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69368503806.Pdf The BSE Ltd. National Stock Exchange of India Limited BSE’s Corporate Relationship Department “Exchange Plaza” 1st Floor, New Trading Ring, Bandra-Kurla Complex Rotunda Building, P.J. Towers, Bandra (E) Dalal Street, Fort, Mumbai- 400 051 Mumbai 400 001 SRF/SEC/AGM-50/2021 07th August, 2021 Dear Sir, Sub: Annual Report of 50th Annual General Meeting- SRF Limited In Compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find attached 50th Annual Report of SRF Limited. The Annual Report can also be accessed at the company’s website at: www.srf.com Request to kindly take this intimation on record. Thanking you, Yours faithfully, For SRF LIMITED Rajat Lakhanpal VP (Corporate Compliance) & Company Secretary Encl : A/a SRF LIMITED Block-C Sector‘45 Gurugram 122 003 Haryana India Tel: +91-iZA—4354400 Fax: +91-124—4354500 E-mail: [email protected] Website : www.srf.com Regd. Office: Unit No. 236 Sr 237, 2nd Floor DLF Galleria, Mayur Plate Noida Link Road Mayur Vihar Phase 1 Extension Delhi 110091 Corporate identity No. L181010L1970PLC005197 Accelerating Growth. Scaling new heights. annual report 2020-21 contents SRF AT A GLANCE To view the Annual Report, scan this code or We are a R&D-driven diversified chemicals conglomerate. Our purpose - “We always find a better way” - is visit: https:www.srf.com/investors/reports-and-results WHO WE encapsulated not only in the products that we manufacture and the superior processes that we adopt, but also amply ARE demonstrated in our penchant for employee engagement, transparent governance and inclusive growth. 01 SRF at a Glance 16 Our Approach to ESG Our wide range of products and solutions are sold worldwide. SRF Limited - A Diversified Transforming Lives. What We These are used in varied applications and segments: from tyres to air conditioners, from mines to cricket grounds, from 02 Chemicals Conglomerate 73 Bringing Smiles. automotive to household appliances, from food packaging to Do raw materials for agrochemicals and pharmaceuticals. With our diverse portfolio, we strive to provide the highest Market quality, sustainable industrial and specialty intermediates that 04 Leadership 77 notice contribute to a better way of life. 07 Expanding our footprint 92 Board’s Report At SRF, we continuously strive to work towards and be known HOW WE for our Aspirations – 2025, which are: Management • Professional Reputation and Value System 08 Chairman’s Message 123 Discussion & Analysis • Customer Advocacy DO IT • Innovation and Technology Leadership • Operational Excellence Standalone 12 Our Locations 154 Financials Through our innovation-led products & offerings, we help Consolidated WHY WE provide solutions to some of the world’s most pressing 14 Board of Directors 250 Financials and complex needs. DO IT 15 Corporate Information SRF Limited - A Diversified CSR Highlights Chemicals Conglomerate CORPORATE OVERVIEW SRF Foundation runs one of the largest community programs in India in the Education space Ranking • Largest manufacturer of Difluoro & Trifluoro Alkyl Intermediates (globally) • 2nd Largest manufacturer of Nylon 6 tyre cord fabrics (globally) • 3rd Largest manufacturer of Conveyor belting fabrics (globally) • Pioneer in F 134a and F 32 refrigerants (India) STATUTORY REPORTS Others • One of the few manufacturers of Pharma grade HFA 134a/P in the world, which is used in Metered Dose Inhalers as a propellant • Only Company in India manufacturing Polyester tyre cord fabric FINANCIAL STATEMENTS Awards/Recognition in FY21 • Managing Director, Ashish Bharat Ram named 276 21 9 India’s Best CEO in the emerging companies schools locations Indian states category by Business Today • SRF’s Specialty Chemicals Business awarded the Imparting quality Syngenta Supplier Award 2020 for performance education to more than • SRF’s Packaging Films Business South Africa plant awarded the 5 Star Rating for Occupational Health and Safety from the British Safety Council 81,310+ Students 2 Annual Report 2020-21 3 Specialty Chemicals Business CORPORATE OVERVIEW • Established relationship with marquee customers • Capability in scaling up pilot processes and creating value through operational excellence • High levels of customer engagement backed Market by strong R&D, technical service, product and quality management under one roof • Handling complex reactions - halogenation, Leadership ethylation, hydrogenation, nitration, diazotization, grignard, isomerization, amination, organocatalysis, and STATUTORY REPORTS decarboxylation Specialty Chemicals Business Fluorochemicals Business • Unique and fully integrated facilities extending across a wide range of refrigerants, pharma propellants and industrial chemicals Packaging Films • Domestic leadership in HFC’s with strong