Joint Managing Director: Kartik Bharat Ram
  • President & CEO – Fluorochemicals Business & Technical Textiles Business: Prashant Yadav
  • President & CEO – Specialty Chemicals Business &Chemicals TechnologyGroup: Anurag Jain
  • President & CEO – Packaging Films Business, Coated & Laminated Fabrics Business: Prashant Mehra
  • President & CFO: Rahul Jain
  • President & CHRO: Ajay Chowdhury
  • President & CIO: Sanjay Rao


The company has a pan-India as well as a global presence. It is headquartered in Gurugram, India and has 14 plants in four countries including India. It has more than 7000 employees globally and exports to 90+ countries.
  • Fluorochemicals and Specialty Chemicals Business: Rajasthan and Gujarat
  • Technical Textiles business: Madhya Pradesh, Tamil Nadu, Gummidipoondi and Viralimalai
  • Packaging Films Business: Uttarakhand, Madhyapradesh, Pithampur in India and KwaZulu in South Africa, Rayong in Thailand and Jaszfenyszaru in Hungary.
  • Laminated Fabrics Business: Uttarakhand
  • Coated Fabrics Business: Tamil Nadu

Performance in Various Sectors

In FY 2021-2022
  • Chemicals Business: The Chemicals Business grew by 43.8% YOY to achieve revenues of ₹5,240.8 crore.
  • Packaging Films Business: It witnessed a growth of 45.2% YoY to achieve revenues of ₹4,779.2 crore.
  • Technical Textiles Business: It grew 68.1% YOY to achieve revenues of ₹2,085.2 crore. The company saw the highest-ever sales volumes from the Belting Fabrics and the Polyester Industrial Yarn segments.
  • Other Businesses: SRF continues to maintain market leadership in the Coated Fabrics Business. In the Laminated Fabrics Business, the company retained its price & volume leadership and achieved its highest-ever sales in the fourth quarter.
    • The company is the only Indian manufacturer of ozone-friendly refrigerants such as F 134a, F 125 and F 32.
    • The company is the largest manufacturer of technical textiles in India enjoys a global leadership for most of the products under this business.
    • SRF is the second-largest manufacturer of nylon 6 tyre cord fabrics in the world. It is also India’s first and only plant to produce new generation High Modulus low shrinkage (HMLS) polyester yarn used as reinforcement in passenger radial tyres.

CSR and Sustainability

SRF Foundation was set up in 1982 as the Corporate Social Responsibility (CSR) arm of SRF Limited.
  • Education: The company undertakes various education programs and has reached twenty-one locations in nine Indian States. Most of their intervention schools are equipped with state-of-the-art digital technology-enabled classrooms, play equipment and science labs.
  • Vocational Skills and Livelihood: In partnership with organizations like Schneider Electric and The Times of India, the company has expanded the scope of its flagship programs to train an increasing number of Indians, with a focus on youth, while covering new geographies.
  • Natural Resource Management: Since 2005, the company undertakes activities for livelihood promotion, ecological conservation, and improvement in the socio-economic condition of poor and marginalized families in the forty-two villages of the Tijara Block of Alwar district in Rajasthan. The scope of the project includes rainwater harvesting, wasteland restoration, large scale plantation, agricultural intervention, livestock promotion, micro-enterprise development, and community mobilization through women self-help and user groups. Through this intervention, we have benefited more than 8,200+ farmer families.

Covid-19 Impact

Due to the pandemic and subsequent lockdown, the company witnessed slowdown in demand for products across sectors, leading to significant reduction in cash inflows and sales, thereby impacting the overall revenue of the company. It operated during lockdown in compliance with the advisories issued by the Government of India and local authorities, ensuring high levels of health and safety for its workforce. It also carried out fund flow planning and enhanced short-term and medium-term borrowing to mitigate risks pertaining to liquidity. SRF ensured close monitoring of customer demand and production capacity and maintained an efficient product mix by prioritizing product manufacturing. Chemical sites witnessed stable and safe operations during COVID-19 and nearly all the plants operated at full capacity during the second half of FY 20-21. Overall performance for the same year was lower than its previous year with the latter half of the year being significantly better, almost reaching pre-COVID-19 levels. 

Future Prospects:

The company’s Aspirations 2030 involves the creation of new QCDS benchmarks while sustaining the existing ones to enhance operational excellence. The company also plans on attracting and retaining the right talent and gaining meaningful partnerships. It plans on maintaining its position as a leader in Innovation & Technology and generate and turn new product or process ideas into significantly beneficial solutions. The company’s work around Environment & Social Responsibility will focus on benefitting the communities where they work, embracing diversity, equity & inclusion in its workforce, enhancing its focus on the 3R’s- Recycle, Reuse & Reduce and increasing the consumption from green/renewable sources of energy.

Did You Know!

  • SRF used to be known as Shri Ram Fibers before 1990.
  • Sir Shri Ram was one of the seven architects of the Bombay Plan of 1944-45.
  • Dr. Bharat Ram, the son of sir Shri Ram, founded Shri Ram Fibres in 1970. He is a recipient of the Padma Bhushan and held a number of prestigious offices during his professional life. He served as the President of FICCI in 1965 and became the Chairman of Indian Airlines in 1967. Then in 1969, he became the first Asian President of the International Chamber of Commerce.
  • SRF is the promoter of Lady Shri Ram College for Women and The Shri Ram Schools in Delhi NCR.
  • SRF’s business roots go back two centuries.
  • The company has won the Deming prize for two Businesses, namely Tyre Cord and Chemicals.

Initial Public Offering

SRF launched its IPO in August of 2003 and was listed on the National Stock Exchange on August 18, 2003. It is listed on both the NSE and BSE.

Equity Shares

Of the total 29,64,21,025 paid up equity shares, promoter and promoter group owns 15,03,82,500 shares and the public owns 14,60,38,525 shares making up 51% and 49% respectively. Of the total 2,53,493 shareholders, 2 are promoter and promoter group and 14,60,38,525 are the public.

Annual Financial Summary

(in ₹ crore)
FY22 FY21 FY20
Revenue 12549 8466 7258
EDIDTA 3146 2188 1507
EBIT 2629 1735 1119
PAT 1889 1198 916
EPS(In ₹) 64 41 31
Net Worth 8564 6856 4933
Market Cap 79411 32056 15999

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