The SRF Board of Directors has approved setting up of a Chloromethanes plant at Dahej in the state of Gujarat. The project will entail an investment of Rs 315 crore.
The existing capacity of the plant is 95,000 tpa with 100 percent capacity utilisation. The company has proposed capacity addition to produce 1,00,000 tpa.
The investment for the project will be a mix of debt and internal accruals. The proposed project will be completed in a period of 18 months.
The Board had also approved setting up of an integrated facility for PTFE at a cost of Rs 424 crore in August 2019. However, due to the global economic environment, the setting up of the PTFE plant has been delayed by approximately one year.
The related R22 plant is proceeding as per the original schedule and will be used for captive requirements.
The consolidated revenue of the company decreased 12 percent from Rs 1,763 crore to Rs 1,545 crore in Q1/FY21 when compared with Q1/FY20. The company’s Earnings before Interest and Tax (EBIT) increased one percent from Rs 291 crore to Rs 295 crore in Q1/FY21 when compared with Q1/FY20. The Profit after Tax (PAT) grew one percent from Rs 175 crore to Rs 177 crore in Q1/FY21 when compared with Q1/FY20.