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SRF Technical Textile Business registers 9.8% growth in Q3

24 Jan '08
3 min read

In Packaging Film Business (PFB), SRF's renewed focus on producing value-added products led to an increase of 9.7% in the total sales of its products, which grew from 5,818 MT in October-December 2006 to 6,384 MT during the same period of 2007.

The exports of the company's PFB products increased from 2,989 MT to 3,548 MT showing a growth of 18.7% during the period.

A project for Holographic Film with annual capacity of 1,190 tonnes was commissioned during the quarter at a total cost of Rs.10 crore.

The company also accorded approval to invest Rs.257 crore in two separate projects. One of the projects entails setting up of a second line of Biaxially Oriented Polyester (BOPET) Films with a capacity of 27,000 MT and the second project pertains to setting up of a 15 MW wind energy project to produce 'green power' in Tamil Nadu.

Currently, projects worth of around Rs.700 crore are at various stages of implementation in SRF.

Elaborating further on the results, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, said, “As a company, we have not only shown the resilience to withstand the onslaught of tough market scenario but have also displayed our resolve to effect improvements in internal efficiencies.

The cost structure of our TTB plants has improved significantly and very soon, with the possible upturn in the market, this business will see significant improvement in its profitability.

Secondly, with the implementation of some of the key ongoing projects, our Chemicals Business will be consolidating gains by way of maximising capacity utilisation especially in its 134a plant for refrigerant gases.

And finally, having established its turnaround, our Packaging Film Business has reoriented its strategy towards growth.”

SRF Limited

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