Companies

SRF aims to double industrial chemicals manufacturing capacity

Our Bureau New Delhi | Updated on July 30, 2020

The company reported PAT flat at ₹177 crore in first quarter of FY2020-2021

SRF Limited has reported a ₹177 crore profit after tax in the first quarter of financial year 2020-2021. This is one per cent higher than the ₹175 crore-bottomline reported by the company in the corresponding period of last financial year.

In the first quarter of FY2020-2021, the consolidated revenue of the company decreased to to ₹1,545 crore. This is 12 per cent lower than the ₹1,763 crore consolidated revenue in the comparable quarter of the previous financial year.

The company board declared an interim dividend at the rate of 50 per cent, amounting to ₹5 per share.

SRF Ltd is looking to double its chemicals manufacturing capacity by January-end 2022

"The Board of Directors at its meeting held on July 30, 2020 has approved the project for setting up of a Chloromethanes Plant at a cost of ₹315 crores," the company said in a statement to the BSE.

The proposed project will add 1,00,000 million tonne per annum (MTPA) to the existing 95,000 MTPA industrial chemical manufacturing capacity of the company. This is to be added in 18 months by January-end 2022. This expansion will be financed through a mix of debt and internal accruals.

Published on July 30, 2020

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