Technical Textiles Business (Tyre Cord Fabric, Belting Fabric, Coated Fabric): This business comprises Nylon Tyre Cord Fabric (NTCF), Industrial Yarns and Industrial Fabrics. It is the Company's largest business segment and contributed about 50% of overall revenues for the quarter.
During the quarter the business has commissioned a) Poly and Spinning plant at Manali (Chennai), increasing its capacity from 11,000 MTPA to 25,400 MTPA and b) expanded the capacity of Nylon Tyre Cord Fabric at Gwalior increasing its capacity from 10,000 MTPA to 17,000 MTPA. The performance of this business during the quarter was adversely impacted by higher energy cost leading to lower margins.
Outlook: While demand remains strong for this segment, the aggressive pricing by the overseas suppliers will continue to put pressure on the performance of this business. However, the commissioning of the new yarn and textile capacity would help standardize quality and bring down fixed costs.
SRF Ltd, a leading industrial group, manufactures Technical Textiles, Fluorochemicals, Packaging Films and Pharma Chemicals. Commencing operations in 1974, SRF today operates from eight plant locations in India and abroad and has attained market leadership position in Nylon Tyre Cord Fabric (8th largest in the world & approx 34 per cent market share in India), Belting Fabrics (3rd largest in the world & approx 53 per cent market share in India), Refrigerant Gases (approx 40 per cent market share in India) and Chloromethanes.
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