FINANCIAL STATEMENTS Business trade distribution network; significant market share of Fluorochemicals in India with global scale operations • Among the top five global manufacturers of Technical key Fluorochemicals products Textiles Business FY21 Fluorochemicals At a Glance Business 4 Annual Report 2020-21 5 Packaging Films Business CORPORATE OVERVIEW • Recognized for expertise in developing, manufacturing, and marketing innovative and specialty packaging films • Flexible business model, strong and loyal customer relationships with tailored solutions; NPD Lab to ensure future readiness • Highly-efficient asset base offering value-added products near customer locations STATUTORY REPORTS • Domestic market leader in Tyre cord manufacturing and Belting fabrics • 40% share in India’s Nylon tyre cord market FINANCIAL STATEMENTS Expanding Foray into Europe: EXPANDING IN RAYONG, THAILAND: our Footprint SRF’s Bi-axially Oriented SRF Industries (Thailand) Ltd., Polyethylene Terephthalate a wholly-owned subsidiary of (BOPET) film manufacturing the Company set up the facility is located at 2nd BOPET film line and a Jaszfenyszaru, Hungary. Resin plant at its existing This state-of-the-art facility facility in Rayong, houses an ultra-modern 10.4m Thailand in FY21. Technical Textiles wide BOPET film line capable of Business producing 40,000 MT/annum. 6 Annual Report 2020-21 7 Chairman’s Message facilities to capitalize on emerging business “Through all the challenges, CORPORATE OVERVIEW The Year in Review opportunities. With an expanding product portfolio, a new MPP facility will further support your I have deeply admired the Accelerating Growth. Company’s endeavors to tap emerging business resilience of my 7,000 Scaling New Heights. opportunities and ensure a robust pipeline extraordinary colleagues FY21 gave us an opportunity to prove our steadfastness of new, cutting-edge products in the future. in critical times to all our stakeholders: customers, Similar investments alongside improved efficiencies, at SRF, who demonstrated employees, business partners, and the community. and optimum utilization of capacities, should enable dedication and professionalism, us to deliver operational excellence and result in even From a financial point of view, in FY 2020-21, your better performance, going forward. and kept the business moving Company achieved a 31% increase in profit after tax forward. I am also grateful at ` 1,198 crore compared to ` 916 crore last year. In the Fluorochemicals Business, our prudent Your Company’s revenue for the year stood at ` 8,400 investments in capacities, R&D, innovation, and to our customers and to crore as against ` 7,209 crore in the previous year, technology has established us as one of the you, our shareholders, recording an overall growth of 17%. We grew market very few, fully backward-integrated producers share across our businesses and continued to make globally. To build on this foundation and take it to for your unwavering trust significant investments in building our capabilities, a new level, the team delivered another first during in the company.” STATUTORY REPORTS nurturing talent, expanding our technology prowess, the year and commissioned a state-of-the-art all the while maintaining credit discipline and a refrigerant application lab at our chemical healthy balance sheet. manufacturing facility in Bhiwadi, Rajasthan. These are significant steps in what has been an Coming to our specific Businesses now, I would like to Arun Bharat Ram ongoing journey of growing our R&D competence Chairman, SRF Limited talk about some of the milestones achieved by each and we are already seeing important new of our business segments in FY 2020-21. benefits. Chemicals Business During the year, your Company also made an In FY 2020-21, the Dear Shareholders, Chemicals Business important announcement to set up an additional accomplished strong growth of 23% Year-over-Year facility to produce 95,000 MT per annum of As I reflect on an exceptionally difficult year, one thing (Y-o-Y) to achieve record revenues of ` 3,645 crore. Chloromethanes at Dahej, Gujarat. This will take is clear – we have all been impacted by COVID-19. our total capacity to above 190,000 MT, making SRF The cruelty of this pandemic has been unparalleled In the Specialty Chemicals Business, our ongoing a global player in Chloromethanes. With a new BOPET film line in Rayong, Thailand and and my heart goes out to all those who are grieving efforts to commercialize molecules for both the the startup of our operations in Hungary, SRF’s plants FINANCIAL STATEMENTS the passing of loved ones, to those who have lost agrochemicals and pharmaceuticals segments are Our expansion plans are a big part of our overall now have a combined
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